Actually, a fall in sales is not uncommon this time of year. Last year, comparatively, there were fewer listings and a more buoyant market, so the pressure has been taken off to some degree. The general vibe among the industry is that there is no more listings coming on to the market, therefore we should not expect to see prices fall.
Actually, a fall in sales is not uncommon this time of year. Last year, comparatively, there were fewer listings and a more buoyant market, so the pressure has been taken off to some degree. The general vibe among the industry is that there is no more listings coming on to the market, therefore we should not expect to see prices fall.
Really? and your exposure to the general vibe is what exactly?
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
Actually, a fall in sales is not uncommon this time of year. Last year, comparatively, there were fewer listings and a more buoyant market, so the pressure has been taken off to some degree. The general vibe among the industry is that there is no more listings coming on to the market, therefore we should not expect to see prices fall.
Thanks Emmanuel. As usual, you cut large swathes out of the dooomsayer muck to reveal the bejewelled truth glittering behind it.
Mike, our bastion of common sense and reason on this board, also seems to concur.
I must admit I was a bit sceptical on first hearing his bold claims of continuing growth for the Perth real estate market in these uncertain economic times, but if you delve into his back catalogue of posts you are immediatly confronted with an urbane, worldly intellect, armed with stridently reasoned solutions to some of the thorniest political deadlocks on the global stage today.
A true seer to guide us through the murky financial undercurrents that baffle many of the so-called experts today, I wouldn't think twice before moving my money to an asset class that this man - wise beyond his years - was championing.
"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.
Acton director Travis Coleman said the slump in sales was not unusual for this time of year.
"I think 12 months ago there were fewer listings on the market and buyers felt more urgency to buy," he said. "Compared with last year's figures, listings are 25 per cent higher and this has definitely taken some of the pressure off the market.
"It has to be said that while they have risen and continue to rise they are still below what REIWA considers the equilibrium point. We are not seeing listings flood the market and are not expecting a downward push on prices."
Thanks Emmanuel. As usual, you cut large swathes out of the dooomsayer muck to reveal the bejewelled truth glittering behind it.
Mike, our bastion of common sense and reason on this board, also seems to concur.
I must admit I was a bit sceptical on first hearing his bold claims of continuing growth for the Perth real estate market in these uncertain economic times, but if you delve into his back catalogue of posts you are immediatly confronted with an urbane, worldly intellect, armed with stridently reasoned solutions to some of the thorniest political deadlocks on the global stage today.
A true seer to guide us through the murky financial undercurrents that baffle many of the so-called experts today, I wouldn't think twice before moving my money to an asset class that this man - wise beyond his years - was championing.
Emmanuel's role seems to be that of a Bull fluffer.
The WA bulls need his help.
Good on you E.
Emmanuel
1 Nov 2014, 02:02 PM
OK, well let's look at what the experts have to say:
Acton director Travis Coleman said the slump in sales was not unusual for this time of year.
"I think 12 months ago there were fewer listings on the market and buyers felt more urgency to buy," he said. "Compared with last year's figures, listings are 25 per cent higher and this has definitely taken some of the pressure off the market.
"It has to be said that while they have risen and continue to rise they are still below what REIWA considers the equilibrium point. We are not seeing listings flood the market and are not expecting a downward push on prices."
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
Emmanuel's role seems to be that of a Bull fluffer.
The WA bulls need his help.
Good on you E.
I suspect he's a bear whose lost his sanity after 5 or so years of watching the market continually defy the reversion to mean that he was expecting.
"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.
"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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