I realised starting a topic like this here was like blowing smoke in a hornets nest. The inherent overstatement of the thread title/first post was a point taken to its extreme. While I figure that profiteering from property does make it harder for everybody on middle-income to afford a home, its a capitalist society, so it's no great surprise that…[Read more]

Thanks to you both, I'm liking this. You are right Richard. If I stay in a decent place I could not have otherwise afforded till I die, and the bank takes 40% of the sold value, who cares!  I go through many periods of excitement and thinking I can do this, so far I haven't nailed anything down, but I am keen to.I have just posted a scenario over…[Read more]

Would it be worth buying a place in St Arnaud?For example, this one has sold already, but to do the maths (quickly and roughly), have a look:http://www.realestate.com.au/property-house-vic-st+arnaud-104794172Say I pick one like this up for $100K. I put down $20K deposit, but we stay living in Melb and renting (so no first home grant for us). The…[Read more]

"prices in Singapore are highway robbery" Why are we in this position? Indeed, that is all news to me, thank you for lifting the wool from my eyes. In someways I'm glad to know we're not alone, it strengthens my feeling that we are all screwed – and that perhaps there could still be a revolution (several, a la Egypt). Maybe there is a latent…[Read more]

Hey DWolfe! See second para, and I quote: "London is more affordable than Geelong."The print article (from the Age, syndicated with SMH – I just did a quick google to dig up the spooks) had numbers to back this up (in graphic form, prob why not shown here). Yes, it is more affordable to buy in London, taking into account cost of living vs…[Read more]

Thornbury, actually they seem pretty happy with the house, just not the location.

Qlds007 wrote:
If you are prepared to give up some of the potential capital growth a shared equity scheme could be an option.Max lvr is 90% so you would to have a deposit but we are starting to see more and more of these loans evolve.You might take out a 90% lvr and you make repayments on say 70% with 20% being interest and repayment free. The…[Read more]

Geelong now more expensive than London! The report is a few days old, but in case you missed ithttp://smh.domain.com.au/real-estate-news/melbourne-housing-now-severely-unaffordable-20110125-1a396.html

Bumping for any new leads

Bumping for new leads

I still think negative gearing and tax breaks for property investors, and even just the idea that property has become a source (or aspiration for) of massive profits, has changed the dynamic between rich and poor in Australia. I still think these factors, along with population growith has caused increased rents, and reduced the quality of housing…[Read more]

I am interested in this, often do searches with that criteria and imagine moving to a weird town somewhere. It could be good, maybe even retire at 30.  I imagine many super cheap/remote places don't make it online, but I am purely speculating and assuming a lack of tech savvy people in the areas these places can come up. I imagine local signs…[Read more]

Most renters rent because they feel like its their only option. This may not be true, I've been trying to figure out ways to make buying a place possible, its not easy, but its not impossible either. Growing up poor lead me to believe I didn't have a chance, but now I know I could have done things differently. I'm hoping to sort it out and if it…[Read more]

After a place to call home, not a CF+ IP. I hope this IP market burns itself out and people can afford to live in city properties once again. My workmates just bought a $800K house and are not even thrilled with what they got – an okay house in an okay area … 'ok' isn't what we should get for $800K. $120 seems worth living in a desolate town…[Read more]

Not so good huh?

Is it possible to buy a <$200,000 property for CF+ (or CF neutral) with only a 10% deposit?

chenkai1980 wrote:

Wynyard wrote:
Which bank? I couldn't find any to finance OS property.

I think you can apply for line of credit. chees!

Not sure what this means. Could you elaborate a little?

Good day to buy – ie: less competition?

A good point being made here: With a Million Dollars in 1980 a investor could buy 25 houses at the 1980 Median price of $40K & rent them out @ $100pw or $130K PA giving you a yield of 13% less 1980 interest rates of 10% & you had a investment that paid for itself to hold plus a investor could sit back& enjoy the capital gains… Fast Fwd…[Read more]

If you do buy one – get one 3-5 years old and offer 50k under market value.If making an offer like this, whats the best way to do it? How can you validate it?