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Report the builder to dept of fair trading(NSW) or BSA (Qld) He should lose his license at the minimum. They may offer some advice about what to do. Can you force his business to go bust then claim insurance?
harb wrote:Trying to re-educate ummester and turn him into a property investor is very challenging but I haven't gave up on him yet.
Lol You damn property bulls almost have my wallet out. Every forum I'm on seems to be a propbull spouting the virtues of property. Low interest rates, deductions, FHOG and govt money falling from the sky. It does seem like a great time to buy. God only knows why I have such an aversion to property. But I think I will wait to the end of the year just the same.
And watch them get killed by insurances, people ripping you off, fuel, OHS and taxes.
I do not charge a call out fee. But it is frustrating when a customer calls saying his roof is leaking (1hour away), only to turn out to be mold. There are only so many hours in a day to cover costs. And you often work 12-13 hour days for sometimes little pay. There’s a reason there is a trade shortage. It's a hell of a lot easier on wages. This sucks for the consumer because competition dries up.
I love my job and am good at it. But the costs associated with running a business. And the length of time you spend working and away from family. Has me thinking of moving to a different line of work. There are blatant rip off merchant trades and shonky trades out there. But there are also a lot of guys trying to make a living.By your logic I should replace anyone with a cheaper overseas worker. Someone that would probably bust there gut for half the price(Don't let big business hear you).
Casper_1000 wrote:What about all those people who have moved their money into cash because of the volatility of the share market? I read of the possibility of rates at between 2% and 3% by around Easter next year. If rates drop to that level then it would hardly be worth it.The government wants you to spend that's the whole point. If people don't the system starts to implode . Low interest rates so you borrow to spend. And the fact that low interest rates do not really entice you to save.
Its a triple whammy otherwise that is self feeding
1. more unemployed = a bigger drain on unemployment benefits
2. more unemployed = less people paying taxes
3. more unemployed = less consumer goods bought which then moves more people into group number 1 as business collapsehbbehrendorff wrote:You need to see the big picture, Interest rates should be going up to curve in spending and borrowing, Not being lowered to try and inflate the bubble some more, The lowered interest rates will have some very negative impacts for AustraliansMassive inflation next year, Devalue of the dollar which will bring higher prices for many things such as food.
Nothing the government can do will invigorate the property boom.
I think the world is more worried about preventing deflation at this point, hence the spending spree and rate cuts. With massive loans for most households I'm not suprised either. So I suspect the govt and rba will do its best to prevent deflation at any cost.
In the 1930s, it was not obvious to people living through debt deflation that their world was coming apart. The crisis came in pulses, each followed by months of apparent normality – like today.This whole situation has a good lag time to it. This is a slow moving beast that will nibble at the edges. What we are seeing now is all those billions of dollars being injected into the system plus the government legislation coming into effect over the next few months. Hopefully it will prop it up and life will go on.
The whole world is at a flash point, most people would have no idea.Go here to get some perspective
http://4.bp.blogspot.com/_H2DePAZe2gA/STAqqdE8CfI/AAAAAAAAGks/WrursaMDRIM/s1600-h/expend.pngWe are still above the previous low 7773 on the dow on 10/10/08. So not to bad just yet depending on how it ends.
bardon wrote:Ugly alright the sell limt is reached on futures no more sales late opening I will stay up to watch the opening bellMeh I have no positions on atm so not to worried. Everyone in the trading world is telling me how they are cashed up and waiting. So it could be a long way down if buyers are not willing to jump in at some point. Not that I would unless we really see some value that factors in the crappy growth for the next few years.
devo76 wrote:Whatever. It will pass.After a lot of pain. US market looks like an ugly start.
hbbehrendorff wrote:ferrari's, jet skis, million dollar jobs and hot nurses are also in short supply, But I don't really see your point. especially considering there is 900 000 empty houses in Australia, Even if there was a shortage, If the price is to high people can always move back in with mummy.
I don't really see how your formulate the yeild on property is increasing but at the end of the day, The yeild can be all that and a bit more, But that won't really change much if people can't afford to buy.
Interest Rates will make inflation hit through the roof, Along with our crashing dollar will result in increased import costs (Food) and people spending more of there pay % on the cost of living, Leaving them less expendable cash for trinkets like negative geared property, After all, Dosen't everyone still need to pay off there VE SS and there 50 billion dollar credit card ?
Government intervention ? You mean giving pensioners an extra $1000 for bingo night ? Or are you talking about liquidity for banks so they can purchase more bad derivatives and get control of those last cheap gold mines ?
With the population growth thing, Do you realise that without immigration our population growth is negative right ? If this global crisis gets bad enough, People won't be moving anywhere.
You are arguing your case to someone that supports your theory and already acknowledges all the above. However its just that at the moment, theory and predictions. I am just stating what I have heard from the larger property investors that are actually living and breathing property in the $millions. I don't know a vast amount on issues regarding property so I went out to check the other side of the story. I don't know you from a bar of soap so have no idea of your credentials.
