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About hoolaman

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  1. Places like this are prone to spontaneous combustion.
  2. So the suggestion is not owning your own home means you are wrong and stupid. Even if you DO know about the housing market, not owning your own home cancels that out.
  3. Your debtless utopia sure sounds interesting once you get all those "if's" sorted out. Let me know how it goes. Just remember, even if house prices drop by 80%, there must still be some people who can afford a house and some who can't.
  4. Yeah, my reasons were not just related to what I posted above, my personal situation has made the stability a lot more of a tempting prospect. When I said inflation I didn't mean Weimar-Republic hyper-inflation, sometimes you guys go off the deep end . I meant the type of inflation (intentionally) caused when the RBA cuts rates to effective zero. Around the turn of the new year I saw the writing on the wall about price declines, so I wasn't ignorant there. I figured at that time the market was in a similar state to the end of 2008 where people were getting serious bargains. I feel I did get a very good buy, and paid very comfortably within what we can afford on one income if necessary. So why buy on a falling market? Because I'm not a bottom picker that's why. By the time you realize the market has come back to where you have competition on every offer it's too late to be truly mean and nasty to the vendors. Besides I don't see the price for FHB type houses going off a cliff, though the sad thought of maybe getting a bigger and better place for the same money has crossed my mind once or twice. As for rentals, I don't expect the rental market to benefit immediately from a price crash. Investors have no incentive to buy in and plenty of incentive to cash out, and I also think the inflation mentioned earlier will find its way to the rental market unless it is suddenly flooded with new listings (from where?). More likely the people who go broke and sell their houses will join hordes of people looking for a rental.
  5. We finally caved and bought a house at the start of the year, well into the downward slide, but sadly not anywhere near the bottom. This sort of thing is what tipped my decision. I see in the future: Governments inflating away their and everyone else's debts. A tight credit situation, leading to a tighter and more adversarial rental market. Savings being at risk. Better to owe THEM then for them to owe ME!
  6. The article is talking about nursing home care. If you are moving to another place of residence (with a full time staff to care for you no less) I don't see the problem with selling your house to do so, or being expected to pay for it if you have a means to do so. That's what most people do whatever their age.
  7. Yes it is supposed to be balanced but I have never been there except when it was first launched. There was a phising/spam attack from there during the dying days of ghpc, where they said everyone's account details had been transferred automatically and to go log in over there. I think it was all a publicity thing though.
  8. I just had a PTSD flashback from moderating GHPC forum.
  9. I think it says more about the wisdom of renovating and flipping properties than it does about the state of the market. I know plenty of people who still think that spending money on a house = profit. However, in a market that is relatively sane, people will price those improvements in at their cost, so you basically raise the value of a house by the money you put in. In past times the profit was actually from a hot market making everything go up in the 12 months you are holding the property. It might work if you can do a lot of the work yourself, but even then you need to pray that your time will be rewarded.
  10. That's pretty retarded. If an agent's best estimate is $20,000 lower than it was three months ago, that still represents a weakening in the market all else being equal.
  11. I like how they have to specify: "(not in receivership)"
  12. There's a good doco that's been screening on SBS about coal seam gas fraccing in the US that is very interesting. People have flammable gas coming out of their water taps. Basically we -and they- don't really 100% know the implications of what they are doing. The great artesian basin is the lifeblood of the eastern outback, and the fear of unbridled expansion of CSG is not just some greenie communist plot.
  13. I'd hazard a guess that it is not possible to lose except by neglecting to purchase some CBA product or service.
  14. I predict a 0.25 rate rise.
  15. It sounds like an elaborate bank repossesion. The bank now has the asset on its books so there is nothing like the pressure Quadwest Developments had to pay out on their loans and pay investors, subcontractors ect.