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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 (89,609 Views)
Veritas
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More evidence of the slowdown.

Quote:
 
Perth taxi drivers are doing it so tough they are handing back plates as usage rates fall by up to a third.

And with the industry under attack from low-cost, ride-sharing services such as UberX and a poor public image, the government board set up to reform the industry sits quietly vacant with no plans to replace it.

"There's a lot of pressure on the taxi industry," WA Taxi Council chief executive Joanna Lockyer told Fairfax Media.

"It's had a really hard time of late with unlawful and unlicensed operators and some covert reviews.



"The WA economy has been slowing down – I think we're all feeling it – and one of those impacts has been the slowing of taxi demand.

"Taxis have always been a barometer of consumer confidence, and they're certainly noticing that now.

"It's so bad, some drivers are handing back their plates.

"But what that means for the public is there is currently an oversupply."

While overall taxi numbers have remained static over the past two years, usage rates have plummeted by up to a third, falling from around 37 per cent (of occupied time while in service) in June 2012 to 25 per cent in June this year.

Peak-hour taxi licences have dropped from more than 420 to 380 in the past year


Read more: http://www.watoday.com.au/wa-news/wa-taxi-drivers-lonely-as-industry-does-it-tough-20141120-11pz1z.html#ixzz3JZkWJJAe
Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?

The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly.
Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
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Perthite
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Veritas
20 Nov 2014, 02:25 PM
More evidence of the slowdown.

Was just about to post that...

WA is in reverse that is for sure.

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SkamysUberDriver
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Perthite
20 Nov 2014, 03:48 PM
Was just about to post that...

WA is in reverse that is for sure.
No - you're all wrong - what we're seeing is doom gloomer taxi drivers who are jealous of the clever people who bought their own cars during the boom

All you arrogant doom gloomers who are whinging because you didn't have the foresight to buy a car during the boom can whinge all you want about expensive taxi fares now.

Basically everyone is a doom gloomer who doesn't agree with me
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Perthite
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Any comment from Perth bulls?
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doubleview
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SkamysUberDriver
20 Nov 2014, 04:33 PM
No - you're all wrong - what we're seeing is doom gloomer taxi drivers who are jealous of the clever people who bought their own cars during the boom

All you arrogant doom gloomers who are whinging because you didn't have the foresight to buy a car during the boom can whinge all you want about expensive taxi fares now.

Basically everyone is a doom gloomer who doesn't agree with me
Ha nice name

Skamy dont get out of the house to use uber brudder!
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Jimbo
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Perthite
20 Nov 2014, 09:37 PM
Any comment from Perth bulls?
No, but I took a cab to the domestic airport last week and the cabby told me that he wasn't doing half as many Rockingham to airport runs as he was six months ago.

I also noticed a marked decline in the number of fluoro shirts in the departure area as well.

This is just man on the street stuff and I am sure Skamy or Mike will come up with a stat that proves me wrong.
Edited by Jimbo, 20 Nov 2014, 10:13 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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hiffle
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Jimbo
20 Nov 2014, 10:12 PM
No, but I took a cab to the domestic airport last week and the cabby told me that he wasn't doing half as many Rockingham to airport runs as he was six months ago.

I also noticed a marked decline in the number of fluoro shirts in the departure area as well.

This is just man on the street stuff and I am sure Skamy or Mike will come up with a stat that proves me wrong.
I wish I could say the same, but I still find the domestic airport absolutely full of high vis - I've been there a few times in the last month and it's the pits, particularly in the morning (catching that horror early flight to Sydney).

I was actually wondering why there were still so many FIFOs apparent ... hasn't the resources downturn flowed through into tradie employment yet? Or are all those people actually digging up and crushing rocks up there? (and so we will continue to see them, forever?)

This from someone who has spent most of their life in Perth and managed to stay clear of the resources industry the whole time.

H
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Jimbo
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hiffle
20 Nov 2014, 10:55 PM
This from someone who has spent most of their life in Perth and managed to stay clear of the resources industry the whole time.
If you work in the drive through at Chicken Treat or at Bethany Waters in aged care, you will not have steered clear of resources in WA.

Organisations such as these have been forced to pay higher wages to their staff in order to be able to compete with the high wages paid to workers in mining infrastructure. They have also been able to charge more for their products and services due to the trickle down wealth effect of 'Bogans" earning $150k a year.

Nobody in WA is removed from resources. Not even Skamy and her property ponzi mates.

They can't see it yet or maybe they refuse to see it but it doesn't make it not so.

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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skamy
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SkamysUberDriver
20 Nov 2014, 04:33 PM
No - you're all wrong - what we're seeing is doom gloomer taxi drivers who are jealous of the clever people who bought their own cars during the boom

All you arrogant doom gloomers who are whinging because you didn't have the foresight to buy a car during the boom can whinge all you want about expensive taxi fares now.

Basically everyone is a doom gloomer who doesn't agree with me
I get such a lot of attention from you guys.

Doom and gloomers refers to those doomster cults like Macrobusiness, that have a business model based on making money out of selling Armageddon stories to gullible people.


Jimbo
20 Nov 2014, 10:12 PM
No, but I took a cab to the domestic airport last week and the cabby told me that he wasn't doing half as many Rockingham to airport runs as he was six months ago.

I also noticed a marked decline in the number of fluoro shirts in the departure area as well.

This is just man on the street stuff and I am sure Skamy or Mike will come up with a stat that proves me wrong.
I could post you lots of stats that show many things, but maybe it is just easier to ask you why they needed that huge boat they just parked up at Barrow Island? don't the guys working there need fluoro shirts? Or are they all at another local airport?

The slowdown is not anywhere near as dramatic as you make out Jimbo. Queensland and NSW are much worse affected by the mining investment slowdown.
Edited by skamy, 21 Nov 2014, 01:18 AM.
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.
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Foxy
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Zero is coming...

Jimbo
20 Nov 2014, 02:23 AM
Obviously something has got you hitting the Gin tonight. Maybe a two for one offer at Bottlemart or maybe the realisation that pouring scorn on your tenants (the very people who pay for your Gin) is not a good business model. You won't have to worry about tenants for much longer however. All the cheap apartments and houses flooding the market will create a buyers paradise. No more pesky loser bogans giving you free money every week. You will be so relieved.

This may damage your social life somewhat (not having any money), but fear not.

I know you are a city girl and a Gin lover so perhaps you should pop down to the nightly social gathering in Weld Square. Just your kind of people.
Jimbo,
Yes yes and yes.
Foxbat told me this 19 months ago.
I was talking to him in Bangkok today.

He updated me.

Peter
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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