Place your bets. RBA meets today.
- Thread starter bruxism
- Start date
Mine settles 19th Dec at the same rate! OHH yeah, now lets hope we can get the IR to 4.5% and then locky locky
You never know, in 6 months time, 4.5% may be seen as expensive.
ACA just started... they're doing a whole story on how 60,000 poor suckers are on fixed rates... Typical ACA spin wants us to feel sorry for them.
Maybe so. Will have to wait and see what happens. Either way I'm excited to start my property investment journey in a supposed difficult time. Have some family members thinking im crazy to get into debt now and buy due to the current market. I think its a great time to buy. Im hoping my hard work now will pay off in the future
Missed out this time. Was busy working. Logged into to SS 15 minutes after the decision and saw Rixters topic. I missed all the fun and excitement. Damm I remember now why i wasnt online and listening to the radio at the time, it was cos a workmate got me to go and ask her some questions for her interview. By the time i got back to my desk i missed it.
Ditto but 1%would have been my vote. Ross Gittens said so. Peter
Tash,
So long as your income is secure so you won't be forced to sell your asset into a depressed market, then you can't go wrong buying now given a long term horizon. Prices are down, interest rates are down, rents/yields are up and vacancies are low, construction is down, immigration is up.
Its all just a question of holding onto them for now. If unemployment spikes and you're part of the statistic yourself, then the best long term prospects in the world will mean zip if you're forced to sell in the short term.
I'm very very excited about the mid to long term prospects for residential property in Australia, Sydney in particular. I'm less excited about the unemployment prospects in the next 12-18 months...
Cheers,
Michael
Michael is right.
Now is great time to buy in Sydney. I know of a deal is Ashfield, Sydney that was snapped up for 8% yield. CF+. Not me btw.
IMHO in Sydney from mid 2009 the lower end (under $500k) will see a boom. In fact iT is already happening to demand, prices are next.
I am seriously thinking to getting some more IPS here.
Peter
Forget Ross Gittins, I pointed out 100bp was on the cards back on the 6th November when I started this thread:
http://www.somersoft.com/forums/showthread.php?t=47104
Then some know-it-all economists all lined up and called 75 basis points, and a few scaremongers started calling up to 150bp, but at the end of the day the futures market pointed the way yet again and nailed it at 100bp. I threw my vote at 100bp before the announcement, but I'm no guru, I just watch the futures market!
I'm going to be shopping again straight after xmas.
This latest drop has given us enough cashflow to comfortably afford another IP. Then we sit tight and wait for the equity fairy
I'm of a similar mind, except that now I am less concerned with the equity fairy than I am with the cash flow fairy. i.e. I'll extend my portfolio next year through development but I don't much care if it appreciates in value or not. I just care whether rents continue to rise so I can improve my servicability to protect my asset base and allow me to go again. I guess each investor is in a different situation, but for me, I am hitting the servicability hurdle before I hit the equity / LVR hurdle. So I'm more concerned with yields than capital gains to create equity. Funny how this focus changes over time really... Of course, if the equity fairy does turn up, I won't go chasing her off with a tennis racket and a can of mortein.
Cheers,
Michael
Sound familiar, What wrong with Ashfield? Express Train to CBD is a plus? Peter
Forget Ross Gittins, I pointed out 100bp was on the cards back on the 6th November when I started this thread:
http://www.somersoft.com/forums/showthread.php?t=47104
Cheers,
Michael
Michael you are very good at predicting rates but I feel you are taking a little "authors license" here as I thought your thread asked the question? as I read it?
And to quote your own words on the first post:
It looks like a toss-up now between whether the RBA goes 75bp or 100bp next month. 50bp is a dead cert, and 75bp looks like being almost a given. The only question is whether they go a full 100bp again or not.
Lets have a poll for Feb 2009 and lets set it to close by middle Jan and see how good we are all.
Nevertheless, it all good news, Peter
Yeah I know, that's why I threw that big wink in there!
PS I'll call 75bp now for mid-Feb!
Michael
Missed that.
Actually I think there is only one question for us all to ask, predict, etc...
When are rates going to be at the lowest so we can all lock in?
Regards
Peter 14.7
Actually I think there is only one question for us all to ask, predict, etc...
When are rates going to be at the lowest so we can all lock in?
Regards
Peter 14.7
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