Rest of the story here : http://www.greaterfool.ca/2011/04/10/depraved/ Sound familiar to any of you?
Canada and Australia are living proof that things can be different here. (or there) Property in Canada and Australia is a rock solid investment, as the prices will only go up due to booming economies and housing shortages. The recent minor dip in prices, combined with near indefinite low interest rates, offers a great opportunity to buy in at value. Certainly the opportunity to buy in at these prices is limited, as demand is sure to push prices higher still in the medium term.
Is that 51 year old sara in the pic? shes hot for an old girl i think she might have spent her mortgage repayments on plastic surgery
For anyone who reads the full article, TFSA stands for Tax Free Savings Account and its basically a bank account that doesn't have it's interest taxed, giving the owner an incentive to save rather than go into debt. (We could really do with these in Oz too).
HEAR HEAR!! It's very hard to not give benefit of the doubt on elite conspiracies creating debt slaves when very obviously intelligent solutions are totally ignored - or maybe the government is just unintelligent.
Actually, two of the Big Four banks (Westpac and NAB) have said they'd like to see this kind of facility introduced here. But yeah, subsidising debt via negative gearing and penalising saving via tax on earned interest isn't particularly intelligent.
"Too much of your net worth in real estate is a recipe for heartache. Investing in a bag of things is salvation. But this is a message many people simply don't want to hear, especially those who make their livings from pumping houses" That there was the take home sentance of the article for me - don't put all your eggs in one basket and don't become emotionally attached to your baskets. Analyse, review and adapt change baskets as required. Or take up weaving make your own basket and pillage the system :banks: cough
LOL - Dead right. With all the boat people arriving on our shores, there is no end to the real estate boom. The demand for housing will be sustained along side the perpetual war of USA drone attacks and DU bombing of middle-eastern countries. War perpetuates peace and sustains house prices. I wish our PM would shed some tears infront of the US congress and praise them for their spectacular abilities to generate a never ending flow of middle-eastern immigrants, assilum seekers and US dollars to sustain the investor demand for housing in Australia. All the while transferring to the crony Chinese communists all their capital so they can drop it into the land banks of Australia, Canada and Africa. We need Habib, Julia, Brown and Abbott to all report to the US embassy and beg for their continued sponsorship of the Australian real estate market. Print, deficit spend and destroy. What could go wrong? It's fool proof I tell you! If Australians want to be wealthy, we all need to borrow more money from international markets and expand our real estate portfolios. http://www.frasercoastchronicle.com...luxury-units-go-at-basement-prices-riverview/
