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I actually am a similar person to him; I am materialistic and a capitalist snob. But, I am realistic and know a lot about other things than just that. The problem with him is that he assumes that all good things about living revolves around only the high end and nowhere else....like a kid...

If you believe that, then I have some land in Sydney harbour I would like to sell you. ;) I have a terrific quality of life and live in scuzzville Drugmana. It's quite easy to find a decent spot in our neck of the woods and avoid all the dope-heads and welfare crowd (until I get to the workshop...

And an oxygen thief

Your right; we have discussed this before, and you still haven't got any info regarding the demographic of that figure. You continually look at only the raw stat, and not the story behind it. And 10% is not a big percentage. You don't know the circumstances behind those purchases. That's...

I hear this every time a boom ends and a slump occurs.... Every time. Qualifying criteria - 51 year old b*stard.

It isn't; no-one said it was. Everyone on earth would love the you-beaut home, and those who say they don't are lying. :D What is unrealistic (not for him because he's done it) is to say that everyone should buy one for cash. For most people, this is simply not possible because they have...

I can't comment on Japan, but the USA I can a little. While I was there, a boom was in the last stages. Then, it stopped and then the GFC occurred - just after we got back. The wash-up was that many people lost their jobs, and a large number of these were heavily committed in real estate...

I can't give you an exact detail; only my anecdotal info. You can add or subtract zeros as needed. If you want to look up the End of Year Financial Report of any publicly listed Company, you will see these sorts of scenarios. Bigger companies than this might even work on smaller margins (for...

Man; I thought I was an elitist snob; but you are the king. Agree; pay off the PPoR asap. But; you have this delusional idea that everyone can do it in no time flat. That isn't reality. For those that it is; they don't need us here on SS; their income will be sufficient to stuff up plenty...

Tell that to most of the population who don't. http://www.youtube.com/watch?v=nU615FaODCg For a high-income earner. Unless you have changed your job, and are now a check-out dude at Coles, you can still do it again.

I've openly said numerous times that I am no expert. But I also reiterate that you don't need to be; you just need to have the basic outline and start. No, and I don't expect you will ever meet many folk who are unencumbered totally. It's not reality in the process of getting rich - other...

Traders spend all day looking at the screens. As a doctor; when will you have time to do that? It'll never happen. And to do it you would need to be able to put a stop loss in place, but you said you can't do that and keep it there. All the doctors I know work hard, and put all their income...

It's Marc, not Michael, and no; not yet. May never reach that result, but I'm continuing to work towards it. But I have more IP's than you, and a business, and a PPoR I own worth more than yours. This is no brag - you asked. And, I'm pretty useless at the caper, and haven't earned the sort...

Yes, but.... The only problem I have with shares full-stop is the possibility of another share market crash. As you yourself have illustrated; some can disappear forever, so the selection is important. How do you know which ones will survive? You don't. Based on this, I would say that a...

Crib, ride and Ho. Whaddup?

I've said it here probably 100 times; no-one holds a gun to an investor's head and says "BUY!" It's up to you to do your own research and DD on a property and it's value. Buying a flash OTP apartment is often very neg geared, but with decent tax deductions, and targeted (price-wise) at your...

I've seen it all before; no growth/price drops for a while etc. Late '80's early '90's when rates hit 18%, and $1mill houses going for almost half price in some instances...then another boom. That was sorta like one step back, two forward then. This time might be similar.

The historical average (I hate that word) for cap growth in property is doubling in value every 7-10 years...call it 8.5, or call it 10 to be safe. You might still be crying into your stethoscope in 5 years.

So...the address of a surgeon indicates his ability? That's like saying if he drives a commodore he must be a dud - so don't go to him. And it is well known that doctors - as a group - are one of the most upside-down groups in financial terms. Lots of income, lots of toys and expensive...

"Given my track record"....; give me a break. See; this is why you are copping flack. You've been in the game for 4 mins, and argue the toss with those here who have played a few sets. I, and several others here have done exactly that; bought IP's, and are doing ok. And, your mindset is...