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Iron ore - supply and demand rides again
Topic Started: 30 May 2014, 03:23 PM (44,264 Views)
Jimbo
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Mustapha Mond
17 Sep 2014, 08:32 PM
What do you really think will happen to house prices in Western Australia with the loss of all those VERY high paying jobs??

Peter
50% drop in rents coming.
According to some they will be absorbed by retail and home construction. Maybe so, but not at $150k plus a year they won't.

Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be :?: rising.
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Robo
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Jimbo
17 Sep 2014, 09:11 PM
According to some they will be absorbed by retail and home construction. Maybe so, but not at $150k plus a year they won't.
The hourly rate is no different for a trade in the city.
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lulldapull
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Those 'some' Jim are full of shit, if they believe these tens of thousands will be absorbed by retail and shit house construction!

The question to ask is, with gubment coffers drained of the last drops of blood in all states, not just WA, where's the money for all this construction gonna come from??whose gonna pay for it?? :lol

We're headed for hardcore austerity, entitlement cuts, welfare, education and medical slashing.........big fuckin time. A lot of that is already happening.
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Jimbo
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lulldapull
17 Sep 2014, 09:30 PM
The question to ask is, with gubment coffers drained of the last drops of blood in all states, not just WA, where's the money for all this construction gonna come from??whose gonna pay for it?? :lol

Perth has a bit of a residential construction boom going on. Building houses for people who signed up a year ago when they thought it was going to last forever. We are also chucking up apartment buildings in the city to cash in on all the short term overseas executives and engineers that are no longer coming here.

Not sure what will happen to house prices and rents once all this new stock comes online. Something to do with supply and demand I imagine.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be :?: rising.
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Ex BP Golly
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John Frum
17 Sep 2014, 07:36 PM
You keep coming up with floors and they keep getting smashed!
Once The pelvic floor goes. ....it all prolapse from here
Jimbo
17 Sep 2014, 09:11 PM
According to some they will be absorbed by retail and home construction. Maybe so, but not at $150k plus a year they won't.
Whoopeee!

Swapping export dollars for domestic consumption on a non productive sector.

That will fix all our toubles lol.
Edited by Ex BP Golly, 17 Sep 2014, 10:02 PM.
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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newjez
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John Frum
17 Sep 2014, 07:36 PM
You keep coming up with floors and they keep getting smashed!
I did say ' for now'.


Tbh, I'm not bothered if it sinks through the floor, but there are solid reasons why it won't. Christ, someone has to do timmy's job for him.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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lulldapull
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yeah we all know what happened to timmy, that little piece a shit. :lol

bhp axed more than 50 people from port headland operations alone last week:

http://www.businessspectator.com.au/news/2014/9/17/resources-and-energy/bhp-flags-port-hedland-job-cuts
Edited by lulldapull, 17 Sep 2014, 11:41 PM.
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Foxy
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Zero is coming...

lulldapull
17 Sep 2014, 11:33 PM
yeah we all know what happened to timmy, that little piece a shit. :lol

bhp axed more than 50 people from port headland operations alone last week:

http://www.businessspectator.com.au/news/2014/9/17/resources-and-energy/bhp-flags-port-hedland-job-cuts
There was 50 people left in Hedland :D ??

Peter
You may see iron exports stop.
There is a real reason.
But lets see what happens.
Just note that.
Peter
Edited by Foxy, 18 Sep 2014, 12:54 AM.
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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Lef-tee
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Jimbo
17 Sep 2014, 09:11 PM
According to some they will be absorbed by retail and home construction. Maybe so, but not at $150k plus a year they won't.
The level of absorbtion will be strongly influenced by the extent to which they owe their existence to the demand created by all those $150k+ workers spending their incomes I imagine.

There would be significant numbers of non-mining sector jobs in Perth that exist simply because so many very highly paid mining sector jobs exist in the same place - the wages of many pub staff for example in Perth are the wages the mining worker who has spent them back into the local economy. And the high wages of the mining worker are part of the gigantic surge of investment spending by mining companies. Remind me again what is happening to that investment spending.

So it is pointless to deny that the WA economy is heavily plugged into mining investment and all the jobs it creates. To exactly what extent this is the case and how much it can be offset with spending from other sources we will just have to wait and see.
Not saying that you are denying it Jimbo, I can see you understand what's going on. But not everyone gets it.
Edited by Lef-tee, 18 Sep 2014, 07:23 AM.
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Foxy
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Zero is coming...

30 years ago i was taken on a mine tour by an iron ore mine manager.

There could be a very real reason we may have the industry stopped.

I hope not.

Think of the coal.

Peter
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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