wayneL
VIVA LA LIBERTAD, CARAJO!
- Joined
- 9 July 2004
- Posts
- 25,954
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Schoolboy stuff toothfairy.
Schoolboy stuff toothfairy.I know both you & Wayne are not.
I am not arguing anything, I am just stating some facts for everyone else who is interested. I know both you & Wayne are not.
I am also not suggesting to anyone to buy anything now, except milk & bread.
I am simply saying I bought properties long long time ago and they have increased in value since this thread started.
Lucky me, I didn't buy them to annoy you.
With all due respect to all involved, I must point out that asking the REIV to comment on house prices is much the same as asking Ford to comment on whether the Falcon is a good car. They are biased to put it mildly.Hi everyone,
This thread was actually started by krisbarry in Sep 05, haven't heard from him much lately, must have bought in 05 and enjoying. The title of the thread has been proven WRONG for the last 22 months. See my charts below from REIV.
Criminal Deception In Real Estate
Real estate agents in Victoria are often unaware that practices regarded as "standard" in the real estate industry are, in fact, serious criminal offences.
Furthermore, because the concept of agency involves a high degree of trust, an estate agent who commits a criminal offence through a "breach of trust" will be sentenced more harshly if found guilty.
Any breach of trust is an aggravating factor in sentencing. The greater the breach of trust, the more likely it is that a term of imprisonment will result - even for someone with no prior criminal history.
The fact that such practices may be common in the industry is neither a defence nor a mitigating factor to warrant leniency.
Agreed this is quite possible.Getting harder and harder,2 incomes for even a unit.
In the UK its 2 very good incomes and possibly a boader in many cases.
Same in Europe in many cases (Larger cities).
Eventually most will rent until the olds pass on and the House equity split between sibblings and houses then purchased.
Wont be un common to see people buying Reasonable homes for the first time in their 50s+.
Agreed this is quite possible.
But surely you are not arguing that this is a good thing? Should we not as a society be aiming to improve the standard of living of future generations relative to the present rather than sending them backwards?
I didn't expect anything but just solid investment. As I said only 7% PA compound. It's only worthwhile if negatively geared & for long term. Shares have gone up heaps more. But they are risky to gear unless you go for MacQuarie Bank's GEI (Guaranteed Equity Investment) which they charge high interest. No downside except interests which are tax deductions.Its great debate though !
Im not having a dig at you, I know you bought your properties a long time ago and deserve your return on that investment , But having purchased your properties so long ago did you at the time of purchase think they would be worth anywhere near the prices they are now ?
With all due respect to all involved, I must point out that asking the REIV to comment on house prices is much the same as asking Ford to comment on whether the Falcon is a good car. They are biased to put it mildly.
One particular problem with most house price data is that it is not quality adjusted. This is significant given the renovation boom - "average" selling prices ought to have risen due to renovations even if the market was falling and the same unrenovated house had declined in price.
I personally put a bit more faith in the Australian Property Monitors data for individual house sales though it's far from perfect. Amongst other things, it's interesting to note that agents seem to be consistently overstating selling prices. Houses are cheaper than you might think when you look at the price they actually sell for rather than what the agent would like you to believe. One high profile agent actually admitted that prices are overstated both asking and sold when questioned on the matter.
I'll give you some more realistic returns from my experience. Melbourne, 2 bedroom house, 7kms from CBD.
Purchased - Jan 04 - $430k
Sold - July 07 - $519k
Return = 21% or 8% per annum
Take out costs in (stamp duty) and out (commission), more like 5% per annum. Basically lived rent free for 2.5 years (recovered interest costs)
Would you call that booming prices - I think not. Property is still 'fairly' priced I think.
.
Agreed this is quite possible.
But surely you are not arguing that this is a good thing? Should we not as a society be aiming to improve the standard of living of future generations relative to the present rather than sending them backwards?
I think you are making that assumption on limited information, if, as you mentioned before, you are referring to Europe.But it has manifested itself in other countries.
e.g.Germany for instance, is at bargain basement prices in comparison. ... Check out Berlin if you want to see value.
But it has manifested itself in other countries.
Dont see the word ALL in the above sentance.
Perhaps the addition of the word SOME would be more appropriate.
AND
Just my opinion could have been another.
hello,
save your money flying fish and put into shares or property,
84% clearance rate in melbourne yesterday,
thankyou
robots
Hi everyone,
this thread has become quite hot since the share market had a bit a correction. More people have become interested in properties and are wondering whether it will crash like the stocks. Quite a few bears around this thread as well, some has been here for a long time since 05, much longer than myself.
This thread was actually started by krisbarry in Sep 05, haven't heard from him much lately, must have bought in 05 and enjoying. The title of the thread has been proven WRONG for the last 22 months. See my charts below from REIV.
If someone still wants to debate (I won't say "argue" because I got told off last time by someone) about the topic, we should start a new thread called "House prices to stagnate from 08/2007 for 'years' " ! Any takers?
Lets not forget the effects of a tradie shortage, plus greater expectations (bigger houses), higher "eco" standards and tougher OHS standards are having on the the cost of building a new home, all of which maintains price pressure on existing homes.
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