Are you trying to emulate his "success"?
No, but those who buy right now will likely be.
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Are you trying to emulate his "success"?
Can you link this? I don't recall having seen it.
No, but those who buy right now will likely be.
I don't understand why those that believe there will be massive corrections in prices don't just take their bat and ball and go home. Sell their property because "it's too risky" or "it'll lose money" or any one of a number of 'reasons' known only to themselves (and hey, that's fine if they do, it is a free world after all) and wait it out until they feel it's safe to jump back in the water.
you are really wasting your time because this is a PROPERTY INVESTING FORUM and it is where people come to discuss property related issues, not myths
As someone who has lived nearly a decade of my life overseas, most of that in recent years, I'm here out of morbid curiosity as to why Australia thinks they are any different to the rest of the world in regards to the unsustainability of house prices outgrowing household income for very much longer
But we never invited anyone onto this forum to "convince" them to buy property. Unlike others who come to this forum with the sole purpose to "convince" us to sell up.Anyway gents and ladies, we are not going to convince each other either way.
Time will tell in 2011/2012 whether "experienced" bulls are correct, or whether property in fact behaves like ANY other asset (and "surprise", actually has times of price falls, and bigger corrections).
I'll repeat myself here. It IS an open forum for discussions. I think the thing that annoys a lot of people here, however, is that you and others try to FORCE your opinions on others. Instead of a rational conversation, we get the old "you guys will see, we're right and you're wrong" rants. That does not serve any purpose whatsoever. Maybe if you guys took the time to listen you might just find that there is a lot you could learn from some of the "old timers" that have been around a while.Sorry skater, I mistook this for an open forum, to discuss issues that potentially impact property ;-).
Will to so sweet to come back in 2011/2012 and check up on why the "experts" did not pick the coming trend. For now, I'll worship your "wisdom".
No one says we are selling up. I've been saying deleverage (pay down debt), to be able to absorb the shock. This does not require selling, as we'll have 1.5yrs to pay down debt. Yes, like yourselves, we'll some loose equity on a correction.
I would guess that many of the "experts" have worked out long ago that we need a buffer to "absorb the shock" . Hardly "news" to most of us.
Anyway gents and ladies, we are not going to convince each other either way. Time will tell in 2011/2012 whether "experienced" bulls are correct, or whether property in fact behaves like ANY other asset (and "surprise", actually has times of price falls, and bigger corrections).
Most of us are not "surprised" either . We've seen it all before. Skater.... what a fantastic post. So well explained, but they STILL will not understand that we factor in the falls, flat periods etc. They never will.
To the D&G brigade.... I, for one, would give your more credibility and respect if you could try to leave off the bwahahahaha and hahahaha comments, and the wait and see, na na nanana type rubbish . Pretty childish really. Classic example just below ....
Will be so sweet to come back in 2011/2012 and check up on why the "experts" did not pick the coming trend. For now, I'll worship your "wisdom" ).
Cheers
Who said that prices will keep outgrowing houshold income?
There is a natural balance to everything so if prices go up too much they'll eventually correct to the norm by either falling or by staying stagnant for a long time
I also find it interesting that those in the 2nd category take more offense to anyone questioning their beliefs than those in the first who are more willing to critically analyse and discuss theirs.
Does this also apply to the bullish members of the forum?
...but I don't recall anyone here telling the rest of the world that "now is the time to buy, ....
I will put my hand up here and confess to having done that (or at least that part of your statement skater.)
I did so in June of 2009, when I was having a similar argument with investor888 (who by the way, did not have the decency to show up as we'd agreed, at the appointed time, to "see who was right". I guess because he was proved wrong by the market)
I posted this comment: http://www.somersoft.com/forums/showpost.php?p=561094&postcount=38
At the time we were buying 2brm units in the Inner West for $420K. Those very same units have been selling for $520K for many months now. So, $100K CG for 12 months worth of holding, if my advice was acted on
I quoted only half of your statement and that, out of context....sorryOK, well, maybe I'm partly wrong here.
That's correctYou still did not say to buy anything in any market, did you? It was a well researched specific area that, based on research, was already showing the signs that such a purchase was not a risky proposition rather than you just having a "guess" or a "gut feel" that it would be wise to purchase then.
I may be entirely wrong, but I don't recall anyone here telling the rest of the world that "now is the time to buy, and if you don't follow my lead you are going to live a life of poverty".