Desired Place to Live in Melbounre

Talking about net wealth, you probably only have about $4-5mil equity at best at 42 (I read your post in the $1mil equity thread) and a so called IT professional. That's pretty sad actually, haha, I just had to laugh. Actually, I reckon it is more $2-3mil in equity, but lets say $5mil as a buffer.

What amazes me is that there are all these SS posters who look up to people like you, as if you are God or something. Truly sad

Do you want to get thrown off this forum? Mate, seriously.....

You think $4-$5 million equity is sad? Say she's been investing for 20 years, that means she's turning about $250k a year. Not sure what's so sad about that!
 
I also don't know exactly what to do next...whether I should go into business, buy decent land for property development or another IP.

Wow, you don't know what to do now huh?

And here I was thinking you knew everything!

Suppose it depends how much $ you can extract from mummy and daddy...

The old BMD... "Bank of Mum and Dad"!

If it all goes to cactus, you've got them to fall back on anyway, and you're young now so may as well take some risks hey...

Btw...... Why did you buy a place in Brunswick?

Couldn't you afford Toorak?

What about the person who can't afford Brunswick?

What's wrong if they buy in Footscray... or Point Cook?

And even if people could afford it, what makes you so sure they would buy in Toorak (which I think is your argument, I couldn't make it out from all that fluff)... ?

People by homes for many reasons other than ''prestige'', perceived or otherwise, and regardless of affordability.

I think your 99.9% figure is very skewed to your own view of the world.

If you want, I can do a poll on this subject on this forum, as a small subset of the general population, and see what sort of figures we get... ? What do you say, we're all forward thinking financially and keen on property, so if we could afford it, surely we'd mostly be buying in Toorak (or similar ''prestige suburbs'')... right?
 
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And DeeHwa, you don't seriously believe people are poor generally because of poor investment decisions... Do you??!!

You must be living in one big cocoon...
 
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It all started in the other thread when someone said that there are lots of people that want to live in Point Cook, of which I said it is not true. It is because they have no other choice

The reason is because they can't afford anywhere else, for what they want, which is a big new double storey house on a decent plot of land with wide streets. Don't go and tell me, they rather live in Point Cook instead of living in say, a Toorak, Brighton, Canterbury, East Melbourne etc... with the same big new double storey house on a decent plot of land with wide streets.

Aren't they exercising a choice by choosing to live in a big, new double-storey house on a decent plot of land with wide streets over a small apartment in a more expensive inner suburb?

They can choose between an apple and an orange and not necessarily between 2 like apples and still this is a choice they made. Isn't it?

Please don't morph the meaning of the word "choice" around your twisted philosophy.
 
If I were to be given a house anywhere in Melbourne I would choose Toorak simply because it's the most expensive suburb.

I would then sell the house and most likely buy something similar in Brighton if I got my way, but if I'm being realistic my wife would get her way and we would stay put in Essendon but buy something bigger and use the spare change to buy some CIP and live off the rent
 
DeeHwa,

You are absolutely correct! I am having to get branch out to entertaining people as comedian as my properties in places like Werribee and Hoppers Crossing are not worth much and they are costing me a bomb. I am hoping to hit the big time as a "arm chair" comedian....then maybe able to command $1m per year. ;)

In the meantime I will bow my head in deference to your awesome purchase at Brunswick with your parents hard earned cash. :p

Can I have the caramel flavoured popcorn please? This is going to be a good show....I think I hear the mods? :)

Here we go, Sash again as usual. No arguments, just cheap one-liners like the true comedians, haha.

Talking about net wealth, you probably only have about $4-5mil equity at best at 42 (I read your post in the $1mil equity thread) and a so called IT professional. That's pretty sad actually, haha, I just had to laugh. Actually, I reckon it is more $2-3mil in equity, but lets say $5mil as a buffer.

What amazes me is that there are all these SS posters who look up to people like you, as if you are God or something. Truly sad.
 
And DeeHwa, you don't seriously believe people are poor generally because of poor investment decisions... Do you??!!
I know loads of poor people. Investing isn't even on their radar - merely living is what they do. I also know a lot of slightly less poor people who might have a term deposit, their own very modest house, but again - no real investing. Your average mug doesn't get past their super.

Its a pretty small minority who do really serious investing. Most people just work and get on with life from paycheck to paycheck. As touched on in some other thread, if everyone was rich and successful and had loads of investments the world would be boring and homogenous - also noone would actually *work*, they'd all be living off rents. Hang on, they'd all be in their houses in Toorak (or anywhere since they don't need to work so don't need to live inner city) and not renting, so noone would be a property investor!
 
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