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  1. #1351
    CCBW JPPR2's Avatar
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    Quote Originally Posted by AntRobertson View Post
    I think the market is artificially high and the real effects of the recession yet to hit so I'm getting the fuck out while the getting is good.
    Quote Originally Posted by kmart View Post
    There will be massive unemployment this year-end, and people unable to meet mortgage payments.
    Same scenario in the states. A few of my finance colleagues feel there could be another banking housing bust coming up. People will soon start to default on their loans and we will live it all again. I know a few friends that were displaced and lost jobs and have stopped making their mortgage payment. They have said the bank is working with them. Some are pulling cash out of their 401K's and IRA's to sustain themselves. De Ja Vu..........

    Interesting note, The US gov announced that they are allowing people to access their retirement accts and not be penalized the 10% penalty for early withdrawal. On the surface it all seemed like a nice way to assist. Of course then comes the fine print that you have to put it all back within 3 years or suffer not only that 10% penalty but compounded thereafter. What this tells me is the govt doesn't really care or want to help. They allow access to your money but back end you later. Those people who take out cash will be under water for quite sometime. Putting it back within 3 years is not likely, so they will suffer again. When I first saw the info sent to me by my IRA holder I thought, "Perfect. I will pull out the max allowable in cash and not be penalized and put in my bank as liquid". Of course the fine print nixed that idea.

  2. #1352
    Thailand Expat AntRobertson's Avatar
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    Quote Originally Posted by JPPR2
    A few of my finance colleagues feel there could be another banking housing bust coming up
    Hate to say it because it makes me feel a bit grubby just thinking it, but that's when I'll be looking to get back in again.

  3. #1353
    Cenosillicaphobiac
    Plan B's Avatar
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    Economists in NZ are saying wait till September for cheaper house prices.
    Real Estate agents in NZ are saying the market is as strong as ever and prices will keep increasing.


    If there's two people you can't trust, it's Real Estate agents and Economists.

  4. #1354
    Its all gleaming

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    I think politicians, lawyers and financial advisers will feel left out

  5. #1355
    Thailand Expat AntRobertson's Avatar
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    ^^I don't disagree at all however since the Real Estate agents have the most to gain right now I trust them slightly less.

  6. #1356
    Thailand Expat tomcat's Avatar
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    Quote Originally Posted by AntRobertson View Post
    Hate to say it because it makes me feel a bit grubby just thinking it, but that's when I'll be looking to get back in again.
    ...smart investors jump in when there's blood in the streets...the herd chooses mutual funds...

  7. #1357
    disturbance in the Turnip baldrick's Avatar
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    Wheelcoin?

  8. #1358
    Thailand Expat AntRobertson's Avatar
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    I'm finding wheel coin difficult to invest in lately.

    Hard to find the right offset, diameter and stud pattern.

  9. #1359
    CCBW JPPR2's Avatar
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    Quote Originally Posted by AntRobertson View Post
    Hate to say it because it makes me feel a bit grubby just thinking it, but that's when I'll be looking to get back in again.
    You are not alone. While I have no interest in housing opportunities in the US, I am definitely watching the stock market in certain segments.

  10. #1360
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    Quote Originally Posted by AntRobertson View Post
    ^^I don't disagree at all however since the Real Estate agents have the most to gain right now I trust them slightly less.
    Best IMO is Tony Alexander. One of the best after dinner speakers that I have heard.

    Here is his web site.

    Tony's Thoughts

  11. #1361
    Hansum Man! panama hat's Avatar
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    Quote Originally Posted by Plan B View Post
    If there's two people you can't trust, it's Real Estate agents and Economists.
    OI! I resent that . . . and I'm not a real estate agent.



