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#1801 | ||
DIY Tragic
Join Date: Apr 2018
Location: Sydney, more than not. I hate it.
Posts: 21,872
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Renovator’s special; their bubble has definitely burst - maybe one for Leesa?
https://www.9news.com.au/national/ho...3-0ed883aed7b5 |
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#1802 | |||
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#1803 | |||
BLUE OVAL INC.
Join Date: Feb 2006
Posts: 8,645
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Quote:
We contacted numerous 'inspectors', the majority never replied, some said they were too busy and a couple spoke of the site supervisor as though they knew him well, it was blatantly obvious that the industry regulates itself at the common mans level and only those with deep pockets can afford to challenge the status quo. The day he took possession of the keys we noted the glass sliding door was completely scratched to buggery, the panel lift door was a completely different profile to the other 7 townhouses in the block and the fence panels at each end of the block we're color bond and not the horizontal slats that the rest of the rear fence is made from. The site supervisor said he'd sort the panel door and sliding door but that the end panels were a safety/privacy thing, i said but every other block has slats on the ends and asked what makes them safer only 50m away, he said thats how it is, i believe they ran out of materials and basically thought **** it, sheets will do. They swapped the roller door for one from a subsequent build and 18mths later despite numerous calls the sliding door is still as was. He's still living in it and smashing the mortgage, combined with the capital gains i figure he'd have a good 60k of equity but has recently changed jobs so he's sitting tight for another 6 months at which point he'll rent it and build or buy established elsewhere. Hopefully the Daughters will be built by then and he can move home in the interim and rent it out. Without asking the question, at a guess it would rent for around $320pw if not more as rentals are very hard to get right now in SA. |
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#1804 | ||
DIY Tragic
Join Date: Apr 2018
Location: Sydney, more than not. I hate it.
Posts: 21,872
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It looks rather like a deflating local currency might effectively re-profile the “bubble”. Not saying it will rupture, more that purchasing power will shift - likely to offshore interests… :-/
WRT to market greed, I’m surprised that agents aren’t yet (?) extorting a surety from people who want to inspect properties. |
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#1805 | ||
Guest
Join Date: Aug 2018
Posts: 1,892
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#1806 | ||
BANNED
Join Date: Jul 2012
Posts: 2,886
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ANZ jacks up interest rates again....fun times are a coming..
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#1807 | ||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,891
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My mortgage broker mate told me a while ago, banks don't follow the RBA, as most people think. RBA tend to react to bank's policies, which may or may not be as obvious as a rate rise.
For me, the warning sign was when banks were actively moving their customers to fixed rates, started about 6 months ago. Have held a mortgage since the early 2000s, and I don't ever recall having my banker call me and urging me to fix my rates pronto, until 6 months ago.
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~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button. ![]() |
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#1808 | ||
Ford screwed the Falcon
Join Date: Sep 2013
Posts: 7,064
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I see a new tactic has recently appeared and is being used by the Real Estate industry. In the past when a sale was made, once the cooling off period had passed the sale price was shown on the websites. In the cases where "price withheld" was displayed, knowing somebody who has REIV or equivalent membership allowed you to see the sold price. Now what they are doing is not publishing the sale price until after settlement date so that the data is up to three months out of date. Shonks.
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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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#1809 | ||
FF.Com.Au Hardcore
Join Date: Sep 2014
Location: A.C.T
Posts: 1,569
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Once rates start to go up(& they will) a lot of people are going to get burnt.Money is cheap @ the moment.All these ‘Mcmansions’ with huge mortgages,people are going to be in for a world of pain.The first things to go?All the ‘toys’ they have purchased from their redraws.This is not going to end well,to many people living way beyond their means.
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2022 Honda HRV e:HEV in Premium crystal red. |
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#1811 | ||
Critical Thinker
Join Date: Jan 2005
Location: Adelaide
Posts: 20,326
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Id be doing that now if I were you. Precious metals will be far more valuable in the coming months and years especially when cashless transactions are taking over in it's fullest form.
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"the greatest trick the devil pulled, is convincing the world he doesn't exist" 2022 Mazda CX5 GTSP Turbo 2018 Hyundai Santa Fe Highlander 1967 XR FALCON 500 Cars previously owned: 2021 Subaru Outback Sport 2018 Subaru XV-S 2012 Subaru Forester X 2007 Subaru Liberty GT 2001 AU2 75th Anniversary Futura 2001 Subaru GX wagon 1991 EB XR8 1977 XC Fairmont 1990 EA S Pak 1984 XE S Pak 1982 ZJ Fairlane 1983 XE Fairmont 1989 EA Falcon 1984 Datsun Bluebird Wagon 1975 Honda Civic |
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#1812 | |||
FF.Com.Au Hardcore
Join Date: Feb 2013
Location: Perth
Posts: 827
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Quote:
I would have thought that was the better way to do it anyway? Until the house settle the deal can fall through rendering the sale void. I'm no housing guru though... |
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#1813 | ||
DIY Tragic
Join Date: Apr 2018
Location: Sydney, more than not. I hate it.
