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Victoria's unemployment rate hits 13 year high at 7%; Rising unemployment, rising speculation and rising house prices, POP!
Topic Started: 7 Aug 2014, 08:57 PM (5,110 Views)
Jimbo
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Dr Watson
8 Aug 2014, 04:22 PM
Do you aspire to purchase your own home one day?
Of course, who doesn't want a tiny slice of the planet to call their own for an indeterminate period of time?

I bought a loaf of bread yesterday and it is behind me now.

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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lulldapull
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herbie
8 Aug 2014, 11:03 PM
To get rent off if they don't have a job but have cash and rental returns are better than bank interest returns?

Ask Mango's mum about it maybe? (She understands and I'm maybe starting to ... :) )
herbie, this was tried and tested in the U.S. & Japan for the last 20 years, and that test failed! tens of Millions of mortgages are underwater in both those countries.

the slow housing deflation has now commenced. Rents are dropping. Mine dropped by $20/week here in Melbourne. There are no fundamentals supporting a housing market. The economy is bankrupt!
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Poontang
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I don't believe umemployment rate has peaked in Victoria either...
There are some people who seem angry and continuously look for conflict.
Walk away, the battle they are fighting isn't with you, it's with themselves.

The first lesson of economics is scarcity: There is not enough of anything to satisfy all who want it.
The first lesson of politics is to disregard the first lesson of economics. ~ Thomas Sowell.

Who was the fool, who the wise man, who the beggar or the Emperor? Whether rich or poor, all are equal in death.
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lulldapull
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yeah, and what a refugee shame this Vic has become now Poontang.

Every time I go to the market I see so much poverty it just blows you away. It's like being in a third world country. Fucking corrupt gubment letting everyone in now.

This is the future here now.........no respect for education, no jobs, no industry and certainly no plan on how to manage this disaster.

Edited by lulldapull, 8 Aug 2014, 11:24 PM.
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Timo
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Poontang
8 Aug 2014, 11:15 PM
I don't believe umemployment rate has peaked in Victoria either...
Like the rest of Australia, but possibly more pronounced given the collapse in manufactoring!
After a bubble has burst, no one denies that it existed. But before it does, the popular refrain is that though bubbles existed elsewhere in the world, “there’s no bubble here”. So housing bubbles are admitted to have existed in Japan, the USA, Spain and Ireland – because they’ve already burst.
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Dr Watson
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lulldapull
8 Aug 2014, 10:55 PM
As usual Watson, in you naivety, you missed the gist of that comment. :lol

Now once again, why in the fuck would anyone invest in property when come tomorrow you might not have a job?

What part of.........the current combined unemployment/ underemployment rate hovering at around 20%.........do you not understand?

Are you a teenager? or a high schooler? Do you even work, or not yet?
Mate, all I said was if you're saving and investing your dough (in some other class of asset such as stocks or a business) then you're fine. Are you? But if you're pissing it up on travel/wine/pussy then you'll never get anywhere regardless of the economic conditions of the day. You can't use the 'stormclouds are on the horizon' justification for too much travel/wine/pussy.
Edited by Dr Watson, 10 Aug 2014, 01:10 PM.
The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt — Bertrand Russell
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lulldapull
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Watson, like I have mentioned a few times before it is only TD's in high yield foreign bank accounts, for me.

But that has fukk all to do with the state of the job market here in Australia. I don't indulge in Wine/ Pussy/ Ass or gambling, nor do most others here including you.

Now, like I have said a million times before.............. why in the fuck would anyone invest in property out of all things, when there are no imaginable jobs for the next 10 fucking years? :re:
Edited by lulldapull, 10 Aug 2014, 02:25 PM.
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Dr Watson
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lulldapull
10 Aug 2014, 02:23 PM
when there are no imaginable jobs for the next 10 fucking years?
You're forecasting a depression-like scenario. You see things only in black-and-white. You're dripping with contempt for anyone who doesn't share your view. Personally, I think a malaise is more plausible than a massive bust. Interest rates are too stable. But of course, that is a personal view.
Edited by Dr Watson, 10 Aug 2014, 04:02 PM.
The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt — Bertrand Russell
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lulldapull
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Excuse us Watson, but in all honesty, do you have a current job? :re:

Or are you a student?

Because it is hard for the rest of us to comprehend what else to make of 20% unemployment/ underemployment rate? :re:
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Timo
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Dr Watson
10 Aug 2014, 03:43 PM
You're forecasting a depression-like scenario. You see things only in black-and-white. You're dripping with contempt for anyone who doesn't share your view. Personally, I think a malaise is more plausible than a massive bust. Interest rates are too stable. But of course, that is a personal view.
Australia has had no depression for a number of decades now so are you fore casting an Australia immune to every market cycle which the rest of the world experiences? With all the indicators pointing to a severe downturn in income, an asset bubble of epic proportions and a lengthy period of only growth, what do you think is more likely? Malaise and ignorance is the reason we are in this mess!
Edited by Timo, 10 Aug 2014, 04:14 PM.
After a bubble has burst, no one denies that it existed. But before it does, the popular refrain is that though bubbles existed elsewhere in the world, “there’s no bubble here”. So housing bubbles are admitted to have existed in Japan, the USA, Spain and Ireland – because they’ve already burst.
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