Magnanimous
And you have robust opinions as well.
Thank you - I am indeed magnificient.
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Magnanimous
And you have robust opinions as well.
You could always rent.
not saying this is you but...
it always amazes me how people put down success to their own market expertise and superior knowledge blah blah without ever acknowledging the general market trend itself,
Yes.does a person that makes money buying in a market that proceeds to go up for 20 years in a straight line have anymore investment expertise then someone who is just starting out?
From general point of view it seems posters are either
a) older and have an established portfolio and have it in their interest to shun any negativity or
b) be younger, currently renting with a good amount of savings seeing no value in the market atm (me)
[insert argument: i bought in 1990, and look at me now, im awesome..]
.Every week there is an article in the media pointing out how useless and ungrateful Gen Y are. It's hard not to agree.
btw As an "awesome" investor I see plenty of value in Sydney right now.
maby not in my lifetime, nature of the creation of money and the financial system
Scott pape 2005: Market will crash now! Quick, get out!
Common School of thought published in mainstream media 2007: Market will crash now! Har har har!
Felixter 2007: Spent over $1m on property and realised pretty decent gains
You do the maths
Yes.
So assuming 52 weeks you could save 52K a year?
as oppose to making XXX K amount capital gain or capital growth a year through property?
"property always goes up"
im an idiot
i find that a laugh, probably written by a baby boomer..
watch m3 closely, thats what I will be doing going forward... as a young 6 figure earner it is still unaffordable for PPOR and makes no sense fundamentally for me atm, then again what would I know im young and dont own a home.
What ive learned: dont argue property fundamentals on a property forum, peoples livelihoods, ego and whole mindset will react violently against it, unless it self reinforces their position.
Also as I always say "there is nothing more embarrassing than dumb people believing they are intelligent"
You just make yourself look like a tool with this comment. You know these "Awesome" investors who bought in 1990 or 1996 or 2000 or whatever? Do you think it was different to the situation you are now in? Do you think they didn't face the same risks back then that you are right now? You don't seem to be able to ignore hindsight in your opinion making. Back then these "awesome" investors didn't have hindsight so you need to put yourself in their shoes.
Gen Y strikes again. For some reason you guys don't seem to be able to acknowledge that even though unaffordability relevant to wages is high now, people of yesteryear still had to make sacrifices. 20 years ago a first home buyer who grew up in the eastern suburbs could not afford a first home in the east and had to go to the far less fashionable inner west (considered a dive back then).
It's the same thing repeating itself but you just can't see it. The fact that housing is less affordable means just that - it's a little bit harder. It doesn't mean that the norm of having to make massive sacrifices to save and accept buying homes in lesser suburbs accustomed to has ever been any different.
Every week there is an article in the media pointing out how useless and ungrateful Gen Y are. It's hard not to agree.
btw As an "awesome" investor I see plenty of value in Sydney right now.
do you think you can?
ponzi scheme generally have to crash yes, i also said maby not in my lifetime..
Ponzi schemes are fraudulent and always have to crash that is the nature of the scheme. I don`t consider property to be a ponzi scheme, I was curious to how you would time the crash and not get burnt and also your thoughts on the ethics of entering a ponzi scheme.http://en.wikipedia.org/wiki/Ponzi_scheme
i know i cant predict the future, I also know what I deem as value and what my comfort level is. I also dont base the future off the past
"history doesnt repeat, but it does rhyme"
Agreed, but unfortunately for us all only hindsight will tell us
if our current judgment of value is correct.
my question to all the old battlers long past their prime, what makes you think gen Y will pay high prices when your off into retirement and are selling up?
So you're how old? and you're more intelligent that others i take it.
there are many ways to make money through property, share trading, investments
Keeping money in the bank is without justifying how you can make more makes more no sense. If you can show how you can do it - by all means - hands down to you.
Can to wager if i am able to make more money that your 1K savings a week in a 1 year? since you earn 6 figures - u surely can afford it
maby not in my lifetime, nature of the creation of money and the financial system
You just make yourself look like a tool with this comment. You know these "Awesome" investors who bought in 1990 or 1996 or 2000 or whatever? Do you think it was different to the situation you are now in? Do you think they didn't face the same risks back then that you are right now? You don't seem to be able to ignore hindsight in your opinion making. Back then these "awesome" investors didn't have hindsight so you need to put yourself in their shoes.
Gen Y strikes again. For some reason you guys don't seem to be able to acknowledge that even though unaffordability relevant to wages is high now, people of yesteryear still had to make sacrifices. 20 years ago a first home buyer who grew up in the eastern suburbs could not afford a first home in the east and had to go to the far less fashionable inner west (considered a dive back then).
It's the same thing repeating itself but you just can't see it. The fact that housing is less affordable means just that - it's a little bit harder. It doesn't mean that the norm of having to make massive sacrifices to save and accept buying homes in lesser suburbs accustomed to has ever been any different.
Every week there is an article in the media pointing out how useless and ungrateful Gen Y are. It's hard not to agree.
btw As an "awesome" investor I see plenty of value in Sydney right now.
Because as much as people love to catergorize generations each generation is much the same, the average person considers rent to be wasted money and will look to own their PPOR, % of OO to renters may flucuate but one only has to read the news to see the angst of gen Y towards existing housing affordability,to quote you,
"history doesnt repeat, but it does rhyme"
By the way I rent
as a young 6 figure earner it is still unaffordable for PPOR and makes no sense fundamentally for me atm, then again what would I know im young and dont own a home.
Where you put your money is already a ponzi scheme in itself...
You deposit $$$ into bank, bank lends $$$ out to home buyers, home buyer uses it to buy a home, the seller puts the $$$ back into the bank.
Now the bank thinks it has 2x $$$. Rinse and repeat. Still early days in your education it seems....
By the way, how come you're only saving $1k a week?