House prices to keep rising for years

[gav]

Haha yes it puts a smile on the face. New job is going great, and has a beautiful view of The Shrine and surrounds. I often walk the 1KM to my car at 11.30pm (I do shift work), nothing to fear here in St.Kilda.

Have enough for a house deposit now, just being patient and looking around. Although I wont be buying in St.Kilda, houses are a little out of my price range

 

[robots]

hello,

thats right safe as houses in sunny st kilda, walk the streets anytime

take your time finding that palace gav,

thankyou
robots

 

[kincella]

gav....I looked at st kilda prices last week...units are very affordable down there atm....around 300.000 or less...plenty to choose from...are you the same gav as the other 2 sites ??? sent a reply to the APF site this morning...but will repeat it here for the others

might need its own new thread for discussions
...................................................................................................
hyperinflation when it hits will be your friend...after gold, silver,,,realestate is the next best thing to hold...
if petrol is %5 a litre,,what do they think bread or milk will be....forget about buying a house....if you have one the mortgage will shrink....dollar devalued.
if you have a job...and interest rates at zero...it will be easier to hold the house...
but trying to buy in...they will need 10 times more dollars to buy the same thing
houses will hold their value...while you wait for the hyperinflation to end
here is a clue...

http://blog.livinginaustin.com/2008/12/2009-housing-and-economic-prediction.html

*****hyperinflation...think Zimbabwe....
here is a clue about what happens to property during that period
http://www.propertywire.com/news/af...ected-to-continue-in-zimbabwe-2008011293.html

 

[ROE]

http://www.news.com.au/business/money/story/0,28323,24882746-5013951,00.html

Funny how they talk about short of supply that keep price up but price keep dropping every quarter

Like many shares expert...price will go up

when do they do that? when is the bottum?
the truth is no one knows and as long as there is a shortage of money price keep will keep dropping ... I'm down the coast and every minute drive u see a property put up for sale ...sign of things to come..

 

[prawn_86]

I'm down the coast and every minute drive u see a property put up for sale ...sign of things to come..

There was a BRW story on this a few months back.

Coastal properties are usaully the first hit as people sell up their holiday homes.

 

[knocker]

hello,

thats right safe as houses in sunny st kilda, walk the streets anytime

take your time finding that palace gav,

thankyou
robots

Also you can go shopping for some nice ladies and pharmaceuticals. St Kilda has it all, please remember to wear thongs though lol

 

[Glen48]

WANTED INVESTORS:
Looking for investors to purchase a store in St Killda as RE keeps rising by 14.8% year, year out there will be a good return on your money, the store will sell tin undies due to the high demand for protection. The risk of getting a cap in the ass is high in this suburb.
There is also growing trend for the locals to wear socks with thongs, the thongs will have the Australian Flag screened printed on the face these will be a side line.
We expert to return 12% a month so any one who got caught in Storm or by Made off here is a good secure low risk.
We have arranged to have the store opened by a very well known local Celeb.
who's name escape's me.

 

[kincella]

Roe....couple of clues....the bottom of the market has been selling...so the median dives with it....and the headlines...40 billion or whatever wiped off....how much has been wiped off the stock market... for comparison purposes....
two types of investors.....the ignorant....and the informed....

now St Kilda...its become a tourist mecca....its growing up from the past slums...note all the national retailers in there now....not too much difference from any other shopping strip now...but 2 mins to the beach and 10 mins to the city.....
its still not my cup of tea....I prefer Toorak, and Chapel St....compared to the bohemian/tourist types....but its ok for a visit...and I love the beach...only walk the dog there now...these days...then go for coffee and cake in Acland St.....

Too each his own....
on a CA tonight..forget which one 9?....tree change thing..talking about a house for $80,000....at 3% interest thats 2400 a year for interest only....
every man and his dog can afford a house at those prices

 

[gav]

kincella, yes thats me on APF. I just posted a reply there.

 

[kincella]

The tree change segment on ch 9 last night....re Bernard Salt's bargain areas in each state..meet certain criteria...ie within 3 hours drive of a capital city etc.
first one was Bright, in Vic NE.... a weekender for $80,000 and the average between 250,000 to 300,000, thought most of the areas were on average around the 300.000....
now I do not find that a bargain, when you can probably get one on Melb's outer suburbs for a similar price and only an hour to the city....

the tree change thing might be ok for retirees, but not for young ones needing work......hardly any jobs out in those remote places amongst the trees

I grew up in a TREE place for first umpteen years,,,,and I don't like the trees or the ferals that moved into the area, and changed it from a lovely place....so my advice is always biased, toward the inner city....

I only like Melb, and only 1-2 suburbs....so I dont really care for all this talk about prices (the one size fits all models worldwide propoganda)....that will always happen in the not so popular suburbs....and who in their right mind would look at some of those places in Sydneys west....the ones always on the news for riots, fights , gangs taking over the streets etc.....they are feral suburbs and always will be....until the gangs kids grow up....has Broadmeadows in Vic changed over the years ???, since the gangs there grew up, and now just full of oldies on the pension....guess it has, its not in the news so much today.....

