Y'all may not believe me but there's been a brain drain happening from our fine country for many years now. Sure people like me come here later in life to live The Life here in the Greatest Retirement Village In The World, Brisbane Town.
But them young folks with their fancy degrees go to many places, in the English speaking countries and in the other language speaking countries.
And when the country fills up with more Aspie Cholos Driving Utes and Chasing The Big Daddy I Own Property-You Don't Dreams, from third world countries like China, India, England and NZ, who all think they can become millionaires by owning property, then them young folks with the fancy degrees, passports and the like will just leave in greater numbers and get married OS rather than Be At The Mercy of Bogans Who Think They'll Be Millionaires Through Property.
And that makes Billy Jack sad friends.
Guest
24 Oct 2013, 07:32 PM
If you don't have experience doing this you may not understand what he's talking about which is our brain drain
Exactly friend.
Except this brain drain is different.
It's Brain Drain 2.0
Y'all have children who would rather Eat Dirt than Be at the Mercy of Bogans Who'll Think They'll Be Millionaires Through Property.
They'll just boycott this fine country.
And then y'all will have neighbours from the Third World.
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.
Obviously, the Mahattan / Japan comparison is a case of the extreme.
but if we head into a period of 20-30% annualised growth as Shadow has suggested (as well as suggesting there will be a pullback too), then Sydney will become more like Manhattan ie, severely unaffordable and well known for its high rents. An increased renting class. If you don't feel Manhattan is an adequate comparison, change the city, my point remains the same.
if we go to the other extreme, then we have Japan style deflation which is generally what you get in a depression (respected commentators like Rickards have been saying for a while that the US is 6 years into a depression despite how it is dressed up as a recovery).
my personal opinion is what it is: implicitly re engineering a property boom is dangerous and I have no idea of the outcome.
Obviously, the Mahattan / Japan comparison is a case of the extreme.
but if we head into a period of 20-30% annualised growth as Shadow has suggested (as well as suggesting there will be a pullback too), then Sydney will become more like Manhattan ie, severely unaffordable and well known for its high rents. An increased renting class. If you don't feel Manhattan is an adequate comparison, change the city, my point remains the same.
if we go to the other extreme, then we have Japan style deflation which is generally what you get in a depression (respected commentators like Rickards have been saying for a while that the US is 6 years into a depression despite how it is dressed up as a recovery).
my personal opinion is what it is: implicitly re engineering a property boom is dangerous and I have no idea of the outcome.
If we go to 100% annualized growth Sydney will become nothing like Manhattan, which is actually a real city with real infrastructure and a world city that makes Sydney look like an overpriced slum albeit with a nice harbor. It's going to look more like London, but without the South Asians, with the East Asians instead. It won't look like Japan either, because in Japan they actually have infrastructure and they manufacture.
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.
Translation: its different here.
There is always a reason why its different.
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
"Horseshit degrees" "Not much IQ needed to get one" "Anyone with a pulse who can sign a loan application can get one" "They are throwin them degrees at anyone"
Obviously those degrees are neither fancy nor could there be a "brain drain" happening as you claim. Quite the opposite in fact.
BUT - apparently we are letting dumb fuckers in - look at you as an example.
Ignore posts by The Whole Truth · View Post · End Ignoring The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
Angry frank at it again, I will have to find another yapping dog picture and assign it to you, a mongrel breed of course. BTW my gold is still up over 40% since I bought it so all your talk of it crashing lower never amounted to anything.
Shadow was hopelessly wrong about the Gold Bull Market. What else is he wrong about?
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.
Timo You are very nasty for trying to insinuate that I'm a prostitute.
All you seem to do is rant your extremist views . If you don't have the desire to invest wisely that's your perogative.
The Aussies sure do have the hots for debt, the question each person honestly must ask is are they realistic to manage it?
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.
Ignore posts by The Whole Truth · View Post · End Ignoring The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
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