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Australia's one trick pony is heading out to pasture; Mining boom over, what's the next money maker? Troubling for Australia, there's nothing.
Topic Started: 16 Dec 2012, 11:17 PM (10,369 Views)
Pig Iron
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Bogan scum

earthsta
18 Dec 2012, 02:41 PM
And yet .... house prices keep falling
not in perth home slice.
I am the love child of Tony Abbott and Pauline Hanson
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earthsta
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timmy
18 Dec 2012, 02:27 PM
Iron ore hit $130/t today.

http://www.hellenicshippingnews.com/News.aspx?ElementId=b36a7bad-d6e8-4111-acee-13ef832b6f62


No wonder the bears a wigging out right now.
Is there a direct correlation between IO prices and house prices? NO! :lol

Talk about grasping at straws :bye:
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Pig Iron
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earthsta
18 Dec 2012, 02:47 PM
Is there a direct correlation between IO prices and house prices? NO! :lol

Talk about grasping at straws :bye:
no there is atleast a few months worth of delay in the reaction.

so the current surging perth prices are only the result of much lower iron ore prices, probably in the $100 range. so think of how they are going to boom when the current high prices make it through the pipeline.

thanks for pointing that out!
I am the love child of Tony Abbott and Pauline Hanson
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Ex BP Golly
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Timo
18 Dec 2012, 01:46 PM


Education? , Australia is already getting a reputation for being a degree factory, overseas students pay the up front bills and walk out with a degree. We don't even have enough spots for our own kids to undertake university studies. Again, Australia is short sighted, the brain drain will continue.

Either way, both these industries will never be able to provide Australia with anything like the revenue we had recieved from mining.

I was just speaking with a young person who has been accepted into RMIT among others, and is in Sydney for interviews.

I asked what they thought about Sydney Unis.

Having only been to one (and it wasnt western syd or macq), said was rather suprised with the test they had to sit.

An English test where you had to fill in the missing word!

"whats that about?" my young friend asked .

LMFAO !

What have we done in the name of the dollar?
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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Timo
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timmy
18 Dec 2012, 02:17 PM
I would engage in intelligent debate with you if it was possible timo.

but you aren't prepared to listen to anything that contradicts your world view, and you based none of your statements on facts or give any figures to back it up.

what i'm trying to say is, your a waste of time.
That is ironic coming from the one eyed princess of the forum post.

You should spend less time on this forum and more time working a second or third job....negative equity, only getting worse.
After a bubble has burst, no one denies that it existed. But before it does, the popular refrain is that though bubbles existed elsewhere in the world, “there’s no bubble here”. So housing bubbles are admitted to have existed in Japan, the USA, Spain and Ireland – because they’ve already burst.
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Veritas
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timmy
18 Dec 2012, 02:43 PM
earthsta
18 Dec 2012, 02:41 PM
And yet .... house prices keep falling
not in perth home slice.
And as mentioned here before by me and Mike is the fact that the current low interest rate environment spells big trouble for Perth Property.

Fuel on a fire.

I think its emminently possible that perth property prices increase next year as the rest of the country remains sluggish only to have the stuffing knocked out of it as a result of a mining slowdown shortly thereafter.

When an economy has unsuitably low interest rates buying property is very risky. History has proven that.
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
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Pig Iron
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Timo
18 Dec 2012, 04:01 PM
That is ironic coming from the one eyed princess of the forum post.

You should spend less time on this forum and more time working a second or third job....negative equity, only getting worse.
why would i need to work another job, i'm already paid a fortune.

negative equity? look at where the purple line is going you failure.

http://www.rpdata.com/research/back_series.html

I am the love child of Tony Abbott and Pauline Hanson
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Trojan
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Veritas
18 Dec 2012, 04:09 PM
When an economy has unsuitably low interest rates buying property is very risky.
Agreed. The only question is whether it is unsuitably low now.
I personally believe it is currently unsuitably high and thus the RBA will lower rates further next year.
Edited by Trojan, 18 Dec 2012, 05:43 PM.
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
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Veritas
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Trojan
18 Dec 2012, 05:43 PM
Veritas
18 Dec 2012, 04:09 PM
When an economy has unsuitably low interest rates buying property is very risky.
Agreed. The only question is whether it is unsuitably low now.
I personally believe it is currently unsuitably high and thus the RBA will lower rates further next year.
Well it depends what part of the country. The inherent problem of the one size fits all cash rate.

Arguably, WA with its economic growth rate is already running the risk of blowing bubbles at the current cash rate.
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
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stinkbug
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Trojan
18 Dec 2012, 05:43 PM

I personally believe it is currently unsuitably high and thus the RBA will lower rates further next year.
I agree. The purpose of changing the interest rate is to improve the profitability of business iinvestment to stimulate the economy.
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While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

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