So you can't back peddle later. It's been noted that you still haven't provided a link. I think it's hilarious that he thinks we are the same person. I know you are on the other end laughing your arse off because we both know he's wrong.
Jimbo comes out with the sock puppet claim every time the heat gets to much for him and he cant refute the facts.
Quote:
The 100,000 is what has caused the need for more building, they are still playing catch up. Your mistake is thinking all of those 100,000 are already finished building/buying.
They have still have not worked it out. Yes we have had massive population growth over the past few years, yet no response from construction. Only now in 2014 has construction really begun to kick off. Just to prove my point, construction levels now are only equal to the same levels of 1994 (20 years ago). For the past 20 years we have underbuilt homes and hence the run up in prices over a sustained period.
A large population increase with no supply response has been the base on which house prices have increased. Supply now is only just starting to meet demand. This is a good thing.
As I have said many times, I would much rather see long term growth of 5% per year then spurts of 10%+. Keep the supply coming as it supports the economy, provides jobs and increases the supply of housing so prices do right quickly.
The biggest area of construction is houses, it is booming. Each of those houses has an owner, not many people build houses to rent out. The apartment blocks going up are mostly on sold off the plan, prior to even starting construction most have to have 60% sales. Perth has undergone a large change in the past few years, to live in apartments and 3x2 houses. The 4x2 is now on a downward spiral as land sizes get to small or to far out for a lot of people.
Im sure in 2 more years from now we will still be hear having the same conversations with a new lot of bears or as Jimbo calls its, new sock puppets.
Jimbo comes out with the sock puppet claim every time the heat gets to much for him and he cant refute the facts.
They have still have not worked it out. Yes we have had massive population growth over the past few years, yet no response from construction. Only now in 2014 has construction really begun to kick off. Just to prove my point, construction levels now are only equal to the same levels of 1994 (20 years ago). For the past 20 years we have underbuilt homes and hence the run up in prices over a sustained period.
A large population increase with no supply response has been the base on which house prices have increased. Supply now is only just starting to meet demand. This is a good thing.
As I have said many times, I would much rather see long term growth of 5% per year then spurts of 10%+. Keep the supply coming as it supports the economy, provides jobs and increases the supply of housing so prices do right quickly.
The biggest area of construction is houses, it is booming. Each of those houses has an owner, not many people build houses to rent out. The apartment blocks going up are mostly on sold off the plan, prior to even starting construction most have to have 60% sales. Perth has undergone a large change in the past few years, to live in apartments and 3x2 houses. The 4x2 is now on a downward spiral as land sizes get to small or to far out for a lot of people.
Im sure in 2 more years from now we will still be hear having the same conversations with a new lot of bears or as Jimbo calls its, new sock puppets.
Too bad there is nothing left to support or sustain this joke going forward Mike.
Its all downhill from here Mike .If everything was not going completely downhill you might have an argument. But when everything is heading downhill fast, and I mean EVERYTHING, you have no argument left. The only questions now are, how far will this fall and for how long .
Only time can answer those for us now Mike.
Honestly mate, you still cannot see the severe decline unfolding in front of your face.
Its never been any clearer than now, but will become moreso as time goes by.
The 5 cap city aggregate finished the year up 8.16%.
It means for the year ending 2014, the average house in Australia now costs $50,000 more to buy. I wonder how small the percentage is of people who managed to make $50,000 off their other investments?
Your 2.2% growth is based on the twelve months to June 30th 2014.
In that period we added 54,382. The twelve months to June 2013 we added 82,156.
The last two quarters of data (March & June 2014) we added 24,014 in total. Those same quarters in 2013 we added 40,644.
As I mentioned a few months back, 457 applications (the largest visa category) have plummeted by 47% so growth is going to slow further.
It doesn't matter what you think may happen in 20 or 30 years time, our property market has geared up for 70,000 people coming this year and only 45,000 (max) are going to turn up.
Prove it that the property market has geared up for the increase. I doubt you can because the property market in WA does not work like that does it. A house does not get built until it has an owner here, spec builders are a minuscule part of the market. Even units need a large number of sales before they will get financed. The truth is that Perth will have great difficulty keeping up with housing if the population continues to grow at these boom rates.
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.
I haven't lost anything. I have made more from my invested capital than I would have made by keeping my house.
That is not going to happen.
Of course it is going to happen Jimbo - Perth prices almost always grow. There is still heaps of money being made on resources and everything else in WA, volumes are huge and employment is just fine. Sure people are cutting back a bit, but really the drama is a storm in a teacup. Perth resources companies have been through much worse and house prices continued to move upwards. You are gambling on a very low odds outcome.
You have bet all your money on prices falling in the wealthiest state with the lowest unemployment, the highest % population growth and the highest wages. On top of that you are betting on further falls after almost a decade of price stagnation. The last time Perth prices dropped was after 17 years of solid growth from 1991 to 2007 and the house prices had grown from a median of less that $100K to over $450K. Prices did nothing between 2007 and 2012 and growth has been patchy since, a house price crash at this time is ridiculously unlikely.
The time before that when prices dropped in the 90s was also after 16 years of solid growth.
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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