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It is illegal...

Of course there is a huge grey area. Which would make it very difficult to prosecute. I think on the scale of things, Nigerian scams and real estate agents with optimistic price hopes are worlds apart.
Of course they are. However, it also goes to credibility.

If you want to sell your house and a RE agent comes in and oohs and ahs over your so gorgeous property, says stuff like "I wish I could get more of this quality and exceptional taste to sell" etc., then regales you with what may or may not be true stories about the prices he obtained on other inferior properties in your neighbourhood, and then assures you a price at least 20% over what you'd expected is obtainable, chances are many people will believe him. Especially if they've failed to do their own research on sale prices, not asking prices.

If, on the other hand, you suddenly find in your email inbox an offer from someone in Nigeria or any other far off country whom you have never heard of, telling you that you have inherited ten million dollars from someone else you have never heard of, and all you have to do to have this windfall paid into your bank account is immediately send $5000 (or whatever amount), along with your bank account details and your date of birth, driver's licence, etc to validate your identity, to the following address, to cover 'transfer fees' , is that really credible? Surely not. Yet apparently people still do it, despite all the publicity and all the warnings.

Yet, there seems to be a strong feeling in this discussion that the person responding to the Nigerian scam bears no responsibility for being fleeced. Beats me.

Here's an example I had myself recently. I'd bought the block of land and given go ahead for final plans on house for a new house. The decision was made on a comparison of cost estimate and standard inclusions on similar plan given to seven builders. The builder chosen included several items in his Standard Inclusions that the others didn't. The specifications and contract were supposed to be made available at least a week before the 30 April, that being when the $10,000 Qld Building Boost ended. They didn't arrive until late on the day before and included more than fifty pages. Accompanying email said ' All as discussed. Please initial each page of the specifications and sign final page'. There was a temptation to assume all was OK and just sign.

I didn't, and ploughed through it all, to find that many of the items included in the original Standard Inclusions had been left out of the final specifications, with no downward adjustment of price.

So was this an illegal act by the builder? Could he have been considered guilty of fraud?
 
Do you post on Somersoft or Property Investing.com forums at all SCM?

No, if I did I think they would try to exorcise me or something. What can one learn from a bunch of idiot speculators anyway.

Nothing a few more million migrants and a lack of building won't fix.

Australia has the most expensive property in the world after HK, immigrants - especially for the wages they pull have no chance. Who would want to lend them money anyway?

Immigration has significantly slowed since the GFC as well, and I bet it will slow further as our economy goes further into recession and jobs dry up completely.
 
Is that why I'm renting dog boxes out for top dollar because there are no other places around.

You are the Uber slumlord though - Mr Big of the Dog Box industry -

The other specuculators arnt doing as well
 

Why are you so emotionally invested in property anyway?
 
Give him a break - hes clearly interested in economics period , just because he doesnt have the same vested interest you guys have because you are owners , some of you leveraged owners you feel the need to play the player instead of the ball.

Hes in this thread commenting on what is clearly nearly if not the most expensive property market on the planet.

And everytime you guys get cornered or short of an argument you start on the personal comments.

Gets a bit old really.
 
Traditional sense? The government spent taxpayer money which ended up in the banks' coffers. Whether it's traditional or not is irrelevant.

Well if that is your definition of a bailout then the government has bailed out every taxpayer in Australia every year since the foundation of the state.
I suppose it also bailouts students who apply for a HECS, or pensioners or collect their old age pension, bails out the mining industry and so on...
Man, really work on your logic. I don't agree with government intervention in the property market but you cannot call it a bailout.
Down the rabbit hole we go! Dont go all crazy SCM on me again, you will make a fool of yourself.
 
sydneyish


As we established you must be the Dog Box master beating market performance ....



http://m.smh.com.au/domain/real-estate-news/sydney-rental-fall-takes-the-heat-off-tenants-20120413-1wx6e.html

 

The scenario you described is an invitation to treat. The offer wasn't made until you were presented with the contract. There are of course plenty of consumer laws around misleading invitation to treat (bait and switch advertising and they may or may not apply to builders, I suspect they don't given the complexity of and individuality of the average building contract) but at the point of comparing prices no contract exists and he can withdraw his invitation or alter it at any time his formal offer was the contract he sent you. It's probably not good for business but it isn't illegal.
 
Why are you so emotionally invested in property anyway?

I'm not invested in property. Never have been, never will be.

Well if that is your definition of a bailout then the government has bailed out every taxpayer in Australia every year since the foundation of the state.

Yeh, and I'm against it.

I suppose it also bailouts students who apply for a HECS

I fail to see how, HECS debt has to be paid back with interest.

or pensioners or collect their old age pension, bails out the mining industry and so on...

Absolutely - should cut those leeches off.

Down the rabbit hole we go! Dont go all crazy SCM on me again, you will make a fool of yourself.

There's nothing crazy here - the FHOB was designed as a bailout of the Australian banking sector. I challenge you to explain it otherwise.
 
Got to love this ....

HOUSE prices have slid to a six-year low in capital cities despite RBA efforts to lift the housing market out of the doldrums with rate cuts.

Read more: http://www.news.com.au/money/proper...ow/story-e6frfmd0-1226379751250#ixzz1x71aacl1

Since when was the RBA mandate to drop interest rates in an effort to lift the Housing market ?

Should be jacking interest rates through the roof to protect our savings from the soaring prices!

But warming to see that evening plummeting IRs havnt even touched falling prices -
 

Thanks for the giggle!

LOOK AT THE CREDIT GROWTH SHRINKING!

Do the math... you don't have to be Eisenstein, or even have to be able to spell. :asdf:

 

I challenge you to have some logic and get a dictionary.
 
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