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35,472 Posts.

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11/06/17

23:46

Post #: 25223559
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Originally posted by danginvestor ↑

Scary. 52K households would likely default on their mortgages next year?

Know that scene in The Big Short where Steve Carrell's Eisman drop his jaw when a stripper told him she has 5 houses and a condo? I've been reading a few "insight" property articles on SMH/Domain and man, we're doomed.

I don't like to belittle or wish ill on those who does well for themselves. And it might sound like I'm all doom and gloom because I wanted others to fail but... I mean, Domain have a story where a 20 year old kid got some deposit from his mom to buy a property, then another, then another... and he's earning $50,000 a year before tax.

There's an Uber driver having 6 investment properties. There's this young couple having 9 properties, having paid some $3.4M on them and still owes $2.7M but somehow have "equity" of $2.4?

Anyone have any ideas on how we can shelter ourselves against this fallout?

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Go buy an avo farm in WA

rent a bushy bungalow for $120pw.

make $1m net + pa.

easy peasy

oh EDIT: short CBA whilst you're at it.

Last edited by Sector: 11/06/17
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