Then let's see how things pan out over spring and summer, then we shall see who is right or wrong.
It is all those thousands of transactions you talk about that I tap into, prior to any data providers looking at the data. Hence why I am ahead of the curve. It's why I often see market movements months ahead of most other people.
Keep in mind I have a vast network of professionals in many different areas of real estate and finance. It is this huge network that acts like a huge web that catches data, I simply filter it and add my own analysis to it. It's not just a prediction, I invest millions of dollars based on my hard work to gather this information. I don't have time to wait for data providers or media to say which way a market is moving, that is many months late and then everyone else will also know.
I a already preparing for a softer market in the coming years, increasing my cash flow so I can secure more land when prices ease. This will provide the land for my next series of developments over the next 5 years.
glib is the only word to describe the nonsense that spouts from your head Mike.
"It were not best that we should all think alike; it is difference of opinion that makes horse races." - Mark Twain on why he avoids discussing house prices over at MacroBusiness. "Buy land, they're not making any more of it." - Georgist Land Tax proponent Mark Twain laughing in his grave at humourless idiots like skamy that continually use this quip to justify housing bubbles.
glib is the only word to describe the nonsense that spouts from your head Mike.
If it is non sense then I will let results speak for themselves. I have stated my position.
If I am correct then you will know what I say is true, if I am wrong go on ignoring me as you do anyway.
If I am correct though, ask yourself how does some one get most calls right most of the time. Pure good luck or perhaps that person may know a little about what they say, just maybe.
If it is non sense then I will let results speak for themselves. I have stated my position.
If I am correct then you will know what I say is true, if I am wrong go on ignoring me as you do anyway.
If I am correct though, ask yourself how does some one get most calls right most of the time. Pure good luck or perhaps that person may know a little about what they say, just maybe.
Err. Maybe because they don't make calls in advance, they just claim to have made them after the event.
Go on Mike, for the record, price movements in Perth as a percentage between now and Jan 31st 2015?
It should be easy for you with your vast network of insiders acting like a net to drag in information months in advance of ABS, RP data and so on.
Tell us now, then on January 31st 2015 we will see how right you are.
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.
Err. Maybe because they don't make calls in advance, they just claim to have made them after the event.
Go on Mike, for the record, price movements in Perth as a percentage between now and Jan 31st 2015?
It should be easy for you with your vast network of insiders acting like a net to drag in information months in advance of ABS, RP data and so on.
Tell us now, then on January 31st 2015 we will see how right you are.
I know you are newish to these forums. Many of the longer term posters know I posted well in advance of any media or data regarding Perth price movements. BP also called the market correctly long prior to any data or media.
I have already stated my view point. I expect to see between 3-5% growth over Spring/Summer which takes us to March 2015. After this I expect the market to slow and stagnate for a few years.
There is no trick to this, a lot of hard work, sitting at your key board wishing it was not so and posting on a forum is not hard work and changes nothing.
I have stated my view point, what is your view point up to March 2015 and beyond. Give me a % of growth or falls you expect to see on your information.
Then we can revisit this and see who really understands what they are talking about. Give us some figures so we can all hold you to account. My predictions have been around for years for everyone to talk about, only problem is I have been mostly right.
I know you are newish to these forums. Many of the longer term posters know I posted well in advance of any media or data regarding Perth price movements. BP also called the market correctly long prior to any data or media.
I have already stated my view point. I expect to see between 3-5% growth over Spring/Summer which takes us to March 2015. After this I expect the market to slow and stagnate for a few years.
There is no trick to this, a lot of hard work, sitting at your key board wishing it was not so and posting on a forum is not hard work and changes nothing.
I have stated my view point, what is your view point up to March 2015 and beyond. Give me a % of growth or falls you expect to see on your information.
Then we can revisit this and see who really understands what they are talking about. Give us some figures so we can all hold you to account. My predictions have been around for years for everyone to talk about, only problem is I have been mostly right.
OK Mike,
I have just been to look at a $389k property. It is a 3x1 on 650m2, 1980's build (a bit small). Excellent decorative order, 400m from the beach in Waikiki. Ideal for a 1st time buyer or investor.
