Pr0

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About Pr0

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  1. Pst, yes I am here just quietly I have slipped over the border, if we are not careful we will be the new Greece!
  2. Its sort of funny as I am a really positive guy, just what I see with my eyes, you see the world very differently and I appreciate that. God help us if we were all the same, look the same, want the same things etc. The points I made in regards to Governments is just a point if you don't agree that is ok, I am not trying to change anyone's mind. Give people grants keep pumping up those prices, I don't really care about these people anymore it is their problems, not mine anymore. You believe in your figures and your stats, or even what you are fed via media, governments etc, that is all ok. I prefer the real stories of what actually is happening not beefed up statistics and Media stories, some grab my attention, though it is always the real situations and stories that keep my feet firmly on the ground. I will tell you another thing I have noticed is that if anyone has that sort of different opinion which may have some gloom and doom how quickly they band to shoot them down, possibly ridicule them in ways that are mean, this I accept all and everything one thing is you have to accept whatever is comfortable and appealing to your own needs, I have never had a need to be spoon fed. As for those who do sell knifes, don't you think if it did happen, do you see everyone smiling in the streets? I recall the last 2 recessions which were not spared, I still have those memories of the the stories I read and experienced, I do remember particular individuals who gloated and thought back then the good times will never end, I in debt over my head but hey I'm so good look at me, see how many properties I have yes I am king! then it happened the recession we had to have (of course everywhere else was going through it, why should Australia avoid it?) Then when people starting to lose everything, no gloating, feel sorry for me I had it all but its not my fault that I lost it............My thoughts back then was who then who's fault was it? I did not lose back then I was renting, good thing I recall rents actually dropped. If it happens again what you say won't happen, if it does obviously I am very wrong and present a case of gloomy scenarios then this time I am not going to listen and pity those who lose their millions, if you cannot learn from history well at least you will have your statistics! I will tell you this it is not a competition, just a warning not to get carried away with the illusion of so called fame, success and wealth, only when you own something outright 100% then only then is it truly yours not pretending it is yours. Banks may have shown some sort of sympathy, those days are not going to happen again, when a choice is for your or their survival if you owe then get ready to give it all back for less than you paid originally. Really I am being optimistic and really it is nothing personal. I write occasionally on this site, I read a lot overtime, sometimes I will have a say whether it is accepted or not, I don't lose sleep over it.
  3. I know renting sucks, paying off someones property sucks! God knows I have been doing it for such a long time, then I stopped and I have started again I have had those worries, the thoughts of needing a roof over your head, the thing is with renting it is never yours and the amount of money you have put into rent possibly could of bought so many houses, if your single it is ok, when you have family it is harder and you want something for them that is theirs & yours. Sydney is Sydney I never thought much of much of it when I lived there for 3 years nor the amount of times I have visited it, this phase / cycle we are going through will only stop when people realize that no house nor property is worth that amount of money, so they stop. I can't tell what you should do though if you can save, then save at least you have cash and how you make that grow is up to you, when the time is right you will know, stick to your guns and never over commit as in signing a mortgage that is impossible to pay off. Don't get me wrong I have property here in Australia and elsewhere, all paid off and still not there in regards to having a house that fits all of the family properly, I refuse to be pressured into something I don't want, as long as I save I am content with that. Now I am renting again as to working in another state away from the family, not happy about paying rent again however still saving.
  4. OK, 100,000 is a excessive number, as a Economy what does it exactly produce? Public Servants? somewhere in someone's mind Canberra is supposed to be Washington DC. No wonder it has no soul, it is a sterile place with a craving to identify itself as a great place to be. I have no doubt it is a very nice place, very nice people however it needs a massive cleanup / shakeup if it is ever to attract and be a competitive city then it needs an injection of private business etc, cut it back, break it up including relocating departments staff to all parts of Australia instead of herding them into one place like cattle. The economy is not a real economy it is based on Public Service nothing else. It does not come close to any other city in Australia it lacks everything except beautiful and nice people....................