Lets renew this conversation in a year or so.....maybe more time....good inner city locations will hold their own and become even more expensive in the future.....the others will recover and provide basic housing....but never compare them to the benefits of the inner cities....world wide

 

[Go Nuke]

gav....I looked at st kilda prices last week...units are very affordable down there atm....around 300.000 or less...plenty to choose from...are you the same gav as the other 2 sites ??? sent a reply to the APF site this morning...but will repeat it here for the others

might need its own new thread for discussions
...................................................................................................
hyperinflation when it hits will be your friend...after gold, silver,,,realestate is the next best thing to hold...
if petrol is %5 a litre,,what do they think bread or milk will be....forget about buying a house....if you have one the mortgage will shrink....dollar devalued.
if you have a job...and interest rates at zero...it will be easier to hold the house...
but trying to buy in...they will need 10 times more dollars to buy the same thing
houses will hold their value...while you wait for the hyperinflation to end
here is a clue...

http://blog.livinginaustin.com/2008/12/2009-housing-and-economic-prediction.html

*****hyperinflation...think Zimbabwe....
here is a clue about what happens to property during that period
http://www.propertywire.com/news/af...ected-to-continue-in-zimbabwe-2008011293.html

Um unless you know Gav pretty well...how do you know that $300,000 is "very affordable" for him??

A presumptuous comment if Ive ever read one

 

[kincella]

oh come on now....300,000 is the first home buyer range....at 5% interest its 15000 pa 4% =120000.....etc and 30 years to pay off the capital...

mediocre or just ill informed ?

 

[kincella]

Interesting to read the negative comments against property as an investment....or is it just an excuse ?
Since less than 10% of the population will ever invest in an IP....90% do not, but 70% of the population are home owners....
copy of a post I made on another site today on the subject
..................................................................................................
just read parts of Jan Sommers 'building wealth in changing times'...it was first released in 1994.....
I did not buy it until 2002, after I had purchased the bulk of my props....and only then because of all the gush surrounding the book.....and to see how her methods compared to my own assumptions....

interesting reading parts of it again....less than 10% of the population invests in property,
the following is extracts from her book
.........................................................

then there are all the excuses people have for not investing....here are just ten of the main excuses

1. I am afraid to borrow money (the most common)
2. I cannot afford to ( the next most common)
3. waiting for interest rates to go down
4. I might become unemployed
5. waiting for house prices to go down
6. waiting for inflation to go down
7. waiting until I have saved some money
8. too many people in property already
9. waiting for the right time
10, my friend, spouse, uncle, or grandfather don't think its a good investment
*** FEAR of all or any of the above
Human nature
apathy, inertia, laziness, lack of time, lack of confidence in one's own ability to make decisions

90% of the worlds wealth is in the hands of 10% of the population....
that 10% overcome fear,inertia, and lack of confidence, and go and do something about it....

..........................................................
some or all of the above sound familiar to you ???
well most of it comes from the bears .....they all have some excuses or many excuses.....and it comes in the form of the arguments they have against property as an investment......
hence the reason there are so few property bulls....less than 10% of the population invest in property....90% do not...
but 70% of the population buy their own home.....
I think its funny

 

[numbercruncher]

Hello Kincella thanks for your 10 mute points, pretty sure i read them in a sales brochure.

Thankyou.

PS. Nice sig " I hold for 10 years or the mv reaches my sell figure "

Have you ever held a property for 10 years ?

 

[tech/a]

All investments---property included will move form High demand to Consolidation to Little demand.

Understanding how to take advantage of the cycle in which you find yourself with your investment--property or otherwise---will see you investing differently at each point of the cycle.

"Excuses" at various points in a cycle of an investment may well be valid.
Excuses which become perminent are and always will be killers of investment.

Just as it is rediculous to be frozen by indecision its just as rediculous to make no decision/s at all!

 

[prawn_86]

Yeh i especially like number 2 "I cannot afford to"

Ever thought that some people actually can't afford to. I know i'm not going to go massively into debt and be struggling to reach re-payments just to "own" a home

EDIT - Well said Tech also

 

[Go Nuke]

Yeh i especially like number 2 "I cannot afford to"

Ever thought that some people actually can't afford to. I know i'm not going to go massively into debt and be struggling to reach re-payments just to "own" a home

EDIT - Well said Tech also

+1 to that Prawn!
Some people just dont understand how the other half live.

Some people just cant or dont want to live with the stress associated with all those points listed.

 

[tech/a]

Some people just cant or dont want to live with the stress associated with all those points listed.

You dont have to stress.
Stress only comes from poor planning and lack of understanding.

 

[Go Nuke]

oh come on now....300,000 is the first home buyer range....at 5% interest its 15000 pa 4% =120000.....etc and 30 years to pay off the capital...

mediocre or just ill informed ?

All Im saying is that we dont know his income level or status etc

Using these figures, I know alot of people that would be spending over 30% of their combined income to repay this...

 

[kincella]

??? whoever asked the question have I held prop for more than 10 years.....well the first prop for 30 years....others purchased from 2000-2002,
still hold 1 coming up 9 years....is that close enough....others 6-8 years

sometimes the props have increased so much in the first couple of years 2-3 instead of my 10 year goal...so I sold when they reached the 10 year figure ...even though it may have been held for only 2 years...bought 10 sold half, hold 5