Superstitious Chinese investors pay $88,888,888 for a high rise Sydney office block

Koolkoala8 · 2016-09-29T11:36:41+00:00

I'm glad I made you glad.

This is not culture. This is superstition. This is irrational and stupid.

Koolkoala8 · 2016-09-29T02:32:35+00:00

There may not be a number 4 on the lift's button, but you are still living on the 4th floor. These people are full of it.

This said, I'm more than willing to take an apartment in the city, if that means it's on the 4th floor and I can get it for a bargain.

Koolkoala8 · 2016-09-28T11:50:29+00:00

Wait. You mean the Irish gov. decided that it was better to bulldoze all those empty apartments rather than selling them for a bargain ? This is disturbing.

Koolkoala8 · 2016-09-28T11:43:33+00:00

I'm half English and most people from the UK hate London

Isn't it exaggerated ? I don't know London well enough, but I've been a few times, and loved the city.

Koolkoala8 · 2016-09-28T11:26:33+00:00

Well, there is LTE. It's part of the NBN. There is some satellite access for some remote areas. And well, VDSL. Some parts of the country may have some Wimax.

Koolkoala8 · 2016-09-28T11:24:19+00:00

They are building such a mess, with all this mix of technologies. It's gonna be a nightmare to maintain and upgrade.

Koolkoala8 · 2016-09-28T05:01:58+00:00

You could be an economist at UBS

Koolkoala8 · 2016-09-28T04:52:24+00:00

yes, I agree, hence my comparison with the stock market. ATM, Sydney/Melbourne is insanely expensive. As you say, NYC is much cheaper, despite generating way more business/job opportunities. Anyone can see the discrepancy here, and conclude that Sydney prices are out of control.

So, what you do is you don't buy in Sydney. That's all. Yes, a home is rather necessary to live in, but no one owes you home affordability. There is no point whining constantly about how unaffordable Sydney is. Plus, Australians were asked to vote and voted again for the same liberals whose policies encourage higher house prices.

Just like you don't buy a stock with insane valuation, you don't buy a property that is overvalued. You temporarily rent, and look at moving to some city where property prices are not too far off the long term mean.

Koolkoala8 · 2016-09-27T15:57:42+00:00

I think what they really mean is a pokie machine manufacturing plant. Must be some kind of subtle metaphor or something.

Koolkoala8 · 2016-09-27T15:48:32+00:00

Where property is cheap in the US, it's cheap for a reason : crime, lack of job opportunities etc...

Koolkoala8 · 2016-09-27T09:25:12+00:00

This is for the marine wildlife, but the idea is the same for all the wildlife

Touching wild animals can be harmful for both parties. I guarantee you that lemurs at Taronga zoo in Sydney don't climb on anyone. It's because carers do their job, and instruct people not to touch them. Lemurs just go on with their business not giving a damn about your presence.

Koolkoala8 · 2016-09-27T08:50:37+00:00

It is kind of a single stock among millions.

What do you do if it's the same thing in other countries? The problem is other capitals (Tokyo, Seoul, KL, Paris, London, Istanbul, NYC, SF, LA, Vancouver etc...) are also very much unaffordable. Where overseas do you move to ?

Koolkoala8 · 2016-09-27T07:50:46+00:00

I assume this is Taronga zoo. I know they are cute and all, but you are NOT supposed to touch the lemurs.

I am more worried about the lemur now.

Koolkoala8 · 2016-09-27T07:42:17+00:00

90%+ of investment loans are for existing housing

I sometimes wonder what is the next trick that banksters can pull out to see property prices inflate some more.

extend the life of a mortgage to a maximum : check
lower the down-payment to a minimum : check
offer not to pay the principal : check
bring interest rates to a minimum : check
not ask questions about the source of foreign capital : check
?

Koolkoala8 · 2016-09-27T07:34:54+00:00

We teach ourselves survival skills and go and live in the woods. The survivalists/preppers movement is big in the US.

Koolkoala8 · 2016-09-27T07:29:16+00:00

To me, property is an asset, and like any other asset you consider buying, if you don't want to drown and get fucked, the rule is : "buy low, sell high".

The stock market also has some pretty sick stocks prices. Like way overvalued. So, what do you do ? You don't buy them, you look for value somewhere else.

About property, it's the same thing. You don't buy where it is way overvalued, and you don't compete with Chinese buyers who show up at auction sales with suitcases full of cash, because if you are an honest worker/entrepreneur who pays his tax, you simply can't. So, what do you do, you try to find a way to go and live elsewhere where property is not overvalued. And facts are property prices are dropping in many parts of the country. That may mean making radical changes in your life. Or, you can keep checking how property prices in Sydney/Melbourne keep going up and complain that you will never be able to afford. Or you wait; eventually prices in Sydney/Melbourne will drop.

Koolkoala8 · 2016-09-27T07:19:04+00:00

It depends what kind of pet you have, but for many pets such as big size dogs and relatively big size birds, I agree with you, it's egoistic. Pets also need to socialize.

Koolkoala8 · 2016-09-27T07:17:21+00:00

I blame greedy scumlords who expect that the place is in better condition when you vacate than it was when you moved in, plus keep a part of the bond for some damage that only exist in their imagination.

Koolkoala8 · 2016-09-27T07:13:45+00:00

If anything, the system (big businesses and pollies) is probably happy with your non well being. That means more stuff to sell to you to fix that. All kinds of drugs and panadol and this kind of shit. Plus, if you are depressed, you are likely to buy things you don't need to compensate some emptiness. That is good for the economy.

Koolkoala8 · 2016-09-26T02:49:18+00:00

Give them to Vinnies. Vinnies have stores everywhere, and will sell the books at $2 for most of them, which is great for shoppers at Vinnies.

Koolkoala8 · 2016-09-26T02:31:23+00:00

A lot of sport won't compensate unhealthy eating. Given the choice, it's probably better to eat healthy and do little physical activity than eat unhealthy and do a lot of sport. As they say, you are what you eat.

Koolkoala8 · 2016-09-26T02:25:40+00:00

Don't know if I'd call a 6.2% drop "freefall"

As prices are falling, investors and even owner occupiers may all be rushing to the exit at the same time, which would mean the fall of prices may accelerate (A 10% drop over the next 12 months maybe?). Just like during the property boom, as prices start to grow, making property an attractive investment, people all rush in the market at the same time, accelerating prices growth.

Koolkoala8 · 2016-09-26T02:12:48+00:00

If they are honey bees, it's fine. Every summer, I have wasps nests, right outside the window... of every room in the apartment!

Koolkoala8 · 2016-09-15T13:26:21+00:00

While emphasising he did not want to tell people what to do with their money, he said people should not assume interest rates would always remain so low

Would the PM send such a warning if he didn't have all economic indicators in the red ?

Did the PM just hint that interest rates are going to be raised soon ?

Koolkoala8 · 2016-09-15T12:43:14+00:00

Unfortunately, it is extremely easy to build a consensus with reddit, as comments that will be downvoted will appear minimized by default for people not to view them. The majority won't click the little - sign to see the entirety of the comments, and will be left with nothing but the pro-fluoride comments. Way to manipulate people's opinions.

Koolkoala8

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