might have to come out of my early retirement, start work again and stop travelling aus. 4 investment houses are good, but the mortgages might make the bank nervous if the value of those properties drops too far.
Printable View
might have to come out of my early retirement, start work again and stop travelling aus. 4 investment houses are good, but the mortgages might make the bank nervous if the value of those properties drops too far.
Personally, i'm just trying to keep a positive outlook, Govt's around the world are pouring Trillions into the stock market, banking system etc, eventually this will pull the markets back surely, bearing in mind that the whole stockmarket system is run by greed and greed alone ( bit of a hypocrite here as i'm looking at taking my company public in two years! ), then no one is to blame but the market forces themselves...that's us, sure there are ***** who have played the system and got the rest of us into this mess, but we all wanted higher house prices, lower consumer goods prices, higher savings interest rates, lower mortgage interest rates....and on an on.
Thing is, my company is stable, good positive cash flow, no money owed to anyone with good forward work, my issue is that i import 4 x 20ft containers of goods every two months...thats' gonna hurt shortly....., where it will affect me is staff, they'll be the first to feel it as they'll go first unfortunately, that worries me more...but i think we'll be fine, read in the paper that on average world stock markets have fallen to where they were 5 years ago....no one was complaining then so it can't be all bad!!
It will delay the paying off of my house and inturn the purchase of a Supercharged Rangie:(
But that is all:cool:
SHOULD,and I say should be ok.
Liquidised all of my assets (bar one investment house) a few months ago to finance the family home. Huge mortage now, near 1/2 mil, but because of the cash we put in, still some hundreds of thousands ahead. So even with a crash of property prices we should be ok.
Govt job (Soldier) so ok there too. Someone mentioned 'bullets and bottled water', this worries me more....Labor govt have a tendancy to use the ADF as civil police, strike busters or chain gang labour. Well they did during Whitlam, Hawke and Keatings days. Luckily we're on 1200m2 and have a mango tree so should be ok.
Cheers
Ralph
:eek::eek::eek::eek::eek::eek::eek::eek::eek::eek: :eek::eek:Quote:
Originally Posted by Ralph1Malph
doesnt change much for me still lookin to buy a place atm in the 250 to 300k area
1/2 mill doesnt buy too much anymore:(Quote:
Originally Posted by rovercare
Wouldnt mind a good mango tree :)
I'v got 3/4 acre,dont know how many meters squ. it is ,mainly bush.
With the downturn coming,may have to clear it,and plant some trees,get some chooks & a vege garden.
Umm,& get the water tank i was gonna get to water them.
i wonder if you had spare cash to go invest in something thats dropped right out and sit it out till it goes back up again??
Half that would buy my house on 6 acres, that amount would have you on50-100 acres with a nice dwelling here, or a mansion on 5ish acresQuote:
Originally Posted by scarry
I know the price of property here is rediculous,read somewhere the average price in Brisbane for a house is 450k:eek:Quote:
Originally Posted by rovercare
If you saw Rudd on at the end of 60 minutes tonight,he recons property prices will drop & unemployment will rise,so suppose we have to wait & see.
The only good news is he has guarranteed our money in the bank,only for the next 3 years.