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#601 | ||
FF.Com.Au Hardcore
Join Date: Jul 2010
Location: NSW
Posts: 4,324
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Someone at work was telling me how he took all his super out to buy property and use that as his super.
I know property has always has an overall upward trend, but too bad if it goes through it's usually crash when you are planning to retire, |
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#602 | |||
FF.Com.Au Hardcore
Join Date: Feb 2005
Location: Sth Coast NSW
Posts: 1,512
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Quote:
The traditional save a deposit then try and get a loan isn't cutting it nowadays, so people need to think outside the square. Getting family onboard isn't always 100% risk free, as you can't control what will happen in the future, but the thing is if you want to get ahead in life, you always have to take risks, can't get around that one. |
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#603 | ||
FF.Com.Au Hardcore
Join Date: Jun 2008
Posts: 1,137
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Probably one of the most stupid financial moves one can make. Diversity is the key. High growth super funds have killed property over the last few years.
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#604 | |||
FF.Com.Au Hardcore
Join Date: Oct 2014
Location: Newcastle
Posts: 1,782
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Quote:
I bought a property using my SMSF. Had it for 2 years- has gone up almost 25% in 2 years. Is a small 3 bedroom house on torrens title 3 minute walking track to Lake Macquarie. I bought it at a good price- and the location -I will never loose. This is an investment. But I agree if you hand over your super to a fund manager to invest in speculative real estate like in rural mining towns-that is gambling-not investing.
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Ford Rides: Ford Fiesta ST Mk 8 -daily- closest thing to a go kart on road for under 50K FG X XR8 smoke manual - Miami hand built masterpiece by David Winter, BMC Filter, JLT Oil separators, Street Fighter Intercooler Stage 2, crushed ball, running 15% E85 and 85% 98- weekender Last edited by asagaai; 13-06-2018 at 01:19 AM. |
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#605 | |||
FF.Com.Au Hardcore
Join Date: Apr 2007
Location: Miranda, NSW
Posts: 6,771
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Quote:
After having half my super in a balanced portfolio and the other half in international shares most of my working life I recently moved everything to bonds and fixed interest . Two reasons for that (1) I think the sharemarket will peak soon after 18 months of solid growth and (2) I only plan to work another 5 years and don't want to risk a crash in the interim Property has its place in any portfolio but I choose to have my property investments outside super. There are less rules and restrictions surrounding the how and what of holding property and the investment risk is the same whether it's held in or out of an SMSF. What people need to consider when buying property in an SMSF these days is that the returns/yields are low while capital growth will be flat at best for years to come if you listen to some of the experts which over the past 2 or 3 quarters in certain cities/towns has proven correct . Then on top of that you still have to go through all the negatives of holding the real estate – complaining tenants, damage to property, insurance, owners corporations etc. With all that in the mix I see no real tangible benefit in using super to buy property. If we were talking back in 2014 or 15 then my opinion would be 180 degrees different. Back then we had spiralling rents and the capital growth cycle just starting.
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2005 BA MK2 FPV GT - 6 SPEED MANUAL , SILHOUETTE, SWISSVAX, SUNROOF, BILSTEIN AND LOVELLS, FACTORY GENUINE 19'S, X-FORCE STAINLESS QUAD CATBACK, ADVANCE HEADERS, 200 CPSI CATS, BLUEPOWER CAI, HERROD BREATHER KIT, 4:11 DIFF RATIO, MAL WOOD OPT 3+ CLUTCH, BILLET SHIFTER, MELLINGS 10227, NOW WITH REVERSE CAMERA/SENSORS, ALPINE SPEAKERS & SUB - CUSTOM TUNED TO 275 RWKW NOW WITH A NEW ADDITION - 2017 MUSTANG V8 GT FASTBACK - , 6 SPEED AUTO IN PLATINUM WHITE, |
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#606 | ||
Ford screwed the Falcon
Join Date: Sep 2013
Posts: 7,059
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Wish dave289 was still on AFF to add to this discussion.
