hello,
5yrs gone, 10yrs gone, 20yrs is nothing man, year on year it appears to get quicker and quicker and some others may share that thought around more
thankyou
robots
i am a non home owner hoping for big falls in prices... i'd like a house without the lifetime enslavement currently associated with buying one.
Thats nothing new -I am ageing poor idealist - my chosen methodology was then outside the box as it were - real estate. Worked well.
Thats nothing new -I am ageing poor idealist - my chosen methodology was then outside the box as it were - real estate. Worked well.
Sadly - biggest pawns and tools of the lords - your good old graduates educated by unwittin academia - fodder for the system of snakes and ladders - footsoldiers of commerce!
No thanks
Tech, with all due respect, some of those questions are completely loaded and complete BS.
For #1, going into debt at the start of a cycle of high interest rates in my mind is not smart. That is a question that needs to be asked of the people already in. As we can't fix for long terms here.
For #3... you could just as easily ask why rents have vastly exceeded wage growth, and are still not even in line with property prices, and how long it will stay like that.
For #4. Just buy gold. Seriously.
Serously, these inflation fears are farcical. 2009 will be a year of deflation, don't be surprised to see the RBA cash rate with a 2 handle on it. There is no urgency to rush out and buy property in the next 12 months.
Originally Posted by kransky View Post
i am a non home owner hoping for big falls in prices... i'd like a house without the lifetime enslavement currently associated with buying one.
glen thanks for the advice...really, but I am fairly stubborn....
I have bought 10, sold 5 made good money everytime....would never dream of selling for a loss, and I have earmarked one for a major renovation, with very low interest rates, it should be a breeze....
claim the tax loss on running costs,if there is a loss on the other props
hopefully there will not be a shortage of builders...but I doubt it.....
depending on how busy I want to be,,,might buy another little bargain if I can find one....just rent it out and sit back and wait....for the recovery....
or I can do nothing....a passive investment....
see regardless of all the predictions....with low interest rates its better to be borrowing and buying bargains...than doing nothing....changes the goal posts....would only pay down capital when rates are high...do the opposite when rates are low....but this is my personal view,,,,contrarian type investor, inclined to do the opposite of what everyone else is doing....worked for me before.....
refinanced loans in December...wiped off 16,000 pa in 2 loans....expect to better that with the next rate cuts...aiming for a reduction of 30,000 in interest costs...like having another wage without having to work for it...
cheers
Got it in one Mr Burns
Were property prices to plunge I along with many bulls would be in there buying like crazy cause we look long term and below a certain threshold plus with low rates you would be a fool not to. We obviously are the biggest of them all as we did it with the last recession when after that any fool could have made money and we did.
Now this time , should it happen, guess who will be there before the hopeful bears, Passive and his cronies buying up big for his kids and grandkids because it will be an opportunity of a lifetime. Now with another million or so cashed up boomers in Aus doing the same what chance have the hopefuls got? Some have no idea. Top end of town have lost heavily and quite frankly if it all came back down it would not be long before it zoomed up again because there is so much in favour of property investing in Australia it seems absolutely ridiculous to preclude this asset class from your portfolio if you have half a decent income and equity elsewhere.
ever since they changed the capitals gains law for home value increase every tom dick and harry has become a property investor... at the cost of the younger generation. at current house affordability levels we young people are majorly screwed.
Joey...whatever...banks tightening credit....where is the evidence ? I called CBA early Dec to get information about their loans....not a customer, but the guy on the other end said most australians were a customer...he checked my name, sure enough...I was with commsec, so am classified as a cba customer...refinance approved over a 10 min tel call....
no worries....not hocked to the hilt...plenty of equity....
my lender was not passing on the rate cuts....hence the change
happy days
It must also be said that the oversupply in the US only applies to certain areas in the Sun Belt and Rust Belt. New Yawwwk, and the NE doesn't have oversupply, yet has still seen hefty falls.
Joey...whatever...banks tightening credit....where is the evidence ? I called CBA early Dec to get information about their loans....not a customer, but the guy on the other end said most australians were a customer...he checked my name, sure enough...I was with commsec, so am classified as a cba customer...refinance approved over a 10 min tel call....
no worries....not hocked to the hilt...plenty of equity....
my lender was not passing on the rate cuts....hence the change
happy days
The analogy to the share market with property fits in how?
That has been our point all along - this is not a cheap shot - the nature of this asset class is such that it primarily is a dwelling and therefore not susceptible to the gyrations of the stockmarket. The property holder owns a house as a home. In reality a second house is an investment and that is shielded by the attitude of the owner of PPOR in Australia - sorry can't see the connection.
the press is headlining nothing about houses or RE in general
Brings out the pic again
Sorry, but which change to capital gains tax law would that be exactly and when???
Are you referring to the actual original introduction of the requirement to pay capital gains tax on investment property (and anything other asset for that matter) capital profits, which was introduced by the Hawke government in 1984?
Ie, prior to 1984 all profit from investment property was absolutely tax free, and I can't see how that change supports your point above??
Beej
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