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Australian House Prices, Most Overvalued In World. (Read 25832 times)
Lisa Jones
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Re: Australian House Prices, Most Overvalued In World.
Reply #90 - May 21st, 2011 at 7:42pm
 
Ex Dame Pansi wrote on May 21st, 2011 at 6:34pm:
Property for investment purposes is a no-goer from this point forward, for a long time into the future.

Things change andrei, and your parents era of buying and selling houses for profit is finished, and is no longer relevant.

If you bought a property at the peak of the boom, you stand to lose considerable money, unless you bought it for a home to live in and not for investment, then you will be paying back a mortgage far more than the value of your property.

Come in the bargain hunters.



Some people don't understand the meaning of POSITION when it comes to real estate.
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If I let myself be bought then I am no longer free.

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)
 
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It_is_the_Darkness
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Re: Australian House Prices, Most Overvalued In World.
Reply #91 - May 21st, 2011 at 8:03pm
 
Quote:
...man, I miss the 70's

yeah! we didn't have much, at least not all the useless crap we have now, but what we had we made good use of.

Totally agree. Best decade for the KISS Philosophy and way of life.

Quote:
If you bought a property at the peak of the boom, you stand to lose considerable money, unless you bought it for a home to live in and not for investment, then you will be paying back a mortgage far more than the value of your property.


Just returned from two days 'holiday' down ULLADULLA way. The amount of Houses and places FOR SALE from there, through Jervis Bay and around, is astounding. I can only guess that these Owners are desperate to sell off their HOLIDAY HOMES / INVESTMENT HOMES.
...THERE IS SO MANY   Shocked

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SUCKING ON MY TITTIES, LIKE I KNOW YOU WANT TO.
 
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adelcrow
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Re: Australian House Prices, Most Overvalued In World.
Reply #92 - May 21st, 2011 at 8:12pm
 
A generation of debt junkies created the housing bubble pushed along by greedy real estate companies.
I have no sympathy for any of them.
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Go the Bunnies
 
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It_is_the_Darkness
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Re: Australian House Prices, Most Overvalued In World.
Reply #93 - May 21st, 2011 at 8:17pm
 
I agree. GREED.

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Ex Dame Pansi
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Re: Australian House Prices, Most Overvalued In World.
Reply #94 - May 22nd, 2011 at 6:48am
 
Lisa <<Some people don't understand the meaning of POSITION when it comes to real estate. >>
..............................................................

The people who bought on millionaires row/canal front on the gold coast didn't that's for sure. The prices have plummeted....you can't go wrong buying in that location said the real estate spruikers.

Did quality real estate in Ireland and America miss out on the property crash Lisa? I suppose you'll say they still made profits.
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"When the power of love overcomes the love of power, the world will know peace." Hendrix
andrei said: Great isn't it? Seeing boatloads of what is nothing more than human garbage turn up.....
 
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Ex Dame Pansi
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Re: Australian House Prices, Most Overvalued In World.
Reply #95 - May 22nd, 2011 at 9:07am
 
Budget tourists turn Noosa's Hastings Street precinct from 'boutique to bogan'


UPMARKET Noosa is being swamped by budget tourists in a trend some locals claim is changing Hastings St from boutique to bogan.

Low-cost airlines Virgin, Jetstar and Tiger are blamed for flying in hordes of cheap travellers who "bring their own packed lunch" instead of dining out.

Shopkeepers and business identities complain that Hastings St, which used to be on par with the exclusive southern suburbs of Double Bay and Toorak, is being spoiled.

As a result, the once-pricey boutiques of Hastings St have been replaced with budget chain stores and surf shops.

One shopkeeper said she was "sick to the eye teeth" of the cheap chain stores lowering the precinct's status.

Another retail landlord said the tourist strip needed shops like Versace and Tiffany & Co but that wouldn't happen while budget airlines were bringing in mark-down tourists.

"We really need Qantas to fly into the Sunshine Coast and a real five-star resort that will attract the kind of visitors we want," the landlord said.

Tourism Noosa CEO Steve Cooper said the market had shifted, with Noosa now attracting a younger demographic of budget families.

Last year the beach haven drew record visitors 920,000 domestic and 149,000 international but they had shorter stays and spent less.

