"The truth is that there are no good men, or bad men. It is the deeds that have goodness or badness in them. There are good deeds, and bad deeds. Men are just men."
No need to sigh. I'm sure you're going to suggest that the WA mining boom sucked in the nation's financial resources or something similar echoed through the propaganda channels.
You can't on one hand say iron prices going from 10 to 50 dollars a tonne was responsible for the housing boom, and on the other the minor glitch has us at 50 tonne now. So you think that iron prices will go back to 10 a tonne? And that is the basis for the doom and gloom.
Even if they go back down , even when they were back down at their lowest point. Mining GDP never decreased... more money goes somewhere right ?
Also. What happened when the spot price went up to $150 a tonne. Why did this have no effect on house prices? That is 300% more than when the house price stopped climbing? And prior to the capex increase, and while more jobs were created ? No change ?
You can't on one hand say iron prices going from 10 to 50 dollars a tonne was responsible for the housing boom, and on the other the minor glitch has us at 50 tonne now. So you think that iron prices will go back to 10 a tonne? And that is the basis for the doom and gloom.
Even if they go back down , even when they were back down at their lowest point. Mining GDP never decreased... more money goes somewhere right ?
Also. What happened when the spot price went up to $150 a tonne. Why did this have no effect on house prices? That is 300% more than when the house price stopped climbing? And prior to the capex increase, and while more jobs were created ? No change ?
Iron ore prices at $150 a tonne are more conducive to driving "good vibes" in the suburbs compared to $10 a tonne. Those higher prices are also conducive to high wages for toilet cleaners in the Pilbara. And don't forget, they work well in media reports and Joe Hockey speeches focused on rationalizing our good fortune and the association with house prices.
The mining boom in WA was negative for house prices in Sydney and Melbourne, where the angst is.
I am not sure I would quite agree with that, however I am happy to be convinced if there is evidence.
I would have thought the mining boom led to more wealth, and FIFO workers ensured that this wealth was not simply -ve for Sydney and Melbourne, but rather, also flowed there.
The increase of population to WA did not exactly cripple Sydney or Melbourne's population, nor harmed the wealth that existed there and flowed to those cities.
You may well argue that it acted as a magnet for investors, sure, but that did not limit investors from also buying elsewhere... it seems unlikely that it was a negative as such for our two major capital cities when so much of the mining boom was directed to their states either directly, or indirectly... they benefited.
You would be debating against Philip Lowe if you believe otherwise.
I am not sure I would quite agree with that, however I am happy to be convinced if there is evidence.
I would have thought the mining boom led to more wealth, and FIFO workers ensured that this wealth was not simply -ve for Sydney and Melbourne, but rather, also flowed there.
The increase of population to WA did not exactly cripple Sydney or Melbourne's population, nor harmed the wealth that existed there and flowed to those cities.
You may well argue that it acted as a magnet for investors, sure, but that did not limit investors from also buying elsewhere... it seems unlikely that it was a negative as such for our two major capital cities when so much of the mining boom was directed to their states either directly, or indirectly... they benefited.
You would be debating against Philip Lowe if you believe otherwise.
Quote:
It would be very easy for a self employed person or the wealthy. I don't see any impediments at all.
Not so easy for a PAYG salary earner unless they had wealth. If they have money they could have a positively geared share portfolio also running under a company umbrella, or some similar investment.
It would make it difficult for the mum and dad investors, but not the more wealthy investors. Handing the market to the rich shouldn't be the goal of legislative change.
It would be very easy for a self employed person or the wealthy. I don't see any impediments at all.
Not so easy for a PAYG salary earner unless they had wealth. If they have money they could have a positively geared share portfolio also running under a company umbrella, or some similar investment.
It would make it difficult for the mum and dad investors, but not the more wealthy investors. Handing the market to the rich shouldn't be the goal of legislative change.
And that's the rationale why the mining boom was bad for Sydney and Melbourne? Maybe time for another exasperated sigh.
No, this issue had nothing to do with the slump in Sydney and Melbourne.
SIGHHHHH.............
OK, thanks for rolling it out anyway. So I guess in your opinion, without the mining boom, things would have been trucking along quite well in Sydney and Melbourne. Of course, you wouldn't know via an A/B comparison considering that the mining boom in WA "happened."
No need to sigh. I'm sure you're going to suggest that the WA mining boom sucked in the nation's financial resources or something similar echoed through the propaganda channels.
Certainly would have sucked up the human resources.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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