Fact is Iron ore prices today are 2x long term average. With more mines in operation employing more people.
So it is doubtful whether we will see resource companies chucking the kitchen sink at developing new sites then.
Of all the overpaid FIFO I have known, very few of them worked in operations.
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.
It appears to me that like Dimbo commenting on what he thought was happening in the UK which turned out to be a pile of shit you are falling into the same trap talking about what you think is happening instead of what is.
You may note I don't comment a lot on Qld, NSW, SA or Vic threads about pricing in property. Because I don't live there, I am not living amongst it, I am not looking at what is happening. So any opinion I may have is likely to be wrong.
Equally I don't comment on Brexit specifically because I was not close enough to it. I did defer to you on several occasions as someone living amongst it.
I think you can learn a bit from me in that regard. You don't live in Perth. You don't drive the streets of Perth everyday. You are not seeing the change in market dynamics. Good houses in good locations are selling quickly. Good houses in good locations continue to be tenanted.
You and Dimshit cheered rising listings as a reason for price falls. Yet you seem to think that falling listings will have no impact on the same.
You have an opinion. I wouldn't pay you a penny for it.
You don't, but I would advise some education for free.
Some things are more obvious from a distance Matthew.
Matthew
9 Sep 2016, 10:27 AM
So in 2004 when the Iron Ore spot price was US$16.39 for example and prices in Perth increased 13.5%?
Fact is Iron ore prices today are 2x long term average. With more mines in operation employing more people.
What sort of recovery are you wanting to see exactly? For a start the decline between September 9 last year and 7 this year is 331, not 333.
Semantics aside in true dimshit fashion you take a point in time that suits you. You ignore that listings rose an additional 2,659 in the next 11 weeks to 16,969.
They have since fallen 2,990 listings or 17.6%.
This time last year listings were rising. This year they are falling. Market is turning. Ignore it at your own peril.
Also, when you say long term average, is that from the adoption of spot pricing, as it makes little sense combining the two pricing methods.
I have lost a few grand on paper based on my misunderstanding of the peoples sentiment in a country where I haven't lived for nine years.
I should have known better.
How did your predictions of 10% Perth price rises go Skammy?
All that aside...
From where I am standing, right here, right now, Perth ain't going to be experiencing any kind of boom anytime soon.
Jimbo I am in it for the long term - I do not gamble with property, my rentals are ticking away and i am paying low interest rates and NO RENT.
You will not see a crash in Perth I told you that years ago - there is too much money in this wealthy city and house prices look cheap relative to the other capital cities. You believed a lot of nonsense from doomster blogs and it has cost you heaps of money in sales costs, rent and now lost opportunities. It is ok to get things wrong - you do not have to impoverish yourself chasing fanciful dreams of beach-side homes getting sold at bargain basement prices.
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.
You will not see a crash in Perth I told you that years ago - there is too much money in this wealthy city and house prices look cheap relative to the other capital cities. You believed a lot of nonsense from doomster blogs and it has cost you heaps of money in sales costs, rent and now lost opportunities.
What lost opportunities?
I can buy back what I sold, plus at least a decent median priced rental property, for cash and still leave a hefty wedge in the bank.
I don't pay any interest because I owe bugger all to anybody.
All because I saw an angle and took the opportunity.
My angle?
Perth was in the tail end of the biggest binge of excess I had ever witnessed in my life but most people didn't realise it was the tail end and thought it would go on forever. Time to sell and put my money elsewhere.
Seems like some are still in denial.
I wonder for how much longer?
Trollie
9 Sep 2016, 08:33 PM
The simple facts are Perth has a higher average wage but a lower median price than Sydney or Melbourne.
No crash is going to happen while that's in play.
Because house prices are simply related to average wages Trollie?
Nothing to do with Skammys, Mateys and Mikeys taking out huge lines of credit to buy IP's during a rental shortage then?
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.
You don't, but I would advise some education for free.
I know what commodities are. I also know referred "resources". Which resources exactly are you waiting for a rebound in prices for? Enlighten us all
Quote:
Some things are more obvious from a distance Matthew.
True. Despite the timezones and distance between us I can see plain as day that you are a knob.
Quote:
Also, when you say long term average, is that from the adoption of spot pricing, as it makes little sense combining the two pricing methods.
I suggest you do some actual research for a change. Go through the BHP and RIO historical annual reports, a bit of WA State Government treasury releases from the late 90's and early 00's. Knowledge is an incredible thing. Try and find some.
Jimbo
10 Sep 2016, 03:17 AM
Nothing to do with Skammys, Mateys and Mikeys taking out huge lines of credit to buy IP's during a rental shortage then?
Never did that either Dim.
Again if you are going to wander off on meaningless tangents please leave me out of them.
Jimbo
10 Sep 2016, 03:17 AM
I can buy back what I sold, plus at least a decent median priced rental property, for cash and still leave a hefty wedge in the bank.
Bullshit.
Quote:
Seems like some are still in denial.
Yes you certainly appear to be
Jimbo
10 Sep 2016, 03:17 AM
I wonder for how much longer?
So do I Dim. I wonder when the penny with drop for you that you f***ed this up.
So do I Dim. I wonder when the penny with drop for you that you f***ed this up.
In a 100m sprint, I am on 99.5m and 10m in front of you.
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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