House prices to keep rising for years

[Kimosabi]

hello,

actually temjin you dont need to be licensed to give information about real estate or loans,

similar to taxation advice if you dont charge then no issue,

just doing my bit for the communiy again

thankyou

robots

You should be in Washington working for George W Bush, he'd love you..

Up is Down, Right is Left, Wrong is Right, Black is White, Waterboarding is not Torture and the Economy is in Great Shape...

 

[numbercruncher]

And house prices never go down in the long term ( just how long is piece of string ? )

 

[robots]

hello,

friends have just gone to live in washington and work with military,

I dont like the idea of having to carry an ak47, 9mm with laser, 303, uzi, rocket launcher, pen gun and rambo knife on my bicycle just to get around the neighborhood

i prefer the love, peace and happiness of life here in melbourne

thankyou

robots

 

[explod]

hello,

actually temjin you dont need to be licensed to give information about real estate or loans,

similar to taxation advice if you dont charge then no issue,

just doing my bit for the communiy again

thankyou

robots

Yeh, and I think you could be on slippery ground trying to say you dont' have to be registered to give advice because you dont' charge a fee. That is why most posters are carefull to give qualification and reasons of substance for thier claims. I think some latitude is given to ensure good spirited debate but that could change dramatically if push came to shove on the issue

Perhaps a qualified person could advise on the point.

 

[explod]

hello,

friends have just gone to live in washington and work with military,

I dont like the idea of having to carry an ak47, 9mm with laser, 303, uzi, rocket launcher, pen gun and rambo knife on my bicycle just to get around the neighborhood

i prefer the love, peace and happiness of life here in melbourne

thankyou

robots

And what has that to do with the issue of real estate as an investment vehicle.

My earlier comment that you may be some kind of nut was I thought in retrospect, a bit over the top and to some extent was tounge in cheek, but now you are making me believe it

 

[numbercruncher]

lol Robi I love how you attempt to change the direction of the debate, weve now changed countries and blown their crime rate out of all sort of proportion to boot, In some vague attempt to justify Melb house prices in bubble territory ?

Melbourne has stacks of crime and guns and drugs etc etc etc. Just the Crims and Police are the only ones with guns.

 

[robots]

And what has that to do with the issue of real estate as an investment vehicle.

My earlier comment that you may be some kind of nut was I thought in retrospect, a bit over the top and to some extent was tounge in cheek, but now you are making me believe it

hello,

hahahahahahahahahahahaha

thankyou

robots

 

[robots]

hello,

no bubble NC,

plenty who cant afford RE, but no bubble across AUS, go rent, no issue

it is tough for some people life but they need to take a walk in the other direction, against the flow,

see things from a different perspective

thankyou

robots

 

[ROE]

lol Robi I love how you attempt to change the direction of the debate, weve now changed countries and blown their crime rate out of all sort of proportion to boot, In some vague attempt to justify Melb house prices in bubble territory ?

Melbourne has stacks of crime and guns and drugs etc etc etc. Just the Crims and Police are the only ones with guns.

Maybe this is in a US city not Melbourne

http://www.news.com.au/story/0,23599,23265393-421,00.html

 

[robots]

hello,

gee number you must have a lot of browser's open

thankyou

robots

 

[Tom Ronalds]

QUEENSLAND'S buoyant housing market is teetering on the edge of a downturn with new figures revealing a 38 per cent jump in homes for sale.

Interestingly enough I spoke with one of the top Cairns builders on Friday - a fellow who is certainly not cheap, but has a reputation for consistently outstanding quality. He reckons he's got no new work coming through after the current lot of homes are completed.

I wonder what this may mean?

Yet in other areas, the local market is undoubtedly still strong. A townhouse near where I live sold within a week from listing, for a price that implies a net rental yield of 2.8%.

Go figure. On this sort of data, I'd be pretty reluctant to believe that these purchasers are going to see strong capital growth over the medium term. Likely the contrary.

Tom R.

