But the extent of the declines that canberra is seeing is the largest drops they have ever seen before and its the result of an economy collapsimg from what it once was and can never be again.
Utter garbage? I don't know about that. Canberra is really just akin to a big mining town when you look at it. It is a complete artificial construct, there was nothing there of value before it became the seat of federal government. No navigatable river, no ports, obviously, no big primary production centre. Now that government is having to scale back the effect is obvious. Falling rents, falling prices.
Aside from working for the government of providing services to it I can't imagine why anyone would choose to live there? It may well go the way of detroit or any number of other centres that lost their major industry.
Utter garbage? I don't know about that. Canberra is really just akin to a big mining town when you look at it. It is a complete artificial construct, there was nothing there of value before it became the seat of federal government. No navigatable river, no ports, obviously, no big primary production centre. Now that government is having to scale back the effect is obvious. Falling rents, falling prices.
Aside from working for the government of providing services to it I can't imagine why anyone would choose to live there? It may well go the way of detroit or any number of other centres that lost their major industry.
With Australia's economy expanding, population increasing, and with education becoming a major export, do you really think the seat of government, together with all the industry that generates, as well as having 6 universities, is going to be an economic backwater? Canberra property is already cheap compared with Sydney and Mebourne.
Canberra goes through these cycles, and this one is not as bad as the 1990s. As the public service cuts fade (and they're almost all finished now anyway after 4 years of downsizing) government will grow again. just as it always has.
Canberra is not a mining town - just the opposite in fact. It's industry renews time and time again and gets larger each time. It's cheap now compared to what it will be. Australia is a rich and prosperous nation, and will ride Asian growth for many decades yet. And the taxes and duties from all that work, effort and production flow through Canberra.
Buy the right properties in the right suburbs and it's a very stable long term play.
No Stinky, Canberra is the capital and so is the benchmark for economic activity. Melbourne and Sydney have more people but they are not as important economically. Canberra is the canary in the coal mine and you will soon see it spread across the country.
No Stinky, Canberra is the capital and so is the benchmark for economic activity. Melbourne and Sydney have more people but they are not as important economically. Canberra is the canary in the coal mine and you will soon see it spread across the country.
Good morning teddy!
Canberra, Sydney, Melbourne and other centres operate within their own market structures. Canberra does well when Australia does well, and slows down when Australia slows down. But it never surfs the big waves (like the Gold Coast, for example), and is never really reaches the lows either.
No Stinky, Canberra is the capital and so is the benchmark for economic activity. Melbourne and Sydney have more people but they are not as important economically. Canberra is the canary in the coal mine and you will soon see it spread across the country.
While this does look like something I might write and say , I did not make this post .
So as of monday , I will not be posting as MMM anymore. I might sign up as MMM, I might not. I might post just as guest, I might not. Does not really worry me either way
While I try and help many, many of you are just a waste of my time.
So as of monday morning, there will be no need to post up any postings under this MMM name Alex, we have enough imposters here already pretending to be something they never will.
Canberra, Sydney, Melbourne and other centres operate within their own market structures. Canberra does well when Australia does well, and slows down when Australia slows down. But it never surfs the big waves (like the Gold Coast, for example), and is never really reaches the lows either.
Just so you know stinky, the post your responding to was not made by me.
In the link below, this RE spriuker claims that during the 1990s downturn, Canberra house prices dropped 2.5% pa over three years. So we have something to gauge things off.
I dont know if this is the case or true, but would you agree on those figures or not ?
Just so you know stinky, the post your responding to was not made by me.
In the link below, this RE spriuker claims that during the 1990s downturn, Canberra house prices dropped 2.5% pa over three years. So we have something to gauge things off.
I dont know if this is the case or true, but would you agree on those figures or not ?
How about you sign up again just to keep things consistent?
I'd agree that during the mid 90's those figures would have been about right. The 90's stagnation ran for more like 6-7 years though, with a number of years dead flat.
How about you sign up again just to keep things consistent?
I'd agree that during the mid 90's those figures would have been about right. The 90's stagnation ran for more like 6-7 years though, with a number of years dead flat.
I might sign up again, the media seem to be doing enough talking for me now, which has been far from the case previously. When I was telling you all how screwed the economy is and how bad it will become, Wayne swan , the so called expert , and money man of the country at the time was telling you all how good it is, how strong it is, how resilient it is and that he promised to have a surplus by 2012 when I told you all what a load of shit he is dribbling. And this is the type of bullshit I had to contend with. I would tell you what will happen and some bulls post up some bs about what Wayne swan has said, how strong and resilient it is and whatever other bullshit they dribble.
He either lied to you all or was completely wrong, you can decide for yourselves. And this is the exact type of bullshit I have had to contend with over the years, absolute and complete bullshit by vested interest speaking shit.
And when its me against some so called expert who is running the countries finances, the bulls think that this is credible over what I say. But as we all can see, its not .
Now as for canberra prices, those falls seem rather mild in the 1990s . I dont know if there is any more bearish falls that were reported for this period, but I suggest if there is, you would be better to run of those, so if the declines over run these mild figures you have something to fall back on. Me personally, if I was gauging it, I would be more inclined to run off the most bearish figures for declines back then. Problem is too, if the vested interests back then were understating the declines, so the bearish ones might be better, if there is any , what do you think ?
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