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26-07-2021, 12:58 PM | #1501 | ||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,930
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Well, each way albo has come out and said they will not go with their anti negative gearing policy at the upcoming election. Any rate rise will be absorbed through neg gearing for investors.
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26-07-2021, 04:56 PM | #1502 | ||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,930
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NAB tips Melb and Syd prices to keep going....
https://www.theage.com.au/politics/f...26-p58cyq.html I do wonder if we will end up following UK's scheme in the near future to help first home owners. I recall they had a scheme where first home owners can co-buy properties with the government. Basically gov owns a %, you own the rest. Not sure how that works when it comes to renovations or rent paid to gov. I think you also had to give gov first option to buy if you decide to sell at any stage.
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~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button. |
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26-07-2021, 09:06 PM | #1503 | |||
Banned
Join Date: Nov 2016
Location: Perth Australia
Posts: 3,618
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Quote:
It's seems genuinely wanting to help low income singles and families. Chilly Beers |
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26-07-2021, 10:42 PM | #1504 | ||
Bolt Nerd
Join Date: Jan 2005
Location: Ojochal, Costa Rica (Pura Vida!)
Posts: 14,873
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As someone who’s not up to date with how Australian realestate is travelling, I found this series interesting… (I believe it’s reasonably current?)
https://www.pedestrian.tv/entertainm...interview/amp/ Watched the whole series over the weekend and was amazed at the 10, 15, 30 million dollar properties changing hands! It’s like another planet…
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Current vehicles.. Yamaha Rhino UTV, SWB 4L TJ Jeep, and boring Lhd RAV4 Bionic BF F6... UPDATE: Replaced by Shiro White 370z 7A Roadster. SOLD Workhack: FG Silhouette XR50 Turbo ute (11.63@127.44mph) SOLD 2 wheels.. 2015 103ci HD Wideglide.. SOLD SOLD THE LOT, Voted with our feet and relocated to COSTA RICA for some Pura Vida! (Ex Blood Orange #023 FPV Pursuit owner : ) |
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27-07-2021, 08:31 AM | #1505 | |||
Banned
Join Date: Nov 2016
Location: Perth Australia
Posts: 3,618
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Quote:
Cheers Willy |
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27-07-2021, 09:55 AM | #1506 | |||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,930
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Quote:
I'm guessing at those price range, its no longer an "investment" or "I really like this to be my house". Guessing it would be more like a ****ing contest "I have this but you don't".
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27-07-2021, 10:56 AM | #1507 | ||
FF.Com.Au Hardcore
Join Date: Jun 2010
Posts: 589
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If the guvvy is printing money to hand out to muppets waving fistfuls of cash at auctions to drive an insane market (Hobart’s projected rise is 23 % this year), then why do I bother paying truckloads of tax ?
Can’t the guvvy print money to hand out to me to pay the guvvy ? Seems like an idea that’s just as sensible. |
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27-07-2021, 11:21 AM | #1508 | |||
Bolt Nerd
Join Date: Jan 2005
Location: Ojochal, Costa Rica (Pura Vida!)
Posts: 14,873
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Quote:
And, yep… massive egos, massive mines bigger than yours… (and that’s just the Lambo drivin agents!)
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Current vehicles.. Yamaha Rhino UTV, SWB 4L TJ Jeep, and boring Lhd RAV4 Bionic BF F6... UPDATE: Replaced by Shiro White 370z 7A Roadster. SOLD Workhack: FG Silhouette XR50 Turbo ute (11.63@127.44mph) SOLD 2 wheels.. 2015 103ci HD Wideglide.. SOLD SOLD THE LOT, Voted with our feet and relocated to COSTA RICA for some Pura Vida! (Ex Blood Orange #023 FPV Pursuit owner : ) |
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27-07-2021, 11:32 AM | #1509 | ||
FF.Com.Au Hardcore
Join Date: Jan 2019
Posts: 575
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After losing the unlosable election last time, Labor is so poo-scared heading to the next election that they are jettisoning any policy that has the remotest possibility of providing a scare campaign for the Liberals.
In the 1950s the Libs were concerned about social cohesion and promoted home ownership; it probably had something to do with the 'communist threat'. Someone who managed to buy their own home - to live in - was more likely to feel that he/she had a stake in society and less likely to be attracted to 'dangerous' ideologies. It's a different story today. The Howard/Costello 50% cut to capital gains did nothing to make housing more affordable (to say nothing about the foregone revenue). Negative gearing continues on the so-called 'investment' in a second, fifth, tenth, twentieth or whatever home. Frydenberg claims that rising house prices are good for the economy. People aren't investing in extra homes; they are speculating. If a speculator beats a would-be home owner at an auction on an existing house, he/she isn't providing a roof over someone's head. The roof was already there and the wanna-be home owner might have been living there if it wasn't for the tax breaks provided to the speculator. It's dog-eat-dog. |
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27-07-2021, 08:40 PM | #1510 | ||
DJT 45 and 47 PUSA
Join Date: Sep 2013
Posts: 7,272
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All bubbles end and when this one does it will be a doozey!
