Australian Politics Forum - Worst slump in two years hits house auctions !!

hawil

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Re: Worst slump in two years hits house auctions !!
Reply #15 - Nov 15^th, 2010 at 7:35pm

ail you've not read how many properties are being sold to foreigners?? prices will not fall until that is removed from the equation, you can rant and rave all you want but property has doubled in price every 10 years since 1900s.

Today and tomorrow is no different.

You need to find another topic, preferably one you have a clue about.

Where did you get the data to support your claim that house prices double every 10 years?
I know of times that the property prices did more than double in 10 years, the late 70's, but at that time the wages of labour increased even more.

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laborfornever Senior Member Offline Australian Politics Posts: 345	Re: Worst slump in two years hits house auctions !! Reply #16 - Nov 15^th, 2010 at 7:40pm I've worked in the banking industry for 30 years and have been a mortgage broker for 6 years, I know more about the property market than everyone here combined, now run along and do some research.
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Verge Gold Member Offline Australian Politics Posts: 6329 Gender:	Re: Worst slump in two years hits house auctions !! Reply #17 - Nov 15^th, 2010 at 9:27pm Here is Last "Chicken Little" Nail again, telling us all the sky is falling. You have been telling me that for years Nail yet Im still making money out of it.
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Sir lastnail

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Re: Worst slump in two years hits house auctions !!
Reply #18 - Nov 16^th, 2010 at 10:25am

laborfornever wrote on Nov 15^th, 2010 at 7:40pm:

I've worked in the banking industry for 30 years and have been a mortgage broker for 6 years, I know more about the property market than everyone here combined, now run along and do some research.

Yeh right, then why the need for the first home buyers scam ??

what is the payoff to the first home buyer ?? or is it really a payoff to real estate agents and mortgage brokers and the rest of blood sucking leaches that can't make a dollar unless there is a scam behind it Sad

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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.

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Sir lastnail

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Re: Worst slump in two years hits house auctions !!
Reply #19 - Nov 16^th, 2010 at 10:32am

Verge wrote on Nov 15^th, 2010 at 9:27pm:

Here is Last "Chicken Little" Nail again, telling us all the sky is falling.

You have been telling me that for years Nail yet Im still making money out of it.

is that you making money with or without the first home buyers scam to keep the bubble inflated ??

Poor old Verge expects first home buyers to borrow way beyond their means to buy his overinflated properties but is the first one to cry foul when low income workers demand a fair pay rise so they can pay off their overinflated mortgage debts Wink

Yes its alright when easy money is being funneled into your pockets without worrying about the consequences of how it has to be payed back Sad

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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.

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Verge

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Re: Worst slump in two years hits house auctions !!
Reply #20 - Nov 16^th, 2010 at 10:57am

Sir lastnail wrote on Nov 16^th, 2010 at 10:32am:

Verge wrote on Nov 15^th, 2010 at 9:27pm:

Here is Last "Chicken Little" Nail again, telling us all the sky is falling.

You have been telling me that for years Nail yet Im still making money out of it.

is that you making money with or without the first home buyers scam to keep the bubble inflated ??

Poor old Verge expects first home buyers to borrow way beyond their means to buy his overinflated properties but is the first one to cry foul when low income workers demand a fair pay rise so they can pay off their overinflated mortgage debts Wink

Yes its alright when easy money is being funneled into your pockets without worrying about the consequences of how it has to be payed back Sad

Firstly, I dont have a problem with giving low income workers a boost. I do however expect people to justify boosts over and above inflation which I think is fair.

My theory on people borrowing goes back to what my father taught me, 3 to 3.5 times your pre tax income, and only on the income of the breadwinner.

Its for this reason I have done well, I havent over extended myself and have made property inprovements for relative low costs which have resulted in large price jumps. The joys of being someone who is determined to spend his weekends busy building (which might very well change with the arrival of bub very shortly).

I have no sympathy for first home buyers who want it all straight up and bury themselves to do it. Its stupidity and their egos need to be brought into check. Who needs 4 bedrooms, study, 3 living areas and a double garage on two stories for their first home and no kids in sight.

Even though you blame the government, the reality is people need to take personal responsibility for their financial wellbeing.

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Sir lastnail

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Re: Worst slump in two years hits house auctions !!
Reply #21 - Nov 16^th, 2010 at 11:17am

Verge wrote on Nov 16^th, 2010 at 10:57am:

Sir lastnail wrote on Nov 16^th, 2010 at 10:32am:

Verge wrote on Nov 15^th, 2010 at 9:27pm:

Here is Last "Chicken Little" Nail again, telling us all the sky is falling.

You have been telling me that for years Nail yet Im still making money out of it.

is that you making money with or without the first home buyers scam to keep the bubble inflated ??

