Australian Politics Forum - 'Worst ever' property dive after disasters

Lisa Jones

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Re: 'Worst ever' property dive after disasters
Reply #180 - Mar 6^th, 2011 at 5:43pm

Mate it isnt me. It's my mum and dad's place.
I haven't made a red cent out of all this.

- Andrei

Mum and dad's place?? Only little kids talk about their mum and dad, Andrei.

Tell us about YOUR place!

And remember what you just said .. competing against cashed up Asians who can access interest rates at half the rates that you and I can ... seems to somehow work for you.

By all means do tell us how this works for YOU! I know I am all ears.

OK .. the floor is ALL yours.

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Sir lastnail

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Re: 'Worst ever' property dive after disasters
Reply #181 - Mar 6^th, 2011 at 6:09pm

Lisa Jones wrote on Mar 6^th, 2011 at 5:27pm:

Last Nail .. you obviously don't know the Chinese community. Read back .. I've indicated by way of newspaper articles and personal experience exactly what types of properties they are after.

And believe you me .. they get what they want. They have the $$$$ at half the interest rates we Aussies can access. Make no mistake about that.

It's an absolute miracle I was able to come away as the successful bidder in ONE of the 3 back to back auctions I attended yesterday. As I stated earlier .. the competition is VERY fierce out there ... you can't get onto the property as a registered bidder on a/c of the people crawling around and good quality houses in awesome positions are selling above and beyond their reserve price.

Needless to say .. I've been conducting a 12 hr post-mortem over the whole thing ever since. I believe I did ok. I am of the opinion that I probably paid about 50K - 100K above the true worth of the house .. but given I was up against 2 Asian cashed up couples .. I did ok.

The fact is ... the house in question is absolutely lovely and in an awesome POSITION! And there was nothing else on the market that really grabbed me. The house stood out for me in a very big way. It's going to make money for me in the long term THANKS to its awesome position (mainly).

Again I probably should remind everyone .. whenever I talk real estate .. it is the Sydney domestic real estate market that I am referring to as THAT is my area of expertise.

But you are missing the point though. Property doesn't keep going up in price indefinitely just because chinese can get cheaper loans than us. Those chinese people that buy those places know that they still have to pay back the loan so their banking system is not a money tree with an endless source of money. You seem to think that property bubbles can burst everywhere else in the world except for australia because somehow australia has magical powers to stop bubbles from bursting. I'd like to know what these magical powers are Wink

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Sir lastnail

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Re: 'Worst ever' property dive after disasters
Reply #182 - Mar 6^th, 2011 at 6:09pm

Lisa Jones wrote on Mar 6^th, 2011 at 5:43pm:

Mate it isnt me. It's my mum and dad's place.
I haven't made a red cent out of all this.

- Andrei

Mum and dad's place?? Only little kids talk about their mum and dad, Andrei.

Tell us about YOUR place!

And remember what you just said .. competing against cashed up Asians who can access interest rates at half the rates that you and I can ... seems to somehow work for you.

By all means do tell us how this works for YOU! I know I am all ears.

OK .. the floor is ALL yours.

he still lives with his mum and dad. that's how it works Wink

LOL

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"If you take out Saddam, I guarantee you that it will have enormous positive reverberations on the region..." - Benjamin Netanyahu in 1995

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Andrei.Hicks Gold Member Offline Australian Politics Posts: 23818 Carlsbad, CA Gender:	Re: 'Worst ever' property dive after disasters Reply #183 - Mar 6^th, 2011 at 6:13pm My parents live in England mate. Have done for the last decade. Now how's the electric car going? Got one yet? PS - Chevron spent $650m on R&D into cleaner technology last year. Check out their filed 10K statement for Dec 31. Doing nothing huh?
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Sir lastnail

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Re: 'Worst ever' property dive after disasters
Reply #184 - Mar 6^th, 2011 at 6:13pm

Andrei.Hicks wrote on Mar 6^th, 2011 at 5:25pm:

Mate it isnt me. It's my mum and dad's place.
I haven't made a red cent out of all this.