  5. I have seen Paris, London. I have lived in Sydney for 3 years, I am sorry Sydney is overpriced.
  6. Hopefully they do up to 100,000 Canberra is way overpriced!
  7. Very interesting reading to all of the above and welcome to the newbie! It is hard to make predictions or even go off your gut feeling, cost of living and house prices are a joke in this country I have been looking at this for the past 15 years, today the big 4 banks cut their fixed loans their lowest for sometime, gold is falling, mining will never see their boom again not for sometime yet in the future. The truth is if a recession occurs again, there will be nothing that will save those who have truly over committed themselves. 1st home buyers are not going to jump in without thinking again, we cannot seriously believe that the Government of the day would try to encourage stupidity all over again, you & I know that if a grant comes out people will add that to their selling price which is way over priced already. There is talk that the RBA will keep on cutting at least up to another 100 basis points possibly even further, this will bring pressure on the big 4 to follow, I have no doubt that this is the future does this really sound like a rosy picture, I don't think so, unemployment is also one to watch out for we may start to see big paying jobs hard to find, people may just have to settle for what they are offered it has been happening over the last couple of years already, the burden of cost of living will not change that much, do you really believe that a Liberal Government gets in that if they make their carbon changes that prices will drop? Greatest decisions of the past 15 years, is the local state governments selling off their infrastructure to local & overseas corporations and getting out of debt! Well that did not last did it people? open your eyes you are still paying for those decisions what is even funnier it is with interest. We call it the cost of living! Prices have been climbing for over the past 10 years, why would they drop if everything else remained high? People are kidding themselves if they think things will be different, there is a good possibility that things are going to get a lot worse, if there is a recession which I believe there will be no buffer, there is no quick fix, any money that is thrown at it will only make it worse. In the past you probably have been convinced to pump up your super, not at the safety level say 100% cash, c'mon invest it in the highest level to get the maximum returns, you can't lose it will never happen again we have been told. Currently now the attack is those with remaining cash, why are you putting your money in banks? don't do that, c'mon give me your $ and I will double or triple it. Sound familiar? Just think it will not only be a long recession once we eventually come out of it, there still will be no real infrastructure projects, no manufacturing, no NBN so no IT industry etc, maybe wireless though however no future. At least we still have our sheep & cattle, hold on who will buy it there is no money! What is that you say we have our dirt, we can dig deeper, so what you think that China does not have anything of their own, please! No only thing that is a guarantee is the amount of debt that people are in which is already in record numbers, What will make it worse that should be around the time that interest rates go back up to respectable or even higher, the rates cannot stay down forever it may take a number of years but once America starts the whole world is going to follow, something we call competition. I know I am not painting you a pretty picture, if you think that everything stays rosy and Australian House prices will overshadow American and European prices such as New York, Paris, London etc keep on thinking that. There will only be some people who have actually learnt not to get sucked in, these people have been around forever not noticed much these days due to the Capitalism, once everything falls and fails this group of people will be living like kings & Queens, the real funny thing prices are going to be the lowest they have ever been and everyone else will be wondering how is it possible at the same time wondering how & when do they pay off their debts or get out of bankruptcy. It is coming people, no point complaining then.. is there?
  8. When I 1st read that article I was surprised I had assumed it was around 1 - 2 billion a year, the incentive originally for NG was OK not that I have ever agreed with it, now it is a joke, simply put money could be used elsewhere we all know this and our younger generations deserve a fair go. Maybe it is time that as a country we pooled taxes and spent it on better future growing projects, rather than this madness mindset we have developed on owning property, Australians should pay their own way without the handouts, if you cannot afford then don't buy it. This is going to be a big year I am afraid sooner or later there will be the consequences of cutting benefits to those who really don't need it, hopefully looking at NG and what it has produced is looked at in a better way and changes are made.people owned houses way before NG was introduced I am sure that we as a society can survive without it once again What are we going to do when we have nothing but property in this country, no manufacturing, no IT no nothing, do we say thank god at least I have my properties and make a loss against them, because the people who rent them can't afford to pay!
  9. Negative gearing losses a key drain on revenues DateMay 1, 2013 Be the first to comment Read later Peter Martin Economics correspondent Illustration: Rocco Fazzari Negatively geared property investors wrote-off an astonishing $13.2 billion in 2010-11, up from $10.1 billion the year before. The latest Tax Office statistics show the average loss per negatively geared investor was $10,950, up from $9130 the year before. The average loss for a negatively geared investor earning more than $180,000 was $23,800. Higher interest rates and rising property prices during 2010-11 swelled the losses. Illustration: Rocco Fazzari The figures identify negative gearing as one of the key drains on personal tax collections with one in every seven Australian taxpayers now a property investor and one in every 10 negatively geared. AdvertisementThe 2010 Henry Tax Review declined to recommend against the practice, its chairman Ken Henry telling a media conference as he was preparing the report that he ''still wears the scars'' from a short-lived experiment with limiting negative gearing in the 1980s. ''I actually think Henry was incredibly wussy about it,'' Bank of America economist Saul Eslake said on Tuesday. ''I have to translate the words 'negative gearing' to people overseas because it just sounds crazy to have a system that rewards people for losing money. Illustration: Rocco Fazzari ''Removing it would be close to the top of my agenda. I have a list of what I regard as the worst tax decisions of the last 20 years. One is the halving of the headline rate of capital gains tax [in 1999] that made negative gearing attractive. ''The others are the abandonment of indexation of petrol excise, the Senior Australian Tax