Australian Politics Forum - House Prices Crash

longweekend58

Gold Member

Offline

Australian Politics

Posts: 45675
Gender: male

Re: House Prices Crash
Reply #180 - Mar 16^th, 2012 at 4:14pm

It_is_the_Darkness wrote on Mar 16^th, 2012 at 3:26pm:

I see your point LW and it would seem the more orthodox approach in most of the world - But Australian Housing is like USA Economics - defunct!

Job security around the country is in crises. I got screwed out of my job after I was used as an excuse to get rid of Contractors. Once they were gone - I was replaced by Koreans who use Backpacker visas to drive flashy cars and not stay in Backpacker Hostels.

Most people are not making a profit on their houses. All around the South Coast of NSW hardly any of those houses are being sold at a profit - more loss and many are not sold at all. Suddenly that house and extra houses have become an 'anchor' that is stuck at the bottom in a rough 6 metre swell.
I'm in a [For Sale] house and like 5 other houses in this Rural town street - none are being sold.

Everyone knows the Real Estate agents aren't making a boom rip-off surge like around the year 2000AD so they just potter along now on Agent fees for 'trying' to sell.

When the USA Economy crashes (because Obama's finger in the dyke won't work this time) - Australian Housing will crash. Housing in the USA is relatively cheap. The house I'm in via a similar town in the USA I could buy for 75% less.

3 doors down there is a similar 3 bedroom house selling for just $100,000, unlike the one I'm in for $180,000.
I bet you when everything does 'Crash' - the 1970's will be back !!! Wink

you may learn one day that the entire housing market is not like your street in your rural town. there are certainly depressed areas and also the exact reverse. Im living in what was a cheap area when i bough and is now very sought after and no house for sale remains unsold - period. and im not alone. you need to take the ENTIRE market into account and the result there is that after a flat couple years where prices drops have been on average 5-7%, prices are on the move upward again. just because it isnt happening in your street dont mean it isnt happening.

Back to top

AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."

IP Logged

Ex Dame Pansi

Gold Member

Offline

Australian Politics

Posts: 24168

Re: House Prices Crash
Reply #181 - Mar 16^th, 2012 at 4:19pm

<<Sounds like a work for the dole scam>> Sad

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

About as practical too. Maybe that's where the engineers at Wivenhoe dam got their certificates from.

"THREE dam engineers will be referred to the Crimes and Misconduct Commission regarding their handling of the Wivenhoe Dam following the release of the flood inquiry's final report."

Read more:

http://www.news.com.au/national/dam-engineers-referred-to-cmc-as-flood-report-ha...

Back to top

"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.....

IP Logged

Ex Dame Pansi

Gold Member

Offline

Australian Politics

Posts: 24168

Re: House Prices Crash
Reply #182 - Mar 16^th, 2012 at 4:27pm

It_is_the_Darkness wrote on Mar 16^th, 2012 at 3:26pm:

I see your point LW and it would seem the more orthodox approach in most of the world - But Australian Housing is like USA Economics - defunct!

Job security around the country is in crises. I got screwed out of my job after I was used as an excuse to get rid of Contractors. Once they were gone - I was replaced by Koreans who use Backpacker visas to drive flashy cars and not stay in Backpacker Hostels.

Most people are not making a profit on their houses. All around the South Coast of NSW hardly any of those houses are being sold at a profit - more loss and many are not sold at all. Suddenly that house and extra houses have become an 'anchor' that is stuck at the bottom in a rough 6 metre swell.
I'm in a [For Sale] house and like 5 other houses in this Rural town street - none are being sold.

Everyone knows the Real Estate agents aren't making a boom rip-off surge like around the year 2000AD so they just potter along now on Agent fees for 'trying' to sell.

When the USA Economy crashes (because Obama's finger in the dyke won't work this time) - Australian Housing will crash. Housing in the USA is relatively cheap. The house I'm in via a similar town in the USA I could buy for 75% less.

