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#1981 | ||
FF.Com.Au Hardcore
Join Date: Feb 2005
Posts: 5,045
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we were absolutely flat out over 2019-20, but business has been falling off ever since, down to almost half of what it was. I'll be surprised if we're still open after xmas. meanwhile most people I know are doing better than they ever have. not surprisingly, I'm a bit over life right now TBH.
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#1982 | ||
Cabover nut
Join Date: Aug 2015
Location: Onsite Eastcoast
Posts: 10,827
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Seems 2020's are the years of the B & B investment conversions.
The mid 80's was all about Deer Farms. Mid 90's, the trend was Ostrich Farming and Angus studs. 00's the 10's were the years to invest in a trendy Boutique vineyard or Olive Groves. From what I've been learning from clients, housing investors just keep moving their money around and claim the govco incentives. Rentals are becoming a constant money pit so they change tack to do the build/reno a quaint cottage on a country estate and rent it, at premium prices. Just my observations judging by the amount of entranceways, fireplaces and chimneys on the to do list for the next couple of years.
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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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#1983 | |||
T3/Sprint8
![]() Join Date: Jan 2005
Location: Australia
Posts: 16,334
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There will always be people in far worse situations. Covid sure has rocked some industries to the weeds and others doubled. As a small business owner I sympathise, people remind me about Ukraine or Africans etc - then I re set my head yer it could be worse.
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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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#1984 | |||
Critical Thinker
Join Date: Jan 2005
Location: Adelaide
Posts: 20,320
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Quote:
Hope you are able to at least have a good week.
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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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#1985 | |||
Where to next??
Join Date: Oct 2006
Location: Sydney
Posts: 8,893
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Quote:
My punishment for starting early was to pay penalty interest rates. If fact, I was turned away by all the big banks, one manager telling me to come back when I was 23, after I had graduated and after I had accepted a 'permanent' full time job. I disagree that what I did can't be done today. Rates, while going up are causing prices to go down. There are more jobs available than ever before. Many paying above average wages and with 'sign on' bonuses. First home buyers have a whole bunch of perks and incentives to buy a property. The job situation has also changed. With the giga economy I can do multiple jobs, between my normal jobs from the comfort of my car and can stop and start when and how I please. None of this was the case when I started. In Sydney you can buy a studio for low 200k. A 1 br unit for high 200's, a 2br unit for low 300's and larger 3br units are starting to hover at high 400's to low 500's. And that's Sydney, the most expensive capital in Australia. Prices would be lower everywhere else. That's now. I'm predicting they will drop another 10% by early to mid next year. Lets say someone has the ability to earn $80k by putting in the hard yards, that's well and truly a deposit on any of the above properties. Doing it as a couple? Even better. Had I been in the position to start now I would have stuck to the exact same methods I did the first time. Make as much as you can, spend as little as possible then when you have a decent amount of deposit of at least 20 or 30% buy something.
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___________________________ I've been around the world a couple of times or maybe more....... Last edited by Yellow_Festiva; 21-06-2022 at 07:26 PM. |
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#1986 | ||||||||||
FF.Com.Au Hardcore
Join Date: Feb 2005
Posts: 5,045
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Why is it so hard for us to accept we had it better than our kids will (financially)? I dont think there's an economist anywhere who would argue that isnt the case moving forward. It was always going to be the case as we embraced globalisation, that it would be at the expense of our own standard of living. Edit: BTW, full disclosure, I'm trying to buy a property at the moment with an aim to eventually supplement our retirement income, and also to help our daughter get her foot in the property market when the time comes. Due to a combination of a wildly optimistic developer re: lead time, covid, building material shortages and the incessant rain, construction wont start til Dec, some 18mths later than what we were told when we put down a deposit. in that 18 mths, business went from ok to sh1thouse, the builder has jacked up the price by $100k because the sunset date had passed, and what should have been a no-cost investment will be cashflow negative anywhere up to $1000pm by next xmas. So no, I'm not feeling the property market optimism. Logic says I should stay the course because things will sort themselves out within the next 2-3 years, but that's easier said than done when you're quite likely not to be working at a time nobody's likely to be hiring. Last edited by b0son; 21-06-2022 at 10:10 PM. |
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#1987 | |||
BANNED
Join Date: Jul 2012
Posts: 2,886
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But now one of my sons earns 200k plus a year and another earned 500k last year. My sister earns 200k a year and zooms most of the time. I asked a plasterer if he was interested in doing ajob for me, reckons he wouldnt get out of bed for less than 80 bucks an hour....cash. FFS...