"It's the lingering effects of the global financial crisis and, with the rise of the dollar, it poses a lot of problems for Noosa and Australia in how we combat that," Mr Cooper said.

High retail rents in Noosa, among the most expensive in the country, have also contributed to the ousting of small businesses by chain stores.

Noosa Chamber of Commerce president Carl Beck admitted Hastings St was becoming "just like any other street in the suburbs".

"But there's nothing we can do about it. We can't dictate who goes in or not. It's just business," he said.

New Zealand tourist Angela Byers has been visiting Noosa for six years and said the area's changing face was not so bad.

"We don't really come here for the shopping, we come here for the beach," she said.

http://www.couriermail.com.au/travel/budget-tourists-turn-noosas-hastings-street-precinct-from-boutique-to-bogan/story-e6freqwf-1226060223074

................................................................

What can I say but LOL. Ahhh!!! the bogans are taking over and multiplying.

Those same bogans will be lapping up the budget real estate in a few years.

Just goes to show that there are still a lot of people in Australia that don't have a clue about the current or future economic situation.
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"When the power of love overcomes the love of power, the world will know peace." Hendrix
andrei said: Great isn't it? Seeing boatloads of what is nothing more than human garbage turn up.....
 
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It_is_the_Darkness
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Re: Australian House Prices, Most Overvalued In World.
Reply #96 - May 22nd, 2011 at 11:37am
 
Coming from a Construction point of view. The Houses in the expensive Glen Alpine and Macquarie Links were 'quickly' built too.

I'm waiting a year for the prices to really hit rock-bottom and everything to come crashing down.

"CRASH - CRASH CRASH !!!" LET IT ALL COME CRASHING DOWN AFTER DECADES OF GREED SINCE THE 80'S.  Cool
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Andrei.Hicks
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Re: Australian House Prices, Most Overvalued In World.
Reply #97 - May 22nd, 2011 at 11:39am
 
Pansi, I really it find it both sad and annoying that you would take pleasure in families sitting on losses because of house price drops.

It's just, well, very poor form.
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Anyone who lives within their means suffers from a lack of imagination - Oscar Wilde
 
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It_is_the_Darkness
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Re: Australian House Prices, Most Overvalued In World.
Reply #98 - May 22nd, 2011 at 12:23pm
 
I don't Andrei.
Most of these 'families' used their "hard-earned" money to become PLAYERS in the Real Estate Game by buying Houses they didn't really NEED in the name of GREED. They "Gambled" you could say and it didn't pay off. They were enticed by the allure of extra $$ching-ching by the Real Estate Industry and its "Easy Money" promises: "Buy this extra House and you can Rip someone else Off and be Rich!". The only thing is, it back-fired on many (not everyone), who approached the Real Estate Game for Easy Money.
I never feel sorry for those 'families' that go for the WANTS rather than the NEEDS, especially those "poor, struggling' families" that buy things they can't afford via Loans etc.

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Sir lastnail
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Re: Australian House Prices, Most Overvalued In World.
Reply #99 - May 22nd, 2011 at 1:23pm
 
Andrei.Hicks wrote on May 22nd, 2011 at 11:39am:
Pansi, I really it find it both sad and annoying that you would take pleasure in families sitting on losses because of house price drops.

It's just, well, very poor form.


Well don't you take pride when the bubble gets inflated and people have to get ripped off more. Maybe if the media just shutup about house prices and ignored the spruikers then the frenzy wouldn't be so bad. But the media seems to pander to the realestate spruikers especially when house prices go up and they are so keen to video some real estate maggot with a hammer in his hand.
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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: Australian House Prices, Most Overvalued In World.
Reply #100 - May 22nd, 2011 at 1:27pm
 
Lisa Jones wrote on May 21st, 2011 at 7:42pm:
Ex Dame Pansi wrote on May 21st, 2011 at 6:34pm:
Property for investment purposes is a no-goer from this point forward, for a long time into the future.

Things change andrei, and your parents era of buying and selling houses for profit is finished, and is no longer relevant.

If you bought a property at the peak of the boom, you stand to lose considerable money, unless you bought it for a home to live in and not for investment, then you will be paying back a mortgage far more than the value of your property.

Come in the bargain hunters.



Some people don't understand the meaning of POSITION when it comes to real estate.


