You need to start buying useless crap Herbie to push that inflation rate up. Trouble is, we have everything we need.
Yes mate, I don't need any more worthless tat around tha joint either.
While I run hot 'n cold on it (just depending on what else I've got ta do), I'm sort of actively in tha process of culling it - 'N that can actually be quite cathartic I've found ...
A Professional Demographer to an amateur demographer:"negative natural increase will never outweigh the positive net migration"
Perth will turn around, but I doubt Matthew will be able to squash his fat arse into his easter bunny outfit by the time it does, and I dare say his kids will have stopped believing.
I can just see them now, huddled around the camp fire toasting marshmallows.
'Tell us again daddy, tell us again, the one where house prices used to rise in Perth. Yes tell us again that one daddy. We love your stories'.
'Well children, once upon a time, there was a mining boom ...'
That is all that has happened, the mining boom is finished, Karratha and Port Hedland were the canaries in the coal mine, Perth will stabilise, for sure, just when and by how much,
Foxbats call of a REAL TERMS fall of 40% from peak to trough.
If you try just try to get this,
I am looking at a property posted up on APF, it sold for $1,500,000 9 years ago,
it is now on the market for $1m, so lets say it sells for $900,000, maybe..
The owner has lets say a cost of capital of 6% over the last 9 years, average.
So interest expense ?? of say, $90,000 per year so $810,000 total cost of capital over 9 years, and throw in the option that it takes a year to sell.
Then rates and taxes on the property for 9 years, ?? at $3,000 per year, $27,000.
Maintenance of say $10,000 per year. $90,000.
Settlement costs and selling cost of say another ??$50,000.
Realestate.com.au now lists 19,840 properties for sale in Greater Perth.
This is a new listings record since I started tracking this number in 2014.
On the same day in 2014, this number was 14,212.
Listings are falling Mikey????
Really Mikey????
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.
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.
For those who are interested in Perth house prices, Citibank have just amended their serviceability requirements for investment houses. Instead of reducing rents by 20% as a buffer, they are now reducing rents by 30% for houses in WA only.
So far no other banks have followed them.
Take risks - if you win you will become wealthy, if you lose you will become wise
Not sure there is one yet. I received the policy announcement in an email this morning direct from Citibank. Note that Citibank don't lend in rural WA, they are strictly Capital City lenders, so read Perth where I said WA.
I thought that those interested in Perth might like to know this info.
Citibank are not major lenders in Australia, but now that they have made this policy change, I would expect other banks to consider it, especially for regions where IP owners are struggling to achieve the rental returns they may have historically achieved.
Take risks - if you win you will become wealthy, if you lose you will become wise
For those who are interested in Perth house prices, Citibank have just amended their serviceability requirements for investment houses. Instead of reducing rents by 20% as a buffer, they are now reducing rents by 30% for houses in WA only.
So far no other banks have followed them.
That is quite interesting.. thanks for sharing.
Seems like a sensible move... might hamper the prices from rising for a while, especially if other lenders join in.
Australian Property Forum is an economics and finance forum dedicated to discussion of Australian and global real estate markets and macroeconomics, including house prices, housing affordability, and the likelihood of a property crash. Is there an Australian housing bubble? Will house prices crash, boom or stagnate? Is the Australian property market a pyramid scheme or Ponzi scheme? Can house prices really rise forever? These are the questions we address on Australian Property Forum, the premier real estate site for property bears, bulls, investors, and speculators. Members may also discuss matters related to finance, modern monetary theory (MMT), debt deflation, cryptocurrencies like Bitcoin Ethereum and Ripple, property investing, landlords, tenants, debt consolidation, reverse home equity loans, the housing shortage, negative gearing, capital gains tax, land tax and macro prudential regulation.
Forum Rules:
The main forum may be used to discuss property, politics, economics and finance, precious metals, crypto currency, debt management, generational divides, climate change, sustainability, alternative energy, environmental topics, human rights or social justice issues, and other topics on a case by case basis. Topics unsuitable for the main forum may be discussed in the lounge. You agree you won't use this forum to post material that is illegal, private, defamatory, pornographic, excessively abusive or profane, threatening, or invasive of another forum member's privacy. Don't post NSFW content. Racist or ethnic slurs and homophobic comments aren't tolerated. Accusing forum members of serious crimes is not permitted. Accusations, attacks, abuse or threats, litigious or otherwise, directed against the forum or forum administrators aren't tolerated and will result in immediate suspension of your account for a number of days depending on the severity of the attack. No spamming or advertising in the main forum. Spamming includes repeating the same message over and over again within a short period of time. Don't post ALL CAPS thread titles. The Advertising and Promotion Subforum may be used to promote your Australian property related business or service. Active members of the forum who contribute regularly to main forum discussions may also include a link to their product or service in their signature block. Members are limited to one actively posting account each. A secondary account may be used solely for the purpose of maintaining a blog as long as that account no longer posts in threads. Any member who believes another member has violated these rules may report the offending post using the report button.
Australian Property Forum complies with ASIC Regulatory Guide 162 regarding Internet Discussion Sites. Australian Property Forum is not a provider of financial advice. Australian Property Forum does not in any way endorse the views and opinions of its members, nor does it vouch for for the accuracy or authenticity of their posts. It is not permitted for any Australian Property Forum member to post in the role of a licensed financial advisor or to post as the representative of a financial advisor. It is not permitted for Australian Property Forum members to ask for or offer specific buy, sell or hold recommendations on particular stocks, as a response to a request of this nature may be considered the provision of financial advice.
Views expressed on this forum are not representative of the forum owners. The forum owners are not liable or responsible for comments posted. Information posted does not constitute financial or legal advice. The forum owners accept no liability for information posted, nor for consequences of actions taken on the basis of that information. By visiting or using this forum, members and guests agree to be bound by the Zetaboards Terms of Use.
This site may contain copyright material (i.e. attributed snippets from online news reports), the use of which has not always been specifically authorized by the copyright owner. Such content is posted to advance understanding of environmental, political, human rights, economic, democratic, scientific, and social justice issues. This constitutes 'fair use' of such copyright material as provided for in section 107 of US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed for research and educational purposes only. If you wish to use this material for purposes that go beyond 'fair use', you must obtain permission from the copyright owner. Such material is credited to the true owner or licensee. We will remove from the forum any such material upon the request of the owners of the copyright of said material, as we claim no credit for such material.
Privacy Policy: Australian Property Forum uses third party advertising companies to serve ads when you visit our site. These third party advertising companies may collect and use information about your visits to Australian Property Forum as well as other web sites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here: Google Advertising Privacy FAQ
Australian Property Forum is hosted by Zetaboards. Please refer also to the Zetaboards Privacy Policy