I seen rpdata on the business channel a couple of weeks ago saying that Emerald and blackwater were investment hotspots.
RPData is now the bears index of choice though, earthsta himself has begun quoting it. and rightly so, as it's the most bearish index. the real rises are much higher.
I am the love child of Tony Abbott and Pauline Hanson
Your Analysis / Theories make me laugh now, I'll give you that.
they go way too deep into the what happen yesterday will happen tommorrow draw.
l
How come you have dropped all the preacher man stuff, doubleview? where are all the "god spare your wicked souls" comments that were so much fun?
You have gone all boring
Your trouble is that you are treating buying a home as a speculative activity, ie "don't buy now- prices are gonna drop", or "better sell up prices are gonna fall". Most sensible folk don't behave like that they buy when they can afford to buy and they want their own home then they sell when they need to move, upsize or downsize. If you wait until well into your 30s to buy your first home you will ALWAYS be behind the game compared to folk who bought at a younger age, no matter what the economic picture.
Speculators like you are better out of the market, you guys just cause distortions of pricing during the upturns and the downturns, with your dreams of making a buck on the back of others misfortune.
This old duck loves having a bit of fun with angry-cheap-house-dreamers like yourself.
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.
It would be interesting to know which gender performs better at investing.
Their id a difference between owning something, and controlling the money that owns the thing. Many people own homes for tax purposes; but how many of those people 'really' own the homes?
skamy
11 Jun 2013, 03:46 PM
How come you have dropped all the preacher man stuff, doubleview? where are all the "god spare your wicked souls" comments that were so much fun?
You have gone all boring
Your trouble is that you are treating buying a home as a speculative activity, ie "don't buy now- prices are gonna drop", or "better sell up prices are gonna fall". Most sensible folk don't behave like that they buy when they can afford to buy and they want their own home then they sell when they need to move, upsize or downsize. If you wait until well into your 30s to buy your first home you will ALWAYS be behind the game compared to folk who bought at a younger age, no matter what the economic picture.
Speculators like you are better out of the market, you guys just cause distortions of pricing during the upturns and the downturns, with your dreams of making a buck on the back of others misfortune.
This old duck loves having a bit of fun with angry-cheap-house-dreamers like yourself.
Tell that to those people who bought before a housing crash. My cousin bought just before the 92 crash in the uk. They were forced to declare bankrupt, and they have never owned since. If you get it badly wrong the first time, you may not get another chance.
Landgate also showing large price rises. The last complete month has a median price of $527,000. The bottom of the market occurred in September 2011 with a price of $467,000. That is a bounce of almost 13% from the bottom of the market, this puts us well above previous highs. Landgate previous high for the Perth market was $520,000 when we had all the stimulus from the GFC labour mega spendathon. We have no stimulus this time round other then falling rates which will also had during the GFC.
The interest point here is this was in February, the market has increased since this point in time. You can see in March figures which are not yet complete but based on massive amount of sales data, the median price shot up another $9,000 to $536,000. April and may are still far to early to say but I would expect April to be a bit lower in the end, with a further rebound in May.
If you had bought a median property in September 2011 your value would now be up $69,000 or almost 15% growth.
This is just another indication you can use to form your own opinions, another data set.
To bad Perthite did not listen to BP as he had it spot on.
Their id a difference between owning something, and controlling the money that owns the thing. Many people own homes for tax purposes; but how many of those people 'really' own the homes? Tell that to those people who bought before a housing crash. My cousin bought just before the 92 crash in the uk. They were forced to declare bankrupt, and they have never owned since. If you get it badly wrong the first time, you may not get another chance.
The same thing happened to my brother in law. However, he was not forced to sell he just did a Steve Keen and wanted out. He paid a mortgage for the negative equity for years afterwards and he has never bought since, they are coming up for retirement in a few years and they have nothing to fall back on. I worry that they will end up in public housing for their old age. This is one of the reasons I get so cranky with the doom time speculators advising folk to sell in a downturn.