3 doors down there is a similar 3 bedroom house selling for just $100,000, unlike the one I'm in for $180,000.
I bet you when everything does 'Crash' - the 1970's will be back !!! Wink

Some people don't take into account that growth has departed, not to be seen for decades if ever. We are coming into a giant financial tsunami and those places that are selling for $100,000 today will be a lot less in a couple of years time. Hoping the government in all their wisdom (NOT) will have run out of available funds to prop up the already dead real estate market.

Investors won't bother because the rent returns won't be worth the trouble, so there should be plenty of cheapies on the market soon.

CRASH *^#!* BUST *#!<* BANG *>#!*

Back to top

"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.....

IP Logged

Sir lastnail

Gold Member

Offline

Australian Politics

Posts: 30923
Gender: male

Re: House Prices Crash
Reply #183 - Mar 16^th, 2012 at 4:29pm

longweekend58 wrote on Mar 16^th, 2012 at 4:14pm:

It_is_the_Darkness wrote on Mar 16^th, 2012 at 3:26pm:

I see your point LW and it would seem the more orthodox approach in most of the world - But Australian Housing is like USA Economics - defunct!

Job security around the country is in crises. I got screwed out of my job after I was used as an excuse to get rid of Contractors. Once they were gone - I was replaced by Koreans who use Backpacker visas to drive flashy cars and not stay in Backpacker Hostels.

Most people are not making a profit on their houses. All around the South Coast of NSW hardly any of those houses are being sold at a profit - more loss and many are not sold at all. Suddenly that house and extra houses have become an 'anchor' that is stuck at the bottom in a rough 6 metre swell.
I'm in a [For Sale] house and like 5 other houses in this Rural town street - none are being sold.

Everyone knows the Real Estate agents aren't making a boom rip-off surge like around the year 2000AD so they just potter along now on Agent fees for 'trying' to sell.

When the USA Economy crashes (because Obama's finger in the dyke won't work this time) - Australian Housing will crash. Housing in the USA is relatively cheap. The house I'm in via a similar town in the USA I could buy for 75% less.

3 doors down there is a similar 3 bedroom house selling for just $100,000, unlike the one I'm in for $180,000.
I bet you when everything does 'Crash' - the 1970's will be back !!! Wink

you may learn one day that the entire housing market is not like your street in your rural town. there are certainly depressed areas and also the exact reverse. Im living in what was a cheap area when i bough and is now very sought after and no house for sale remains unsold - period. and im not alone. you need to take the ENTIRE market into account and the result there is that after a flat couple years where prices drops have been on average 5-7%, prices are on the move upward again. just because it isnt happening in your street dont mean it isnt happening.

wait till the recession kicks in. It won't seem like the streets are paved with gold anymore Wink

Sentiment changes over time you know Wink

Remember the dot com bubble before it burst. Even the posty was giving advice on what shares to buy as though it was always going to go up indefinitely Wink

Remember what happened next !! Cheesy

LOL

Back to top

« Last Edit: Mar 16^th, 2012 at 4:43pm by Sir lastnail »

"If you take out Saddam, I guarantee you that it will have enormous positive reverberations on the region..." - Benjamin Netanyahu in 1995

IP Logged

Sir lastnail

Gold Member

Offline

Australian Politics

Posts: 30923
Gender: male

Re: House Prices Crash
Reply #184 - Mar 16^th, 2012 at 4:42pm

Ex Dame Pansi wrote on Mar 16^th, 2012 at 4:27pm:

It_is_the_Darkness wrote on Mar 16^th, 2012 at 3:26pm:

I see your point LW and it would seem the more orthodox approach in most of the world - But Australian Housing is like USA Economics - defunct!

Job security around the country is in crises. I got screwed out of my job after I was used as an excuse to get rid of Contractors. Once they were gone - I was replaced by Koreans who use Backpacker visas to drive flashy cars and not stay in Backpacker Hostels.

Most people are not making a profit on their houses. All around the South Coast of NSW hardly any of those houses are being sold at a profit - more loss and many are not sold at all. Suddenly that house and extra houses have become an 'anchor' that is stuck at the bottom in a rough 6 metre swell.
I'm in a [For Sale] house and like 5 other houses in this Rural town street - none are being sold.

