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Rents now tanking in three capital cities. Who's next?
Topic Started: 24 Jul 2015, 06:18 PM (9,321 Views)
Shadow
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Evil Mouzealot Specufestor

The Whole Truth
25 Jul 2015, 02:27 PM
Canberra rents aren't stagnating, they are collapsing. Big difference.
Canberra rents are up over the past year, according to the data posted in the OP.
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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The Whole Truth
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Yes, houses are up 0.4% against a -13.2% collapse over the past 3 years. What was the old average rise in rents? 6% per year?
0.4% is not even worth mentioning but if it makes you feel better about life then by all means, ramp it up.
"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." John Stuart Mill
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stinkbug
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The Whole Truth
25 Jul 2015, 02:27 PM
Canberra rents aren't stagnating, they are collapsing. Big difference.
No they're not. They dropped a couple of years ago and have been basically stable since. Even the drops were pretty minor, and really just reflected an overshoot in certain areas.
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While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

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van
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Landlords don't care much about rents, capital gains is where the money is. Rent is a piss in the ocean compared 50% capital gains over a few years and negative gearing makes rental returns null, just buy property and minus any losses against taxable income.

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Jimbo
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stinkbug
25 Jul 2015, 06:30 PM
Even the drops were pretty minor, and really just reflected an overshoot in certain areas.
I am not against the undershoot/overshoot in "certain areas" argument.

I am not against using USD or AUD to measure asset prices.

I just wish we would all use the same unit of measure when determining the lengths of our cocks.
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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stinkbug
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van
25 Jul 2015, 07:29 PM
Landlords don't care much about rents, capital gains is where the money is. Rent is a piss in the ocean compared 50% capital gains over a few years and negative gearing makes rental returns null, just buy property and minus any losses against taxable income.

I have to disagree.

My strategy is to build a cashflow positive portfolio that eventually pays itself off. So far it's working well, and I'm now knocking off the debt at a good rate.
---------------------------------------------------------------

While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

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The Whole Truth
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van
25 Jul 2015, 07:29 PM
Landlords don't care much about rents, capital gains is where the money is.
Where the money was you mean. Most Australian capitals have slipped backwards in real terms to values at the peak 7 years ago. There is no money to made in property now unless you're selling something you purchased last century.
"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." John Stuart Mill
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Count du Monet
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24 Jul 2015, 08:10 PM
Darwin houses down 17.9% over 12 months..... WHOA!!!!
Darwin was a market for the brave or the foolhardy.

Rents tend to fall with interest rates and rise with interest rates.
The next trick of our glorious banks will be to charge us a fee for using net bank!!!
You are no longer customer, you are property!!!

Don't be SAUCY with me Bernaisse
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Count du Monet
26 Jul 2015, 12:18 PM
Darwin was a market for the brave or the foolhardy.

Rents tend to fall with interest rates and rise with interest rates.
Tend to ? You mean historically ? Historically though, have we ever built so much property at a time when our economy and jobs future has never looked worse ?

You still expecting a US rate rise this year count ?

And honestly ,has the world economy ever looked worse than now ? Certainly looks a lot worse than right before collapse in 2008. When a lot less debt was owed, and when there was a lot of room to drop rates. What a ponzi charade the whole thing is.



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stinkbug
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26 Jul 2015, 01:38 PM

And honestly ,has the world economy ever looked worse than now ?

Yes it has, on a number of occasions.
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While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

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