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House prices to keep falling for years

Discussion in 'Business, Investment and Economics' started by Pommiegranite, Jul 13, 2008.

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  1. chops_a_must

    chops_a_must Printing My Own Money

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    Not to mention these "10 sigma" 1 in 100 year events, have happened 4 times in the last 25 years on the markets. :D
     
  2. MR.

    MR.

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    Not just Steve Keen / The 7:30 report, but every media outlet kick started the negative sentiment. For weeks the media kept on going at it. My guess (hope) some of these reporters will now start feeling the pinch from their reporting.

    Although it was going to happen anyway, the media in general did a bloody good job of kick starting the Australian property freefall.
     
  3. Naked shorts

    Naked shorts

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    They are the ones who got everyone into property in the first place. Ever remember seeing "buy this area" segments on certain current affairs shows? I know i did, I also know i laughed.
     
  4. robots

    robots hello

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  5. CamKawa

    CamKawa

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    From tonights ABC news. Looks like the number of home loans has fallen off a bit. :)
     

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  6. CamKawa

    CamKawa

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    Spot the bubble.
     

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  7. robots

    robots hello

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    hello,

    just shows me people have woken up to the US, the biggest stooge country in the world, you only have to read ASF to see all the articles about the place

    and welcome Australia, no 9mm required to go to the supermarket in Aus

    thankyou
    robots
     
  8. Vizion

    Vizion

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    Your a funny person robots, I'm a tad confused though if your not into shares why you post so much... & I just cant decide if your serious or mad :bonk:
     
  9. Temjin

    Temjin

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    We are all used to his comments, Vizion. It does make the thread a lot more interesting though. :) He really loves his own little "world".

    But it's true that this is an AUSSIE STOCK forum, not real estate. Why isn't he venturing the Somersoft forum anyway? Lots of like minded people.
     
  10. sinner

    sinner

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    I think while I personally disagree with a lot of what robots says, to me it is more valuable to have available an opposite view to your own rather than everyone having the same view.

    This is the house prices thread, not the stock prices thread.

    Keep it coming robots, you're the property bull we love to hate :p:
     
  11. ROE

    ROE

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    How dare you suggest robots buy share, shares goes up and down, property goes up forever .. :D
     
  12. Beej

    Beej

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    It's funny though how you state that the "number of home loans have FALLEN off a bit", when in fact what this chart tells you is that the RATE OF GROWTH of home loans (total value) has slowed - and yet is STILL GROWING. Ergo, there is still more total cash out there for housing purchases this year, than there was last year, and the same will apply next year etc....

    Cheers,

    Beej
     
  13. Pommiegranite

    Pommiegranite

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  14. Glen48

    Glen48 Money can't buy Poverty

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    I see in that article BHP shares were 15 pounds same as to days $30.00.
     
  15. professor_frink

    professor_frink Moderator

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    Is there a point to that comment?
     
  16. Pommiegranite

    Pommiegranite

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    Its irrelevent unless we know how many shares were on issue back then.
     
  17. IFocus

    IFocus You are arguing with a Galah

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  18. Beej

    Beej

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    The statistics presented in this article for October mirror exactly what I saw out there actually looking + selling and buying during Oct/Nov.

    FYI - I'm looking at a unit in Sydney at the moment in a blue chip area close to harbour, CBD etc that is currently providing a NET (after costs) rental return of 5%. Given that there are fixed rates currently available at 4.99% (which from Dec I reckon you would be able to lock in for 3+ years), that means I could finance it 100% and be neutrally geared from day one. As rents increase it will turn quickly into a source of positive cashflow, with $0 up front capital invested by me. Plus being in a blue chip area of Sydney, I still believe that the long term capital growth prospects would be very good - at an absolute minimum inflation plus a bit, and at best a lot more than that. These are the sorts of opportunities that are out there RIGHT NOW if you get out and look - and given those numbers, I really can't see this situation lasting for too much longer.....

    Cheers,

    Beej
     
  19. IFocus

    IFocus You are arguing with a Galah

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    I think the risk is still to the down side in housing prices in some if not most sectors given we are yet to see the slowing world economy effects to fully flow into the Oz economy particularly rising unemployment.

    This is more a realization for 2009 and maybe flowing into 2010.

    The rapid fall in interest rates is also a guide to how nasty the RBA sees the future outlook and if they go for 1% next Tuesday then that's panic mode and IMHO time for risk aversion not risk seeking.

    I think bigger opportunities will come up in 2009 / 10 and that there will be plenty of time to sort through them.

    I just cannot see a driver for a rapid recovery which will primary need to be a freeing up of easy credit if any thing credit is likely to have a tighter set of regulations steming easey flow and limiting rapid credit expansion.

    Guess as always we will just have to wait and see.
     
  20. IFocus

    IFocus You are arguing with a Galah

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    I guy I know is trying to sell his property in one of the Rockingham areas here in WA and last week the paper advertised it by mistake a $100K less than the asking price.

    He had already dropped the price significantly before this

    There was not one inquiry.
     
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