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House price collapse already started !! (Read 19391 times)
Frank
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Re: House price collapse already started !!
Reply #165 - Jul 23rd, 2018 at 10:24pm
 
Sir lastnail wrote on Jul 22nd, 2018 at 1:10pm:
rhino wrote on Jul 22nd, 2018 at 1:06pm:
Are you unable to answer the question? What "event"?


before the impending correction that you refuse to acknowledge.

Oh? Correction now, not a collapse, after all.

That was a very quick climb-down.
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Estragon: I can’t go on like this.
Vladimir: That’s what you think.
 
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Stig
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Re: House price collapse already started !!
Reply #166 - Jul 24th, 2018 at 8:33am
 
Frank wrote on Jul 23rd, 2018 at 10:24pm:
Sir lastnail wrote on Jul 22nd, 2018 at 1:10pm:
rhino wrote on Jul 22nd, 2018 at 1:06pm:
Are you unable to answer the question? What "event"?


before the impending correction that you refuse to acknowledge.

Oh? Correction now, not a collapse, after all.

That was a very quick climb-down.


Haha - noticed it too.

Even a 10% reduction after a decade where prices doubled is hardly a crisis.

In fact I'm holding out on buying an investment property hoping it will be 10%
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aquascoot
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Re: House price collapse already started !!
Reply #167 - Jul 24th, 2018 at 8:48am
 
i dont think people realise how rich some of chinese immigrants are.
i was at dinner with one on the gold coast and he had 2 development projects going in brisbane . both to build blocks of 30 units.

he said this was just a bit of a hobby project as he used to build blocks of 100's of units in china.

he brought an old heritage building in brisbane and knocked it down to build one of these blocks.

he thought the councils letters and fines and the people in the street protesting were "amusing".

these guys are playing the game at a whole new level.

they could not care less about joe lunchbox trying to scrape up a deposit on a house.

as long as our pollies are being bribed and treasury relies on this sort of capital input, the cost of real estate isnt going to drop much at all
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Gordon
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Re: House price collapse already started !!
Reply #168 - Jul 24th, 2018 at 9:42am
 
aquascoot wrote on Jul 24th, 2018 at 8:48am:
i dont think people realise how rich some of chinese immigrants are.
i was at dinner with one on the gold coast and he had 2 development projects going in brisbane . both to build blocks of 30 units.

he said this was just a bit of a hobby project as he used to build blocks of 100's of units in china.

he brought an old heritage building in brisbane and knocked it down to build one of these blocks.

he thought the councils letters and fines and the people in the street protesting were "amusing".

these guys are playing the game at a whole new level.

they could not care less about joe lunchbox trying to scrape up a deposit on a house.

as long as our pollies are being bribed and treasury relies on this sort of capital input, the cost of real estate isnt going to drop much at all


Yup. I was actually in the Goldie last week and met with an old mate I knew when I was living in Vietnam and a Chinese mate of his. The amount of money they both have in Aussie real estate is breath taking.

They don't care one jot about short/medium term dips as their prime objective is to get money out of Vietnam / China and even a 25% loss (on paper) represents acceptable insurance against their capital. Incidentally, they're not in the least phased about the long term future of Aussie real estate. 
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Grappler Truth Teller Feller
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Re: House price collapse already started !!
Reply #169 - Jul 24th, 2018 at 9:58am
 
Yup - same kind of story near here - big Chinese guy made millions out of building roads in China, bought a large rural block here - so far been fined $2m by council - chicken feed.

Ah - the joys of being a good socialist .....
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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
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Sir lastnail
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Re: House price collapse already started !!
Reply #170 - Jul 24th, 2018 at 10:08am
 
Frank wrote on Jul 23rd, 2018 at 10:24pm:
Sir lastnail wrote on Jul 22nd, 2018 at 1:10pm:
rhino wrote on Jul 22nd, 2018 at 1:06pm:
Are you unable to answer the question? What "event"?


before the impending correction that you refuse to acknowledge.

Oh? Correction now, not a collapse, after all.

That was a very quick climb-down.