As regards Holden - yep I'd rather they got the grant. Aussie jobs mate. More important than anything.

changed your tune again have you. you didn't think twice about sending jobs over seas to third world sweat shops Sad

and what of the local australian company who couldn't get a red cent to manufacture an EV but Holden gets 200 mill to import yet another fossil fool car from Korea. That's not creating jobs, that is just buying jobs Sad

It's extortion Sad

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Sir lastnail

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Re: 'Worst ever' property dive after disasters
Reply #185 - Mar 6^th, 2011 at 6:15pm

Andrei.Hicks wrote on Mar 6^th, 2011 at 6:13pm:

My parents live in England mate. Have done for the last decade.

Now how's the electric car going? Got one yet?

PS - Chevron spent $650m on R&D into cleaner technology last year. Check out their filed 10K statement for Dec 31.

Doing nothing huh?

where do i get one idiot ??

I tried to buy one from Holden but all it could sell me was a piece of sh.t imported from Korea that cost $1.60 per liter to fill up at the fool bowser and still required filthy oil changes Sad

Green car - my arse Sad

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"If you take out Saddam, I guarantee you that it will have enormous positive reverberations on the region..." - Benjamin Netanyahu in 1995

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Andrei.Hicks

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Re: 'Worst ever' property dive after disasters
Reply #186 - Mar 6^th, 2011 at 6:17pm

Our Action Plan on Climate Change
In 2001, Chevron began implementing its Action Plan on Climate Change to manage and reduce GHG emissions. The plan calls for reducing emissions and increasing energy efficiency; investing in research, development and improved technology; pursuing business opportunities in promising, innovative energy technologies; and supporting flexible and economically sound policies and mechanisms that protect the environment.

In 2009, our total emissions were 57.4 million metric tons, better than our goal of 60.5 million metric tons.1 Our GHG emissions intensity in 2009 was approximately 33 metric tons of CO2 equivalent per 1,000 barrels of net oil-equivalent production from our Upstream operations, down from 37 metric tons in 2008. Our Downstream intensity was approximately 36 metric tons of CO2 equivalent per 1,000 barrels of crude oil that was input into our refineries, the same as in 2008

http://www.chevron.com/globalissues/climatechange/

Didn't you say NOTHING was being done Lastnail??

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Lisa Jones

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Re: 'Worst ever' property dive after disasters
Reply #187 - Mar 6^th, 2011 at 6:22pm

But you are missing the point though. Property doesn't keep going up in price indefinitely just because chinese can get cheaper loans than us. Those chinese people that buy those places know that they still have to pay back the loan so their banking system is not a money tree with an endless source of money.

- Last Nail

NO NO NO!!!

Read back .. I explained all this before and I also proved it with recent newspaper articles.

Ok .. let me explain this a tad easier.

Fact 1: Asians have access to interest rates less than half compared to ours. WE cannot access the interest rates they can. In short .. we are unable to compete with them in the same property market .. as they have the upper hand.

Fact 2: They can and do borrow more as a result.

Fact 3: They have access to our domestic real estate market

Fact 4: They are therefore accessing prime real estate opportunities ie they are buying quality land in top positions.

Fact 5: Why? Because they're not stupid. They know THIS is how you can make money once you sell it later on back to Aussies for a profit.

In short .. they are accessing and thus making awesome capital gains that we cannot.

NB. They're interested and able to buy PRIME positioned properties because these properties make the big $$$$. In so doing .. the property is "bubbling" because they CAN bid above the reserve price at auctions and they do. This is what is raising the prices of decent/quality properties.

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If I let myself be bought then I am no longer free.

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Sir lastnail

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Re: 'Worst ever' property dive after disasters
Reply #188 - Mar 6^th, 2011 at 6:24pm

Andrei.Hicks wrote on Mar 6^th, 2011 at 6:17pm:

Our Action Plan on Climate Change
In 2001, Chevron began implementing its Action Plan on Climate Change to manage and reduce GHG emissions. The plan calls for reducing emissions and increasing energy efficiency; investing in research, development and improved technology; pursuing business opportunities in promising, innovative energy technologies; and supporting flexible and economically sound policies and mechanisms that protect the environment.

