Sydney's property market heads into spring in the best shape in years, with RP Data releasing figures on Monday showing 5.4 per cent growth in the past three months.
Another sign of strength in the Sydney market was the sell-out of the first 159 apartments at Barangaroo at Saturday's early morning launch.
Even the four-bedroom penthouse sold, which was bought by an Australian expat living in Geneva for $10.5 million.
In my opinion this is the last race, the bull trap. The last bear (Keen) has capitulated, macro-business are predicting a 14 year bull market and someone bought an average 2-bedder on Bondi for $1.7M. All reason or sanity has left the market and given place for greed mixed with plain old stupidity.
I would not, under any circumstances enter the market now.
In my opinion this is the last race, the bull trap. The last bear (Keen) has capitulated, macro-business are predicting a 14 year bull market and someone bought an average 2-bedder on Bondi for $1.7M. All reason or sanity has left the market and given place for greed mixed with plain old stupidity.
I would not, under any circumstances enter the market now.
My definition of bull trap differs from yours then. In a classic bull trap, the asset price recovers slightly after a big fall - less than the previous peak, and then resumes falling If it exceeds the previous peak, then its not a bull trap in my books - even if it falls by a large amount afterwards.
What gold is doing now is what I call a bull trap (and watch the gold bugs pile in)
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
In my opinion this is the last race, the bull trap. The last bear (Keen) has capitulated, macro-business are predicting a 14 year bull market and someone bought an average 2-bedder on Bondi for $1.7M. All reason or sanity has left the market and given place for greed mixed with plain old stupidity.
I would not, under any circumstances enter the market now.
immigration is the wildcard though, and this time around many of the migrants have more money than the locals unfortunately.
APF - a place where serious people don't take themselves too seriously. There's nothing else like it.
immigration is the wildcard though, and this time around many of the migrants have more money than the locals unfortunately.
Yes, for now.
But a LOT of immigrants, especially well educated younger immigrants with comparably high salaries from Europe and the US are moving back due to the sadistically high costs of living.
I fall into that category and every other person I know from Europe or the US & Canada have either moved back or are planning on moving back very soon. I dont know where you live but if you are in Sydney there is a clear trend of people leaving at rates that I have not seen before.
What gold is doing now is what I call a bull trap (and watch the gold bugs pile in)
That bull trap has already been sprung, actually, and there are a whole lot of gold buyers sitting on losses after less than a fortnight. It just failed to break resistance in the US$1420s. Let's see what it does with short-term support around the US$1360 mark.
The truth will set you free. But first, it will piss you off. --Gloria Steinem AREPS™
"It were not best that we should all think alike; it is difference of opinion that makes horse races." - Mark Twain on why he avoids discussing house prices over at MacroBusiness. "Buy land, they're not making any more of it." - Georgist Land Tax proponent Mark Twain laughing in his grave at humourless idiots like skamy that continually use this quip to justify housing bubbles.
But a LOT of immigrants, especially well educated younger immigrants with comparably high salaries from Europe and the US are moving back due to the sadistically high costs of living.
I fall into that category and every other person I know from Europe or the US & Canada have either moved back or are planning on moving back very soon. I dont know where you live but if you are in Sydney there is a clear trend of people leaving at rates that I have not seen before.
I feel like the last man standing...
I agree. I don't know why anyone would want to come here if they are of reasonable means. For instance the programming market is still full of jobs. But obviously you'd be hard up buying a 2 bed apartment.
Are you Swedish Sweetdish? Why do you stay here? If my family was in Sweden, and given how cheap housing is there as you proved the other day, I'd be out of here in a second.
Soul Torpor
10 Sep 2013, 09:40 PM
Think they're mixing MB up with MM:
Yes that's correct. MB essentially takes a very informed each way bet. As anyone with a clue would.
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.
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