I think I can see your little shoe box of gold on that boat goldbug!
I think I can see Perth house prices down there too timmy. Somewhere deep in the abyss after sinking so far. You have already struck the iceberg timmy, and are taking on water fast, real fast...
They said it would not happen, that it was unsinkable...
But then it sunk......
Some abandoned ship before it was too late.......
And some did not........
Are you going to head for the life raft, or go down to the bottom ???
Except for the fact that rentals are up on year and on month, and property available to rent is also up?. How do you explain that? The only reason I can see is increased supply.
If population is increasing and it is - the only reasons for numbers of rentals rising is a slowing of household formation and/or renters making the move to build or purchase.
In todays market there is a bit of both. The truth is that rentals are pretty steady more properties are available but also more houses are being let. The vacancy rate has been steady since December 2013 and it has not crashed the market.
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.
Sales are significantly lower yoy and rental vacancies are scaling new heights.
?????????????????????
Your crash is still in your imagination, there was a 16% increase in number of sales over the last two weeks, this is not a crashing market. There are plenty of good buys out there and the market is nice and slow so lots of time for due diligence. However, you will miss iy=t again as you believe silly doomster sites calling silly price drops.
You wont buy until the market has moved up for years because only then will you be able to drop your fantasy of a 40% crash.
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.
This has been updated since I last looked a few hours ago. Last week, stock on market was 13499 and now it is 13985.
That is 486 more than a week ago. If you add that to the properties sold, you get a new listings total of 1180.
That is a shit load of people rushing to the exits all at once.
Oh dear...
skamy
19 Mar 2015, 07:17 PM
Your crash is still in your imagination, there was a 16% increase in number of sales over the last two weeks, this is not a crashing market.
Every week so far this year, the REIWA sales numbers have shown total sales to be below the sales number of four weeks ago and below the same week last year.
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.
About time there's a poster who has some sarcasm & SOH.
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.
This has been updated since I last looked a few hours ago. Last week, stock on market was 13499 and now it is 13985.
That is 486 more than a week ago. If you add that to the properties sold, you get a new listings total of 1180.
That is a shit load of people rushing to the exits all at once.
Oh dear... Every week so far this year, the REIWA sales numbers have shown total sales to be below the sales number of four weeks ago and below the same week last year.
Without exception.
So how are sales up 16% on two weeks ago?
wait until the numbers are not in the favour of the money makers.
there was a 16% increase in number of sales over the last two weeks, this is not a crashing market.
You base your future on two weeks of sales, what a joke, and desperate much. The trend is clear, Perth is heading down down down and any investor who has property there will be in for years of pain.
"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." John Stuart Mill
If population is increasing and it is - the only reasons for numbers of rentals rising is a slowing of household formation and/or renters making the move to build or purchase.
In todays market there is a bit of both. The truth is that rentals are pretty steady more properties are available but also more houses are being let. The vacancy rate has been steady since December 2013 and it has not crashed the market.
Population growth is the slowest in years, might be a decade or more. We saw the report not long ago.
The other unfortunate thing is your claim that rental vacancies have been steady since dec 2013 is a blatant lie, we can see clearly from the lastest stats, that it has continued rising to record new highs in the last few months.
Blind freddy can see it will be dropping for years, and even more so next year as a record breaking amounts of property flood onto the market around mid next year, and will be followed up by a further record beating amount only three months later, will building going ape all up until this period. That is what the building approval numbers are telling us skamy .
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