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#1988 | ||
FF.Com.Au Hardcore
Join Date: Feb 2005
Posts: 5,045
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#1989 | ||
FF.Com.Au Hardcore
Join Date: Jun 2013
Location: Adelaide
Posts: 1,601
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Doing a western vic road trip, astounded at the property prices, any moderately sized regional town, houses and land are approaching city prices. Halls gap appears to have doubled, there are no old fibro shacks for $200k anymore I guess it’s the bolt hole effect.
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____________________ 2019 LDV G10 2009 Mitsubishi Express-GONE 2011 Honda Jazz ____________________ |
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#1990 | |||
WT GT
![]() Join Date: Jan 2006
Location: The GSS
Posts: 17,759
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#1991 | |||
FF.Com.Au Hardcore
Join Date: Jun 2013
Location: Adelaide
Posts: 1,601
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Quote:
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____________________ 2019 LDV G10 2009 Mitsubishi Express-GONE 2011 Honda Jazz ____________________ |
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#1992 | ||
WT GT
![]() Join Date: Jan 2006
Location: The GSS
Posts: 17,759
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#1993 | |||
FF.Com.Au Hardcore
Join Date: Feb 2005
Posts: 5,045
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Quote:
I mean, this place is probably best known to us Sydney-siders as the place that has that McD sign that says 'Myass opens at 6am'. Somewhere you pass through on the way down the Hume, but not somewhere you go to. |
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#1994 | ||
DIY Tragic
Join Date: Apr 2018
Location: Sydney, more than not. I hate it.
Posts: 21,835
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I’d be happy there. If you’ve got dam/gorge views and a decent block it’s not too bad. Dry heat in summer, nicer than Sydney humidity. Would prefer it to Gunning, for example. But likely choose Binalong over either.
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#1995 | |||
FF.Com.Au Hardcore
Join Date: Sep 2014
Location: A.C.T
Posts: 1,569
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2022 Honda HRV e:HEV in Premium crystal red. |
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#1996 | |||
Cabover nut
Join Date: Aug 2015
Location: Onsite Eastcoast
Posts: 10,827
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Fantastic old Hume to ride, so many dirt bicycle circuits to the north and south. 2 good little cafes, servo/supermarket, super friendly people, Breadalbane plain, Craig the local mechanic, bio diesel community. XPT on demand to Syd/Melb. Firefly to Syd/Melb. Binalong was great until they lost their rail station.
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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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#1997 | |||
FF.Com.Au Hardcore
Join Date: Sep 2014
Location: A.C.T
Posts: 1,569
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Quote:
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2022 Honda HRV e:HEV in Premium crystal red. |
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#1998 | |||
Cabover nut
Join Date: Aug 2015
Location: Onsite Eastcoast
Posts: 10,827
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Quote:
The guy who makes all the round concrete speakers springs to mind, lives in the granite facade shopfront. Spent quite a bit of time there. In fact was our 1999-2000 millennium bolt hole when the world was going to end. Michael McGirr wrote the book "Bypass" here.
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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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#1999 | ||
DIY Tragic
Join Date: Apr 2018
Location: Sydney, more than not. I hate it.
Posts: 21,835
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I recall Andrew Denton was around that way as well. Complete with red Maloo.
![]() https://www.abc.net.au/news/2022-06-...oans/101175258 Have to say, I’m still not hearing of too many people actually experiencing repossession - maybe they’re jumping before they’re pushed? |
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#2000 | |||
Virtuous Bogan (TM)
![]() Join Date: Jan 2005
Location: TAS
Posts: 27,559
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Quote:
Who knows, Australia is an odd place and we seem to avoid somethings we shoudnt.
