MBL = HiredGoon = landlort?Don't count on it Skater, they always come back, although probably with a different user name
generational housing problem
- Thread starter keneth
- Start date
Thanks for dropping in HiredGoon. Please come again. Keep working on your counting skills. I suspect you will need to be able to count much higher then 200 in the future to pay your rent.
They could'nt be the same could they, MBL admitted to owning property...
You're guess is as good as mine Steve, but I have my suspicions. I just don't get why people who don't like property as an investment and expect the whole thing to come crashing down (etc etc) would waste their time on a property investors forum! I guess just to help us poor misguided fools from making huge mistakes
Repent... and ye shall be saved!
Well, supposedly investors are a bunch of greedy, nasty people. HG, MBL et all (man of a thousand faces?) aren't (isn't?) exactly poster boys for the other side.
For those newer members who have never been to one of the Somersoft meetings, I really suggest you go. Most of the 'nasty landlords' are really very nice in person! Puts a human face on all this property investing stuff you're reading about.
On the other hand, would you really want to meet MBL or HG or LL in person?
Alex
For those newer members who have never been to one of the Somersoft meetings, I really suggest you go. Most of the 'nasty landlords' are really very nice in person! Puts a human face on all this property investing stuff you're reading about.
On the other hand, would you really want to meet MBL or HG or LL in person?
Alex
Be quite depressing I'd imagine.
An interesting thread from HG and his mates.
http://forum.globalhousepricecrash.com/index.php?showtopic=21850
Dave
http://forum.globalhousepricecrash.com/index.php?showtopic=21850
Dave
Whoopee! Positive cashflow again! Even better.
I would suspect that it would be like talking to a brick wall! Seeing as their (or his) experience in investing is obviously only from a text book they'd (or he'd) probably bring along lots and lots of analytical graphs for us to pour over. What fun!
I just read that link Boat Boy. What a jolt to reality. It is fine to disagree with someone, but there is a fair bit of venom there.
I don't understand what they hope to gain by "invading" our forum. I don't plan to change how they invest..... why should they think they have any chance of changing our minds, especially when many of us here have been gathering wealth over many years, whilst doing the hard yards and doing without.
I have a laugh when some people complain that many people will never be able to buy a house. I know that there are some people who are madly saving to buy their first home, and plenty more who won't stop buying things for long enough to save. But there are plenty of people earning big money who CHOOSE to rent. Two of our tenants right now would be earning at least four times my husband's income, (possibly more) and renting is a choice for them, for various reasons.
Would love to hear some of the stories behind why that forum has such bitter attitudes.
Wylie
I don't understand what they hope to gain by "invading" our forum. I don't plan to change how they invest..... why should they think they have any chance of changing our minds, especially when many of us here have been gathering wealth over many years, whilst doing the hard yards and doing without.
I have a laugh when some people complain that many people will never be able to buy a house. I know that there are some people who are madly saving to buy their first home, and plenty more who won't stop buying things for long enough to save. But there are plenty of people earning big money who CHOOSE to rent. Two of our tenants right now would be earning at least four times my husband's income, (possibly more) and renting is a choice for them, for various reasons.
Would love to hear some of the stories behind why that forum has such bitter attitudes.
Wylie
HG
Why bother with wasting so much time trying to push your point across without any result..?
Sounds like a case of ADHD - Why bother with creating a new SS id every second day and come back to rant about similar stuff.
You have made your point and we have taken note of it. Thank you..!
I would ve thought that an intelligent (??) person like you would ve better things to do with his time than constantly going against the flow and writing dozens of posts every day to say effectively the same thing over and over again.
Harris
Spot on... there are long periods where house prices stagnate, or quite simply fall.
So why does the myth of 'house prices double every 10 years' keep itself alive ?
Projecting the last 10 years into the next is only wise if you don't have 100 years of data to draw upon.
Does ANYONE on this site actually believe that prices will be double in 10 years ?
Of those that do... do they honestly believe that wages will not also double in that kind of hyper-inflation environment ? (20 years of bull market in Real Estate).
Hi Alexlee (and others),
I'm a regular user of the 'alternate' forum you are talking about....
It's also full of quite nice people... although some do hold a grudge about the current situation, they have their reasons and most of their comments are based on good hard historic evidence.
Over the last 15 years, like yourselves, I've owned a number of houses ...6 from memory, although. 3 was the most I held at any one time.
