The dollar should be falling to enable other areas of the economy to recover. But it's not, even with the crisis continuing in Europe.
This is a very strange turn of events.
You are right. It's weird.
There has been a fair bit of conjecture about it in US forex blogs as well. There are a hell of a lot of shorts who are getting shredded as we speak.
The most plausible explanation (and I am wary of explanations) is that the AUD is the last currency left with both safety and yield (but we knew that last week!) and that the Bundesbank is tooling up to add the AUD to its list of reserve currencies in September.
Iron ore spot price is down to $125. Not long before if falls under $100.
But more interestingly - the Aussie dollar is showing strength.
The dollar should be falling to enable other areas of the economy to recover. But it's not, even with the crisis continuing in Europe.
This is a very strange turn of events.
Some clowns were told only a few weeks back that iron ore prices would be lucky to be at $125 by years ends . But look only half way though the year and we are there already . With the us , europe and uk at RECORD low interests rates for some time this guarantee of further contraction will slow chinas demand for our commodities. With the dollar hitting 104.22 when I looked earlier this morning this is another guarantee prices will drop further as china now seems to be oversupplied caused by buisiness building up as their economy grew rapidly at the 15% we saw recently but now growth is half of what is was last year and these buisinesses are now suffering . I expect that in the next six to twelve months iron ore prices will sit firmly between $80 -$100 per tonne. That is a 100% certainty boys and girls. That is not a prediction it is commonsense . But it seems that common sense is not that common these days. There are girls , you have it on paper, any fools wish to doubt me , so we can have that on paper too.
So do you think if a Property Investor had property in Yokine for example, they would be upset with the 5.2% increase in value, and say that property Investor also had property in Osbourne Park they wouldn't notice the increase in value of 3.8% ?
In addition to that, he was able to raise rents 25% in the last year !
The delusions are all at your end.
The market bottomed last year, you didn't notice because you all have your heads up your collective arses.
No doubt you need some sophistication and savvy to do well in Real Estate under current conditions, and those with ability are.
But its getting easier as each month passes and the up cycle gathers pace.
But you don't own houses in any place that is going up in value .... MR UNDERWATER
The market bottomed last year, you didn't notice because you all have your heads up your collective arses.
No doubt you need some sophistication and savvy to do well in Real Estate under current conditions, and those with ability are.
But its getting easier as each month passes and the up cycle gathers pace.
Quote:
Perth house prices at three-year low after ‘surprise’ 4.26% fall in June quarter: Residex
BP, you really do make me laugh. You are certainly one of the craziest, least in touch with reality people on this forum. Have you ever thought about becomng a comedian?
I live in Perth and I have been following house prices in the areas I would like to buy in some day, Mostly coastal suburbs north of the river. Many of the houses I have been looking at started at over 800k and many have recently either entered the 600k bracket or have simply changed to "Negotiable" instead of having a price up.
The place I am renting now sold in 2010 for 450k and is now up for sale for under 400k.
Like I said, this is just coastal cities north of the river so it may be different elsewhere
There has been a fair bit of conjecture about it in US forex blogs as well. There are a hell of a lot of shorts who are getting shredded as we speak.
The most plausible explanation (and I am wary of explanations) is that the AUD is the last currency left with both safety and yield (but we knew that last week!) and that the Bundesbank is tooling up to add the AUD to its list of reserve currencies in September.
During the GFC (and I mean the actual crisis bit) the relationship between interest rates and currency broke down for a shortish time.
I imagine we are looking at a similar situation here, with there being not many safe areas to place your money.
I don't think this bodes well for the Australian economy. The Swiss took measures to stop it happening there. I wonder if the Aust govt will do the same here, or whether they will ride it. I'm tempted to think they will ride it, but I wonder what damage it will do long term.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
So do you think if a Property Investor had property in Yokine for example, they would be upset with the 5.2% increase in value, and say that property Investor also had property in Osbourne Park they wouldn't notice the increase in value of 3.8% ?
In addition to that, he was able to raise rents 25% in the last year !
The delusions are all at your end.
The market bottomed last year, you didn't notice because you all have your heads up your collective arses.
