My point was that most people don't buy on the way down, if they did the market would correct as you correctly point out.
In my experience better bargains are to be had before the market bottom than after it because when vendors see worsening conditions ahead they will take almost any offer, but when they see the market improving they dig their toes in. Have any Perth bears here tested the market recently, or are they just watching the index which is 3 months old data.
Perth bears are too busy trying to keep up with the number of job losses, business closures, rental vacancies, property listings etc. to bother testing the market. Logic dictates that the market has only one way to go. No need to test it, just look at the signs.
My point was that most people don't buy on the way down, if they did the market would correct as you correctly point out.
In my experience better bargains are to be had before the market bottom than after it because when vendors see worsening conditions ahead they will take almost any offer, but when they see the market improving they dig their toes in. Have any Perth bears here tested the market recently, or are they just watching the index which is 3 months old data.
I'm going to visit soon, but mainly to look, not serious about buying yet.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
Actually I was being a bit dramatic.. more like 11.5% discount .. they wasted a year on doing small renovations . Could have saved themselves 15k or so spent tarting up and sold in a few weeks at much higher prices if they just put it on the market last year IMO ...
Just a beginners mistake, a friend of mine took a year to fix his house up, spent a bucket load on it in time and effort.
Only to see demand drop every day for houses of its type.
Peter
newjez
5 Sep 2015, 02:48 PM
I'm going to visit soon, but mainly to look, not serious about buying yet.
You should drop down to Margaret River for 3 days..
Margaret River through to denmark is the only region in WA I would live. Beautiful and untainted.
"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
Land down your way peter will undoubtedly increase in the years to come as Perth residents figure out living beside hundreds of thousands of impoverished welfare recipients living in rentals isn't such a good idea. There is far too much rental stock in cities now.
"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
Available rentals have climbed by 100 per week over the last month, houses for sale climbed at 250 week.
A woman at work who has a couple of IP's looked at me in disbelief a year ago when I said I thought Perth was in for a property downturn. I think she thought I had suffered a stroke or something?
Today she asked me if I thought it would get any worse and I told her to look at our order book and our wages bill for the last month and compare it to two years ago.
The idea of a Perth downturn has gone from bear doomster fantasy to mainstream thinking over the last couple of months.
This shit is starting to get very real.
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.
Available rentals have climbed by 100 per week over the last month, houses for sale climbed at 250 week.
A woman at work who has a couple of IP's looked at me in disbelief a year ago when I said I thought Perth was in for a property downturn. I think she thought I had suffered a stroke or something?
Today she asked me if I thought it would get any worse and I told her to look at our order book and our wages bill for the last month and compare it to two years ago.
The idea of a Perth downturn has gone from bear doomster fantasy to mainstream thinking over the last couple of months.
This shit is starting to get very real.
Did she ask if she should sell? She hasn't very much time left. If she's not out by Christmas I wouldn't hold much hope.
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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