Poor old Verge expects first home buyers to borrow way beyond their means to buy his overinflated properties but is the first one to cry foul when low income workers demand a fair pay rise so they can pay off their overinflated mortgage debts Wink

Yes its alright when easy money is being funneled into your pockets without worrying about the consequences of how it has to be payed back Sad

Firstly, I dont have a problem with giving low income workers a boost. I do however expect people to justify boosts over and above inflation which I think is fair.

My theory on people borrowing goes back to what my father taught me, 3 to 3.5 times your pre tax income, and only on the income of the breadwinner.

Its for this reason I have done well, I havent over extended myself and have made property inprovements for relative low costs which have resulted in large price jumps. The joys of being someone who is determined to spend his weekends busy building (which might very well change with the arrival of bub very shortly).

I have no sympathy for first home buyers who want it all straight up and bury themselves to do it. Its stupidity and their egos need to be brought into check. Who needs 4 bedrooms, study, 3 living areas and a double garage on two stories for their first home and no kids in sight.

Even though you blame the government, the reality is people need to take personal responsibility for their financial wellbeing.

You have only done well out of chiseling off other people who don't abide by your fathers advice. Who did you sell your last house to ?? Was it one of those first home buyers that you have no sympathy for ?? If it was do you still think you have done well at the expense of someone else's financial misery ??

You expect to reap the benefit from people who have been conned into the euphoria of a Government induced property bubbled but at the same time you are completely dismissive of the punters who have borrowed way beyond their means just so they can feed leaches like yourself Sad

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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.

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culldav

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Re: Worst slump in two years hits house auctions !!
Reply #22 - Nov 16^th, 2010 at 11:32am

I think there is justification for criticizing some people want the 4 bedrooms, 2 bathrooms and 2 car garage before they can really afford it. On the other hand, there is a situation in Australia whereby there is a massive housing shortage of nearly 500,000 homes and around 300,000 unit/flats. The real estate institute released these figures to the governments around 18 months ago. There is also a public housing/unit shortage of around 1.2 million. I feel the $500 million Gillard pledged to Indonesia for schools would have been better spent on building public housing here in Australia.

There is definitely a lack of land release in Australia and I believe this is fuelling the housing bubble in Australia which will burst sooner or later.

In January 2010 a home in our area was on the market for sale at $349,000. In August 2010 the same came back on the market at $399,000. That a $50,000 increase in 7 months. There doesn’t seem to be any justification in that kind of a an increase.

Wages in Australia have also not kept pace with the cost of housing.

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BigOl64

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Re: Worst slump in two years hits house auctions !!
Reply #23 - Nov 16^th, 2010 at 11:33am

This is not the worst slump in 200 years or the worst in 20 years, this is the worst slump 2 years.

Quick, abandon your homes everyone and head for the hills, it's the financial armageddon that was foretold in the Book of Revelation.

And loe the Grinning Agent shall smile and tell ye that your home is still not worth more than what someone is willing to pay for it. There was much wailing and gnashing of teeth among the property owners for they had been kidding themselves after watching too much reality TV.

But as the saviour promised, soon will cometh the recovery and thy homes shall still be worth what someone is willing to pay for them as it was before and will again.

All hail the recovery and Better Homes and Gardens for they are the true prophets of home ownership.

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culldav Gold Member Offline Australian Politics Posts: 2020	Re: Worst slump in two years hits house auctions !! Reply #24 - Nov 16^th, 2010 at 11:56am Even though the theory of the Egyptian Pharaohs has proven to be incorrect, there are still morons out there still believing they can take it all with them when they finally check out.
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Verge

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Re: Worst slump in two years hits house auctions !!
Reply #25 - Nov 16^th, 2010 at 12:03pm

culldav wrote on Nov 16^th, 2010 at 11:32am:

I think there is justification for criticizing some people want the 4 bedrooms, 2 bathrooms and 2 car garage before they can really afford it. On the other hand, there is a situation in Australia whereby there is a massive housing shortage of nearly 500,000 homes and around 300,000 unit/flats. The real estate institute released these figures to the governments around 18 months ago. There is also a public housing/unit shortage of around 1.2 million. I feel the $500 million Gillard pledged to Indonesia for schools would have been better spent on building public housing here in Australia.

There is definitely a lack of land release in Australia and I believe this is fuelling the housing bubble in Australia which will burst sooner or later.

In January 2010 a home in our area was on the market for sale at $349,000. In August 2010 the same came back on the market at $399,000. That a $50,000 increase in 7 months. There doesn’t seem to be any justification in that kind of a an increase.Wages in Australia have also not kept pace with the cost of housing.

What you have quote is simply someone who is dreaming.

