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House price collapse already started !! (Read 19419 times)
Setanta
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Re: House price collapse already started !!
Reply #45 - Jun 21st, 2018 at 11:53pm
 
Sir lastnail wrote on Jun 21st, 2018 at 11:34pm:
Setanta wrote on Jun 21st, 2018 at 11:17pm:
Ireland built whole estates, towns, expecting there to be people to fill them. Ireland was RE positive. We are still RE negative. City units are what will suffer most but fibros for 800K should also suffer.



We are building whole estates along with blocks of apartments springing up everywhere. We gave away all of our productive manufacturing capacity and replaced it with  services and making cups of coffee. Not only that governments are addicted to revenue from stamp duty and other property taxes ! Same deal in Ireland before it went pear shaped. ! We are just repeating history but nobody wants to admit it Sad


Not where I live. Hence my statements re capitals. I don't give a shyte about the capitals to be honest. I will never live in one again and I could not give a toss about their probs bar we get the cashed up bogan overflow. Mostly arsewipes that have no idea of the local culture and seem to want to impress their shyte here on us. Why can't we all just get along?  Grin

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Setanta
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Re: House price collapse already started !!
Reply #46 - Jun 22nd, 2018 at 12:01am
 
Bobby, here's a home for you.
https://www.allhomes.com.au/ah/nsw/sale-residential/34-beardow-street-lismore-he...

My wife loves it, steal her heart. Damned hippy chick she is.

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Bobby.
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Re: House price collapse already started !!
Reply #47 - Jun 22nd, 2018 at 7:23am
 
Setanta wrote on Jun 22nd, 2018 at 12:01am:
Bobby, here's a home for you.
https://www.allhomes.com.au/ah/nsw/sale-residential/34-beardow-street-lismore-he...

My wife loves it, steal her heart. Damned hippy chick she is.




Looks good but as I found out -
a house that's no where near your job is
as useless as tits on a bull.
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Stig
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Re: House price collapse already started !!
Reply #48 - Jun 22nd, 2018 at 8:31am
 
Sir lastnail wrote on Jun 21st, 2018 at 10:42pm:
freediver wrote on Jun 21st, 2018 at 8:48pm:
Sounds like you are trying to make a comparison nail. What are the parallels? A housing market? People with mortgages?


Watch it and see or weep. Basically Ireland went from a productive export driven economy to an economy based on consumption, driven by low interest rates and cheap credit !! Pretty much the same conditions we now have in Australia !!

The similarities with Australia are uncanny and you cannot ignore it !! We have made the same mistake and did not learn from the GFC Sad



Ireland also had high and rising unemployment and very little government spending because they'd slashed their company tax base to something like 12%. Ireland was in effect considered a tax haven.

Australia isn't in recession, and infrastructure spending is in a boom. We also have the largest numbers of millionaires migrating here in outright numbers, let alone per capita.

So property will drop and it might even drop by 20% or so, but there will be no bust and in 5 years time prices will be climbing again.
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Stig
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Re: House price collapse already started !!
Reply #49 - Jun 22nd, 2018 at 8:43am
 
Sir lastnail wrote on Jun 21st, 2018 at 10:42pm:
freediver wrote on Jun 21st, 2018 at 8:48pm:
Sounds like you are trying to make a comparison nail. What are the parallels? A housing market? People with mortgages?


Watch it and see or weep. Basically Ireland went from a productive export driven economy to an economy based on consumption, driven by low interest rates and cheap credit !! Pretty much the same conditions we now have in Australia !!



Not really. Ireland dropped their corporate tax rate and poured subsidies into high tech industry to try and entice companies to set up shop there.

It worked until the GFC meant that some companies pulled out or wound back their operations. This killed the tax base, which in turn meant subsidies dried up, leading to an exodus.

Add to that - Irish wages had shot up, making them uncompetitive with cheaper countries like China, so companies moved operations offshore.

As for Irish property, the bust didn't last long.

...


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Gordon
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Re: House price collapse already started !!
Reply #50 - Jun 22nd, 2018 at 10:03am
 
Setanta wrote on Jun 22nd, 2018 at 12:01am:
Bobby, here's a home for you.
https://www.allhomes.com.au/ah/nsw/sale-residential/34-beardow-street-lismore-he...

My wife loves it, steal her heart. Damned hippy chick she is.



Cute, and Lismore seems to have good rental returns and good capital growth.

BTW,  Beard Ow Street Smiley
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IBI
 
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Sir lastnail
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Re: House price collapse already started !!
Reply #51 - Jun 22nd, 2018 at 11:09am
 
Stig wrote on Jun 22nd, 2018 at 8:43am:
Sir lastnail wrote on Jun 21st, 2018 at 10:42pm:
freediver wrote on Jun 21st, 2018 at 8:48pm:
Sounds like you are trying to make a comparison nail. What are the parallels? A housing market? People with mortgages?


Watch it and see or weep. Basically Ireland went from a productive export driven economy to an economy based on consumption, driven by low interest rates and cheap credit !! Pretty much the same conditions we now have in Australia !!