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Falcon: 1960 - 2016 My cars Current ride 2016 FG X XR6 - 6 speed manual Previous rides 2009 FG XR6 - 6 speed auto 2006 BF MkII XT ESP - 6 speed auto 2003 BA XT V8 - 5 speed manual 1999 AU Forte - 5 speed manual 1997 EL Fairmont - 4 speed auto 1990 EAII Fairmont Ghia - 4 speed auto |
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28-07-2021, 06:18 AM | #1511 | ||
The 'Stihl' Man
Join Date: Jan 2005
Location: TAS
Posts: 27,586
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So what are the signs? As I feel its been 10 years in the waiting at least...
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28-07-2021, 06:27 AM | #1512 | ||
FF.Com.Au Hardcore
Join Date: Jan 2019
Posts: 575
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On the radio this morning: house prices in Ararat (Vic) have gone up by 26% in the last year.
In the 1980s house prices in Melbourne went up-up-up until 1990-91. I have a vague memory from 1990-91 of seeing one house selling for less than it got a year or two before. I don't remember that prices crashed but they did stagnate until about 1996-97 when they started to go up again. If interest rates ever start to increase, how much of a rise will be needed to burst the current bubble? Would there be a crash or just prices stagnating? Last edited by xkxlxm; 28-07-2021 at 06:53 AM. |
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28-07-2021, 08:12 AM | #1513 | ||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,930
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Irrational exuberance. We are not quite there yet.
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28-07-2021, 08:33 AM | #1514 | |||
Banned
Join Date: Nov 2016
Location: Perth Australia
Posts: 3,618
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Quote:
Cheers Willy |
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28-07-2021, 08:34 AM | #1515 | |||
T3/Sprint8
Join Date: Jan 2005
Location: Australia
Posts: 16,578
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Quote:
I recall when the GFC back in late 07 it was all doom and gloom coming..... I've been waiting since then - and the comments wait its coming
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Tickfords T3/TS50 '02 Sprint8 manual Sept 24 '16 Daily Macan GTS "Don't believe everything you read on the internet. Abraham Lincoln" |
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28-07-2021, 09:41 AM | #1516 | |||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,930
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Quote:
Just thinking out loud, a crash or correction will most likely be accompanied with an interest rate rise and possibly tightening of lending from the banks? So those waiting in the wings will probably still not find it easy to enter the market. We need more affordable housing, and people need to be less choosey. I remember, about 5 years ago, there were plenty of little gems 15-20kms outside of the city in the "less desirable" areas, for under $500k. These were decent properties with decent land. People avoided them, I'm guessing, because of the names of the suburbs. Today, I punch in the same attributes into realestate.com.au and I get ZERO hits....nothing. Even increasing the $ or distance search there are very little hits.
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28-07-2021, 09:51 AM | #1517 | ||
Banned
Join Date: Nov 2016
Location: Perth Australia
Posts: 3,618
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I distinctly remember watching my $80,000.00 of various shares I purchased between January 2008 and June 2008 increase in value, by September 2008 they decreased by 30%....
2007 seems a year early, maybe in America but I know what I lost, and as we come into 2009 it was a 45% loss on my outlay....silly Billy I was getting 7% in the bank on long term 2 year investment, I broke it early and got 1.8% interest...but 2008 not 2007? Cheers Willy |
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28-07-2021, 10:12 AM | #1518 | |||
The 'Stihl' Man
Join Date: Jan 2005
Location: TAS
Posts: 27,586
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Quote:
Australia needs to upgrade the satellite cities/towns with better transport and services to get people out. I would have no need or want to be near a CBD if more companies moved out.
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28-07-2021, 10:51 AM | #1519 | |||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,930
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Quote:
__________________
~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button. |
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28-07-2021, 12:10 PM | #1520 | ||
T3/Sprint8
Join Date: Jan 2005
Location: Australia
Posts: 16,578
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Not sure what people expect to come in the future.....
Its not going to get easier, just harder and harder for there is always someone who's willing to pay more and have more re bidding for a house/flat whatever. A re set may occur but thats no gaurantee those on the cusp/first home buyer get their prize. As mentioned, depending where you grew up, in a average Burb probably is out of the question today ie Sydney/Melb cbd for those inclined. Yes people need to be willing to re locate IF they want their gold ticket, house as it once was. Otherwise its apartment living at housing price in the cbd in alot of case's. Sad but it is what it is, times move on. T3, lending has become harder since covid commenced you may know ? The royal commision on the Banking/Super/Financial Services sorted that out. Having a bit of property re our business we re financed one of our warehouse's. In a sound position financially, the new hoops upon hoops going through that was very time consuming and frustrating and as mentioned we're not a high risk period. Took months and months.
