The easier question to answer is when has Newjez ever been right, that is Avery small list. Meanwhile here are some of his classic quotes.
Predicted a crash for 2012, wrong again.
Newjez thought prices would crash and you could buy a house with cash, that was nearly 3 years ago. Nice call.
Love it, said right before prices increased by 6% over the next 5 months.
If you go back to my quotes from a few years ago, I correctly predicted Perth would rise over 15% in the next few years. Newjez even questioned how I knew this when no mainstream media reported this. Knowledge and experience counts for far more then sensationalist media reports. While newjez constant crash predictions never happened, my predictions proved to be very accurate, hard to get more accurate then I have been without a few supercomputers to model everything. Most bears followed Newjez line of thought and were also wrong.
I could post dozens of quotes from Newjez, Perthite and Veritas with bold predictions, property crashes, price declines. Perthite even called a recession and tried to convince us all WA in a recession. A least you 3 are good for a laugh some of the time. Called first hand data, a lot of experience and being able to extrapolate the result moving forward over the next few years.
As I have said for a few years now, I expect this spring/summer to be towards the end of this growth cycle. I expect prices to stabilise by this time next year. Then enter a flat market for a few years.
Ask yourself, how did I know Perth would grow by almost the exact amount it did, good guess? When nearly everyone said prices would fall I was going against the trend at the time. So how did I get nearly all the calls correct in recent years. Not all I make mistakes as well, but I have been very accurate, why?
It was a dead cat bounce Mike. Get over it. 3% in five years. Your dead cat bounce has pettered out. The economy is toast. Time to put some of that finance work to good use. Perth will fall or slow burn as it has for the past five years.
PS , did your course finally tell you how to read all the data you've been paying for for years? Who would go to you for financial advice. A cop part time builder who gambled irrationally and got lucky once? You're better comic value than bp Mike. That's your calling mike, standup, why not do a course on that?
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
I would expect Perth to equalise with Brisbane and Adelaide over the next few years. Whether this means Perth will fall, or just stay flat while the other states rise is anyones guess. But take away Perth's highly paid mining jobs, and Adelaide and Brisbane are looking very attractive. If I was a new migrant, I know where I'd be looking.
Adelaide has practically nothing to offer anyone apart from cheap properties and good rental yields.
If I were a new migrant, I'd be still looking to live in Perth.
It is listed for $620,000. It is not a 2 storey houses, it is 809sqm. It is far from luxury, looks rather dated to me in need of renovation or upgrade.
It certainly appears reasonable price, large land, close to beach, pool, good size house. No ducted air con or heating.
I find it very hard to believe your story about this house costing $1.2 million. I certainly have not offered $850k like you said you did. Around $600k seems a fair price for this house.
PS , did your course finally tell you how to read all the data you've been paying for for years? Who would go to you for financial advice. A cop part time builder who gambled irrationally and got lucky once? You're better comic value than bp Mike. That's your calling mike, standup, why not do a course on that?
I wasn't thinking stand up comic. I reckon more like a character acting role.
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.
Umm helps if you posted the correct details. You said 850sqm this property is 728sqm, only off by 122sqm. That's why it did not appear as to small for the property you hyped up.
To be honest it's crap, that is what I call and old holiday home that has been renovated a few times. It's old, dated, weather board construction for the upper levels, which means cheaply built. The tropical garden makes it look nice but it's hiding a lot of faults as well.
If you wanted to spend $50-75k if not more updating it might make a nice modern house. One thing going for it is 5 beds and 3 baths, I always like that.
It is a nice house if you like that style and it is a very specific style, hence why it takes longer to sell. But if that is what you like it is not to expensive. I think you can get it cheaper though.
Helps if you posted the right information dick head. This is far from a $1.2 million mansion you made it out to. The fact you offered 850k for it tells me your full of shit.
newjez
17 Aug 2014, 06:24 PM
It was a dead cat bounce Mike. Get over it. 3% in five years. Your dead cat bounce has pettered out. The economy is toast. Time to put some of that finance work to good use. Perth will fall or slow burn as it has for the past five years.
PS , did your course finally tell you how to read all the data you've been paying for for years? Who would go to you for financial advice. A cop part time builder who gambled irrationally and got lucky once? You're better comic value than bp Mike. That's your calling mike, standup, why not do a course on that?
When something you post actually happens, people might pay more notice of you. Until then all we have is dozens of failed Newjez predictions.
Do we need to really roll out all of you're failed predictions again to see no one should ever listen to the bile that dribbles from your mouth.
Umm helps if you posted the correct details. You said 850sqm this property is 728sqm, only off by 122sqm. That's why it did not appear as to small for the property you hyped up.
To be honest it's crap, that is what I call and old holiday home that has been renovated a few times. It's old, dated, weather board construction for the upper levels, which means cheaply built. The tropical garden makes it look nice but it's hiding a lot of faults as well.
If you wanted to spend $50-75k if not more updating it might make a nice modern house. One thing going for it is 5 beds and 3 baths, I always like that.
It is a nice house if you like that style and it is a very specific style, hence why it takes longer to sell. But if that is what you like it is not to expensive. I think you can get it cheaper though.
Some of what you say makes sense, but I am a construction engineer by trade so I can look at a property and see beyond the pile of bricks or timber that sit upon it. The 3x1 in Waikiki would need 200k spending to make it worth 500k (not viable).