Everyone knows the Real Estate agents aren't making a boom rip-off surge like around the year 2000AD so they just potter along now on Agent fees for 'trying' to sell.

When the USA Economy crashes (because Obama's finger in the dyke won't work this time) - Australian Housing will crash. Housing in the USA is relatively cheap. The house I'm in via a similar town in the USA I could buy for 75% less.

3 doors down there is a similar 3 bedroom house selling for just $100,000, unlike the one I'm in for $180,000.
I bet you when everything does 'Crash' - the 1970's will be back !!! Wink

Some people don't take into account that growth has departed, not to be seen for decades if ever. We are coming into a giant financial tsunami and those places that are selling for $100,000 today will be a lot less in a couple of years time. Hoping the government in all their wisdom (NOT) will have run out of available funds to prop up the already dead real estate market.

Investors won't bother because the rent returns won't be worth the trouble, so there should be plenty of cheapies on the market soon.

CRASH *^#!* BUST *#!<* BANG *>#!*

What madweekend conveniently ignores is that we have the lowest bank lending growth rate in 35 years. It is credit that fuels the property bubble. Without easy access to credit the bubble will deflate because there is no longer any money to pay the ridiculous prices that they have been asking.

The people who have bought recently will be the ones who suffer as the ponzi scheme collapses and there is no money to pay the higher and higher prices. Steve Keen was warning of this scenario happening. Had it not been for Dudds stimulus package reinflating the bubble what we are seeing now would have occurred three years ago when all other property markets around the world were collapsing because of the GST. Dudd just bought some time whilst making the bubble worse Sad

Back to top

"If you take out Saddam, I guarantee you that it will have enormous positive reverberations on the region..." - Benjamin Netanyahu in 1995

IP Logged

longweekend58

Gold Member

Offline

Australian Politics

Posts: 45675
Gender: male

Re: House Prices Crash
Reply #185 - Mar 16^th, 2012 at 4:57pm

Ex Dame Pansi wrote on Mar 16^th, 2012 at 4:27pm:

It_is_the_Darkness wrote on Mar 16^th, 2012 at 3:26pm:

I see your point LW and it would seem the more orthodox approach in most of the world - But Australian Housing is like USA Economics - defunct!

Job security around the country is in crises. I got screwed out of my job after I was used as an excuse to get rid of Contractors. Once they were gone - I was replaced by Koreans who use Backpacker visas to drive flashy cars and not stay in Backpacker Hostels.

Most people are not making a profit on their houses. All around the South Coast of NSW hardly any of those houses are being sold at a profit - more loss and many are not sold at all. Suddenly that house and extra houses have become an 'anchor' that is stuck at the bottom in a rough 6 metre swell.
I'm in a [For Sale] house and like 5 other houses in this Rural town street - none are being sold.

Everyone knows the Real Estate agents aren't making a boom rip-off surge like around the year 2000AD so they just potter along now on Agent fees for 'trying' to sell.

When the USA Economy crashes (because Obama's finger in the dyke won't work this time) - Australian Housing will crash. Housing in the USA is relatively cheap. The house I'm in via a similar town in the USA I could buy for 75% less.

3 doors down there is a similar 3 bedroom house selling for just $100,000, unlike the one I'm in for $180,000.
I bet you when everything does 'Crash' - the 1970's will be back !!! Wink

Some people don't take into account that growth has departed, not to be seen for decades if ever. We are coming into a giant financial tsunami and those places that are selling for $100,000 today will be a lot less in a couple of years time. Hoping the government in all their wisdom (NOT) will have run out of available funds to prop up the already dead real estate market.

Investors won't bother because the rent returns won't be worth the trouble, so there should be plenty of cheapies on the market soon.

CRASH *^#!* BUST *#!<* BANG *>#!*

so you keep saying yada yada. and been wrong for years and years now...

not only wrong but MASSIVELY wrong - the only thing you specialise in.

Back to top

AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."