Very tempting. However, much closer to the beach is a two storey property on 850m2 with up to date features, excellent concrete pool and ocean glimpses for $599k. This same property was listed at 1.2 million in 2007 and 800k in 2011. They turned down 850k in 2007 (I made the offer).
It has been on at $599k for six weeks.
So the difference between a starter home and a luxury dwelling has been reduced from 700k to 210k in a matter of a few years.
This is not an isolated case either.
Mid to top end houses in Perth were pumped by big earning, mining related jobs and now they are being deflated by the reduction in requirements for the same workers.
The bottom end is staying afloat because although expensive, it is just within the reaches of non mining related workers.
We now have two markets in Perth. The bottom end is in touch with reality and the top end is about to discover reality.
So my prediction. Bottom end to stay stable or increase with inflation for the next six months. Top end to crash back below the trough of four years ago (and maybe more).
Mike
17 Aug 2014, 03:13 PM
I know you are newish to these forums. Many of the longer term posters know I posted well in advance.
Those longer term posters are all jumping to your defence right now and I hate to think what will happen to me when your many blog followers all start to pile in as well.
I am new to this forum thingy. I bow to your platinum membership status I hope that one day, I am considered worthy of attaining the dizzy heights that you have along with the perks that go with it.
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.
glib is the only word to describe the nonsense that spouts from your head Mike.
You have nothing to add to this debate, except the fact that you are hanging on to your grim fairy tales about Australian property. You have no knowledge or expertise in the WA market at all, have you?
It is now clear that the bears were wrong about this country, it never had a property price bubble and it is nothing like the few countries that experienced price crashes.
Your last hope of visiting doom on homeowners in this cycle is this bear fantasy festival on a gloomy time for WA. These posters have been spruiking a Perth crash for years and they have been wrong for years. Both Mike and I are building selling and renting in the market yet they sneer at what we tell them.
I sold a house a few weeks ago after 1 open and 28 groups thro at $75,000 more than we budgeted for when we had real estate agents through before we began the build. My buyers sold their house on their first home open with several offers. Then I come on here and hear such silly nonsense about Perth. It would make me laugh but for the fact that this fear and lies could severely effect the long term financial future of young people.
If a young person want to be a homeowner then they should actively research the market for themselves and stay away from property spruikers who claim huge profits if you buy now or huge savings if you wait for some speculative future event.
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.
It is now clear that the bears were wrong about this country, it never had a property price bubble and it is nothing like the few countries that experienced price crashes.
That remains to be seen. The future hasn't happened yet.
skamy
17 Aug 2014, 04:51 PM
Your last hope of visiting doom on homeowners in this cycle is this bear fantasy festival on a gloomy time for WA. These posters have been spruiking a Perth crash for years and they have been wrong for years. Both Mike and I are building selling and renting in the market yet they sneer at what we tell them.
You are getting a bit hot under the collar there. Do you really think that anything posted on a forum is going to impact the market more than actual market conditions?
Do you really think that because Mike says prices will go up, they will go up because he posted it on a forum that a few people read?
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.
That remains to be seen. The future hasn't happened yet.
jumbo that is not the way it works, even a broken clock will be right twice a day. The GFC has been and gone and Australia did not crash like Ireland therefore it's economy was not the same as Ireland and it did not have a bubble like Ireland.
Now tell me what is your view are you predicting a mass sale of investor properties or a mass sale of luxury properties? They are two entirely different markets , luxury property do not make good investment properties.
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.
If a young person want to be a homeowner then they should actively research the market for themselves and stay away from property spruikers who claim huge profits if you buy now or huge savings if you wait for some speculative future event.
Very true, but you continue to spruik the market along with your mate Mike.
Almost as though your lives depended on it.
skamy
17 Aug 2014, 05:18 PM
jumbo that is not the way it works, even a broken clock will be right twice a day. The GFC has been and gone and Australia did not crash like Ireland therefore it's economy was not the same as Ireland and it did not have a bubble like Ireland.
Now tell me what is your view are you predicting a mass sale of investor properties or a mass sale of luxury properties? They are two entirely different markets , luxury property do not make good investment properties.
I am not a broken clock. I have been a bull in Perth property since 2007. I have finished my bull run and now I am a bear.
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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