read the comments underneath that article...
hehe...
I did, and now I feel 50% dumber for it....
Boods
Housing market misery to continue?
- Thread starter Ausprop
- Start date
hehe...
I did, and now I feel 50% dumber for it....
Boods
There has been 4 properties for sale in my street in the past year.
1- was selling as she was in a wheelchair and decided to go into a nursing home - sold
2 - was selling as she split with hubby, listed property than ended up buying his half off him instead
3 - owners had been working up north for years. Moved back to PPOR for a while, then decided to sell PPOR and move into IP - sold
4 - property was overpriced and didn't sell so they took it off the market. I think they own another IP in our street also.
By God you may be right , I'll never sleep again .
And just while we're on the subject, yours is far too close to that t. Now this is coming from an ex advertising man and that's a big no no. You see it creates a visual distortion to the naked passing eye, which intern detracts from the key word - incorrect.
Now supposing you were trying to sell "incorrect", you'd lose sales you see because no one could read it at a glance.
Subconsciously they'll think they've read incorrect only that won't make sense because it appears to have an extra t - or something adjoining the word incorrect, that shouldn't be there. By then though, they've passed and so think to hell with whatever it was and you might have lost a sale.
There's also a reversed logic they use in purposely either misspelling the key word or placing something weird around it - like an eyeball for instance , to make people go "what the", thus stopping and actually reading what it is being sold, because well, they just can't help themselves it just wasn't right. My dad use to use this one all the time, he called them his nitpickers deals, may as well make some money out of them.
Now lets just pray that every thing is in it's right place round here or we're gonna have to close the damn forum I think.
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Are you sure you were invested in property? Them bolded words are bear statements.
Nah, wasn't a bear until the last year or so.
Originally bought my properties for yield only as it was the only way I could get a 10% return. wasn't too worried about capital growth at that stage and figured it would be a bonus if it happened.
When I saw that people were willing to buy these same houses from me at a price that gave them only a 5% yield I thought the market must be a bit on the toppy side. So I sold.
No point in buying back at a 10% discount, so I'm happy to wait for 30%. If this happens, then good. If it doesn't I'm earning enough franked dividends and interest to live so I should be right.
no you missed a couple.. theres a shortage crisis, there is no affordability crisis, cycles dont apply, its different this time maybe you can throw some catch phrases in too.. perhaps safe as bricks and mortar? ummm surely there is more perhaps never sell prices always go up?...
totally agree with you hobo-jo these guys are a bunch of morons that think in this extreme perma-bull way... they sound as stupid as the mob on the other extreme side claiming....
were in a bubble, prices are about to crash, property is overvalued, no such thing as a shortage, government conspiracy, we are trending downwards, prices will fall by 40% and my favourite "you will see".
missed anything hobo-jo?
love when people are so blinded by their own strongly held personal views they cannot even see they are the exact same as those they ridicule...
totally agree with you hobo-jo these guys are a bunch of morons that think in this extreme perma-bull way... they sound as stupid as the mob on the other extreme side claiming....
were in a bubble, prices are about to crash, property is overvalued, no such thing as a shortage, government conspiracy, we are trending downwards, prices will fall by 40% and my favourite "you will see".
missed anything hobo-jo?
love when people are so blinded by their own strongly held personal views they cannot even see they are the exact same as those they ridicule...
this paragraph confused me totally.. it almost seems to go against the general tone and message of pretty much all your posts.
In this thread you mention China "collapsing" you then ridicule me by twisting my message and imply I am a non beleiver of cycles which ofcourse is false.. and then answer "yes" to the question "is it a good time to buy"
Given you have "ridden enough cycles to know that everything is a cycle" what is your time horizon for this cycle? 6 months? 12months? and do you suggest the worst of it has passed? I ask because to buy now as you suggest implies prices will start rising from now or in the very near term. However if you think prices will continue to be weak or fall for another 6 to 12 months then logic suggests you dont buy now but wait a little longer?
Further more, if you think China is going to "collapse" I can tell you now the downward trend will be much longer than 6 to 12 months so buying now is WRONG.
I am not attacking you but rather requesting some clarification on your views because they seem inconsistent to me.
In this thread you mention China "collapsing" you then ridicule me by twisting my message and imply I am a non beleiver of cycles which ofcourse is false.. and then answer "yes" to the question "is it a good time to buy"
Given you have "ridden enough cycles to know that everything is a cycle" what is your time horizon for this cycle? 6 months? 12months? and do you suggest the worst of it has passed? I ask because to buy now as you suggest implies prices will start rising from now or in the very near term. However if you think prices will continue to be weak or fall for another 6 to 12 months then logic suggests you dont buy now but wait a little longer?
Further more, if you think China is going to "collapse" I can tell you now the downward trend will be much longer than 6 to 12 months so buying now is WRONG.
