Is anyone buying now?!

[locko24]

I have told myself no more buying this year ,but as I look around and start to see the bargains and one doesn't have to look far to find them.

Some properties in semi rural have halved in price

I could be tempted

But I wouldn't over commit myself at this time.

Hi pa1nter.
50% off? Are these mining properties? Can you post a link of an example?

 

[lizzie]

looking, but waiting for the right product at the right price at the right returns in the right area to come along ... i am sure one or more will arrive by the end of the year.

 

[Player]

Pretty much even stephen's across all categories to current post...... looking like an (ab)normal distribution

 

[Canberra Milk]

Pretty much even stephen's across all categories to current post...... looking like an (ab)normal distribution

Considering this is a forum primarily for property buyers, and the last option is largely a "no", I'd read it as being a bit skewed against buying.

But it's good to see a lot of people still looking to buy.

 

[Sunfish]

Considering this is a forum primarily for property buyers, and the last option is largely a "no", I'd read it as being a bit skewed against buying.

But it's good to see a lot of people still looking to buy.

Another example of two people looking at something but "seeing" different things. I came to the conclusion that two thirds of respondents are still in the market, which I thought was quite high in this climate.

 

[Player]

Even on non-quantitative reflection the outcomes are not skewed against buying, quite the contrary. My "even stephen's" remark was more an observation based on the three individual categories, not their interpretation.

The categories (obviously qualitative) are skewed that way anyway. One a pure Yes, one a pure No and one a not too hot and not too cold type of outcome (leans toward Yes)........hence an abnormal distribution which is to be expected to have some bias anyway as the responses are not evenly weighted even on descriptive/qualitative grounds and this is a property forum.

 

[Sunfish]

Even on non-quantitative reflection the outcomes are not skewed against buying, quite the contrary. My "even stephen's" remark was more an observation based on the three individual categories, not their interpretation.

The categories (obviously qualitative) are skewed that way anyway. One a pure Yes, one a pure No and one a not too hot and not too cold type of outcome (leans toward Yes)........hence an abnormal distribution which is to be expected to have some bias anyway as the responses are not evenly weighted even on descriptive/qualitative grounds and this is a property forum.

Could you rephrase that please?

 

[Player]

Basically there is no weighting or numerical meaning to the categories. Near identical number of responses from the entire cohort who voted, even though the categories aren't even in meaning........hence more slanted to buying by the choices available.

Yes
Maybe
No

.............might have been more meaningful, or a few other intermediate categories or descriptions to allow for a greater range of responses

As indicated I am both a seller in this market and a (potential) buyer for the right thing, but not just any old thing.

 

[Nikolina]

Are you talking about Western Sydney?
I was thinking of doing the same but changed my mind and will be buying now.

Considering the state of world economies and the low shopping activity which is likely to get worse as electricity, rents and other costs are going up, it will probably take 12 months for interest rates to start going up and another 6-12 months for the pain to show up in property prices so it could take 2 years before prices come down.

Thats IF they come down at all, because demand will continue due to the housing shortage and the relatively low interest rates and I don't see many loan defaults because the lending criteria are stricter these days.

BV,

Im talking about Sydney in general even if it does take up to another 24 months before we start to see the effects of increased interest rates, i'm choosing to wait. I believe rates will increase and the market will suffer but that just my opinion. I will just keep on saving up in the meantime.

Nika

 

[Belbo]

I'll buy anything what-so-damn-ever (can I say that?) what's offering a yeild over 10% right now, if any bank will just come to the party and stop asking stoopid questions about serviceability (on 10+ friggin'percent yeild?) and genuine freaking savings (what are you interring?), and just gimme the money!!!

Oh, and they're out there. And I mean, way out there, like in the mining sticks. Chunky 10+% yielders all over the place! But I've got this theory, see, that half the world's population aren't planning on staying peasants much longer, and if their gubberments don't do something about it they're just gonna do something about it for themselves.

So they - being the up and coming wannabe middle-class former peasants - will be wanting our mining output to quintuple or whatever over the next generation at a minimum, and that means houses in our mining centres will be in constantly high demand for a very good while yet.

Simplistic? Okay, yeah! In fact, it's so darned simple I'm privately calling it a 'mining boom'. (But keep that under your hat, aw'right? You never knows who's listening!)

 

[lizzie]

... a yeild over ... percent yeild?

I before E except after C

 

[wisty]

Tell that to the Americans who have lost
50%+ in Vegas with no end in site for cg and ask them if it's the stupedist thing they've ever heard

Well, they *weren't* buying for yield. They were buying cashflow negative, hoping that the CG would make up for their losses.

 

[pieman]

No they were buying cf neutral because there was a "housing shortage" and houseing always goes up

 

[RumpledElf]

Will start a new subdivide-and-build IF and only if we by some miraculous fluke manage to sell our current house if we ever get a date for our new house being finished.

Otherwise, no. Just going to sit and pay stuff off.

 

[lizzie]

No they were buying cf neutral because there was a "housing shortage" and houseing always goes up

so, was the rent they were receiving covering all costs (interest, management, rates etc)? that is cashflow neutral.

buying in the hope that property "always goes up" is nothing to do with cashflow.

 

[Piston Broke]

10% yield is no good if you lose 30% in capital and then have no growth

Yup, that's why I'm "interested" but not necessarily buying.
At under 2% I'm interested in selling.
I'm always "in the market".

Tell that to the Americans who have lost
50%+ in Vegas with no end in site for cg and ask them if it's the stupedist thing they've ever heard

I know a few people out there and it's like a financial tsunami that wiped out many trillions off values.
Will it happen here? Never can rule it out as govs will act the same way as they did there.

 

[Belbo]

I before E except after C

Hey, I got it right the 3rd time!

 

[Ridin-High]

I know there are similar threads to this already, but they're theoretical and I'm more interested in knowing who's actually out there hunting at the moment.

Me personally, I am a FHB and looking to get something in the next 2-3 months.

Personally i'm not looking at the moment, but thats because i'm putting money into another asset class. A few people at my work have been purchasing places recently (PPOR's)... some selling and relocating, some renting and recently purchased, some moving from family members places and buying.

Regards,

RH

 

[Sunfish]

so, was the rent they were receiving covering all costs (interest, management, rates etc)? that is cashflow neutral.

I THINK the original poster was talking about CF neutral in the US. Using this definition even, Yanks don't want to be out of pocket.

I don't know the answer, but is there another country where property owners are crazy enough to believe losing money for YEARS is a good investment?

 

[Mick C]

Just bought one a few month ago
$1.5 M @ auction
It was more expensive then expected ( so much for a buyers market)....


Regards
Michael