    Quote Originally Posted by AntRobertson View Post
    Hate to say it because it makes me feel a bit grubby just thinking it, but that's when I'll be looking to get back in again.
    Yup, same here. A perfect time to add to the r/e portfolio, buy then rent to Housing NZ or another NGO - guaranteed income and refurbishing after five years

  12. #1362
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    Quote Originally Posted by AntRobertson View Post
    I think the market is artificially high and the real effects of the recession yet to hit so I'm getting the fuck out while the getting is good.
    I did the same in '06. Sold my home and got 150% ROI for a 3 yr investment. Bought again in 2012 at the low, now sitting well. Luck and timing in both cases. Another downturn and I'll buy again, maybe start my own personal "rental empire" as a retirement offset.

  13. #1363
    Its all gleaming

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    Quote Originally Posted by Agent_Smith View Post
    Luck and timing
    and money...seems thats the same problem Leo has with Boomers, bloke reeks of hypocrite.

    Morning Leo

  14. #1364
    Thailand Expat AntRobertson's Avatar
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    Quote Originally Posted by Agent_Smith
    I did the same in '06. Sold my home and got 150% ROI for a 3 yr investment
    Crikey that's definitely not shit!

    Nowhere near what I'll be getting unfortunately, probably nearer 40% for 1.5 yrs after taxes and whatnot which is still better than a kick in the bollocks.

    In NZ they have a bright line test which is not so much designed to stop flipping investment properties as it is to disincentivize it and it was recently increased from three to five years so I'm caught by that.

    Quote Originally Posted by NamPikToot
    and money...seems thats the same problem Leo has with Boomers, bloke reeks of hypocrite.

    Bit obsessed aren't you. And a massive, whiny, hypocrite.

  15. #1365
    Thailand Expat
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    Quote Originally Posted by AntRobertson View Post
    Crikey that's definitely not shit!
    150% sounds more impressive than if I gave the actual dollar profit I made. Bought the home for very cheap from an older lady desperate to sell so she could move down to Phoenix to be with family. The house was out in the sticks, and her husband just passed so she wanted out of there quick.

    Big developer started buying huge swaths of land a few miles away a couple of years after I bought the home, that drove the prices up all over the place. Sold the house right before the big crash, put the money in the bank, and moved to Thailand for a couple of years.

    Luck and timing.

    Good that you're getting 40%, my buddy bought a home at peak market and was under water for 13 years, just sold it for what he originally bought it for, back in Sept. Break-even ( not including all the interest he paid on the loan ). He felt lucky to get that.

  16. #1366
    CCBW JPPR2's Avatar
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    Quote Originally Posted by Agent_Smith View Post
    150% sounds more impressive than if I gave the actual dollar profit I made.
    That's always the key when using % as a gain. I knew a few that bought run down 2 bedroom properties (More like cabins) for $30 to $40k. 3 or 4 years later sold them $50 to $55k, Most took 6 to 8 months to sell as they were not prime spots and takes a special type person wanting to move into them. So yeah he made $15K or so on the monetary investment but spent years to get it back and when all said and done after taxes yielded very little.

    Now if you bought a home say 10 years back for $350K and sold it for $1.25 million later, now we are talking some ROI being the principle was paid down so the ROI is even higher especially if you make additional payments towards the principle

  17. #1367
    Thailand Expat
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    Quote Originally Posted by kmart View Post
    ^^I'm keeping my eye on UK house prices also. Supposedly set to dip as much as 10% this year
    Allegedly the 40+ year old Chinese, with the appropriates paperwork. from HK will be flooding over to take up the slack.

    Boris Johnson offers 3 million Hong Kong citizens refuge in the UK in retaliation for China imposing national-security law

    "UK Prime Minister Boris Johnson has offered 3 million Hong Kong citizens the right to live and work in the UK

    The UK government will offer five years of limited leave to remain to all Hong Kong citizens eligible to apply for a British national overseas passport and their dependents — some 3 million people, Johnson said. After five years, they would be eligible to apply for settled status in the UK for another year, then they would be eligible for full UK citizenship."

    Boris Johnson offers Hong Kong citizens refuge in UK in response to China - Business Insider

    No immediate response by UK citizens of Estate Agents.