Posts: 21,872
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Another neighbouring house has just been flattened, to make way for a duplex. Vanity reigns; the streets are full of projects by building firms who prefer competing to collaborating.
Absolutely NOTHING was salvaged. Everything was crunched up to go in a semi-trailer tipper. I think this is a self-indoctrination by the contractors, as the demolition is nearly always “showy” - they turn it into a big pile over about three days and then spend longer finishing up - as opposed to unbuilding and salvaging. Every day’s site costs will include having the tipper stand by, an 8+ tonne digger with operator, and usually a Johnny-on-the-spot. Then off-site tipping costs for unsorted demolition waste. So either the operators are confident this boom will continue, or they’re cussedly stupid in not shoring up income with salvage sales, or reducing costs by having a manual demolition first, allowing sorted loads to be tipped. |
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#1814 | |||
Critical Thinker
Join Date: Jan 2005
Location: Adelaide
Posts: 20,326
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https://www.realestate.com.au/news/p...qDsN7I7Ejmj8Cs
Panic rising as major home builders go bust despite a construction boom and soaring house prices Quote:
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"the greatest trick the devil pulled, is convincing the world he doesn't exist" 2022 Mazda CX5 GTSP Turbo 2018 Hyundai Santa Fe Highlander 1967 XR FALCON 500 Cars previously owned: 2021 Subaru Outback Sport 2018 Subaru XV-S 2012 Subaru Forester X 2007 Subaru Liberty GT 2001 AU2 75th Anniversary Futura 2001 Subaru GX wagon 1991 EB XR8 1977 XC Fairmont 1990 EA S Pak 1984 XE S Pak 1982 ZJ Fairlane 1983 XE Fairmont 1989 EA Falcon 1984 Datsun Bluebird Wagon 1975 Honda Civic |
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#1815 | ||
T3/Sprint8
![]() Join Date: Jan 2005
Location: Australia
Posts: 16,359
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From the article posted by blueoval.....
The Briz one is old news as some may know. "Brisbane-based giant Privium and Tasmanian-based Inside Out Construction have gone into voluntary administration, while ABD Group in Melbourne has been put into liquidation." Is it hardly surprising on the above - 2 States considering what we've gone through with lockdowns, Qld shut all out as we know, so where not surprised same goes for Tas. IMO its weeding out companies who have propered living on credit and on the edge, sadly they take down with them the customers/consumer who did business with them. "more than 60% of builders are currently losing money, with many failing to manage their finances properly." The above is rule 101 in business, most of these developers large or small live on borrowed $$$$$'s and beyound their means. Smart ones don't over extend themselves, like the old saying goes, just in case for those rainy days, well covid has been a long suffering rainy day...... Rising costs have been a given last 2yrs on everything.
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Tickfords T3/TS50 '02 Sprint8 manual Sept 24 '16 Daily Macan GTS "Don't believe everything you read on the internet. Abraham Lincoln" |
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#1816 | |||
Critical Thinker
Join Date: Jan 2005
Location: Adelaide
Posts: 20,326
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Quote:
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"the greatest trick the devil pulled, is convincing the world he doesn't exist" 2022 Mazda CX5 GTSP Turbo 2018 Hyundai Santa Fe Highlander 1967 XR FALCON 500 Cars previously owned: 2021 Subaru Outback Sport 2018 Subaru XV-S 2012 Subaru Forester X 2007 Subaru Liberty GT 2001 AU2 75th Anniversary Futura 2001 Subaru GX wagon 1991 EB XR8 1977 XC Fairmont 1990 EA S Pak 1984 XE S Pak 1982 ZJ Fairlane 1983 XE Fairmont 1989 EA Falcon 1984 Datsun Bluebird Wagon 1975 Honda Civic |
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#1817 | |||
Banned
Join Date: Nov 2016
Location: Perth Australia
Posts: 3,618
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Quote:
![]() Did you know that gold is indestructible?....its a fact, hence its value. I owned 4 mining leases here in WA, that was 10 years ago, had to give up prospecting due to failing health. But it's always time to buy the yellow shiny stuff!.. ![]() |
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#1818 | |||
Regular Member
Join Date: Feb 2021
Posts: 68
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Quote:
Yeah not sure if you're joking or not. But returns on gold are not great. To me it's more of an end of days type investment |
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#1819 | ||
DIY Tragic
Join Date: Apr 2018
Location: Sydney, more than not. I hate it.
Posts: 21,872
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There’s way too much front loading of contracts. Far many people not mucking in when they should, and increased reliance on machinery vs manual labour - when the latter can be faster, neater (and hence less wasteful), capture more stages in one exercise. Plus the wastage, as I like to mention.
