Why does mouse in a Australia believe Joyealicious have a supernatural.
Because it went to a Oxford?
100s the thousands went to a Oxford.
Because it worked at a Vampire Squid?
Mouse would hate a Vampire Squid,
depending on a narrative stemming from its emotion at a time.
What if Joyealcious just protect its manhole?
If unthinkable the happen,
it can jump around,
and scream,
look at the me.
I predict.
Which further galvanize adoration and bizarre faith of mouth,
Mouse not far removed from medieval,
more than like to believe.
Even if it have $99 iphone.
the wheeze is spot on here - if you read enough of this pompous popinjay you realise that he's carefully couching all of his predictions in such nebulous terms that no matter how the dice fall after a momentous economic event, he'll be able to write a big puff piece about it reminding everyone how clever he was to see it coming first.
The guy is so unashamedly vain and self interested I want to drive pins though his eyeballs every time I catch a glimpse of his fat greedy face.
"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.
He's just hedging his bets - one minute he tells everyone it's going gangbusters - the next he's predicting the end of the property world as we know it. Then once the dust settles he can always be right, Soul Torper is onto him too!
With all that aside I think we're in for a bumpy ride now - been to far too many opens lately with the agents practically begging for offers to think the markets on the way back up.
Soon as the littermail of agents spruiking 'they have too many properties selling too quickly and they need more' started filling up our mailbox - that's always the first sign things are on the skids!
They need more to sell because sale volumes and final sales values are dropping - not because they're making so much they need to buy another humvee to stash the cash in on the way back to the office after the saturday failed auction!!
I'd sit and wait out another 6-12 months - unemployment is well in the double digits and with Christmas around the corner there's going to be some miserable kids missing out this year because someone overspent on the house...
Chris Joye has been pretty good on property, he tends to stick to what he thinks will happen ( i.e. property will be supported by policy insanity) and that tends to aggravate those with strong views on what should happen (policy reform). When he does talk about what should happen he is very much consistent with the bears.
Recently he has been supportive of non bank lending for real estate but it is hard to argue with that – if they get their calls wrong it will not bring down our financial system unlike our hopeless TBTF big 4 who have inflated their mortgage book with wholesale debt.
On interest rates he has been bull hawkish and while the bull bit is dubious the hawishness is very appealing to a reasonable Bear Hawk.
Once upon a time when he wrote for Business Spectator he would regularly engage with the commenters in a constructive manner.
Of course, over on Macrobusiness they have completely misinterpreted Joye's article (or read it through their permabear prism).
They think Joye means prices could crash from current levels.
Peter pointed out that Joye actually means there is a risk of a boom/bubble developing from here, and prices could then crash from the top of this new boom.
David Llewellyn-Smith called Peter a spruiker for pointing this out. Just in case there is any doubt...
Of course, over on Macrobusiness they have completely misinterpreted Joye's article (or read it through their permabear prism).
They think Joye means prices could crash from current levels.
Peter pointed out that Joye actually means there is a risk of a boom/bubble developing from here, and prices could then crash from the top of this new boom.
David Llewellyn-Smith called Peter a spruiker for pointing this out. Just in case there is any doubt...
What you seem to be suggesting (or perhaps CJ is suggesting) is that this some kind of year zero and that some madness might be afoot that will end in tears but will only take us back to year zero.
Sounds a bit neat to me.
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
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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