Employment is in Free Fall Entire Automotive Sector being CLOSED
Government has entered Care take Mode
Commercial and Residential Real Estate reeling from
Incredibly high vacancy rates !
Don't know wat the Bulls are smoking but they really should
start sharing it around
I can tell about commercial vacancy rates in Sydney, it seems to me that they are very high. I was driving in North Sydney yesterday, and then along the pacific highway away from the CBD. (if you don't know, north sydney is a big business district, heaps of high rise there, it's just after the harbor bridge). Seriously, there are "for lease" signs every 20m. Each building has a "for lease" sign outside in front. drive around the CBD, in close suburbs, along paramata road, there are so many "for lease" signs. I can't remember how that was in the past, as I never really paid attention to that. But I don't believe there were so many vacancies. It's not only about retail selling clothes or furniture. I have seen hotels (those places selling liquor, entertainment and stuff) closed down too. A lot of other shops that are not for lease will be very soon, if I judge by the amount of dust that you can see from outside. I'm talking about premium places here, within 5km from the CBD. not backlanes, not remote suburbs far away from the CBD. If you don't believe, do drive around and see by yourself.
for the speculation to keep going, there has to be locals who can afford. if so many businesses close down, as it seems to be the case, locals can't afford to pay for those crazy rentals/sales. Australia has a lot of foreign migrants. when migrants who have started their own business here don't do well enough, i believe they move back to their country. what other option do they have? they don't stay here, sharing an accommodation, or renting a smaller space. my point is if businesses close down in bulk, we should see more residential vacancies too.
Regardless of which side you land of (bull or bear), I think we can all admit that the housing situation in Australian is not healthy.
That there is an overreliance on the housing sector is not in doubt. That it would be in Australia's long-term interests to diversify away from it is not in doubt. The thing is though, people have been saying this for fucking years and years and the authorities keep finding fresh ways to keep the music playing. Just when you think all the tracks have been heard, the pollies/bankers pop another CD in and we all resume dancing again. Now that grease-ball Nick Xenophon has emerged from his piano with a fresh score for us to dance to. Before our superannuation funds are exhausted, another pollie/central banker/grease-ball will have composed another new tune. When will the music ever stop playing?
That there is an overreliance on the housing sector is not in doubt. That it would be in Australia's long-term interests to diversify away from it is not in doubt. The thing is though, people have been saying this for fucking years and years and the authorities keep finding fresh ways to keep the music playing. Just when you think all the tracks have been heard, the pollies/bankers pop another CD in and we all resume dancing again. Now that grease-ball Nick Xenophon has emerged from his piano with a fresh score for us to dance to. Before our superannuation funds are exhausted, another pollie/central banker/grease-ball will have composed another new tune. When will the music ever stop playing?
Not in any of the bears lifetime, that is for sure.
That is why they have emphatically lost this bet.
Yet like an insane person they keep bleating on about a crash about to happen.
The door has already begun to shut on majority home ownership.
The next phase of the transmutation is that once a majority are forced to rent, the rent gouging will start in earnest.
These twits will be stupefied at the magnitude of their error in judgement.
Regardless of which side you land of (bull or bear), I think we can all admit that the housing situation in Australian is not healthy.
You pride yourself in offering objective market analysis , with stats to promote credibility.
Yes, it's important but it's also important to get the feedback on the ground & actually see for oneself what's happenning in their own city. You do get the feed back from the big wigs, who in it Developer/Builders etc who in the cold face day in & out. I've got the means on a personal level to get that.
Stats does only does one component. Stats is not everything.
I never grew up with this bull/bear label crap it means nothing to me . It's about realism in that one cannot control the market forces, but can understand the logistics.
Not all property is created equal peoples situations can be negative or positive.
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.
The next phase of the transmutation is that once a majority are forced to rent, the rent gouging will start in earnest.
this would be a massive policy failure.. it t would pull the rug out from under the australian economy by limiting spending power and likely be catalyst for drawn out recession ...
once ( IF ) the majority are forced to rent, policy would assumingly be shifted in favour of renters - as thats where the votes will be coming from.
these fantasies of becoming some property magnate lording over your tenants is a low percentage scenario...
The next phase of the transmutation is that once a majority are forced to rent, the rent gouging will start in earnest.
These twits will be stupefied at the magnitude of their error in judgement.
It's you who will be stupified, gob smacked when a labour government comes to power and revives the old rental controls of the 1950's. You will be trapped, unable to sell and still owing a fortune to the banks. Get ready to bend over bp, a big arse reeming is coming your way.
Shadow was hopelessly wrong about the Gold Bull Market. What else is he wrong about?
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