It's a bit of a shame they have disabled the comments.. they were a fun and often informative read. I believe Peters comments on that site gave the site more credibility if anything.
Kudos to Kris for following through with his perspective on the housing market for years on end.
For a long time i thought his views were a cheap shot at obtaining subscriptions, although its become apparent he does believe his view to actually be true.
No one knows what policies may or may not be put in place with regards to housing and how the market might react..
If Australian house prices are declining why then is Perth Medium house price up from the low of September 2011 to be 6.5% higher as we speak? This is prior to the recent inerest rate cut, what will this further cut do to an already growing market.
As for Melbourne my 2 investments increased in value by 25% over 2010 in 6 months. They have more then doubled in value since I bought them in 2005. I dont think a 6% or 8% decline is going to worry me.
If Australian house prices are declining why then is Perth Medium house price up from the low of September 2011 to be 6.5% higher as we speak? This is prior to the recent inerest rate cut, what will this further cut do to an already growing market.
As for Melbourne my 2 investments increased in value by 25% over 2010 in 6 months. They have more then doubled in value since I bought them in 2005. I dont think a 6% or 8% decline is going to worry me.
You're a lucky parasite aren't you.
Unfortunately people like you will get away with your crimes. It's the people who bought on or around the peaks and have tenuous employment who will be screwed and who will cause the crash.
stinkbug omosessuale Frank Castle is a liar and a criminal. He will often deliberately take people out of context and use straw man arguments. Frank finally and unintentionally gives it up and admits he got where he is, primarily via dumb luck! See here Property will be 50-70% off by 2016.
You are just trolling now. Fact is when you wrote this: you were in fact just making shit up. According to ABS house prices are down 6.1% from the peak, not 10%.
So you want to use CPI adjusted prices now? Well go for your life, but I don't care about CPI adjusted prices. I care about nominal prices - ie the actual $$$ I get or have to pay if I sell or buy property. I suppose you think that buying a house or investing in property in the early 70s would have been a bad idea because "real" house price fell for a decade?? Do you think that by the way? I'd love to hear your answer!
Yeah. yeah - because things arent measure in Nominal terms you retarded monkey - jesus christ - really ?
sorry mate, since the GFC Keen is now one probably one of the most respected economists in the field - I cant even THINK of an academic in australia who gets as much air time as him - NOT FUCKING ONE - so put it your pipe and smoke it.
The reality is staring you in the face -
The bull run is entirely over, the market is crashing and you are CLEARLY screwed - so go get angry at an internet forum at the people who have been TRYING TO WARN idiots like you, trying to help, trying to raise the alarm - laugh my arse off buddy - you didn't listen and now you are screwed.
I can not tell you how incredibly happy it makes bears on this forum and others, to see arrogant bulls like yourself SHITTING your pants with the reality of a crash now undeniable - no matter what.
Oh - sweet, sweet, sweet justice.
The great thing about, well, just being far more intelligent that idiots like yourself, is that not only have we not the stress of our financial lives falling apart, nor the humility of being publicly humiliated, nor even the victorious feeling of being completely vindicated - no, the best thing about all of this is that I get to now invest hundreds, and hundreds of thousands of dollars at the very bottom of the market simply because I was smart enough, and not greedy enough (read not STUPID) to wait out what was clearly, obviously, to an slightly smart than a dead dingos donger, a massive bubble.
Reading morons like yourself ranting with rage at what is happening is, to be honest, nothing short of absolute vindication for the bears - THANKS
10% a year isn't really my idea of a slow burn. In 4-5 years time houses will be half! Japan took about 15 years.
The rate is speeding up - we are looking like 40% within two years - in housing terms thats a crash - stock market may go within 12 months, but housing is very inelastic.
sorry mate, since the GFC Keen is now one probably one of the most respected economists in the field - I cant even THINK of an academic in australia who gets as much air time as him - NOT FUCKING ONE - so put it your pipe and smoke it.
Hey thanks for the laugh - especially from this line!!! There were quite a few other crackers in there as well!
Hey thanks for the laugh - especially from this line!!! There were quite a few other crackers in there as well!
He's right, globally Steve Keen gets respect, all our other "economists" are just patsy whores and glorified infomercial talking heads.
Steve has done two talks for Google for instance.
stinkbug omosessuale Frank Castle is a liar and a criminal. He will often deliberately take people out of context and use straw man arguments. Frank finally and unintentionally gives it up and admits he got where he is, primarily via dumb luck! See here Property will be 50-70% off by 2016.
10% a year isn't really my idea of a slow burn. In 4-5 years time houses will be half! Japan took about 15 years.
The rate is speeding up - we are looking like 40% within two years - in housing terms thats a crash - stock market may go within 12 months, but housing is very inelastic.
audas - what is your plan "B" if you don't get your crash. What if this correction is as good as it gets?
What then?
Any expressed market opinion is my own and is not to be taken as financial advice
no, the best thing about all of this is that I get to now invest hundreds, and hundreds of thousands of dollars at the very bottom of the market simply because I was smart enough, and not greedy enough (read not STUPID) to wait out what was clearly, obviously, to an slightly smart than a dead dingos donger, a massive bubble.
You better not make any money or themoops will call you a lucky parasite...
sorry mate, since the GFC Keen is now one probably one of the most respected economists in the field - I cant even THINK of an academic in australia who gets as much air time as him - NOT FUCKING ONE - so put it your pipe and smoke it.
Steve Keen got the profile he did by predicting disaster and catastrophe, which is how most modern commercial news is framed. His predictions played right into the media's hands. Of course, they didn't give other opinions the same play because didn't want to dilute the message - shock draws in viewers, viewers boost advertising revenue.
Steve Keen has had some interesting stuff to say, but unfortunately that has been lost when the producers kep telling him to look into the camera and tell us about how we were all going to be poor.
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