Hey Hey !! Just coz Auspm is having a lil break you come all out bashing back ! There is 24hr truce, active immidately !
Hardly a Contrarian move tho is it it? A little more like moving with the herd under the guidance of an assured return for very little risk, I am not a property basher, I'm also not bashing newbies to Silver. I am a life time renter but with a big fat shitload of land waiting for me. I have tho seen rent's skyrocket and fall along with the value of real estate , and also had to pay the increase and fall that go's with renting and along the way put up with landlords failing to upkeep certain property's . It is the very ponzi on Australian property's that has now made the traditional dream of owning ones own property beyond the reach of most young family's in Australia. People that partake in this obviously have the right to and also have the right to gain from it but at the same time as has been pointed out by others here and elsewhere should not assume that it was a "Smart" investment and included risk. In your own words you knew or know that it was a ponzi and took advantage of it.
Stocks and Real Estate cycles are very closely linked in terms of phase... Precious Metals tend to be counter cyclic to the above two asset classes. I agree that having sub-sections of this forum for stocks and RE asset classes makes for a well balanced forum for people interested in investing. You said "I don't think you can reasonably look at a single asset class (precious metals) in isolation of wider investment options." Would you agree that stocks and RE are currently in a downward phase ito value and that PMs are in an upward phase? IF so, then i dont see why under the current conditions that investing in a single class - viz PMs is unreasonable? I cant speak for the others, but personally i've found "these people" to be either unrealistic or untruthful about the merits of investing in RE in Australia at this point in time. If an investor isholding RE that returns a postive cashflow currently then i'd agree that this is a good thing for his/her investment portfolio. However, if he/she is one of the vast majority of RE investors who at this time are making a loss on their investments (negatively geared) then this combined with the reality of capital losses looming ahead for them is hardly anything to applaud... unless of course one wanted to be cruel I agree with Maloney that owning RE would be the ultimate goal in the end game ... on condition of course that government does not completely hijack the property market with increased property taxes to fund the bankrupt welfare state. So aspiring to investing in property is a good thing. Of course you omitted to mention that Maloney clearly states that buying into property is only desirable at some point in the future when property again becomes undervalued... which especially here in Australia has no bearing with the current timeframe. So its not a case of being against property investing or against property investors in this place - the issue is with people here cheering investment in property at this juncture = when property is hideously overvalued!
Yes. I did not put any opinion forward about single asset or diversification being better than the other, so I neither condoned or disputed such a view to be contested on it. I'm referring in general to anyone on this forum that owns property - they're always castigated for owning real estate regardless of whether they've been a long term holder or are still buying. Funnily enough, there's an element of the membership that just stereotypes property owners as all being the same. "Of course" I omitted to mention? What's that supposed to mean? Do I have to point out the bleeding obvious about the relative value of Australian real estate? The whole point of my post was the hypocrisy being exhibited on this forum on a daily basis. It's a precious metals forum, all investors are welcome. It's not the "silver only, property owners not welcome" club, as much as some members might want it.
Why don't you all do your own thing. In the end game someone will be a winner then the crowing can begin. Those in Real Estate have been winners as have silver stackers of late. Don't count your money/silver when you're in the game still playing. Regards Errol43
Have you actually read that post? 1. I'm predicting doom and gloom for property. 2. i'm not a blind property bull. 3. I'm selling property not buying. I've reduced my exposure to property considerably in the last 18 months. I've even swapped my PPOR for one that can be value added to reduce LVR. We've been through all this before. 4. regardless of my predictions the market will do what the market does. At the moment the market is holding up better than I predicted. That's what I'm commenting on. I haven't changed my prediction. You're clutching at straws. C
I started buying investment property in 1999 before the original first home buyers grant came in and sold them 18 months ago. How could I have played the property boom in a more contrarian way? C
Personally i must admit that i've never seen anybody on this forum who could be classified as a "silver forever" investor. Please let us know who these people are and perhaps give a post or two to show posts indicating this attitude. I agree mostly with this definition. however, that would certainly exclude most of the property cheer leaders here from being "contrarian" then ... That sounds like a thumb-suck statement at best. Just because people dont own shares or property NOW certainly does not mean that they have never owned these assets before or never intend to own them in the future. In fact if they had owned these two asset classes and had disposed of them anytime during the past decade and purchased PMs with them, THEN they would have made a very good investment choice and could definately be classified as being of a 'contrarian' mindset... Most people would however have followed the herd and continued to invest in RE - believing that the party would never end! Some of the property cheer leaders here seem to STILL be mesmerised by the prospects of investing in property during the CURRENT period, which is nothing short of absolute stupidity... Based on what i've said before i'd have to say that your words above are a far better fit for the property cheer leaders here. They fit in snugly with 90% of the rest of the Australian population who are still absolutely clueless to the fact that RE is an absolute dog of an investment at this point in time. They still naively believe that its okay to make a loss each and every month because there will ALWAYS be CAPITAL GROWTHs tp be made! WRONG!!!!! At this point in time, it is still a minute proportion of the population who invest in PMs as opposed to RE and shares. These people can definately be classified as contrarian, because it is the exact opposite to what the herd is currently doing,,,
GP - perhaps i'm the only stacker here who misunderstood your post then. My apologies for misunderstanding the intention/message then. I feel some frustration though at the way that you and others here are misinterpreting my- and others statements here as being "anti property" and "anti property investor" when in fact the message we're trying to get across is that NOW is a very bad time to be purchasing property - especially in Australia! I dont recall anybody bashing property that has been purchased some years ago which is actually putting money in the owners' pockets every month. The problem is with people cheering purchasing property now or in the recent past when property is obviously overvalued. Perhaps we're just talking over each other on different "wavelengths" but clearly some people here seem to be missing the point - either because of poor use of words by us posters or because they're purposefully distorting the message being made ... for whatever reason they may have
Malachii ... If you haven't yet, have a look at this new thread: http://forums.silverstackers.com/topic-8180-stop-worrying-read-this.html It may address some of the concerns/issues you recently raised about silver...
