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A Property Market Crash Looms - Scott Pape - The Barefoot Investor; Pointing out the obvious to ignorant Aussie property zombies
Topic Started: 22 Oct 2013, 04:51 AM (14,479 Views)
Billy Jack
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The Duke of Brisbane Town

Veritas
23 Oct 2013, 12:48 PM
Yes I worship them. Groan.

Let me put it this way: someone has to jam your message that "everything is as it should be" because its patently absurd.

BTW, saw some comment on a comments page posting bull spruik under a Macrobusiness avatar, was that you or Strindberg?

http://www.theguardian.com/commentisfree/2013/oct/22/australia-property-house-prices

Australia's house prices are running out of control

If we're not careful, Melbourne and Sydney will become like London and Paris – places where the international super-rich grow their money while ordinary residents are priced out


Or we have a massive crash. Either way, calling this normal or desireable or all part of the cycle is absurd and offensive.
Friend, it's obvious.

See my post about Generation Tent.

Them young folks will not stay around for this. They have them fancy degrees, can travel and live in other countries speaking the English. Unlike most of y'all here, they can marry overseas.

Get ready for more to leave. Soon even our BA graduates will leave, as 1. the only jerb they get here is an extra shift at the Pig & Whistle and 2. they'll never be able to afford a house here anywhere they want to live and 3. they can live in a city with great transport and a 5+ Million population and pay half the rent in any number of places in this Small World In Which We Live or with roads and infrastructure where they can actually ride a Vespa and other stuff Gen X / Yers like without gettin' run over.

But y'all sound like y'all will be happy with your new neighbours, who will all come from the Wilds of Asia and I'm sure they'll be just as good as a replacement for them folks whose families have lived in our fine country for 100+ years.
Tell Billy Jack the Truth
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Pig Iron
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Bogan scum

Billy Jack
24 Oct 2013, 09:48 AM
Friend, it's obvious.

See my post about Generation Tent.

Them young folks will not stay around for this. They have them fancy degrees, can travel and live in other countries speaking the English. Unlike most of y'all here, they can marry overseas.

Get ready for more to leave. Soon even our BA graduates will leave, as 1. the only jerb they get here is an extra shift at the Pig & Whistle and 2. they'll never be able to afford a house here anywhere they want to live and 3. they can live in a city with great transport and a 5+ Million population and pay half the rent in any number of places in this Small World In Which We Live or with roads and infrastructure where they can actually ride a Vespa and other stuff Gen X / Yers like without gettin' run over.

But y'all sound like y'all will be happy with your new neighbours, who will all come from the Wilds of Asia and I'm sure they'll be just as good as a replacement for them folks whose families have lived in our fine country for 100+ years.
so which english speaking country are they going to all go to which is better off than australia? the USA? nope they are the root of the world economic issues. the uk? nope they are in worse shape than us. europe? well most of them aren't english speaking but since you are an obvious racist you probably don't really care as long as they are white, but europe is still in more trouble than us.

you have it all backwards, australia is THE haven of the anglo sphere.
I am the love child of Tony Abbott and Pauline Hanson
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loz
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Pig Iron
24 Oct 2013, 03:47 PM
so which english speaking country are they going to all go to which is better off than australia? the USA? nope they are the root of the world economic issues. the uk? nope they are in worse shape than us. europe? well most of them aren't english speaking but since you are an obvious racist you probably don't really care as long as they are white, but europe is still in more trouble than us.

you have it all backwards, australia is THE haven of the anglo sphere.
Have to agree, Australia is an attractive spot for many. Ive noticed a big rise in Europeans emigrating. Irish, UK, French, Italian.And if it isnt permanent, many are using the working holiday visa to get a year or two over here where the economy is still churning. Massive rises in rental prices is evident especially in the tourism hubs like bondi on Sydneys eastern beaches as a result of this.

I also think Shadow might just be right. I see it this way at the moment- trillions have been invested in this 'recovery' around the world, there is no way any of the govts / banks running their respective economies are gonna go down without a fight. Yellen is Fed Head. Abe is Yen crazy, Cameron and Osbourne have 'Help to Buy ("sell"). Whether they can defeat what Rickards calls an ongoing depression (what others call a recession), remains to be seen.

If the hot money is pushing into housing worldwide then its gonna ramp up but how long can it last?

Should we call Japan or are we the new Manhattan?
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Pig Iron
24 Oct 2013, 03:47 PM
so which english speaking country are they going to all go to which is better off than australia? the USA? nope they are the root of the world economic issues. the uk? nope they are in worse shape than us. europe? well most of them aren't english speaking but since you are an obvious racist you probably don't really care as long as they are white, but europe is still in more trouble than us.

you have it all backwards, australia is THE haven of the anglo sphere.
I think you could be missing the point as he's referring to other places. If you don't have experience doing this you may not understand what he's talking about which is our brain drain. He could be right about "Aspie Cholos" because an "Aspie Cholo" LOL wouldn't understand what this is. And racist? There's nothing racist about saying this is there?
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loz
24 Oct 2013, 05:29 PM
Should we call Japan or are we the new Manhattan?
LOL Hilarious. We are nothing like Manhattan. We're something more like a country of gamblers and real estate is our game. It's about time we recognised this and understood the problems with putting all the chips onto one game.
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b_b
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24 Oct 2013, 09:00 PM
LOL Hilarious. We are nothing like Manhattan. We're something more like a country of gamblers and real estate is our game. It's about time we recognised this and understood the problems with putting all the chips onto one game.
Sydney is not like Manhattan, just like Australia is not like the USA / Spain / Ireland etc.

It is this type of lazy comparison which has fathered many embarrassing bubble predictions.

Each market has its own separate set of drivers.
(S – I) + (T - G) + (M - X) = 0
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Timo
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Blondie girl
22 Oct 2013, 09:36 PM
Some of these analysts really get paid to dribble shit.

Then you've got the other extreme of property seminar exploitation promoting their almost evangelist like crap that property investing is always hunky dory.

Timo

If you really think a crash is coming you are truly off your face....
Your face is coming off, time to re-apply before next "client", the crash and damage housing is doing to Australia is plain to see, unlike the a symptomatic venereals you carry.
After a bubble has burst, no one denies that it existed. But before it does, the popular refrain is that though bubbles existed elsewhere in the world, “there’s no bubble here”. So housing bubbles are admitted to have existed in Japan, the USA, Spain and Ireland – because they’ve already burst.
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Pig Iron
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Bogan scum

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24 Oct 2013, 07:32 PM
I think you could be missing the point as he's referring to other places. If you don't have experience doing this you may not understand what he's talking about which is our brain drain. He could be right about "Aspie Cholos" because an "Aspie Cholo" LOL wouldn't understand what this is. And racist? There's nothing racist about saying this is there?
you are a case of needing to read before shooting off your mouth.
I am the love child of Tony Abbott and Pauline Hanson
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Timo
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Pig Iron
24 Oct 2013, 10:30 PM
you are a case of needing to read before shooting off your mouth.
Your a good case for better contraception
After a bubble has burst, no one denies that it existed. But before it does, the popular refrain is that though bubbles existed elsewhere in the world, “there’s no bubble here”. So housing bubbles are admitted to have existed in Japan, the USA, Spain and Ireland – because they’ve already burst.
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miw
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Timo
25 Oct 2013, 12:52 AM
Your a good case for better contraception
Can you give me the link to your web page of 1970s insults? I'm feeling kinda nostalgic.
The truth will set you free. But first, it will piss you off.
--Gloria Steinem
AREPS™
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