    I'm sure the OZ and NZ governments will take in a good number. On humanitarian principles.
    Last edited by OhOh; 02-07-2020 at 02:38 PM.
    A tray full of GOLD is not worth a moment in time.

  18. #1368
    Hansum Man! panama hat's Avatar
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    Are you now posting your shit just anywhere? This is the coronavirus thread

    Quote Originally Posted by OhOh View Post
    in retaliation

    Ridiculous . . . definitely worth a:
    Last edited by panama hat; 02-07-2020 at 05:27 PM.

  19. #1369
    Thailand Expat
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    Quote Originally Posted by panama hat View Post
    This is the coronavirus thread
    Take a look at what I replied to in this thread.

    A discussion on House prices/opportunities to profit from some distressed house owners. You think a block of 3,000,000 new buyers will not have any effect.

    Idiot you are.

    Quote Originally Posted by AntRobertson View Post
    Quote Originally Posted by JPPR2
    A few of my finance colleagues feel there could be another banking housing bust coming up
    Hate to say it because it makes me feel a bit grubby just thinking it, but that's when I'll be looking to get back in again
    Quote Originally Posted by JPPR2 View Post
    I have no interest in housing opportunities in the US,
    Quote Originally Posted by panama hat View Post
    I'm not a real estate agent.
    Quote Originally Posted by panama hat View Post
    A perfect time to add to the r/e portfolio
    Quote Originally Posted by Agent_Smith View Post
    I did the same in '06. Sold my home and got 150% ROI for a 3 yr investment
    Quote Originally Posted by AntRobertson View Post
    Nowhere near what I'll be getting unfortunately, probably nearer 40%
    Quote Originally Posted by Agent_Smith View Post
    Bought the home for very cheap from an older lady desperate to sell so she could move down to Phoenix to be with family.
    Quote Originally Posted by JPPR2 View Post
    I knew a few that bought run down 2 bedroom properties (More like cabins) for $30 to $40k. 3 or 4 years later sold them $50 to $55k
    Take you juvenile grunts elsewhere.
    Last edited by OhOh; 02-07-2020 at 08:55 PM.

  20. #1370
    Thailand Expat
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    Quote Originally Posted by panama hat View Post
    Quote Originally Posted by OhOh View Post
    in retaliation
    Making up false quotes eh.

    Quote Originally Posted by OhOh View Post
    I'm sure the OZ and NZ governments will take in a good number. On humanitarian principles
    Hit a nerve eh.

    Sad.

  21. #1371
    Hansum Man! panama hat's Avatar
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    Quote Originally Posted by OhOh View Post
    Making up false quotes eh.
    Show me where it's false and continue with our diatribe



    Quote Originally Posted by OhOh View Post
    Hit a nerve eh.
    Why would it?

  22. #1372
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    Sadly missed out on any Canada Day celebrations as all the festivities were cancelled yesterday. I heard a few places still had fireworks, but I wasn't willing to go as I've seen hundreds of phenomenal fireworks in Asia and these wouldn't compare. Also, had a headache anyway all day and just sat in the air conditioning missing out on a few get togethers.

    As of recently masks are mandatory on transit in Toronto and Ottawa. Also masks will now be mandatory in businesses as of Monday in Eastern Ontario. I have no idea how they will enforce this unless they have cops walking around stores which I doubt.

  23. #1373
    Hansum Man! panama hat's Avatar
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    Quote Originally Posted by MarilynMonroe View Post
    I have no idea how they will enforce this unless they have cops walking around stores which I doubt.
    One would hope the people alone would decide to do the right thing and not copy from your southern neighbour

  24. #1374
    Isle of Discombobulation
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    Masks are mandatory on public transport here in the UK.

  25. #1375
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    ^^Yeah no kidding! I'm so glad the border is still closed.. I heard there was 50,000 new cases today in the USA.
    ^That's great, Chitty!

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