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Property vendors laughing all the way to the bank, but buyers are despondent; Hopes dashed repeatedly as competition pushes asking prices through the roof
Topic Started: 14 Oct 2013, 11:53 AM (2,379 Views)
Kulganis
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They already have for most articles, most of the international and national news comes from Associated Press or Reuters, both of which are Content Delivery Networks for newspapers.
"If man is to survive, he will have learned to take a delight in the essential differences between men and between cultures. He will learn that differences in ideas and attitudes are a delight, part of life's exciting variety, not something to fear." - Gene Roddenberry

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skamy
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Don't Buy Now
14 Oct 2013, 01:59 PM
Ahhhh! The best of both worlds: vendor optimism and buyer pessimism.

The cost of land is strangling opportunity and our competitiveness. Yet policy makers are determined to keep it high, afraid of the damage of a correction. A few years of land-pain is nothing compared to the harm of a financialized economy, the emergence of neo-feudalism and fixing the entire burden of taxation on wages.

Fortunately, citizens can lean against this ill wind.

The multiple should be 3x relative to wages. That's what it was pre-bubble!

Posted Image

Land prices have detached from wages and revert to mean looms. This is the single worst time in 140 years to be long and geared real estate. I understand the desire of all those with tulip-mania for this speculative frenzy to go on just a little longer, but wishin’ will not make it so.

Don’t Buy Now!
Why do you tell so many lies to young people? -
House prices are still being bought at approx 3-4 times the buyers income, but that does not suit your agenda does it? You try to pass off the median wage with the median income when it is not median income earners who buy the median house ( most of the bottom 30% of income earners do not ever buy). The fact is that last year was an excellent time to buy relative to any other time in over a decade, but doom and gloomers preferred to sell young people a load of rubbish about an imaginary housing crash just around the corner. There was not one iota of economic reality that would point to such a dramatic occurrence.

This kind of gross irresponsibility has caused people to lose opportunity and young people are now ending up paying so much more for their homes. Why? because they have not been building and demand has been jamming up and now we are seeing a mad dash for property in cities like Sydney and Melbourne and there is a supply shortage. This is a direct consequence of yours and other stupid doom and gloomer's advice for young people not to buy during the GFC downturn.


Property has grown in price relative to wages and prosperity for hundreds if not thousands of years. The government will not reduce taxes on housing and as the population is growing house prices will grow. Nothing absolutely nothing has changed this fundamental market reality.

Can you not see how poor your advice has been? and how detrimental it has been to the poor people who bought into your stupid tales of fantasy cheap homes suddenly becoming available last year. They are now paying 10-20% more for the same house they could have bought earlier if they had not listened to this nonsense.

IMHO people telling young people not to buy and selling them cheap house fantasies are outright charlatans.
Definition of a doom and gloomer from 1993
The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
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doubleview
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skamy
14 Oct 2013, 08:11 PM
Why do you tell so many lies to young people? -
House prices are still being bought at approx 3-4 times the buyers income, but that does not suit your agenda does it? You try to pass off the median wage with the median income when it is not median income earners who buy the median house ( most of the bottom 30% of income earners do not ever buy). The fact is that last year was an excellent time to buy relative to any other time in over a decade, but doom and gloomers preferred to sell young people a load of rubbish about an imaginary housing crash just around the corner. There was not one iota of economic reality that would point to such a dramatic occurrence.

This kind of gross irresponsibility has caused people to lose opportunity and young people are now ending up paying so much more for their homes. Why? because they have not been building and demand has been jamming up and now we are seeing a mad dash for property in cities like Sydney and Melbourne and there is a supply shortage. This is a direct consequence of yours and other stupid doom and gloomer's advice for young people not to buy during the GFC downturn.


Property has grown in price relative to wages and prosperity for hundreds if not thousands of years. The government will not reduce taxes on housing and as the population is growing house prices will grow. Nothing absolutely nothing has changed this fundamental market reality.

Can you not see how poor your advice has been? and how detrimental it has been to the poor people who bought into your stupid tales of fantasy cheap homes suddenly becoming available last year. They are now paying 10-20% more for the same house they could have bought earlier if they had not listened to this nonsense.

IMHO people telling young people not to buy and selling them cheap house fantasies are outright charlatans.
Your like the pied piper of APF your mind is detrimental !!



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Billy Jack
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The Duke of Brisbane Town

This is horse****, plain and simple. I walk around the CBD of Brisbane Town and I ask myself a question every day friend, What ****ing Money? Money here don't exist. Back in the 60s I had friends on Wall Street making more in Christmas Bonuses than some of the "top jobs" here do in a year, 50 years later. Back then you didn't need to White Witch Whale Western Woman to be able to afford the life. You could buy a home on one income.

And besides, all them folks with them prestigious BAs and BComs are going to end up with an extra shift at the Pig & Whistle, if they're lucky. And the fancy computer science, science and engineering majors will end up working solely to make sure that the 1,000 colleagues in some third world dive doing the heavy lifting for three dollars and twenty-five cents an hour are using the correct English in their reports. And they have zero job security.

So when you speak of "money" or "young peoples' careers" or "earnings", what the heck are you on about? None of that exists friend.

Speak on it son.
Tell Billy Jack the Truth
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Fed Up!
Unregistered

There are millions of rich Chinese who are planning to buy, and if they have already bought in Australia, they are cashed-up and ready to buy more. Theoretically they could buy up every house in Australia. The only question is: at what point would the government stop them? When they own 30% of all properties here? 50% More?

There are thousands more Australians planning to use their SMSFs to buy, and the government is encouraging them to buy. Low interest rates make real estate far more attractive than any other investment, and investment advisors are steering them firmly towards property.

The government’s job is not to look after Australians at all – if it is, you certainly wouldn’t know it. One thing is for sure – no government is in favour of making housing affordable for that would mean popping the bubble, and that’s not something they are prepared to do. In fact, the government, and it doesn’t matter who is in power will do ANYTHING and EVERYTHING to keep it going, and to keep property prices going up!
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miw
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Fed Up!
14 Oct 2013, 09:52 PM
There are millions of rich Chinese who are planning to buy, and if they have already bought in Australia, they are cashed-up and ready to buy more. Theoretically they could buy up every house in Australia. The only question is: at what point would the government stop them? When they own 30% of all properties here? 50% More?

There are thousands more Australians planning to use their SMSFs to buy, and the government is encouraging them to buy. Low interest rates make real estate far more attractive than any other investment, and investment advisors are steering them firmly towards property.

The government’s job is not to look after Australians at all – if it is, you certainly wouldn’t know it. One thing is for sure – no government is in favour of making housing affordable for that would mean popping the bubble, and that’s not something they are prepared to do. In fact, the government, and it doesn’t matter who is in power will do ANYTHING and EVERYTHING to keep it going, and to keep property prices going up!
and when you get over your hysteria......

Foreign buyers are buying about 1 in 8 off-the-plan units. This is nothing new. Just the country of origin changes - in the 1990s it was Hong Kongers. Even if some portion of them don't put the dwellings on the rental market, they are buying units that otherwise would not get built, and across the whole population they are adding rental stock to the market without adding demand, which pushes down rents and hence the price of low-end existing stock.

What's more they are buying badly and will eventually lose their shirts just like all the foreign buyers before them. Hardly something to get too worried about. Well, actually, as a landlord it pisses me off because these new urban infill apartments owned by offshore owners are stiff competition and without them I'd be getting more rent.
The truth will set you free. But first, it will piss you off.
--Gloria Steinem
AREPS™
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