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Perth property sets new all time high.; Bears smashed, again.
Topic Started: 10 Jun 2013, 06:43 PM (52,416 Views)
Pig Iron
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Bogan scum

Perthite
15 Aug 2013, 10:30 PM
Yes, again you miss the start of a trend.

You agree wage growth is falling in all states?

You agree wage growth is falling in all both public and private sectors?

You agree wage growth is falling in all industries?

does this mean anything?
Perhaps I should drink more often.
i miss the start of a trend??? i think you need to look again and rethink who's missed what.

http://www.rpdata.com/research/back_series.html
I am the love child of Tony Abbott and Pauline Hanson
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Perthite
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I will take that as a 'Yes'.
Edited by Perthite, 15 Aug 2013, 11:39 PM.
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goldbug
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Pig Iron
15 Aug 2013, 11:19 PM
i miss the start of a trend??? i think you need to look again and rethink who's missed what.
Sorry pigiron. It's all downhill.

Slowdown ahead for Perth property
Perth’s strong house prices are weakening, and in July the median price fell.
PUBLISHED: 10 Aug 2013
http://www.afr.com/p/national/slowdown_ahead_for_perth_property_nJysLNn72RTdHR0k485PIP



Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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newjez
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Trojan
15 Aug 2013, 08:55 PM
Lol.

You mean you think
"wage growth fell" = "wages fell"

So because wages only grew at 3% this year (instead of 4% least year) therefore you conclude wages fell?!?!?


I apologise for you stupidity.
:lol :lol :lol
Even in the austerity nations I doubt actual wages have fallen by much. The fact that the rate of increase has slowed is significant.
Edited by newjez, 16 Aug 2013, 04:27 AM.
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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When wages do not rise as much as the inflation effects occuring in the place you live, wages are falling. The odd time you see wages actually fall in dollar value is usually in the context of a deflationary environment. For example, when property prices deflated over the past few years tradesmen in that industry saw their wages fall as well.

When a ship is sinking it is pointless to debate the rate at which the water is coming in or how far away a rescue ship might be. When a ship is sinking your time is better spent looking for a life raft to jump on. Unfortunately most property bulls are still debating the rate at which the Australian economy is sinking and the proximity of the Chinese rescue ship. Instead of selling up their properties to greater fools and getting onto a life raft.
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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Mike
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http://www.treasury.wa.gov.au/cms/uploadedFiles/_Treasury/Economic_Data/fhog_data.xls?

First home buyer demand continues along at close to record highs in July. The July 2013 figure is over 100% higher then the July 2010 figure and close to double the 2011 figures. The demand is so high the only time after 2002 when demand has been higher is during the Rudd stimulus in 2009. If you exclude the once of factors of GFC stimulus first home buyer demand is at its strongest levels in 11 years.
http://mike-globaleconomy.blogspot.com.au/
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Pig Iron
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Bogan scum

goldbug
16 Aug 2013, 09:57 AM
When wages do not rise as much as the inflation effects occuring in the place you live, wages are falling. The odd time you see wages actually fall in dollar value is usually in the context of a deflationary environment. For example, when property prices deflated over the past few years tradesmen in that industry saw their wages fall as well.

When a ship is sinking it is pointless to debate the rate at which the water is coming in or how far away a rescue ship might be. When a ship is sinking your time is better spent looking for a life raft to jump on. Unfortunately most property bulls are still debating the rate at which the Australian economy is sinking and the proximity of the Chinese rescue ship. Instead of selling up their properties to greater fools and getting onto a life raft.
property is up over 5% yoy. you just look like a gigantic fool posting this kind of dribble.
I am the love child of Tony Abbott and Pauline Hanson
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goldbug
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5%. My electricity and food bill is up over 5% yoy. So the value of Perth property kept pace with inflation for a change, big deal. it's over pigiron, the dream was just that, a dream in the minds of a nation that thought it could live outside the financial realities of the world as a whole.
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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Veritas
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Pig Iron
16 Aug 2013, 11:19 AM
goldbug
16 Aug 2013, 09:57 AM
When wages do not rise as much as the inflation effects occuring in the place you live, wages are falling. The odd time you see wages actually fall in dollar value is usually in the context of a deflationary environment. For example, when property prices deflated over the past few years tradesmen in that industry saw their wages fall as well.

When a ship is sinking it is pointless to debate the rate at which the water is coming in or how far away a rescue ship might be. When a ship is sinking your time is better spent looking for a life raft to jump on. Unfortunately most property bulls are still debating the rate at which the Australian economy is sinking and the proximity of the Chinese rescue ship. Instead of selling up their properties to greater fools and getting onto a life raft.
property is up over 5% yoy. you just look like a gigantic fool posting this kind of dribble.
So timmy are you with Mike?

20-25% increase during the next three years?

Mike's talking it up, but he knows well the headwinds are getting stronger by the day.
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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Strindberg
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Veritas
16 Aug 2013, 06:01 PM
So timmy are you with Mike?

20-25% increase during the next three years?

Mike's talking it up, but he knows well the headwinds are getting stronger by the day.
You're a lying shit. Mike didn't write that. You made it up.

Here is what Mike wrote:
Quote:
 
Do I think prices will go crazy like 2004-6 when prices doubled, no. I have said many times I think the market will top out at 15-25% growth, I now think 25% is very achievable with in 2 years time as we have already had 12.7% with 11% of that in the last 12 months.


That means 2.3%-12.3% over the next 2 years. Not 20-25% over the next 3 years.

A further 2.3% rise over the next 2 years and Mike will be proved correct.
Edited by Strindberg, 16 Aug 2013, 06:27 PM.
Housing costs to Income broadly unchanged since 1994 - re-ratified here
The People of Australia have the highest median wealth in the World
2002-2012 10 year house price growth the SLOWEST since 1952-1962
"There are two kinds of people in this world: ones that fiddle around wondering whether a thing's right or wrong and guys like us." (Hugo to Gagin in Ride the Pink Horse)
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