Yes, we in the media, particularly those of us who have an input into the nightly news, have an agenda to control the economy, and society as a whole. We are soldiers in the army of Kerry and Rupert, and we do want your brains. mmmmm brains….
from richmond, a happy little media member, with very naughty aims of controlling your every thought.
[}
][}][}][}][}][}]Hi All
Sis you are still talking about CG, as I said before isn’t it +ve cashflow we want and not CG. Unless your investing in property to reduce your tax bill and still want to work ???
Kreman
umm… kreman… I think you’ll find we all want different things- we kind of still own our own brains until richmond eats them.
for those who got great CG in the past few years- 100k, 200k, 300k etc… well, takes a lot of cashflow houses to make up that kind of money. That extra 5 bucks a week- well, it’s a beautiful thing- but CG means a big wad of cash in your pocket. $260.00 in your pocket a year, or 100k in your pocket because you made a big CG- it’s a tough choice.
Oops, godda go- richmond is chasing me around trying to poke a fork into my head [8]
kay henry
Hi Kreman,
The coverage by TT last night, was about if the property market was set to crash, nothing really mentioning or detail a huge crash, more on an emphasis, that its going to be a buyers market. (that i dont really see).
Sis you are still talking about CG, as I said before isn’t it +ve cashflow we want and not CG.
This is true, that investors want +ve cashflow properties, but you will find +ve cashflow properties are much harder to attain now, due to an interest rate rise late last year and that we are now trying to service +ve cashflow properties at 7%.
Unless your investing in property to reduce your tax bill and still want to work ???
I dont really try to invest to reduce my tax bill, really i find a way to offset it and any excess, have it rolled over to next year,
Work ? [
]… now thats a nasty word… actually i rather work more, than go to school…. now thats another nasty word… []Cheers,
sisThanks for clearing that up for me sis as I said I’m new to this and I’m still reading Steve’s book so I got a long way to go.[
]Kreman
For the record I believe there are many investors out there who never listen to media and probably do much better than those that do, it`s the herds that follow the media.
Have they ever been right?. Rarely.
Same goes with property magazines they are so far behind it`s a joke.
I do read them but rarely pay any attention to them whatsoever.
Study the market yourself and make your own decisions.?? I find it extraordinary that people don’t read newspapers! how else do you get your info, Mark? Reading through journals in a library?
I am afraid i am one of the herd that reads property magazines, goes to a million websites (that’s media too, right?) and spends half my life researching real estate.
It’s a funny perspective to say that people who read newspapers and watch the news are ignorant herds! Many would call it “due diligence”.
war is peace
research is ignoranceuhuh…
kay henry
Kay, I didn`t mean to imply ignorant, that`s a word too easily thrown around!.
Magazines are good for different articles and ideas but I don`t believe they generally give you a true guide of property values, I think they are dangerous for inexperienced investors.
I suppose my info mainly comes from my house painting business and generally getting to know areas, what`s good what`s not etc, also I read a lot of books, and not only R/E investment.
Before the boom I spoke to many landlords over the years who had bailed out of property rentals simply for reasons of bad tenants too much work etc etc.
I believe when the market busts or stabilises most of the gurus will disappear and many investors will get out or move on.
I have invested in property a number of times over the years and always made money sometimes very good money, and it seemed to me from watching TV and reading magazines etc what had worked for me in the past was clearly not in line with what I was reading/watching.
I read a book titled Ordinary People Extraordinary Wealth and it summed up by saying the majority of the successful people in the book had not gone to seminars or read the daily newspapers, and were unaffected by the herd mentality they just stuck to tried and true gut feelings and what worked for them.
I`ve seen people lose everything after making a ton of money in a booming market, it is easier than people think.
I think it is good to make sure you win no matter what the market does, be prepared and don`t take risks, follow a concrete plan, very few people get rich overnight!, and don`t ever follow the herds, by then, your too late!, following the herds imo clouds your thinking and could ultimately land you in trouble.How much influence do you think the media has in this situation?
Before Christmas many of the papers were predicting a property crash or at least a slow down – people panic & viola, there is a crash.
If the news reports predicted a continuation of the property boom – would it continue?
Sometimes I think it is a self-fulfilling prophecy [?]
Shushar
“All our dreams can come true, if we have the courage to pursue them.” – Walt Disney
no offence kay henry, but you seem to take posts very personally. i didn’t see someone call people who read papers ignorant. all that’s being said is, never to follow what is said on tv shows and headlines papers 100%. you need to do your own due diligence and research. same with reading books, or ppls posts. the only thing is the %age of ppl who watch tv and read papers is a lot greater than those that visit property forums and read property related books, therefore, there are more ppl who are susceptible to what can sometimes (not always) be hype, or an excuse for a story. those that don’t follow the market but have come into some money, be it super, or inheritance, or lotto, my just go on a decision related to something they saw on TV.
i think those that visit this forum have the knowledge to do their own research and whether you watch tv or read papers or live like a hermit, will make their own decision.I love stories like that …. I have sent out over 2000 flyers to see what response I get from the local community … I will use the bad news to paint a picture that may get me into some interesting opportunities… nothing like a fast sale to beat the crash!
Besides … the press have one job to do …. and that is not to give the news in its true form…. but to get the best angle to sell the most papers and get the most coverage….guess why???? so that people watch & read the adds between riviting stories and blow thier ever evaporating cash on trinkets and beads…. while we all know better Right?
