Insight SBS Tues 7.30 Sep 9 - Bursting the Bubble
- Thread starter Alex P Keaton
- Start date
There was one guy who had the guts to say he had bought a house he'd watched go downwards in price and jumped on it. Jenny snickered when she asked "so you see this as an opportunity." To which he said yes. (Not verbatum but similar).
I had to laugh when someone said house prices were the highest they had ever been. DURR!
Regards JO
Agree - I think anybody who watched that show and still thinks there will be significant capital growth in the short term (next 5 years) is mistaken. This country is maxed out.
the show and its guests might have contributed INSIGHT if they'd screened it 10 months ago.
Well I'm confused. However I'm yet to see someone who is forecasting a significant correction admit that lack of insight however, there seems to be a lot of certainty at most times from this sector. Yes... I have been forecasting a 40% fall for some years now, but there is a possibility that this forecast is wrong and ...... so on.
In Western Sydney at the moment we have had at least one deal displayed on these forums that would be cash flow +ve at a 100% lend, and plenty getting close to that mark. In Brisbane you can still get 5%+ yield on established houses, that's a higher yield than the ASX200.
Commodity income countries and their housing markets appear to still be holding up well. My guess is the China story, long commodity short USD play is just nervous and not yet broken. Recession... what recession? It's still coming from what I can see and not here right at the moment.
Still... What's happening in the US, England, Ireland, parts of Europe looks ugly, we love debt, are poor savers, prices of houses are still expensive in terms of income multiples.
There have always been recessions, there have always been falling house prices. Yet to see a timing idea that translates into adding value to an investors pockets however, perhaps they are easy enough to make but it takes a bit more thought that simply presenting a non falsifiable case.. (an open ended property crash is on the way statement).
Still confused.
In Western Sydney at the moment we have had at least one deal displayed on these forums that would be cash flow +ve at a 100% lend, and plenty getting close to that mark. In Brisbane you can still get 5%+ yield on established houses, that's a higher yield than the ASX200.
Commodity income countries and their housing markets appear to still be holding up well. My guess is the China story, long commodity short USD play is just nervous and not yet broken. Recession... what recession? It's still coming from what I can see and not here right at the moment.
Still... What's happening in the US, England, Ireland, parts of Europe looks ugly, we love debt, are poor savers, prices of houses are still expensive in terms of income multiples.
There have always been recessions, there have always been falling house prices. Yet to see a timing idea that translates into adding value to an investors pockets however, perhaps they are easy enough to make but it takes a bit more thought that simply presenting a non falsifiable case.. (an open ended property crash is on the way statement).
Still confused.
lol the little girl in the back row was making funny faces and was very restless, was funny, but distracting.
Hmmm why is the guy who earns $100 K per annum having trouble!! Why didnt he save more of a deposit. Why didnt he just get a 3 bed house rather than 4 bed. Also I wander if the wife works. If she did she you could help with the repayments. He looks familiar. He may have been on the last show. Why on earth did he get such a large mortgage to begin with. When he first started making repayments I think he said it was a bit of a stretch. Why didnt he take into account the chance of interest rate rises and plan for it.
Oh yeah and how about that guy that sold his business. He said it was a great business and doing really well but he wanted to sell it cos he's not confident about the future. Now his son is unemployed. I wander if the father got another job. Perhaps he is working as an employee at his old business. I dunno. Seems a bit strange.
Hmmm why is the guy who earns $100 K per annum having trouble!! Why didnt he save more of a deposit. Why didnt he just get a 3 bed house rather than 4 bed. Also I wander if the wife works. If she did she you could help with the repayments. He looks familiar. He may have been on the last show. Why on earth did he get such a large mortgage to begin with. When he first started making repayments I think he said it was a bit of a stretch. Why didnt he take into account the chance of interest rate rises and plan for it.
Oh yeah and how about that guy that sold his business. He said it was a great business and doing really well but he wanted to sell it cos he's not confident about the future. Now his son is unemployed. I wander if the father got another job. Perhaps he is working as an employee at his old business. I dunno. Seems a bit strange.
check Out The Web Site Replies. The Gloomers Have Jumped On The Chance To Nail Investors Who Dare To Consider Taking There Own Future Into There Own Hands.
:d
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oh pooohy everyone has gone now. I hate being 2 hours behind
i know where everyone wentmaaaaybe here
http://forum.globalhousepricecrash.com/index.php?showtopic=40359
I encouraged the wife to watch the program.
She lasted less than 10 minutes before declaring they were all a bunch of whinging losers.
Unfortunately - I stayed 'til stumps and watched to the bitter end. Highly disappointed - as expected.
Didn't see or hear from one competent property investor.
Everyone in there for a jolly good bleat, rather than strategising how to make the best of the hand that the economy dealt up.
The 64 yr old Asian lady with the 70 yr old hubby, who mortgaged their 900K house with a 500K loan so they could start up a plastic wrap business servicing florists.....well, that was one cracking business plan she had there...."Um I don't know what is going to happen.....but if things go the way they are going with our business we are going to lose our house".....then the tears and wobbles.
