Barely a 50% increase in the 10 years between 2002 and 2012
2012 was two years ago. It's 2014 now, and Sydney prices are up 50% over the past five years (2009-2014), which is the same as doubling in 10 years
The same? Bullshit. It would be the same if it was sustained for another 5. Now it's just an anomaly. Just because you NEED prices to double in 10 years doesn't mean they will. Sydney has failed to do that through the greatest boom in modern history. As my chart clearly shows.
Sydney was grossly overpriced, that's why it languished even as the other aussie cities boomed. Now the good times are over so I can't see Sydney going any higher in the next 5 years.
All the experts from the rba governor down are warning of a big correction there yet shadow wants us to believe it will a million dollar city in year or two. Your desperation would be laughable if it wasn't so pathetic.
Shadow was hopelessly wrong about the Gold Bull Market. What else is he wrong about?
The same? Bullshit. It would be the same if it was sustained for another 5. Now it's just an anomaly. Just because you NEED prices to double in 10 years doesn't mean they will. Sydney has failed to do that through the greatest boom in modern history. As my chart clearly shows.
Sydney was grossly overpriced, that's why it languished even as the other aussie cities boomed. Now the good times are over so I can't see Sydney going any higher in the next 5 years.
All the experts from the rba governor down are warning of a big correction there yet shadow wants us to believe it will a million dollar city in year or two. Your desperation would be laughable if it wasn't so pathetic.
In the one post you have managed to claim Sydney has experienced very little growth in 10 years and also that it's over priced and needs a correction.
The same? Bullshit. It would be the same if it was sustained for another 5. Now it's just an anomaly. Just because you NEED prices to double in 10 years doesn't mean they will. Sydney has failed to do that through the greatest boom in modern history. As my chart clearly shows.
Sydney was grossly overpriced, that's why it languished even as the other aussie cities boomed. Now the good times are over so I can't see Sydney going any higher in the next 5 years.
All the experts from the rba governor down are warning of a big correction there yet shadow wants us to believe it will a million dollar city in year or two. Your desperation would be laughable if it wasn't so pathetic.
Prices roughly double every 10 years that has been a very reliable heuristic for growing cities for hundreds of years. Anyone who believes the GFC had the power to change this forever is pretty naive IMHO.
20% growth in a market like Sydney is nothing it could hit 30% after the price stagnation since 2003. The stock selling from the GFC backup has cleared and there may be some serious price inflation as the market plays catch up.
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.
That was just the preliminary prediction. I refined it shortly afterwards to approaching $1 million by 2015, and that one hasn't changed.
I only have an 80-90% success rate with my predictions, I don't get them all right. But I have found that an 80-90% success rate is still sufficient to profit from them.
I like 'approach' because it irritates the bears, especially Earthsta, but since he appears to have vanished without a trace, let's say high 900s.
I already did clarify that this is what it means in a discussion with Zaph somewhere on the forum about a year ago.
So, are we talking $950,000.01? Australian dollars, or US or Canadian?Nahhh. I'm calling the top. Probably rise for a couple of months of Spring then peter out. I reckon you'd be lucky to be any higher at xmas than today. Melbourne also. I even expect the national average to drop. Using RP data. I think by xmas Brissy will be the only market not looking crap.
Basis - world economy.
If I'm wrong I'll chew my throng. (Australian not British)
skamy is right that prices double every 10 years, it is because that is how much the money supply increases. People with money in the bank at 3% interest is pretty stupid when you see all the inflation.
Gold is a good hedge, but property is better as banks will let you leverage against it, so even if gold goes up more, because you are not leveraged you will not make as much money.
skamy is right that prices double every 10 years, it is because that is how much the money supply increases. People with money in the bank at 3% interest is pretty stupid when you see all the inflation.
Gold is a good hedge, but property is better as banks will let you leverage against it, so even if gold goes up more, because you are not leveraged you will not make as much money.
Inflation's bull run is over. You heard it here first.
------------------------------ " ... which is that all-too-familiar dynamic in Irish life where people tell lies, cover them up and create all sorts of collateral damage, sometimes spread out over decades, and never take responsibility." - Alan Glynn
skamy is right that prices double every 10 years, it is because that is how much the money supply increases. People with money in the bank at 3% interest is pretty stupid when you see all the inflation.
No. They used to, but that all ended in 2007. Haven't you seen the charts for brisbane, perth, adelaide? No aussie city is anywhere near the old gains and Sydney went nowhere for nearly a decade.
Then you habe to look at what is actually driving the median gains these days. It isnt increases in common unimproved houses, it's the sales of properties that have been extensively renovated, or torn down and new homes built on the site. This is a relatively new phenomena. 20 years ago people just bought and sold homes and lived in them. They didn't spend $200 000 on decks and kitchens and carports before they resold them.
Ask shadow how much his unimproved sydney rental has risen. He won't answer the question because it probably hasn't.
Shadow was hopelessly wrong about the Gold Bull Market. What else is he wrong about?
My prediction is that the Sydney median house price will approach $1M by 2015 as measured by the Residex index. I haven't specified any particular day or month in 2015.
That prediction is unchanged.
so it could be by 2016 then Shady?
Of course transmuting into "will approach $1,000,000".
Those things on the end of your hands are fingers mate.
You really are pulling the wrong thing Mr 10 dicks.
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