Aussie Property Kaboom

[Guest]

Just wondering if anybody here signed up for some mortgage debt over the last decade?
Craig Wing certainly did.
I know this sounds bad but i would love to see the market crumble and watch the bogans scream and shout that houses were only ever supposed to go up.
With America as certain to default on its debt as Greece what are we all backing? Personally i've gone long on hanging rope

[Guest]

Got in on WA................ cheering to be sure............AAAAAAAAHHHHHHHAAAAAAAAAABBBBBAAAA AAAHHAAAA. resourses is where its at... yeehaaaaaaa.

[Guest]

"Where's the kaboom? There was supposed to be an earthshattering kaboom!"

[Guest]

Just wondering if anybody here signed up for some mortgage debt over the last decade?
Craig Wing certainly did.
I know this sounds bad but i would love to see the market crumble and watch the bogans scream and shout that houses were only ever supposed to go up.
With America as certain to default on its debt as Greece what are we all backing? Personally i've gone long on hanging rope

So let me get this right, anyone that has bought a house as an investment is a bogan? Cheery little fvcker ain't ya???

[Guest]

So let me get this right, anyone that has bought a house as an investment is a bogan?

Not quite John, though investing in Oz property in the face of exemplary kaboom elsewhere hints of boganism. I was witness to an auction on Sat where a "done up" little mcmansion (passed in) was given a sermon by the auctioneer....."the best time to buy prop is today",,,"prop always goes up", ..."this is the greatest prop market in the world". Unfortunately his flock is turning agnostic.

[stephenj]

whats this got to do with football?

[Guest]

whats this got to do with football?

It's off topic Steve, it's cool.

[Guest]

There are idiots everywhere and that will never change. Those that complain about the interest rate going up 1% because they can't afford it will be in the paper, with their flat screen TV, in their 4 bedroomed hosue with parents retreat and kid play area and blame the government when they need to look at the banks. It has been shown time and again that some people are victims to banks lending them far too much money.

I think that if the banks lend someone more money than they can afford to payback, then the bank should lose out.

As far as investment properties go, I have a couple and they do alright. They pay for themselves after tax and I am comfortable with the risk they pose. Having said that I did not buy a place in the hope that the price would rise dramatically so steered clear of the capital cities. I may buy another property in the near future but it has to meet a certain forumla. If it doesen't then it does not get a look in.

[Guest]

Just wondering if anybody here signed up for some mortgage debt over the last decade?
Craig Wing certainly did.
I know this sounds bad but i would love to see the market crumble and watch the bogans scream and shout that houses were only ever supposed to go up.
With America as certain to default on its debt as Greece what are we all backing? Personally i've gone long on hanging rope

The housing market is the ultimate con of the endless production line to exponential oblivion. We are living the zombie apocalypse. "DEEEEEEEBBBBBBBTTTTTT".

Chook.

[Guest]

Keep up those rent payments..

[Guest]

As far as investment properties go, I have a couple and they do alright. They pay for themselves after tax and I am comfortable with the risk they pose..

John luckily you are not in the majority of the negatively geared..........with 2 IP's...
but another way of looking at it is that the tenants are paying a fee to satisfy your creditor...the bank. This is a helpful thought because, likely,a massive divergence will occur btw what the bank is owed and what someone will be willing buy it for.

[player 1]

John luckily you are not in the majority of the negatively geared..........with 2 IP's...
but another way of looking at it is that the tenants are paying a fee to satisfy your creditor...the bank. This is a helpful thought because, likely,a massive divergence will occur btw what the bank is owed and what someone will be willing buy it for.

days of investment properties making you rich are over for now, but nothing to cry about owning the house you live in

[melon....]

The housing market is the ultimate con of the endless production line to exponential oblivion. We are living the zombie apocalypse. "DEEEEEEEBBBBBBBTTTTTT".

Chook.

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.

[Guest]

The federal "government" are spending money like they've been told they have terminal cancer. The trouble is, when they die, we'll be left to suffer the effects of their suicide plunge.

[Guest]

John luckily you are not in the majority of the negatively geared..........with 2 IP's...
but another way of looking at it is that the tenants are paying a fee to satisfy your creditor...the bank. This is a helpful thought because, likely,a massive divergence will occur btw what the bank is owed and what someone will be willing buy it for.

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.