Enjoyed reading your thoughts on property Retire 2012 and the responding comments. A lot of common sense shown by all. What happens in the near future to property values is beyond me as everyone seems to have an agenda.
hi all
boy, crashy i think we’ve done this one before [
]
i’m going to let this one go but pick up on Reggies comment
“Ed Burton talks about investing in overseas funds via Vanuatu, but I am not so sure, you are not as much in control.”
i really struggle with this off shore approach. the only reason people would do it is to avoid tax. we live in a great country and we shouldn’t rip each other off by this form of tax avoidance. i dislike it when big companies do it. if we do it we are just the same.
No, it is just WRONG.
if you want to save money take up shop lifting or other forms of stealing. no? you wouldn’t do this, but are happy to avoid tax. sure as Packer said “don’t pay more than you legally can” but to do it illegally ?
if Ed Burton encourages this approach shame on him.
regards westanWestan,
If our taxes were reasonable, and/or wisely spent, I would agree with you.
But I think as neither of the above are true, that in fact the truth is the reverse; our governments are stealing from us to fund various forms of electoral bribery.
The less they can steal from me the better. But agree it should be done legally.
Is using offshore stuctures illegal? I am not sure.
Lets not forget that when the funds are repatriated to Australia it then becomes taxable, (I believe[?])
Cheers wayne
Wayne,
I have to agree with you… we (Channel 9) ran a story on the news tonight about kids with cancer being turned away from the Royal Children’s Hospital when they should be receiving adequate, compassionate treatment. State Govt blames Feds for the problem, Feds blame the State… in the same week that Costello announces a massive multi-billion dollar surplus… something ain’t right there… let’s get our priorities right and I’m sure that people won’t have problems paying fair taxes as long as they’re spent correctly.
Cheers
rYeah saw that Richmond, disgusting isn’t it.
I would happily pay currents levels of tax if it was spent on stuff like that, plus education etc.
Cheers
When I first bought in ’73 the interest rate was about 7.5%. Within a couple of years it was over 12%. Prices did not go down at all. People don’t give up their home that easily, banks were extending loan periods instead of upping repayments and, because higher interest is usually accompanied by inflation, equity was increasing.
Demand is higher now for some fundamental reasons such as the easier getting of loans since banking de-regulation, improved information sources, (you can see and buy on-line anywhere now,) and it has dawned on many an Australian that real estate is safer than Telstra shares.
This phenomenon of higher prices is throughout the developed world, not just in OZ. Look for reasons of greater depth than just a local economic cycle. BUT, beware the retiring baby boomer.
BUT, beware the retiring baby boomer.I have a lengthy report on demographical influenses on real estate prices. It covers this subject in detail.
The conclusion it reaches is that by about 2012-2015 there will be a chronic oversupply of housing.[
][][]Hi Wayne
Don’t you believe it mate.
By the way the Chinese economy is going and not bowing down to the Americans there will be so many rich Chinese wanting to relocate in 10 years time there won’t be enough land to relocate onto let being a housing shortage.And what about India. If they can afford to develop nuclear weapons there must be some people there with a lot of money who will want to get out of the place.
If it gets too hot for all those NZers in Australia eg a few twin towers type of heat, they may think it might be better back in Godzone then there might be a surplus of housing.
If this happens there will also be a housing shortage in NZ.The baby boomer will be replaced by increased migration of young people.
Regards
Good point Muppet,
We will never know the future….till it arrives[
]To many unknown factors[?]
Wayne
Sorry for the late reply Wolve. Been giving it a miss lately.
Yes I have been to one of Peter F’s 3 day course and have to say it was well worth it. He has a very sensible approach to investing and untilises many different strategies to ensure diversity is maintained. We paid a few 5k for both myself and my partner to go and I believe it was worth because at the very worst, the education he imparted will at least prevent us from making costly errors when doing only basic property deals. At best, we apply what he taught and do very well. No tricks, no gimicks.
His seminar was about educating which was quite relief! When you fork out the $$$ you’re always hopeful that you not going to be taken. This was definitely not the case. $$$$ well spent I believe.
Cheers
Steve
Steve,Yep Peter Flanagan was his name.
Have you been to any good seminars that you would recommend?
Wolve
Correction – not ‘a few 5k”, rather 5k for both of us. resonable we thought at the time. afterwards we thought money well spent.
Sorry for the late reply Wolve. Been giving it a miss lately.Yes I have been to one of Peter F’s 3 day course and have to say it was well worth it. He has a very sensible approach to investing and untilises many different strategies to ensure diversity is maintained. We paid a few 5k for both myself and my partner to go and I believe it was worth because at the very worst, the education he imparted will at least prevent us from making costly errors when doing only basic property deals. At best, we apply what he taught and do very well. No tricks, no gimicks.
His seminar was about educating which was quite relief! When you fork out the $$$ you’re always hopeful that you not going to be taken. This was definitely not the case. $$$$ well spent I believe.
Cheers
Steve
Steve,Yep Peter Flanagan was his name.
Have you been to any good seminars that you would recommend?
Wolve
Make your lists of what you want to buy. Set your prices. Make sure that they are xx % lower than today and then unleash the wall
CASH WILL BE KING!
Call me whatever names you want to but I know that
CASH (or even gold) WILL BE KING
Reduce debt NOW!
I think blanket statements such as the Melbourne or Sydney property markets are going to plummet 30% are so nonsensical that they belong in the newspapers. The statement implies that all properties in those cities will fall by 30%.
Probably the top quartile price of properties will fall by 30%+. The bottom quartile will probably plateau or gain slightly to tighten up the pricing differential that exists in these cities. Even when interest rates were 17%, people still bought houses – they just bought the ones they could afford the repayments on. So now people are buying $300k houses at 6.5% if interest rates go to 13% they’ll buy $150k houses. The demand is now for these houses rather than the $300k houses.
]
][
]
You must be logged in to reply to this topic. If you don't have an account, you can register here.