Ok crash then Wink I'm fine with crash 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: House price collapse already started !!
Reply #171 - Jul 24th, 2018 at 10:11am
 
Gordon wrote on Jul 24th, 2018 at 9:42am:
aquascoot wrote on Jul 24th, 2018 at 8:48am:
i dont think people realise how rich some of chinese immigrants are.
i was at dinner with one on the gold coast and he had 2 development projects going in brisbane . both to build blocks of 30 units.

he said this was just a bit of a hobby project as he used to build blocks of 100's of units in china.

he brought an old heritage building in brisbane and knocked it down to build one of these blocks.

he thought the councils letters and fines and the people in the street protesting were "amusing".

these guys are playing the game at a whole new level.

they could not care less about joe lunchbox trying to scrape up a deposit on a house.

as long as our pollies are being bribed and treasury relies on this sort of capital input, the cost of real estate isnt going to drop much at all


Yup. I was actually in the Goldie last week and met with an old mate I knew when I was living in Vietnam and a Chinese mate of his. The amount of money they both have in Aussie real estate is breath taking.

They don't care one jot about short/medium term dips as their prime objective is to get money out of Vietnam / China and even a 25% loss (on paper) represents acceptable insurance against their capital. Incidentally, they're not in the least phased about the long term future of Aussie real estate. 


How is that good for the rest of us ? It's a sign of a desperate government that allows this to happen.
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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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Grappler Truth Teller Feller
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Re: House price collapse already started !!
Reply #172 - Jul 24th, 2018 at 10:48am
 
Sir lastnail wrote on Jul 24th, 2018 at 10:11am:
Gordon wrote on Jul 24th, 2018 at 9:42am:
aquascoot wrote on Jul 24th, 2018 at 8:48am:
i dont think people realise how rich some of chinese immigrants are.
i was at dinner with one on the gold coast and he had 2 development projects going in brisbane . both to build blocks of 30 units.

he said this was just a bit of a hobby project as he used to build blocks of 100's of units in china.

he brought an old heritage building in brisbane and knocked it down to build one of these blocks.

he thought the councils letters and fines and the people in the street protesting were "amusing".

these guys are playing the game at a whole new level.

they could not care less about joe lunchbox trying to scrape up a deposit on a house.

as long as our pollies are being bribed and treasury relies on this sort of capital input, the cost of real estate isnt going to drop much at all


Yup. I was actually in the Goldie last week and met with an old mate I knew when I was living in Vietnam and a Chinese mate of his. The amount of money they both have in Aussie real estate is breath taking.

They don't care one jot about short/medium term dips as their prime objective is to get money out of Vietnam / China and even a 25% loss (on paper) represents acceptable insurance against their capital. Incidentally, they're not in the least phased about the long term future of Aussie real estate. 


How is that good for the rest of us ? It's a sign of a desperate government that allows this to happen.


Yes - when a government introduces grossly unfair competition into a market such as housing, they are dooming the majority to a position of never being able to compete for a roof over their heads, and thus to becoming perpetual rent slaves to the rich.  They are also driving prices up constantly to cater to the overflowing bank balances of these mega-rich 'good communists'.

It's also a sure sign that there is nothing else on the table to sustain the economy ... after all, mining etc hardly pay any taxes... and at least construction will keep the tradies busy.  My son is one and he says the same... it's the only business in town in SE Queensland and without it the unemployment would be massive.

Furthermore, selling out this nation will inevitably ensure that its people will one day be controlled by foreigners with no solid affiliation with this nation and its culture and its ethos.  We've seen plenty of that already in the past fifty or sixty years with successive waves of out-of-context with Australia immigration.  Look at the results to date.   Embarrassed
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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
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Sir lastnail
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Re: House price collapse already started !!
Reply #173 - Jul 24th, 2018 at 11:04am
 
Stig wrote on Jul 24th, 2018 at 8:33am:
Frank wrote on Jul 23rd, 2018 at 10:24pm:
Sir lastnail wrote on Jul 22nd, 2018 at 1:10pm:
rhino wrote on Jul 22nd, 2018 at 1:06pm:
Are you unable to answer the question? What "event"?


before the impending correction that you refuse to acknowledge.

Oh? Correction now, not a collapse, after all.

That was a very quick climb-down.


Haha - noticed it too.

Even a 10% reduction after a decade where prices doubled is hardly a crisis.

In fact I'm holding out on buying an investment property hoping it will be 10%


There's no more cans for the gov to kick down the road to keep house prices inflated and the banks have been exposed for dodgy lending practices so now you are on your own. Enter at own risk !

Identical circumstances in Ireland and look what happened !


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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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Unforgiven
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Re: House price collapse already started !!
Reply #174 - Jul 24th, 2018 at 11:31am
 
The problem is that homes have been turned into investment goods with investors competing and bidding up the price.

