Weekend Reads – Must see articles from the last week

There are more interesting articles, commentaries and analyst reports on the Web every week than anyone could read in a month.

Each Saturday morning I like to share some of the ones I’ve read during the week.

Monday will be here before you know it, so enjoy some weekend reading…and please forward to your friends by clicking the social link buttons.

Top five financial mistakes people make

One of the most common life goals we all strive for is financial freedom.

But according to the latest article from Money Magazine that is becoming more difficult thanks 5 top mistake.

Some of the biggest financial mistakes are also the most common and they can cause hardship in the long term.

Here are the top five, with tips on how to avoid them.

1. Not having a budget
No matter how much a person is earning, without a budget they don’t have control over their money and can’t get a grip on their everyday spending and cash flow.

2. Credit card trapclouds money dream dollar goal
Anyone who continues to buy today with tomorrow’s money is heading towards the big dipper of debt that can take a long time to climb back up from.

3. Neglecting insurance
Figures show that at least one in five Australians aged between 21 and 64 will be incapable of working at some point because of an unforeseen accident, injury or illness, and yet almost 95% of the population is underinsured.

4. Planning retirement too late
Retirement might seem light years away but as time goes by people get caught up with buying a home, raising a family, renovating, paying for kids’ education.

5. Putting all your investment eggs in one basket
For people who have worked hard to save a lump sum to invest for their retirement, one of the financial disasters that could strike is if their investment is going nowhere but south.

Find the full article here

How to create wealth in any market + Do you really need an agent?

Another great Real Estate Talk show  produced by Kevin Turner.

In this show:

  • Michael Yardney explains why it’s not too late to jump onto the property cycle and that you can create wealth at any point in the cycle.
  • Mark McCrindle says while generational warfare over property is nothing new, the vagaries of the argument have changed.
  • Kylie Davis answers the question –  do a property seller and a buyer really need an agent to connect and mediate the selling of a property?
  • Shannon Davis give us some details about what you need to be watching out for and how you can protect yourself when renting out your investment property.
  • Carolyn Parrella who is the executive manager for Terri Scheer Insurance discusses how you can protect yourself as a landlord.
  • Katie King a young investor, tell us her property investment story and what advice she would give young investors

If you don’t already subscribe to this excellent weekly Internet based radio show do so now by clicking here.

Cities mop up population growth as regions stall

It would seem the cities are dominated by population growth according to the latest blog from Pete Wargent.

If you’ve been reading this blog for a few years now, you may recall that although it wasn’t the central hypothesis or base case, I have previously highlighted a possible scenario whereby a dearth of employment opportunities and infrastructure investment could see population growth in regional Victoria fall to zero over the next few decades.

Well, we aren’t quite there yet, but strewth we’re getting pretty close, and much sooner than had been anticipated.


Read the full article here

The U.S.’s Most Expensive House Hits the Market for $159 Million

Extravagance has hit new levels for the housing market in the U.S. according to an article in time.com with a property listing at the highest price ever.

It’s got 6 waterfalls, a 30-car garage and 2 new guesthouses under construction.

Le Palais Royal

Le Palais Royal

It’s not exactly shocking that home prices keep soaring.

What’s a little more surprising is that a house that didn’t sell for $139 million last year is back on the market for an additional $20 million this fall.

Should it sell for its new $159 million listing price, it would be the most expensive sale in the U.S. ever.

Modeled after the Palace of Versailles, the 65,000-sq.-ft. Le Palais Royal is located on 4.5 acres in Hillsboro Beach, Fla., and comes with six waterfalls (one of which is 25 feet tall), a $2 million marble staircase, a heated plunge pool, a 30-car subterranean garage, a 3,000-bottle capacity wine cellar, and a 1,300-gallon built-in aquarium, according to the Wall Street Journal.

Click here for the full article

APRA bank warning over investor home loan switch

Recent changes to loans have created strong warning from the APRA to the banks according to abc.net.au.

The big and sudden switch of mortgages being reclassified away from investment to owner-occupier loans has drawn the ire of the banking regulator, the Australian Prudential Regulation Authority.

APRA has written to the banks noting that data had to be consistently and accurately reported.

“A number of ADIs (Authorised Deposit-taking Institutions) have recently reported significant changes in housing loan purpose between investment and owner-occupied,” APRA’s head of data collection Barton Ashcroft observed.

“Where the change in loan purpose is not reported correctly, APRA, the Reserve Bank of Australia and the Australian Bureau of Statistics are impeded in accurately ascertaining the underlying movements in housing loans.

Click here for the full article

Weekend video: Encouraging words about 3 key life skills


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Michael is a director of Metropole Property Strategists who create wealth for their clients through independent, unbiased property advice and advocacy. He's been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit Metropole.com.au

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