 

[robots]

hello,

ah yes, the old capital growth furphy Tom R

thats fine, I hope the builder doesnt build anymore houses and listens to your advice about how poor the rental yield's are and the horrorable truths of home ownership

let the wealthy enjoy life even more

thankyou

robots

 

[Tom Ronalds]

Yeh, and I think you could be on slippery ground trying to say you dont' have to be registered to give advice because you dont' charge a fee. That is why most posters are carefull to give qualification and reasons of substance for thier claims. I think some latitude is given to ensure good spirited debate but that could change dramatically if push came to shove on the issue

Perhaps a qualified person could advise on the point.

The guy's a troll. He's got no idea, as is plainly obvious from his posts.

Of course you have to be licensed to give advice.

If you've ever been to a public, general presentation by, say, your bank's financial planners or a big investment manager like Colonial (CBA), Challenger or BT (Westpac), you'd know they go to great pains to provide adequate - i.e. mile long - disclaimers about any advice given being intended for general purposes only.

This is and long has been a requirement by ASIC and one can get prosecuted if specific advice is given without a licence and without ensuring you "know your client" first. This applies even to advice given at a friend's barbecue and is the basis for cases like the one in Tasmania a couple of years ago where a financial planner got his licence suspended for several months because he gave - free - advice to his relative without providing him with a written Statement of Advice.

Simple bank products can be sold without a licence and so can real estate - however the difference there is that both the bank staff and the real estate agents are not supposed to give "financial" advice - that's why they are "clerks", "agents" and not "advisers".

Agents supposedly work for the seller (although too often they just work for their own commissions), while advisers - at least the ethical ones operating on a fee-for-service basis - work for the buyer [of financial products/advice].

The fact that real estate agents, who more often than not have very little special skills and next to no idea about investing & tax and financial matters, do indeed give what amounts to financial advice, is a long standing issue the financial planning community has been trying to raise with the relevant authorities (ASIC).

Unfortunately ASIC's excuse is that because real estate is regulated by the States, while financial planning is regulated by the Feds, they have no jurisdiction against the spruikers.

This is why so many real estate fraudsters like Henry Kaye can get away with consistent highway robbery for sometimes up to several years, before someone finally does something about it.

Tom R.

 

[Joe Blow]

robots,

Either contribute something worthwhile to the discussion or please just stay out of it.

Your trolling is becoming more and more irritating by the day.

 

[numbercruncher]

Interestingly enough I spoke with one of the top Cairns builders on Friday - a fellow who is certainly not cheap, but has a reputation for consistently outstanding quality. He reckons he's got no new work coming through after the current lot of homes are completed.

Also a couple of sizeable QLD building companies hitting the wall lately I notice.

The Queensland Building Services Authority (BSA) has issued a warning about a second Sunshine Coast construction company less than two weeks after the collapse of Real Property Constructions (RPC).

http://www.abc.net.au/news/stories/2008/02/19/2166620.htm

 

[robots]

hello,

since you on to Henry Kaye, he is being acted upon for fraud against an insurer,

he sold property to people who were too lazy to do things themselves, so why shouldnt he earn money from that?

isnt that why financial "advisers" get a nice fat commission for selling products as you just told us, not a lot of difference really

both are taking a product to the consumer,

thats rubbish about ASIC, if you dont charge there is no way you can be prosecuted, its the same for tax advice,

daily my work buddy's ask for advice on tax and financial matters and are more than happy to assist,

the best one at the moment is after the GST came in, alot of sole traders (mostly service providers) earning less that 50k (now 75k for non GSt registered) went to their accountant who proudly told them you will be better off being GST registered

what a croc, all of a sudden the BAS statements got sent to the accountants office, and the nice receptionist rings up said person informing they better come in to fill out quarterly BAS, thankyou $150

you are right about the clerk thing, but I think it is more prevalent in the accountancy and financial advise inductsy, glorified clerks

thankyou

robots

 

[explod]

Thanks Tom for you effort and comprehensive explanation.

It is obviously an RE Robot and should be ignored by all. Problem is a lot of newcomers can get the wrong idea from the crapola and one feels (not that I am any expert) compelled to ballance the scales.

I'd have thought some of the posts should have been deleted. I suppose to some it is entertainment but to most, investing the hard earned is serious business.

