Dose

Advanced members
  • Content count

    948
  • Joined

  • Last visited

Everything posted by Dose

  1. All the investors I used to argue with are simultaneously calling agents to find out that the next opportunity to sell at auction will be in ... February. No hurry, because by February / March auctions will be pretty much the silly way to sell, unless you are needing to clear. Hit the bid, fest.
  2. Dr Ando is getting downright grim! http://www.domain.com.au/news/6000-sydney-auctions-before-christmas-and-many-will-not-find-a-buyer-20151113-gkxlbe/ That must be a typo, property prices never fall in the Dumbfax empire. I recall having a discussion that turned a bit testy when a property speculator I worked with suggested he could get out in time. I mentioned that it takes at least 6 weeks to list and sell a house AND he would be lagging the market by a similar number of weeks. Speculators will withdraw their properties but that just creates pent up supply (how ironic). The 2015 selling season is pretty much over, a rush to the exits after this weekend won't really show up until February. The personal irony is I have pretty much given up on owning but have become rather fond of a diversified portfolio returning capital gain, dividends and bond yield. It might be hard to return all that good stuff I was forced into even if prices DO fall.
  3. Hobart is next! I've attended a few auctions the past few weeks. Not a single Chinese winner! The grim-faced locals are taking advantage of the lull in Chinese property interest due to Singles Day.
  4. http://www.theprovince.com/business/Will+Vancouver+real+estate+bubble+burst/11160850/story.html Special places, all over the place.
  5. http://www.heraldsun.com.au/leader/realestate/winning-bidder-throws-auction-system-into-turmoil-by-refusing-to-buy-in-glen-waverley/news-story/9cb764d938e6f99cf4f4348b598efd40 Well isn't this interesting...it is suddenly news that you are not obligated to sign after winning at a Victoria property auction. I have always marvelled at how sheeple wilfully participate in a process that exchanges millions of dollars in a single transaction without knowing the rules. Whoopsie! NOT sold. Real estate porn which portrays the nervous time as occurring during the bidding distract from the fact that the real moment of truth is getting the winner to sign. Nice place. 2.2m for a knockdown on the rail line. Things are lookin' up in Glen Waverley. I wonder if the developer thought he was buying both lots but mistakenly bought only one and then changed his mind? http://www.realestate.com.au/property-house-vic-glen+waverley-120812177
  6. 2.2mio ... yes, that is news. I do suspect more folk went "Hang on, whaddya mean you don't have to buy it even if you win the auction???!??". IMO the who Aussie house auction fetish will be in fashion until prices flatten or drop. In North America auctions are used to clear at the best price a seller can get...just like the junk (err....Collectibles) auctions here in Aus. Then the fun begins.
  7. Smoke and mirrors to distract from the fact that the current tax laws encourage over-investment in houses full stop. And advantage investors over owner-occupiers. Nuther full stop. The Canadians shut down their investment visa program and guess what? Property continued to march up and up. Then they dropped interest rates to "full-Blown Crisis" settings, guess what the locals are doing? The Yellow Peril theory (legit or agent scare tactic) will be tested with Joe now declaring all FIRB property recommendations will be accepted. http://www.macrobusiness.com.au/2015/08/government-agrees-to-all-foreign-investment-recommendations/
  8. That's hardly fair! A property developer employed with local government using supercars, helicopters* and a cavalcade of bikies as theatre in his "lavish" wedding? Strayan' dream, buddy. If you don't like it get out! *Bronnie knew to draw the line at helicopters
  9. Of course a market driven by government-sponsored investor subsidies which also can only go up is considered "normal"? Until Bozo Joe starts unloading his property portfolio there is nothing to be concerned about.
  10. Seriously...If I could sell any part of Australia off it would be the Gold Coast. Does not mean you can't visit...
  11. The buyers of the Latvia Avenue home, who plan to live in the house, were attracted by its location in a quiet street, said agent George Ronis, of Ronis Real Estate. "Demand is very strong here and it's because we're still affordable on Full Retard," he said. https://www.youtube.com/watch?v=X6WHBO_Qc-Q http://news.domain.com.au/domain/real-estate-news/sydneys-workingclass-heartland-is-now-millionaires-row-20150724-giivb5.html
  12. Winners? The fact they made $1.1m PROFIT on a sale, bought a house worth $1m out in the sticks and are STILL in debt tells me these folks are not winning. They won the friggin' lottery and are still in debt. Nice ad to pump up the derelict dumps in North Ryde, though...Stephon's phone must be ringing off the hook!
  13. http://www.theglobeandmail.com/report-on-business/rob-commentary/vancouver-is-mortgaging-its-future-for-a-market-thats-anything-but-free/article25558615/ Strong words coming out of Canada's equiv of The Australian!