Right now, my position on R/E now is quite bearish... I'm out of IP and have run my PPoR loan down to pretty much lose change.
As one of your posters mentioned, Bear vs Bull is not fixed... as the markets show signs of strength / weakness we all change... the bigger questions are "what is your threshold for change ?" and "will you change early or late ?"
My threshold changed when I had children.. Larger Risk had to be factored in, and I began to sell into a rising market. (We did quite well, but could have extracted another 10 - 15 % from the market to date).
I'm happy to be early in this change to bear because the late side of the turn
can be pretty ugly.
I wish you guys well in your ventures, and suspect that many will do just fine if you've been at it for more than 5 years... as for those just entering the arena, it's getting late in the bull run to put all of your eggs in one asset class. Start small and cover your behind.
The recent liquidity crisis will impact the broader market. I'm sure that you people are smart enough to see this.
ok... now are you ready for a story, everyone comfortable.. good, then here we go :c)
One of my friends owns a small non-bank loans franchise. He got a call from his main lender two days ago to advise him that rates would be rising next month. If he wanted to protect his customers he needed to contact them and convince them to change to fixed rate ASAP.
He is a very small operator, so I'm guessing that he was way down the list of people contacted..
Ok.. good investing.
Regards,
Mike
No, I fully expect my properties to double inside 7 years.
No I don't think wages will double.
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Where was the 'mortgage belt' where people on average wages bought houses 30 years ago? Where is the mortgage belt now? Some of the 'mortgage belt' suburbs didn't even exist 30 years ago. Wages DO NOT rise as fast as house prices, and they do not have to for property to keep going up.
The SAME house (and we only buy individual houses, we don't buy the whole market) goes from outer suburbs to middle-ring to inner ring. People on average wages should always be able to afford outer suburb properties. However, the outer suburbs keep moving, well, out. Since our IPs don't move.........
Mask mbl in some veneer of logic and the true colors still show through.
Alex
The SAME house (and we only buy individual houses, we don't buy the whole market) goes from outer suburbs to middle-ring to inner ring. People on average wages should always be able to afford outer suburb properties. However, the outer suburbs keep moving, well, out. Since our IPs don't move.........
Mask mbl in some veneer of logic and the true colors still show through.
Alex
...and that is exactly the point. Investors use a number of techniques to look for and acquire value. The reality is that the market does not move as one, but that many individual events contribute to the overall market position at any one time. That variation, that manifests in the price or yield of an individual property, is where money is to be made. For example, I have 3 IPs in an inner city Canberra suburb (right next to the city) that for no good reason is substantially cheaper for units than the suburbs that surround it. I believe it will get 'dragged up' because of this.
Blanket statements like "property doubles every 10 years" are effectively meaningless, because a counterexample can always be found. The idea is to seek value in individual circustances, knowing that the overall market tide will drag you one way or another anyway.
I appreciate what you guys are saying... the market is not one simple stock, there are winners and losers depending on your IP's location (location, location), surrounding infrastructure, development potential etc.
So I must ask the obvious question... where to you guys see value and strong future potential right now ?
By this, I mean, which areas ?
Personally, I'd expect anything coastal to buffer any property storm the best (excuse the pun).
Anything away from the coast, mines, strong jobs growth and infrastructure will be at high risk though.
So I must ask the obvious question... where to you guys see value and strong future potential right now ?
By this, I mean, which areas ?
Personally, I'd expect anything coastal to buffer any property storm the best (excuse the pun).
Anything away from the coast, mines, strong jobs growth and infrastructure will be at high risk though.
That's a funny forum BoatBoy, but they should rename it bitterandtwisted.com or something. Oh well, let them rant and rave about the gross unfairness of the housing market or whatever gives them their jollies, no skin of my nose.
I can't understand why they think they are protected from any downturn in the housing or any other sector of the economy - its not like rents will go down or anything...
That's a funny forum BoatBoy, but they should rename it bitterandtwisted.com or something. Oh well, let them rant and rave about the gross unfairness of the housing market or whatever gives them their jollies, no skin of my nose.
I can't understand why they think they are protected from any downturn in the housing or any other sector of the economy - its not like rents will go down or anything...
It must get lonely at the asylum and they have to come out of their caves every so often to 'reconnect' to the real world?
It's similar to what I read in the readers comments on the Daily Telegraph.
Alex
