Powered by MOMENTUM MEDIA
moneymanagement logo
 
 

No dunny but lots of money

31 March 2015
| By Outsider |
image
image image
expand image

Outsider has ignored the debate about housing prices because it seems that everyone and their dog has an opinion on the subject.

However a news item in a mainstream paper about a house on Sydney's northern beaches selling for $100,000 over its reserve price has brought his mind back to the subject.

You see, it was not that the fibro house outsold its reserve price, it was that the reserve price was $1 million - and the house didn't even have an inside toilet!

According to the newspaper report the house was still in its very original 1940's condition, which included an external laundry and toilet accessible under a covered pergola at the rear of the house.

Outsider still remembers the old days of out-houses and the night soil-man and is staggered that people would pay that much for a piece of nostalgia!

His chief memory of the outside ‘dunny' was being petrified of finding a red-back on the toilet seat or being caught short of folding paper half way through a visit — something with which the recent successful auction bidder had no trouble it seems.

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...

3 weeks 2 days ago

It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...

4 weeks 2 days ago

So we are now underwriting criminal scams?...

7 months ago

After last month’s surprise hold, the Reserve Bank of Australia has announced its latest interest rate decision....

3 weeks 4 days ago

WT Financial’s Keith Cullen is eager for its Hubco initiative to see advice firms under its licence trade at multiples which are catching up to those UK and US financial ...

4 weeks ago

While the profession continues to see consolidation at the top, Adviser Ratings has compared the business models of Insignia and Entireti and how they are shaping the pro...

1 week 2 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND