Outright home ownership plumments over the past 15 years - The only winners are the banks!; Proportion of households that are outright home owners has fallen from almost 42% in the mid-1990s to 30.9 % today
Tweet Topic Started: 29 Aug 2013, 10:55 AM (4,904 Views)
Hmmm, one example from memory is Black Panther who said he was leaving the forum when Perth prices had dropped around 10%, he quickly returned when the next data set was positive.
House prices in Perth fell continually for about two years, I think BP was here for nearly all that time, apart from a month or so?
That's right, but like I said, aggregrate equity rises *more* than aggregate liabilities, almost all the time. The system is geared to work this way - ignore at your financial peril!
Almost all the time is not the same as all the time. Ignore at your financial peril!
------------------------------ " ... which is that all-too-familiar dynamic in Irish life where people tell lies, cover them up and create all sorts of collateral damage, sometimes spread out over decades, and never take responsibility." - Alan Glynn
But it would help if ya changed ya pic ta something just a bit easier ta warm to maybe? (That's not a criticism - Just a comment.)
There's fire in my eyes - how much more warmth do you want?
Ignore posts by The Whole Truth · View Post · End Ignoring The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
House prices in Perth fell continually for about two years, I think BP was here for nearly all that time, apart from a month or so?
You may not remember. It was around about the time Perth house prices bottomed, he must have been getting a bit nervous or feeling a bit silly because he said he was leaving the forum permanently. A month or two later the next data set showed positive movement for Perth house prices, and voila, he reappeared.
You may not remember. It was around about the time Perth house prices bottomed, he must have been getting a bit nervous or feeling a bit silly because he said he was leaving the forum permanently. A month or two later the next data set showed positive movement for Perth house prices, and voila, he reappeared.
I don't remember it that way... can you find the post?
That's it bears - take the moral high ground. We all know most of you *really* wish for economic armmageddon just so that *you* can pay less for a house than what it would cost you right now. Not for selfish motives though of course - for the good of society of course.....
That is true cheap housing is better for everyone in society apart from investors, developers, councils and govt.
Please who would have exception to most people having more discretionary income? By supporting raising bouse prices you are basically telling everyone you want them to be poorer and have less money in their pocket.
I merely call things as I see them. There is nothing to be gained by "wishing" reality was different. You say that if houses were cheaper, we would all have more discretionary income? This is very flawed thinking, from many angles.
Critique #1: let's take it to the extreme - what if everyone got given a FREE house! Then we would all have more dicretionary income to spend right? How great would that be? But it's a silly idea isn't it? I mean for a start, who would decide who got what house? Dibs on that Balmoral beachside mansion thanks! Well then, what *should* house prices be? 90% cheaper? 50%? 20%? Bit whatever they "should" be, to avoid problem a there must be a market. The reality is that house prices are set by the market already - and they will be what the market determines them to be, for every individual property.
Critique #2: Re increased discretinoary income - have countries that have seen a significant reduction in house prices, like the USA, Ireland, and Spain, seen a corresponding increase in household spending and discretionary income? The answer NO, they haven't - funny that isn't it? In fact the opposite has occured - chronically high unemployment, falling incomes, and reduced rates of home ownership. Everything is linked - you can't have your cake, and eat it to I'm afraid.
BP seems ta want'ta ... Positively revels in the thought in fact? - Good Believing Christian lad that he is. 'N Shady 'n Strindberg seem keen as well ... Plus Skamy 'n Mike wouldn't be at all adverse to it I reckon?
It's the likes of yourself and other bears who are encouraging renters to stay renters and stay poor. Deterring people from home ownership, as the bears do with baseless threats of crashes, false short-term maths, and DBN dictates is precisely the approach guaranteed to support property investors and ensure lower owner-occupier home ownership and greater wealth disparity.
propertymogul
29 Aug 2013, 03:47 PM
Hmmm, one example from memory is Black Panther who said he was leaving the forum when Perth prices had dropped around 10%, he quickly returned when the next data set was positive.
You've only been here 3 months with your current handle. What was your old handle?
BP's prediction was awesome. He said the tipping point would be Q3 2011. It was. Exactly.
It's the likes of yourself and other bears who are encouraging renters to stay renters and stay poor. Deterring people from home ownership, as the bears do with baseless threats of crashes, false short-term maths, and DBN dictates is precisely the approach guaranteed to support property investors and ensure lower owner-occupier home ownership and greater wealth disparity. You've only been here 3 months with your current handle. What was your old handle?
BP's prediction was awesome. He said the tipping point would be Q3 2011. It was. Exactly.
I've only been posting for around 3 months. But have been reading the forum off and on for a few years. I agree BP ended up with a great call, however before he was vindicated the negative data kept coming in, and he must have doubted his own predictions, because he sadly said he would be leaving the forum.
Hmmmm - is see you could not come back to your last stuff up with me (when you suggested I left out Negative gearing when calculating the benefits of owning rather than investing - when I didn't).
Affordability is based on household income - always have, always will. The data shows affordability has not changed.
Deal with it.
Hey b_b My bad, was wrong as I was reading it as 1945 not 1995. Not sure why, old age and bad eyes maybe.... and yes, I realise after I did the post re NG, that it was included, however I can not edit any of my posts. You were quite correct.
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That's right, but like I said, aggregrate equity rises *more* than aggregate liabilities, almost all the time. The system is geared to work this way - ignore at your financial peril! 
Well then, what *should* house prices be? 90% cheaper? 50%? 20%? Bit whatever they "should" be, to avoid problem a there must be a market. The reality is that house prices are set by the market already - and they will be what the market determines them to be, for every individual property.