In 2009, our total emissions were 57.4 million metric tons, better than our goal of 60.5 million metric tons.1 Our GHG emissions intensity in 2009 was approximately 33 metric tons of CO2 equivalent per 1,000 barrels of net oil-equivalent production from our Upstream operations, down from 37 metric tons in 2008. Our Downstream intensity was approximately 36 metric tons of CO2 equivalent per 1,000 barrels of crude oil that was input into our refineries, the same as in 2008

http://www.chevron.com/globalissues/climatechange/

Didn't you say NOTHING was being done Lastnail??

Just fiddling around the edges without really changing anything.

Tell me why chevron won't sell or license out it's Ovonics NiMH batteries to EV manufacturers ??

Now that would be doing something wouldn't it. Less people driving around in polluting fossil fool cars making a mess of the environment Wink

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Lisa Jones

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Re: 'Worst ever' property dive after disasters
Reply #189 - Mar 6^th, 2011 at 6:26pm

Lisa Jones wrote on Mar 6^th, 2011 at 6:22pm:

But you are missing the point though. Property doesn't keep going up in price indefinitely just because chinese can get cheaper loans than us. Those chinese people that buy those places know that they still have to pay back the loan so their banking system is not a money tree with an endless source of money.

- Last Nail

NO NO NO!!!

Read back .. I explained all this before and I also proved it with recent newspaper articles.

Ok .. let me explain this a tad easier.

Fact 1: Asians have access to interest rates less than half compared to ours. WE cannot access the interest rates they can. In short .. we are unable to compete with them in the same property market .. as they have the upper hand.

Fact 2: They can and do borrow more as a result.

Fact 3: They have access to our domestic real estate market

Fact 4: They are therefore accessing prime real estate opportunities ie they are buying quality land in top positions.

Fact 5: Why? Because they're not stupid. They know THIS is how you can make money once you sell it later on back to Aussies for a profit.

In short .. they are accessing and thus making awesome capital gains that we cannot.

NB. They're only interested in (and ABLE to buy) PRIME positioned properties because these properties make the big $$$$. In so doing .. the property market is "bubbling" because they CAN bid above the reserve price at auctions and they do. This is what is raising the prices of decent/quality properties.

But all this appears to be ok for Andrei. In fact .. it even WORKS for him as an Australian citizen.

I'd like to know how?

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If I let myself be bought then I am no longer free.

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Sir lastnail

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Re: 'Worst ever' property dive after disasters
Reply #190 - Mar 6^th, 2011 at 6:29pm

Lisa Jones wrote on Mar 6^th, 2011 at 6:22pm:

But you are missing the point though. Property doesn't keep going up in price indefinitely just because chinese can get cheaper loans than us. Those chinese people that buy those places know that they still have to pay back the loan so their banking system is not a money tree with an endless source of money.

- Last Nail

NO NO NO!!!

Read back .. I explained all this before and I also proved it with recent newspaper articles.

Ok .. let me explain this a tad easier.

Fact 1: Asians have access to interest rates less than half compared to ours. WE cannot access the interest rates they can. In short .. we are unable to compete with them in the same property market .. as they have the upper hand.

Fact 2: They can and do borrow more as a result.

Fact 3: They have access to our domestic real estate market

Fact 4: They are therefore accessing prime real estate opportunities ie they are buying quality land in top positions.

Fact 5: Why? Because they're not stupid. They know THIS is how you can make money once you sell it later on back to Aussies for a profit.

In short .. they are accessing and thus making awesome capital gains that we cannot.

NB. They're interested and able to buy PRIME positioned properties because these properties make the big $$$$. In so doing .. the property is "bubbling" because they CAN bid above the reserve price at auctions and they do. This is what is raising the prices of decent/quality properties.

yes but what stops the bubble from bursting when there is a credit squeeze, rising interest rates, rising fuel prices, world instability etc ?? sooner or later something has to give no matter how many chinese buy up property here !!

