Do you own it if it's not 100% paid off?

[stevew_zzr]

Well i say that you own it ... cause if you bin it, you have to fix it

i dunno ... there's heaps of people out there always wanting to 'one-up' you about what they have, or what they've done! If you are insecure about your own experience and self-worth then i guess these people 'one-upping' you all the time might be a bit bothersome, but personally i just don't give much of a s**t.

[SenNey]

What I want to know is....

Why the fuck do you people care what other people are doing? You've got your own life to live, so live it...

I so fucking agree

It's not about what they own, it's about how can someone be such a prick to a younger brother who is more of a man then this wanker will ever be.

Do you put people down for being able to pay for something out right?
Hell no , good luck to them i say.

[SenNey]

Well i say that you own it ... cause if you bin it, you have to fix it

i dunno ... there's heaps of people out there always wanting to 'one-up' you about what they have, or what they've done! If you are insecure about your own experience and self-worth then i guess these people 'one-upping' you all the time might be a bit bothersome, but personally i just don't give much of a s**t.

I don't care what people own, it's the people who are adament (sp) that they own it when in fact they don't.
(other words they rub it into peoples face who can't afford to buy the "toys" because they have enough brains to know there limits)

[stevew_zzr]

Simple solution - if this guy's a wanker - stop talking to 'im

[javaman]

Is it possible for one to pay house on cash (the working class please...) ?

That is the biggest and first debt I took and I don't like it But prior to buying the house I've been told that without a loan no one would be able to afford that ?

[Felix]

What I want to know is....

Why the fuck do you people care what other people are doing? You've got your own life to live, so live it...

Easy...


Because these friends often ask our advice, then do what they want to do anyway!

I really don't want to know...

[SenNey]

Is it possible for one to pay house on cash (the working class please...) ?

That is the biggest and first debt I took and I don't like it But prior to buying the house I've been told that without a loan no one would be able to afford that ?

My guess is yes, but after many many years.

With the prices of houses these days, i think the kids need to start saving at the age of 2

[robracer]

What I want to know is....

Why the fuck do you people care what other people are doing? You've got your own life to live, so live it...

Easy...


Because these friends often ask our advice, then do what they want to do anyway!

I really don't want to know...

Some friends you got there

[chameleon]

Forget about buying houses now! The housing market has been overinflated by around %140 and were at the peak of the market, the top of the biggest real estate bubble in the western world. This was aggravated recently by the 2001 stockmarket crash which forced investors into the "seemingly" safe haven of rental property investment. Half of my friends have bought 1 investment property, I know of people who have 3 and 4! This speculative demand drove the prices up and now greedy agents are trying to push rents up to match.

If you want a good primer on what's going down, download this pdf file produced from the University of NSW. I have uploaded it to the net because the original has been 'pulled' offline? The document is based on rental returns but if you read it through it gets to home price stats as well. It's quite an eye opener since all the assumptions currently held are based on data collected after 1970, with no regard to previous trends

http://www.yousendit.com/transfer.php?a ... 6967ADC05A good for 7 days only

But As to you question on buying a home for cash! Say homes were $150k or $100k as they were 5 odd years ago in a lot of brisbane suburbs. You get together with with 3 or 4 mates who know how to save and direct debit into a joint account for 2~3 years until you have saved up the needed funds in cash. You choose, buy, and all move in to share the house if that suits you? Then you do it 3 more times and in a decade or so you all own a home and you haven't paid the usual 3-times the amount that compound interest equates to. Sound crasy? It's what the Asians do, and their not stupid.

[stevew_zzr]

But As to you question on buying a home for cash! Say homes were $150k or $100k as they were 5 odd years ago in a lot of brisbane suburbs. You get together with with 3 or 4 mates who know how to save and direct debit into a joint account for 2~3 years until you have saved up the needed funds in cash. You choose, buy, and all move in to share the house if that suits you? Then you do it 3 more times and in a decade or so you all own a home and you haven't paid the usual 3-times the amount that compound interest equates to. Sound crasy? It's what the Asians do, and their not stupid.

I'd never even thought of that ... not a totally bad idea but then finding 3 people that could stand living with me won't be that easy

[SenNey]

But As to you question on buying a home for cash! Say homes were $150k or $100k as they were 5 odd years ago in a lot of brisbane suburbs. You get together with with 3 or 4 mates who know how to save and direct debit into a joint account for 2~3 years until you have saved up the needed funds in cash. You choose, buy, and all move in to share the house if that suits you? Then you do it 3 more times and in a decade or so you all own a home and you haven't paid the usual 3-times the amount that compound interest equates to. Sound crasy? It's what the Asians do, and their not stupid.

I'd never even thought of that ... not a totally bad idea but then finding 3 people that could stand living with me won't be that easy

Or you strike a deal with them.
You move in and pay rent+ mortgage
That way all of you are paying it off, but only one is living in it.
yes will cost you TWICE as much.

OR all buy it and rent it out, and still live at home with mum and dad.
My cousin has done this. Working well for him. He is only 20 but has had a full time job since 15.

Either way IME a house is a perfect investment, you always need somewhere to live. All the other fancy bits you can get in time.

[Duane]

If it's a unsecured personal loan, then you do own it, the money is not against the item you bought.

If its financed, then no, it's not yours, however

You actually do own these items

The house is in your name (deed, hence you own it) even though you got a morgage for it.

So it's a bit grey, but you do own these items you're just still paying for them

[Jonno]

*snip*

Either way IME a house is a perfect investment, you always need somewhere to live. All the other fancy bits you can get in time.

I agree totally, I just bought the house I was previously renting with a 1 brm flat attached which I now rent out and I also rent/ board out one of the rooms too, so in effect I am paying less than what I was in rent an I am pretty happy about that. 1 new bike and 2nd hand car included (to come) and in reality my tenants are paying for that

I don't know who to believe but estimations up here on the seachange coast (Coloundra, Maroochydore to Noosa) for one area, is expected to double property value in 5 years if not 10 years

They are saying a influx of another 260000 people in the next 5 years to the South East area and people need somewhere to live, that can only be good news for property owners IMO.

I suppose it all depends on the area you are referring too, I also have property in south east Victoria and i reckon it is the only place in Australia where property value has decreased

Anyway, i say you can't go too far wrong with owning property (with a bank)

[Burky]

House = Morgage No you paying off
Food(bought on credit card) = own

Thats how i look at it!

It's not about what they own, it's about how can someone be such a prick to a younger brother who is more of a man then this wanker will ever be.

Sounds familiar with some Pricks i know

[diesel]

it doesn't matter what type of loan you have, if you borrow money to buy something you still own it. period. who's name is on the title to your house? not the banks. that's why they need a mortgage. a mortgage is a charge that gives the bank the right to control the sale of the property to recover debt.

unless you don't honour your comitment, you own the house.
same goes for anything really.

but lets humor ur argument for a second.
if i rewrite my home loan to buy a new bike, do i own the bike???
really the only debt i have is a HL and that is less than the value of my home, so even though i borrowed money to buy the bike, i own it outright.

end of rant,
i'm with you on this one too jason