Australian Politics Forum - Australian House Prices, Most Overvalued In World.

Lisa Jones

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Re: Australian House Prices, Most Overvalued In World.
Reply #105 - May 22^nd, 2011 at 2:00pm

Bobby. wrote on May 22^nd, 2011 at 1:52pm:

Hi Lisa,
I know someone who didn't sell their appartment on the Gold Coast
because the price went down by 40%.
They are stuck with it until the prices go up - one day!

I never buy apartments or townhouses. Why? I'm not into buying air space. Also you'll never make real money out of real estate unless you buy dirt ie land. And .. you will never make real money out of real estate by buying someone else's development.

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Bobby.

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Re: Australian House Prices, Most Overvalued In World.
Reply #106 - May 22^nd, 2011 at 2:07pm

Lisa Jones wrote on May 22^nd, 2011 at 2:00pm:

Bobby. wrote on May 22^nd, 2011 at 1:52pm:

Hi Lisa,
I know someone who didn't sell their appartment on the Gold Coast
because the price went down by 40%.
They are stuck with it until the prices go up - one day!

I never buy apartments or town houses. Why? I'm not into buying air space .. you'll never make real money out of real estate unless you buy dirt ie land. Also .. you will never make real money by buying someone else's development.

Hi Lisa,
Not everyone is in such a good financial position to do that.
They have to be content with: a unit, apartment or townhouse.
Also many separate houses on a good area of land have to be demolished
& the funds found to build a new home = more money.
Why?
Many houses on good land are rotten old dumps full of borer.

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Lisa Jones

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Re: Australian House Prices, Most Overvalued In World.
Reply #107 - May 22^nd, 2011 at 2:08pm

Sir lastnail wrote on May 22^nd, 2011 at 1:27pm:

You remind me of someone who held blue chip shares before the dot com crash. Those shares were totally unrelated to the internet but when the dot com crash came those so called 'safe' blue chip shares took a big hit as well. In total disbelief he kept hanging on to them and enduring more losses thinking that they would recover to their pre crash levels. Guess what ?? They didn't Wink

The moral of the story is don't be the last one to exit the door because you can always buy again later Wink

Shares and real estate are 2 VERY DIFFERENT markets. That is the moral of the story.

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

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)

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Sir lastnail

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Re: Australian House Prices, Most Overvalued In World.
Reply #108 - May 22^nd, 2011 at 2:09pm

Bobby. wrote on May 22^nd, 2011 at 1:52pm:

Lisa Jones wrote on May 22^nd, 2011 at 1:49pm:

Ex Dame Pansi wrote on May 22^nd, 2011 at 6:48am:

Lisa <<Some people don't understand the meaning of POSITION when it comes to real estate. >>
..............................................................

The people who bought on millionaires row/canal front on the gold coast didn't that's for sure. The prices have plummeted....you can't go wrong buying in that location said the real estate spruikers.

Did quality real estate in Ireland and America miss out on the property crash Lisa? I suppose you'll say they still made profits.

My expertise/experience/knowledge etc pertains to the Sydney domestic real estate market. It's a good market and a big market and one can do very well if they play their cards right ie they buy position.

I'm not prepared to comment about other real estate markets.

Hi Lisa,
I know someone who didn't sell their appartment on the Gold Coast
because the price went down by 40%.
They are stuck with it until the prices go up - one day!

yes but we are always told by the spruikers that real estate prices in Australia increase or plateau but never go down. Now they tell us that rule only applies to certain properties only

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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Lisa Jones

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Re: Australian House Prices, Most Overvalued In World.
Reply #109 - May 22^nd, 2011 at 2:13pm

Bobby. wrote on May 22^nd, 2011 at 2:07pm:

Many houses on good land are rotten old dumps full of borer.

These are the houses which will make you REAL money. Pity people can't see beyond the here and now.

