Straya!

[macdoc]

Like this in Cairns

Could you be anymore puerile?

[Hermit]

Millionaires?? ....wait til the housing bust comes ....

Housing busts come and go. House prices fell in 17 of the past 50 years. The most spectacular busts occurred in 1973/4, where the housing index dropped 59% below 1972, and 2008, where it finished 43% down on 2007. Drops were in double digit territory on eight other occasions.

In the same timespan real estate price rises averaged 6.3% year on year. Short term fluctuations don't affect your financial state unless you are forced to buy or sell within a tight time frame, and often not even then. If you sell your home in a depressed market you are likely to buy another in the same market. Same goes for boom times.

[Brian Peacock]

Millionaires are too big to fail.

[Hermit]

Millionaires are too big to fail.

You misspelt 'multi-billionaires'. Most of the 9.4% of Australian adults who are millionaires, are so by virtue of owning a hovel in inner Sydney or Melbourne. I bought a tiny Newtown terrace for $154,000 in 1992. A decade later came the yuppie invasion, so I sold it in 2005 for half a million. Now you can't buy a thing in that street for under $1.5 million, and that is for a 5 x 30 plot with a single-story 2 or 3 bedroom 1 bathroom terrace on it. Lawyers, doctors, architects and start-up entrepreneurs love them.

[NineBerry]

Millionaires are too big to fail.

You misspelt 'multi-billionaires'. Most of the 9.4% of Australian adults who are millionaires, are so by virtue of owning a hovel in inner Sydney or Melbourne. I bought a tiny Newtown terrace for $154,000 in 1992. A decade later came the yuppie invasion, so I sold it in 2005 for half a million. Now you can't buy a thing in that street for under $1.5 million, and that is for a 5 x 30 plot with a single-story 2 or 3 bedroom 1 bathroom terrace on it. Lawyers, doctors, architects and start-up entrepreneurs love them.

So, trickle-down-economics works after all!

[Hermit]

Millionaires are too big to fail.

You misspelt 'multi-billionaires'. Most of the 9.4% of Australian adults who are millionaires, are so by virtue of owning a hovel in inner Sydney or Melbourne. I bought a tiny Newtown terrace for $154,000 in 1992. A decade later came the yuppie invasion, so I sold it in 2005 for half a million. Now you can't buy a thing in that street for under $1.5 million, and that is for a 5 x 30 plot with a single-story 2 or 3 bedroom 1 bathroom terrace on it. Lawyers, doctors, architects and start-up entrepreneurs love them.

So, trickle-down-economics works after all!

What exactly is the connection between transitioning from renting to buying a roof over one's head and the notion that some of the profits by the rich trickle down?

[NineBerry]

Look how this billionaire uses his wealth to inform the poor deluded masses:

https://amp.smh.com.au/politics/federal ... 582ju.html

[Brian Peacock]

[pErvinalia]

What the hell is that?

[Hermit]

What the hell is that?

Lex Greensill, born in Bundaberg, Q, became a billionaire by devising iffy financial concepts that had more than a passing resemblance to Ponzi schemes. When his company collapsed a couple of months ago, its debt was believed to be on the wrong side of the $5 billion mark. Fraud investigators are moving in on it and him personally.

[Brian Peacock]

What the hell is that?

Yo' Mama.

[NineBerry]

So, Australia has a hairdressers problem?

[Brian Peacock]

[NineBerry]

I mean the disease spreading hairdressers.

[JimC]

Well yes, an exclusive hair salon in Sydney was a major exposure site. The ladies who lunch are absolutely devastated...