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  1. wategos

    Buffett buys into the Australian share market.

    Funny I bought a pile of IAG a few days before he did. Great minds think alike. I cant imagine him touching Australian bank shares unless they drop substantially from where they are now.
  2. wategos

    Anyone remember the days before the property boom?

    Yes but my point was it used to be achievable, now not. Other examples would be a single 28 year old used to be able to buy a flat next to an Eastern suburbs beach in Sydney without too much trouble (I did this). Now not so easy.
  3. wategos

    Sydney Silliness Warnings 2015

    Problem with that quote is that the 80K figure is AFTER the rental deductions. So someone on 105K with 26K of property investment deductions is "earning less than 80K".
  4. wategos

    Anyone remember the days before the property boom?

    Since the early 1980s http://www.realestate.com.au/property-house-nsw-byron+bay-119906893 or for around 150K back then: http://www.realestate.com.au/property-house-nsw-byron+bay-118595695
  5. wategos

    Anyone remember the days before the property boom?

    When I was a teenager a house nearby sold for 86K, expensive but achievable even for younger people, I planned way back then to one day get that house or one nearby. Now that house is worth 4 Million, by the time I was earning money its value had accelerated beyond reach and I could never catch...
  6. wategos

    Sydney Silliness Warnings 2015

    No I'm not confusing anything. Overseas property bubbles were caused by easy credit and popped when that credit was withdrawn. Australian market has also mostly been driven by easy and cheap credit (and favorable tax policies). It doesn't need a wholesale selloff. Sales volumes drop severely...
  7. wategos

    Facing a war

    I wouldn't call Isis a global threat, or any other Islamic extremist groups either. They are blown all out of proportion by politicians, media and others. Only a very small proportion of terrorism outside the middle east and Pakistan is related to these groups. Local nationalist / separatist...
  8. wategos

    Sydney Silliness Warnings 2015

    I was referring to what happens when credit freezes, not the current reality in Australia. No I am explaining what happened overseas in many markets when credit dried up. They had never experienced it before and sales dry up also as sellers don't want to accept falling prices, but they...
  9. wategos

    Sydney Silliness Warnings 2015

    Sellers hold out for a while in when prices are decreasing, they don't want to accept the new reality. The beginning of a crash involves very low sales volume. But people need and want to sell and after 1-2 years lower offers are accepted and the thing snowballs downward when expectations are...
  10. wategos

    Sydney Silliness Warnings 2015

    Shortage of buyers = dropping prices. Interest rates don't matter so much when the loans are not available. If credit dries up as it did in some countries (90% drop in loans made) prices crash, they don't just soften. Its the finance that's holding the whole thing up, low interest rates just...
  11. wategos

    Sydney Silliness Warnings 2015

    You are missing the big factor that crashed overseas property markets in the GFC, sharp reduction in the availability of credit. Australian property prices would not survive this.
  12. wategos

    Bali Nine

    Some of us have cancelled. We wont be going there again.
  13. wategos

    Clueless unsupportive mother

    Maybe they (and sometimes the banks) have seen property investment disasters that you just haven't seen yet ? Leveraged property investment has ruined many when things go sour, prices don't always go up.
  14. wategos

    Fast and slow words

    Pretty sure you can rent your PPOR, it doesn't imply ownership. Anyway I use the term home, I dont see any difference. When is your home not your PPOR and when is your PPOR not your home ?
  15. wategos

    Anyone used Aussie?

    I used Aussie 21 years ago for my first IP. No problems. They had a salesman who I never dealt with again after he signed me up to their basic loan product. Things are different these days, there were no brokers back then.
  16. wategos

    Fast and slow words

    I find it odd how property investors use the term PPOR (Principal Place of Residence) instead of "Home".
  17. wategos

    Ways to minimise tax bill this year

    I don't think so.... https://www.youtube.com/watch?v=hiThRIHwQDE
  18. wategos

    Negative Gearing

    The central points of the report were spot on, speculators supported by negative gearing are pushing up prices and pushing first home buyers out of the market. Its a policy disaster and has to go but self interested politicians are too weak to do whats best for the country and are more...
  19. wategos

    Can you service your existing debts if rates rise to 10% or 18%

    I remember getting a cool 17.5 % on term deposits that was nice. My first property rate was 9.4% not too bad when prices low as they were then (eastern suburbs Sydney about 3x wage). That rate now would burn many and force prices back down but things would reach an equilibrium again.
  20. wategos

    Bali Nine

    Up to 7% of the population are addicted to alcohol, it and nicotine kill far, far more than illegal drugs but we accept it, we have been conditioned to. Anyway drug danger is not the issue, Indonesia is not interested in reducing drug deaths, the executions are for political purposes, nothing...
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