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House prices to keep falling for years

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robots said:
hello,

a. things wont close when debt is getting cheaper, yes thats right debt is getting cheaper, down 1% in past couple of months and most likely more reductions to come
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Seriously.

Now that is funny.

Tell GE or GM that.

When things inflate, debt becomes relatively cheaper, when we deflate like what is happening, the opposite is true.
 

Let's hope you don't have to sell either of your two assets during a deep recession. You just never know, do you? You might get a big, sad surprise if that comes to pass.

For all we and you know, you just might be squatting in the future Balmoral Down Slopes...

So, I hope for your sake, you aren't forced to sell in the short to medium/long term into a dead RE market.

Keep well Rob-it.

 
thanks for that insight ROE!

Hey thanks for the insight on your position too Robots. I now realise you aren't much different from th rest of us commoners

Though as for "Sun is shining ,kids are in the streets..." not sure I can agree sorry.My girlfriend and I cant afford a house in Brisbane,therefore cant really afford to have those kids in the street.And I think thats becoming a familiar story amongest people even younger than myself.

Not sure of your age,but perhaps when I was enjoying my youth with cars and girls, you were investing in property? Or recieved a leg up from your family to get started.

Perhaps another negative/positive, with the Aussie falling will this bring more foreign investment in RE?

Personaly i hope not.
 
hello,

fantastic discussion so far tonite,

last time I checked my bank statement the interest rate has dropped 1% yes thats right 1%,

with indications more drops on way, fantastic for holders of the humble house or unit,

thankyou
robots
 
With retired Australians now running out of money the next step will be to sell up for any price putting more houses on the market. GM and Ford in USA must just about ready to fold for good. Some of China's steel mills have stopped working more Aussies out of work soon selling up their houses putting more on the market. ABC 4 corners will give you an insight why you don't own a house unless you think they will keep going up in OZ but not any where else in the World and have never increased in price unless its replacement cost driving them up.
Owning a house and finding a buyer are not even on the same page.
 

hello,

thanks GoNuke, thats right much like all the other commoners around

never owned new car, 15yr old push bike with 21 gears, same Stussy t-shirts from 17 yrs ago (good quality back then),

just saved and saved from an early age, everybody different and very much accepted,

nothing wrong with renting man just save the difference,

thankyou
robots
 
Errr ... we all know robots is lieing about living on balmoral slopes right?

He lives in a 50sqm unit in st kilda. Those cramped conditions, and the pushbike, are the sort of sacrifices the average joe needs to make to own a second unit.

He would be better off with one property or none but he doesnt want to admit the losses on his properties.

Worse still he is fast approacing negative equity on at least on property.

So the old "me thinks he dost protest too much" very much applies in this case.

Ill now turn you back to the spam but I thought it important to clear up the lies.

Look at the facts, ignore the liars and spruikers, and take your time as it is usually the biggest investment/purchase you will make.

Especially with prices falling and credit demand falls pointing to further falls.
 
hello,

yes good advice Token Multimillionaire,

many can really use the info in your posts, a fine contributor and I hope the day has brought you and your family much happiness

thankyou
robots
 
hello,

woo hoo, just got home from sipping latte's on chapel st (ps. i hope thats okay with pepperoni)

what a day, beautiful 25 degrees

express delivery, check this:

http://www.reiv.com.au/home/inside.asp?ID=142&pnav=141

results in line with stable market, yes I will repeat a stable market

great results, any questions fire away

thankyou
robots
 
Right...

So when homes are reported to be flooding the market here in Perth, with people likely to be laid off from BHP in the coming weeks, it's all well and good?
 
hello,

what a participant, every night the participation has been fantastic from chops,

A: good time to clear out some dead wood, I just hope people have saved some money, many posts over the past 12-18mths I have been "encouraging" people to save and save

20-30% of gross income is good start on savings plan,

thankyou
robots
 
I thought there was a chance folks in Sydney might have got a bit spooked by last weeks events - seems not! Auction clearance rate a quite reasonable 55% on good volume (150 properties sold): http://www.homepriceguide.com.au/saturday_auction_results/sydney_domain.pdf.

I was out looking in the $1.5M-ish price ranges on the North Shore and I was far from alone - LOT's of people looking at all the same places we were. Several properties I have inspected in the last few weeks have sold now as well. Found a couple of good ones today too......

Cheers,

Beej
 
hello,

great news Beej, didnt get a chance to go walkabout as i was out doing my bit for the economy spending a few $ which will hopefully keep the jobs going,

had a great laugh over this:

http://www.abc.net.au/stateline/vic/content/2006/s2387929.htm

surely they could get a joint in Carlton , 15 in the house, $70-80 bucks each would be nothing, they all like the communal living (maybe only if its free?)

thankyou
robots
 
News reports were of auction clearance rate of 50%.

I was out - only one sale in my bunch ... weak 1.43m in northbridge rear north etc etc. Sub peak of boom price as usual and "good buying" in property denialist terms..

All other properties still sitting there some discounted almost 20% from inital asking prices. Also with a HUGE number (like another 10% properties) listed this week.

Most importantly there were far fewer people than expected. Only person at a few viewings and maybe 5 groups though a first week prime listing. To put that in context I had 30 groups through my last property first week during the good old days.

Market wont dive but stay ok for another 6 months min while specuvestor money comes off the stock market and debt suckers are drawn into slavery by promise of cheap rates (until otherwise notified over 30 years )

Also looking for rentals near train line for next contract - cheap cheap cheap as usual. Last great bargain in the world. No competition for properties and both good properties discounted (5% and 15%) due to lack of demand.

Interesting times indeed.

For me a good month with no stock market or property loss ... living in lifetime dream property for most of the year (*pinches self*) ... and another 10k gross interest.
 
What's so funny about that?

In 01 and 02 I knew heaps of students that were squatting. And it will happen again as well. Young people wont pay rent if it's outlandish.

There are a heap of homes around me, vacant from a development that hasn't been able to sell in the last 18 months, close to a Uni in Perth, that I expect to be occupied in quick time by squatters if **** hits the fan.
 
hello,

bunch of freeloaders, if they like the "cheap" communal living go and rent a joint and get all you're mates in the place,

now now, thats a lease and responsibility

joint in Carlton like similar would be around $800-1000pw, get 15 in and its cheap as isnt it, ah yes but not FREE

bludgers of others in society, no wonder the pensioners who built the best country in the world cant get an increase

thankyou
robots
 
WTF are you on about Robots?

I find that mighty offensive.

I share a house, along with most young people who don't live at home.

Our demographic have been hit probably harder than any other when it comes to this housing "boom".

And if you want to get into talk about free loading and housing, well, pensioners would be higher up on that list than youth or austudy recipients.

Especially considering pensioners generally receive more than the austudy counterparts, and seem to abjectly refuse to get into share housing.

The problem for most my age hasn't been finding a house to share, it's been finding a house that they can afford to share! Or allowing anyone under 25 to rent off them at all!!!

You clearly have no idea.
 
hello,

good cop it on the chin brother,

on the 7.30 report a fantastic segment about how pensioners are living together,

so why cant they rent a place?

great to see people recognize the boom is surviving

thankyou
robots
 
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