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Foxbats new prediction; House prices and all assets to come under pressure
Topic Started: 25 Nov 2015, 06:17 PM (59,372 Views)
Jimbo
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newjez
5 Feb 2016, 06:13 AM
I do get the impression that there are a lot of redundant fifo workers who will retire and live off investment property, many newly aquired.

But you can't make a fortune selling shovels after the gold rush.

I think a lot of people are missing the point. Skamy is aiming in the wrong direction.
My RE agent friend sold quite a few lower priced properties last year to investors. More than usual.

There was quite a spike up in vacancies last year, especially in the winter months.

Some of this would be due to people moving into newly built homes and apartments, some will be new investors entering the market.

I suppose if you are a redundant mining construction QC who used to be a two bob welder before the boom, it must be hard to go back to being a two bob welder.

Much easier to buy a few shit tip IP's and make a mint. Can't go wrong. All you have to do is undercut the competition. If the one down the road wants $420 a week, rent yours out for $390. Easy money.

On another note, it must be hard graft re-negotiating 1700 leases in a week and making a net loss. All that paperwork, all those contracts to sign. Just to make a loss.

Look at this silly bugger. Can't sell. Now listed for rent at $1350 a week. http://www.realestate.com.au/property-house-wa-south+perth-416927250

Posted Image

Having trouble renting it out too.

Posted Image

I'm guessing it is empty because it has been advertised for months and is "available now".

It is on the first page of rental listings on realestate.com.au.

Just pick any random rental listing, look it up on old listings and witness the pain for yourself. I found this by googling "Onslow Street South Perth rent old listings"

Simple fun.

Addenda: Just checked out the next listing http://www.realestate.com.au/property-townhouse-wa-burswood-417692166

Down from $595 in December 2013 to $470 today. Also "available now"

Didn't Skammy say that most new listings weren't really vacant or available?

On page three of realestate.co.au and so far, all are "available now"?






skamy
4 Feb 2016, 12:10 PM
Reiwa will always overshoot or undershoot on vacancy rate estimation. Why? because a few years ago people never even had to advertise a vacancy as the tenant would likely tell a friend as the market was so tight. So for many vacancies they would not even end up advertised on Reiwa. Now properties are advertised 3-4 weeks before the tenant vacates as the market is now a renters market. So one rental vacancy that may not have appeared at all now can show up over several weeks. Veritas is making the rookie mistake that 10,000 adverts is directly equivalent to 10,000 vacant rentals which is just silly.

Interesting point but total complete and utter bollocks.

On realestate.com.au they have added a nice new search feature.

You can select the date of availablility of rentals.

I chose "available now" (as in today).

7832 out of 10,539 are "available now".

8736 are available by this Sunday coming.

Sort of blows your bullshit theory out of the water doesn't it Skammy?

Now, how about listing all of those big projects that Perth has in the pipeline?

The ones that will see loads of ex fifo re-locate to Perth and fight eachother for places to live.

I can't wait to see that one...
Edited by Jimbo, 5 Feb 2016, 07:20 AM.
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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Foxy
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Zero is coming...

$2.25m @ 4.5% = $101,250.00 plus all out goings, You need a bigger truck :D
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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Jason
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foxbat
5 Feb 2016, 11:27 AM
$2.25m @ 4.5% = $101,250.00 plus all out goings, You need a bigger truck :D
At least the bank gets rich ...
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Foxy
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Zero is coming...

Jason
5 Feb 2016, 02:11 PM
At least the bank gets rich ...
For a time my good friend
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Jimbo
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skamy
8 Dec 2015, 08:46 PM
WA is growing by over 35K per annum roughly half that are migrants.
The last published figures from the ABS show that Perth grew at 33,000 over the year (to 30th June 2015)
Down from 42,000 the year before and 77,000 the year before that.

But the June quarter (to 30th June 2015) was 6710.

So to claim that Perth is growing by over 35,000 a year is an outright lie.

Just like your claim that Perth was growing by 80,000 a year was a pile of horseshit 18 months ago.

I told you back in 2014 that Perth would be lucky to hit 40,000 and you scoffed.

It only hit 33,000.

And that was up until June 30th 2015.

It will be sub 20,000 to June 30th 2016.

Bookmark this post.

Quote:
 
10K advertised rentals is no big deal when we have growth at that level.
75% of them empty right now. And we don't have migration growth of "that level".



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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Foxy
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Zero is coming...

Jimbo
6 Feb 2016, 06:57 AM
The last published figures from the ABS show that Perth grew at 33,000 over the year (to 30th June 2015)
Down from 42,000 the year before and 77,000 the year before that.

But the June quarter (to 30th June 2015) was 6710.

So to claim that Perth is growing by over 35,000 a year is an outright lie.

Just like your claim that Perth was growing by 80,000 a year was a pile of horseshit 18 months ago.

I told you back in 2014 that Perth would be lucky to hit 40,000 and you scoffed.

It only hit 33,000.

And that was up until June 30th 2015.

It will be sub 20,000 to June 30th 2016.

Bookmark this post.


75% of them empty right now. And we don't have migration growth of "that level".


Yes we do Skamy said so :D
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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Foxy
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Zero is coming...

Jim is a bit late to the party, but he's ingesting the picture, Foxbat told him...


http://www.zerohedge.com/news/2016-02-08/market-knows-its-over-jim-rogers-warns-were-all-going-suffer
Edited by Foxy, 10 Feb 2016, 01:31 AM.
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Foxy
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Zero is coming...

http://www.abc.net.au/news/2016-02-09/asx-share-sell-off-tops-40-billion-dollars/7153098

Tick tock dickheads...

Foxbat did tell you.

You see to get the 40% decline in real terms in your little wee houses it will take a few steps, but Foxbat did here the tapping of little feet....

Tap, tap, tap.....

Old foxbat updated me the other day in the sauna.

Good luck guys, but you have been warned...
Edited by Foxy, 10 Feb 2016, 10:27 AM.
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Foxy
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Zero is coming...

http://www.zerohedge.com/news/2016-02-09/jingle-mail-makes-comeback-canada-underwater-borrowers-mail-keys-back-banks
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Matthew
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foxbat
10 Feb 2016, 10:24 AM
You see to get the 40% decline in real terms in your little wee houses it will take a few steps, but Foxbat did here the tapping of little feet....
So you concede prices have not fallen 40%? Interesting dickhead.
My only hope for my three boys is that they turn out nothing at all like Chris.
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