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We have high housing prices because 'we' want high housing prices; Figure out some way to get 'us' wanting low housing prices and we just might get low housing prices
Topic Started: 1 Oct 2014, 08:18 PM (2,190 Views)
Dr Watson
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Black Panther's much-discussed transmutation appears to be in full swing:

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Edited by Dr Watson, 3 Oct 2014, 08:43 AM.
The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt — Bertrand Russell
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Come on my fellow people, think think think! We have high house prices because we have high house prices, there is no wanting to do with it. We have cheap computers because that's how they ended up, expensive oil because that's what we ended up with. Everything in human affairs is a consequence of our actions and any planning we Institute is eventually steam-rollered over.

don't try and ascribe rational planning to the myriad of human systems. It's a bootless argument, all it achieves is more jobs for politicians and their friends.

In our modern system of finance, debt creation runs out of control and is not kept steady as the original planners intended. The money created has flowed into houses, and pushed their prices up. The marketing of houses as profit generating investments certainly helped this process, just as much as the notion that people are hopeless savers and that buying a home and paying essentially over twice what it's worth back to a bank after interest charges is a wise course to take in life.

So where are we? We're at the point where house prices are all but unaffordable for those who just want to buy one and use it as shelter, the original intention of a home in other words. We are also at the point where debt creation to buy them is failing because you need a strong growing economy to allow endless debt creation.

No go back to squabbling about details of bank rates and political decisions and leave the big picture to those who will profit from it. Remember, money flows upward, the rich get richer. So if you're not at the top, then you are part of the bottom. You're getting milked to provide wealth for those well above you.
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Black Panther
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Dr Watson
3 Oct 2014, 08:42 AM
Black Panther's much-discussed transmutation appears to be in full swing:

Posted Image
Thank you Dr for highlighting this.

But how lamentable is the bear denial on this forum. Still waiting for their return to mean AFTER
a big collapse in prices.

Very sad, they got plenty of warning, and clearly still don't understand what a transmutation is.

Their destiny is pretty much sealed from this point on.
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CSI
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"Transmutation" = big property investors are going to buy up all the housing stock. All of it. Then charge the earth for rent, so the majority of the population are going to be trapped in abject poverty for generation after generation due to having to pay these exorbitant rents. Is this the Transmutation?
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Dr Watson
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CSI
3 Oct 2014, 09:25 AM
"Transmutation" = big property investors are going to buy up all the housing stock. All of it. Then charge the earth for rent, so the majority of the population are going to be trapped in abject poverty for generation after generation due to having to pay these exorbitant rents. Is this the Transmutation?
The transmutation is, in some ways, a modern version of what it was like in the middle ages, with the feudal lords and the serfs. (Save for the part where the lords had the "right to ravish" the wives and daughters of the serfs, which thankfully, remains the middle ages where it belongs.) History moves in circles, not straight lines, and investors snapping up all the housing stock, would suggest we might be reverting to an earlier time. The transmutation is an unambiguously bad thing, and such unequal conditions have, in the past, led to rebellion and revolution when the people of a nation felt the government was no longer formulating policy in their best interests. Round and round we go.
Edited by Dr Watson, 3 Oct 2014, 09:35 AM.
The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt — Bertrand Russell
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John Frum
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Dr Watson
3 Oct 2014, 09:32 AM
The transmutation is, <snip docs feudalistic rape fantasies>

The transmutation is a pretentious way of saying 'this time it's different'.

"It were not best that we should all think alike; it is difference of opinion that makes horse races." - Mark Twain on why he avoids discussing house prices over at MacroBusiness.
"Buy land, they're not making any more of it." - Georgist Land Tax proponent Mark Twain laughing in his grave at humourless idiots like skamy that continually use this quip to justify housing bubbles.
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Dr Watson
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John Frum
3 Oct 2014, 09:57 AM
The transmutation is a pretentious way of saying 'this time it's different'.
No, it's a way of saying we're reverting to how it used to be.
Edited by Dr Watson, 3 Oct 2014, 10:02 AM.
The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt — Bertrand Russell
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John Frum
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Veritas
2 Oct 2014, 05:14 PM


You don't understand basic economics.

Why? because you make no attempt to.

She certainly doesn't.

But her role here at APF is a useful one - she provides to reasonably intelligent people an example of the stupidity that has gripped this country.

In a way i think Herbie might be onto something though. There may be an evolutionary reason in favour of high house prices - enslaving with debt servitude by offering them the dream of 'owning' a live-in asset that magically keeps rising in real terms and making them rich keeps people busy and focused. You know, the whole 'knuckle down and pay it off' mantra that bulls bleat on about.

The only problem being of course is that, similar to a ponzi scheme, it's inherently unstable for reasons we all know.
Dr Watson
3 Oct 2014, 10:01 AM
No, it's a way of saying we're reverting to how it used to be.
Oh, you mean like before basic medical care, human rights, cheap and powerful communication tools etc...all this devolution just so little Doc doesn't have to drink cleanskins for the rest of his life??
Edited by John Frum, 3 Oct 2014, 10:21 AM.
"It were not best that we should all think alike; it is difference of opinion that makes horse races." - Mark Twain on why he avoids discussing house prices over at MacroBusiness.
"Buy land, they're not making any more of it." - Georgist Land Tax proponent Mark Twain laughing in his grave at humourless idiots like skamy that continually use this quip to justify housing bubbles.
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Dr Watson
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John Frum
3 Oct 2014, 10:13 AM
Oh, you mean like before basic medical care, human rights, cheap and powerful communication tools etc...all this devolution just so little Doc doesn't have to drink cleanskins for the rest of his life??
Come now, John. I don't say it's a good thing. I'm not cheering it on. I don't wish you misfortune. But one must deal with reality. You owe it to yourself to start basing your decisions on the way the world is now — not the way you think it should be. The RBA has plans for you whether you like it or not.
Edited by Dr Watson, 3 Oct 2014, 10:30 AM.
The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt — Bertrand Russell
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CSI
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So prices are never going to drop substantially across the board. Property investors are going to keep buying buying raising the price to some sky high level. It will plateau at that level, a price level which will be so fantastically expensive it will exclude the vast majority of Australians from the hope of ever buying property.
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