  14. How difficult for real estate agents to predict the prevailing market conditions... Prices are doubling every few weeks! First cab off the rank in this weeks' results: http://www.homepriceguide.com.au/saturday_auction_results/Sydney_Domain.pdf 25 Kiernan Crescent, in the appropriately-named Western Sydney suburb of Abbotsbury. http://www.domain.com.au/for-sale/25-kiernan-crescent-abbotsbury-nsw-2176-2012049666 Price guide "Over $950,000" Passed in via 11 July 2015 posted results: $1,870,000
  15. Which is a direct response to housing and taxation policy. Joe is happy. Keep buying, people, what could possibly go wrong?
  16. http://www.greaterfool.ca/2015/06/22/guess-what-3/ I think Garth may not understand how vested the political capital is in RE down here but I do like his style...
  17. I have no issue with a stipend, when I travel overnight my expenses are paid. Now, if the house remains unavailable to rent to others when Joe isn't in Canberra, and his wife claims the loss, well, lifters and leaners jumps to mind.
  18. Assistant Treasurer Josh Frydenberg bursts real estate bubble speculation http://www.smh.com.au/federal-politics/political-news/assistant-treasurer-josh-frydenberg-bursts-real-estate-bubble-speculation-20150607-ghif6l.html http://www.smh.com.au/federal-politics/political-news/assistant-treasurer-josh-frydenberg-bursts-real-estate-bubble-speculation-20150607-ghif6l.html My goodness? Who should I believe? The well-connected Member for Kooyong with experience in law and ahem, politics, who reports to Bubbles Hockey and The Minister for Increasing House Prices Abbott or this John Fraser fellow... http://en.wikipedia.org/wiki/Josh_Frydenberg http://en.wikipedia.org/wiki/John_A._Fraser_(businessman) Frydenberg and Fraser are not equals though most regular folk would be lazy enough on a Sunday to assume they are. The fact that Frydenberg so quickly and publicly dismissed Fraser's considered view tells me all I need to know. You have to believe Fraser and then Frydenberg did not make their public comments by accident. At this stage my view is the government is desperately trying to delay reality until they can blame it on an ALP government. It is truly a race against time both inside and outside the government. Google trends shows "Australia Housing Bubble" at all time highs.
  19. The mainstream media sowed the seeds of its own demise. To borrow from Garth Turner, I'm no rock-licking, TinTuna-hoarding Doomer but newspapers are entertainment only. And never ever pay for one 'cause you get what you pay for. And thus the paid-article-as-news theme. And I share this view pretty widely. And people look at me like "Hey, I've never looked at it that way." No sh*t. There are plenty of media sources offering far better information and entertainment value (free and paid). Government? Nah...I don't think the politician has my interests at heart, either. Let the editors at news and fairfax make their own decisions and see how that turns out. The part I find interesting is the very ones getting sucked in (supposedly) are the young (and naive). They would be the last people reading newspapers or sitting through the finance segment of the 6'o'clock news. It's all a sham and just like here pockets of people are figuring out and talking about it. I hope Hannah is 98% leveraged on $5m of Adelaide rental flotsam. Then the lesson will be plain to see, and that's what her friends and family will whisper about around the BBQ. That will be the news.
  20. Groupthink and overwhelming financial illiteracy leads to me to think the confidence people have regarding managing their housing costs may be overstated...
  21. Not a fan of the AUD? Looks interesting but last I checked I'm no investment adviser. http://www.betashares.com.au/products/name/u-s-dollar-etf/#each-overview .45% management fee, which is a bit high but I guess the cost of a mattress would be considered a cost, as well.
  22. This is going to be SPECTACULAR.
  23. Where on earth did Michael West get that information? It is ironic he writes real estate articles for a newspaper but seems not to read real estate articles from other newspapers. Canada tightened up visa laws yet the Vancouver market remains in runaway mania mode. http://www.vancouversun.com/business/April+housing+sales+among+factors+driving+growth/11056633/story.html https://www.biv.com/article/2015/5/opinion-why-vancouvers-real-estate-market-unlikely http://www.theglobeandmail.com/life/home-and-garden/real-estate/affordable-housing-out-of-reach-for-vancouver-millenials/article24707935/ http://www.vancouversun.com/business/affordability/Barbara+Yaffe+Another+real+estate+reality+drives/11056118/story.html http://www.vancouversun.com/business/real+estate+market+generates+interest+flipping+West+Vancouver/11060089/story.html http://www.huffingtonpost.ca/2015/05/05/calgary-vancouver-home-sales_n_7214266.html http://bc.ctvnews.ca/overcoming-bidding-wars-how-to-compete-in-vancouver-s-red-hot-housing-market-1.2365530
  24. http://news.domain.com.au/domain/real-estate-news/obeid-dream-house-back-on-market-20110405-1d2zz.html Tip of the iceberg? Not that he's guilty or anything...