Ooooh no Timo You jealous with the govt support for investors??
Sometimes it's the unexpected land zoning change that can put a spanner in the plans.. What about all the expenses that the landlords/ investors need to pay .. Shire rates, land taxes , stamp duty, PAYG, CGT, it's easy to dismiss that isn't it.. who pays for that ..honey dumbs ..
You definately won't need to worry about that Timo.
The govt is not the total sugar daddy... payback does need to happen ....sometimes.. My comment on capitalism involves that it the individual's choice to make the $$$ ... You blame yourself if things go wrong..
Right so you want all the benefits of a capitalist system, but also to be protected from all of the downfalls by the tax payer! You want the best of both worlds....right....like I said, GREED.
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.
I enjoy your posts Timo. Most are well written bear food. A lot of truth and honesty in them. Sometimes they feel a little ahead of their time for the level of bearishness. I think they'll read really well when the average punter is out for blood some time in the future.
So the fact that less than 5% of dwellings in NSW and 6% were bought by FTBs last month in Qld means that they are all lazy moaners.
What a fucking idiot you are.
At least Mike and Trojan admit to their " its fucked but if you cant beat em join em" mind set.
You are the eejit Veritas --- What is the % of FHB in Perth? Is that because Perth is so cheap and affordable hey? They are not whining like stuck pigs as you and your mates like to do down the pub. Blaming everyone but yourself because the world does not deliver to you what you think you are entitled to.
I said that guy who Timo failed to cite was on a self pity party, and I know that you like to join in with the poor mes oftentimes ie, " poor me I cannot buy a house in Wembley for the same price someone else paid 10 years ago" "Oh poor me don't expect me to buy in outer bumfuck and live with a pile of bogans and god forbid I would have to get a train to work".
Then there was your burn the village comment ie that you could care less about other folk so long as you got a cheap-house.
Where is your answer to the real issues of affordability ie the taxation levels on new builds, the traditional domain of low income earners and first home buyers? Both Mike and I have pointed out that low income buyers are subjected to higher relative taxes.
Not interested are ya ? getting government help for purchasers of $350K homes does not help you does it?
All I can say is karma mate, it is good day for the homeowners of Perth today, from the new migrants driving a taxi and who saved everything to buy a little $350K house last year to the retirees who can finally downsize without losing their life savings, and a shit day for the spoilt brat upstarts that wanted to pay less for a house than everyone else.
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.
By any metric the price young people are paying for land outstrips the boomer good times by many multiples. House prices have nothing to do with it.
Boomers have surfed a Greenspan inspired asset boom of epic proportions and have the naivety and total self absorption to think it was something to do with their own magnificent skills. The funny thing is this exactly the game Greenspan and the finance industry played – romancing the boomer. Whisper sweet nothings in their ear, play to their ego and secret their equity away.
It will be interesting when they get old and sick and the government starts taking their assets to fund their outrageous nursing home costs. Watch the cries for medical system reform then.
The chances are that the author of your uncited self pity party pisses all his money down the pub and does nothing to plan for his own financial future never mind being in any position to do something for anyone else.
He is just heartbroken because he did not get to watch other folk lose their life's savings and he did not get the chance to pick over their bones.
So he tries to pass off his greed and envy as he self righteously preaches to others who are just trying to do the best for their families.
You forgot "The CHILDREN! Won't someone think of the children!"
The ponzi party is over because jobs have dried up.
The Roy Morgan survey of around 10% unemployment has been pretty much on the money for the past 3 months (the ABS survey is a furphy).
You know people are been laid off buy speaking to those around you and the dwindling number of jobs advertised.
The MSM are no longer allowing comments that follow stories about housing RE and Jobs, as there is (a growing audience) too many negative comments regarding overpriced housing and no jobs to be found.
The construction sector can only hope a new head of Govt will start throwing money at infrastructure projects or we will need to rely on a larger immigration intake that need to be fed and housed!
By any metric the price young people are paying for land outstrips the boomer good times by many multiples. House prices have nothing to do with it.
Boomers have surfed a Greenspan inspired asset boom of epic proportions and have the naivety and total self absorption to think it was something to do with their own magnificent skills. The funny thing is this exactly the game Greenspan and the finance industry played – romancing the boomer. Whisper sweet nothings in their ear, play to their ego and secret their equity away.
It will be interesting when they get old and sick and the government starts taking their assets to fund their outrageous nursing home costs. Watch the cries for medical system reform then.
Spot on
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.
I enjoy your posts Timo. Most are well written bear food. A lot of truth and honesty in them. Sometimes they feel a little ahead of their time for the level of bearishness. I think they'll read really well when the average punter is out for blood some time in the future.
I hope timo thanked you for the reach around?
Ignore posts by The Whole Truth · View Post · End Ignoring The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
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.
You are the eejit Veritas --- What is the % of FHB in Perth? Is that because Perth is so cheap and affordable hey? They are not whining like stuck pigs as you and your mates like to do down the pub. Blaming everyone but yourself because the world does not deliver to you what you think you are entitled to.
I said that guy who Timo failed to cite was on a self pity party, and I know that you like to join in with the poor mes oftentimes ie, " poor me I cannot buy a house in Wembley for the same price someone else paid 10 years ago" "Oh poor me don't expect me to buy in outer bumfuck and live with a pile of bogans and god forbid I would have to get a train to work".
Then there was your burn the village comment ie that you could care less about other folk so long as you got a cheap-house.
Where is your answer to the real issues of affordability ie the taxation levels on new builds, the traditional domain of low income earners and first home buyers? Both Mike and I have pointed out that low income buyers are subjected to higher relative taxes.
Not interested are ya ? getting government help for purchasers of $350K homes does not help you does it?
All I can say is karma mate, it is good day for the homeowners of Perth today, from the new migrants driving a taxi and who saved everything to buy a little $350K house last year to the retirees who can finally downsize without losing their life savings, and a shit day for the spoilt brat upstarts that wanted to pay less for a house than everyone else.
Lets pretend Perth doesn't exist.
Now answer the question.
Fraudster.
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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