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Tickfords T3/TS50 '02 Sprint8 manual Sept 24 '16 Daily Macan GTS "Don't believe everything you read on the internet. Abraham Lincoln" |
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28-07-2021, 12:25 PM | #1521 | |||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,930
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Quote:
The bank did go through my statements with a fine tooth comb, trying to pick up pay day loans and short term lenders like Zip and Afterpay, and any excessive cash outs. They are also on the look out for frequent deposits to betting accounts, and cash outs at venues linked to pokies. Which could be a problem if you have a big night out at a pub near by. I did hear Frydo wanted to lighten the "responsible lending" rules, but I don't think it got up.
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28-07-2021, 01:26 PM | #1522 | ||
T3/Sprint8
Join Date: Jan 2005
Location: Australia
Posts: 16,578
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same here re broker/and accountancy.
Have them close have used the guys for years we both know each other very well (any decent broker should have good close contacts with the institutions they go through), granted it was during hectic covid issues last year, maybe the timing but it is far more stingent now our broker kept saying. Maybe your figure wasn't that large, your business. Not diff for business's alone, I had my eldest son/daughter inlaw deal with them for they are "I'm waiting to buy" % right now, well since last year. Scared, to jump in or wait, the correction is coming lol...... Broker has gone through similar with them, especially being 1st home buyers, they also wonder what the Gov is finally gonna do re support and the changes considered but yet nothing. So I'm close to either spectrum atm, its exciting tbh. My wife and I are considering to sell as well since early this year, will we won't we.
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Tickfords T3/TS50 '02 Sprint8 manual Sept 24 '16 Daily Macan GTS "Don't believe everything you read on the internet. Abraham Lincoln" |
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28-07-2021, 07:20 PM | #1523 | ||
FF.Com.Au Hardcore
Join Date: Jan 2019
Posts: 575
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In 2007 the share market peaked in November, I think. It had been going up and up for several years before that. So it dropped a bit in late 2007 but then really dropped in March/April 2008 (I think) and then probably more that year and also in 2009 (?).
[I just remember those details; I actually know SFA about shares and the share market.] |
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28-07-2021, 08:28 PM | #1524 | |||
Guest
Join Date: Aug 2018
Posts: 1,892
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Quote:
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29-07-2021, 04:56 PM | #1526 | ||
Regular Member
Join Date: May 2010
Posts: 325
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^ I hate that too CB. Time to post Thiru and Suzies’s phone number on social media. Maybe on a Pornhub Bollywood Celebrity Sex recording, with potential for a billion views every 24 hours.
They could be dobbed in, attending the next Anti-vax protest....Sounds like a plan! |
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29-07-2021, 07:07 PM | #1527 | ||
Critical Thinker
Join Date: Jan 2005
Location: Adelaide
Posts: 20,378
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wow, people are getting desperate to get in before stupid offers over reserve are put on the table.
While I don't blame them, I wouldn't be doing any deal without an agent or someone you can trust who can arrange and mediate the legal side of things.
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"the greatest trick the devil pulled, is convincing the world he doesn't exist" 2022 Mazda CX5 GTSP Turbo 2018 Hyundai Santa Fe Highlander 1967 XR FALCON 500 Cars previously owned: 2021 Subaru Outback Sport 2018 Subaru XV-S 2012 Subaru Forester X 2007 Subaru Liberty GT 2001 AU2 75th Anniversary Futura 2001 Subaru GX wagon 1991 EB XR8 1977 XC Fairmont 1990 EA S Pak 1984 XE S Pak 1982 ZJ Fairlane 1983 XE Fairmont 1989 EA Falcon 1984 Datsun Bluebird Wagon 1975 Honda Civic |
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29-07-2021, 07:30 PM | #1528 | ||
DIY Tragic
Join Date: Apr 2018
Location: Sydney, more than not. I hate it.
Posts: 22,502
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Not selling anyway. Asking $12M and no less; nobody will pay that right now, so it’s all good. I’d want to effectively swap a quarter acre of suburbia for a small acreage near Bowral plus a cottage near Berry, and have a slush fund for helicopter charter - hence the figure.
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29-07-2021, 09:38 PM | #1529 | |||
FF.Com.Au Hardcore
Join Date: Oct 2014
Location: Newcastle
Posts: 1,791
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Quote:
They low ball- 95% odd reject but all they need is that 5% to suck in the bait ball and they reap a tidy windfall.......
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Ford Rides: Ford Fiesta ST Mk 8 -daily- closest thing to a go kart on road for under 50K FG X XR8 smoke manual - Miami hand built masterpiece by David Winter, BMC Filter, JLT Oil separators, Street Fighter Intercooler Stage 2, crushed ball, running 15% E85 and 85% 98- weekender |
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29-07-2021, 10:03 PM | #1530 | ||
Banned
Join Date: Jan 2009
Posts: 1,621
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i got a letter from a housing developer the other day, showing interest to by my acreage and my neighbors' too. in s,w, sydney. but not interested at this time. once the badgerys creek airport is done it will affect prices imo. camden and wollindilly had been dormant for many years, but the last 3,4 years has seen large developments popping up, its insane how fast it all happens.
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