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Perth property sets new all time high.; Bears smashed, again.
Topic Started: 10 Jun 2013, 06:43 PM (52,433 Views)
Veritas
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Pig Iron
4 Aug 2013, 12:55 PM
when perth hits double digit yoy growth, you watch the bears start throwing tantrums.
And yet, you are not buying Timmy?

Your actions do not match your vitriol.
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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Bogan scum

Veritas
4 Aug 2013, 07:05 PM
And yet, you are not buying Timmy?

Your actions do not match your vitriol.
i've already bought, i'm an owner of a house already.

I guess i understand your need to deflect, prices being up 9.37%...
Edited by Pig Iron, 4 Aug 2013, 07:10 PM.
I am the love child of Tony Abbott and Pauline Hanson
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Veritas
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Pig Iron
4 Aug 2013, 07:10 PM
i've already bought, i'm an owner of a house already.

I guess i understand your need to deflect, prices being up 9.37%...
I'm not deflecting Timmy.

I called this bull run months ago, ask Mike, he'll tell ya.

Its not rocket science: cheap money plus robust fundamentals equals take off.

I just think it will run out of puff, probably already actually. REIWA seem to think so.

Depending how the macro develops ( and I, like the Federal Government, am expecting a deterioration) those who bought during this bull run could find themselves in negative equity before you can say "3x2 with river views"

We all accept the stellar multiplier effect of the mining boom on the way up.

Bizarrely, there are some that don't think it will be a negative multiplier on the way down.

What does your gut tell you Timmy? I listen to mine.

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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newjez
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Pig Iron
3 Aug 2013, 11:41 PM
so you accept that prices probably won't show a fall from the ABS numbers, but still want to claim there's been a drop anyway?

look i'm going to just wish you well now for when you disappear forever ok?
Increasing at a decreasing rate.
Veritas
4 Aug 2013, 07:22 PM
I'm not deflecting Timmy.

I called this bull run months ago, ask Mike, he'll tell ya.

Its not rocket science: cheap money plus robust fundamentals equals take off.

I just think it will run out of puff, probably already actually. REIWA seem to think so.

Depending how the macro develops ( and I, like the Federal Government, am expecting a deterioration) those who bought during this bull run could find themselves in negative equity before you can say "3x2 with river views"

We all accept the stellar multiplier effect of the mining boom on the way up.

Bizarrely, there are some that don't think it will be a negative multiplier on the way down.

What does your gut tell you Timmy? I listen to mine.
I think Timmy has valid reasons for not moving, and I sympathize if I have read your hints correctly. But I still can't understand why you are so happy about prices rising Timmy?
Edited by newjez, 4 Aug 2013, 07:58 PM.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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goldbug
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Pig Iron
4 Aug 2013, 07:10 PM
i've already bought, i'm an owner of a house already.
Never confuse OWNING a house with paying off a house under mortgage. You only own it when you have paid for it fully and can ensure the rates (land rental) is covered into the forseeable future.
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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Perthite
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Pig Iron
4 Aug 2013, 06:49 PM
this is your whole problem - by the time you notice that happening it's too late.

you've willfully ignored what the index's are doing and you've missed the boat. the best you can hope for now is that rents don't go insane and hope to catch the next down turn. no doubt you'll do that same thing in the next downturn though...
OHH ffs from the guy who has not realised the mining boom ended...

You ARE a tool.

You should be happy the western suburbs are taking a hit.
Edited by Perthite, 4 Aug 2013, 08:08 PM.
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mel
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goldbug
4 Aug 2013, 07:59 PM
Never confuse OWNING a house with paying off a house under mortgage. You only own it when you have paid for it fully and can ensure the rates (land rental) is covered into the forseeable future.
Goldbug I would be genuinely interested to know where you think would be good value in Australia. I've mentioned i believe ballarat in vic is undervalued when compared to other urban type options but what do you think represents good bang for buck in your state?
APF - a place where serious people don't take themselves too seriously. There's nothing else like it.
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Pig Iron
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Bogan scum

newjez
4 Aug 2013, 07:53 PM
I think Timmy has valid reasons for not moving, and I sympathize if I have read your hints correctly. But I still can't understand why you are so happy about prices rising Timmy?
the house i'm in now has been rising as well.
goldbug
4 Aug 2013, 07:59 PM
Never confuse OWNING a house with paying off a house under mortgage. You only own it when you have paid for it fully and can ensure the rates (land rental) is covered into the forseeable future.
wrong. the title is in my name, i own it. the bank only has an interest in it.

honestly your lack of knowledge is pretty bloody embarrassing at times.
Veritas
4 Aug 2013, 07:22 PM
Depending how the macro develops ( and I, like the Federal Government, am expecting a deterioration) those who bought during this bull run could find themselves in negative equity before you can say "3x2 with river views"
this is always a risk. should people hold off doing things throughout their life because there -might- be a better opportunity later? i think that's a foolish way to live...
Edited by Pig Iron, 4 Aug 2013, 10:10 PM.
I am the love child of Tony Abbott and Pauline Hanson
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doubleview
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Veritas
4 Aug 2013, 07:05 PM
And yet, you are not buying Timmy?

Your actions do not match your vitriol.
Timmys all talk no action.

Imagine living your life like that.

A self appointed gate keeper who isnt even in the game.

yes what a wanker Timmy/piggy is!!!

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Mike
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Pig Iron
4 Aug 2013, 07:10 PM
i've already bought, i'm an owner of a house already.

I guess i understand your need to deflect, prices being up 9.37%...
That is 9.37% in the last 12 months. Total growth is now over 13% and climbing.


newjez
4 Aug 2013, 07:53 PM
Increasing at a decreasing rate.

Really, most indices show prices increasing at faster rates now then last year.

Prices in the March quarter up 4.3%, June Quarter up 4.4% and so far in the September quarter which is not even half way through we are up 3.87%.

So in % prices are rising faster, convert that % into dollars and its even greater as it compounds.

The market is not slowing down at present.
Edited by Mike, 4 Aug 2013, 11:47 PM.
http://mike-globaleconomy.blogspot.com.au/
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