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#2002 | ||
FF.Com.Au Hardcore
Join Date: Sep 2014
Location: A.C.T
Posts: 1,569
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I can tell you,I am very much alive!!
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2022 Honda HRV e:HEV in Premium crystal red. |
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#2003 | |||
WT GT
![]() Join Date: Jan 2006
Location: The GSS
Posts: 17,759
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Quote:
I've used this heaps since publication. https://roads-waterways.transport.ns...ith-a-road.pdf |
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#2004 | |||
Cabover nut
Join Date: Aug 2015
Location: Onsite Eastcoast
Posts: 10,827
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Quote:
CB, Gorge, scenery......ever thought of Bungendore or even Collector on the Federal. re Gunning, Dick Smith lived down towards Gunderoo for a time, his little airfield is beside the main rd between Gunning and Sutton.
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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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#2005 | ||
Where to next??
Join Date: Oct 2006
Location: Sydney
Posts: 8,893
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I'm seeing a 10% correction in some markets already.
I've bookmarked a whole bunch of properties just to monitor their price movements. Only a few are going to auction and selling. A whole bunch are being removed. Another bunch are dropping their prices. The Domain app lets you see price changes on your saved properties and sends you a notification when it happens. Lots of 'Motivated vendor' email notifications from agents that only several months ago didn't bother to return calls or emails... I think I will hold off on buying till at least the 2nd or 3rd quarter of next year now rather than the first quarter.
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___________________________ I've been around the world a couple of times or maybe more....... |
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#2006 | ||
If it ain't broke........
![]() Join Date: Dec 2007
Location: Sunshine Coast Qld
Posts: 18,527
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Down in Ballarat at the moment. Was here 6 months ago. Everything that was listed for sale had a Sold sticker on it. Now there are many houses for sale but haven't seen one with a Sold sticker on it yet..........
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Visitors welcome Relatives by appointment only |
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#2007 | ||
FF.Com.Au Hardcore
Join Date: Feb 2005
Posts: 5,045
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And this will put a floor on how far the market can ever drop here - investors. With rents soaring, that floor is probably higher than ever, with the consequence being that if rates really do go up 2.5-3%, FHBs will remain priced out. Next year will be a great time for those with lots of cash in the bank.
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#2008 | |||
Where to next??
Join Date: Oct 2006
Location: Sydney
Posts: 8,893
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Quote:
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___________________________ I've been around the world a couple of times or maybe more....... |
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#2009 | ||
FF.Com.Au Hardcore
Join Date: Apr 2005
Location: Canberra
Posts: 13,374
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AMP has passed the full 0.50 on for me so I'm at 3.27% at the moment.
The way things are going it won't be long before I'm paying more than my original rate when I bought the place ![]() I will see what I can get out of my lazy broker, but failing that I have my OG broker ready after being banned from business, his non compete is lifted now if I want to switch products. I should be getting <3% and know I can get it elsewhere so see how this goes. Don't pay the lazy tax, always ask for a discount ![]() |
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#2010 | ||
FF.Com.Au Hardcore
Join Date: Sep 2014
Location: Catland
Posts: 3,618
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Young carpenter in family hearing quite a few stories of construction companies G-town way going belly up. Talking amongst the family, the reason seems to be the fixed cost prior contracts and inflating materials cost, or maybe some are financially a bit more precarious. Amongst the peer group in class, there are a few not getting the regular work. Young one is flat out - has a good boss who seems proactive and will fill in major work with side contracts. So he's travelling far and wide at times before a big contract begins.
It's an interesting scenario right now. A mate asked "How can we have a recession if there's full employment?" And I see the notes from the business owners here - some losing volume, some are flat tack. Best wishes to you all. Rates too: latest seems to be the market pricing in a slowing of the rise, or maybe a reversal of the policy before Xmas (ie, you raised it a little bit, but then everything nearly broke)... Some reckon the supply chain inflation will abate, some reckon this is going to be like the 70s. The only thing we have to fear is that Disco will reappear. And Yellow Festiva - that bedsit/1brm etc pricing in Sydney was really interesting. I assume that would simply be a search on the RE websites, choose 'cheapest first' and maybe dwelling type, then these come in? Will try for our town.
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I6 + AWD |
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