Fhog Extended!!!!!!
- Thread starter Nathan
- Start date
Almost.
The boost is extended for July - September, then the boost portion will halve for September - December.
So, for a new home, until September: $7k original grant + $14k boost = $21k + whatever state governments puts in (if any)
Then after September for new homes it will be: $7k original grant + $7k boost = $14k + whatever state governments put in (if any)
For not-so-new homes, until September: $7k original grant + $7k boost = $14k
Then after September until December for not so new homes: $7k original grant + $3.5k boost = $10.5k
Make sense?
I had to double check this post to make sure I got all scenarios.
Oh, whaddya know
Another perfect example of why investors should buy whenever they can afford to do so.
If your'e one of those 'waiting on the sidelines'. Chances are you missed the boat and have lost out on making money, you cannot tell what will happen next and if you think you can guess it, you can't.
I'm 'guessing' that the next boost to prop up prices will be those actually waiting for a good deal, I think they will find that a plague of investors will be contributing to the next wave of capital apprecation.
It may then be those first home buyers benefiting from investors, adding some early capital growth to their new home.
Buy whenever you can afford to do so is one of the rules of money making I live by and won't be swayed by anyone else's opinion simply because, it has worked in my favour every single time.
Another perfect example of why investors should buy whenever they can afford to do so.
If your'e one of those 'waiting on the sidelines'. Chances are you missed the boat and have lost out on making money, you cannot tell what will happen next and if you think you can guess it, you can't.
I'm 'guessing' that the next boost to prop up prices will be those actually waiting for a good deal, I think they will find that a plague of investors will be contributing to the next wave of capital apprecation.
It may then be those first home buyers benefiting from investors, adding some early capital growth to their new home.
Buy whenever you can afford to do so is one of the rules of money making I live by and won't be swayed by anyone else's opinion simply because, it has worked in my favour every single time.
Oh, whaddya know
Another perfect example of why investors should buy whenever they can afford to do so.
QUOTE]
i respect this comment and think you will do okay with this, but buying at the right times will be much better than buying at any time. yeah yeah the old crystal ball argument again.
I still believe once the boost is gone after december, the fhb markets will drop by the amount they have gone up, just in time for 7 or 8% unemployment
Oh, whaddya know
Another perfect example of why investors should buy whenever they can afford to do so.
If your'e one of those 'waiting on the sidelines'. Chances are you missed the boat and have lost out on making money, you cannot tell what will happen next and if you think you can guess it, you can't.
I'm 'guessing' that the next boost to prop up prices will be those actually waiting for a good deal, I think they will find that a plague of investors will be contributing to the next wave of capital apprecation.
It may then be those first home buyers benefiting from investors, adding some early capital growth to their new home.
Buy whenever you can afford to do so is one of the rules of money making I live by and won't be swayed by anyone else's opinion simply because, it has worked in my favour every single time.
Are you kidding "want to be"???
Yes, no one really knows when is the best time to buy.... BUT, that includes you too.
Is the best time to buy whenever it suits yourself???
Too simplistic I say. It is a good idea to consider the state of the marketplace as well.
As for those who are waiting on the sidelines; i am one of those and I reckon I have got a bit of time up my sleeve yet. We are at the beginning of deflation, not the end yet.
"QUOTE Buy whenever you can afford to do so is one of the rules of money making I live by and won't be swayed by anyone else's opinion simply because, it has worked in my favour every single time. UNQUOTE
This is just a bit silly.
If you have decided not to be swayed by someone else's opinion, then you have decided you don't want to learn anymore. Don't you think ANYONE else has anything they could teach you?????
Isn't this a case of rationalising your own actions after you have already made up your mind?
nah it was last year.
lol the "plague of investors" have no equity and cant refinance as they might get a margin call.
That's the reason they never get past the first IP.
They listen to the real estate media and and buy a "black box" that requires
they put money into every week.
They are now saddled with debt and cant borrow anymore.
You see when "plague of investors" runs out of borrowing capacity, the boom ends.
And it does'nt start again until they can borrow more.
Those still borrowing on FHB are in general also borrowing the their limit in
an economy that slowing down. How many will be soon without a job?
Do they lower interest rates down to Zero like Japan?
All these handouts do is prolong the recession, until one way or another
people have either saved, or new people (with jobs) enter the market.
Dont think for a minute that you wont have to pay in the future for all these handouts.
And it will be an expensive price.
That's the reason they never get past the first IP.
