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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 (89,643 Views)
Jimbo
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newjez
18 Aug 2014, 06:23 PM
Sounds a lot like what happened to the price of iron ore. Will they never learn?
The double whammy for Perth is that at the same time as mining was sucking up the workforce, we built a freeway extension, started under grounding Perth Station, built a few great big towers in the city, a hospital, an arena and a whole host of other bits and pieces.

This meant that construction wages were elevated across the board to compete with FIFO pay.

So what we have to come, is plenty of supply and not enough demand coupled with falling wages and rising unemployment.

Meanwhile, in the three suburbs I am watching, rental vacancies are up 16.25% since 12th July and stock on market is up 8.5%

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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newjez
18 Aug 2014, 04:09 PM
Fuck me, it fell by nearly 40%! Fucken Nora!
It fell from $975,000 in 2008 to $595,000 in 2011. It took you 3 years to notice Rockingham/Mandurah and the greater Peel region got hammered after the GFC, you are slow.

It is common knowledge this area went down between 30-50% in some areas.
http://mike-globaleconomy.blogspot.com.au/
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Jimbo
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Mike
18 Aug 2014, 07:50 PM
It fell from $975,000 in 2008 to $595,000 in 2011. It took you 3 years to notice Rockingham/Mandurah and the greater Peel region got hammered after the GFC, you are slow.

It is common knowledge this area went down between 30-50% in some areas.
Actually Mike, it never fell at all. The prices shown were asking prices and as far as I know, the property hasn't transacted in over 10 years.

(although I may be wrong but I am not going to piss about checking sales history)

The whole point is, that areas such as Mandurah and Warnbro Beachfront went mental up until 2007 and some lucky people did actually manage to sell properties that they had built for 400k or 500k for millions. That end of the market is now dying a slow death as big money jobs fly out of the window in WA.

The lower end of the market will start to follow.

Everything I am seeing locally points to a falling market. Rental vacancies up, asking rents down, sales listings up.

I don't have the advantage of your army of experts feeding data to you daily, acting like a dragnet to get information before the main data companies and press allowing you to see what is happening with prices six months in advance.

But I do have excel.



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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Mikes adgenda does not allow one to think about falling property prices and rents.

He told us he has thirteen properties, I could only imagine what the lvr would be now, not to mention when prices and rents just keep falling.

Thirteen properties with rents rising are great, but rents falling on thirteen properties soon becomes boring.

And property prices falling when your holding thirteen leveraged up properties is even more boring again.

Add up 13 × - 100k.

You all must just face the fact , that no matter what happens, mike will never acknowlegde reality.
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Jimbo
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Guest
18 Aug 2014, 08:41 PM
Mikes adgenda does not allow one to think about falling property prices and rents.

He told us he has thirteen properties, I could only imagine what the lvr would be now, not to mention when prices and rents just keep falling.

Thirteen properties with rents rising are great, but rents falling on thirteen properties soon becomes boring.

And property prices falling when your holding thirteen leveraged up properties is even more boring again.

Add up 13 × - 100k.

You all must just face the fact , that no matter what happens, mike will never acknowlegde reality.
I am not worried about Mike. He has an empire that spans all capital cities and where one goes down another goes up.

He seems to have the market well and truly sussed.

My only concern for Mike is that seeing that he is doing so well and with all his bases covered, why does he still feel the need to deny what is happening right in front of his nose?

I am pretty sure that George Soros doesn't blog to nobodies like us about his investments and their futures. That is why George is rich. He makes his play and keeps quiet about it.

Funny that Mike should share his market insights with us? Maybe Mike is a caring and sharing kinda guy who wants us all to get in on the action?

