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When will the Bulls eat humble pie on WA?
Topic Started: 24 Mar 2017, 12:18 AM (19,193 Views)
Veritas
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Property prices still falling in WA.

The State's army of petit bourgeois landlords suffering from falling rents and high vacancy rates.

Longstanding WA bears have been proved right. The smart decision since at least 2013 has been to watch prices fall.

When will the bulls admit the WA bears were right?
Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?

The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly.
Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
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hidflect
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Veritas
24 Mar 2017, 12:18 AM
Property prices still falling in WA.

The State's army of petit bourgeois landlords suffering from falling rents and high vacancy rates.

Longstanding WA bears have been proved right. The smart decision since at least 2013 has been to watch prices fall.

When will the bulls admit the WA bears were right?
They're too busy mowing their tenants' lawns between working a second job to keep up with the interest-only loans. All the time mumbling to themselves how they are "Lords" and the dude sitting inside their house paying pennies for rent is a sucker.
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Veritas
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hidflect
24 Mar 2017, 12:22 AM
They're too busy mowing their tenants' lawns between working a second job to keep up with the interest-only loans. All the time mumbling to themselves how they are "Lords" and the dude sitting inside their house paying pennies for rent is a sucker.
Indeed.

Shadow or Lord Abrakedara or whatever he calls himself now had a dummy spit the other day on this: Rent is dead money! the cycle! rent serfs! the usual shit.

Fcking idiots forget every single time that interest payments on your mortgage is dead money too and that those on the sidelines will have plenty of warning before prices start rising again.

Rufus the same. You better buy! and month after months prices fall.

Fools.
Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?

The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly.
Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
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hidflect
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Veritas
24 Mar 2017, 12:25 AM
Indeed.

Shadow or Lord Abrakedara or whatever he calls himself now had a dummy spit the other day on this: Rent is dead money! the cycle! rent serfs! the usual shit.

Fcking idiots forget every single time that interest payments on your mortgage is dead money too and that those on the sidelines will have plenty of warning before prices start rising again.

Rufus the same. You better buy! and month after months prices fall.

Fools.
Lord Shabitat is a wealthy person who owns many multiple properties. Generally these people start from pre-existing family wealth and, lacking business nouse, do nothing more than establish themselves as rent-seeking economy extractors. What p1sses me off is how they sell this as the most brilliant maneuver ever conceived and urge everyone else to do as they do which will help him enrich his own position by encouraging demand but actually brings beggaring poverty to many believers who lack the capital to simply start with multiple properties. He can't help it. His self-validation is intricately bound to the need to be a Business Guru rather than just a simple extractor of other people's income by an act of exclusion to access of land.
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Matthew
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When prices fall 40% in real terms, not a second before.
Veritas
24 Mar 2017, 12:18 AM
Longstanding WA bears have been proved right.
Long standing WA bears have bled rent through their arses

Quote:
 
The smart decision since at least 2013 has been to watch prices fall.
Since when did anyone consider 4 years Long standing"?
hidflect
24 Mar 2017, 12:22 AM
They're too busy mowing their tenants' lawns
My tenants mow my lawns for me. Both in that they mow the lawns in my properties, and they pay for the guy to mow mine. Love my rentbitches.

Quote:
 
working a second job to keep up with the interest-only loans
My rentbitches are more likely to be working 2 jobs to save a deposit for a house and pay rent and pay their car loans and save for their entitled "holidays" than me.

Quote:
 
All the time mumbling to themselves
How unfair it is that they are mowing their masters lawns and dealing with rent inspections. Spot on you are rentbitch. Spot on.


Veritas
24 Mar 2017, 12:25 AM
You better buy! and month after months prices fall.

Fools.
If your rent outpaces the falls you are a fool. Simple.

Rent is currently outpacing falls. So you are a fool.

Over the past 5 years rent has outpaced the falls.

Over the past 10 years rent has outpaced the falls.

So you are a fool.

Simple.
Edited by Matthew, 24 Mar 2017, 01:19 AM.
My only hope for my three boys is that they turn out nothing at all like Chris.
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hidflect
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Matthew
24 Mar 2017, 01:13 AM
If your rent outpaces the falls you are a fool. Simple.

Rent is currently outpacing falls. So you are a fool.

Over the past 5 years rent has outpaced the falls.

Over the past 10 years rent has outpaced the falls.

So you are a fool.

Simple.
"Simple." Ah, the clamshell mind of the rentier class. Have you ever heard of "opportunity cost"? It's a very basic concept in business but it has nothing to do with delusions of superiority or stepladders so you you wouldn't have heard of it. Instead of throwing $700K into a pile of declining bricks I can make 30%PA (at the very least) on stocks. Currently I make my weekly rent in a day or less. Oh dear, the oven's on the blink. Fix it. Now, bitch!
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Rufus
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Veritas
24 Mar 2017, 12:25 AM
Indeed.

Shadow or Lord Abrakedara or whatever he calls himself now had a dummy spit the other day on this: Rent is dead money! the cycle! rent serfs! the usual shit.

Fcking idiots forget every single time that interest payments on your mortgage is dead money too and that those on the sidelines will have plenty of warning before prices start rising again.

Rufus the same. You better buy! and month after months prices fall.

Fools.
Perth houses are at or very close to the bottom. You really should have bought by now if you want a home for your family. I say that not because of price but options and choice. With a PPOR things like being close to schools, family, work, shops etc have a value, and as the level of stock declines those choices become limited.

It will still be good buying in Perth for the next 12 months, but you may have missed the very best buys. No big deal though.

Remember the population growth figures we got yesterday were for Q3 2016, they may not be what is happening today. Same for all of the other data although unemployment numbers and real estate data is pretty good.

But please wait until you see prices rising, apparently you need confirmation before you buy and you enjoy paying rent.

Take risks - if you win you will become wealthy, if you lose you will become wise
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newjez
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Rufus
24 Mar 2017, 07:25 AM
Perth houses are at or very close to the bottom. You really should have bought by now if you want a home for your family. I say that not because of price but options and choice. With a PPOR things like being close to schools, family, work, shops etc have a value, and as the level of stock declines those choices become limited.

It will still be good buying in Perth for the next 12 months, but you may have missed the very best buys. No big deal though.

Remember the population growth figures we got yesterday were for Q3 2016, they may not be what is happening today. Same for all of the other data although unemployment numbers and real estate data is pretty good.

But please wait until you see prices rising, apparently you need confirmation before you buy and you enjoy paying rent.
Actually it looked like prices were rising in January.

But they weren't.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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Rufus
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newjez
24 Mar 2017, 08:09 AM
Actually it looked like prices were rising in January.

But they weren't.
Always hard to predict the exact bottom before it happens. Marginal changes in the median price from month to month don't tell us much.
Take risks - if you win you will become wealthy, if you lose you will become wise
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Fruitbat
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hidflect
24 Mar 2017, 12:22 AM
They're too busy mowing their tenants' lawns between working a second job to keep up with the interest-only loans. All the time mumbling to themselves how they are "Lords" and the dude sitting inside their house paying pennies for rent is a sucker.
Spoken like a true renter.
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