bardon wrote:
Queensland Budget lifts stamp duty threshold for first homebuyers

How many first home buyers can buy a property at 400.000 at 9% interest rates ?It's just a way to get the last few jump in a crashing market in order for the problem-people to be able ot sell their house ( all be it at a loss or not ). I see this as a way to bail…[Read more]

kum yin lau wrote:
Scamp, 'average' house prices aren't 3-4% of annual income. I was earning $13000 p.a. and houses were $100000 + in the capital city. I bought one @ $166200, my 1st house. That's 13 times my income. But you're right. Got me into tremendous stress. Still kept it for 11 years & sold it for $310000.

Times have changed. Food isn't…[Read more]

if the domain is emex.com.au ( which I assume it is ) then you have no problems in keeping the domain. That name is used all over the place, it can't be registered as a global trademark. If you get the trademark in Australia, then you can sell that plus the domain name for 50.000 easily if they are a big company. Don't be fooled by legal action.…[Read more]

I have also predicted that banks will be limited ( by law ) in mortgaging people. I think the law will be amended to 4 times your raw yearly income. As soon as this is officially implemented, the houseprices will come under even more pressure. This, in my opinion, will be the major factor in dropping houseprices. More so even than the…[Read more]

I see that people want me to explain further why houseprices will drop, and what the signs are for recovery. First of all, and most importantly, never trust anyone but yourself. Yes, take advice, try and get as many views as possible, then analyze them yourself and figure out with your own intellect if they make sense to you. Many people will talk…[Read more]

Ozboy wrote:
This isn't a scam, this is how many people have made alot of money out of the Australian property market, particularly between 1995 & 2002

You still don't get it do you ? … This is the whole problem. Speculation is what pushed prices up to unrealistically high levels, unsustainably high levels. The high houseprices of today are…[Read more]

This list wasn't meant as a discussion. It was meant to list the things that can ( or have gone ) wrong while property investing. I must thank the first reply for doing that, he gave me an insight into a few things I hadn't thought about. Please refrain from posting replies that don't add things to the list of things going wrong.

michaelparis…[Read more]

Are you a farmer ? Then go for the rural landAre you a gambler who likes to lose a lot of money ? Then go for PenrithAre you a smart man who likes to save money ? Then do some research before you invest. Even doing some BASIC research like looking on http://www.news.com.au or turning your television on will tell you that investing in property now is…[Read more]

wow… that's the worst advice I have heard in years : Get more debt in order to finance your debts. btw : sorry to say, but your properties just lost 20% value. In other words, you lost 460.000$ in about 3 months. In another 3 months, when you lost another 460.000$, do you think this was a bad investment or will you get even more debt ? Do you…[Read more]

Ozboy wrote:
Obviously the plan would be to hope for price increase so that I can 'flip' the new property before settlement

Your plan is the same one as the following : Al Capone asks you to run some money for him to his business partner. Instead of going to the business partner , you decide to go to the roulette and put everything on 1 color.…[Read more]

The actual reason for me posting this post on this forum was to warn people about the possibility that houseprices could go down. The only way to have people read this post was to have a 'spruiker-like' title, exactly the same way the RE agents and property investors usually spruik. Ofcourse the market will crash, we all know it. What everyone…[Read more]

vicgirl wrote:
Now about the fixed rate mortgages, will they all mature at the same time in September? LOL…

Yep. The joys of people fixing their interest at the lowest possible rate for 5 years. They all fixed it in the low tide, for 5 years : 5 years ago.Not all in september ofcourse.. only about 900.000 in september. The rest up and until…[Read more]

APerry wrote:
"Australia doesn't have a shortage : it's got a massive oversupply."Absolute and utter garbage!

http://www.smh.com.au/news/national/sydneys-vacant-buildings/2008/05/25/1211653847174.html?page=3there you go. 120.000 empty houses in sydney alone. That's only the known ones.

LetsRent wrote:
Its hard to imagine investment housing demand dropping with rental demand so strong (and increasing) and the yields that are now available on investment property due to increasing rental returns.

Increasing rents are the worst kind of inflation. Do you think Rudd is allowing inflation to go up ?No ofcourse he won't. Be ready for…[Read more]

Dear Hayley, My personal opinion :At this moment the foreclosures are being bought up by the last few people with cash money. The price they are paying on auctions is way too high, the risks are too high too. Remember that when you buy a foreclosure ( at an auction ) you have to :- Pay cash- Sometimes will not have the possibility to inspect the…[Read more]

Quote:
If Braddick is right, the dark clouds gathering have numerous silver linings. So while many people are intimidated by the negative atmosphere into doing nothing, those with the foresight to be counter-cyclical investors will do well in a buyers' market.

Yes. But you need money ( CASH.. not some 10% loan ) to do this. And the average…[Read more]

300.000 * 9 % = 27.000 / 52 = 520 dollars per week to hold the property. Why do you think it costs 75$ a week ?Plus they have a debt of 200K, which costs them : 350$ per week. That would be 870 dollars per week ( 3480 dollars per month ) purely interest. That is , that's the least they will pay without actually paying any mortgage.They already…[Read more]

Tony, Just take 10 random houses for sale now, and offer 20% off the asking price. I guarantee you that you will get at least 1-2 accepted. And that's only 20%. Wait till the interest breaks loose, people going from 6% to 10%, that's 120 percent more to pay back over 30 years. Believe me, people who don't need to sell won't put their houses up…[Read more]

attrill wrote:
I have 2 loans fixed at 6.65% until 2009 when they will revert to the prevailing rate. In the last few years the rents have risen to a point where these properties will still be cash neutral. This is more a case of luck than astute financial planning.

Many are in your situation Attrill. Buyers know this, and are now waiting for…[Read more]

reeco : don't buy before january 2009. By that time, lots of mortgages have fallen, and we'll have seen some increase in foreclosures. Basically a good time to buy is when noone talks about real-estate anymore, when everyone's down and noone is interested in RE because almost everyone they know has been punished for lending too much : Then it's a…[Read more]