I don't think he is an over leveraged, bought a bit late too make any capital gain, shitting his pants in case he loses his shirt kind of person at all. :D
Edited by Jimbo, 18 Aug 2014, 09:58 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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newjez
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Mike
18 Aug 2014, 07:50 PM
newjez
18 Aug 2014, 04:09 PM
Fuck me, it fell by nearly 40%! Fucken Nora!
It fell from $975,000 in 2008 to $595,000 in 2011. It took you 3 years to notice Rockingham/Mandurah and the greater Peel region got hammered after the GFC, you are slow.

It is common knowledge this area went down between 30-50% in some areas.
I have no interest in anything south of the river. I knew it had fallen, just not realized it was that much. Doesn't bode well for Perth.
Mike
18 Aug 2014, 07:50 PM
It fell from $975,000 in 2008 to $595,000 in 2011. It took you 3 years to notice Rockingham/Mandurah and the greater Peel region got hammered after the GFC, you are slow.

It is common knowledge this area went down between 30-50% in some areas.
I have no interest in anything south of the river. I knew it had fallen, just not realized it was that much. Doesn't bode well for Perth.
Edited by newjez, 18 Aug 2014, 10:05 PM.
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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Blondie girl
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Jimbo
18 Aug 2014, 05:27 PM
And where may I ask, does Her Majesty reside?
I feel like saying none of your bizness, but some other posters are aware of where I live.

Built last yr in Applecross but have had the property since 1999...

I previously lived in Dianella for CG reasons thought I would hate it but its an average suburb not a bad area honestly..lots of 60s homes to play & chop chop with its big blocks & it's been developing & building.

..but you wouldn't know that as you are interested in boganville. Lol..

Initially grew up in West Perth & then moved in a Perth hills suburb & finally in the Western burbs. West & North Perth are my gems.. As there's very nice zoning conditions.

Btw about Mandurah? Your statements aren't entirely accurate as in the nineties (even earlier dunno before my time in investing) Mandurah was a poorhouse with its prices...but then you are a blow

in from the UK..

What do you know?

Btw there's some out there who are first gen of euro hard working immigrants who did strike it very well in property, who don't need to invest in areas like Rockingham.

You seem to have an incessant need to blog at all hours..

You are just another weirdo.
newjez
18 Aug 2014, 10:03 PM
I have no interest in anything south of the river. I knew it had fallen, just not realized it was that much. Doesn't bode well for Perth.

I have no interest in anything south of the river. I knew it had fallen, just not realized it was that much. Doesn't bode well for Perth.
Gosh you are dribbling twice.

Come on New jerk Germy, why did you have to go to the UK wasn't just for employment reasons, I think your wife has you by those balls.
Ooh , looks like all that trashy literature didn't make you the $... You've inadvertently bragged about that & you are not really anon.


Better keep looking in Balga to get a bargain.

You do realize that when you have a name for all to see, things can get checked.
Edited by Blondie girl, 18 Aug 2014, 10:26 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
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Blondie girl
18 Aug 2014, 10:15 PM
Built last yr in Applecross but have had the property since 1999...

I grew up in Brentwood and went to Rossmoyne High. Maybe I know you?

Applecross and Brentwood used to be the Rockingham of the 70's.



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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Foxy
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Zero is coming...

Blondie girl
18 Aug 2014, 01:56 AM
You are quite pathetic really.

Did you honestly think that you have been straight?


For Mike to be involved in the development stuff, I'm sure he would be in contact with home builders , land consultants etc.Not sure if he's personal with a Perth developer, but it's does help with getting knowledge.








So what do you see happening with those Perth apartments?

Elaborate.

Do you think some of those commercial & residential builders are crying in their kleenexes ATM ?
Foxbat says supply of units is going up, demand for units is going down.
Stand well back.
Will keep you posted.
4 people i know have lost their jobs in mining in the last week.
Peter
They will not be buying a unit any time soon.
:bye:
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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Blondie girl
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Jimbo
18 Aug 2014, 10:28 PM
I grew up in Brentwood and went to Rossmoyne High. Maybe I know you?

Applecross and Brentwood used to be the Rockingham of the 70's.


I am turning 41 this October.

You are an older fart...
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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