Hey Lizzie don't forget what happened during the last recession.. My entire portfolio grew rapidly and my interest bill went right down. I quite enjoyed my first recession! Which could quite possibly be a good thing if you're looking toi sell. For instance: My property in Frankston went from $320,000 right up to $380,000 and I said no to selling it. Now it's down to about $330,000 again. .
Irresponsible scaremongering
- Thread starter lizzie
- Start date
when there are no facts, no discussion, no logic, not even opinion beyond "you are a bunch of losers - hahahaha" ... that equates to a troll.
Perhaps you need to go back a few years (try 6 or so when the last frenzy occured) worth of threads. There you will find the civilised discussions on the buy buy buy scaremongering.
Since then there have been several little hills and humps. Are we at the top? Possibly we''re on the downside of another hillock. Will it be a carnage landslip? Who knows, but I doubt it due to so many underlying fundamentals that have been discussed to death already on this forum.
when it plunges 40% practically overnight (as suggest by some property scaremongers) then I'll have a "holy batman" moment
I can't believe the hypocrisy i am witnessing here in this forum. Where were you guys when the real estate industry was using scaremongering to inflate the price of housing?
" Buy now or be left out of owning your own home!" was the catch cry being propagated by the media, real estate investment seminars , developers and real estate agents.
Well guess what?...you got to the top of the hill and now it's time to go down the other side.
Yes it is not in your favour, but unfortunately your time is over. Harry Dent is just telling the truth as it is and if you took off your blinders to look....the REAL facts actually support him.
who's really dreaming here? Wake up!
PS: Labelling someone a troll doesn't nullify the truth of what they are saying.
Go back and have a look at Harry Dent's track record. He is often correct on market direction, but rarely on magnitude. His predictions even within the last few years haven't been even close to reality in this regard.
What you're seeing on this forum is a bunch of investors discussing what the current issues and events are, and what they mean for investors going forward. It is entirely possible that we are in a period of change we may only see once in our lifetimes.
Unfortunately we occasionally get people here who like to bag everyone and throw around insults. Typically, these people are not well informed, and don't engage in sensible debate. No-one here is concerned if you want to hold a differing opinion to others, just be prepared to defend it with facts and logic. For example, what are the 'real facts' that Harry Dent is presenting? Do you even know? Do you know how much of a drop he has predicted for Australian property? Why do you think people here disagree?
In response to your question: 'Where were you guys when the real estate industry was using scaremongering to inflate the price of housing?', the answer is, investing in property. That property we bought during this period has had rent rises, and much of it is now cashflow positive or neutral, meaning it costs nothing to hold. Why would investors, who typically invest for the longer term, be concerned about holding an asset that pays for itself, and in the longer term will almost certainly still rise in value (not to mention increasing in cashflow)?
This scaremongering is great stuff.....should do the trick scare off the newbies and other amateurs.
Now I just need the Newspapers to scream property crash!!!
Hope to buy more soon!!
Will also be interesting to see if the RBA pulls the lever to reduce rates tomorrow!!! If so....happy days are here again!
Now I just need the Newspapers to scream property crash!!!
Hope to buy more soon!!
Will also be interesting to see if the RBA pulls the lever to reduce rates tomorrow!!! If so....happy days are here again!
not going to happen unfortunately, we would normally have the feeling when RBA is going to slash the rate
i had this great feeling they would do it in november though
Sure, the boy has cried wolf many times before on property's demise and it sounds like you have profited from it. But what if this time there really is a wolf? Will you be eaten alive in your defiance or will you escape with your hide intact because you saw it coming and prepared for it? And if there is no wolf once again, do you ever see a time, maybe way off in the future, when property could be knocked for six or does eternal optimism rule your mind?
I can't believe the hypocrisy i am witnessing here in this forum. Where were you guys when the real estate industry was using scaremongering to inflate the price of housing?
" Buy now or be left out of owning your own home!" was the catch cry being propagated by the media, real estate investment seminars , developers and real estate agents.
Well guess what?...you got to the top of the hill and now it's time to go down the other side.
Yes it is not in your favour, but unfortunately your time is over. Harry Dent is just telling the truth as it is and if you took off your blinders to look....the REAL facts actually support him.
who's really dreaming here? Wake up!
PS: Labelling someone a troll doesn't nullify the truth of what they are saying.
Like your username.
Where did you get the idea......
RC
What makes you think you've got a monopoly on reality? Sounds more like you each could do with a lesson in epistemology.
To be fair, 'wolf' has been cried many times. The difference here is that the longer it takes before the real wolf appears, the larger and stronger the flock, and the more resistant it becomes to wolves having a few nibbles. Inconvenient, sure, but hardly the end of the world stuff.
I've been following the whole Europe and American crises for a few months now and this is not looking like any ordinary recession. America and Europe are on the brink of bankruptcy. There is no avoiding it. There are no more tricks left to be played. This will have world wide repercussions.
Well.....at the moment...it looks like my rents are going up rapidly on over 70% of my portfolio.
At the same time it looks like my rates are about to head down.
Current cashflow is only 1k positive per month...due to renos where I have 3 proproperties vacant. Once these are rented....I should be at 2-3K per months positive. If rates drop 0.5% in the next couple of months...I should be at 4-4.5k positive.
Som unlikely to be eaten alive...as a matter of fact looking to pick up a PPOR terrrace around Annandale, Balmain, Rozelle, or Lilyfield prices there have come off between 5-15% on some places.
At the same time it looks like my rates are about to head down.
Current cashflow is only 1k positive per month...due to renos where I have 3 proproperties vacant. Once these are rented....I should be at 2-3K per months positive. If rates drop 0.5% in the next couple of months...I should be at 4-4.5k positive.
Som unlikely to be eaten alive...as a matter of fact looking to pick up a PPOR terrrace around Annandale, Balmain, Rozelle, or Lilyfield prices there have come off between 5-15% on some places.
Yes, the wolf has been conspicuous in his absence in the past but that doesn't mean he couldn't show up some time in the future. Better to have a contingency plan for his potential appearance rather than being completely defenseless, albeit brimming with optimism.
That's kinda my point. As an investor grows in capacity and holdings they should be managing risk, which means that have contingency plans for a variety of negative situations. Bear in mind also that negative scenarios are not as simple as saying 'the wolf is here'. It could be that the wolf turns up for a look around and some sheep get scared, or that the wolf has a nibble at one or two of them, or that it kills them all.
My rents have all been going up lately too - and being locked in for 12 months +.
Likewise, I suspect the same that IRs are heading down and so holding costs are reduced.
It's just a great time to be buying IMHO. The media is a bit negative on property. This is conditioning vendors to accept low offers. Selling agents are not confident enough to advise vendors to hold out for more money.
How much better can it get?
For all of those that are really concerned about the economy, I mean really concerned, have you got your block of dirt pegged out, your carrot seeds and shotgun at the ready?
ta
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Are you suggesting they are all talk , no action?
