Dose

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Everything posted by Dose

  1. BC just put in a $2m+ foreign purchaser premium tax on real estate purchases. Garth Turner's view... http://www.greaterfool.ca/2016/07/25/the-crash-tax/http://www.greaterfool.ca/2016/07/25/the-crash-tax/ I have to admit the BC government's "discovery" that (only) 5% of real estate transactions in Vancouver are foreign aligns with my initial theory that it is similar here...it is an easy target to blame The Choyneese even though chances are you have relatives participating state-sponsored RE speculation just down the street. Time will tell. Interesting that BC is a jurisdiction experiencing similar RE rises, in theory driven by a similar cause, now investigating and identifying actual facts about the situation. Don't worry though, can't happen here...we currently have one of the largest cabinets in Australian political history that chose to omit a Housing portfolio. She'll be right.
  2. It all does really align with the Macrobusiness RE Locusts meme... "NG on new builds only will drive up rents." Really? Doesn't matter if it is right or wrong when most people have low awareness in personal finance or economic principle... a catchy tag phrase is all you need to win the masses. Pass the Raid.
  3. #Faketradie is sooooo going to be my next Fancy Dress outfit.
  4. It is the size of the borrowing at the margin that will bring it all down. This was on the front page of the online Sydney Morning Domain today. Introducing Edward Dilleen,...Australian of the Year candidate?. http://www.domain.com.au/news/six-properties-at-24-from-housing-commission-to-property-investor-20160614-gpht77/ OK, $800k in debt on a <$50k salary depending on Capital Gainz via low-income property rentals in areas of high unemployment. Plus, from the sounds of it, no financial backstop (i.e. bank of mom). It would be perfect if he worked in shoe shine.
  5. http://www.abc.net.au/news/2016-03-17/clarke-and-dawe:-the-honourable-member-for-stasis/7254794
  6. To me it looks more like a looming bank finance growth crisis...
  7. I'd suggest you are putting too much thought into this. The turning point will be when Bogan A turns to Bogan B and says "You lost how much? Those greedy Banking Bastards!" The death of Equity Maate will mark the moment. Closer, now.
  8. Well that's the thing, huh? In the current environment of priced-out-forever and crisis-setting low interest rates one could be fooled into thinking 95% lvr with a backstop from family is the path to riches. Of course, what if the family retirement plan is heavily overweight property with a dash of negative gearing? Let's not overlook the Variant Perception report on the Western Sydney Mortagenado http://www.brokernews.com.au/news/breaking-news/afr-report-on-brokers-a-serious-allegation-mfaa-212393.aspx A young builder and his 23 year-old wife...$1m in debt and oh so lucky! What could possibly go wrong?
  9. The comments alone are pretty entertaining!
  10. Of the local auctions I attended in Nov 2015 all the winning bidders were almost certainly not Chinese.
  11. I saw that release as well. Then I got to thinking... All those astute investors would have started picking up news of a slowing RE market late last year. The they headed out the the beach for a month of fun and sun. Now they are back...listings (in my area) appear to be up. Rents (in my area) appear to be down, the ASX is no sanctuary... and now Labor is looking at changing tax rules around investments. What's a speculator to do?
  12. Oh come on now...what could a real estate industry possibly have to gain by talking up Yellow Peril in a market so pickled in debt they need family or lo-doc loans to cover the deposit? I have been to a number of auctions over the past year and see with my own eyes who is bidding and buying, yet the papers scream Attack of the HAM. What's the saying? If it is in print it must be true? Meanwhiie, in VanKong... http://www.greaterfool.ca/2013/02/14/the-myth-of-ham/
  13. It starts with a trickle. Canadian perspective? http://www.greaterfool.ca
  14. I'm sure Andrew is well equipped to prepare for things he's never seen before. The best part of that article was Kochie popping up on an embedded video to walk me through all the confusing words like depreciation and negative gearing.
  15. Platinum requires a minimum credit check of negative equity. This kids in Noel's counsel are over $1m in mortgages with 170k COMBINED income going into a recession. That is gold...over-leveraged in mortgage and dual-incomed to service. Kids, sickness, job loss are not options for Gold level. To get to Platinum you need to leverage such that in that interest rates will NEVER go up, only down. Perhaps even to the point where the banks / government / employers PAY YOU to take out more debt. That sir, is platinum. And when you buy that sixth investment property on the Gold Coast / Central Coast / Hewitt, SA the bankers will say manga manga tusend tuck with heads bowed to your impressive debtballs. For they be Platinum. You are way too liquid and thought-out to qualify for anything higher than red. I know, I know... embarrassing!
  16. Everything I have seen and read over these, what...10 years (?!) links credit with prices. I don't know about the rest of you but it seems credit started drying up a few months ago and now, in my area, I see more for rent than ever before and predict a surge in listings in about two weeks for sale in ... March. March 2016 was the prediction some time back on Macrobusiness, as well. People will get caught but not those savvy investors who watch the market and get out at the top. Good times.
  17. http://www.smh.com.au/money/super-and-funds/should-you-keep-your-investment-property-or-reduce-debt-20160113-gm4s1o.html Interest rates are low, and MSM Noel reassures that debt is the answer. I mean, really, what negatively-geared 2014 unit is NOT the answer to wealth generation? Not only has Australia won Gold...this type of forward thinking assures it will win Gold forever!
  18. Could you imagine what that would look like from the car dealership? That Buick (err "holeden") or Toyot-ha just became 25% more expensive. The fellas at Macrobusiness are calling ~60's but the AUD is a stubborn one...rising, resisting, hanging on. Interesting to see CAD fall away from AUD, for the longest time they were in lockstep but I assume now that oil is out of the game the AUD powered by Big Coal will be unstoppable?
  19. wait...what?
  20. c'mon it is the silly season, lighten up!
  21. Macrobusiness called this months ago. Outstanding! Gobblegobble!
  22. Equity maaaate goes in reverse... after 6 months it starts to go cactus. Aussie QE is the equiv of selling us rocks for $20/T. Who's in? Money to me made! OK, just need to borrow that against the house. Oh, wait...
  23. I would think mr.hong has just deferred the big QLD holiday and is "considering" the new A5. The pain has yet to arrive! Proper (ponzi) goes up!
  24. For those who follow real estate closely this has been an interesting three or four weeks! Where have all the buyers gone? What is happening to offshore funding and mortgage rates? Is this really the time? Maybe a line was crossed when Sydney houses started to list for $3m that were just, well, big houses out in the burbs. $3 mil should be able to get you more than a house in the burbs. Even born and bred Aussies are open to that idea. Too early to call, been there before. But imagine a place where it was rewarded to invest in things that actually produce...things? Quite unAustralian!