IP Logged

hawil

Gold Member

Offline

Australian Politics

Posts: 1345

Re: House Prices Crash
Reply #186 - Mar 16^th, 2012 at 5:09pm

longweekend58 wrote on Mar 13^th, 2012 at 11:21am:

Sir lastnail wrote on Mar 13^th, 2012 at 10:57am:

Bobby. wrote on Mar 13^th, 2012 at 10:36am:

Longweekend,
I don't pay rent - I own my place.
You lose again.

Now apologise.

madweekend should appologise to Steve Keen who said that house prices could fall by up to 40% !! Steve Keen's prediction has now been vindicated Wink

if you are that stupid to say that because a handful of houses dropped significantly that there has bene a price crash then you deserve all the mocking you get.

you morons come on here repeatedly telling us first that housing is going to crash and now that it has crashed and you are even stupid enough to quote people that say the very opposite.

you trully are dumb as a bag of hammers, living in rented accomodation....

losers.

Too many insults flying around this post, gentleman.
But when the property boom master becomes bearish, there are worrying signs ahead.
But owning just my place of living, it does not affect me that much.

Bursting a millionaire's housing bubble

15 Mar 2012 | 10:44 AM | Christopher Joye

The top end of the housing market is barely representative of the rest, despite what some commentators suggest. And the recent GFC has seen the most expensive homes suffer the biggest losses.

Back to top

IP Logged

Sir lastnail Gold Member Offline Australian Politics Posts: 30923 Gender:	Re: House Prices Crash Reply #187 - Mar 16^th, 2012 at 5:28pm longweekend58 wrote on Mar 16^th, 2012 at 4:57pm: so you keep saying yada yada. and been wrong for years and years now... not only wrong but MASSIVELY wrong - the only thing you specialise in. And your predictions are just like a stuck clock where you only get the time right twice each day LOL
Back to top	"If you take out Saddam, I guarantee you that it will have enormous positive reverberations on the region..." - Benjamin Netanyahu in 1995 IP Logged

longweekend58

Gold Member

Offline

Australian Politics

Posts: 45675
Gender: male

Re: House Prices Crash
Reply #188 - Mar 16^th, 2012 at 6:36pm

Sir lastnail wrote on Mar 16^th, 2012 at 5:28pm:

longweekend58 wrote on Mar 16^th, 2012 at 4:57pm:

so you keep saying yada yada. and been wrong for years and years now...

not only wrong but MASSIVELY wrong - the only thing you specialise in.

And your predictions are just like a stuck clock where you only get the time right twice each day Cheesy

LOL

except I ahve been right for 20 years all 24 hours of each day whil you have never yet been correct. all we have ever seen in price drops has been market corrections. the rest of the time we have seen capital appreciation - soemthing you seem unwilling or unable to comprehend.

Back to top

AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."

IP Logged

Bobby.

Gold Member

Offline

Australian Politics

Posts: 121378
Melbourne
Gender: male

Re: House Prices Crash
Reply #189 - Mar 16^th, 2012 at 6:41pm

Longweekend,
You've been spruiking house prices since 2007 on Yahoo Politics.

Sometimes I thought you were a real estate agent.

If you were so sure then why didn't you borrow money against your house
& buy up a couple of units?

If you had done so you would most likely have negative equity
yet you were telling others at least once a week to buy buy buy.

You're a hypocrite & you should apologise.

Back to top

IP Logged

It_is_the_Darkness Gold Member Offline Australian Politics Posts: 4000 in a ReTardis Gender:	Re: House Prices Crash Reply #190 - Mar 16^th, 2012 at 6:44pm Just getting some pizza for dinner and the shop TV had (W.I.N) A Current Affair showing how there is big bargains to be made on the flood of Reposessed Homes. ... I personally would still hold out.
Back to top	SUCKING ON MY TITTIES, LIKE I KNOW YOU WANT TO. IP Logged

bobbythefap1

Gold Member

Offline

Posts: 7026
Listen now to the rain

Re: House Prices Crash
Reply #191 - Mar 16^th, 2012 at 6:46pm

It_is_the_Darkness wrote on Mar 16^th, 2012 at 6:44pm:

Just getting some pizza for dinner and the shop TV had (W.I.N) A Current Affair showing how there is big bargains to be made on the flood of Reposessed Homes.
... Huh

I personally would still hold out.

