Best time to sell Q1 2021

Discussion in 'General Precious Metals Discussion' started by sammysilver, Jan 5, 2021.

  1. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Have you considered getting just the minimum budget place that the partner can accept? I don't see how prices can fall much, especially for Melbourne. Prices are starting to shoot up locally, and that's with 23% sale tax for most foreigners so $1 million + $230k non-deductible tax. They are running for their lives. I heard hongkies buying without seeing, just use whatsapp.
     
  2. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Minimum in outer suburbs (1hr from CBD) is $550k. To get something I can actually afford or realistically pay off I would need to find regional work (which I am not averse to) and live rural (2-3hr from CBD) or a better paying occupation. I should just become a real estate agent, they're raking in the commissions.
    The partner is already patient enough to be living with her in laws but is still studying so no dual income yet.

    We just put as much away into metals as we can and live below our means for now
     
    Last edited: Jan 16, 2021
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  3. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    You’re only priced out because you’re not in.

    And stop buying PMs.

    The only way you can win is by being in the game, it’s no use waiting for the players to come to you because they won’t. Diversify your asset base:
     
    Last edited: Jan 16, 2021
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  4. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Are you saying you are actually not priced out, but instead simply adverse to a 30-year mortgage?
     
  5. alor

    alor Well-Known Member Silver Stacker

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  6. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Perhaps, guess it's all perspective.
     
  7. wrcmad

    wrcmad Well-Known Member Silver Stacker

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  8. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    I suspected that. And I'm not so old that I can lecture you about "back in my day......", but;
    I'm 100% with Shiney.... you are only priced out because you are not in, and are justifying to yourself why you cannot do it.
    Stop buying PM's, they will not get you there. Bite the bullet and commit. Once you are in it all becomes clear, and easier. There is no way it will take you 30 years to pay off a mortgage (inflation will take care of that), and the equity you build will be dreamy, and allow you to expand your investments (not necessarily more real estate) exponentially.
    Otherwise, you are ensuring yourself of a miserable retirement.
     
    Last edited: Jan 16, 2021
  9. 66rounds

    66rounds Well-Known Member Silver Stacker

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    I understand your points. It's just hard to explain the big gap between wages and housing. However a few choice stock buys would close that gap quite quickly.
     
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  10. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    The gap between wages and housing has always been there. I have changed PPR 3 times over the last 25 years, and each time has been a similar ratio between wages and house prices.... only the interest rates keep getting lower, so it is actually getting easier. :p
    Yes, it is a little overwhelming, but is not insurmountable.
    I know from watching my own kids that the current young upstarts are not willing to sacrifice anything to get it.
    Material items like the latest iphone and a cool car are way more important than home ownership....
    They have a standard of living they are not willing to compromise.... unfortunately for them.
    It will come back to bite them in the ass hard down the track.

    As for the stock tips.... that is how I earned the deposit for both my 1st, and 2nd PPR.
     
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  11. alor

    alor Well-Known Member Silver Stacker

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    there are people meant never to own their own house, not in their life time
    no matter how they try
    only after certain age, they have a house
    what is meant to be to be :D
     
  12. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Do you mean a cat house? :D
     
  13. alor

    alor Well-Known Member Silver Stacker

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  14. Jason1

    Jason1 Well-Known Member

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    @round66

    hopefully this includes lead lol, I have 5 tonnes of the shit sitting around as the value died in the arse when covid struck. lol
     
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  15. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    I'm on my 5th and last mortgage now. I'd be very careful about staking yourself down permanent somewhere in this day and age and stable 30 year careers arent what they used to be.

    Renting and owning still both have their own benefits and theres no rush.
    In another few years all those houses will be half price or less. The housing market crash is coming eventually and you'll see a major deflation.
    Banks are already tightening up on lending.

    Up until the fiat nightmare of 71 a house was comparable to the average mans yearly wage.
    Dont get suckered in without really thinking about it.
    Your not owning a house, your owning a mortgage.

    I can totally see a younger couple hesitating on this and sometimes staying more fluid is easier.

    Ill say I only took on this last mortgage a few years ago because it was raw land that we are homesteading, it was cheap and I could pay it off fast.
    No way would I take out a big loan in this current bubble anyway.
    When this blows most will probably be under water.
     
    Last edited: Jan 16, 2021
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  16. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    In my opinion, melbourne, vancouver and singapore as well are cities that will be flooded if there's any major problem coming out from China or HK, high chance in the decade or so, so you would want to secure a residence and not rely too much on renting. That's why I proposed the cheapest place, but distance from workplace is also important. Partner willing to stay with in-laws is good but not a long term solution. Didn't know this is possible in Australia. Here, it's usually not possible unless the bride is from overseas. :D
     
  17. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Hey if you've got the space for 5ton worth then why the hell not. Get yourself a bullet mould/press and enjoy your Covid isolation haha
     
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  18. Jason1

    Jason1 Well-Known Member

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    ]

    that article is stupid no offense,he is basing his thing on a burrito? lol not on the fact that burritos are over priced begin with and people are happy to pay more for them, if he was looking at the costs of making the burrito and cost of goods was going up 35% then he has a point, but he didnt.
    its double or triple what it should cost because people are stupid enough to keep paying that businesses high markup, the idiot is mixing markup and greed with inflation.
    Hopefully that idiot doesnt start a business, He clearly cant understand the basics and even tell the difference between Net and Gross at the very least. lol
     
    Last edited: Jan 17, 2021
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  19. 66rounds

    66rounds Well-Known Member Silver Stacker

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    To be fair business insider is not much better than vogue or other garbage media. Just the first thing I could find on a quick search.
     
  20. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Residential Property price is a very sensitive political issue here, that’s why each time the market heats up, the government will add another 5% sales tax and all sorts of controls, increase minimum deposit, maximum mortgage as percentage of salary. Foreigners are banned from purchasing of 90% of the property market. They could if they could get a PR which is now very difficult to get, and even marrying a local doesn’t guarantee that. Yet prices still can’t fall and the trend is still a gradual increase. With the virus pandemic, and if prices still can’t fall, it is unlikely they would fall significantly whatever recession comes. The pandemic shows us that what is affecting housing prices is no longer just economics but geopolitics.

    Regardless I still think that pm will beat property in the long run, the end game will be hyperinflation and property will lag because it is one of the things that governments can control using taxes, draconian rules and rent controls.
     
    Last edited: Jan 17, 2021

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