As a matter of fact I am presently looking at such cottages in Bowral and Kiama. I don't care about what's on the land .. I'm looking at the type and position of the land itself. I intend to develop the property myself and make a profit if/when I decide to sell.

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

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)

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Bobby.

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Re: Australian House Prices, Most Overvalued In World.
Reply #110 - May 22^nd, 2011 at 2:15pm

Lisa Jones wrote on May 22^nd, 2011 at 2:13pm:

Bobby. wrote on May 22^nd, 2011 at 2:07pm:

Many houses on good land are rotten old dumps full of borer.

These are the houses which will make you REAL money. Pity people can't see beyond the here and now.

As a matter of fact I am presently looking at such cottages in Bowral and Kiama. I don't care about what's on the land .. just looking at the type and position of the land itself. I intend to develop the property myself and make a profit if/when I decide to sell.

Wow Lisa,
You must be rolling in money.

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Lisa Jones Gold Member Offline Australian Politics Posts: 39047 Sydney Gender:	Re: Australian House Prices, Most Overvalued In World. Reply #111 - May 22^nd, 2011 at 2:20pm Bobby .. many people make money by MOVING it. Those who are scared to MOVE will stagnate and make nothing.
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Bobby. Gold Member Offline Australian Politics Posts: 120546 Melbourne Gender:	Re: Australian House Prices, Most Overvalued In World. Reply #112 - May 22^nd, 2011 at 2:26pm Lisa Jones wrote on May 22^nd, 2011 at 2:20pm: Bobby .. many people make money by MOVING it. Those who are scared to MOVE will stagnate and make nothing. That's me - too scared or too wise?
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Sir lastnail

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Re: Australian House Prices, Most Overvalued In World.
Reply #113 - May 22^nd, 2011 at 2:27pm

Lisa Jones wrote on May 22^nd, 2011 at 2:08pm:

Sir lastnail wrote on May 22^nd, 2011 at 1:27pm:

You remind me of someone who held blue chip shares before the dot com crash. Those shares were totally unrelated to the internet but when the dot com crash came those so called 'safe' blue chip shares took a big hit as well. In total disbelief he kept hanging on to them and enduring more losses thinking that they would recover to their pre crash levels. Guess what ?? They didn't Wink

The moral of the story is don't be the last one to exit the door because you can always buy again later Wink

Shares and real estate are 2 VERY DIFFERENT markets. That is the moral of the story.

yes different markets, but the human behaviour towards them is the same. Fear and greed play and equal part of the property market just as it does for the share market. You can't discount human behaviour no matter what markets you are dealing with. The herd mentality is a prime evil instinct Wink

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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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Lisa Jones Gold Member Offline Australian Politics Posts: 39047 Sydney Gender:	Re: Australian House Prices, Most Overvalued In World. Reply #114 - May 22^nd, 2011 at 2:29pm Bobby. wrote on May 22^nd, 2011 at 2:26pm: Lisa Jones wrote on May 22^nd, 2011 at 2:20pm: Bobby .. many people make money by MOVING it. Those who are scared to MOVE will stagnate and make nothing. That's me - too scared or too wise? Too scared IMO.
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Lisa Jones

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Re: Australian House Prices, Most Overvalued In World.
Reply #115 - May 22^nd, 2011 at 2:35pm

Sir lastnail wrote on May 22^nd, 2011 at 2:27pm:

Lisa Jones wrote on May 22^nd, 2011 at 2:08pm:

Sir lastnail wrote on May 22^nd, 2011 at 1:27pm:

You remind me of someone who held blue chip shares before the dot com crash. Those shares were totally unrelated to the internet but when the dot com crash came those so called 'safe' blue chip shares took a big hit as well. In total disbelief he kept hanging on to them and enduring more losses thinking that they would recover to their pre crash levels. Guess what ?? They didn't Wink

The moral of the story is don't be the last one to exit the door because you can always buy again later Wink

Shares and real estate are 2 VERY DIFFERENT markets. That is the moral of the story.

yes different markets, but the human behaviour towards them is the same. Fear and greed play and equal part of the property market just as it does for the share market. You can't discount human behaviour no matter what markets you are dealing with. The herd mentality is a prime evil instinct Wink

You're wasting all your energy in philosophising .. and it's not going to get you anywhere.