The business lady up the back who pared back her staff from 10 to 2 full-time seemed to fairly switched on.
The three quoted gurus, along with the Assistant Treasurer, were such "big picture" men, they'll never be wealthy. Great writers and economists and pollies - all of 'em able to talk the leg off a chair, but I wouldn't partner any of 'em in a deal.
I should of done what the wife did - walked away.
She lasted less than 10 minutes before declaring they were all a bunch of whinging losers.
Unfortunately - I stayed 'til stumps and watched to the bitter end. Highly disappointed - as expected.
Didn't see or hear from one competent property investor.
Everyone in there for a jolly good bleat, rather than strategising how to make the best of the hand that the economy dealt up.
The 64 yr old Asian lady with the 70 yr old hubby, who mortgaged their 900K house with a 500K loan so they could start up a plastic wrap business servicing florists.....well, that was one cracking business plan she had there...."Um I don't know what is going to happen.....but if things go the way they are going with our business we are going to lose our house".....then the tears and wobbles.
The business lady up the back who pared back her staff from 10 to 2 full-time seemed to fairly switched on.
The three quoted gurus, along with the Assistant Treasurer, were such "big picture" men, they'll never be wealthy. Great writers and economists and pollies - all of 'em able to talk the leg off a chair, but I wouldn't partner any of 'em in a deal.
I should of done what the wife did - walked away.
Usual "cross-section of society" blather.
Kim, the 100k earner - wifey doesn't work. Not sure why he can't change his repayment frequency. Or fix his loan. Or get wifey a part time job.
Can be watched online (IE only, needs Flash) at:
http://news.sbs.com.au/insight/episode/index/id/42#watchonline
Single mother is interesting. She can't get housing because she's a single mother? Or unemployed?
Kim, the 100k earner - wifey doesn't work. Not sure why he can't change his repayment frequency. Or fix his loan. Or get wifey a part time job.
Can be watched online (IE only, needs Flash) at:
http://news.sbs.com.au/insight/episode/index/id/42#watchonline
Single mother is interesting. She can't get housing because she's a single mother? Or unemployed?
As others have said its the spend spend spend mentality of most Australians.
Most make a lot of money (like that 100k a year guy) then blow it. Then they wonder why they cant service a debt. They have ample income to service the debt but they are stupidly spending it all
If they would save a bit more, cut down on their unnecessary expenses they wouldn't have this problem.
Most make a lot of money (like that 100k a year guy) then blow it. Then they wonder why they cant service a debt. They have ample income to service the debt but they are stupidly spending it all
If they would save a bit more, cut down on their unnecessary expenses they wouldn't have this problem.
Definitely a candidate for the 'Slightly Less Crap than Today Tonight' award.
I thought the ABC produced better quality current affairs/docos than that? (hmm actually SBS.. still)
Pity as Steve Keen and Gittins are worth listening to and there are issues worth exploring which really weren't in that show.
I note in the comments section Shadow is fighting his tireless fight again... Though it appears as if it's a thankless task..
one comment ----
'Negative gearing should be abolished..... greedy people with more than 2 houses... (etc etc)'
512 agree with comment: disagree: 11. (and so on down the comments page it appears.)
I thought the ABC produced better quality current affairs/docos than that? (hmm actually SBS.. still)
Pity as Steve Keen and Gittins are worth listening to and there are issues worth exploring which really weren't in that show.
I note in the comments section Shadow is fighting his tireless fight again... Though it appears as if it's a thankless task..
one comment ----
'Negative gearing should be abolished..... greedy people with more than 2 houses... (etc etc)'
512 agree with comment: disagree: 11. (and so on down the comments page it appears.)
Oh well my properties are grossing 7.2 percent, 6.1 percent and 5.5 percent, rents are rapidly rising and interest rates are falling. And we will have to wait and see about CGs. However there is a place two doors down for sale for a price which is 10 times the price what I paid last month. Its admittedly a far superior property but I figure some of that might rub off.
I'm really very concerned about affordability. Not.
Great show. The major take away for me was that the economy is going nowhere but down. And property is intimately linked to the economy.
No point saying there was no property investors/gurus etc on there as property is not a stand alone proposition.
Anyone thinking there will be any decent cap growth in the near future has their hand on it.
Ross Gittins is the most respected economy commentator in Australia for a reason. He was great. He put that silly HIA guy back in his box quick smart.
Love the bit when he made the comparison between the REI's and the HIA. So true. They both try to talk up the market in self interest so often, no one listens to them anymore or if they do, no one takes them seriously.
No point saying there was no property investors/gurus etc on there as property is not a stand alone proposition.
Anyone thinking there will be any decent cap growth in the near future has their hand on it.
Ross Gittins is the most respected economy commentator in Australia for a reason. He was great. He put that silly HIA guy back in his box quick smart.
Love the bit when he made the comparison between the REI's and the HIA. So true. They both try to talk up the market in self interest so often, no one listens to them anymore or if they do, no one takes them seriously.
Yep, that rubbing off is called established capital benchmark. Always handy to have bigger, more expensive, bling properties next to or near your own.
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