You gotta laugh Veritas celebrating a 0.05% price drop after all this crash spruiking.
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.
You gotta laugh Veritas celebrating a 0.05% price drop after all this crash spruiking.
Veritas has always maintained the house prices are sticky on the way down.
Laugh it up Skamy, but the facts are these:
Listings up Sales down Rents down Vacancy rate up Prices down.
Is this what the recovery you tout looks like?
Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?
The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly. Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
Didn't Peter Fraser say RPData normally rises in October and if it does not then watch out?
Peter is bearish on Perth.
And the east coast bulls steer well clear of these threads.
Speaks volumes.
Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?
The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly. Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
History tells us that prices wont go up on a steep chart forever and vice versa.
The bulls should never think that the growth rate will always be high and the bears should never think that the fall will always be massive.
The markets go up, come down, go up, come down - again and again. who doesn't know that? They are just economic cycles.
But the bulls here seem to think that prices will always BOOM and up up up they go and bears here seem to think that prices will always CRASH
Whats up with that?
Yes it can BOOM or BUST if the market drifts away from the fundamentals big time. Like when we had the mining boom where commodity prices skyrocketed beyond anyone's imagination. Like when US gave out home loans like free tickets even to people who could not afford to pay.
Those things are not happening at the moment. The Perth prop market is doing what it is doing. It may have gone a bit too far ahead of the fundamentals. Building approvals are high. Job market is not that great and hence the population growth rate has slowed down a bit (albeit still the highest in the Nation and still very high compared to other 1st world countries).
It is healthy for the market to take a breather or slow down a bit to let the fundamentals catch up.
Now may not be a good time to buy at market price as the market takes a breather but there will always be opportunities to profit from the market movement as desperate sellers sell below market price or desperate buyers buy emotionally.
No BOOM. No CRASH. Just don't be the desperate seller or the emotional buyer.
You gotta laugh Veritas celebrating a 0.05% price drop after all this crash spruiking.
Was it not you and Mike who were celebrating the freak jump in RP data numbers a few weeks back?
Now we have fallen back into negative territory it is suddenly no big deal?
A ten point fall in a week. You guys must be shitting bricks.
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.
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