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 (4,902 Views)
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 never actually previously felt ta tell any [Edit by Alex: no racial slurs even in jest please] back where they cum from mate - But yep, YOU are stretching my patience ...
I see Pauk is now posting both as unregistered Logic and as registered willy-nilly and he still loses every discussion.
When in airports I can not be bothered to log in, so yep, I will use Logic when out and about. Also feel more nervous when in Canberra and logging in for some reason...;-)
I think there are treatments and operations available to help with that nowadays.
Ooooooooooohhhhhhhhhh Really
Have you had personal experience? Crafty sod for not quoting me properly..........
herbie
29 Aug 2013, 04:13 PM
I've never actually previously felt ta tell any slope or slav or wog or coon or black boong or white boong ta fuck awf back where they cum from mate - But yep, YOU are stretching my patience ...
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 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.
1. Why take it to the extreme no one is talking extreme. Free houses is just silly no one needs to get a free house or decide who gets a free house. I'm talking about median price around 250-300k. Are the prices set by the market? The government zones the land and council sets fees, are they the market. 40% the price of a new house is taxes and fees. I'm talking about lower land prices as well.
2. Course those countries have not seen increase in discretionary income. Those countries had a boom, bust and recession. If you have high unemployment you are not going to have high discretionary income. Many people are in negitive equity and have still lare mortgages so do not have spare cash. I'm not talking about having a bust but not letting prices get that high to begin with by increasing affordable land supply. Look at Houston Texas. Grown 20% in 10 years, cheap houses, good wages, good economy and high relative discretionary income.
They can go out buy cars go on holiday have more consumer goods etc everybody wins, investors know they will not get capital gains people have more cash in their pocket.
How can this not be a good thing?
Its a bit late for us but I would like to see houses go down 15% and then flatline for a while then rise with inflation. More people in society will benefit then be neg affected by this.
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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.
