lolol (at the anecdotal evidence in that article)
http://www.youtube.com/watch?v=IeXMK...eature=related
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lolol (at the anecdotal evidence in that article)
http://www.youtube.com/watch?v=IeXMK...eature=related
I'm Gen X, my wife is Gen Y.
We consider ourselves extremely fortunate to have not just survived but thrived through the "tech wreck" 8 years ago, largely due to our realistic expectations and concerted efforts to run away when we all too often hear "It's different this time".
We also benefitted from the massive run up in real estate prices in recent years. We see the same things happening as with the teck wreck....and for the past few months it's becoming increasingly obvious to the layman(or woman). We have no desire to sell our home, but we are rationalizing our non-farm property assets to take advantage of once in a generation ridiculously low yields/high prices.
Most of our peer group do not own property........we often get drawn into conversations about buying a home and property investment.
It would be foolish of us to not include "luck" in how we have achieved our strong returns...but a big part of luck is in "making" your own luck........head down, ass up, save, save, save...so one is well placed to take advantage of opportunities when they present themselves.
People have been conditioned to expect what they want, when they want it.
Those who have sacrificed and delayed gratification will do particularly well in the coming years...those who haven't sacrificed and saved will continue down the tracks to nowhere until they change their behavior.
My guess is that reading this article in 12-24 months time will result in the tables being turned a bit.
Property leverage is great when the tide's coming in......but property wealth can disappear just as quickly when the tide goes out.
Categorising people into Boomers, Gen X and Gen Y is rubbish. I agree with the last two posters about hard work, saving, and delaying gratification. In every generation there are those who do all of that, and there are those that live for the day.
I look at todays older people who are on the pension. There are those with assets and savings who are comfortable, and those without who struggle only on the govt payments. I can look around now and see people who are earning good money and I can tell you which of the older generation camps they will end up, irrespective of their "Gen".
"quote.."In the last two months I have seen a clear shift of the bulls thinking...
They now write more bearish... They have backed away from heated debate...
Even Joe Kid scattered after he admitted he sold all his houses"... unquote
Shrewdie one day ya just gotta grow up. Winners/losers, there are plenty of both. Just like the current opportunities on the stock market, there are incredible opps in the property market. I haven't "scattered" at all. Just sitting back watching losers lose and winners win. Life goes on...
One thing's for sure young fella... if ya gonna be a winner you better start thinking like one >>>
Cheers and good luck
JK
Hey Joe King...
I am a full time student and I have a job working 4.5hrs per week as a poker host earning $90... Im also eligible for an allowance this year as my dad just retired...
cant buy a house even if I wanted to, and I dont want to...
...
Dont you worry about me buddy, Ive got it all sussed out...
Ive got a small group of my best friends in on my idea
.... when the carnage is over I will be buying my own house and more than a few houses with a group of mates all putting in 7k or so per house...
I wont buy into this 'its never a better time to buy than right now'
I have mad respect for the bulls... Its different for your group and quite frankly you will never understand it from my view because you are set in your ways, your views are biased because you are a housing buff, taking advice from you is more damaging than good...
theres no point going out on a crusade buying houses now...
Im not on some sort of heroic mission...
Im smart, not mad..
disc, LMPO, GGX, RPM, LMP, AKK.... all performing...
Good day...
:cool:
.^sc
tok3n posted a good article.. I hope you sit down and read it some time...
:cool:
.^sc