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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 (2,187 Views)
skamy
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The standard advice is to buy and never sell as investment properties yield more the longer they are held.
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.
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Bardon
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Not sure why the op has been deleted but it must have been good if it is gone. As for house prices we know that entry level land prices in Australia were set many years ago as a suggestion by Edward Wakefield a British convict from his prison cell in London, as land was free before that. Its the very same theory that sees that we all still need to work a 40 hr week, this despite all the innovation and improvements that we have witnessed over the following two centuries.

The latest hyperbole by Carlos Fat Boy Slim the richest man in the world's call for a reduced working week will also not succeed. There are two types of income in this world, earned and unearned, Carlos Slim having the sole Mexican telecom monopoly takes the unearned wealth, most will be forced to accept the rest. Its up to individuals whether they want to start receiving some unearned wealth through land ownership or not. But at least theses days they have been advised of their options.

http://www.theguardian.com/business/2014/jul/21/carlos-slim-calls-for-three-day-working-week-to-improve-quality-of-life


"Wakefield suggested that instead of granting free land to settlers as had happened in other colonies, the land should be sold. The money from land purchases would be used solely to transport labourers to the colony free of charge, who were to be responsible and skilled workers rather than paupers and convicts. Land prices needed to be high enough so that workers who saved to buy land of their own remained in the workforce long enough to avoid a labour shortage."
Edited by Bardon, 4 Oct 2014, 06:20 PM.
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Stan
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Bardon
4 Oct 2014, 06:12 PM
Not sure why the op has been deleted but it must have been good if it is gone. As for house prices we know that entry level land prices in Australia were set many years ago as a suggestion by Edward Wakefield a British convict from his prison cell in London, as land was free before that. Its the very same theory that sees that we all still need to work a 40 hr week, this despite all the innovation and improvements that we have witnessed over the following two centuries.

The latest hyperbole by Carlos Fat Boy Slim the richest man in the world's call for a reduced working week will also not succeed. There are two types of income in this world, earned and unearned, Carlos Slim having the sole Mexican telecom monopoly takes the unearned wealth, most will be forced to accept the rest. Its up to individuals whether they want to start receiving some unearned wealth through land ownership or not. But at least theses days they have been advised of their options.

http://www.theguardian.com/business/2014/jul/21/carlos-slim-calls-for-three-day-working-week-to-improve-quality-of-life


"Wakefield suggested that instead of granting free land to settlers as had happened in other colonies, the land should be sold. The money from land purchases would be used solely to transport labourers to the colony free of charge, who were to be responsible and skilled workers rather than paupers and convicts. Land prices needed to be high enough so that workers who saved to buy land of their own remained in the workforce long enough to avoid a labour shortage."
Well put Bardon.

I agree with a lot of your views - and there's no doubt that inflation eventually erodes debt.

Thing is, there is a cycle within the larger cycle of inflation and I suspect your belief that we are at the beginning of a super cycle of price growth isn't accurate.

Didn't we just pip Canada in the 'who can have the highest RE price game'?

At what point does the market say "this is bullshit, I see better value elsewhere?"

I'm guessing that might happen well before 16 further years of rampant price growth :)
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