Maybe they are coming home with sizable deposits and buying houses. Would seem a strange thing to do if you've just lost your job but if you had the alot of cash saved you might do it.
it would make sense there is a bit of this going on which would explain the increased activity in recent months ...
moving out from mining areas back to the big smoke , cash in hand ...
Out of curiousity Blondie, what effect do you think the recent slowdown in mining has had on the housing market? Is there are a large number of workers returning to Perth, deciding to buy and settle down now that they have lost their job in a mining town. Maybe they are coming home with sizable deposits and buying houses. Would seem a strange thing to do if you've just lost your job but if you had the alot of cash saved you might do it.
dunno I would hope that some who were smart have saved their $$ to improve their situation...you'd want to get in & make as much $ as you can .
The dummies would be the bogans that wasted their $ on the latest Holden & partying.. They would certainly need to establish job security....before considering a financial committment. I don't have much to do with them personally ...
Current tenants are no FIFO workers....
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$ It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do. Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
Out of curiousity Blondie, what effect do you think the recent slowdown in mining has had on the housing market? Is there are a large number of workers returning to Perth, deciding to buy and settle down now that they have lost their job in a mining town. Maybe they are coming home with sizable deposits and buying houses. Would seem a strange thing to do if you've just lost your job but if you had the alot of cash saved you might do it.
Might be some of this but I think it would be to small to notice or record.
I think Perth's market is built on a lot strong fundamentals then just "mining". If mining was the only thing driving the property market, why did the market fall 10% in the middle of the largest investment boom in Australian history with unemployment at less then 4%.
The market is influenced by the two largest factors in my opinion supply vs demand and interest rates. Supply is very restricted due to the previous 4 to 5 years or low construction despite high population growth. As prices had been stagnant a buildup in demand has occurred as buyers held of buying in the hope of more prices falls as evident by bears o this forum, and sellers not selling until prices recovered, hence Perth's stagnant market for along period.
Interest rates falling and looking to remain low for at least a few years is driving renters to buy now while conditions are good, costs of owning have not been this low for 10 years since 2003\4. FHB are buying up established homes at a rate of 80% vs new homes. This frees up upgraders to move into the next market which we have seen this year and looks to be getting stronger.
You like touching things that have been touched by lots of other people? You like getting scratched shitty dvd's that don't work? You like putting on Bambi Blows Barbados for the kids when it's meant to be Bambi the frigging dear? (Bambi's got no fur Daddy!!!)
Sometimes technology is a good thing. Hell, the spotty kids can always deliver pizza. You can't stream that.
Spiderman
Havin a tantrum I see. You don't like sharing....
Here's my tantrum
Went to look for some new leather lounge theatre sofas yesterday.. Some parent obviously didn't control their brat in leaving their greasy fingermarks on 1 sofa...stupid parent should not let their kids et in the friggin shop. No manners.
I have taught my kids manners ..no fear
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$ It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do. Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
I hear there is good money in being a video shop owner though!
In melbourne there are a few blockbuster video stores that have been cut in half to provide space for Nando's chicken stores. I could think of worse things to do with the floorspace!
i followed miw to said casino but lost all my fckn money before i made it to the bar
Went to look for some new leather lounge theatre sofas yesterday.. Some parent obviously didn't control their brat in leaving their greasy fingermarks on 1 sofa...stupid parent should not let their kids et in the friggin shop. No manners.
I have taught my kids manners ..no fear
We just bought an ex display four seater. Absolutely lovely. So comfortable. I was worried it may have had sticky fingers on it, but it was pristine. Less than a third of the retail value. We are moving away from leather. Leather is fine with young kids, as it is so easy to clean. But I prefer good quality cloth to sit on. Leather is either too hot or too cold. Ours are getting older now, so a bit more responsible. Means we can't eat or drink on it, but we have several other reception rooms, so not a big problem. BTW - if you ever get biro on a lounge (cloth or leather) - use hairspray. Works wonders.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
Come to think.. The majority of my tenants are Kiwi's ...some do move here to eventually buy.
More likely rent plateaus for now.....
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$ It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do. Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
Speaking of which. We just signed our lease agreement in Perth...
It used to be 12 months. Then 6 months.
We are now on periodic by our choice AND the rent dropped.
We told them rates fell so we are moving out. Unless they drop the rent by $20.
And they did!
Given the STACKS of rentals in Perth now we might just move out to cheaper digs.
Rent was 450. Now it's 430. Cost to move $1000 (apartment living baby!) Places better than ours for 400... Savings $1600 a year.
I love it when all the immigrants finally realise its costing them 50% of their wage just to live in Perth and now they are all like fk Perth ill go home to work get paid the same and live with family and friends and still earn the same. Especially now the exchange rate has turned to shit.
