jaglions wrote:
The house has been valued by the real estate agents to sell around the $260,000 mark. We have just had the property revalued by St George for only $235,000 and rental appraisal of $225 per week.  I know I can sell the house tomorrow for $260,000 and rent of atleast $250 minimum. We live in Toowoomba- 1 and half hours west of…[Read more]

The property that today is valued at 460K will be valued at 400K in 6 months, and at 300K in 12 months.Can you afford to lose 200K in the next 12 months ?

Hi Harb, I just posted what I thought about the OP's dilemma. If he is going to buy anywhere, in *my personal opinion* he's best off in Sydney. IP Freely : I don't know which segment you are talking about, but 'my segment' has been stagnant since 2003. ie : not going up more than CPI , which means about 3-4% increase per year. Over 5 years, CPI…[Read more]

Sydney is probably the least problematic market of Australia. Perth , Adelaide and Brisbane are the worst ones. Sydney houseprices have been stagnant for 5 years ( due to them being overprices in the first place ). In recession times, business goes away from Perth / Adelaide and Brisbane and comes back to Sydney / Melbourne. So yes, if you have to…[Read more]

If you sell your home your mortgage will be released WITHOUT COSTS.Even if you had 20% interest rates, selling the house will NOT cost you a dime. Well.. unless you signed with a dodgy bank or signed a dodgy contract.

I believe in "Global warming" in that the world's weather pattern is shifting, but I don't believe in the theory behind it. I believe it's a natural phenomena, just like ice ages, and this latter has been scientifically proven ( they have ways to probe these things, from polar ice analysis etc.. )

clubhonda wrote:

Scamp wrote:
Don't invest in property. Stay out of it, don't commit suicide financially. That's the only thing you need to know : Property is something to stay away from, just like shares.Buy gold or save money on the bank, whichever you like, but do NOT buy shares or property.

You reckon the market is going to fall further?…[Read more]

Scamp wrote:

L.A Aussie wrote:
Oh, I forgot; you said to buy gold.Thanks for that pearl.

You're welcome. Gold is still the safest investment in these times. I predict goldprice higher than 1100, possibly higher than 1200 by march 2009 ( write it down somewhere ). That's about 20% increase. Speak to you in January 2009 about that…[Read more]

At first it sounds like a good plan. You seem to be able to make the payments and a house is worth whatever "the next fool will give for it" which in this case means it's worth what you will be giving for it. If you are comfortable with the repayments, then many people say you should go for it. However, if this house is only a dream, why will you…[Read more]

How does a 22-year old get their hands on 400.000 dollars of debt ?Sorry but there's something really wrong about that picture. Whoever gave you that amount of money should be sued for child cruelty.And YOU should know better than to get a 400.000 dollar mortgage !!

harb wrote:
For that to happen we'd have to be in a property bubble which we aren't

Harb, you're still in the 'denial' phase my friend ? Most of your colleagues have already passed that phase and are now in the 'angry' phase. You mean to say that 10 to 12 times wages is not a property bubble ? Not to worry harb, you will get a big wake-up call…[Read more]

the reason for the bleak outlooks ( and remember that guys like B. Gates are the real smart people, not idiot property spruikers ) is simple : All the money for the next 40 years has been spent already. All your children are born bankrupt, you will be expected to work till you're 75 just to repay your debts and property will halve in price. Many…[Read more]

You can't delete accounts apparently. ( or at the time couldn't ). So I just haven't logged for quite a while. I wanted to come back in the new year to see how you guys were doing, because this helps me. I see that the atmosphere on here has changed from the previous euforia and all the "congratulations on buying a new house mate, now get the…[Read more]

harb wrote:

Scamp wrote:
Harb my dear, The problem is not convincing yourself that your properties are worth 10 million dollars each.The problem is trying to sell them and finding out that the only offer you get is 200.000.

Then refusing to sell them for less then 10 million dollars each would solve my problem.

Yes, this is what everyone…[Read more]

Harb my dear, The problem is not convincing yourself that your properties are worth 10 million dollars each.The problem is trying to sell them and finding out that the only offer you get is 200.000.

devo76 wrote:
I remember my grandparents house in Broken hill sold for $30,000 about 8 years back. It was probably the best in the street but they were the last to leave. You could get one in the street for under $20,000. If this happens again. I will consider buying and boarding it up for the next boom. There will be a next boom. Got to get in…[Read more]

harb wrote:
Say it ain't so and prices have not doubled in the past 7 years.

Houseprices, under normal circumstances, double every 10 years. Noone said they don't.The explanation is simple : Inflation. Everything doubles / triples / quadruples every 10 years. My income in the last 10 years has quadrupled for instance. Did I do particularily…[Read more]

Many of the houses I track have 'sold' and 'under offer' and 'successfully sold at auction' just to reappear under another add 2 days later, FOR A LOWER PRICE. 'sold' my ass… Instead of deleting the add and recreating it, they just fake the statistics by putting 'sold' on it.It's all a big scam, and it's all falling apart. And Harb, I feel sorry…[Read more]

Ah here's the post. /bump

Hi Harb,I feel some negativity from you. I hope your investments are doing well. But don't be angry at me, I warned you a LONG time ago this was about to happen. Even gave you the exact dates too… Greed is a powerful addiction.