Vic Wasteland Thread - 15.0

[UNR33L]

Toyota Yarris or CX5 from the mrs or parents

Or R33 GTR if grant hires his out 

Edited October 26, 2017 by UNR33L

[Count Grantleyish]

4 hours ago, Leroy Peterson said:

im not swapping anything. im selling the car.

LS swap it regardless.

[Count Grantleyish]

40 minutes ago, UNR33L said:

Or R33 GTR if grant hires his out 

No, no, no, no, no, no, no, no, no, no.

No hiring out for you.

[TiTAN]

No, no, no, no, no, no, no, no, no, no.
No hiring out for you.

[Count Grantleyish]

Exactly!

[dezz]

Sw1 88e-esque

[UNR33L]

Why not just invest in property so you make some money 

[Leroy Peterson]

Becoz debt

[UNR33L]

but net wurf.

[Leroy Peterson]

But bank owns the house.

People think rent is dead money.... Ummm no interest is wasted money.

 

 

[joeyjoejoejuniorshabadoo]

But bank owns the house.
People think rent is dead money.... Ummm no interest is wasted money.
 
 

Which is offset by capital appreciation

[TiTAN]

 

Which is offset by capital appreciation

 

But it has to appreciate to double its original value to cover the interest assuming you are just paying the minimum monthly with principal and interest.

[UNR33L]

9 minutes ago, TiTAN said:

 

But it has to appreciate to double its original value to cover the interest assuming you are just paying the minimum monthly with principal and interest.

As in over the 25/30 year loan period? historically haven't they been doubling every 10 years anyway?

[TiTAN]

You can only double every 10 years for so long until it's completely unaffordable for 90% of the market.

If all the places that are currently asking 1 million are suddenly asking 2 million you are looking at 10k a month for the repayments and a 200k deposit.

[UNR33L]

1 hour ago, TiTAN said:

You can only double every 10 years for so long until it's completely unaffordable for 90% of the market.

If all the places that are currently asking 1 million are suddenly asking 2 million you are looking at 10k a month for the repayments and a 200k deposit.

I thought this was VWL, 200k is pocket money m8 

Seriously though, yeah I see what you're saying has to stop somewhere but we keep hearing that for how long now? Do people need to wait 10? 20? 30 years for this crash then another 5 for it to become affordable to them? 

[Birds]

4 hours ago, UNR33L said:

Why not just invest in property so you make some money 

dezz likes f**king over other shareholders by investing his curse in their stock

[Birds]

1 hour ago, TiTAN said:

You can only double every 10 years for so long until it's completely unaffordable for 90% of the market.

If all the places that are currently asking 1 million are suddenly asking 2 million you are looking at 10k a month for the repayments and a 200k deposit.

The 10% of the market who could afford in that scenario are pretty much the ones who have been driving it up in the first place. They have disproportionately expansive wealth compared to the rest. I agree it will slow down eventually, but for other variables, like a downtrend in foreign investment. I think majority market affordability will have little to do with it, without government intervention.

Also the more Melbourne sprawls, the more inner suburban properties will push up by virtue of comparison. I think it's gonna take a recession or a serious drop off in the rentals market to stop this train.

[Birds]

As for rentals, there's good reasons to rent, but don't fool yourself into thinking it's financially better over the long term than paying a mortgage, unless your interest is more than a month's rent for the same kind of place (unlikely). You might waste a lot of money on interest but you end up with an asset or at least a redeemable share in an asset.

Disclaimer: everyone's situation is different. Consult your product disclosure statement. Past performance is not a reliable indicator of future performance.

[joeyjoejoejuniorshabadoo]

 
But it has to appreciate to double its original value to cover the interest assuming you are just paying the minimum monthly with principal and interest.

Find me a property that hasn't doubled in the last 30 years.... I'll wait here

[TiTAN]

Thats properly quick.