Cheers explod

 

[robots]

hello,

okay yes I apologise to everybody,

sorry

have a nice evening

thankyou

robots

 

[Tinpusher]

Tom Ronalds check PMs pls.

 

[tech/a]

The guy's a troll. He's got no idea, as is plainly obvious from his posts.

Of course you have to be licensed to give advice.

If you've ever been to a public, general presentation by, say, your bank's financial planners or a big investment manager like Colonial (CBA), Challenger or BT (Westpac), you'd know they go to great pains to provide adequate - i.e. mile long - disclaimers about any advice given being intended for general purposes only.

This is and long has been a requirement by ASIC and one can get prosecuted if specific advice is given without a licence and without ensuring you "know your client" first. This applies even to advice given at a friend's barbecue and is the basis for cases like the one in Tasmania a couple of years ago where a financial planner got his licence suspended for several months because he gave - free - advice to his relative without providing him with a written Statement of Advice.

Simple bank products can be sold without a licence and so can real estate - however the difference there is that both the bank staff and the real estate agents are not supposed to give "financial" advice - that's why they are "clerks", "agents" and not "advisers".

Agents supposedly work for the seller (although too often they just work for their own commissions), while advisers - at least the ethical ones operating on a fee-for-service basis - work for the buyer [of financial products/advice].

The fact that real estate agents, who more often than not have very little special skills and next to no idea about investing & tax and financial matters, do indeed give what amounts to financial advice, is a long standing issue the financial planning community has been trying to raise with the relevant authorities (ASIC).

Unfortunately ASIC's excuse is that because real estate is regulated by the States, while financial planning is regulated by the Feds, they have no jurisdiction against the spruikers.

This is why so many real estate fraudsters like Henry Kaye can get away with consistent highway robbery for sometimes up to several years, before someone finally does something about it.

Tom R.

Tom

Your one of the few F/A's that have taken "Intellegent" part in discussion.
I have 2 very good friends who are F/A's and 2 who are F/P's (Financial Planners).To be honest only ONE of these has been honest to me with regard to F/A's very limited (due to hobbling regulation) role in financial education and advising for clients.
As is evidenced in this passage

This applies even to advice given at a friend's barbecue and is the basis for cases like the one in Tasmania a couple of years ago where a financial planner got his licence suspended for several months because he gave - free - advice to his relative without providing him with a written Statement of Advice.

Its no secret here that I dont have a high regard for the vanilla variety of F/A/P's.

Agents supposedly work for the seller (although too often they just work for their own commissions), while advisers - at least the ethical ones operating on a fee-for-service basis - work for the buyer [of financial products/advice].

Fee for result from F/A/P's would be much better.Perhaps then youd see the cream rise to the top.

The fact that real estate agents, who more often than not have very little special skills and next to no idea about investing & tax and financial matters, do indeed give what amounts to financial advice, is a long standing issue the financial planning community has been trying to raise with the relevant authorities (ASIC).

Try getting an F/A or an F/P to speak frankly on Property OR share TRADING for that matter.Seriously and not pointing the bone at you Tom BUT those I have spoken to and (that now totals about 8) only one no 2 a CPA with property had even a passing knowledge of Property investment let alone developement and TRADING well-----when I asked what Risk management techniques they employed with their clients their command of the English Language turned to in coherent babble and their eyes glazed over.

This is why so many real estate fraudsters like Henry Kaye can get away with consistent highway robbery for sometimes up to several years, before someone finally does something about it.

Personally I feel the Financial Advisory Industry "Generally" hinders personal wealth developement more so.Product orientated and a sad lack of even basic Business/Property and Trading practices sees either bad advice or NO advice.
There are exceptions as there are exceptions with your "spruikers".

I do not know of one advisor telling clients to buy as much property as they could in 1997----Infact those I know said I was nuts in 2000 they were asking to chat with me over a barbie or dinner.Strange???

Oh and only 1 bought an IP and 1 age (45) bought his own home---had and still has a Porsche!---whats that tell you other than Image?
(Tells me dumb debt --but in his game of smoke and mirrors---a requirement---who'd talk to an F/A in a 2000 Commadore?).

Just posting some balance.