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The Perth Property Crash Thread; Let us enjoy the inevitable collapse as it unfolds in WA
Topic Started: 13 Aug 2014, 12:28 AM (89,644 Views)
Jimbo
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Mike
18 Aug 2014, 10:59 AM
You told us all lies.

Who is "us all"?

Is it your network of RE experts and analysts that act like a net to feed you with info before it becomes public knowledge?

Is it your thousands of devoted followers on your widely read economics blog?

Or is just you and the many voices in your head?


Last word.

It was on the market in 2007 for 1.2 million. I offered 850k. I don't give a fuck if you don't believe me.

Even if I were making this up, it has dropped from 975 in 2008 to 599 now. It proves the point I was trying to make anyway.

Big deal if I got the land size out by 100m2 or so.

Now take your medicine and go and lie down.
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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Mike
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Jimbo
18 Aug 2014, 12:10 PM
Who is "us all"?

Is it your network of RE experts and analysts that act like a net to feed you with info before it becomes public knowledge?

Is it your thousands of devoted followers on your widely read economics blog?

Or is just you and the many voices in your head?


Last word.

It was on the market in 2007 for 1.2 million. I offered 850k. I don't give a fuck if you don't believe me.

Even if I were making this up, it has dropped from 975 in 2008 to 599 now. It proves the point I was trying to make anyway.

Big deal if I got the land size out by 100m2 or so.

Now take your medicine and go and lie down.
This is nothing to do with me no matter how much you try and make it so, desperate much.

So you want this forum to believe that the older listing prices are wrong in both 2008 and 2011 and you are right.

So both $975,000 in 2008 is wrong, and $595,000 is wrong in 2011. You claim $1.2 million in 2007 and it was listed at $800,000 in 2011.

You have no data to support your lies and the data clearly shows you are lying.

Keeping digger the hold deeper, you are doing a fine job.
Edited by Mike, 18 Aug 2014, 03:57 PM.
http://mike-globaleconomy.blogspot.com.au/
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newjez
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Mike
18 Aug 2014, 03:56 PM
This is nothing to do with me no matter how much you try and make it so, desperate much.

So you want this forum to believe that the older listing prices are wrong in both 2008 and 2011 and you are right.

So both $975,000 in 2008 is wrong, and $595,000 is wrong in 2011. You claim $1.2 million in 2007 and it was listed at $800,000 in 2011.

You have no data to support your lies and the data clearly shows you are lying.

Keeping digger the hold deeper, you are doing a fine job.
Fuck me, it fell by nearly 40%! Fucken Nora!
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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szokolay
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newjez
18 Aug 2014, 04:09 PM
Fuck me, it fell by nearly 40%! Fucken Nora!
Tip of the iceberg. Property values in Australia are going to get smashed. We won't believe it until we see it and then we will probably have other things to worry about that will overshadow the fact.
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Ollie
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Quote:
 
http://www.afr.com/p/national/post_boom_hits_perth_property_ahlbTQ5itTOBhC7Bri0EWM

Perth is at risk of being awash with vacant offices and apartments as early as next year, as the end of boom time conditions hits the inner city market.

The forecast increase in vacancy rates in the commercial and residential sectors is linked to the impending deluge of new premises commissioned during stronger economic times.

Property Council of Australia Executive Director Joe Lenzo said an already above average office vacancy rate of 11.8 per cent in the city could easily blow out to beyond 15 per cent by late next year…

The theme – being replicated in the apartment sector – is tied to a large decrease in resources investment in Western Australia that previously led to a fast expanding workforce seeking office space and accommodation…

Analysts expect the supply of apartments to outstrip demand when much of that construction activity is completed next year.
A quick look at the dwelling approvals data for Perth does indeed show a large increase in both detached house and unit & apartment approvals since late 2012.

And this uplift in construction is occurring just as the Western Australian economy and population growth are coming coming off the boil.

Already, Perth rental vacancy rate have risen strongly and are now above the national average.

Moreover, Perth house price growth is moderating fast, as has finance commitments, which points to weakness throughout the remainder of this year and into next.

Overall, not a pretty picture if you have only recently leveraged-up to buy a Perth home.
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Blondie girl
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skamy
18 Aug 2014, 02:25 AM
Coogee in Sydney has the same problem and Maroubra, both have council blocks and problems with burglaries.