They listen to the real estate media and and buy a "black box" that requires
they put money into every week.
They are now saddled with debt and cant borrow anymore.
You see when "plague of investors" runs out of borrowing capacity, the boom ends.
And it does'nt start again until they can borrow more.
Those still borrowing on FHB are in general also borrowing the their limit in
an economy that slowing down. How many will be soon without a job?
Do they lower interest rates down to Zero like Japan?
All these handouts do is prolong the recession, until one way or another
people have either saved, or new people (with jobs) enter the market.
Dont think for a minute that you wont have to pay in the future for all these handouts.
And it will be an expensive price.
silly thread...pointless and ill informed observations about market movements.......the short- mid term trend is still down..put what gloss over it you all like...
sit back and wait for 2010 to sort out the market further....it will keep trending back more yet mid/high priced property and the bottom end will come to a grinding halt with sales...
r/e agents without a quality rent roll will fold next year or unless they have a heathy bank balanceto keep the business viable....mark my words, 2010 will be tough in the r/e market all round....dont kid yourself the gloom is over..
sit back and wait for 2010 to sort out the market further....it will keep trending back more yet mid/high priced property and the bottom end will come to a grinding halt with sales...
r/e agents without a quality rent roll will fold next year or unless they have a heathy bank balanceto keep the business viable....mark my words, 2010 will be tough in the r/e market all round....dont kid yourself the gloom is over..
I don't think it matters longterm yesterday last week or 26 years ago,just as long as you take the first step and buy something in 5-10 years time the purchase price will mean nothing,most invstors i talked too know full well that as long as the FHB stays in place,then that will keep the building game above the water line and there is no way Mr Rudd wants a full blown property bust while he is in the hot seat..imho..willair..
The best time to buy is when ever you can that's for sure. Provided you make sensible decisions and do your numbers, research and due diligence.
With the boost extended does that mean that the Victorian regional boost of $14,000 will be added and included in this table in the below link along with the recent Premiers announcement?
That would make newly built homes in regional Vic $36,500?
http://www.sro.vic.gov.au/sro/SROWebSite.nsf/rebates_fhog_overview.htm
With the boost extended does that mean that the Victorian regional boost of $14,000 will be added and included in this table in the below link along with the recent Premiers announcement?
That would make newly built homes in regional Vic $36,500?
http://www.sro.vic.gov.au/sro/SROWebSite.nsf/rebates_fhog_overview.htm
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I think deflation may have been delayed just a little by this extention of the boost. The banks started requiring 3 months genuine savings back in about March, April. If that was when a FHO started to save they would have found them themselves in June and trying to get a loan application through in less than a month!
For those FHO who were able to save and did start saving, this extention now gives them time to get in and those who are paying attention now have 3 months to save and then 6 weeks to sign a contract (at full boost levels). I also believe that as the sales to FHO start to fade away that investors on the sidelines will step in.
Lol guys
I'm saying, That every single time I decided that I wanted to buy, I've made money.
Four times so far, coincedance?
To me it doesn't sound like it, its just the truth.
It of-course depends on where you're buying.. and I won't go into my personal portfolio growth over the last 6 months but I will say it has been much better than I could have ever expected, and that all odds were against me if I had listened to anyone else.
There are some seasoned investors on this forum who I respect greatly and I will listen to them but I've learned who I should be listening to, and who I should not based on success.
And Giddo. I am constantly learning, and will never stop, just for your information, have a nice day
I'm saying, That every single time I decided that I wanted to buy, I've made money.
Four times so far, coincedance?
To me it doesn't sound like it, its just the truth.
It of-course depends on where you're buying.. and I won't go into my personal portfolio growth over the last 6 months but I will say it has been much better than I could have ever expected, and that all odds were against me if I had listened to anyone else.
There are some seasoned investors on this forum who I respect greatly and I will listen to them but I've learned who I should be listening to, and who I should not based on success.
And Giddo. I am constantly learning, and will never stop, just for your information, have a nice day
FHBs represent only 30% of the market. Lots of investors will wait until the FHOB goes way in Dec 09 so they don't compete with FHBs and their free money. Then the investors hold the prices up with their buying. This lower end will NOT fall. The govt is committed to putting a floor under the market and will spend $Bs to do so if necessary - look at last night's budget. Interest rates are low and repayments are about the same as renting in many instances.
My advice is to WAKE UP and buy now if you are in the market. Hoping for price falls will end in tears.
