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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. nunthewiser

    nunthewiser

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    Unemployment will not peak for at least 2 years yet

    but what do i care i am from nirvana and petty things like this worry me not :)
     
  2. Trembling Hand

    Trembling Hand Can be found on the bid

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    Robots don't you live in St Kilda road?
     
  3. robots

    robots hello

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    hello,

    chapel st, in a part of st kilda called St Kilda Hill

    near st michael's grammar school

    thankyou
    robots
     
  4. Trembling Hand

    Trembling Hand Can be found on the bid

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    LOL. St Kilda East!!

    Hardly St K proper.

    And pretty sure anything over Brighton road is not considered the real St K.

    LOL
     
  5. robots

    robots hello

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    hello,

    no st kilda, 3182 not 3183 like st kilda east

    http://www.astor-theatre.com/

    gee the astor has the same problem as me, also thinks its in St Kilda


    thankyou
    robots
     
  6. MrBurns

    MrBurns

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    I don't hear that very often, thanks Glen48:D
     
  7. basilio

    basilio

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    Australia is not America but to a significant extent our boom in borrowing to buy/build/renovate houses has followed the yanks.

    So where are they now? Washington Post has an excellent analysis of how much trouble homeowners are in America. It's not the sub prime its everyone who has upgraded or bought or borrowed in the last 6 years. Doesn't leave many people out.

    Implications for America are horrendous. We will have a knock on effect and of course we have our own overhang of consumer debt which can't be sustained.
    http://www.washingtonpost.com/wp-dyn/content/article/2009/01/16/AR2009011604724.html
     
  8. ROE

    ROE

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    Party is over, easy day are over..people need to understand money a little bit better...when you generate negative cash flow and you still want to buy and buy now they need to go back to accounting 101 and understand what is a cash flow statement and what a -ve cash flow will do to you in a long run :)

    Road runner run out of puff like that articles
     
  9. Glen48

    Glen48 Money can't buy Poverty

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    The Yanks have now spent enough bail out money to give every one in the World $1,000.00 which is what they should have done in the first place.
     
  10. robots

    robots hello

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    hello,

    good suggestion Glen48,

    help out those putting in on the planet

    thankyou
    robots
     
  11. explod

    explod explod

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    In dire need of your help now Robots, the call is out all along the eastern coastline, cant sell thier wonderfull properties (investment and holiday ones, can you believe it)

    So with all your profits growing in Sti Kilda now is the opportunity for you to branch out into some luxury along the coast. And no one can say that you do not deserve such a great break.

    So go for it and become really rich. And if you need some fast help, Aussie home loans are reducing the credit card down to 9.9%

    Yeeeeeeeee Haaaaaaaaaaaaaaaaarrrrrrrrrrrr

    thankyou
    explod
     
  12. robots

    robots hello

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    hello,

    surely the Government should be helping though Explod, yeah I agree i do deserve it along with all the others keeping the economy going, without us it would be in total dire straits

    get a beach house grant going or bump up the investor concessions I think

    i will write a letter to Kevin 07 with some of the fine suggestions

    thankyou
    robots
     
  13. Glen48

    Glen48 Money can't buy Poverty

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    Robots,
    Noosa: tonight Ch 7 they did a story a couple whho could not sell their house ( AKA Mill stone ) so they dropped the price 800K still no lookers so maybe Robots you could offer advice on were they are going wrong.
     
  14. overlap

    overlap

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    Easy, the house is not in St Kilda.

    Move it. Problem solved.
     
  15. Pommiegranite

    Pommiegranite

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    Very good point Roe. I've been busy over the past couple of weeks helping out a friend who didn't understand the above point.

    He has had 3 properties on the market since mid December and has had only 2 offers, both of which were very very low. He has had to put them on the market as there have been redundancies at his workplace, and he now fears about his own position.
     
  16. Glen48

    Glen48 Money can't buy Poverty

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    Might be a market to Tee shirts saying I survived the 2009-? Depression and start up a victims support group in every Town except St Killedher
     
  17. Pommiegranite

    Pommiegranite

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    OUCH!!!!!:DHere's a link to the research mentioned in the below report from today's 'The Age': http://www.earthsharing.org.au/wp-content/uploads/iw2lh-08-report.pdf

    I think it highlights exactly what is going on with the manipulation of rental vacancy figures. How many readers does 'The Age' have? I wonder what the true rental vacancy figure for St Kilda is?.....6% perhaps?

     
  18. ROE

    ROE

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    In business if you have -ve cash flow you classified as bankrupt but some how in RE they make it pretty and call it negative gear :D ...great financial engineering..
     
  19. Lancelot

    Lancelot

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    Buying expensive wee wee extensions that most of the population could never afford to buy always ends in pain if forced to sell in a downturn

    On the other hand , how are the average joe houses going? Stuff around $400k?
     
  20. Dowdy

    Dowdy

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    Here's one for that tool Robots,

    StKilda -
    DEC 08 $750,125
    SEP 08 $1,070,500
    % Change -29.9


    Source Herald Sun (real estate institute of victoria)


    Nice loss Robots, Well Done!:bonk:
     
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