Mortgage default rates? They're very low so I suppose you would want to rule out that useless measure.
ABS housing finance approvals? Rising strongly, so you probably don't want to use that either. Another useless measure, right?
House prices? Rising, so I guess you won't be using that one... useless measure!
Auction clearance rates? Back at boom time levels... but... useless, yes?
Prevalence of gloomy articles by whinging doomsters? Great! Heaps of those around so the market must be in real trouble.
The hubris.
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
Look at the chart - mortgage buffers were building even when rates were higher.
You have been fed a false dream by the gloomsters Moops. They suckered you, by pandering to your bitterness and sense of entitlement.
You're a lying piece of shit. You know full well this economy would tank if IRs went up a full percent.
You're a part of a criminal class using socialism in order to prop up your bubble, then you blame the victims, calling you scum would be a compliment.
You're a sociopath. You and your family should be sent to a gulag immediately.
stinkbug omosessuale Frank Castle is a liar and a criminal. He will often deliberately take people out of context and use straw man arguments. Frank finally and unintentionally gives it up and admits he got where he is, primarily via dumb luck! See here Property will be 50-70% off by 2016.
Cool rant, very emotional... I can totally picture your rage.
Yeah you're so cool sitting all pretty and smug a top a criminal enterprise, lying through your teeth and abusing the victims, aren't you just so civilised and the big man.
stinkbug omosessuale Frank Castle is a liar and a criminal. He will often deliberately take people out of context and use straw man arguments. Frank finally and unintentionally gives it up and admits he got where he is, primarily via dumb luck! See here Property will be 50-70% off by 2016.
Whats the truth Mike? Property prices to the moon? A boom without end? Cheap money forever? Full employment forever? Investor sentiment unchanged despite diminishing yields?
Shadow is basically saying that everything Cashmore has written is bereft of insight.
I think, as usual, she makes a number of good points.
Some of the bulls; attitudes can only be described as hubris.
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
I enjoy some of her articles and believe she makes some great points, but its difficult to take her work seriously knowing at the end of the day it's an advertisement for business purposes
APF - a place where serious people don't take themselves too seriously. There's nothing else like it.
Mortgage default rates? They're very low so I suppose you would want to rule out that useless measure.
ABS housing finance approvals? Rising strongly, so you probably don't want to use that either. Another useless measure, right?
House prices? Rising, so I guess you won't be using that one... useless measure!
Auction clearance rates? Back at boom time levels... but... useless, yes?
Prevalence of gloomy articles by whinging doomsters? Great! Heaps of those around so the market must be in real trouble.
It's like saying that underage drinking is not a problem because the average age of drinkers is 47.
I'd suggest that mortgage default rates would be the best measure of severe housing stress. Unlike you, I'm not trying to manipulate statistics to prove an argument.
Whats the truth Mike? Property prices to the moon? A boom without end? Cheap money forever? Full employment forever? Investor sentiment unchanged despite diminishing yields?
Shadow is basically saying that everything Cashmore has written is bereft of insight.
I think, as usual, she makes a number of good points.
Some of the bulls; attitudes can only be described as hubris.
No its a failure on her part and Bears to grasp the reality of what is happening.
I do not know any Bull that claims prices rise for ever. Shadow posted only a few days ago talking about property cycles. We are in a Bull market and prices of property nationwide could rise much further. It does not matter if "You" cannot afford it as there are many people who can and will buy as they have more money then you.
As I have told you prior, when you have more and more people chasing fewer and fewer properties prices will rise and rise further and faster then most think is possible. Until we build much at a much higher level so supply can keep up with demand this will continue.
We are in a bull market for the next few years at least then as all markets do it will turn it may happen in 2 years or maybe 5 who knows.
If you wanted to buy or build 2011 was the best year with 2012 not far behind it. If you missed that period for what ever reason then you are just plain out of luck until the next bear market. Even then you will be buying property from a new high base most likely 20-30% higher then levels of 2011/12.
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