The market needs a high-interest shock to shake out the investors in favor of residential owners.
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Sir lastnail
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Re: House price collapse already started !!
Reply #175 - Jul 24th, 2018 at 11:37am
 
Unforgiven wrote on Jul 24th, 2018 at 11:31am:
The problem is that homes have been turned into investment goods with investors competing and bidding up the price.

The market needs a high-interest shock to shake out the investors in favor of residential owners.


The banks have stopped interest only loans to investors and stopped lending to punters to buy property for their SMSF's 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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rhino
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Re: House price collapse already started !!
Reply #176 - Jul 24th, 2018 at 12:02pm
 
Sir lastnail wrote on Jul 24th, 2018 at 10:08am:
Frank wrote on Jul 23rd, 2018 at 10:24pm:
Sir lastnail wrote on Jul 22nd, 2018 at 1:10pm:
rhino wrote on Jul 22nd, 2018 at 1:06pm:
Are you unable to answer the question? What "event"?


before the impending correction that you refuse to acknowledge.

Oh? Correction now, not a collapse, after all.

That was a very quick climb-down.


Ok crash then Wink I'm fine with crash Wink
Well, first you say a collapse has already happened, now you say its impending and will happen. Then its not a collapse but an "impending correction". Now its back to a  crash, which hasnt happened. How do you explain rising prices in some states if its a crash? You really seem to be a guru on this.
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rhino
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Re: House price collapse already started !!
Reply #177 - Jul 24th, 2018 at 12:04pm
 
Sir lastnail wrote on Jul 24th, 2018 at 11:04am:
Stig wrote on Jul 24th, 2018 at 8:33am:
Frank wrote on Jul 23rd, 2018 at 10:24pm:
Sir lastnail wrote on Jul 22nd, 2018 at 1:10pm:
rhino wrote on Jul 22nd, 2018 at 1:06pm:
Are you unable to answer the question? What "event"?


before the impending correction that you refuse to acknowledge.

Oh? Correction now, not a collapse, after all.

That was a very quick climb-down.


Haha - noticed it too.

Even a 10% reduction after a decade where prices doubled is hardly a crisis.

In fact I'm holding out on buying an investment property hoping it will be 10%


There's no more cans for the gov to kick down the road to keep house prices inflated and the banks have been exposed for dodgy lending practices so now you are on your own. Enter at own risk !

Identical circumstances in Ireland and look what happened !


as you have been previously shown, circumstances were not and are not identical in Ireland.
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Re: House price collapse already started !!
Reply #178 - Jul 24th, 2018 at 12:18pm
 
Sir lastnail wrote on Jul 24th, 2018 at 10:11am:
Gordon wrote on Jul 24th, 2018 at 9:42am:
aquascoot wrote on Jul 24th, 2018 at 8:48am:
i dont think people realise how rich some of chinese immigrants are.
i was at dinner with one on the gold coast and he had 2 development projects going in brisbane . both to build blocks of 30 units.

he said this was just a bit of a hobby project as he used to build blocks of 100's of units in china.

he brought an old heritage building in brisbane and knocked it down to build one of these blocks.

he thought the councils letters and fines and the people in the street protesting were "amusing".

these guys are playing the game at a whole new level.

they could not care less about joe lunchbox trying to scrape up a deposit on a house.

as long as our pollies are being bribed and treasury relies on this sort of capital input, the cost of real estate isnt going to drop much at all


Yup. I was actually in the Goldie last week and met with an old mate I knew when I was living in Vietnam and a Chinese mate of his. The amount of money they both have in Aussie real estate is breath taking.

They don't care one jot about short/medium term dips as their prime objective is to get money out of Vietnam / China and even a 25% loss (on paper) represents acceptable insurance against their capital. Incidentally, they're not in the least phased about the long term future of Aussie real estate. 


How is that good for the rest of us ? It's a sign of a desperate government that allows this to happen.


It means the Chinese would rather pay for our houses for us then sell or rent them back at a 25% discount than have the money where their own government can get their hands on it. Don't compete, take advantage.
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tickleandrose
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Re: House price collapse already started !!
Reply #179 - Jul 24th, 2018 at 1:01pm
 
Gold is the currency for kings.  Silver is the currency for merchants.  Debt is the currency of slaves.

Think about it before you commit to a huge mortgage. 
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