If you really want to make money you would start a current affairs show and let the highest bidder buy a 'news' segment.

Back to top

A day without sunshine is like night.

IP Logged

perceptions_now

Gold Member

Offline

Australian Politics

Posts: 11694
Perth WA
Gender: male

Re: House Prices Crash
Reply #192 - Mar 16^th, 2012 at 7:50pm

longweekend58 wrote on Mar 16^th, 2012 at 6:36pm:

Sir lastnail wrote on Mar 16^th, 2012 at 5:28pm:

longweekend58 wrote on Mar 16^th, 2012 at 4:57pm:

so you keep saying yada yada. and been wrong for years and years now...

not only wrong but MASSIVELY wrong - the only thing you specialise in.

And your predictions are just like a stuck clock where you only get the time right twice each day Cheesy

LOL

except I ahve been right for 20 years all 24 hours of each day whil you have never yet been correct. all we have ever seen in price drops has been market corrections. the rest of the time we have seen capital appreciation - soemthing you seem unwilling or unable to comprehend.

"Oh Magoo, you've done it again!"!

LW, you are still living in an era that has ended and you wouldn't see a trend, if it bit you on the ass!

Try looking, IF YOU CAN, at what is already happening in the US & Europe & that will show you where OZ will head!

But, you won't, because you are what you say everyone else is!

In short, YOU ARE AN IDIOT!

Back to top

IP Logged

Bobby.

Gold Member

Offline

Australian Politics

Posts: 121378
Melbourne
Gender: male

Re: House Prices Crash
Reply #193 - Mar 16^th, 2012 at 8:58pm

Thanks Perceptions,
Finally Longweekend has been told by a moderator
that he's an idiot.

I'm sick of this guy.
He owns his own home.
He could have easily got a loan to buy & then rent out 2 units but he didn't.
(the tenants pay the rent which covers the mortgage scheme )
At the same time he was spruiking property from as far
back as the Yahoo days in 2007.

He just wants to talk big on Ozpolitics but doesn't believe his own fantasies.
For God's sake - the Govt. had to cover the Banks in 2008
to stop a run on funds.
What a great time to invest Cheesy

but Longweekend sat tight on his house
& got a job as water trainer.

Gimme a break. Grin

Back to top

IP Logged

longweekend58

Gold Member

Offline

Australian Politics

Posts: 45675
Gender: male

Re: House Prices Crash
Reply #194 - Mar 16^th, 2012 at 10:34pm

perceptions_now wrote on Mar 16^th, 2012 at 7:50pm:

longweekend58 wrote on Mar 16^th, 2012 at 6:36pm:

Sir lastnail wrote on Mar 16^th, 2012 at 5:28pm:

longweekend58 wrote on Mar 16^th, 2012 at 4:57pm:

so you keep saying yada yada. and been wrong for years and years now...

not only wrong but MASSIVELY wrong - the only thing you specialise in.

And your predictions are just like a stuck clock where you only get the time right twice each day Cheesy

LOL

except I ahve been right for 20 years all 24 hours of each day whil you have never yet been correct. all we have ever seen in price drops has been market corrections. the rest of the time we have seen capital appreciation - soemthing you seem unwilling or unable to comprehend.

"Oh Magoo, you've done it again!"!

LW, you are still living in an era that has ended and you wouldn't see a trend, if it bit you on the ass!

Try looking, IF YOU CAN, at what is already happening in the US & Europe & that will show you where OZ will head!

But, you won't, because you are what you say everyone else is!

In short, YOU ARE AN IDIOT!

I woudl say let's see how it all pans out and see who is right but that only works with people of intelligence and integrity. you are neither.

you are the same idiot that has been predicting economic doom and gloom for many many years while being repeatedly wrong. and even when there is economic trouble you are STILL wrong about how it plays out. Your eceopnomic predicttive skills are on a par with Flannerys climate predictions.

you were a fool when you were nedwin and reinventing yourslef fidnt help because the name changed but the fool remained.

Back to top

AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."

IP Logged