No doubt you need some sophistication and savvy to do well in Real Estate under current conditions, and those with ability are.
But its getting easier as each month passes and the up cycle gathers pace.
I think you'd be hard pressed to find a house in Osbourne Park BP. There are some, but it's a crap suburb to commute from - I can't think why a renter would want to live there.
I have actually owned investment properties in Yokine, and it does have some pluses. There is a strong Jewish community, with the Jewish school at the bottom of Creswell Hill, and being next to Coolbinia and Menora. So there is a steady flow of South African Jewish immigrants to keep the prices up. Plus there is a good rental market while they wait for the diamonds to pass through. It has a nice golf course, good schools, good bus routes to the city, and is generally a very pleasant place to live. It also has large blocks and is prime for rejuvination (is that a word?) in a few years time. I wouldn't call it a hot spot of property - for that I'd buy near the city or by the beach, I'd probably define it as defensive. If it were a share - it would be a utility. Price stable during a downturn, and pays good dividends.
Now saying that, and knowing what I know from your postings - I would have thought it would be highly unlikely that you would have bought in Yokine. You're a high flyer BP. You look for max rent and max capital gain. At a guess I'd say you own largely in East Perth, possibly coastal, more recently the middle swan area and I'd say you are getting hammered.
I think you'd be hard pressed to find a house in Osbourne Park BP. There are some, but it's a crap suburb to commute from - I can't think why a renter would want to live there.
I have actually owned investment properties in Yokine, and it does have some pluses. There is a strong Jewish community, with the Jewish school at the bottom of Creswell Hill, and being next to Coolbinia and Menora. So there is a steady flow of South African Jewish immigrants to keep the prices up. Plus there is a good rental market while they wait for the diamonds to pass through. It has a nice golf course, good schools, good bus routes to the city, and is generally a very pleasant place to live. It also has large blocks and is prime for rejuvination (is that a word?) in a few years time. I wouldn't call it a hot spot of property - for that I'd buy near the city or by the beach, I'd probably define it as defensive. If it were a share - it would be a utility. Price stable during a downturn, and pays good dividends.
Now saying that, and knowing what I know from your postings - I would have thought it would be highly unlikely that you would have bought in Yokine. You're a high flyer BP. You look for max rent and max capital gain. At a guess I'd say you own largely in East Perth, possibly coastal, more recently the middle swan area and I'd say you are getting hammered.
Highest defaults on loans ever, those guys have no clue. BP and Mike (have you looked at this guys blog lol, 4 blogs and its literally just a collage of news articles from bull writers with their intro/closing paragraphs word for word. Mindless spam with 3 friends lol who have no avatars and a grasp on the English language of a 16 year old), just have no idea whats going on. I'm sure they are here from rewia or fairfax just paid to spam garbage about how the markets up.
I've given my email to a few people now and talked to one person on the phone from these forums. Those two guys just hide behind a wall of 'time to troll these forums and make everyone talk to me, I have no friends and I'm angry at how far others have gone' is whats driving them. Wish Alex would accidentally let slip the accounts used on the same computer and then say 'oh sorry about that' or at least let us rate people or ignore peoples posts. They used to be entertaining but if I want to hear what they are trying to push I would just go to a 40's+ high school reunion and listen to everyone talk about how property has made them rich. Jokes on them because they are they only ones buy from each other at those prices.
I doubt either one of them has ever opened a spreadsheet and knows that =sum() or even how to calculate what a loss is or that housing is not a home but an investment. They just got stuck on the gravy train and have the income to support the houses they have acquired over the good times. That or do they even have any property...
All they had to do was say 'hey guys, truth is I don't know where to start help me make money in property' and we would have helped them. If this was the WP forums they would be instant ip ban for distributing such terrible advice. I'm sure about 10 other accounts of his would be banned too lol.
