I can't see a crash happening at all. We don't have enough supply in the high demand areas (except for a few places that have too many luxury units).
So says the bloke holding eight or so over leveraged properties in Canberra, where prices and rents are already crashing. Canberra prices down 5% in June quarter, you bulls like to anualize things, how's that work out. Throw in the rents drops too.
"The Australian Tax Office is not softening on the timeline for its job cuts despite being asked to slow down its second redundancy round, in which almost another 2000 workers will go out the door between now and October."
So says the bloke holding eight or so over leveraged properties in Canberra, where prices and rents are already crashing. Canberra prices down 5% in June quarter, you bulls like to anualize things, how's that work out. Throw in the rents drops too.
Two problems ted: 1) My properties are not over-leveraged, if anything they are under-leveraged (you know, when the LVR gets down below 50%) 2) Just done another rent renewal this week - rent stayed the same. In the last 8 months that makes 5 renewals - 2 up, 2 even, 1 down. Hardly crashing...
Articles are nice, but they're designed to sell advertising. What's really going on the ground can be quite different for some.
But keep making shit up, it's quite entertaining. I'd recommend digging upwards at some point, but that's entirely up to you.
Two problems ted: 1) My properties are not over-leveraged, if anything they are under-leveraged (you know, when the LVR gets down below 50%) 2) Just done another rent renewal this week - rent stayed the same. In the last 8 months that makes 5 renewals - 2 up, 2 even, 1 down. Hardly crashing...
Hey
I've just sorted out going from 2 to 1 RE agency managing the properties.
Have you been successful in haggling a discreet reduction when renewing the "Excusive Management Authorithy"?
I've managed to get a fair wack of discount with the management fees percentage.
I played it difficult with 1 agency by not signing the documentation until I got what I wanted... Because if you are ok with their overall performance then they should eventually be keen to continue the bizness relationship.
You've alwys got to keep any eye on things as its not always perfect but why pay more when you can get a discount for multi properties.
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$ It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do. Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
Honestly this childish spoilt brat behaviour is ridiculous. This country has been lucky enough to get $100bns invested in mines that will produce for years to come. Providing job, taxes and royalties.
Yet you cry like a baby because these massive mines and gas facilities etc are now nearly complete and ready to produce.
Most Countries in the world would be darned grateful for such plentiful resources and such investment.
Definition of a doom and gloomer from 1993 The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
Next Quarter and Next Year taking an early lead as usual...
Nobody can say when exactly it will happen , only that it will happen.
We have one of the largest housing bubbles in the world.
They always pop eventually, its simply a matter of time.
I have to agree with this. While there are many ways to fudge data to show a particular opinion, we are all familiar with the practice, in the end people know, they just know in their gut from the obvious evidence around them.
The truth is the average Australian is struggling to afford a house and to many they are simply a dream they will never attain now, at least at current prices. If you compare median prices in every capital city here they are well above their counterparts in many US states. The median home value in Denver is $264,100 The median home value in Houston is $128,100 The median home value in New Orleans is $163,000
We have a small market and small markets are subject to big shifts. Our big shift up occured for several reasons but no one would challenge the fact that the huge influx of investors in the past 10 to 15 years has been the major one. When everyone insists on owning 2 houses prices can not help but go up and up and up.
The Australian Tax Office is not softening on the timeline for its job cuts despite being asked to slow down its second redundancy round, in which almost another 2000 workers will go out ...
A Million government workers went on strike in England the other day over austerity. The whole rotten system is going to come down one day soon. You just can't prop it up forever, even if we had an abundant cheap energy source, which we don't anymore.
They should have listened to the boys at MIT back in the 70's and gone for austerity then. Would have been a lot less painful then what we're facing now.
Shadow was hopelessly wrong about the Gold Bull Market. What else is he wrong about?
I've just sorted out going from 2 to 1 RE agency managing the properties.
Have you been successful in haggling a discreet reduction when renewing the "Excusive Management Authorithy"?
I've managed to get a fair wack of discount with the management fees percentage.
I played it difficult with 1 agency by not signing the documentation until I got what I wanted... Because if you are ok with their overall performance then they should eventually be keen to continue the bizness relationship.
You've alwys got to keep any eye on things as its not always perfect but why pay more when you can get a discount for multi properties.
I won't enter into any exclusive agreements. My deal with my agent in Canberra is they handle my ACT properties (never signed for exclusivity though) and I have a NSW agent to handle my NSW properties. One charges 6.6% the other 8%, I get my biggest discount where I have the most properties.
Two problems ted: 1) My properties are not over-leveraged, if anything they are under-leveraged (you know, when the LVR gets down below 50%) 2) Just done another rent renewal this week - rent stayed the same. In the last 8 months that makes 5 renewals - 2 up, 2 even, 1 down. Hardly crashing...
Articles are nice, but they're designed to sell advertising. What's really going on the ground can be quite different for some.
But keep making shit up, it's quite entertaining. I'd recommend digging upwards at some point, but that's entirely up to you.
Reality kicking in yet stinky, won't be long now, if it hasn't already.
Few problems stinky.
You say, you are not over leveraged and think you are not. But most clowns thinks they are not over leveraged even with 5% down.
What almost 50%lvr, your poor, what about all the rest.
You are going through Tennant's quicker than dunnypaper. If you did not get a drop, you know as well as I do that you have been very lucky, this time round. No improvements happening with the economy stinky, just years of decline in the pipeline with no end in sight whatsoever.
And your comment about articles being designed to sell. One was from the Canberra times, these type of papeds are usually doing what you say, but by spriuking realestate. The problem is , things are so bad, thats its hard to hide the truth anymore, so instead of make themselves look like complete idiots are forced to tell the truth to some extent. On that note, we can then asse that things are being downplayed form the real falls going on. With prices down 5% in june quarter , and rents down what, 10-20% since krudd came in. Just get better right stinky.
So all the reports are just fantasy stinky? They are all wrong and you are right.
Great thread shadow, the bulls just keep shooting themselves in the foot these days, right Peter
I would say your poll is starting to scare the bullish sheep out there.
I won't be voting , as I am a guest speaker here.
But the other problem is, none of your variables had the correct answer to acknowledge, which is, the crash has already begun, but most are to stupid to see or realize this.
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