Surprised that Monique Wakelin didn't mention Frakston.
http://www.theaustralian.news.com.au/story/0,25197,22515298-25658,00.html
Gerd
http://www.theaustralian.news.com.au/story/0,25197,22515298-25658,00.html
Gerd
West Australians creating artificial boom in Melbourne
- Thread starter gerd.
- Start date
I just checked out the website of the company named at the bottom of the article.
Universal Wealth Creation
http://www.universalwealthcreation.com/
And - look they've got a wealth creation forum! Check out one of the insightful and helpful wealth creation posts! (please note my sarcasm)
http://www.universalwealthcreation.com/forum/viewtopic.php?t=1232
My gosh some people are stupid.
Universal Wealth Creation
http://www.universalwealthcreation.com/
And - look they've got a wealth creation forum! Check out one of the insightful and helpful wealth creation posts! (please note my sarcasm)
http://www.universalwealthcreation.com/forum/viewtopic.php?t=1232
My gosh some people are stupid.
Hi Gerd,
The article seems to be concentrating on highrise developments and off the plan sales for new developments rather than established housing.
Perhaps that's why Monique Wakelin didn't mention Frankston as the article was more about new developments rather than older/existing housing stock which is predominantly found in Frankston.
It is frightening to think though that many investors are lured by the marketing campaigns, and are as Monique Wakelin highlights, buying into generic developments without any scarcity factor. (Such as the Docklands).
Just to add to the artificial boom, I think that the reason prices have risen in the inner areas in Melbourne is due to lack of stock and increasing demand. This has created an urgency among buyers to enter the market, and has pushed up the price accordingly.
Regards Jason.
Now i'm not a Doom and Gloomer, but could there be a bit of ?????
Promotion in the media
http://en.wikipedia.org/wiki/United_States_housing_bubble#Promotion_in_the_media
and Speculative fever
http://en.wikipedia.org/wiki/United_States_housing_bubble#Speculative_fever
Dave
Promotion in the media
http://en.wikipedia.org/wiki/United_States_housing_bubble#Promotion_in_the_media
and Speculative fever
http://en.wikipedia.org/wiki/United_States_housing_bubble#Speculative_fever
Dave
boatboy:
Just had discussion with Investor's Ed Bookshop owner yesterday, and we came to some conclusions:
1. Sharemarket has accelerated since the last correction and it's stretching further away from the fundamental. Trading volume suggests that fund managers are sitting on cash and not entering the market
2. Property has also shown similar characteristics in that volume isn't large (but possibly due to the seasonal characteristic). This spring/summer/autumn will tell us a decisive story.
Not a D&G for sure, but there's a difference between short term and long term perspective.
Just for a thought
Just had discussion with Investor's Ed Bookshop owner yesterday, and we came to some conclusions:
1. Sharemarket has accelerated since the last correction and it's stretching further away from the fundamental. Trading volume suggests that fund managers are sitting on cash and not entering the market
2. Property has also shown similar characteristics in that volume isn't large (but possibly due to the seasonal characteristic). This spring/summer/autumn will tell us a decisive story.
Not a D&G for sure, but there's a difference between short term and long term perspective.
Just for a thought
I have a 15% LVR on my properties and 60k surplus in my margin account.
I should be investing but it doesn't feel right somehow.
You're in an enviable position, cashed up ready to pounce on bargain hunting opportunity. For a lot of us we just had to accept the current market risk and get in. As you've suggested, probably better to ride the wave now than never. The difference between RE and shares is that, I can't liquidate my property when tide turns, whereas dispose of shares is much easier. So the only way to minimise risk in RE is to pay down loans as fast as we could, and refinance as often as possible to "lock in" profit (like using put option or CFD) and use it when bargain emerges
Just as long as you're not with etrade or Commsec. LOL When the going gets tough they collapse.
The "Outback" hasn't had much in the way of high rise developments with the exception of Jamie's building so it escapes Moniques "innner city" eyes (bless her soul) but it hasn't deterred the buying frenzy from WA investors which started long before Harris recent posts about Frankston.
In December, after all our renovations were completed, we had an inspection from potential buyers as well as tenants.
The agent tried to get us to sell. One W.A. investor was looking to buy 25 properties. Sure it could have been the agent's hipe... but subsequent sales show that it was probably true, not surprising considering W.A.'s boom and increased equity held.
And some of it could be driven by eastern staters who bought in WA in the early 2000s, sold some of their WA holdings and are now buying in the east for less than what they got from their WA sales.
C
uld be Peter,News post December in the region from he REA, was that N.S.W. investors
were also collecting some IP stocks. Again no solid evidence apart from the increasing sales in the area.
East: No you stop bidding me up (he he he)
West: No you stop bidding me up (he he he)
Guilty, in WA it's pretty hard to find a bargain.....good to share the wealth I'd of thought ??
Not guilty your honour....
is it really creating wealth? unless the price is linked to a yield that can be readily serviced it is mostly illusion
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