PS has anyone noticed
Herald sun - about 2/3 weeks no real updates from what was usually a 'every day new article saying how you need to buy a property now due to increasing population or some stupid key figure' Telegraph - about a week with nothing but the last one was 'you need to buy in these great new expanding suburbs' Perth now - deleted last article on property about how now is a 'great' time to buy in fools-golden bay WA and has stopped people posting comments in property section under any article Adelaide now - functions properly and real estate section is letting people comment
I swear even last year there would be 2-3 articles a week and comments would get into the 3-4 hundreds. Now - splat.
Australian Property Forum is an economics and finance forum dedicated to discussion of Australian and global real estate markets and macroeconomics, including house prices, housing affordability, and the likelihood of a property crash. Is there an Australian housing bubble? Will house prices crash, boom or stagnate? Is the Australian property market a pyramid scheme or Ponzi scheme? Can house prices really rise forever? These are the questions we address on Australian Property Forum, the premier real estate site for property bears, bulls, investors, and speculators. Members may also discuss matters related to finance, modern monetary theory (MMT), debt deflation, cryptocurrencies like Bitcoin Ethereum and Ripple, property investing, landlords, tenants, debt consolidation, reverse home equity loans, the housing shortage, negative gearing, capital gains tax, land tax and macro prudential regulation.
Forum Rules:
The main forum may be used to discuss property, politics, economics and finance, precious metals, crypto currency, debt management, generational divides, climate change, sustainability, alternative energy, environmental topics, human rights or social justice issues, and other topics on a case by case basis. Topics unsuitable for the main forum may be discussed in the lounge. You agree you won't use this forum to post material that is illegal, private, defamatory, pornographic, excessively abusive or profane, threatening, or invasive of another forum member's privacy. Don't post NSFW content. Racist or ethnic slurs and homophobic comments aren't tolerated. Accusing forum members of serious crimes is not permitted. Accusations, attacks, abuse or threats, litigious or otherwise, directed against the forum or forum administrators aren't tolerated and will result in immediate suspension of your account for a number of days depending on the severity of the attack. No spamming or advertising in the main forum. Spamming includes repeating the same message over and over again within a short period of time. Don't post ALL CAPS thread titles. The Advertising and Promotion Subforum may be used to promote your Australian property related business or service. Active members of the forum who contribute regularly to main forum discussions may also include a link to their product or service in their signature block. Members are limited to one actively posting account each. A secondary account may be used solely for the purpose of maintaining a blog as long as that account no longer posts in threads. Any member who believes another member has violated these rules may report the offending post using the report button.
Australian Property Forum complies with ASIC Regulatory Guide 162 regarding Internet Discussion Sites. Australian Property Forum is not a provider of financial advice. Australian Property Forum does not in any way endorse the views and opinions of its members, nor does it vouch for for the accuracy or authenticity of their posts. It is not permitted for any Australian Property Forum member to post in the role of a licensed financial advisor or to post as the representative of a financial advisor. It is not permitted for Australian Property Forum members to ask for or offer specific buy, sell or hold recommendations on particular stocks, as a response to a request of this nature may be considered the provision of financial advice.
Views expressed on this forum are not representative of the forum owners. The forum owners are not liable or responsible for comments posted. Information posted does not constitute financial or legal advice. The forum owners accept no liability for information posted, nor for consequences of actions taken on the basis of that information. By visiting or using this forum, members and guests agree to be bound by the Zetaboards Terms of Use.
This site may contain copyright material (i.e. attributed snippets from online news reports), the use of which has not always been specifically authorized by the copyright owner. Such content is posted to advance understanding of environmental, political, human rights, economic, democratic, scientific, and social justice issues. This constitutes 'fair use' of such copyright material as provided for in section 107 of US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed for research and educational purposes only. If you wish to use this material for purposes that go beyond 'fair use', you must obtain permission from the copyright owner. Such material is credited to the true owner or licensee. We will remove from the forum any such material upon the request of the owners of the copyright of said material, as we claim no credit for such material.
Privacy Policy: Australian Property Forum uses third party advertising companies to serve ads when you visit our site. These third party advertising companies may collect and use information about your visits to Australian Property Forum as well as other web sites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here: Google Advertising Privacy FAQ
Australian Property Forum is hosted by Zetaboards. Please refer also to the Zetaboards Privacy Policy