It will be interesting to watch these areas and see how well they do in comparison to places like Newcastle, Woolongong and the central coast, all of whom have come on in the last 10 years to overcome seedier reps.

Mandurah is seriously lovely in some places we have stayed there a few times, loved the dolphins in the bay
Posted Image
http://www.mandurahferrycruises.com.au/about-mandurah/default.aspx

I will have to explore Warnbro :) It looks pretty nice too
Posted Image
Skamy
Mandurah has a history of volatility with its prices I do think they've overdone the canal side apartments .

Before what you know of it today, it was once the sticks from Perth & some people did lose out there with the hype.



Better check theses beaches carefully honey, Rockingham has no issues with seaweed I'm sure you've smelt built up seaweed it's not very aesthetic & puts people off the area. Warnbro, Safety Bay, quite low working class. Safety Bay has seaweed at times.

To me it's crap.
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.
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Jimbo
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Mike
18 Aug 2014, 03:56 PM
So you want this forum to believe that the older listing prices are wrong in both 2008 and 2011 and you are right.

So both $975,000 in 2008 is wrong, and $595,000 is wrong in 2011. You claim $1.2 million in 2007 and it was listed at $800,000 in 2011.

You have no data to support your lies and the data clearly shows you are lying.

Keeping digger the hold deeper, you are doing a fine job.
My original comment.

"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)."

Break it down:

1. I said it was listed at 1.2 million in 2007. Old data does not record an entry for 2007, the oldest is 2008.

What does that prove? It proves that Old data does not have an entry recorded for 2007. It doesn't prove that I am a liar.

2. I said it was listed at 800k in 2011, but I was not interested in the property at the time, so it is just from memory.

What does that prove? It proves simply that my memory isn't that great. It makes no difference to the original point I was making though, which is that it has fallen from 1.2 million to 599k. What it was priced at during various periods in between adds nothing to the argument.

The thing is Mike, is if I was going to make up a story with data I extracted from Old data and then post you the link, I would have checked the numbers first. We are not all dumb arses like you.

My original point was that top end prices in that suburb have been falling for a while whist the lower end has followed the wider market trends. This was posted as an example.

Another thing, WTF is "Keeping digger the hold deeper".
Edited by Jimbo, 18 Aug 2014, 06:39 PM.
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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Blondie girl
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Ollie
18 Aug 2014, 05:04 PM
A quick look at the dwelling approvals data for Perth does indeed show a large increase in both detached house and unit & apartment approvals since late 2012.

And this uplift in construction is occurring just as the Western Australian economy and population growth are coming coming off the boil.

Already, Perth rental vacancy rate have risen strongly and are now above the national average.

Moreover, Perth house price growth is moderating fast, as has finance commitments, which points to weakness throughout the remainder of this year and into next.

Overall, not a pretty picture if you have only recently leveraged-up to buy a Perth home.
Yes, for someone green & novice wanting to start out the conditions of the present rental market can be a turn off.

However, some don't fear stagnation, when they're in it long term & don't rely on finance, you just adjust to the conditions..life does do go on regardless.

Just remember whats happenning in Perth market is not the same else where.

I do wonder about how much apartment developent is happenning in Brissie...is it all well?



Oh
1 more thing ..

Sock puppet..
You suck.
Edited by Blondie girl, 18 Aug 2014, 05:27 PM.
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.
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Jimbo
Member Avatar


Blondie girl
18 Aug 2014, 05:09 PM
Better check theses beaches carefully honey, Rockingham has no issues with seaweed I'm sure you've smelt built up seaweed it's not very aesthetic & puts people off the area. Warnbro, Safety Bay, quite low working class. Safety Bay has seaweed at times.

To me it's crap.
And where may I ask, does Her Majesty reside?
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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newjez
Member Avatar


Ollie
18 Aug 2014, 05:04 PM
A quick look at the dwelling approvals data for Perth does indeed show a large increase in both detached house and unit & apartment approvals since late 2012.

And this uplift in construction is occurring just as the Western Australian economy and population growth are coming coming off the boil.

Already, Perth rental vacancy rate have risen strongly and are now above the national average.

Moreover, Perth house price growth is moderating fast, as has finance commitments, which points to weakness throughout the remainder of this year and into next.

Overall, not a pretty picture if you have only recently leveraged-up to buy a Perth home.
Sounds a lot like what happened to the price of iron ore. Will they never learn? Cue foxbat!
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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