Why do bulls have a natural preference to downplay the costs?
Bears know what their cash in deposit accounts will return, we are use to your derision upon that score, so why do you pretend a mortgage costs the same?
This is getting interesting!
I see. You are now claiming that you were referring to mortgage rates when you wrote:
Quote:
Average interest rates in Australia have run at about 8.5% over a century, yet since 1992 have averaged 6%.
Easy to check the data since 1992. It's all in RBA table F5 column K. Standard variable rate housing loans (all figures for the month of June)
Ahhh hem.....this would be a site that discusses house price etc?
Not one primarily interested in stocks, shares and deposits?
The data I posted are not stock, share or deposit rates.
The interest rates I listed are HOUSING LOAN STANDARD VARIABLE RATE MORTGAGE INTEREST RATES from RBA statistical table F5.
The data proves you made it up when you claimed that the average interest rates (which you now say you meant mortgages) since 1992 to the present was 6%. It was not.
Here's your chance to redeem yourself. If you didn't make it up when you claimed it was 6%, where did you get it from? Also where did you get the average mortgage rate from that you claim of 8% for the last century? Unless you provide a source, a reasonable person can be confident that you made it all up.
The data I posted are not stock, share or deposit rates.
The interest rates I listed are HOUSING LOAN STANDARD VARIABLE RATE MORTGAGE INTEREST RATES from RBA statistical table F5.
The data proves you made it up when you claimed that the average interest rates (which you now say you meant mortgages) since 1992 to the present was 6%. It was not.
Here's your chance to redeem yourself. If you didn't make it up when you claimed it was 6%, where did you get it from? Also where did you get the average mortgage rate from that you claim of 8% for the last century? Unless you provide a source, a reasonable person can be confident that you made it all up.
With your endless vendetta's and petty nitpicking I would be very surprised if you knew any reasonable people. You certainly cannot count yourself amongst them.
With your endless vendetta's and petty nitpicking I would be very surprised if you knew any reasonable people. You certainly cannot count yourself amongst them.
what is nit picking about that? golly made a claim that strindy has produced data for to prove him wrong. he was civil about it unlike most of the bears. I realize this might be a crime punishable by stoning in bear circles.
I am the love child of Tony Abbott and Pauline Hanson
Steve Keen: It’ll take about one or two decades. If you look at the level of debt that caused the Great Depression, then it began at about 175 per cent of GDP, where the vast majority of that was owed by businesses. The business sector debt was about a 125 per cent of GDP I think when the crisis began. The rest was household and a trivial amount of debt, believe it or not, was actually owed by the non-bank financial sector, the shadow banking sector as we call it now. But the aggregate level was a 175 per cent of GDP in America. This time it peaked at 300 per cent, so we are that much more in debt.
No one has picked up on this quote, and I think that it's the most depressing thing that he says in the interview. But he's not the only one to have made that point.
Mervyn King, the governor of the Bank of England commented recently that he thinks we're somewhere in the middle of the financial crisis, and it's got at least as long to run as it has already. He also said that he's felt the same way for the last couple of years.
If the global economy is basically shot until the 2020s then that's going to be a negative for property anywhere. Static or falling incomes and a shortage of credit aren't generally supportive of high prices.
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