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Falcon: 1960 - 2016 My cars Current ride 2016 FG X XR6 - 6 speed manual Previous rides 2009 FG XR6 - 6 speed auto 2006 BF MkII XT ESP - 6 speed auto 2003 BA XT V8 - 5 speed manual 1999 AU Forte - 5 speed manual 1997 EL Fairmont - 4 speed auto 1990 EAII Fairmont Ghia - 4 speed auto |
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#607 | ||
FF.Com.Au Hardcore
Join Date: Apr 2007
Location: Miranda, NSW
Posts: 6,771
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He probably is but under a different name
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2005 BA MK2 FPV GT - 6 SPEED MANUAL , SILHOUETTE, SWISSVAX, SUNROOF, BILSTEIN AND LOVELLS, FACTORY GENUINE 19'S, X-FORCE STAINLESS QUAD CATBACK, ADVANCE HEADERS, 200 CPSI CATS, BLUEPOWER CAI, HERROD BREATHER KIT, 4:11 DIFF RATIO, MAL WOOD OPT 3+ CLUTCH, BILLET SHIFTER, MELLINGS 10227, NOW WITH REVERSE CAMERA/SENSORS, ALPINE SPEAKERS & SUB - CUSTOM TUNED TO 275 RWKW NOW WITH A NEW ADDITION - 2017 MUSTANG V8 GT FASTBACK - , 6 SPEED AUTO IN PLATINUM WHITE, |
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#608 | ||
FF.Com.Au Hardcore
Join Date: Oct 2010
Location: Mid North Coast
Posts: 6,442
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Bought our block for $165K 3 years ago, paid cash for it, so no loan, had the choice of three blocks at the time, one next door and one across the street, we picked the best one of the three blocks, best shape, most level, best aspect, no restrictions, no bush fire zones etc.
At Christmas time block next door sold for $379K, this week block across the road sold for 400K. ![]() Now tell me I am better off paying rent, to pay someone else property off. By the way the first house I bought I paid $179K and sold for 380K a few years later, plus I got to live in it for that time, paying about $250 per week into the loan for a 3 bedroom double garage two bathroom in Sydney ![]() ![]() Next house cost me 420K and sold for 550K a few tears later...wish I had been paying rent all these years. 25 years after buying my first place I am still waiting for the bubble to burst, but all I see is prices going up.
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The Daily Driver : '98 EL Falcon, 5 Speed , 3.45 lsd The Week End Bruiser : FPV BF GT 40th Anniversary, 6 Speed Manual, 6/4 Brembo and lots of Herrod goodies Project 1 : '75 XB GS 351 Ute, Toploader, 9" with 3.5's Project 2 : '74 XB GS Big Block Coupe, Toploader, 9" with 4.11's In Storage : '74 XB GS 351 Fairmont Sedan XB Falcon Owners Group Mike's Man Cave Last edited by XB GS 351 Coupe; 14-06-2018 at 01:38 PM. |
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#609 | ||
Cabover nut
Join Date: Aug 2015
Location: Onsite Eastcoast
Posts: 10,827
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XB, what size are the blocks ?
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heritagestonemason.com/Fordlouisvillerestoration In order that the labour of centuries past may not be in vain during the centuries to come...... D. Diderot 1752
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#610 | ||
FF.Com.Au Hardcore
Join Date: Oct 2010
Location: Mid North Coast
Posts: 6,442
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1 hectare or 2.5 acres or 10,000 square metres, all the same thing.
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The Daily Driver : '98 EL Falcon, 5 Speed , 3.45 lsd The Week End Bruiser : FPV BF GT 40th Anniversary, 6 Speed Manual, 6/4 Brembo and lots of Herrod goodies Project 1 : '75 XB GS 351 Ute, Toploader, 9" with 3.5's Project 2 : '74 XB GS Big Block Coupe, Toploader, 9" with 4.11's In Storage : '74 XB GS 351 Fairmont Sedan XB Falcon Owners Group Mike's Man Cave |
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#611 | |||
Rob
Join Date: Sep 2006
Location: Woodcroft S.A.
Posts: 21,503
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Quote:
you don't seem to be able to grasp that the price of a house has risen at a much steeper rate than wages. the cost of living is also quite a bit higher. For a young person these days to buy a house, it is substantially harder than anyone who bought into the market more than 20 years ago, or even 10 years ago. Some people don't want real estate as some kind of investment. they just want a house to live in and have a family and raise them, like so many other Australians were able to do in years gone by. So much chest beating in here about how 'I was able to so anyone can if they really want it'. and yes, I did buy my house before the prices shot skyward, and I consider myself very fortunate. since buying my first house real estate has probably quadrupled in value yet my wages have risen by about 50%. I would hate to be a young person today looking to buy my first home for the sole purpose of living in it and raising a family. a house in Australia shouldn't be a luxury item. |
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#612 | |||
FF.Com.Au Hardcore
Join Date: Feb 2005
Posts: 5,045
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Quote:
Guess what will happen when rates start moving back up to their long term norm? A bloodbath... but if you priced that in and can afford it regardless, its not an issue. It will however be a huge issue in Sydney and Melbourne. |
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#613 | |||
FF.Com.Au Hardcore
Join Date: Apr 2007
Location: Miranda, NSW
Posts: 6,771
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Quote:
Auckland, the largest city in NZ but with a population the size of Perth and Brisbane has seen prices double in 5 years and even the government there have taken measures to curb foreign investment but the boom continues. Even if you have a million in your pocket that's still not enough to buy any inhabitable house in that city, even in the lower socio economic suburbs.
