A lot is being made on this website about the iron ore price. So why aren't Perth house prices crashing? Iron ore is at a 5 year low, but houses are no where near their price 5 years ago.
A lot is being made on this website about the iron ore price. So why aren't Perth house prices crashing? Iron ore is at a 5 year low, but houses are no where near their price 5 years ago.
The second the price goes below $85 does Atlas just disappear?
A lot is being made on this website about the iron ore price. So why aren't Perth house prices crashing? Iron ore is at a 5 year low, but houses are no where near their price 5 years ago.
You need to be patient my boy.
The five year low was hit yesterday and you asked why prices have not crashed yet ?
This low has come about rather quickly, when prices were around $140 in january to under $85 now.
Many are still living off redundent packages and savings after losing their jobs. They wont last forever.
How much profit are miners making now, when iron ore was $190 per tonne and it was costing them $50 a tonne to extract, the profit per tonne was $140. Now prices are what $83 a tonne, so after $50 mining cost, its now $33 dollars a tonne profit.So now they are making less than 25% of the profit they were per tonne.
And the way prices are going we will see $70 a tonne before much longer.
So, are you thinking of purchasing or have you already done that ?
A lot is being made on this website about the iron ore price. So why aren't Perth house prices crashing? Iron ore is at a 5 year low, but houses are no where near their price 5 years ago.
Due to the same reason when Iron Ore hit almost $200 a ton WA house prices went backwards almost 10%.
Price of Iron Ore has little to no impact on house prices, other factors are far more important.
Interesting to note the latest export figures showing Iron Ore exports up and will add to GDP growth this quarter. The big miners are exporting higher volumes to send the international competition to the wall.
Due to the same reason when Iron Ore hit almost $200 a ton WA house prices went backwards almost 10%.
Price of Iron Ore has little to no impact on house prices, other factors are far more important.
Interesting to note the latest export figures showing Iron Ore exports up and will add to GDP growth this quarter. The big miners are exporting higher volumes to send the international competition to the wall.
Relying to your own comment.. how nice.
The next 6 months will determine if China supports it ore industry or lets it close. We are not dealing with capitalists so stop pretending.
Due to the same reason when Iron Ore hit almost $200 a ton WA house prices went backwards almost 10%.
Price of Iron Ore has little to no impact on house prices, other factors are far more important.
Interesting to note the latest export figures showing Iron Ore exports up and will add to GDP growth this quarter. The big miners are exporting higher volumes to send the international competition to the wall.
Iron ore prices have little to NO impact on house prices, what a laid of shit Mike.
Iron ore prices supported jobs, it created jobs, a shitload, big dollar jobs, for people with little eduction or qualifications. They were able to buy houses they were not otherwise capable of previously, it created other jobs around the mining Industry, cafes, car dealers, boat dealers, furniture and appliance stores etc etc.
These fed the whole housing industry frenzy along with record low rates.
The fact is, what supported and grew house prices is now dissapearing fast.
Deny it all you like Mike.You say iron ore prices had little or no impact on prices and then go on to say other factors are far more important, what are these Mike, remembering that iron ore prices supported jobs both directly and indirectly.
The second the price goes below $85 does Atlas just disappear?
Use your brain a little.
Well you are the one making it sound that way, and yet tell me I have a little brain just for reading your posts? Are you saying you are just exaggerating the situation for the purposes of infantile point scoring?
A lot is being made on this website about the iron ore price. So why aren't Perth house prices crashing? Iron ore is at a 5 year low, but houses are no where near their price 5 years ago.
Mining doesn't create that many jobs. Building mines however creates shed loads.
Building many mines rapidly and simultaneously creates high labour demand and inflates pay.
A low ore price just means that we probably won't be rushing to build any new mines in the near future so we will see a fall back in high paid FIFO construction jobs and a reduction in immigration.
These are the things that will hit house prices.
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.
A lot is being made on this website about the iron ore price. So why aren't Perth house prices crashing? Iron ore is at a 5 year low, but houses are no where near their price 5 years ago.
Search for snow.
Mike
6 Sep 2014, 01:12 PM
Due to the same reason when Iron Ore hit almost $200 a ton WA house prices went backwards almost 10%.
Price of Iron Ore has little to no impact on house prices, other factors are far more important.
Interesting to note the latest export figures showing Iron Ore exports up and will add to GDP growth this quarter. The big miners are exporting higher volumes to send the international competition to the wall.
Iron ore prices have little to NO impact on house prices, what a laid of shit Mike.
Iron ore prices supported jobs, it created jobs, a shitload, big dollar jobs, for people with little eduction or qualifications. They were able to buy houses they were not otherwise capable of previously, it created other jobs around the mining Industry, cafes, car dealers, boat dealers, furniture and appliance stores etc etc.
These fed the whole housing industry frenzy along with record low rates.
The fact is, what supported and grew house prices is now dissapearing fast.
Deny it all you like Mike.You say iron ore prices had little or no impact on prices and then go on to say other factors are far more important, what are these Mike, remembering that iron ore prices supported jobs both directly and indirectly.
When the iron ore price was in the $190's, interest rates were no where near a record low.
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