You remind me of someone who held blue chip shares before the dot com crash. Those shares were totally unrelated to the internet but  when the dot com crash came those so called 'safe' blue chip shares took a big hit as well. In total disbelief he kept hanging on to them and enduring more losses thinking that they would recover to their pre crash levels. Guess what ?? They didn't Wink The moral of the story is don't be the last one to exit the door because you can always buy again later Wink
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« Last Edit: May 22nd, 2011 at 1:41pm by Sir lastnail »  

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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Bobby.
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Re: Australian House Prices, Most Overvalued In World.
Reply #101 - May 22nd, 2011 at 1:28pm
 
Sir lastnail wrote on May 22nd, 2011 at 1:23pm:
Andrei.Hicks wrote on May 22nd, 2011 at 11:39am:
Pansi, I really it find it both sad and annoying that you would take pleasure in families sitting on losses because of house price drops.

It's just, well, very poor form.


Well don't you take pride when the bubble gets inflated and people have to get ripped off more. Maybe if the media just shutup about house prices and ignored the spruikers then the frenzy wouldn't be so bad. But the media seems to pander to the realestate spruikers especially when house prices go up and they are so keen to video some real estate maggot with a hammer in his hand.


True Nail,
& quite often they bang that hammer down for some
rotten old house full of borer.

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Sir lastnail
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Re: Australian House Prices, Most Overvalued In World.
Reply #102 - May 22nd, 2011 at 1:32pm
 
Bobby. wrote on May 22nd, 2011 at 1:28pm:
Sir lastnail wrote on May 22nd, 2011 at 1:23pm:
Andrei.Hicks wrote on May 22nd, 2011 at 11:39am:
Pansi, I really it find it both sad and annoying that you would take pleasure in families sitting on losses because of house price drops.

It's just, well, very poor form.


Well don't you take pride when the bubble gets inflated and people have to get ripped off more. Maybe if the media just shutup about house prices and ignored the spruikers then the frenzy wouldn't be so bad. But the media seems to pander to the realestate spruikers especially when house prices go up and they are so keen to video some real estate maggot with a hammer in his hand.


True Nail,
& quite often they bang that hammer down for some
rotten old house full of borer.



renovators delight Smiley LOL

It's a pity that aussies didn't put all of this money into R&D and product development instead of recycling old junk properties. We can't even get an australian built all-electric-car off the ground because all of the money is going into junk property Sad What a waste of an opportunity 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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Lisa Jones
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Re: Australian House Prices, Most Overvalued In World.
Reply #103 - May 22nd, 2011 at 1:49pm
 
Ex Dame Pansi wrote on May 22nd, 2011 at 6:48am:
Lisa <<Some people don't understand the meaning of POSITION when it comes to real estate. >>
..............................................................

The people who bought on millionaires row/canal front on the gold coast didn't that's for sure. The prices have plummeted....you can't go wrong buying in that location said the real estate spruikers.

Did quality real estate in Ireland and America miss out on the property crash Lisa? I suppose you'll say they still made profits.



1) My expertise/experience/knowledge etc pertains to the Sydney domestic real estate market.

2) The Sydney market is a good market and a big market and one can do very well if they play their cards right ie if they buy position.

3) Given 1) .. I'm not prepared to comment about other real estate markets.
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If I let myself be bought then I am no longer free.

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)
 
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Bobby.
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Re: Australian House Prices, Most Overvalued In World.
Reply #104 - May 22nd, 2011 at 1:52pm
 
Lisa Jones wrote on May 22nd, 2011 at 1:49pm:
Ex Dame Pansi wrote on May 22nd, 2011 at 6:48am:
Lisa <<Some people don't understand the meaning of POSITION when it comes to real estate. >>
..............................................................

The people who bought on millionaires row/canal front on the gold coast didn't that's for sure. The prices have plummeted....you can't go wrong buying in that location said the real estate spruikers.

Did quality real estate in Ireland and America miss out on the property crash Lisa? I suppose you'll say they still made profits.



My expertise/experience/knowledge etc pertains to the Sydney domestic real estate market. It's a good market and a big market and one can do very well if they play their cards right ie they buy position.

I'm not prepared to comment about other real estate markets.



Hi Lisa,
I know someone who didn't sell their appartment on the Gold Coast
because the price went down by 40%.
They are stuck with it until the prices go up -    one day!
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