Fiscal Meltdown

[Matabele]

I had to chortle at Turnbull's comment at "the Rudd government missing the boat and continuing to increase interest rates."

Weren't the Liberals adamant interest rates were the domain of the Reserve Bank?

 

[Canteen Worker]

Haven't rates gone down since the last election???

 

[Matabele]

They went up first.

 

[Nutzcraw]

I'm looking at buying mid 2010.

I'm banking on the grant hopefully still being around and interest rates dropping a little more. But, as DVS said house prices will be going up but I'm probably going to look at building then living in it for a while then renting it out.

 

[Fluffy]

i bought almost a year ago now and have a decent debt.

I didnt do what all the other idiots did and am sitting comfortably up about 10K so far on the loan and with about 50K of equity up my sleave.

and now the other half also has a second job we will be swimming in it.

i guess im Gen WTF

 

[The Gronk]

We have paid off three years worth of our loan in the one year we have had it. 

I just asked my mum though and it turns out that yes I was born in 1980, making me from Gen Y. 

Surely there must have been an error on my birth certificate as I know from here that this kind of behaviour is impossible for my generation. 

 

[Matabele]

You're close enough to be contaminated.

 

[Fro]

but not old enough to be irretrevably jaded like some born in the early 70s

 

[Canteen Worker]

Just leave those oldies born in the 60s out of this simplified classification!! 🙂

 

[Fro]

I'm right there with you CW, I'm December 68

 

[Matabele]

You old boys born before the Summer of love.  Shucks.  How does it feel that your parents fulfilled their obligation to society?

 

[Fro]

Your the one telling the story Matas.

 

[Matabele]

You don't have a comeback to that one Fro?  That'd be a first. 

 

[Matabele]

At this point I should confess I was born 15 years after my previous sibling, and exactly 9 months after the media decalred that the pill may be carconogenic. 

 

[Fro]

Sorry missed this the other day.

Plenty of comebacks Matas, I just prefer to stop knocking my head against a brick wall.

Its one thing to profess to have all the answers but you think you have all the questions as well.

I know a fishing expedition when I see it, but even I tire of nibbling after a while 🙂

 

[Utility Player]

I'm looking at buying mid 2010.

I'm banking on the grant hopefully still being around and interest rates dropping a little more. But, as DVS said house prices will be going up but I'm probably going to look at building then living in it for a while then renting it out.

Sounds good Nutz as they say house prices will drop by between 20 to 40 % over the next few years.

 

[Dan]

[quote author=Nutzcraw link=topic=178793.msg201416#msg201416 date=1224147523]
I'm looking at buying mid 2010.

I'm banking on the grant hopefully still being around and interest rates dropping a little more. But, as DVS said house prices will be going up but I'm probably going to look at building then living in it for a while then renting it out.

Sounds good Nutz as they say house prices will drop by between 20 to 40 % over the next few years.
[/quote]

Interest rates will go up though.

If you own investment property, jack the price up a little to line up with first home buyers grant and make a little extra.

Property market has cooled a bit up here, still glad I bought when I did though, as the quality of houses on the market now are no where near as good!

Saw some beach front land for sale up here 1200m block, $135,000 for quick sale. Am almost tempted to speak to the bank about that one

 

[ManlyBacker]

Not good news for those already in the market, but I do think a drop in house prices is almost a certainty - by how much in Australia is unknown. I was reading in the papers about two weeks ago where an exclusive golf course estate (in Florida from memory) opened two years ago with prices for houses at around $2.3M and golf membership of something like $300,000. Today the houses are selling (if they are selling) for about $550,000 and the golf membership for 100,000. It shows that when things go really bad, they can go really, really sour.

 

[Dan]

I am looking to be in my house for another 5 - 10 years at the very least, in that time I would say prices should be on the climb again. should have equity in the house again by that stage too. Either way, I guess I will just stay put in this house for as long as possible through the doom and gloom coming up

 

[Fluffy]

property should always be a long term investment with stamp duty and capital gains etc.

The plan for us is to get this place to at least even gearing before moving on to something bigger and better.