Be smart .. use that same energy to work out what YOU can do to better your financial position by investing those hard earned after tax dollars.

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

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)

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Sir lastnail

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Re: Australian House Prices, Most Overvalued In World.
Reply #116 - May 22^nd, 2011 at 2:56pm

Lisa Jones wrote on May 22^nd, 2011 at 2:35pm:

Sir lastnail wrote on May 22^nd, 2011 at 2:27pm:

Lisa Jones wrote on May 22^nd, 2011 at 2:08pm:

Sir lastnail wrote on May 22^nd, 2011 at 1:27pm:

You remind me of someone who held blue chip shares before the dot com crash. Those shares were totally unrelated to the internet but when the dot com crash came those so called 'safe' blue chip shares took a big hit as well. In total disbelief he kept hanging on to them and enduring more losses thinking that they would recover to their pre crash levels. Guess what ?? They didn't Wink

The moral of the story is don't be the last one to exit the door because you can always buy again later Wink

Shares and real estate are 2 VERY DIFFERENT markets. That is the moral of the story.

yes different markets, but the human behaviour towards them is the same. Fear and greed play and equal part of the property market just as it does for the share market. You can't discount human behaviour no matter what markets you are dealing with. The herd mentality is a prime evil instinct Wink

You're wasting all your energy in philosophising .. and it's not going to get you anywhere.

Be smart .. use that same energy to work out what YOU can do to better your financial position by investing those hard earned after tax dollars.

you're dreaming Lisa. The government handouts have run their course and now that there are no more government intervention to keep a floor under house prices the astute investors are running for the exit Wink

Don't be last man standing Wink

It just so reminiscent of the blue chip shares that you can't possibly lose on. Different markets too but nothing was safe in the end Wink

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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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Ex Dame Pansi

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Re: Australian House Prices, Most Overvalued In World.
Reply #117 - May 22^nd, 2011 at 4:03pm

Lisa <<I intend to develop the property myself and make a profit if/when I decide to sell.>.
.....................................................

You must plan on living for a looooooooong time. It's over Lisa, dead and buried. There is no more making money from buying and selling houses.

That's not very nice of you to entice people to buy property on the eve of a property crash. You spruikers have no shame, and to call yourself Christian huh!

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"When the power of love overcomes the love of power, the world will know peace." Hendrix
andrei said: Great isn't it? Seeing boatloads of what is nothing more than human garbage turn up.....

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Lisa Jones Gold Member Offline Australian Politics Posts: 39047 Sydney Gender:	Re: Australian House Prices, Most Overvalued In World. Reply #118 - May 22^nd, 2011 at 4:14pm Some people just don't get it. Ahh well. That's life.
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Sir lastnail

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Re: Australian House Prices, Most Overvalued In World.
Reply #119 - May 22^nd, 2011 at 5:02pm

Lisa Jones wrote on May 22^nd, 2011 at 4:14pm:

Some people just don't get it. Ahh well. That's life.

Lisa if you want to treat property as a commodity then expect it to behave like a commodity with normal market forces at play. It's simple supply and demand economics. The supply goes up and demand goes down then so does the price Wink

Just because you want 2 million for something that is only worth 500K doesn't mean someone is going to pay you what you want. You may as well say it is worth 10 million !! but if there are no fools to pay what you want then it's only worth what the bigger fool is willing to pay you Wink

This nonsense about property being different than the share market is just wishful thinking. If you strip away government handouts and tax concessions for property there is no difference except for the time it takes to do a transaction which is a lot quicker on the share market because there is less red tape. Otherwise both markets share the same boom and bust cycle behaviour Wink

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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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