Lost MILLIONS of dollars in property ... and still smiling

I am afraid someone will have to translate that for me.

It was like yesterday, I had to go into a bank to pay cash on a visa card. First time in over 10 years I have been into a bank with cash. First time in over 10 years I have had a 50 and first time I have had over 100 dollars cash. I had the ask the banking people how to bank. I felt like I had travelled back in time to the 90s.

 

I was on the phone with Kate a few minutes ago. They are not declaring bankruptcy or going into voluntary or involuntary administration - the media makes up all sorts of things

They have already been interviewed by 60 minutes and story coming out soon.

 

Says something about the magazine that chose them as investor of the year. What about Reckless Risk Taker of the year!

 

@Ace in the Hole had you heard about this in the media? I just assumed you were being a jokester

 

I don't joke about serious issues man.

 

When? Might have to find the remote, no doubt they'll be chit chat on here.
Any early predictions for their efforts. Haven't watched 60mins for a while but last time felt more ACA quality unfortunately

 

I'm sure it will help thousands of other people struggling through similar circumstances.

 

60 Minutes?

Maybe they will be part of this Sunday's show, one report of which has been mentioned elsewhere on PC?
The great aussie dream comes to an end

 

There are many going through it and many more who don't even know it yet.

 

Thanks for letting us know what happens at the end of the movie

 

Yeah, spoiler alert, gosh..

 

Funny, go see the movie, the good stuff is what I have not mentioned...

There are no spoilers.....the movie is about an event which occurred and the outcome has already been documented, no surprises here.

 

I think @Kate Moloney story is featured on 60 minutes tonight for those interested.
No petty bum fights please....Ignore this post if it's not your cup of tea



MTR

 

Thanks for reminding me, I'll be watching.

 

See rule 6

No Trolling

• Trolling refers to posts made with the sole goal of causing a heated reaction from other members and without any intent to add value to the community.

 

I have not read the book yet, but I looking forward to watching this and what actually happened and who got caught up with this etc etc.

I found out last Friday that a mutual friend who I had not seen for some time purchased $850K property in Newman, she retired from teaching, now back at work and having to rent her home to cover the mortgage... ouch.

I got curious and looked at realestate.com - mining towns in WA, Karratha, Newman, Pt Hedland, South Hedland, I was gobsmacked these houses have dropped around 45-50% in value, same with rents. Basically rents at boom time would have been around $2500 pw now around $500 pw. There are so many rental properties on the market in these areas I assume many stay vacant. Absolute disaster, try recovering from this.

 

Bob Shovel was referring to Angus and Robertson going into administration not Kate???

 

60 minutes tonight.
I don't have a TV so relying on someone to send me a link later .
Kate.

 

If you have an ipad or similar I think the Nine network have an app where you can watch missed shows from memory?

 

I'm sure there would be thousands of people caught up in this throughout regional WA and Qld.
Hopefully most don't hold numerous properties purchased in these locations in the last couple of years and got in when prices were lower.