How could you possibly believe in a crash in a State with a growth of 3.5% unemployment of 6% and population growth? Use your head - do your own thinking- drop the doomsters they will impoverish and embitter you.
That growth is going to show up in the market at some stage, it always has before - you are gambling on the very very low odds outcome that the market will not return to normal at some stage. (ie revert to mean)
Was that an attempt to answer the question? Because you failed.
Your disregard for the facts is well known but for the benefit of other readers the fact is that population growth has collapsed. It’s not in reverse; but well down on the post GFC highs.
The last time the population was growing strongly we could tell: In 2011/12/13 there was a genuine shortage of rental properties with the rental vacancy rate falling sharply. Following that, there was a building boom, driven by investors in WA, which has brought on a great deal of new supply.
If the population was still growing strongly, most of that supply would have been soaked up by new arrivals. Unfortunately, the end of the mining boom heralded the end of the population boom hence the 5.7% vacancy rate.
Perhaps all the tenants are buying? Not likely, FTB numbers trending down and stock on the market at 17,000 and change is about 5,000 above what REIWA reckon is market equilibrium. How do you like them apples Skamy?
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
Was that an attempt to answer the question? Because you failed.
Your disregard for the facts is well known but for the benefit of other readers the fact is that population growth has collapsed. It’s not in reverse; but well down on the post GFC highs.
The last time the population was growing strongly we could tell: In 2011/12/13 there was a genuine shortage of rental properties with the rental vacancy rate falling sharply. Following that, there was a building boom, driven by investors in WA, which has brought on a great deal of new supply.
If the population was still growing strongly, most of that supply would have been soaked up by new arrivals. Unfortunately, the end of the mining boom heralded the end of the population boom hence the 5.7% vacancy rate.
Perhaps all the tenants are buying? Not likely, FTB numbers trending down and stock on the market at 17,000 and change is about 5,000 above what REIWA reckon is market equilibrium. How do you like them apples Skamy?
Veritas WA grew hugely because it had a huge investment in its future - the population grew very strongly for a while. that does not detract at all from the fact that population growth is still growing at a pace that would be considered strong anywhere in the world.
Your search for bad news in everything is blinding you to reality.
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.
Veritas WA grew hugely because it had a huge investment in its future - the population grew very strongly for a while. that does not detract at all from the fact that population growth is still growing at a pace that would be considered strong anywhere in the world.
Your search for bad news in everything is blinding you to reality.
The reality is 10,000 empty rental property and the primary industry for the State falling down a hole.
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
The reality is 10,000 empty rental property and the primary industry for the State falling down a hole.
There are not 10,000 empty rentals ya silly duffer that is just the number advertised there are many of these which are still leased and many are awaiting contract completion.
WA is growing by over 35K per annum roughly half that are migrants, 10K advertised rentals is no big deal when we have growth at that level.
Sorry Veritas but you do buy every story sold by the gloomy doomsters yet WA is actually still doing really well and would do even better if confidence lifted a little.
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.
There are not 10,000 empty rentals ya silly duffer that is just the number advertised there are many of these which are still leased and many are awaiting contract completion.
WA is growing by over 35K per annum roughly half that are migrants, 10K advertised rentals is no big deal when we have growth at that level.
Sorry Veritas but you do buy every story sold by the gloomy doomsters yet WA is actually still doing really well and would do even better if confidence lifted a little.
Yeah, no big deal unless you are a leveraged investor struggling to find tenants.
Perhaps rents are falling because landlords just feel like asking for less money?
Or what is it?
Why are rents falling Skamy?
MSN media conspiracy perhaps?
New York Times and Murdoch press drama queens scaring landlords into offering discounts?
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
Sorry Veritas but you do buy every story sold by the gloomy doomsters yet WA is actually still doing really well and would do even better if confidence lifted a little.
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.
There are not 10,000 empty rentals ya silly duffer that is just the number advertised there are many of these which are still leased and many are awaiting contract completion.
WA is growing by over 35K per annum roughly half that are migrants, 10K advertised rentals is no big deal when we have growth at that level.
Sorry Veritas but you do buy every story sold by the gloomy doomsters yet WA is actually still doing really well and would do even better if confidence lifted a little.
How could you possibly believe in a crash in a State with a growth of 3.5% unemployment of 6% and population growth? Use your head - do your own thinking- drop the doomsters they will impoverish and embitter you.
That growth is going to show up in the market at some stage, it always has before - you are gambling on the very very low odds outcome that the market will not return to normal at some stage. (ie revert to mean)
They say the best part of comedy is the timing. You're a comic genius!
Looks like it was a bit more than the 4500 I was told about.
edit: just read that its global workforce, will see how many are from the Perth office, interesting to see they are trying to delay the new building in Elizabeth Quay, I think there will be more of that from others soon
Its getting close to what I would value it at now, with the increase in air traffic and the new runway that are is going to be horrible to live in with flights coming over all the time
Yeah, no big deal unless you are a leveraged investor struggling to find tenants.
Perhaps rents are falling because landlords just feel like asking for less money?
Or what is it?
Why are rents falling Skamy?
MSN media conspiracy perhaps?
New York Times and Murdoch press drama queens scaring landlords into offering discounts?
Rents are falling off some huge highs - they will pick up again as the economy transitions. We have had no problems with any of ours we took a haircut of $30 a week on one and it was empty for a couple of weeks but good well priced rentals still rent out no bother. It is a good thing as Perth was a nightmare when we arrived and families were in distress trying to find a home at any price.
You think all investors have no head on their shoulders at all. Everyone knows that you will need to ride out some lows during the life of an IP - no one will rush for the doors or any such silliness that you bears wishfully believe.
If you were an investor what would you do?
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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