bardon wrote:
Back on the charts the one on page one of this report is more descriptive of the price history and I am expecting more of the same in the future.http://www.anz.com/documents/economics/Housing%20Snapshot%20April%202008.pdf

You realize that only 1% in the world actually knows what a Log Scale is right ?Log scales are a nice way to…[Read more]

bardon wrote:

Why doesn't the graph use the median ( 50th percentile ) of the houseprices instead of just 30 percent ?On top of that, 10% deposit ? You know anyone who does that ? And that's at 6% interest rates. Try making a new graph, based on REALITY : – 10% interest- median houseprice , not 30% of it- no deposit. Let's do the maths : Let's…[Read more]

bardon wrote:
Scamp have you seen the chart of Australain house prices over time and why do you think it will be different this time

Yes. Have you ? Here's the graph by the way ( in case someone looks for it ) Why it's going to be different ? Well… I have said it a million times already : The money tap is closed. There's no more money, people…[Read more]

I know, and I'm not god. It's no secret, just use your brains. It's there for everyone to see. Only the bulls close their eyes. Oh, the recent rental vacancies in Sydney here btw : ……………………2-May..30-May…6-Jun..13-Jun..20-Jun..27-Jun..Chg Week..Chg…[Read more]

Yarpos : Yes ofcourse. Where do you think the expression "USA sneezes and Australia catches a cold" comes from ?Just look at the events of what happened in USA. Then extrapolate to Australia. 18 months difference, everything else is the same. About the rental crisis : There is no rental crisis. People who say that are blind.Soon it will all become…[Read more]

http://www.dailymail.co.uk/news/article-1028492/A-flat-block-sold-238-000-2006-Now-8217-s-resold-auction-just-71-000.html#There you go. It was Leeds by the way, not too small a town.Don't be fooled, these are not 'unrealistically high asking prices' as we see in Australia, these are what people actually PAID for it, 1 or 2 years ago. In Australia,…[Read more]

CHIS : You realize that in UK the houses have falled by up to 70% in the recent few months don't you ?It's been in the news. And UK is a lot less problematic than Australia. I expect Australia to be much worse off than UK , the only difference is that Australia is lagging about 12-18 months behind.

CHIS : All sounds very good. But why would you buy now and go through the whole mess of sifting through 1000 properties just to find 1 to haggle the price down on, when in 1 year all 1000 properties will be going for haggle prices ? The whole meaning of this post is to tell people : Don't buy now, the housing market is crashing. Never buy in a…[Read more]

thinkruss wrote:
Hey Scamps did you see the news the other night? They reported a continued surge in property for at least 3 more years to come!!

A surge in property for sale I reckon. There's no way property will go up for 3 more years, they have already gone down 10% to 40%, and will continue to plummet. More and more for sale, very few…[Read more]

Property investing is REAL simple ( no idea why people make it harder than it is )Look for a property that will generate ( more rent ) than ( your interest payments in the house + 20% )If you have a neighborhood where a 3 bedroom will rent for 200 per week, you want to spend 160 per week on interest repayments. The other 40 you will use for…[Read more]

tam32 wrote:
I know of a few people now who are writing covered calls on the stock market and generating a cashflow of about 3% on their investment each month… it is a great strategy to add value to your portfolio and generate cashflow each month to assist with the rise in interest rates

Yes, a great strategy as long as the stock value goes…[Read more]

joseph scott wrote:
I have looked at 113 properties here in tasmania, not 1 meets the 11 second solution, props for $175,000 rent for between 120-170 per week, at 350,000, the avarage rent is around 320 per week.

It's what I have been telling you all along : Houses are overvalued. They are overpriced. You can look at 500 houses , and still not…[Read more]

hoping2doitright wrote:
Its not as simple as calling the bank unfortunately, how do i get to the right people

It really is that simple. Just call the local bank in the town ( or close to it ) where your house is, then ask them where the mortgage-guy of the bank is. Usually they are in the local office ( 1 or 2 guys specializing in mortgages )…[Read more]

Didn't get any mail, sorry. I use gmail, maybe it got spam-marked ?

700$ a fortnight is 18000$ per year of loss. Devaluation is about 2% per month now, so that's another 24% of 350.000 = 84.000$ loss per yearYou're losing about 102.000AUD$ per year keeping a 350.000 house.I'm sure in 2010 the house will go up again, but by that time you will have lost 204.000$.For it to go back to old prices, you'd need to keep it…[Read more]

Auction clearance rates are very low at the moment ( 15% – 30% max )But you get some exposure to the market too, which may lead to private offers after the auction.It could be worth it, IF you plan to sell for a 'reasonable price'

Thinkruss : Try and look at it from the other side. Don't start out with "I want a 4 bedroom home" but start out like this :Figure out how much money you realistically could spend on a house, with mortgage. I think if you're a starter, this could be anywhere between 120.000 and 240.000 AUD$.You can do a few things with this money : – Find a fixer…[Read more]

Hi, Don't talk to your friend , talk to the bank directly. Your friend ( at this point ) has nothing to say about the house since the bank owns more of it than he does. ( it's called SubPrime loan ( this is what started the whole crap in USA and is what will drive house prices down in Australia too ) ). Go to the bank. Tell them that they can get…[Read more]

You know about the new highway they are going to build in Ipswitch right ?More traffic jams and more noise if you're close to it. ( see Sydney West suburbs scenario )

atevans wrote:
Does anyone have any constructive comments they would like to make.  I'm a bit sick of reading Scamps 'doom and gloom' comments.The house was my PPOR…it was not purchased as an investment property.  It is currently tenanted while we decide what to do with it.

You said yourself "I currently have an IP in Yamanto". You also w…[Read more]