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2005 BA MK2 FPV GT - 6 SPEED MANUAL , SILHOUETTE, SWISSVAX, SUNROOF, BILSTEIN AND LOVELLS, FACTORY GENUINE 19'S, X-FORCE STAINLESS QUAD CATBACK, ADVANCE HEADERS, 200 CPSI CATS, BLUEPOWER CAI, HERROD BREATHER KIT, 4:11 DIFF RATIO, MAL WOOD OPT 3+ CLUTCH, BILLET SHIFTER, MELLINGS 10227, NOW WITH REVERSE CAMERA/SENSORS, ALPINE SPEAKERS & SUB - CUSTOM TUNED TO 275 RWKW NOW WITH A NEW ADDITION - 2017 MUSTANG V8 GT FASTBACK - , 6 SPEED AUTO IN PLATINUM WHITE, Last edited by GT0132; 14-06-2018 at 02:58 PM. |
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#614 | |||
Cabover nut
Join Date: Aug 2015
Location: Onsite Eastcoast
Posts: 10,827
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Quote:
Doesn't look like a good formula to qualify for a massive home loan to live in the cities. As far as the cities are concerned, a lot of us were very lucky to have long term employment and have the opportunities to purchase land or houses where we wanted to live.
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heritagestonemason.com/Fordlouisvillerestoration In order that the labour of centuries past may not be in vain during the centuries to come...... D. Diderot 1752
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#615 | |||
WT GT
![]() Join Date: Jan 2006
Location: The GSS
Posts: 17,759
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Quote:
Might be some chest-beating from our side but all I'm seeing is "we're doomed, it's pointless, just give up" from the counter position. I'm all ears, really ![]() |
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#616 | ||
Oppressive patriarch
![]() Join Date: Aug 2016
Location: Brisbane
Posts: 733
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What should young people do?
Get practical skills, trade or grey collar. Stay out of debt and dispense with ego preening passport stamps. Avoid pointless degrees and live within your means. Yes, casual and temp work is more prevalent than ever. Yes, excess immigration has created a labour oversupply and stagnant wages. Yes, credit creation and a cgt discount has spawned a massive property bubble. Yes we are regularly top of the pops in the developed world for income to debt ratios. Despite that, this is not the time for boomer/xer self congratulation if you've ridden an asset boom. Nor should millenials spend it all on travel and consumables because 'housing is too expensive'. Myopic defeatism and assumed victim status will get you precisely no-where. There will be opportunities in the future. I cannot tell you where they will be. Nor do i know when to sell to avoid a crash. Nothing lasts forever. But you have to be ready when opportunities arrive. They won't wait for you. Nor will they wait if youre not quite ready, or able to take advantage of them.
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. Lamenting lost Australian manufacturing. Last edited by anobserver; 14-06-2018 at 05:21 PM. Reason: SPELLING |
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#617 | |||
BLUE OVAL INC.
Join Date: Feb 2006
Posts: 8,645
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Quote:
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#618 | ||
FF.Com.Au Hardcore
Join Date: Jul 2009
Location: melbourne
Posts: 4,648
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#619 | ||
FF.Com.Au Hardcore
Join Date: Oct 2010
Location: Mid North Coast
Posts: 6,442
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No I have cars to finish first, no time for a boat but will get around to it when the time is right.
__________________
The Daily Driver : '98 EL Falcon, 5 Speed , 3.45 lsd The Week End Bruiser : FPV BF GT 40th Anniversary, 6 Speed Manual, 6/4 Brembo and lots of Herrod goodies Project 1 : '75 XB GS 351 Ute, Toploader, 9" with 3.5's Project 2 : '74 XB GS Big Block Coupe, Toploader, 9" with 4.11's In Storage : '74 XB GS 351 Fairmont Sedan XB Falcon Owners Group Mike's Man Cave |
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#620 | |||
FF.Com.Au Hardcore
Join Date: Oct 2010
Location: Mid North Coast
Posts: 6,442
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Quote:
I busted my balls to be in the position that I am in, and I had no pay out's inheritances or the like. I started pushing trolleys at Franklins, to doing factory labouring for $200 per week.
__________________
The Daily Driver : '98 EL Falcon, 5 Speed , 3.45 lsd The Week End Bruiser : FPV BF GT 40th Anniversary, 6 Speed Manual, 6/4 Brembo and lots of Herrod goodies Project 1 : '75 XB GS 351 Ute, Toploader, 9" with 3.5's Project 2 : '74 XB GS Big Block Coupe, Toploader, 9" with 4.11's In Storage : '74 XB GS 351 Fairmont Sedan XB Falcon Owners Group Mike's Man Cave |
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#621 | ||
Rob
Join Date: Sep 2006
Location: Woodcroft S.A.
Posts: 21,503
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is this what you tell yourself rather than admit that it is substantially harder now than it ever has been? just tar all the young kids with the same brush?
