Aussie Property Kaboom

[Guest]

Hang on Chook.

Debt cant be that bad...Gillard and Swanny are borrowing and spending like there's no tomorrow. I guess the resources will pay for it. And the everyday bloke with said mortgage via another Tax on Oxygen.

Its all good.

lol, that's one dumb analogy. I'm talking about personal and systemic debt which in this country far outweighs government debt by a long way. Which is what this thread is about so please, you and double D stop trying to hijack it into a government bashing tirade.

Chook.

[Kingbilly]

An investment is worth nothing until you sell it. The price I paid for it does not change. Selling an investment in the short term is risky. The risk lessens the longer you hold it. If I didn't have the properties what would I be doing with the extra money? Probably spending it on shit that I don't really need. My plan is to sell years down the track on a property that I own. In the meantime the rent will be forthcoming each week.

I have years to go until the investment properties are paid off, but then it was always a long term view.

John
this idiot is one of the many that whinges because they can't do.
They aren't happy because it isn't provided to them free on a platter.
With their low IQ and high apathy, this communist attitude apeals to them along with big words they don't quite understand

[Guest]

this communist attitude apeals to them along with big words they don't quite understand

Um... its called the free market. Kabooom.
Negative Gearing, First home buyers grant, low CG tax, and just recently in Brisbane a first home builders grant has been activated...................if that ain't propping up dead wood i don't know what is.
Low IQ would be to invest (NOW) in the oz property market.
Apathy would be to beieve that property only goes up
Commie would be to huddle together as the Kaboom tears away the facade

[Guest]

Um... its called the free market. Kabooom.
Negative Gearing, First home buyers grant, low CG tax, and just recently in Brisbane a first home builders grant has been activated...................if that ain't propping up dead wood i don't know what is.
Low IQ would be to invest (NOW) in the oz property market.
Apathy would be to beieve that property only goes up
Commie would be to huddle together as the Kaboom tears away the facade

And that's the stupid thing, we're propping up a market that NEEDS to go kaboom! The property market in OZ is extravagently overpriced now and will be unreachable when my teenager wants to buy. Average house prices are 7.5 times the average wage I think and repayments are 40% and above of weekly wages? It is ludicrous to think this is sustainable. Banks are still letting people borrow enormous amounts to buy and guess whose fault that will be when it all goes gut up? Yep the borrowers. We'll end up like Japan who have generational loans.

Chook.

[Guest]

The property market in OZ is extravagently overpriced now and will be unreachable when my teenager wants to buy.

That is the non sequitur that is at the heart of the problem with bogan aspiration.
Yes it is overpriced. But that does not mean therefore your son won't be able to afford in the future. The market always tends towards the mean OVER THE LONG TERM.
A correction is not a mealvolent act of God or Communists or Terrorists. It is a technical necessity that brings prices in line with what is sustainable.
See America
See Ireland
See the Gold Coast
and watch WA.
Kaboom

[Guest]

If your keen on makeing some$$$$ in the next 3 to five years Mudgee is the place. you can't find rentals, if you can expect to pay 300 to 450 a week, if your place is fully furnished 750 to 1000 a week. in the next 3 to 5 years population is expected to jump by 5 to 7 thousand, with 2 new coal mines opening in the past 4 years and a third to expand production. add to that another 5 new mines to begin operation in the next 5 to 7 years and you have NSW's next boom town!! already been covered on the news and in property investment magazines.. if you want to earn some $$ get in soon.. This information given to chookpenners is free!!!

[Guest]

That is the non sequitur that is at the heart of the problem with bogan aspiration.
Yes it is overpriced. But that does not mean therefore your son won't be able to afford in the future. The market always tends towards the mean OVER THE LONG TERM. A correction is not a mealvolent act of God or Communists or Terrorists. It is a technical necessity that brings prices in line with what is sustainable.
See America
See Ireland
See the Gold Coast
and watch WA.
Kaboom

Perhaps, but unfotunately the mean is now out of reach of first home buyers. The gap between average house prices and average wages has been growing for a decade or more.

Chook.

[Guest]

I saw a news item the other day saying that people are now buying apartments as their primary domicile.

[Guest]

So with the property market being overpriced, let's just say that you are selling your primary residence. What price would you accept? The highest of course. Or maybe you would take far less so the young couple could get a foot in the door....

We all contribute the problem.

[Guest]

If your keen on makeing some$$$$ in the next 3 to five years Mudgee is the place. you can't find rentals, if you can expect to pay 300 to 450 a week, if your place is fully furnished 750 to 1000 a week. in the next 3 to 5 years population is expected to jump by 5 to 7 thousand, with 2 new coal mines opening in the past 4 years and a third to expand production. add to that another 5 new mines to begin operation in the next 5 to 7 years and you have NSW's next boom town!! already been covered on the news and in property investment magazines.. if you want to earn some $$ get in soon.. This information given to chookpenners is free!!!

On the Domain website it lists 54 properties to rent. Realestate.com.au has 58. Seems that there are a few available.

[Guest]

On the Domain website it lists 54 properties to rent. Realestate.com.au has 58. Seems that there are a few available.

in the shire or in the town???

[player 1]

Where is the kaboom?

When the GFC hit, we had "respected economists" not just predicting, but declaring it was inevitable that Sydney properties would over 2 or 3 years decline in value by 30-50%.

It sounded like a load of rubbish and it was.

[Guest]

in the shire or in the town???

I don't know. In Mudgee. Are you able to say what the price of a place that is being rented out for $300 per week what it would be worth to buy?

[Guest]

In the town of mudgee you can buy houses From 200 to 400 and get 300 to 450 awk rent. the rule of thumb is 200 a room. and its only going to climb, there's plenty happening. get on it if you are an investor. do your home work. agents like the property shop/ raine and horne / proffesionals/look in town. new and up and coming developments.. $$$ to be had.

[Guest]

400k for a house and 400 per week for rent will leave you too much out of pocket. You would be relying on high growth in house prices to get anywhere and as with most rural areas, this is unlikely to happen in the short to medium term.