Dose

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Everything posted by Dose

  1. New thread. Tales of Danger, Inconvenience and Loss to worry The Renter. Episode One: Greens will win. Yeah...Riiiiight... http://www.smh.com.au/money/saving/how-tenants-can-protect-themselves-from-nightmare-landlords-20160623-gppvfq.html
  2. http://www.greaterfool.ca Imagine...being able to see what was actually happening instead of what the vested interests told you was happening. Confirmed. Gold! Gold for Australia...
  3. Two front page SMH (online) this morning: http://www.smh.com.au/comment/investors-become-like-bulls-in-a-china-shop-20131027-2w9ki.html http://smh.domain.com.au/real-estate-news/market-heads-up-as-chosen-areas-blast-off-20131027-2w9s2.html I wish Sheehan would take a position. Lots of "may, could, might" in his language. I think his point is that Australian policy has now priced Australians out of Australia, but get used to it...whatever that means. Or his perhaps point is more subtle...that prices will drop 25% when the rules are reset. Or he's writing a subtle homage to Walter Sobchak's famous exclamation "This is what happens when you f*** a stranger in the a**!". I'm not sure. But...blame China. Or blame your MP? Confusing. Today's second article is more direct: From my POV the market does appear to be more dysfunctional than ever. That three bedder sold for $1.2 would struggle to get more that $900 pw rent.
  4. I'm always confused by LLs who think they set the market, on rents. Crazy days.
  5. Well well it does see interesting. The CDN Gov'ts (Feds & Provincial) were trying to moderate RE with small things here and there: bump the qualify test a little, no more 30 year mortgages, min 20% down on Jumbos...and mortgage rates crept up a touch, from what I can tell about the same as here. And suddenly BAM! prices dropping, deals stuck with lawyers...90 days. Insane, but if you can't really afford it anyway why is everyone so surprised idiots at the margin were overpaying by 30%? The last time Toronto had a correction similar in size it took more than a couple of years to get back to even... so what's the hurry? Fortunately Australia has Victoria Bitter which prevents the locals from putting all this together. Canadian RE growth ...caution, sourced from rea, I think I guess with Canada stuffed Australia claims Gold Gold for Australia!? We're the only ones left, right? So we won? Gold Gold for Australia!? Why is everyone rushing for the exit?
  6. Correct....on roads and interchanges never designed for daily commuter runs. And people at work refer to you as a Central Coaster because you regularly arrive to work late and try to leave a little early.
  7. Meanwhile... Just when people quit thinking affordability would ever return the speed of the Canadian Real Estate correction is freakin' the people out. Could it happen just as quickly here? Greaterfool.ca The Landing
  8. Thoughts? I am horrified. Bring back Howard. At least you knew where he was going. Tax everything productive but spare rent-seekers. I can never vote for these idiots again. Labor, neither. I despair.
  9. Shanghai and Moscow are not on the list because nobody wants to live there. Oh, wait...
  10. I think the Choyneese should be given incentives to invest in empty skydogboxes. We need to keep the economy ticking!
  11. The amount of NG fraud must be adding up. There are houses in my area advertised for rent for 6+ months. No reduction in ask price, but why would you care in a 20% pa increase festival of toilet appreciation? But my point here is I'll bet they take these windfall profits and still expect to be able to reduce their taxes. It is an incredible time.
  12. 1. Recession. Time tested ol' fashioned cure for those who don't understand debt. 2. Fed increases interest rates. Wait. What does that have to do with the RBA? What?... Wait... 3,4,5 ...don't need 'em.
  13. I cannot imagine empty boxes in the sky will appreciate forever. Jack and the beanstock, anyone?
  14. http://www.smh.com.au/business/the-economy/foreigners-pile-back-into-australian-property-reigniting-bubble-fears-20161124-gsx97i.html Not sure if this is yellow peril or just buy. I guess one in the same?
  15. Just wait till interest rates start to creep...up!
  16. 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.
  17. 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.
  18. #Faketradie is sooooo going to be my next Fancy Dress outfit.
  19. 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.
  20. http://www.abc.net.au/news/2016-03-17/clarke-and-dawe:-the-honourable-member-for-stasis/7254794
  21. To me it looks more like a looming bank finance growth crisis...
  22. 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.
  23. 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?