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kay henry
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January 22, 2004 - 1:38 am
Fair enough Marcpatrick :o)
As I’m a policy analyst for a living, I am used to working through a myriad of information and deconstructing what’s useful and what isn’t.
I think the usefulness of a board such as this one, is that we get a variety of perspectives, and people can become used to raking through the different ideas and seeing what fits in with their own investment plans.
kay henry
kay henry
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January 21, 2004 - 1:54 pm
And if you think some of the gurus are dodgy, but you still wanna read what they have to say, buy their books in a second hand book shop- that way, you won’t be feeding dodgy author’s coffers.
kay henry
kay henry
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January 21, 2004 - 1:31 pm
also, you might wish to report the situation to the Banking Ombuds. They will investigate and make recommendations. They have a lot of clout and finance providers hate if the Ombuds might be involved.
kay henry
kay henry
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January 21, 2004 - 1:25 pm
How many rabbits are a deposit on an IP, Mel?
kay henry
kay henry
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January 21, 2004 - 1:23 pm
yeah, congrats Matt- you’re a sweet guy :o)
kay henry
kay henry
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January 21, 2004 - 1:18 pm
Well, I am probably not so “lovely”, but I’m fun!! hehe (well, I tend to think so, anyhoo!) I don;t wear those bad purple passion pants that some lesbians wear, and I don’t sing to the moon goddess or whatever some of those dreadful women do!
Naievety is ok- I might have been once too- hehe. Guess I just never see myself as different to anyone else. My whole family knows about my lifestyle and is totally supportive and loving of me and monika- who couldn’t love her *sigh* hehe- ok- I’ll stop being tragic now :o)
Guess I’ve just always found being my real self to be important :o) I just get a bit worried that other people find what i see as soooo normal, to be something else.
I am surrounded by all kinds of people at work and in my life- I’m a lucky bear []
kay henry
kay henry
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January 21, 2004 - 1:10 pm
yack,
I bought my first property 9 years ago. Had I attempted to sell it for 3-4 years after that, I would have lost money on it. I was in a divorce situation and was panicking a little in dealing with the responsibility of a mortgage. Re wasn’t “fashionable” back then, but my friends and I were buying into RE and there were no price movements- except downwards – for any area (in my region) that wasn’t unique. The research popers written at the time on median prices of RE used to say things like “Prices down again” as the headline.
I think the way to deal with negative growth is to ride it through. Some might think the people who have made money in this boom are some kind of “heroes”, but really- i remember my friends and I wondering why we had bought RE when our values had fallen. We weren’t considered heroes then…
Buy and hold was the strategy that has made money for those who had RE back then and kept it. But I feel the market has changed- and the state of RE is never gonna be the same. I don’t believe prices will *necessarily* double again in the next 10 years. But I believe people who buy when there isn’t CG just need to hold on- despite divorce etc. Given that the boom is over, it has to now be a buy and hold strategy- huge CG is in the past- slow and steady for the future.
I probably don’t fit your criterion for the 10-20 year investor, however… I do know about RE prices falling- soooo glad I didn’t get out then- I’d have nothing now if i did. And it wouldn’t be a case of “the one that got away”- I would be regretting “the one I *gave* away”.
kay henry
kay henry
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January 21, 2004 - 12:55 pm
Interesting article- thanks AusProp!
If the other banks follow NAB, gearing will be standard at 25%- not the 20% we’re used to. It’s gonna be harder for first home buyers to be able to save the 25% deposit- god!
Mel- I think 20% equity is not much. Means you own 200k and owe 800k. That kind of pressure would do my head in. I am a bit debt averse really- well, to some extent.
