Australian (ASX) Stock Market Forum

I can afford a house

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Flying Fish said:
Pity you are too old to enjoy your ill begotten gains.
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I'm sure that was probably a baited hook, but just in case it wasnt and you actually believe this...I'll paraphrase Oprah, "Luck is opportunity met with preparation". What idiot wanted to buy property back in '96 anyhow?? Probably the same kind of idiot who was buying in 2004. I don't get all the news from Aust over here (thankfully, Aussie media feels like Third Reich propaganda bombardment at times)...but am I getting the correct story that property is going up again? Anecdotally I have friends who are discovering this first hand ie. looking for houses and can't find one in their price range anymore, or other friends who bought less than two years ago and now you couldn't buy a s%#t house in their area for what they paid.
 
Stop_the_clock said:
LOL, too true

...Gloat street ...where every Tom, Dick and Harry was buying squillions of properties and advertising it to the world...has now turned into Tear Street, or is that Reposession Road or Broken Dreams Boulevard
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After yesterdays interest rate rise Home owners face new street names. The owners of the UBD street directory just added the new street names to the list:

Stress Street
Blown Budget Boulevard
Affordable Avenue
Crisis Cresent
Rate Rise
Heart-Break Highway
Penny-less Promenade
Collapse Close
Graveyard Gardens
Desperate Drive
Housing Heights
Rental Rise

Tent Terrace (This is where I live) ;)

and my friends live here...Park Bench Boulevard :rolleyes:

and my children will be living here... Cardboard Box Crescent :rolleyes:
 
8% high interest?
I remember 18%.

Kr is IF you actually had a house which youd bought in 1996 ish in Adelaide which you bought for say $95K (Thats what I paid for a 4 bedroom in Seaford) today that would be worth $290K Thats what I have just had it bank valued at) so youd have around $150K equity which you could take on a line of credit.
At a measly 8%
Then place it in your 23%P/A return Managed fund Returning you 15%P/A which you could compound.

Could even put an annex on your tent and have a few friends around for a beer.
 
Propety prices will start crashing from here on with the highest interest rates in over 10 years so I will be moving from Tent Terrace to Affordable Avenue sooner than I expected;)
 
tech/a said:
8% high interest?
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Well it is isn't it....relative to debt ratios its really high...its like some kind of miracle that our fragile little economy of greedy lazy sloths can manage to hold it together this long :rolleyes:
 
tech/a said:
8% high interest?
I remember 18%.

Kr is IF you actually had a house which youd bought in 1996 ish in Adelaide which you bought for say $95K (Thats what I paid for a 4 bedroom in Seaford) today that would be worth $290K Thats what I have just had it bank valued at) so youd have around $150K equity which you could take on a line of credit.
At a measly 8%
Then place it in your 23%P/A return Managed fund Returning you 15%P/A which you could compound.

Could even put an annex on your tent and have a few friends around for a beer.
Click to expand...

Tax free fund's here as well I might add.



Dave
 
Kathmandu said:
Tax free fund's here as well I might add.



Dave
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Damned good point.
Been using Lines of credit for years and never seen the obvious.
Puts a whole new slant on it for me!
(Rather than sell and lose use of 25% of capital)---

Thanks Dave.
 
Stop_the_clock said:
My account balance now sits at over $51,000. So much for the correction...gotta love this bull market;)
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In 2000 that would get 1/3rd of a house, in 2007 that doesnt even get 1/6th of a house, are people getting richer or just getting more digits in their accounts? :)
 
Just checked my account balance and it now sits at over $52,000...who said housing was unafordable:rolleyes:

Its quite amazing how housing affordability is the single biggest election issue this year, very closely followe by IR laws. Geezz even the baby boomers have had enough of paying the outrageous prices for houses as they move, up-size or down-size.

Its a national disgrace and something we she all be ashamed of...pricing a whole generation of young people out of the housing market, along with millions of families, and now many baby boomers!
 
My account balance just cracked over $53,000. Thanks again for all your concerns about the housing crisis. Gotta love this bull market!
 
I really hate :banghead: all the first home owner crap that
both partys go on with...ive owned 2 houses (little country town)
and have no hope in hell of buying a house in Sydney..note i said
Sydney not North St Marys.:rolleyes:
 
I know, I know, I Know how terriable this is hearing it, but just checked my account balance and WOOOOSHKA...now sitting at over $54,000

Thumbs down to the housing crisis and say hello to the bullish stock market.
 
Stop_the_clock said:
I know, I know, I Know how terriable this is hearing it, but just checked my account balance and WOOOOSHKA...now sitting at over $54,000

Thumbs down to the housing crisis and say hello to the bullish stock market.
Click to expand...

Better hurry up STC, house prices down there are going up faster than your super

Dave
 
Kathmandu said:
Better hurry up STC, house prices down there are going up faster than your super

Dave
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LOL, not going to buy into that argument ;)

lets just say I have made more in my super in the last few weeks than I would have made by buying a house and renting it out in the same period!

each to their own...I gather you are a "bricks and mortar queen"...there are plenty of them on this discussion board.

I am of the new breed....don't need a house right now and are happy to invest instead!

better run off now and sell your house...as prices are going to go south!
 

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