We had a very bad run in the 90s too, our house in the UK crashed by 50%, we had to rent a 3 bed shack in Mascot with an outdoor loo, to cover the mortgage etc. However, we sold it a few years later for a price that was much higher than pre-crash peaks. We got a great exchange rate, $3 for the pound and that set us up for our property in Australia.
House prices crash very rarely and they do always return to pre-crash prices and more. You have to make a sensible judgement on when to buy and not to over borrow and to quickly build up equity so that the next downturn can be survived. To spend your life in fear of a downturn is to miss out on the opportunity available to everyone to grow a bit of wealth through property.
Some of this crash wishing going on here is really just greed, people hoping that prices will fall for their own gains, and they will just end up missing the boat as we leave the GFC crisis behind.
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.
The same thing happened to my brother in law. However, he was not forced to sell he just did a Steve Keen and wanted out. He paid a mortgage for the negative equity for years afterwards and he has never bought since, they are coming up for retirement in a few years and they have nothing to fall back on. I worry that they will end up in public housing for their old age. This is one of the reasons I get so cranky with the doom time speculators advising folk to sell in a downturn.
And if your brother in law had hung on, what would the outcome have been?
Any expressed market opinion is my own and is not to be taken as financial advice
And if your brother in law had hung on, what would the outcome have been?
If he had waited or rented out his home he would have been able to sell it at a profit a few years later, and/or he would have that home to retire to now,or provide an income. He is very unhappy that he made this decision and regrets it,obviously with hindsight he was hasty. In those late days of the 80s all of us were high on the property boom and we had remortgaged for holidays etc, and that was why we struggled so much when the crash hit. We were lucky that we held on - we too had tried to sell when the crash hit but failed, so we opted to rent it out, and that worked out in our favour after a few tough years.
This downturn from the GFC did not hit the UK so bad in terms of property price drops, and I reckon that was because many people had learned the lessons of the 80s.
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.
If he had waited or rented out his home he would have been able to sell it at a profit a few years later, and/or he would have that home to retire to now,or provide an income. He is very unhappy that he made this decision and regrets it,obviously with hindsight he was hasty. In those late days of the 80s all of us were high on the property boom and we had remortgaged for holidays etc, and that was why we struggled so much when the crash hit. We were lucky that we held on - we too had tried to sell when the crash hit but failed, so we opted to rent it out, and that worked out in our favour after a few tough years.
This downturn from the GFC did not hit the UK so bad in terms of property price drops, and I reckon that was because many people had learned the lessons of the 80s.
That is the answer that I expected.
Interest rates in the eighties went to about 18% here and they would have been high in the UK, that is what cost people their homes, and that's why this time there hasn't been a big sell off.
What Abbott does as our new PM will be interesting.
Any expressed market opinion is my own and is not to be taken as financial advice
This downturn from the GFC did not hit the UK so bad in terms of property price drops, and I reckon that was because many people had learned the lessons of the 80s.
the GFC has far from run its course....
Speak to people you may know in US, UK, Europe or even Asia.. Most people stationed in Asia are content but still miss the old days, while many people I know from US and Europe have quite depressing tales to tell...
I've met ( and in some cases interviewed ) more than one older fella who has moved to Asia just to secure employment to keep up their child payments so they don't lose all access to their children... it's not pretty.. they have zero desire to be this far from their children and i know a couple who were constantly checking wanted ads for back in their home country...
This is in addition to countless number of youth applicants... 5-10 years ago we never had this much interest for positions when we were paying almost double, with better conditions.. just a sign of the times...
sorry to run off on tangent... but i think blind optimism about what is going on outside of Australia is highly misleading and just as damaging as those scaremongering about a crash.
What Abbott does as our new PM will be interesting.
i doubt it. "Small-target" Abbott has basically locked himself in as "mildly-right-of-Labor" in expenditure and policy terms for his first three years. The main point of difference from the Labor government will involve considerable chest-beating about boats.
The 2016 election, OTOH, will be very interesting indeed.
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