Soooo many properties on the market and so many boomers starting to worry their assets about to take years of zero to negative growth trying to cash out of Perth haha. What's that? New housing builds is up? Increasing supply even more? Because people without debt can now borrow with almost no interest? The 18 yr old tradie working 1 year under you has a new house twice as nice as yours? But it's ok because you negatively gearing... Haha idiots.
It's funny as fk to see someone who's a TA with a nicer house than the boss. And the boss is like 'buy my house off me so I can upgrade but the TA is like, na old man I can build a new house for half what you need to cover your losses. ' and the boss getting angry but not know why his houses are worth less than what the new guy just managed to buy.
It's called a meltdown and its happening in Perth right now. Smart ones got out and got shares and bonds or if they really wanted realestate bought in the freeway new expansion villages. Dumb ones kept holding onto flat assets. Having a unit paid off giving you money is shit if you don't get more than at least the cash rate back. And negatively gearing it DAM stupidity! Morons. Boomer generation is having its wealth stolen from it because they don't understand what inflation is. It's awesome for the new generation. Cheap rent and easy money. Bad for the boomers. Someone who's 25 has been over seas and partied harder more often than a boomer in his 50's and they still have greater capacity than the boomer.
Australian Property Forum is an economics and finance forum dedicated to discussion of Australian and global real estate markets and macroeconomics, including house prices, housing affordability, and the likelihood of a property crash. Is there an Australian housing bubble? Will house prices crash, boom or stagnate? Is the Australian property market a pyramid scheme or Ponzi scheme? Can house prices really rise forever? These are the questions we address on Australian Property Forum, the premier real estate site for property bears, bulls, investors, and speculators. Members may also discuss matters related to finance, modern monetary theory (MMT), debt deflation, cryptocurrencies like Bitcoin Ethereum and Ripple, property investing, landlords, tenants, debt consolidation, reverse home equity loans, the housing shortage, negative gearing, capital gains tax, land tax and macro prudential regulation.
Forum Rules:
The main forum may be used to discuss property, politics, economics and finance, precious metals, crypto currency, debt management, generational divides, climate change, sustainability, alternative energy, environmental topics, human rights or social justice issues, and other topics on a case by case basis. Topics unsuitable for the main forum may be discussed in the lounge. You agree you won't use this forum to post material that is illegal, private, defamatory, pornographic, excessively abusive or profane, threatening, or invasive of another forum member's privacy. Don't post NSFW content. Racist or ethnic slurs and homophobic comments aren't tolerated. Accusing forum members of serious crimes is not permitted. Accusations, attacks, abuse or threats, litigious or otherwise, directed against the forum or forum administrators aren't tolerated and will result in immediate suspension of your account for a number of days depending on the severity of the attack. No spamming or advertising in the main forum. Spamming includes repeating the same message over and over again within a short period of time. Don't post ALL CAPS thread titles. The Advertising and Promotion Subforum may be used to promote your Australian property related business or service. Active members of the forum who contribute regularly to main forum discussions may also include a link to their product or service in their signature block. Members are limited to one actively posting account each. A secondary account may be used solely for the purpose of maintaining a blog as long as that account no longer posts in threads. Any member who believes another member has violated these rules may report the offending post using the report button.
Australian Property Forum complies with ASIC Regulatory Guide 162 regarding Internet Discussion Sites. Australian Property Forum is not a provider of financial advice. Australian Property Forum does not in any way endorse the views and opinions of its members, nor does it vouch for for the accuracy or authenticity of their posts. It is not permitted for any Australian Property Forum member to post in the role of a licensed financial advisor or to post as the representative of a financial advisor. It is not permitted for Australian Property Forum members to ask for or offer specific buy, sell or hold recommendations on particular stocks, as a response to a request of this nature may be considered the provision of financial advice.
Views expressed on this forum are not representative of the forum owners. The forum owners are not liable or responsible for comments posted. Information posted does not constitute financial or legal advice. The forum owners accept no liability for information posted, nor for consequences of actions taken on the basis of that information. By visiting or using this forum, members and guests agree to be bound by the Zetaboards Terms of Use.
This site may contain copyright material (i.e. attributed snippets from online news reports), the use of which has not always been specifically authorized by the copyright owner. Such content is posted to advance understanding of environmental, political, human rights, economic, democratic, scientific, and social justice issues. This constitutes 'fair use' of such copyright material as provided for in section 107 of US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed for research and educational purposes only. If you wish to use this material for purposes that go beyond 'fair use', you must obtain permission from the copyright owner. Such material is credited to the true owner or licensee. We will remove from the forum any such material upon the request of the owners of the copyright of said material, as we claim no credit for such material.
Privacy Policy: Australian Property Forum uses third party advertising companies to serve ads when you visit our site. These third party advertising companies may collect and use information about your visits to Australian Property Forum as well as other web sites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here: Google Advertising Privacy FAQ
Australian Property Forum is hosted by Zetaboards. Please refer also to the Zetaboards Privacy Policy
