i dont offer advice, there is a good chance im younger than you and even better chance I earn less (and im not being cheeky and talking net). been buying since sydney stagnated in 2005 if i remember right we were right on the cusp on another great australian property crash. would hate to have to repurchase my places today. your gonna say the same about the place you sold too everybody does.
So if we understand your net speak correctly you have purchased a bunch of Sydney properties post 05' on a modest wage -
Which boom suburbs did you buy in ? Is Sydney the only market you have property ?
Bloody Hell!
We've come from property prices to arguments of existentialism.
Who'da thunk it? The real world is NW WA.
Well news flash, outside your "perceived" real world they is a load going on. So much so the govt want to tax the crap out of WA state revenues to prop up your failing economies. Yes yes....blah blah the East propped up WA for a long time so now it's payback time....yawn!
.....
Look out your window into your own backyard...there lies the problem. It certainly isn't a problem in WA.
Get real waneL.
I never stated any such thing. People here are talking like the world is ending as there is no work in the East and it's off to Domino's part time for crying out loud. As if the ONLY world revolves around Sydney and Melbourne drinking cappucino's and looking at their own reflection out of the tinted office window.
Well news flash, outside your "perceived" real world they is a load going on. So much so the govt want to tax the crap out of WA state revenues to prop up your failing economies. Yes yes....blah blah the East propped up WA for a long time so now it's payback time....yawn!
However I don't really give a rats gnats anymore I have made a life elsewhere. Now I make a far better living doing Aus and international projects from afar.
The other poster is partially correct iron ore is the bulk of the mining activity and a damn lot of it, mind boggling actually. However there are many ASX juniors over here and in the Phillipines going ahead in a big way in gold, copper and also tungsten in Korea, these revenues will find there way to Aus. The list is long for anyone that cared to look.
Also oil and gas, the latter in particular is massive.
But mr earnsalot from melb wouldn't see that from his comfy chair would he....Except what he reads in the press, and they don't lie do they??????
Like the SMH writer that is in deep crap for what he wrote about EWC operating here in Indonesia. I hope they take both him and the paper to the cleaners for the rubbish they published and then the shareholders affected take them both even better.
Media hype is all you get to see over there, that is your "real world".
So according to the east gurus's the world is ending and property is finished and the resources industry is in a bubble....oh dear what a pile of uninformed cods!
Look out your window into your own backyard...there lies the problem. It certainly isn't a problem in WA.
I net nearly 3k a week here in regional NZ
Stop right there.
That ain't the 'norm' for starters in NZ...
Get real waneL.
So according to the east gurus's the world is ending and property is finished and the resources industry is in a bubble....oh dear what a pile of uninformed cods!
Stop right there.
That ain't the 'norm' for starters in NZ...
No, not yet, but WA's 2 biggest markets are slowing dramatically ie Japan & China. So there is a large lag between the market turning down & the canceling of projects. The bubble is bursting, you just have to wait for it to flow through to 'the real world'
You do know there are gluts of several commodities already ie steel & aluminium?
WA will have the biggest property market 'correction' of them all......just have to be patient.
BHP, whose biggest customer is also China, is re-evaluating spending plans amid slowing Chinese growth, the Australian Financial Review reported today, citing Chairman Jacques Nasser’s comments to investors. China accounted for 28 percent of BHP’s sales in the last financial year and 31 percent of Rio’s.
Reuters reported that Norway based aluminium producer Norsk Hydro reined in its expectations for market growth this year due to weak demand from Europe as it posted a bigger than expected drop in quarterly profit due to a glut in supply that is hitting prices.
Brazilian steelmakers are fighting a global supply glut at a time when growth in Latin America’s biggest economy slows down.
MINING giant Rio Tinto has flagged cutting some of its multi-billion dollar Australian expansion projects as costs soar.
Rio chief Tom Albanese says he is challenging managers to justify why their projects should not be dumped.
He told the group's annual meeting yesterday soaring wage and raw-materials costs, a high Australian dollar and the new mining and carbon taxes were making the nation less attractive to invest in.
He did not name projects but said Rio was committed to its $A9.99 billion Pilbara iron ore expansion - suggesting new Queensland and NSW coal mines would be in the gun.
The planned $2 billion Mt Pleasant coal project in NSW is believed to be under threat.
i dont offer advice, there is a good chance im younger than you and even better chance I earn less (and im not being cheeky and talking net). been buying since sydney stagnated in 2005 if i remember right we were right on the cusp on another great australian property crash. would hate to have to repurchase my places today. your gonna say the same about the place you sold too everybody does.
i have never been bearish on property until the past 9 months. i put everything i had into my first property, thank god i woke up to myself and got the hell outta there. i wont be saying that, and no one else will either.
and your not younger than me, as while you were buying all these fabulous properties on your mediocre wage in 2005, i was attending woodwork at highschool.
but anyway, prices are set to sky rocket, so best you get out and leverage yourself up some more! you don't wanna look back in 5 years wishing you had of bought today. all the best.
will you be buying a dominoes then?
if one thing in life is certain, it's that you never wind up where you thought, so i guess there is every chance i just might.
why do you call yourself young-gun?
why do you call yourself young-gun?
haha, are you insinuating that buying a dominos is not a decision of a smart man? plenty of guys out there that are rich off dominos champ. just go buy a house sparticus. please keep us all updated as to its progress, i will listen with thorough enjoyment.
Funny Sparticus the Irony of your name isnt lost on me as you encourage people onto the Australian RE rollercoaster which would typically be via debt " slavery " ......
My only comment is that as a tradey, the package you mentioned wouldn't draw me away from where I am. I net nearly 3k a week here in regional NZ, most of my clients are attractive ladies who give me coffee and cake as I work and I get to go home every night to my attractive lady.
I actually thought there was more on offer than that.
Stop right there.
That ain't the 'norm' for starters in NZ...
Ah but we all know Wayne's not normal...he's special.
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