Methinks thou dost explaineth too much
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I had to live through, so it helps me to share, probably should have been in the Mental Health thread.
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I can remember seeing in media about 2 years ago the housing was going to collapse because the Chinese will not be buying
They’re still buying from overseas.
You know what they say, the Chinese think in centuries.
I’ve been following the market in Sydney.
The apartment market in real terms is quite lousy as in many within 15km of the CBD have treaded water for 10-15 years whilst houses are insane.
House near me traded 8 years ago for about 1.1m, sold last weekend for 7m
Meanwhile I’ve seen apartments sell for the same price as they traded 5 years ago.(or marginally higher in nominal terms…ie people going out backwards).
Incredible. The numbers are truly breathtaking. Some people have some serious wealth.
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That level of growth just seems inflationary to me. People buying because it’s growing, not for any other reason.
a lot of dodgily built apartment buildings in sydney have been reported in the last couple of years.
only a matter of time til that hits melb. put me off buying one.
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Saying ‘the Chinese’ do anything as a monolithic mass is just howlingly naive and oversimplified. Chinese people do things for a whole bunch of very personal reasons.
I would like to unreservedly apologise to the nation of China, its people past and present, whether here or overseas, for my appalling indiscretion.
If only ScuMo could be so contrite we might get back some of our export markets he single-handedly lost.
There’s been a couple of posts in this thread about buyers of property just using their sellers conveyancer.
This is a reason you get your own solicitor. Perhaps not the vendors fault, but gee get someone trustworthy to handle the transaction that your participating in.
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be surprised if someone hasn’t been fired over this
Is that the excuse you told your mum when she started hinting again that you should move out? 
Does anyone have a calculator or rule of thumb for buying a rental property? It’s probably the worst time in the last decade to be buying, but want to do the calculations on this versus some other investments.
I think it depends what you’re aiming for
Some are only after capital growth, some for the rental returns, some want negative gearing.
My advice would be to get some proper financial advice around it.
Yes, have my guy, but always keen to see what peoples thoughts are.
It would be for a bit of negative gearing, with capital growth over 10+ years, possible future home.
Whenever I do the sims, it always seems a bust, so can never figure out why people keep pumping money into it. Luckily for them the prices are going up.
Anyone read about the restrictions that may come in for FHB? I’m hopeful of this actually working to my advantage as I have a deposit. Typical that they would look to smash FHB as opposed to investors first though. Politicians have a ridiculous amount of money in property.
I’m hopeless at that kind of stuff so I’m not much help.
We have investment properties but have never really looked at them to make money in the short term. They are our nest egg for hopefully early retirement 
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maybe hold back on buying into a high rise/new build. The main market for those is offshore money.
And that’s going to be put under a microscope by the sounds of it in coming weeks/months.
It’s a sensible change but the devil will be in the detail.