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« Last Edit: Mar 6^th, 2011 at 7:00pm by Sir lastnail »

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Lisa Jones Gold Member Offline Australian Politics Posts: 39047 Sydney Gender:	Re: 'Worst ever' property dive after disasters Reply #191 - Mar 6^th, 2011 at 6:34pm yes but what stops the bubble from bursting when there is a credit squeeze and rising interest rates ?? - Last Nail Nothing. As I stated earlier .. there will be an "adjustment". I don't believe it's going to be anything more than that. Read back .. I posted about that this afternoon.
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Lisa Jones

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Re: 'Worst ever' property dive after disasters
Reply #192 - Mar 6^th, 2011 at 6:35pm

Lisa Jones wrote on Mar 6^th, 2011 at 12:58pm:

Sir lastnail wrote on Mar 5^th, 2011 at 5:55pm:

Lisa Jones wrote on Mar 5^th, 2011 at 3:21pm:

Yep and you're spot on Last Nail. We're still in a bubble .. FOR SURE!

I just got home 15 mins ago having attended 3 back to back auctions today. And ALL 3 auctions were full on. You couldn't get INTO the properties .. even as a registered bidder .. and there were many cashed up Asians with overseas $$$ at interest rates half our domestic rates bidding hard. Bottom line???

All 3 homes sold well above their reserve price!

The worst ever property dive eh? What a total load of croc!

If anything (ie given hands on real life experience and having checked out a few web sites) .. the trends show median house prices are RISING!

NB I am referring to the Sydney real estate domestic market <-- I keep saying this I know .. just in case anyone isn't aware.

Like I said that you would most likely be outbid by chinese dudes with access to a more generous banking system than ours Wink

It's the chinese money that is keeping the bubble inflated which is exactly what the Government wants Wink

When the FHOG was stopped the chinese money took over Wink

Dudd hedged his bets on the FHOG and chinese money and got what he wanted at the expense of people who have lived here all of their lives Sad

This sort of bullshit wouldn't happen in china simply because the chinese government doesn't want foreigner speculators to create property bubbles. The chinese are a lot smarter than us in a lot of ways !!

But I cannot see any housing bubble continue to be inflated indefinitely. It just never happens anywhere and Australia is no exception Sad

I agree.

An "adjustment" of some sort is definitely round the corner. I personally don't think that it's going to be a big one though.

And here's the thing .. if you've done your homework right ( ie not over-extended yourself by borrowing to the limit; bought POSITION<- NB not many people truly understand what this means unfortunately ) .. you should be able to ride the wave without too many problems.

Here is the post Last Nail.

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If I let myself be bought then I am no longer free.

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Sir lastnail

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Re: 'Worst ever' property dive after disasters
Reply #193 - Mar 6^th, 2011 at 7:02pm

Lisa Jones wrote on Mar 6^th, 2011 at 6:34pm:

yes but what stops the bubble from bursting when there is a credit squeeze and rising interest rates ??

- Last Nail

Nothing. As I stated earlier .. there will be an "adjustment". I don't believe it's going to be anything more than that.

Read back .. I posted about that this afternoon.

why in australia will it be just an adjustment and not a crash ??

what makes australia so different than the rest of the world where property has taken a nose dive ??

and the other thing if it is always just an "adjustment" then why the tripling of the first home buyers grant and changes in the FIRB rules ?? why did they have to do these things if property is such a sure bet here ??

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Lisa Jones

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Re: 'Worst ever' property dive after disasters
Reply #194 - Mar 6^th, 2011 at 7:12pm

why in australia will it be just an adjustment and not a crash ??

- Last Nail

Why? Because the bubble .. whilst there .. isn't THAT big (well not yet in any event).

Having said that .. it's getting pretty stupid now. I mean this is effectively what is now happening more and more (in Sydney): professional couples are marrying in their early 30's and finding themselves co owning ONE house with a 30 yr mortgage of around $1 million.

As if that's not enough .. the house in question isn't anything spectacular either and the position of such a home tends to be in a semi decent area .. nothing spectacular there either.

A recipe for disaster IMO .. esp if/when a little baby comes along and suddenly 1 parent stops working even for a little while.

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If I let myself be bought then I am no longer free.

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