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#623 | |||
BLUE OVAL INC.
Join Date: Feb 2006
Posts: 8,645
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Quote:
Its always the same excuses, phones, cars, smokes, latte's, alchohol, gambling and drugs, its never the price of the house, the deposit or servicing the loan. |
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#624 | |||||||
WT GT
![]() Join Date: Jan 2006
Location: The GSS
Posts: 17,759
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Quote:
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![]() Yeah. That's pretty much what I thought you'd be able to offer... ![]() |
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#625 | |||
FF.Com.Au Hardcore
Join Date: Apr 2007
Location: Miranda, NSW
Posts: 6,771
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Quote:
__________________
2005 BA MK2 FPV GT - 6 SPEED MANUAL , SILHOUETTE, SWISSVAX, SUNROOF, BILSTEIN AND LOVELLS, FACTORY GENUINE 19'S, X-FORCE STAINLESS QUAD CATBACK, ADVANCE HEADERS, 200 CPSI CATS, BLUEPOWER CAI, HERROD BREATHER KIT, 4:11 DIFF RATIO, MAL WOOD OPT 3+ CLUTCH, BILLET SHIFTER, MELLINGS 10227, NOW WITH REVERSE CAMERA/SENSORS, ALPINE SPEAKERS & SUB - CUSTOM TUNED TO 275 RWKW NOW WITH A NEW ADDITION - 2017 MUSTANG V8 GT FASTBACK - , 6 SPEED AUTO IN PLATINUM WHITE, |
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#626 | ||
Au Falcon = Mr Reliable
Join Date: Sep 2009
Location: North West Slopes & Plains NSW
Posts: 4,076
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Hi guys, here's a interesting link on housing affordability -
https://thenewdaily.com.au/money/fin...ative-gearing/ Tweaking capital gains tax & negative gearing would be a good start in reigning in surging house prices. cheers, Maka
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Ford AU Series Magazine Scans Here - www.fordforums.com.au/photos/index.php?cat=2792 Proud owner of a optioned keeper S1 Tickford Falcon AU XR6 VCT - "it's actually a better-balanced car than the XR8, goes almost as hard and uses about two-thirds of the fuel" (Drive.com 2007) |
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#627 | ||
Donating Member
![]() Join Date: Jun 2007
Location: Checking out soft furnishings....
Posts: 8,682
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Affordability and location also come into this. All you older guys saying it was hard back then as well, of course it was, no one is denying that, but now it is harder than ever, that is fact.
My folks bought a house 31 years ago 15 minutes from Melbourne for (once converted with inflation to match todays price) $220,000. Find me a 3 bedroom house with 2 bathrooms, a double garage and a 600 square block for $220,000. You wont find one. Even for a 3 bedroom townhouse with no backyard is pushing 500-600k 15 minutes from Melbourne. If you want a 3 bedroom house now anywhere near a city you will be travelling 1-2 hours to get to work for something affordable. So please keep telling me hard it was for you back then. |
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#628 | ||
FF.Com.Au Hardcore
Join Date: Feb 2005
Posts: 5,045
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so what?
this isn't a problem for young people to fix. its a policy problem EVERYONE needs to fix, but too many have profited and refuse to see their paper wealth reduce, the pollies especially. we need major CGT and negative gearing reform, but its never going to happen. |
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#630 | |||
FF.Com.Au Hardcore
Join Date: Apr 2007
Location: Miranda, NSW
Posts: 6,771
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Quote:
Fast forward 30 years and that same property would sell for around $1.0M today and the average wage in 2018 is $84,000. The property has increased 6.7 times while wages have increased by only 3.3. From that $84,000 you need to put enough away to save a 20% deposit , or $200,000 . After tax on $84,000 you're left with about $65,000 so even if you spent none of that it would take you 3 years to save the deposit.. Then having saved the deposit you need to sign your life away to borrow $800,000 which is probably not achievable on a $84k income.
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2005 BA MK2 FPV GT - 6 SPEED MANUAL , SILHOUETTE, SWISSVAX, SUNROOF, BILSTEIN AND LOVELLS, FACTORY GENUINE 19'S, X-FORCE STAINLESS QUAD CATBACK, ADVANCE HEADERS, 200 CPSI CATS, BLUEPOWER CAI, HERROD BREATHER KIT, 4:11 DIFF RATIO, MAL WOOD OPT 3+ CLUTCH, BILLET SHIFTER, MELLINGS 10227, NOW WITH REVERSE CAMERA/SENSORS, ALPINE SPEAKERS & SUB - CUSTOM TUNED TO 275 RWKW NOW WITH A NEW ADDITION - 2017 MUSTANG V8 GT FASTBACK - , 6 SPEED AUTO IN PLATINUM WHITE, |
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