For that reason alone stick with it… don’t listen to the doomsayers. Just keep your plans to yourself and keep plugging away. If you ask a lot of people here they’ll tell you that they wished they’d started earlier. Investing is one of the smartest things you could do at your age… just don’t forget to have a life as well, at the end of the day it’s only a means to an end.

Cheers
r

FROM THE NEWS WIRES:

This year’s oil price surge will not be a replay of the oil shocks of the 1970s and 1980s that sent the United States into a series of recessions, Federal Reserve Chairman Alan Greenspan said on Friday.

Greenspan delivered a generally upbeat assessment of the economy’s ability
to withstand this year’s spike in oil prices, but he added a significant
qualifier.

“Obviously, the risk of more serious negative consequences would
intensify if oil prices were to move materially higher,” the Fed chairman
said in his most extensive comments this year on energy.

Greenspan spoke on a day when crude oil prices climbed further into record
territory with the price in New York trading hitting 54.88 US dollars, up 12 cents from Thursday’s record close.

He said that even at the current levels, crude oil prices are still about 40 percent below the all-time highs – in inflation-adjusted terms – of
February 1981.

Crude oil futures rallied to 54 US dollars and 90 cents on Friday, a day after a decline in the US inventory of heating oil unsettled a market already on edge over tight supplies, high demand and unrest among key producers.

The oil markets are already concerned about supply shortages, largely because of the slow recovery of oil production in the Gulf of Mexico following Hurricane Ivan.

Crude futures have climbed about 10 US dollars a barrel in the last month alone.

While oil prices are more than 70 percent higher than a year ago, they are still around 25 US dollars below the peak inflation-adjusted price reached in 1981.

In that case, it is good AND true… as long as your friend doesn’t buy another PPOR in the mean time, the first one remains CGT free (for 6 years I think)

I just hope that ALL and sundry who try and obviously rip off the FHOG get caught and are made to pay the money back… just another version of bludging IMHO…

For those that need it and use it properly (even if they live in it for the first 6 months) I don’t have any issue at all.

Cheers
r

It sounds dodgy because it is dodgy. If you’re fine with committing fraud and the possible consequences that go with it, then go right ahead.

This IMHO is one of the reasons the FHOG should be axed.

cheers
r

Hi all,

Jo, you’ve often said you’ve been active in 3 cycles… what were your experiences in them… how did they differ/what were the similarities? How long did it take the wheel to turn for yields to catch up with prices? Was the most recent boom longer/shorter in your experience? (I’ve heard differing views) Interested to hear your thoughts.

Cheers
R

thanks for sharing the story chefspop.

underlines the importance of due diligence and extensive research… hope your next experience is much better…

cheers
r

Hi again

It’s not a term deposit account, you can deposit and withdraw as you need to.

Citibank’s interest rate is 5.4%, ING is 5.25% (I think)

Cheers
r

yorker, tough one

If I’ve been incorrect, please accept my apologies… I don’t think there’s anything wrong with healthy scepticism… believe me, we’ve had some dodgy people come and go on this forum over the past year or so, hence the criticism and questions.

cheers
r

Hi.

To be honest my BS detector works overtime when I read posts of Yorker’s pumping up Rosebery… for similar reasons that Westan posted elsewhere… but I don’t see any problem with this type of thread, if people want to invest in this town, it’s at their own peril. Then again, I always say horses for courses, so maybe I shouldn’t be too harsh. C’est la vie.

Cheers
r