I'm Back

[Punchy]

G'day all

I used to frequent here oh so long ago. Back then I was a tad trollish and for that I apologise. I've managed to get most of the chip off my shoulder (but I am still cranky that I can't afford to buy on a single wage) so here's to me hopefully being able to add constructive posts. If not feel free to ignore me.

Anyhow I was very surprised to see the bearish posts on here. I have no doubt that the vast majority of people here will weather any financial storm, after all, due dilligence and prudent investment should bare fruit.

That being said I do however remain a Bear. I still hold that there are many threats to our economy. Affordablity remains a serious issue, industrial relation laws are a threat, and interest rates have a long way to go yet. But as someone pointed out in a previous post (I think it was in the Perth bubble thread) that the nature of the market means opportunity for those who know what they are doing. That is - people on this forum. Feel free to talk me around

 

[alexlee]

Just reading a few posts from 2005:

Interest rate hike in Oz, still the market holds.

Just how much higher does the Oz interest rate have to go before investors pull out and let the market slide.?

Will not be buying in the Perth area until the median house price for a 4x2 comes in at 195K from its current 250K +

A 4x2 that was $250k or so last year would now be, what, $350k? I note on another thread that odaat sold for around $275k.

I'm one of the Perth bears at the moment, but that's with regards to buying. I don't expect the median in Perth to crash back to what it was in 2005. I'm not selling my (one) IP in Perth. Just did a refinance and will be using it to buy more IPs in the Eastern states.

Not buy, and you'll never make gains. Sell, and you might miss out on unexpected booms. I don't know about the rest of you but I find that with shares if I sell, and the share goes down, I pat myself on the back but don't know when to go back in. With property, the costs makes that sort of hesitation even more damaging. I sure didn't expect Perth to keep booming the way it did. When buying, make sure the cashflow works even if the market crashes.

When using buy and hold, remember to KEEP HOLDING!!!
Alex

 

[Aceyducey]

Hiya Punchy,

Why would any of us want to spend the time to convince you?

We're too busy out there investing and speaking to people who want to invest to spend time turning round the attitudes of people negative on property.

Personally I don't think that turning everyone into an investor is a good thing.

The more wage slaves out there, slaving over hot desks to earn the money to pay rent on my properties (and buy them at market peak) the better!



Cheers,

Aceyducey

 

[alexlee]

Not going to try to convince you, Punchy. I want more bears. Especially in Sydney. Crash the market. Drop that sucker by as much as possible so I can buy my PPOR at a lower price. I want to create as many bears as possible in Sydney.

If you don't believe in property, don't. We're not going to convince you if that's what you believe. If you WANT to be convinced, on the other hand.........