Concerns about rising interest rates can be wiped away by fixing mortgages for 10 years at 6.x%. It really is a non-argument. As for unemployment - 10% if it gets to that still means 9 out of 10 people have a job if they want one. Again a non-argument. And with the big 4 banks giving repayment holidays for up to 12 months if you did lose a job - forced sales simply go away.
Historically house prices double in Australia every 7 - 12 years on average. The SYD market has been flat/falling since 2003 - that is 6 years ago. WAKE UP FHBs, the next 6 years (min) will see prices double again. If you don't commit to a house purchase you will commit to suffer rental stress instead as keithj has said.
My advice is to WAKE UP and buy now if you are in the market. Hoping for price falls will end in tears.
Concerns about rising interest rates can be wiped away by fixing mortgages for 10 years at 6.x%. It really is a non-argument. As for unemployment - 10% if it gets to that still means 9 out of 10 people have a job if they want one. Again a non-argument. And with the big 4 banks giving repayment holidays for up to 12 months if you did lose a job - forced sales simply go away.
Historically house prices double in Australia every 7 - 12 years on average. The SYD market has been flat/falling since 2003 - that is 6 years ago. WAKE UP FHBs, the next 6 years (min) will see prices double again. If you don't commit to a house purchase you will commit to suffer rental stress instead as keithj has said.
Not a bad quote, I like it.
For instance.
My Dad missed out on making hundreds of thousands of $$ the past two years, I tried to convince him to enter the market, but he always said he wanted to 'wait' and see how the market goes,
well the verdict's out, and the market went up, up, up.
Lucky I didn't listen to him when he told me that 60 minutes story on the experts that told Australia to sell up because housing was about to fall 40%
In this instance, yesterday was a very good time to buy in hindsight, but thats the problem, for him anyway.
Luckily though, he DID end up buying recently and is looking for more in the current climate so good on him.
For instance.
My Dad missed out on making hundreds of thousands of $$ the past two years, I tried to convince him to enter the market, but he always said he wanted to 'wait' and see how the market goes,
well the verdict's out, and the market went up, up, up.
Lucky I didn't listen to him when he told me that 60 minutes story on the experts that told Australia to sell up because housing was about to fall 40%
In this instance, yesterday was a very good time to buy in hindsight, but thats the problem, for him anyway.
Luckily though, he DID end up buying recently and is looking for more in the current climate so good on him.
Kudos to you Prop, you always have wise posts that I enjoy reading and I appreciate all that you contribute, so, thank you.
Yesterday was a better day
Today is better then tomorrow though.
There will always be an excuse as to why not to buy property. Just happens to be todays excuse if FHOG + Unemployment... Will be differnt come early 09, will be wait off until the rates go up, as prices may fall...
Ive seen the mistakes and made the mistakes all before.
Just as I got laughed at last year for buying property, as I was too flippant to listen to the oldies. What now i made around $800k in last 7-8 months.
My disclaimer is that I see there will most likely be suckkers rally right at the end... I will say this when I witness it in sydney market, however at this point I will still buy but doing my due dillligance as per usual and have a sure exit stratergy before I purchase each deal. I reckon we will have to see 50-80k more on prices before I would call this anyways.
I am still buying, and will continue to do so. What I buy today however, is slightly different to what i bought last year, mainly because it fits my goals now.
Interesting discussions aswell guys.
Have good 1,
Nath.
Today is better then tomorrow though.
There will always be an excuse as to why not to buy property. Just happens to be todays excuse if FHOG + Unemployment... Will be differnt come early 09, will be wait off until the rates go up, as prices may fall...
Ive seen the mistakes and made the mistakes all before.
Just as I got laughed at last year for buying property, as I was too flippant to listen to the oldies. What now i made around $800k in last 7-8 months.
My disclaimer is that I see there will most likely be suckkers rally right at the end... I will say this when I witness it in sydney market, however at this point I will still buy but doing my due dillligance as per usual and have a sure exit stratergy before I purchase each deal. I reckon we will have to see 50-80k more on prices before I would call this anyways.
I am still buying, and will continue to do so. What I buy today however, is slightly different to what i bought last year, mainly because it fits my goals now.
Interesting discussions aswell guys.
Have good 1,
Nath.
What Nathan?!..
You can't make money in these turbulent times! . .
Keep up the good work, you're an inspiration to many.
You can't make money in these turbulent times! . .
Keep up the good work, you're an inspiration to many.
Of course..................Why on earth would you do when it suits some one else but yourself?
Please explain?
Big Tone