Cheers
[:o)]Kiwi[:o)]Hi Guys,
I like to read as much about real estate as I can also.
The key point when reading any article, on any subject, is to check the author before you start.
Once I know who the author is, then I read the article with the full knowledge of the “angle” the author is coming from.
Also, as I am reading I try to sort the facts from the opinions. I find this helps me to get a more objective view.
Cheers,
Sue []“Be careful not to step on the flowers when you’re reaching for the stars”
Well, Aussies come from a more critical perspective than, for example, americans might. Hence the “weapons of mass destruction” war…
ryanmel- no offence taken :o) I merely think it’s funny when people suggest that folks who watch/read the media are herdish.
When i was teaching, I suggested to students that they might watch SBS and ABC and offered some other media sources, as many of the students only accessed mainstream media, and therefore often got only one perspective about various things.
I guess my point was that it’s a bit of a cliche to suggest the media is a lot of rubbish. If one approaches everything they read- including on here- with a critical mind, then one will always be safe from gurus and gods. It’s those that believe everything they hear who are likely to become cult-followers. but what can one do? I guess people just need to *believe* in something, and whatever is laid before them will become the new fad.
kay henry
Thank you Kay…
At last, a viewpoint that offers something else besides the “media are all liars” brigade on here…
Cheers
rHow can it be said that people should put no weight in any stories from TT and ACA just because the journo’s/producers don’t understand as much as we do about property. They often only interview “experts” and ppl who have been on both ends of good and bad experiences. Lets get real here and understand that there are too many ppl out there getting into property without any advice and education in property. These ppl should not be getting into a lot of these deals and these TV shows may be a way to highlight some of the issues even if the shows don’t reveal all. It takes many years to become an astute property investor and even then one learns new stuff all the time.
I totally agree with giving a balanced perspective and this means showing many points of view. I also agree that TT and ACA are a valid forum for those who don’t have as much time or education in property, to see these perspectives. I do however think it is a bit late for those that are not too savvy and have already overspent in the last few years. This amounts to many thousands of ppl (especially moms and dads) who bought on the positive hype generated through the media by ppl with a vested interest in property (e.g. real estate agents, developers, builders, banks, etc)
The main issue here is do the media sensationalise (of course they do) and does this cause the info being represented to cause an undesirable effect on ppl (I think it does). But this does occur in both directions, in favour of the “there will never be a downturn” lobby in some cases, and in favour of the “doomsday prophets” lobby in other cases. I feel sorry for those ppl that cannot see all of this media input in a balanced perspective and also are not prepared to gauge general sentiment and other information like unemployment data, job ads, clearance rates, etc to reach an informed decision. There are many ppl like this!
well they don’t really highlight anything, just sensationalise. one night its the reno kings throwing around a tin of paint and putting wood contact on the floor to collect $100k for a weeks work, the next night its the impendng property disaster. its just rubbish and should be treated as light hearted entertainment. what will it be tonight, a 13 year old being offered a credit card, a dodgy builder, or a 10 year old with a $2k mobile phone bill? and how will they squeeze a property story in that half hour – OMG the scheduler there must be under presure!
Well tonights ACA or was that TT, had an interest story about fitted shoes for young kids…
Now i hope you all didnt miss it. [
]Cheers,
sisThough tomorrow nights show will be interesting.
Expert advice about DIY Renovations, are they just cycling old news with new news?
Cheers,
sisOriginally posted by kay henry:Well, Aussies come from a more critical perspective than, for example, americans might. Hence the “weapons of mass destruction” war…
ryanmel- no offence taken :o) I merely think it’s funny when people suggest that folks who watch/read the media are herdish.
When i was teaching, I suggested to students that they might watch SBS and ABC and offered some other media sources, as many of the students only accessed mainstream media, and therefore often got only one perspective about various things.
I guess my point was that it’s a bit of a cliche to suggest the media is a lot of rubbish. If one approaches everything they read- including on here- with a critical mind, then one will always be safe from gurus and gods. It’s those that believe everything they hear who are likely to become cult-followers. but what can one do? I guess people just need to *believe* in something, and whatever is laid before them will become the new fad.
kay henry
Kay I just don`t believe it`s that easy to stop your mind from being clouded, besides I don`t have the time to spend sifting the good from the bad, all I was saying is for “me” it is definately not the way to go, I mean you listen to tv and read mewspapers are you telling me this will not affect your decisions when it comes to the crunch, especially if your new to investing?, I just have a strong aversion to it but if it works for you, it works for you.[^]
It just seems that someone who seeks daily or even weekly updates on R/E generally is more in line with a speculator than a true investor, and that to me is a bit risky and really overdoing it.I don’t mean to dash your enthusiasm in property investment. But I hope you guys are aware that the reserve bank has put up interest rate twice towards the end of last year and is ready to increase further if the lending rate increase does not abate.
Also, the proportion of 1st home buyers is hitting a low of 13%, meaning a lot of properties are bought by investors. Now, if capital growth seizes and the demand from the property investors decrease. I think there will be a surplus amount of property in the market, meaning a drop in price.
Now, if you look at the November and December figures for new house starting, there is a signifcant drop. Also, the median house price in Melb and Sydney had dropped around 7% in Dec according to the Australian Property Monitor. I am also seeing price decrease in comparing sales price versus advertised price.
Good luck
Doncaster East
][}
]… now thats a nasty word… actually i rather work more, than go to school…. now thats another nasty word… [
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