Moody's Assessment of Overvalued Australian Housing: Local analysts don't know how serious it is; Stark warning bells sound: Australians blind to impending financial Armageddon
Tweet Topic Started: 16 Jul 2013, 09:36 AM (10,592 Views)
Minus the developer loans. So loans made to home purchasers rather than home builders.
But I think you know that.
You know I might just see if I can dig out what the Irish banking sectors mortgage book was in 05 or 06 to do a quick compare and contrast.
Sydneyite
16 Jul 2013, 06:55 PM
Goodwin's law - this is an admission that you have lost the argument, and you've got nothing left but ad-hom attacks and Nazi references.
Ah so he can call me names but I cant reciprocate.
That sounds fair.
Edit: and yeah, I've pretty much said what I wanted to say. Arch propagandist Goebbels was looking to discredit me by twisting what I was saying. That's cool, that's what he is for after all.
And when all is said and done the Moody's report remain in play, reminding everyone just how large the property finance construct in Australia actually is.
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
Quite the opposite. It's your own you-tube derived misunderstanding of interest which leads you to consider interest only as a charge to the borrower and for you to ignore the interest credit to the receiver of the interest. Double accounting confirms my statements and destroys your own.
It is a function of the RBA to maintain a stable banking system, and if need be the RBA will lend to any bank to overcome a short term liquidity problem. This is not a new idea, it's largely why central banks came into existence.
And they are doing the best they can.
But we would do well to remember that many of the countries that started down the path we did with residential property lending since the 1990s have since suffered because of it.
These are the facts.
lending to workers for housing and other consumer items started in earnest about 100 years ago.
The question is should buyers be limited by availability of credit or willingness to pay. Almost everyone chooses to limit credit but they never think that it may be them who will be refused a loan.
Any expressed market opinion is my own and is not to be taken as financial advice
Goodwin's law! This is an open admission that you have lost the argument, and you've got nothing left but ad-hom attacks and Nazi references.
Sounding like a scared and confused little bull there stupidite
After a bubble has burst, no one denies that it existed. But before it does, the popular refrain is that though bubbles existed elsewhere in the world, “there’s no bubble here”. So housing bubbles are admitted to have existed in Japan, the USA, Spain and Ireland – because they’ve already burst.
Sounding like a pimply uneducated teenager there Timo!
You seem to take being pathetic quite seriously....you've evidently perfected the art
After a bubble has burst, no one denies that it existed. But before it does, the popular refrain is that though bubbles existed elsewhere in the world, “there’s no bubble here”. So housing bubbles are admitted to have existed in Japan, the USA, Spain and Ireland – because they’ve already burst.
Quite the opposite. It's your own you-tube derived misunderstanding of interest which leads you to consider interest only as a charge to the borrower and for you to ignore the interest credit to the receiver of the interest. Double accounting confirms my statements and destroys your own.
In other words, the money supply never expands, is that what you are saying? Every credit matches every debit? There is the same amount of money now as there was 100 years ago?
Goodwin's law! This is an open admission that you have lost the argument, and you've got nothing left but ad-hom attacks and Nazi references.
Greenwald's law! Godwin's law is only a statement of probability. Valid comparisons to Nazis and Hitler can be discredited by invoking Godwin's law, serving to shut down debate.
Hypothetical: Some modern state rounds up Jewish people, puts them in concentration camps where they die in large numbers. Hypothetical country name Godwinia.
Poster1: The government of Godwinia are just like the Nazis! Sydneyite: Godwins law! You mentioned the Nazis so you basically admit you have lost the argument! The good people of Godwinia are therefore nothing like the Nazis! Poster1: F^ck you asshole.
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