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#1820 | ||
Critical Thinker
Join Date: Jan 2005
Location: Adelaide
Posts: 20,326
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+1. Im looking to get some for this exact reason.
__________________
"the greatest trick the devil pulled, is convincing the world he doesn't exist" 2022 Mazda CX5 GTSP Turbo 2018 Hyundai Santa Fe Highlander 1967 XR FALCON 500 Cars previously owned: 2021 Subaru Outback Sport 2018 Subaru XV-S 2012 Subaru Forester X 2007 Subaru Liberty GT 2001 AU2 75th Anniversary Futura 2001 Subaru GX wagon 1991 EB XR8 1977 XC Fairmont 1990 EA S Pak 1984 XE S Pak 1982 ZJ Fairlane 1983 XE Fairmont 1989 EA Falcon 1984 Datsun Bluebird Wagon 1975 Honda Civic |
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#1821 | |||
BANNED
Join Date: Jul 2012
Posts: 2,886
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Quote:
After stroking it every night in front of TV missus complained. Sold it back and made 30k in 3months...by accident. But you could easily lose just as much cause I don't think it's a day trader type of commodity. Anyway..don't buy a certificate...its only paper...here is where you buy the actual stuff at a good price....but as all others they love the commision...about 2500 bucks a kilo. http://www.adelaide-exchange.com.au/...rProducts.aspx
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Please press the "Like" button if you enjoy my posts. (It's the red triangle with exclamation mark on the left) |
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#1822 | ||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,891
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Get ready...
Bank of England surprises by lifting interest rates https://www.abc.net.au/news/2021-12-...rpay/100707908
__________________
~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button. ![]() |
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#1824 | ||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,891
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Haha I checked before posting. Scroll down. The daily blog styles are not link friendly.
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~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button. ![]() |
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#1825 | ||
DIY Tragic
Join Date: Apr 2018
Location: Sydney, more than not. I hate it.
Posts: 21,872
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Drawing perhaps a long bow, but commenting frankly on the squeeze against “ordinary” purchasers in regional cities of the Untied States.
https://www.abc.net.au/news/2021-12-...alia/100689184 |
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#1826 | |||
FF.Com.Au Hardcore
Join Date: Jul 2005
Posts: 1,196
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Quote:
I was hoping things with covid would normalize next year and a lot of these ones would move back to the cities but with the way things are going in other countries at the moment I don't think things are going to much better here.
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Had EB XR8 AU XR8 220 (awsome car ) AU Fairmont BA MK2 XR6 Turbo Now XDUB |
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#1827 | ||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,891
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Missed my prediction by a measly 6 months. Will an eventual long term 1 to 2, or even 3% rate rise ***** the bubble?
Reserve Bank opts for standard 25-basis-point interest rate hike as first in likely string of rises https://www.abc.net.au/news/2022-05-...ints/101033156
__________________
~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button. ![]() |
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#1828 | ||
T3/Sprint8
![]() Join Date: Jan 2005
Location: Australia
Posts: 16,359
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The bubble is pretty plentiful for many having been locked down and no OS travels for so long....
Sales in general have been spirited in many sectors - I suppose some will just need to eat a few less smashed avos a month.
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Tickfords T3/TS50 '02 Sprint8 manual Sept 24 '16 Daily Macan GTS "Don't believe everything you read on the internet. Abraham Lincoln" |
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#1829 | ||
Where to next??
Join Date: Oct 2006
Location: Sydney
Posts: 8,893
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I'm casually observing the market and have a whole bunch of properties saved on my short list.
8-9 months ago price changes were + and most properties were selling at auction in a frenzy well above expectations. The last few months have seen a drastic change. Prices are being reduced and many properties are being removed from sale. 8-9 months ago many agents didn't bother returning calls or replying to emails and properties were practically selling themselves. Those same agents are now calling me and introducing me to properties on an almost weekly basis and making it clear the vendors are open to meeting the market. I'm still semi-interested in buying something, however I'll wait till Jan of next year before I get serious. By then, we would have had a few more rate rises and I will get a better gauge of what is happening in the market. I agree that drops of 15-20% in Sydney in certain areas are on the cards. Places are getting listed now at prices that I would have considered a bargain several months ago.
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___________________________ I've been around the world a couple of times or maybe more....... |
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#1830 | |||
FF.Com.Au Hardcore
Join Date: Jun 2013
Location: Adelaide
Posts: 1,601
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Quote:
Incidentally my home loan provider (credit union) called me 2 weeks ago for a loan heath check, and offered straight up to drop my rate by 1.75% to offer a buffer, they are anticipating 5 rises in the next couple of years.
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____________________ 2019 LDV G10 2009 Mitsubishi Express-GONE 2011 Honda Jazz ____________________ |
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