Which was my point from the start. .
20 Viking is not worth buying if you have to spend 200k to bring it up to the standard of a property that is already on the market for 200k more.
The point is that the top end is falling and there is a reason for that.
Touch base with your team of experts in the morning. Get some feedback before it hits the mainstream.
When you have the answers, beam them down from your Learjet to all of us on APF. We are waiting for your guidance oh gifted one.
Mike
17 Aug 2014, 06:35 PM
Umm helps if you posted the correct details. You said 850sqm this property is 728sqm, only off by 122sqm. That's why it did not appear as to small for the property you hyped up.
To be honest it's crap, that is what I call and old holiday home that has been renovated a few times. It's old, dated, weather board construction for the upper levels, which means cheaply built. The tropical garden makes it look nice but it's hiding a lot of faults as well.
If you wanted to spend $50-75k if not more updating it might make a nice modern house. One thing going for it is 5 beds and 3 baths, I always like that.
It is a nice house if you like that style and it is a very specific style, hence why it takes longer to sell. But if that is what you like it is not to expensive. I think you can get it cheaper though. Helps if you posted the right information dick head. This is far from a $1.2 million mansion you made it out to. The fact you offered 850k for it tells me your full of shit. When something you post actually happens, people might pay more notice of you. Until then all we have is dozens of failed Newjez predictions.
Do we need to really roll out all of you're failed predictions again to see no one should ever listen to the bile that dribbles from your mouth.
Meanwhile, a simple question for you.
If you are the young and thrusting multi millionaire economic guru that you claim to be, why are you spending your Sunday arvo arguing with a fuckhead like me who knows nothing about property?
If controlling networks of statisticians that feed back market beating data to your hands only leads to you spending your Sundays typing crap on a blog site, then what is the incentive for others to follow in your path?
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.
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).
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.
I am not worthy.
Jimbo the Liar.
Read below.
This property was never listed for $1.2 million as Jimbo claims, it was first listed for $975,000.
It was never listed for $800,000 in 2011 as you claim, in fact it was advertised in 2011 for $595,00, cheaper then today.
Care to offer an explanation. RP data also shows this, but that is a paid subscription so I'm not allowed to post it. This one is free.
5 3 2 728 sqm HouseLast Advertised : July 2014 Historical Prices: June 2014Expressions of Interest March 2014$649,000 Buyers Over January 2014$699,000 January 2014All Offers Considered December 2013All Offers Considered July 2012$615,000 - $630,000 March 2012$615,000 - $630,000 April 2011$595,000 - $635,000 Negotiable September 2010$595,000 - $635,000 Negotiable July 2010$625,000 - $645,000 July 2010$625,000 - $645,000 BY NEG June 2010$659,000 November 2009$650,000 November 2009$650,000 New June 2008$859,000 May 2008$859,000 April 2008$859,000 New April 2008$975,000
Destroys your nice story Jimbo the Liar.
Jimbo
17 Aug 2014, 06:48 PM
Some of what you say makes sense, but I am a construction engineer by trade so I can look at a property and see beyond the pile of bricks or timber that sit upon it. The 3x1 in Waikiki would need 200k spending to make it worth 500k (not viable).
Which was my point from the start. .
20 Viking is not worth buying if you have to spend 200k to bring it up to the standard of a property that is already on the market for 200k more.
The point is that the top end is falling and there is a reason for that.
Touch base with your team of experts in the morning. Get some feedback before it hits the mainstream.
When you have the answers, beam them down from your Learjet to all of us on APF. We are waiting for your guidance oh gifted one.
Meanwhile, a simple question for you.
If you are the young and thrusting multi millionaire economic guru that you claim to be, why are you spending your Sunday arvo arguing with a fuckhead like me who knows nothing about property?
If controlling networks of statisticians that feed back market beating data to your hands only leads to you spending your Sundays typing crap on a blog site, then what is the incentive for others to follow in your path?
It doesn't sound very exciting to me.
Not sure why I'm wasting more time on you now that we know you lied about this property, blatantly.
Why am I on here on a Sunday, sitting in the theatre room while my kids watch some Wiggles, yay go Dorothy, wags the dog.
I may focus on property development during the week, but today is a lazy Sunday at home. Is that ok by you or would you like to know what we are cooking for dinner as well?
As you will be well aware (being an economic guru an all), sometimes recorded history differs from the truth.
No doubt you were somewhat dumfounded when you saw that it had been listed at 975k just after you claimed that it was never worth more than 600k max.
So naturally you nit picked me on the detail because that is all you had left.
I maintain that it was listed at 1.2million and I although agree that was a silly price. I offered 850k.
Get your army of experts with inside information to check it in the morning.
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.
Now we know the truth. An old converted holiday home with a loft.
So now that we all know you lie to try and convince people or your point, explain yourself. Why did you lie to the community.
I offered 850k on a property listed at 1.2 million in 2007.
You asked for evidence because you could never see it being worth more than 600k
I provided evidence that it was listed at 975k in 2008 (as far back as the info would let me look).
Meanwhile, you are still on here posting shit when every other multi millionaire on the planet is spending their Sunday arvo rooting supermodels on Learjets.
Explain that Walter?
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.
It was a comment on Mike's writing style, not on perth property.
But feel free to use it as an excuse to launch into one of your tired rants about doomers, gloomers and property crash spruikers.
"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.
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