Back in 2007, I spoke of a $1M Sydney house price by 2015. The bears at the time thought that was harebrained too.
So youre sticking by your 1million dollar Perth median prediction?
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
So if the bulls run and hide after a beating, you jump in to keep the fight going (and the hit count up).
Not a bad business model. Just accept that the majority of us on here understand that this is an ad funded forum and we are the free entertainment.
There are other places we could hang out.
Yes shadow is a paid lacky no doubt about it. Facts are irrelevant to him, it's all spin spin spin. Everything he takes a line against from AGW to gold to property to the health of the economy is straight out of the corporate media handbook It's a chore wading through his lengthy posts at times. Hence at times I don't even bother.
"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." John Stuart Mill
"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." John Stuart Mill
Timo eventually decided to buy the 2 BR apartment Prof Keen sold in 2008 - As a resale for 40% more than the Prof sold it for back then.
He has Moops sharing the main bedroom; As one boarder - With Kris Sayce and David Collyer being out the back boarding in the second bedroom.
David's quite comfortable with the arrangement; Though he has to bite his tongue occasionally to avoid the temptation of telling Timo that in a better world he'd be paying lots of land tax on the joint. (With David having come to suspect that if that were to transpire, rotten bloody uncaring traitorous Timo just might be tempted to put his board up.)
But Kris sleeps with one eye open every night in fear that David (or Moops; or Timo; himself even?!? ) just might pinch his tissue box full of bullion; And in truth Kris never actually sleeps at all really - Because he's worried that if he did nod off he just might mumble in his sleep and accidentally reveal one of his invaluable share market tips - And if he were to give them away for free he'd have no income with which to pay Timo board.
Chris and his missus have recently applied to be allowed to roll out their swags as boarders on Timo's bathroom floor between 11:30 PM and 4:30 AM when neither Timo nor any of his other boarders are real likely to be needing it.
Timo's keen - Because as Moops and Kris and David keep telling him, Great Depression II is just around the corner and when it happens, as it surely will, he surely will need Chris and his missus as nocturnal bathroom boarders - To help keep making the payments on his $700K mortgage ...
A Professional Demographer to an amateur demographer:"negative natural increase will never outweigh the positive net migration"
I think what Veritas means shadow is that the perth bulls, who have more balls that you sydney bulls, will still be here after you have gassed yourself in the garage over sydney's falls.
Hah! Writes the sock of a sock of another earlier poster too embarrassed to still post under those handles!
For Aussie property bears, "denial", is not just a long river in North Africa.....
Considering the dollar was 50% higher not long ago, you now need 50% rise just to say even.
The dollar going from around $1.10 to 70 cents now.
What's that got to do with the price of fish? (At least those fished in Australia)??? Or even with what I wrote about the outright hypocrisy of "The Whole Bullshit"???
For Aussie property bears, "denial", is not just a long river in North Africa.....
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