At the moment I think there are a lot of people on the sidelines that are waiting to throw their cash on the investing bonfire. So we may see a spike in booth property and shares before the final fall. Govt intervention will give people a false sense of security. But in reality its still all predictions . I do not know exactly how it will play out. All I can do is prepare enough in case it does hit the wall. If I waited around for financial armageddon I would never make a trade
hbbehrendorff wrote:A boom ?? Are you out of your mind, On what premiss could you bolster up such an opinion, I've never liked Michael Yardney, He looks evil, Anyone who has done any study into physiognomy would probably agree with me.
.Housing shortage , %yield on properties, interest rates and government intervention are some of the reasons. I have noticed a few of the larger property investors saying the same thing. Here's a link to population growth comment in NSW http://www.news.com.au/story/0,23599,24522178-29277,00.html
While I am bearish on the whole financial scene we may see a property spike in the coming months. Its when the cdo (Collateralized debt obligations) start to blow up that I will begin to worry.
I was a little suprised last night at the US market. I just hope the media do not push the fear. Fantastic time to make money though.
devo76 wrote:.Although i did just buy a 996 ducati yesterday. Man i love this bike.You lucky bugger, did you buy red so it would go faster. Unfortunately I had to sell my bike(not enough use), old age, nagging wife, and children catch up with you.
I think a lot of people are taking sides in either doom gloomers or positive spinners. Instead of just taking the information to make a better decision or doing your own homework. Some of the information as to the state of the rest of the world is plain wrong. However some of the advice from the same contributors may be right. We are at a point in the worlds economy that we have never seen before to this extent. It will be interesting to see how it plays out. So do your homework when (if) buying don't half ass it on hope and prayers.
CHIS wrote:We aren't spending billions every week on a war in Iraq
Our banks are the most profitable in the world
Our raw materials are being bought by the millions of tons every week………..and will be for many years
Our population is growing
Immigration is at an all time high
Our country has a massive budget surplus that our government can spend on infrastructure to stimulate the economy if needed.
America is bankrupt. We aren't
Australia doesn't have to spend 700 billion dollars to bale out the mickey mouse banks that lent billions of dollars to people who couldn't repay the debts.
Chalk and cheese.Makes you wonder why everyone is fleeing our dollar today if things are so good. We have had massive drops these last few days so it seems the rest of the world think we are a risk not a safe haven. All it takes is a run on the banks and the whole thing goes up the $hiter. To say that its a good time to spend money in this climate could be dangerous. All those things you mentioned are not set in stone. Sit and wait a bit to get a better direction of where things are heading is a safer bet. Not to mention being cashed up even though our dollar is going down the drain.
CHIS wrote:Australia has mass immigration. All our capital cities have urban sprawl. WA is being bulldozed for housing. House prices will not plummet because their isn't enough of them. It isn't America. Interest rates came down 1% today. The sooner you get into property the sooner your life gets going. The sheep are scared. The Lions are feeding.No the Govt is scared, the people are still clueless, and the banks are praying there isn't a run on them.There is a lag effect from what happens on the share market today to what happens to property in the future.
The US rates are almost 0% as is, and that did not help them. And don't you wonder why the RBA had to drop the cash rate so drastically? This is about money not flowing around the financial system and credit locking up. Not to mention the massive amount of toxic debt out there. Things are not rosy and people will go to cash before they go to property. I'd wait a little longer before buying.
Scamp wrote:Wake up , there's a global market crisis which WILL affect Australia and which WILL cause a housing crash in Australia and which WILL cause massive unemployment. There's no doubt about it , just blind people choosing to put their heads in the sand and hope it all goes away.We're talking DEPRESSION here, not recession. Just google 1930's depression to get a hint of what's coming your way.
The DotCom recession is PEANUTS compared to this HUGE MONSTER OF A DEPRESSION.
Please put that in your head, recession + depression is coming to your doorstep.You will lose your job… so get out of debt before you are put on the streets. If you need explanations on what a recession is , please google it.
This is the worse case scenario and a bit early to call. While it is a possibility, AUS is in a good position at the moment compared to other countries.However I would not be holding your breath if you are waiting for housing prices to rise.
This is to do with massive debt and the US financial market seizing up. I would be looking at the last depression for statistics if the US can’t plug this hole. The trickle down effect of this whole mess won't be good either way. If anything cash is king and not to sound like a gold bug, but a little bullion wouldn’t hurt either.
hleung wrote:I can't understand why some people seem to get their houses built within a reasonable time while others are getting terrible service.
Probably the lack of skilled tradesmen ,and cowboys are filling in the gaps.For the price you get paid (as a tradie) working for some of these mobs I'm suprised the house is still standing after 7 years.No wonder the trades don't turn up.
Try the arab bank
