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With Westpac also dropping their LVR (87%) this could be the early signs of a trend emerging amongst the banks.

I think they would have been goosed even without the desalination plant. They live in Kurnell which is on the south eastern side of Botany Bay. It's always been earmarked as an industrial area. Caltex oil refinery is there, as is a giant sand mining operation and various other unsightly...

You forgot to mention that prices are also dropping....

I noticed you joined in April....It wasn't the 1st was it? :D

Yes, when the OT is freely available it ALL goes on rubbish. Similarly when credit is cheap, people take it too the max but eventually the piper has to be paid.

Well obviously it's overpriced according to the market. Try reducing your price to meet the market if you really want to sell it.

The sharemarket based on PE ratio is looking good value at the moment. It may however, fall further and offer even better value. Property still has some way to go. The interest rate rises are still to be felt by people who locked in lower rates a couple of years ago. The single rate drop...

You are 50, owe money on your PPOR and want to take on more debt so you'll have enough money to retire on???? Pay off your PPOR as quickly as possible to free up cash. Salary sacrifice as much as possible into super.

How long are your IPs going to be cash flow negative? Can you afford to wait years before they start paying for themselves? You might have to swallow your pride and sell 1 or more of your IPs at a loss to improve your situation. Why would you sell your PPOR for? It's got the 'equity...

I would say the reverse is more accurate. Shares have a tendency to react a lot quicker to bad news and it will be reflected in their price quickly whereas property is a slow moving beast. It can take months and months for property to react. One of the reasons is that borrowers can lock...

The GoldCoast is heavily reliant on tourism. The local wages are low (seasonal and hospitality) and can't really support the current high property prices on there own. I believe the prices were pushed up by overseas buyers and pure speculators. I don't think the future is bright for future prices.

You catch on quick. Seminars are where the money is.

Hi CastOfThousands, Your show sounds interesting and I look forward to watching it. Ignore the negativity and rudeness of some of the participants in this forum. Not everyone looks down their noses at First Home Buyers. They are doing it tough compared to the previous generation and...

I think it's normal for a property investor forum to go quiet when things start to turn in a different direction than that which makes you happy. When house prices are rising everyone is happy to share their 'secrets' on buying low and selling high. Everyone is 'making' money and the mood is...

Unfortunately you went with the variable option at a time of rising interest rates. Wholesale funding costs are rising and these will be passed on by the bank. They are after all a business and entitled to make a profit. I am still stumped why people who took loans out in the 2003-2004 period...

How does that jingle go? Who wants to be a millionaire? I DO!!!! :D

I was telling everyone in 2004 to fix for a long as they can because when I hear the words "lowest rates in 30 years" alarm bells starting ringing. If you can't handle the worry of rising rates then fix. At least then you can budget more accurately.

I'd be asking why I was the only one bidding? How much research did you do into the property?

I think the site has potential to be a real eye-opener. Everyone knows of property in their local area that is sitting vacant. Why property owner deliberately keep properties empty is beyond me. Short-term leases are under utilised IMHO.

Interest rates are more likely to rise than fall in the current environment. The only way rates will drop back significantly, which is needed to increase borrowing paying and thus paying power, would be because we are in a recession and that again isn't an environment conducive to a housing boom.