‘Craziest’ market in 30 years: the impact of the global housing boom

It's doesn't make sense that when vacancies are low that people start pointing fingers and venting their anger at investors. We are the sole reason that there's rental properties in the first place!
Far out!
I think abit of logic and gratitude in the society would be appropriated! That guilty treatment by some in the forum and in the general public for providing an essential service is a mob mantality IMHO..

Anyways, carry on with the celebration of a well deserved win...

 

Gratitude? Haha! I'm too afraid to even let my parents and other family know about my properties. I almost never raise my personal circumstances, even though if I was to raise my situation for good intentioned purposes, resentment is often the emotion one receives.

"Be careful who you share good news with" JBP Rule 9

 

Most people are happy when they are the recipients of your generosity. They are naturally envious when they perceive you have received abundant windfall. Very few will venture and ask how they can similarly position themselves and duplicate the outcomes. Pride and ego hurt.

 

A lot of people are also very angry that some own more than one property, especially if they or their children are wishing to purchase one.

 

Entitlement 101. Someone else has something so I'm entitled to one too.

Ahhh no. You're not.

 

It's quite sad isn't it. I know a few family and friends who would have been in a perfect situation to invest as their incomes are quite good. Instead of asking how they also can do it which I am perfectly happy to share, they let envy and ego gets in the way. They often blame others for their inaction. I don't share too much anymore and avoided talking property,
I know that if I talk, I will likely to raise resentment.

 

That would be quite impossible for me to do. Not talk about real estate, deals etc. Since most of my friends and family are in business and invest. Plus why should I not talk about something I'm passionate about? Over the years I've taken a different approach. I only want to be around quality people. So if folks are gonna get envious, jealous, bitchy etc, I want to know about it so I can just move away from them asap. It allows you to sort through your real friends and garbage fairly quickly. That approach works for me.

In the end what usually happens is most of the folks around you and the ones who naturally become good friends tend to have a similar mindset to yours. And to some degree also have achieved much. But more so it's a mindset thing. It works for me because I don't have the patience to listen to folks whine, complain, act entitled, talk about inconsequential things in life. It just does my head in. I much prefer to keep friends who have a similar mindset and interests.

 

This!

I've mentioned this in the past....way back when we bought our first IP, we were excited and mentioned it at a family gathering. Lots of back slapping and congratulations were had. When we bought the second one, which was some years later, we again mentioned it to family. "Oh wow! You're doing good" was said, but less than the first time. Number three was bought and Hubby once again told family it went down with a lead balloon. "You're greedy! How many houses do you need?" etc. We've never mentioned our properties since, other than to one of Hubby's brothers who also invests, but even he has no idea how many we have.

 

It's hard to do when they are family. For the most part they are lovely people, they just don't share our passion, nor do they understand.

Although we've not shared any of our deals in over 20 years, they all know we've got property. Every so often someone might ask "how many you got now?" to which we'll say, "oh, a couple", then change the subject. Sometimes they might probe a little further, but we are careful and make sure that we play it down

They've seen us move up from my first dodgy home, to Lethbridge Park (believe it or not, that was an upgrade), then to St Clair. We stayed quite some time in Lethbridge Park where we built our foundation portfolio after nearly going bankrupt in Business, then when we moved to St Clair that was a big upgrade & we've stayed here for around 10 years too, so they haven't seen lavish displays of wealth thrown in their faces, heck, I only just bought my first NEW car in over 30 years recently, and I guess that's where you get the most jealousy from is where friends and family feel you think you are better than them.

We have some wealthy friends, but also some that are not, but you make a good point. Those who whine, complain or act entitled, are soon shown the door.

 

One of my best friends is a very successful investor in real estates also. It is uncanny that our thoughts align not only in property investments, but also in geo politics and domestic socio politics. It is mutually beneficial to draw on each others experience and knowledge, as is happening to a certain extent on Property Chat with likeminded forumers.

 

One of the problems with Australia is that there is a nasty culture of jealousy and hatred towards people who succeed at anything that isn't sport or music.

 

But not sure if you have noticed this…. But tall poppy syndrome is well and truly alive on PC. There are a number of threads posted here and instead of praise/admiration for a high flyer…..its quite the opposite. Humans, we are a flawed lot.

 

Not very often are they in PC as regular forumers are busy looking for investment opportunities or to brush up on skills. More often the discordant opinion holders are of the life philosophies that do not esteem highly of down to earth wealth builders. It is alright by me as long as they do not terrorise others. Their life and their choice!

 

Yeah nah, look. Storm in a tea cup. We see these sorts of things pop up from time to time: pandemic, virus, GFC, financial strife, economic turmoil crash, boom, etc... Key is to be able to adapt and pivot. Just order wood etc 3 months in advance and job done. Sales prices are rising like building costs, so u can still profit. Hi Arly, hope you and fam are going ok there. Simply to be heard and acknowledged might be all our colleague in property is looking for. I hear ya my friend. These are difficult times for many to be sure and we should remember that. I'm lucky to be working.

 

Completely agree but i think that comment is wasted here, so many honestly believe the zero sum game of govt sponsored money printing with wealth transfer to the landed has delivered deserved wealth. Unfortunately, it is what it is and you have 3 chouces 1) bet on the govt and try and get on the ponzi 2) bet on a rational market beating insane monetary policy and stay out 3) agitate for change. There is no rational choice im afraid as we live in insane times.

 

I must be mixing with the right people, no one outside this forum gives a rats what we own or our net worth etc etc

We are all a drop in the ocean

 

That said I find people are more interested in the houses I own. no one ever wants to see a screenshot of my Index fund portfolio

 

Real estate will continue to be an excellent long term performing asset. The rational choice is to get on board and invest for your future.

Ponzi scheme...bubble....monetary policy blah blah blah..

At the end of the day its all BS. Invest when you can afford to. Buy value.

Real estate will over the long term, increase in value. The better the deal you can secure (via experience, skill and a tad of luck), the better the potential returns. Risk is [generally] low. Real estate forming part of a wealth creation strategy makes great sense to me.

Ignore the guru economists, socialists, entitled naysayers, detractors and anti capitalists. They have their own agenda where wealth creation aint high on the list.

 

if mortgages were at 8% would prices be anywhere near their current levels? Of course not. Growth over the past 25 years is primarily driven by monetary policy not intrinsic value via rental growth. It is what it is, but to generate anywhere near the same growth over the next 20 years require more and more inflationary monetary policy. People should be aware this can end and could end nasty.

 

Been hearing similar or worse since I started investing 20 years ago.

Real estate (like any investment) can't guarantee a great return. I am not suggesting in the next 30 years everyone who invests in real estate will do exceptionally well. Just because you invest in any asset class doesn't guarantee returns.

BUT if people are willing to learn a little...then take some measured action over time, the chance for above average returns with a long term view is quite good.

And yes, it does require you to ignore all the noise.