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Sydney housing market is overvalued by 40%
Topic Started: 16 Nov 2016, 04:44 PM (4,103 Views)
herbie
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Rufus
16 Nov 2016, 06:53 PM
No it can fall by 40% and in fact it can fall by more than that, but it doesn't mean it will fall by 40%
Thinking about it a bit more even, I really am startin' ta warm ta ya suggestion Simon waits for that 40% drop in Sydney before buying - It's important for people ta feel at least a little bit comfortable with big decisions like buying a home I reckon.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Terry
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herbie
16 Nov 2016, 07:33 PM
Thinking about it a bit more even, I really am startin' ta warm ta ya suggestion Simon waits for that 40% drop in Sydney before buying - It's important for people ta feel at least a little bit comfortable with big decisions like buying a home I reckon.
Well Jethro, in the TV comedy Beverly Hillbillies, the Clampetts moved to Beverly Hills after striking rich from Texas Tea (oil). Price was not the issue for them. Ironically, the exchanges between the Clampetts and the bank manager was already entertaining. The bank manager was always looking to manage the Clampett's savings. Quite a far cry to banking relationships in 2016 in Australia, which are driven primarily by debt peddling for houses.
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Rufus
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Simon_S
16 Nov 2016, 07:11 PM
It Can.....But Won't because...........

So are you trying to say that SQM are wrong that the

So they are Well Known Experts but you know more?

So there's no Dangerous Housing Bubble?
Nope I never said any of that, it's just another strawman argument.
Take risks - if you win you will become wealthy, if you lose you will become wise
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Terry
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Rufus
16 Nov 2016, 08:33 PM
Nope I never said any of that, it's just another strawman argument.
"Strawman argument" has unfortunately entered the suburban vernacular and bandied around inappropriately.
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Rufus
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herbie
16 Nov 2016, 07:33 PM
Thinking about it a bit more even, I really am startin' ta warm ta ya suggestion Simon waits for that 40% drop in Sydney before buying - It's important for people ta feel at least a little bit comfortable with big decisions like buying a home I reckon.
I'm hoping he waits for an 80% fall in Sydney prices.
He's done his homework and he can't be wrong, can he?
Take risks - if you win you will become wealthy, if you lose you will become wise
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Trollie
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Simon_S
16 Nov 2016, 04:44 PM
Wow..............According to one of the country’s most well known property experts.
Just like Steve Keen?

:lol
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herbie
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Rufus
16 Nov 2016, 08:35 PM
I'm hoping he waits for an 80% fall in Sydney prices.
He's done his homework and he can't be wrong, can he?
Well future possible being 'right' or 'wrong' considerations aside, he's either a troll, in which case he should be ignored; Or he's not - In which case he's serious 'n needs to be at least a little bit comfortable with a big decision like buying a home - 'N at this time he's very obviously not.

Hmmm - Like hey, who in their right mind would put any effort inta trying ta convince Steve Keen that now just mightn't be a bad time ta buy in Sydney? 'Cause even if ya did turn out ta be 'right', tha experience would be considerably less rewarding than talkin' ta a rock No?
Edited by herbie, 16 Nov 2016, 08:58 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Simon_S
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Rufus
16 Nov 2016, 08:35 PM
I'm hoping he waits for an 80% fall in Sydney prices.
He's done his homework and he can't be wrong, can he?
But I thought SQM were Experts.........
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Rufus
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herbie
16 Nov 2016, 08:52 PM
Well future possible being 'right' or 'wrong' considerations aside, he's either a troll, in which case he should be ignored; Or he's not - In which case he's serious 'n needs to be at least a little bit comfortable with a big decision like buying a home - 'N at this time he's very obviously not.

Hmmm - Like hey, who in their right mind would put any effort inta trying ta convince Steve Keen that now just mightn't be a bad time ta buy in Sydney? 'Cause even if ya did turn out ta be 'right', tha experience would be considerably less rewarding than talkin' ta a rock No?
People following Steve Keens advice have literally been screwed again and again.
Yet he was so sure....
Simon_S
16 Nov 2016, 09:05 PM
But I thought SQM were Experts.........
They are, but they didn't forecast a 40% fall in prices.

Pay the money and buy the report.
Edited by Rufus, 16 Nov 2016, 09:09 PM.
Take risks - if you win you will become wealthy, if you lose you will become wise
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Simon_S
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Don't need to:

Quote:
 
SYDNEY’S property market is overvalued by 40 per cent and the Reserve Bank needs to take steps to stop a “a dangerous housing bubble”, according to one of the country’s most well known property experts.


This is more than enough for me.........

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