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Sunday Mail in Adelaide says Brighton in SA has gone up 30% in the past 12 months...
I just don't see how that is possible.
I just don't see how that is possible.
Sunday Mail in Adelaide says Brighton in SA has gone up 30% in the past 12 months...
I just don't see how that is possible.
The odds of Pulling actual facts from the Sunday or courier mail would be equivalent to watching an unbiased report on today tonight - it just can't happen
I would 100% agree with you.
Today Tonight had the JFK conspiracy solved apparently, except I missed it.
Sounds like the banks are trying to deflate prices in a controlledmanner.
Sounds like the banks are trying to deflate prices in a controlled manner. Forclose on one sector at a time to minimise write downs.
http://www.smh.com.au/business/1-billion-in-distressed-property-on-the-b-20111122-1nscp.html
Well trainspotter, they either deflate the property prices or FWA will be chock a block with pay claims.
If house prices don't come down, wage claims will kick in to compensate for lack money to buy a house.
If that happens everything resets to the new norm and we can get rid of all the coins under $1.
My Brother-in-law purchased a new property at Ocean Grove (Vic) last year. I mentioned my concern to him and suggested renting for awhile. However you cannot step in the way of a property bull I have found. Paid $450,000 in full, no debt. A nearly identical new property on the market up the street has a price tage reduced to $365,000. Arr well.
The following from Morgan Stanley is in line with what a lot of us bears have been pointing out for some time. Arr well.
http://www.morganstanley.com/views/gef/archive/2010/20100817-Tue.html
Amazing what a difference 12 months can make isn't it??
It also shows how you can make money out of RE. Let's say you purchased aforementioned "new house" for $365,000 and it sells to someone like explods brother in law for $450,000 !!!!!!!!!! Arrr well ....... another one born every minute I reckon.
There is more to wage claims than mere house prices. Many factors force the Unions hands to bring pay disputes to council chambers. Have a closer look at who is flexing their muscles and it sure as **** aint the banks. Banks don't want prices to fall as their loan books would have slightly higher default ratings which in turn will effect the shareholders confidence thusly watching their propfits going down the gurgler.
Banks require happy little vegemites in boxes diligently toiling away to pay the mortgage. Good governance requires this also so that people are employed to pay the taxes which feed the great party machines.
Pay claims are coming in vogue RIGHT NOW !! Look at QANTAS. Nothing to do with house prices as they already have come down over 3% (according to the ABS figures) in the past 12 months. Look at CPI and the price of living/petrol/bananas/state taxes on electricty/gas/water yadda yadda yadda.
What does this guvmint do to afford all of this? Why .... introduce more taxes of course ! Wait until we have full blown wealth distribution when the Feds take the mineral states to the cleaners. Then you will see house prices plummet as everyone has been prediciting as unemployment goes through the roof.
Anyhooooooo ...... back to topic please.
Was a bit out, on questioning my Wife her Brother brought the place in March of this year.
And I am sure the building company who did the job up the road on the March price levels would be a pit peeved. More than a 20% drop in eight months.
So maybe the one in every minute could change a bit soon.
I reiterate ....... let's look at the maths of this transaction.
Let's say we borrow 80% of value of $365,000 principal at 7.5% = $292,000 and $21,900 per annum or $1,825 per month and $73,000 in deposit. $1,825 x 8 months = $14,600 interest component. $87,600 total outlay (insurance, rates stamp duty, etc) to be added in later.
Sell house for $450,000 = $85,000 gross profit in 8 months or $127,500 per annum. Minus sales commission and rates and taxes and stamp duties, solicitors fees etc. Let's say $20,000 = $65,000 nett profit.
Let's not get into capital gains tax as you should be better structured to be able to offset this kind of profit with carried forward losses.
So I just turned $87,600 into a nice little earner !!
Please feel free to post percentile basis return figures
So I just turned $87,600 into a nice little earner !!
Please feel free to post percentile basis return figures
I reiterate ....... let's look at the maths of this transaction.
Let's say we borrow 80% of value of $365,000 principal at 7.5% = $292,000 and $21,900 per annum or $1,825 per month and $73,000 in deposit. $1,825 x 8 months = $14,600 interest component. $87,600 total outlay (insurance, rates stamp duty, etc) to be added in later.
Sell house for $450,000 = $85,000 gross profit in 8 months or $127,500 per annum. Minus sales commission and rates and taxes and stamp duties, solicitors fees etc. Let's say $20,000 = $65,000 nett profit.
Let's not get into capital gains tax as you should be better structured to be able to offset this kind of profit with carried forward losses.
So I just turned $87,600 into a nice little earner !!
Please feel free to post percentile basis return figures
Thats a great idea, then I buy it from you for $450,000, put down 20% approx $90,000.
Keep it for 8months and then sell it for $550,000 (don't want to too greedy).
Another tidy profit, what an absolute stroke of genius, transpotter, where do I sign up.LOL
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