Yes! There is a lot of bull attention on Perth. I wonder why?
Black Panther
8 Aug 2013, 08:10 PM
Thank you Strindberg.
Fortunately I reconsidered my position as a rusted on Bear several years ago after following the advice that Shadow, Frank and yourself so generously gave to this forum and others about Real Estate.
Now I see the light, and look forward at profiting with Real Estate Investment.
And I agree about Newjez re " slimy wriggling is endless". Plus this Man has an odd perversion about seeing me in a Man Bikini.
Not many bulls would look good in a mankini bp. Stringberg certainly wouldn't.
The arch east coast bulls ( Shadow and Strindberg) have not being wanking all over the Perth threads for good reason. They know its fools gold.
They only drop by now and then to give Mike and Skamy some moral support.
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
The arch east coast bulls ( Shadow and Strindberg) have not being wanking all over the Perth threads for good reason. They know its fools gold.
They only drop by now and then to give Mike and Skamy some moral support.
Ha ha you could not go for 9 minutes without mentioning my name. You attention seeker you.
I am not the one who has missed out on an 11% annual growth ,wasted a years rent and now has lost $4K worth of FHB grant. no wonder you are a little tetchy this week.
Definition of a doom and gloomer from 1993 The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
As I said months ago, unemployment will be volatile as we transition away from investment.
The question you need to ask yourself is this. Unemployment increased by 1.2% over the previous year prior to falling in the last few months. During that same year when unemployment increased and mining investment fell of a cliff as you call it, why then have house prices increased by 11% during the same period when so many jobs had been lost. If you can answer that correctly you will know what will happen in the coming 12 months. I will give you a hint, it wont be price declines.
The ABS gave us enough support with 11% growth, then the RBA kicked with another rate cut.
Give us your prediction, what happens from here for Perth property. You know my answer for the next few years.
Ive given it before.
Economic fundamentals are now in an almighty arm wrestle with low interest rates.
I am very bearish on the WA economy which will be a major drag on demand, but maybe even if unemployment tops 7 or 8 per cent, zirp or close to it will be enough to shore up investor demand which is keeping the plate spinning.
Or maybe sentiment will sour and investors will rush for the door. Its hard to say.
But, I'm happy to sit it out and watch on in disgust.
At this stage, I almost have a political objection to buying into the state sponsored madness.
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
As I said months ago, unemployment will be volatile as we transition away from investment.
The question you need to ask yourself is this. Unemployment increased by 1.2% over the previous year prior to falling in the last few months. During that same year when unemployment increased and mining investment fell of a cliff as you call it, why then have house prices increased by 11% during the same period when so many jobs had been lost. If you can answer that correctly you will know what will happen in the coming 12 months. I will give you a hint, it wont be price declines.
Not all economic indicators are aligned in terms of time and R/E has very low liquidity so that expands the time line.
Lets give is 6 months and see what happens.
Further, I didn't hear one single presenter at the forums in Kalgoorie this week that said they were expanding their labour force here in Australia.
I'm not a rocket scientist but when I went to school if one didn't have enough money to buy a bread roll ...one went hungry...
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