I am not attacking you but rather requesting some clarification on your views because they seem inconsistent to me.
the inconsistency is probably due to the generally confusing outlook... I am not even pretending to have a clear forecast to convince you of. but to address some specifics:
- the China thing... well there are sufficient question marks to suggest this rampant growth can't go on unabated and may even fall into a screaming heap. This is combined with increased commodity supply from outside Australia. I thought you were suggesting China would balloon forever - the flow on effets here would thus be cycle defiant. All that aside who knows India might step up and fill their shoes
- timeframe... dunno, 2 years? traction from the resources boom should get a grip by them. but there are many mitigating factors, things that have been debated to death here such as IRs, foreign credit supply etc. That relates to the growth states tho. I can't see any scenario in which property in the south east can outperform other than government incompetence hampering supply. That's unless the money becomes more fluid as boom 2 unfolds
- I just read a great post but I can't recall from who. it said one of the key things for investors going forward is the IR they are on. gearing and the cost of your funds is key
- limited property exposure is good... I am a fan of property, but not if you are geared to the wazza, heavily neg geared and praying for growth to refi and buy your way out of trouble. And I think the next 12 motnhs could stil be rocky but if you buy thru that time frame at sensible gearing and you get your money cheap enough then sure it will pay off
- the China thing... well there are sufficient question marks to suggest this rampant growth can't go on unabated and may even fall into a screaming heap. This is combined with increased commodity supply from outside Australia. I thought you were suggesting China would balloon forever - the flow on effets here would thus be cycle defiant. All that aside who knows India might step up and fill their shoes
- timeframe... dunno, 2 years? traction from the resources boom should get a grip by them. but there are many mitigating factors, things that have been debated to death here such as IRs, foreign credit supply etc. That relates to the growth states tho. I can't see any scenario in which property in the south east can outperform other than government incompetence hampering supply. That's unless the money becomes more fluid as boom 2 unfolds
- I just read a great post but I can't recall from who. it said one of the key things for investors going forward is the IR they are on. gearing and the cost of your funds is key
- limited property exposure is good... I am a fan of property, but not if you are geared to the wazza, heavily neg geared and praying for growth to refi and buy your way out of trouble. And I think the next 12 motnhs could stil be rocky but if you buy thru that time frame at sensible gearing and you get your money cheap enough then sure it will pay off
you lost me a bit. buts mes thinks' you were cracking a jokee, cause i certainly was.
Doesn't say much?
Could be people who don't know what they are on about?? Unless you knew who the people were and there exposure / experience, you might have reconsidered your offload.
F
I don't really care about the purchasing reasons of the buyers. Maybe they were money laundering so didn't really mind paying too much. I buy and sell on my own beliefs and valuations.
Every type of investment I buy, I do with the expectation to hold long term (which is why I buy for yield). But if someone comes along and offers me way more than I think its worth, I'll happily sell and invest elsewhere.
I don;t call myself a property bear but many of the reasons people have been paying high prices for properties suggests that maybe there was a bit too much excitement with Australias infinite growth story.
Australian Bureau of Statistics show the metropolitan area's population grew by 3.2 % in 2008-09
Say there were 1,500,000 residents thats about 48,000 new residents over that 2008-2009 period alone without taking into account earlier years or up to today?
Quoting 12,000 Ad infinitum, means its actually reducing is the point
China will have ups and downs but the overall trend will be a much richer country and much higher asset prices over there in 15 years time. When 300m people become middle class (ie 1/4 of China's population or approx all the US's working population), that's a genuine structural shift
Is that right ! I must say I've been very surprised around my area , Sth West & West coast Vic.
We were hoping oodles of new stuff would be flooding the market here because we're still looking for our own place but as yet there hasn't been much change .
Some agents saying sells have slowed but a couple of others have said they're still powering along.
The lists haven't changed much at all as yet .
Cheers
I bet these guys still cared... ouch!
http://www.news.com.au/money/proper...-costs-investors/story-e6frfmd0-1225964563393
http://www.news.com.au/money/proper...-costs-investors/story-e6frfmd0-1225964563393
Doubt it mate , probably just right it off in tax when you've got that kinda of money.
Once again though , people here ask for proof all the time of just how much our markets have ran in just 1 decade , off with the fairies they talk numbers like 2x .
Yet here we have once again , from under 2m to well over 10m in only 12 yrs so, well over 5x. It's no wonder really is it .
Cheers
Once again though , people here ask for proof all the time of just how much our markets have ran in just 1 decade , off with the fairies they talk numbers like 2x .
Yet here we have once again , from under 2m to well over 10m in only 12 yrs so, well over 5x. It's no wonder really is it .
Cheers
Lol if they make money, it's because property's goooood.
If they lose money, it's not because property's pear-shaped, but because they want a tax loss to write off some gains.
If they lose money, it's not because property's pear-shaped, but because they want a tax loss to write off some gains.
it is a problem that happens at the end of every bull market run because the good years have gone and been taxed and then along comes this capital loss. with all markets flat it is hard to find a gain to offset it against. $4.5m plus stamp plus interest plus agents fees plus rates etc.... I'd rather that cash in my bank.
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