Offset - the measure that says if you are over 65 you pay less tax on a given amount of income than if you are under 65 - and the abolition of income tax on super fund earnings paid to people over 60. ''They would be my contenders for the dumbest tax decisions of the last 20 years. Frankly, I can't choose between them.'' The statistics released on Tuesday also identify fuel tax credits as by far the most expensive offset in the tax system, costing $5.1 billion in 2010-11 and $5.5 billion in 2011-12, way in excess of the next biggest contenders, the Education Tax Refund which cost $700 million and the research and development tax offset which cost $614 million. The credits are for fuel used in heavy vehicles and are overwhelmingly used in the mining industry. ''The argument for it is that the purpose of fuel excise was to pay for roads, and that mining companies get a rebate because they don't use their vehicles on public roads. I guess there is some merit in that argument, although in my view not enough merit to justify $5.5 billion of revenue forgone,'' Mr Eslake said. The statistics identify residents of the eastern Sydney postcode 2027 as Australia's highest earners, taking home an average taxable income of $203,270 each. The postcode takes in Darling Point, Edgecliff, Rushcutters Bay and Point Piper. Around 50 of them are also farmers in primary production trusts or partnerships, losing between them $6.7 million. Australia's second- and third-highest earning postcodes are 3944 and 3142 taking in the Victorian town of Portsea and Toorak and Hawksburn in Melbourne. The average income for each is around $180,000. The average male income during 2011-12 was $63,000. The average female income was $42,150. Read more: http://www.theage.co...l#ixzz2RztAb7Ak
  10. Great notes and useful information that I did not know besides the shipping. Fair enough no matter what anyone thinks the problem is that the majority are not rich and they do not make the break or make deals, when I was with my wife in 2003 we noticed the explosion of foreign banks in Athens etc, with that we were told of some stories about some of the people who went to the banks for loans (personal) I was shocked beyond anything before as I was outraged at the banks for actually giving the loans, in ways similar to the Irish tales (Not Joking) I am Australian Greek, it is frustrating to me of the blame the whole nation gets when it comes down to the few who actually sign the papers (i.e Politicians etc) It is in a mess thanks to those mentioned and its people pay we may snigger (not me!) and say its their own fault really difficult to make people understand it will never be paid off ever! not a threat just saying it is impossible, roll over the debt again & again & again it will not work out for those who are waiting on the repayments. Europe is about to welcome France amongst those who are in deep it will go on & on eventually another until it drags Germany down. I do not believe there is a win win situation. Don't worry too much though the attention is going to turn to America soon as China won't keep buying their debt, it has its own problems. The world's scenario is dire and there is more negativity than positive, we cannot rule out the worst. Those who prefer to keep the main bad points under wraps will eventually be exposed down the track, you can only lie, cheat cover up for so long,then run like crap when it is all exposed. I know there are millions of people who believe everything will work out, good luck with that and God knows I pray things will get better. I am a positive person, very happy most of the time. It is a scary scenario however it was avoidable at the beginning and a few years into it, now I believe there is no going back! Sometimes when you fall it is ok to not put a bandage on the problem area as it will heal in time, when you keep a bandage on it continually the problem area never heals always soft and very sensitive to anything exposed to it including clean air. I can't really explain it any better, some of you may laugh that is ok that is a positive to some people though it is was such an easy problem area to begin with, that is the sad part!
  11. It has been sometime, I for the life of me cannot believe that the default has not happened. The situation is not good in Greece, unless they sell the whole country and rename it Greecnamy it is the end, thousands of Greeks have fled to other countries including Australia, Canada & the USA. It is impossible that it will survive, papers can print what they want including the economists making predictions etc. Truth is there are not enough people working, not enough resources to sell etc, who ever is printing the Euro and still has the delusion apart from the Greek Politicians that they can survive in the Euro are mad with power. Tick tock the time is running out, according to my cousins and friends in Greece it is a dead dream! I say let them go, you have bigger problems coming your way!
  12. Always well spoken, I just keep telling my wife just your ground if you have the cash you will splash one day. Have not been on this site for a while I have relocated up in the ACT and I know I used to read about the prices up here compared to Melbourne and I don't know what to say as of yet as it is just nuts!
  13. Yes I agree, 1 minute people are suffering and the next they are way in front. All in the space of 12 months amazing turn around must be working in the mines or should I say were or they are so incredible at their jobs they got magnificent pay rises and bonuses, & to boot those companies that suffered from the GFC have recovered all of their losses and are actually twice as strong now relating to before the GFC. Incredible times & recoveries! It is all propaganda!
  14. So the market is improving! More people out of work, no one is shopping and we are buying more houses. Nothing against those who post the figures here on the Forum as you all are the best but none of it correct from the actual people who are supplying them So many years down the track the amount of houses etc that have sold or resold, So the situation is this, has the population of Victoria / Melbourne grown as how many properties have been bought say over the last 5 years at least. It comes down to this with all the people who are now out of work and then some as those figures are rubbish. No offense who is actually buying all of these properties, there has been a significant downturn in Melbourne over the past 2 - 3 years people are not shopping, holidaying, eating out etc. People have actually woken up and don't throw their money away easily at properties, the work force has decreased. Unless a majority of Victorians were working in the mines which is now on the way down who is buying? Real Estates agents? The same people who have been buying for the past 5 years? who exactly has all this money the banks have actually made it harder to get bigger loans these days so where is all the money coming from? I don't really care who they are, go ahead buy some more as you have my blessing. I will be waiting on the fire sales in the coming years, recession / depression is coming folks be ready or get left behind! C'mon 2013!!!!!!!!!