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WA Population Growth Collapse Thread; Lets Track it as it falls.
Topic Started: 29 Oct 2014, 05:03 PM (3,684 Views)
Veritas
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Jimbo
31 Oct 2014, 09:33 PM
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.
Breakfast in Chez Mike and Skamy is going to be an uncomfortable affair too.

Tommorrow's West is full of bad news for team bull. :lol
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
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Jimbo
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Veritas
31 Oct 2014, 11:01 PM
Breakfast in Chez Mike and Skamy is going to be an uncomfortable affair too.

Tommorrow's West is full of bad news for team bull. :lol
Woolworths are selling 20 rolls of dunny paper for $10 this weekend.

With what is happening to the the WA economy, 20 rolls for $10 is a good entry level price for the next big WA asset class.

Sick buckets, anti depressants, for sale signs, tents and used boat yards are also set to do well over the next few years.

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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Perth just got ahead of itself. It happens to all markets at one stage or another.
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Foxy
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Zero is coming...

https://au.news.yahoo.com/thewest/a/25391202/hedland-hotel-loses-bid-to-cut-guards/

We owned this hotel for 25 years.

My father and i where the security for the short time we ran it . 12 months.


It is as they say the most violent hotel in the world.

I am not sure why, we where in fights most nights.

Anyway for reasons i will not go into at the moment this is a very difficult hotel to run.

It's not just the violence , we used to love that.

It's the location.

The Esplanade is just down the road and they have spent about $25m upgrading it.

The Pier in my opinion has nowhere to go.

Sad.

Peter


https://au.news.yahoo.com/thewest/a/25391202/hedland-hotel-loses-bid-to-cut-guards/

We owned this hotel for 25 years.

My father and i where the security for the short time we ran it . 12 months.


It is as they say the most violent hotel in the world.

I am not sure why, we where in fights most nights.

Anyway for reasons i will not go into at the moment this is a very difficult hotel to run.

It's not just the violence , we used to love that.

It's the location.

The Esplanade is just down the road and they have spent about $25m upgrading it.

The Pier in my opinion has nowhere to go.

Sad.

Peter

Edited by Foxy, 1 Nov 2014, 11:32 AM.
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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skamy
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Veritas
31 Oct 2014, 11:01 PM
Breakfast in Chez Mike and Skamy is going to be an uncomfortable affair too.

Tommorrow's West is full of bad news for team bull. :lol
Dont you ever get sick of jumping on every article with bad news hoping on hope for your crash fantasy.

What happened to all your talk of a 20% drop a few weeks ago hey? Meanwhile Perth just goes on as usual. Have u been out to home opens in the FTB market?

What happened to those low ball offers you were making a few weeks ago?
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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newjez
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skamy
1 Nov 2014, 11:55 AM
Dont you ever get sick of jumping on every article with bad news hoping on hope for your crash fantasy.

What happened to all your talk of a 20% drop a few weeks ago hey? Meanwhile Perth just goes on as usual. Have u been out to home opens in the FTB market?

What happened to those low ball offers you were making a few weeks ago?
Stressed much? To be fair, Mike jumped on the up figures with his usual crap, so it's only fair to prove him wrong. Yet again.esse
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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Veritas
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skamy
1 Nov 2014, 11:55 AM
Dont you ever get sick of jumping on every article with bad news hoping on hope for your crash fantasy.

What happened to all your talk of a 20% drop a few weeks ago hey? Meanwhile Perth just goes on as usual. Have u been out to home opens in the FTB market?

What happened to those low ball offers you were making a few weeks ago?
Feeling the heat Skamy?

All your talk of a market recovery after the post GFC slump is not being borne out by the facts.

I understand your sense of frustration.

It must be upsetting to invent a whole new theory of economics (Skaminomics) and then discover its a steaming pile of shit.

Right now, all over the city, investors, levered to the eye balls, are reading the West and feeling rather queasy.

Hilarious.

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
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TheTruth
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Veritas
1 Nov 2014, 02:01 PM

Right now, all over the city, investors, levered to the eye balls, are reading the West and feeling rather queasy.
Why do you feel the need to invent imaginary narratives if your position is so strong?
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Veritas
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TheTruth
1 Nov 2014, 02:48 PM
Why do you feel the need to invent imaginary narratives if your position is so strong?
Whats imaginary about it?

If you levered into Perth property in the last 12 to 18 months you ought to be very worried.

Prices are falling.

Rents are down

Listings are up

Sales are down

Vacancy rate is up 50% yoy

How do you like them apples?

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
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TheTruth
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Veritas
1 Nov 2014, 03:48 PM
Whats imaginary about it?

If you levered into Perth property in the last 12 to 18 months you ought to be very worried.

Prices are falling.

Rents are down

Listings are up

Sales are down

Vacancy rate is up 50% yoy

How do you like them apples?
I note with great interest you refuse to quote number for everything except the vacancy rate. Surely you have those numbers at your disposal since you are quoting them being up or down?

This is because you are trying to craft the most emotional message you can. This is also why you are in this predicament.
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