Just like America we have been (and still are) living in a credit bubble economy, that's not a permanently sustainable situation. Either we have the necessary correction now or kick the can down the road and have an even worse collapse later on.
Left wing political group orchestrating home buyers strike...
- Thread starter GoingDHfast
- Start date
Very ambiguous to say the least and sounds like a bit of a cop out to me, but I'll take your word given you were the originator of the idea.
Unfortunately you have to realise that many of the followers of the idea particularly the likes of Mr Collyer don't seem to have fully grasped your intention and aren't realising the negative consequences of their actions. You only need to spend 5 mins looking at the designated face book page to realise it is all very extreme with little to no balance.
I'm all for raising awareness of affordability issues where applicable, but honestly feel this campaign and the sweeping statements that have come with it can be damaging on so many levels.
That necessary correction has already been happening for some time, and will continue for some time.
Deleveraging is happing now, and I'm curious to watch how much longer it takes.
Almost as damaging as the constant spruiking by real estate agents and their institutes, investment gurus, brokers, property sales companies like TIC....etc (and anyone else with a vested interest in property) that you better buy now because property always rises
Yes you're right, the process has started. We're seeing a higher rate of savings, but still on the whole seeing credit growth.
Many on this site try and put the "crash" word into my mouth, but I have been saying for quite sometime I am expecting (and think it would be healthy) to see a 15-20% correction (in nominal prices) over several years (5% a year) and then stagnation for a period following (giving a higher correction in real terms). However there are triggers that could set off a faster correction in prices.
I'd agree, but two wrongs don't make a right.
So do you honestly think that Prosper should be taken seriously?
isnt he the one starting it?
I think their proposed policy changes would be an improvement to the current system.
http://www.prosper.org.au/campaigns/what-we-want-home-buyers-strike/
Thanks for the link and congrats on the shout out!
Prosper is a pest organisation, much like the Shooters Party. It's preaching to the choir stuff and their marketing message (like the tacky as hell 'Pop the Bubble' party) is testament to this.
Re: the abolition of Negative Gearing, sign me and (probably) most other property investors up if it means the and equal and opposite abolition of any taxes paid on future rental income. Do you or Prosper support this?
Out of curiosity...have you exercised any margins or loans on your other investments and do you claim a tax deduction on your interest bill?
Yes I have a small loan (10% LVR), which I claim as a deduction, but my share investing isn’t pricing a family out of owning a roof over their heads.
Incredibly honourable...it's pricing them out of owning those shares that they may be able to sell in the future to fund that heart transplant that grandpa desperately needs though.
It's amazing how someone as strategic and analytical as you can use sentiment to justify a clear contradiction.
Do you have bank shares? How do you sleep at night knowing that YOUR dividends are forcing working families to default on their mortgages??
lol you're a piece of work IW. I don't see the point in arguing with you about my own opinion, so this is me agreeing to disagree. My investment decisions are driven by numbers, facts and statistics, but I still have a heart (believe it or not 
).
I do hold bank shares (not by choice), through a staff scheme (yep I work for a bank, have fun with that one).
).I do hold bank shares (not by choice), through a staff scheme (yep I work for a bank, have fun with that one
).