You might have to to back to work, Mel! Seriously- how can the plan to pay it all off occur if one isn;t working?
kay henry
kay henry
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January 21, 2004 - 12:46 pm
Try this link Tom:
http://www.rba.gov.au/Statistics/measures_of_cpi.html
If you go to “total” on the yearly link, that will give you the last few years’ inflation rates. You’ll note the total of the year 2000/2001 was 5.9- that was due to the implementation of the GST. This year’s total to the last quarter was 2%. The RBA always has a target of 2-3% Annual rise to be seen as managing a non-inflationary economy.
kay henry
kay henry
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January 21, 2004 - 12:35 pm
Props and Matt :+P
Don’t stereotype me! In fact, I don’t hang around with lesbians- they bore me generally, but i have some who are friends. I talk to you lot, don’t I? Guess that means I speak to guys.
I just tend to hang out with people whose company I enjoy. Amazingly, I’m probably similar to the rest of the world, even though I know you need me to be some kind of freak
But seriously, haven’t you people ever met a lesbian before? I really think you need to get out more fellas!
kay henry
kay henry
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January 21, 2004 - 12:26 pm
Some ideas for the crash, if it comes (although anyone could have a personal crash, so it’s relevant anyway):
* get income protection insurance in case you lose your job;
* get landlord’s insurance in case your tenant skips off or trashes your property and it becomes untenantable;
* don’t be too “rent reliant”. Try to keep your mortgage within limits so you can pay it substantively out of your wages. The tenants’ rents will then be used to just pay off the properties more quickly. You can then redraw for a rainy day etc.
* but seriously- think of selling one of your properties- the one that might not fit into your investment plan (as in, isn’t pulling its weight) before the market really chills. Currently, auctions have slowed, but that isn’t surprising, given new regulation and that the boom has peaked). Auctoin results don’t mean much for most people- most would sell as private treaty.
kay henry
kay henry
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January 21, 2004 - 9:24 am
Only the bypassed towns, Rugby. Poor little towns- bypasses just kill off small communities.
I remember i used to love all the towns until they were bypassed- marulan, yass, jugiong etc. further down, the only one they haven’t bypassed is coolac- wonder how long that will last.
kay henry
kay henry
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January 21, 2004 - 9:11 am
As i said elsewhere: SEEEEEEEEEEEEEEEEEEEEEEEEEEEEEELLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLL!!
hehe. But seriously, highly gearing is a bloody risk. Some people are gambling over their heads in property :o( If people *are* too highly geared, they should sell up now while prices are still maitainging themselves. Forced sales are a disaster.
kay henry
kay henry
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January 21, 2004 - 9:04 am
hehe sis- nice start- you’re already preparing to not disclose?? I am gonna tell her, you know! but really sis- if she’s a nice girl, she ain’t gonna want your empire.
kay henry
kay henry
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January 21, 2004 - 9:00 am
Good idea, sis! best to just say a place and time and others can follow- i’m not into this “everyone suggest somewhere and we can all decide” thing *groan*
see ya at Burbwood!
kay henry
kay henry
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January 21, 2004 - 8:48 am
Church youth clubs sis- yeah, that’ll get ya a nice suitable girl- hehe. A lovely christian apple-pie gal, sis
you want a nice girl- go for the church group… you want a bad one- go for the university chick.
kay henry
kay henry
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January 21, 2004 - 8:43 am
it’s amazing we can’t organise a drink on a friday evening, and yet, we have property empires??
Rugby- are you coming?
kay henry
kay henry
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January 21, 2004 - 8:36 am
40,000 minimum, richmond- unless it was somewhere like berry, nsw- those kind of touristy, old money places can’t be beaten- but too exxy to buy into :o(
Presumably the population figures are for those towns in isolation from cities- not for bourgeois stand alone places (in victoria, for example- i’m thinking Lorne and Daylesford- small places – not much popn- but very desirable).
kay henry
kay henry
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January 21, 2004 - 7:47 am
Yeah, I’m up for it. but where is crowsnest? I only know newtown, darlinghurst, city etc :o)
kay henry
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January 21, 2004 - 7:44 am
hehe Leigh, I bought two places in 6 months last year- don’t pressure me! :+P
kay henry