Scamp wrote:

devo76 wrote:
I remember my grandparents house in Broken hill sold for $30,000 about 8 years back. It was probably the best in the street but they were the last to leave. You could get one in the street for under $20,000. If this happens again. I will consider buying and boarding it up for the next boom. There will be a next boom.…[Read more]

ummester wrote:

devo76 wrote:
What i want to know is what happens to prices when they hit bottom. Do we all really believe they will stay there. If things have improved economy wise and sentiment has changed then it is a fair call to suggets that they will trend upwards in value from that low. At what speed i dont know but here we are…[Read more]

I remember my grandparents house in Broken hill sold for $30,000 about 8 years back. It was probably the best in the street but they were the last to leave. You could get one in the street for under $20,000. If this happens again. I will consider buying and boarding it up for the next boom. There will be a next boom. Got to get in early but.

I think its unfair to jump down Steve's throught. Yeah sure many predicted this( As you seem so happy to keep reminding us). But exactly how many predictions have been thrown around over the last 12 months.Fuel prices,gold prices,interest rates.Many many people have been wrong. Sure some may be burnt by the recent mining slump but how many have…[Read more]

What i want to know is what happens to prices when they hit bottom. Do we all really believe they will stay there. If things have improved economy wise and sentiment has changed then it is a fair call to suggets that they will trend upwards in value from that low. At what speed i dont know but here we are comparing Aussie prices at the begining of…[Read more]

DONT rush out and sell your house like negative Nellie suggest above. Yes values are declining but if you where to sell your place to downsize and free up some cash. Remember the houses you would be buying will have dropped also. Plus there are many ways to use your equity without selling. Im sure some people with expieriance in building there o…[Read more]

I would say another 1 % drop over the next 6 months then stable for the remainder of the year. Maybe some upward movement in 2010. A 6% 10 year fixed rate will have me pushing foward the house hunt. 1 % to go.

My spin on it is to never sell until you reach the point in time where you want to live off your investments or subsidise your existing wage allowing you to reduce your work hours. At this point you have a few options.1# The rent on all properties pays for all shortfalls( Interest included) plus enough left over to live on. ( no need to sell any…[Read more]

It seems that what is happening now has put a hold on drawing down equity. BUT things will change and equity growth will return. We are in a bad few years i would think but it does not mean put the whole LOE draw down system in the trash.

Now is the time for low ball offers. Most would except the fact that prices will be lower in 6 to 12 months time so make offers that reflect that. Dont be afraid. I believe i paid too much for my first Ip. It will not happen again. To offer 20 to 30 % below asking price is not too bad. Its a good starting point. Some may laugh. Others may have you…[Read more]

Just bought a mint Ducati 916 strada. Love it. Also have a pulsar sss for the wife( Last one sold in Australia). I also have a zookie sierra that i bought 4 years ago for under $1,000 bucks. Love it, never one thing wrong with it and runs on a oily rag. Great for bush bashing,towing my tinny and generally carefree motoring. I also have a company…[Read more]

ummester wrote:
I was watching an american economist on the business channel the other night who said that modern capitalism was now fundamentally changed – for good. Easy credit is over and with it so too will be societies based on consumption.I'll check back in a few months, when this little crisis hasn't passed and see what you think t…[Read more]

I get your point i just dont believe it is about to end. If you had got into the 80's greed you would have land,gold, etc all the things that apparently will always be in demand. This will pass just as all before it has.If you are waiting for a change i feel you will have wasted your life.

There investment properties are probably pos geared now anyway. As for the ones you could have bought in  the 80's. I think they would be pos geared also.

ummester wrote:

devo76 wrote:
Debt???. Didnt say anything about that although without it you would struggle to build wealth. This has been proven many times over. Its just that its become a naughty word at the moment. This will change with time as it did in the past debt bubbles.

This one will be worse… even you bullish proptimists must…[Read more]

Neg gearing just helps the cash flow while you are trying to build your asset base. Sure its not as good as positive but positive is not always a option with preferable properties that you expect to see good capital gain. Capital gain is not happening now in most areas but you will see gains again and if the neg gearing helps you with the negative…[Read more]

Debt???. Didnt say anything about that although without it you would struggle to build wealth. This has been proven many times over. Its just that its become a naughty word at the moment. This will change with time as it did in the past debt bubbles.

hbbehrendorff wrote:
That's what I have been thinking,  Why does everyone one this forum seem to think that a 50% would be terrible ? For me it presents huge opportunity's Though I guess it will be bad for those people who are using equity and now have negative equity and those who have a bigger  mortgage then what there house is worth.Lucky f…[Read more]

A recession is great………….. If you keep your job.

hbbehrendorff wrote:
OK, lying is goodCan you please explain to me how going into grave debt is good for the economy and how it will fix everything ?America is in debt over 10 trillion and that does not seem to be solving all there problems….Maybe we just need to increase the debt to 100 trillion to fix our economy,  That would be cool,  T…[Read more]