People need to look objectively at property. For example, if the building is worth $200k, fencing $5k, Garden $20k and Shed $10k that leaves a land value of $114k. No peice of dirt can go up 43% in 7 months unless something amazing happens like a new mine or a massive manufacturing company locating there.

Because the costs of building, fencing etc are still there.

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And why not, if you will permit me; why shouldn’t I, if you will permit me; spend my first week as prime minister, should that happen, on this, on your, country - Abbott with the Garma People Aug 13

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Verge

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Re: Worst slump in two years hits house auctions !!
Reply #26 - Nov 16^th, 2010 at 12:03pm

culldav wrote on Nov 16^th, 2010 at 11:56am:

Even though the theory of the Egyptian Pharaohs has proven to be incorrect, there are still morons out there still believing they can take it all with them when they finally check out.

I just want to be debt free by my 35th birthday, nothing wrong with that.

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And why not, if you will permit me; why shouldn’t I, if you will permit me; spend my first week as prime minister, should that happen, on this, on your, country - Abbott with the Garma People Aug 13

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Sir lastnail

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Re: Worst slump in two years hits house auctions !!
Reply #27 - Nov 16^th, 2010 at 12:37pm

Verge wrote on Nov 16^th, 2010 at 12:03pm:

culldav wrote on Nov 16^th, 2010 at 11:32am:

I think there is justification for criticizing some people want the 4 bedrooms, 2 bathrooms and 2 car garage before they can really afford it. On the other hand, there is a situation in Australia whereby there is a massive housing shortage of nearly 500,000 homes and around 300,000 unit/flats. The real estate institute released these figures to the governments around 18 months ago. There is also a public housing/unit shortage of around 1.2 million. I feel the $500 million Gillard pledged to Indonesia for schools would have been better spent on building public housing here in Australia.

There is definitely a lack of land release in Australia and I believe this is fuelling the housing bubble in Australia which will burst sooner or later.

In January 2010 a home in our area was on the market for sale at $349,000. In August 2010 the same came back on the market at $399,000. That a $50,000 increase in 7 months. There doesn’t seem to be any justification in that kind of a an increase.Wages in Australia have also not kept pace with the cost of housing.

What you have quote is simply someone who is dreaming.

People need to look objectively at property. For example, if the building is worth $200k, fencing $5k, Garden $20k and Shed $10k that leaves a land value of $114k. No peice of dirt can go up 43% in 7 months unless something amazing happens like a new mine or a massive manufacturing company locating there.

Because the costs of building, fencing etc are still there.

Thanks to the Government induced property bubble and the REIV repeatedly talking about property hot spots in the media and the next big boom suburb this is what has been happening Sad

Don't miss out - buy before house prices double in the next 6 months !!

Where are the property hot spots now ? Where is the REIV to pump it up on Today Tonight ??

No mention in the Herald Sun except a slump. How times change quickly Wink

Just like Joesph Goebels said if you tell the same lie enough times people believe it as the truth Wink

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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.

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Sir lastnail

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Re: Worst slump in two years hits house auctions !!
Reply #28 - Nov 16^th, 2010 at 12:39pm

Verge wrote on Nov 16^th, 2010 at 12:03pm:

culldav wrote on Nov 16^th, 2010 at 11:56am:

Even though the theory of the Egyptian Pharaohs has proven to be incorrect, there are still morons out there still believing they can take it all with them when they finally check out.

I just want to be debt free by my 35th birthday, nothing wrong with that.

Yes you want to be debt free at the expense of other people going into more debt. That's what happens in a property bubble Sad

Where does it stop ?

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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.

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Verge

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Re: Worst slump in two years hits house auctions !!
Reply #29 - Nov 16^th, 2010 at 2:18pm

Sir lastnail wrote on Nov 16^th, 2010 at 12:39pm:

Verge wrote on Nov 16^th, 2010 at 12:03pm:

culldav wrote on Nov 16^th, 2010 at 11:56am:

Even though the theory of the Egyptian Pharaohs has proven to be incorrect, there are still morons out there still believing they can take it all with them when they finally check out.

I just want to be debt free by my 35th birthday, nothing wrong with that.

Yes you want to be debt free at the expense of other people going into more debt. That's what happens in a property bubble Sad

Where does it stop ?

My responsibilites lie soley with my wife and soon to be child above all else, then my family, then friends.

Call me selfish, but to be honest I can sleep at night with decisions I have made. I have never ripped anyone off and anyone who has bought from me did so with no pressure. They seen value in what I have sold.

If someone wants first off what took me 10 years to achieve, thats their problem, not mine.

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And why not, if you will permit me; why shouldn’t I, if you will permit me; spend my first week as prime minister, should that happen, on this, on your, country - Abbott with the Garma People Aug 13

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