Not really. Ireland dropped their corporate tax rate and poured subsidies into high tech industry to try and entice companies to set up shop there.

It worked until the GFC meant that some companies pulled out or wound back their operations. This killed the tax base, which in turn meant subsidies dried up, leading to an exodus.

Add to that - Irish wages had shot up, making them uncompetitive with cheaper countries like China, so companies moved operations offshore.

As for Irish property, the bust didn't last long.

https://cdn-01.independent.ie/incoming/article36806148.ece/f3a68/AUTOCROP/w620/P...




Well you could say the same about Australia when we allowed all of these foreign pirates to come here and steal our wealth out of the ground and then a property boom followed it !! Now we have got nothing to show for it Sad

Almost identical scenario to Ireland !!



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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 #52 - Jun 22nd, 2018 at 11:11am
 
Bobby. wrote on Jun 22nd, 2018 at 7:23am:
Setanta wrote on Jun 22nd, 2018 at 12:01am:
Bobby, here's a home for you.
https://www.allhomes.com.au/ah/nsw/sale-residential/34-beardow-street-lismore-he...

My wife loves it, steal her heart. Damned hippy chick she is.




Looks good but as I found out -
a house that's no where near your job is
as useless as tits on a bull.


these days access to cheap credit has replaced the income from a proper job !
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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 #53 - Jun 22nd, 2018 at 11:17am
 
Sir lastnail wrote on Jun 22nd, 2018 at 11:09am:
Stig wrote on Jun 22nd, 2018 at 8:43am:
Sir lastnail wrote on Jun 21st, 2018 at 10:42pm:
freediver wrote on Jun 21st, 2018 at 8:48pm:
Sounds like you are trying to make a comparison nail. What are the parallels? A housing market? People with mortgages?


Watch it and see or weep. Basically Ireland went from a productive export driven economy to an economy based on consumption, driven by low interest rates and cheap credit !! Pretty much the same conditions we now have in Australia !!



Not really. Ireland dropped their corporate tax rate and poured subsidies into high tech industry to try and entice companies to set up shop there.

It worked until the GFC meant that some companies pulled out or wound back their operations. This killed the tax base, which in turn meant subsidies dried up, leading to an exodus.

Add to that - Irish wages had shot up, making them uncompetitive with cheaper countries like China, so companies moved operations offshore.

As for Irish property, the bust didn't last long.

https://cdn-01.independent.ie/incoming/article36806148.ece/f3a68/AUTOCROP/w620/P...




Well you could say the same about Australia when we allowed all of these foreign pirates to come here and steal our wealth out of the ground and then a property boom followed it !! Now we have got nothing to show for it Sad

Almost identical scenario to Ireland !!



No wonder everyone thinks you are a fool, you have just been shown it is a completely different scenario to Ireland which did not have a resources boom but borrowed on the hope of a technological boom and their property market has shot back up.
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Stig
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Re: House price collapse already started !!
Reply #54 - Jun 22nd, 2018 at 12:26pm
 
Sir lastnail wrote on Jun 22nd, 2018 at 11:09am:
Stig wrote on Jun 22nd, 2018 at 8:43am:
Sir lastnail wrote on Jun 21st, 2018 at 10:42pm:
freediver wrote on Jun 21st, 2018 at 8:48pm:
Sounds like you are trying to make a comparison nail. What are the parallels? A housing market? People with mortgages?


Watch it and see or weep. Basically Ireland went from a productive export driven economy to an economy based on consumption, driven by low interest rates and cheap credit !! Pretty much the same conditions we now have in Australia !!



Not really. Ireland dropped their corporate tax rate and poured subsidies into high tech industry to try and entice companies to set up shop there.

It worked until the GFC meant that some companies pulled out or wound back their operations. This killed the tax base, which in turn meant subsidies dried up, leading to an exodus.

Add to that - Irish wages had shot up, making them uncompetitive with cheaper countries like China, so companies moved operations offshore.

As for Irish property, the bust didn't last long.

https://cdn-01.independent.ie/incoming/article36806148.ece/f3a68/AUTOCROP/w620/P...




Well you could say the same about Australia when we allowed all of these foreign pirates to come here and steal our wealth out of the ground and then a property boom followed it !! Now we have got nothing to show for it Sad

Almost identical scenario to Ireland !!


Nothing like it, actually.

Here's an interesting stat for you.

Ireland ENTIRE infrastructure spend - the whole country's worth of roads, rail, airports, power gen is roughly equivalent to what the NSW government is paying for a single road project (Westconnex).

The infrastructure spend of Australia is currently equivalent to that of Germany, only slightly behind that of France or the UK, and almost half a trillion dollars more than Russia.

That is a big part of the reason why there will be no Irish recession here.
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freediver
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Re: House price collapse already started !!
Reply #55 - Jun 22nd, 2018 at 3:02pm
 
Sir lastnail wrote on Jun 21st, 2018 at 10:42pm:
freediver wrote on Jun 21st, 2018 at 8:48pm:
Sounds like you are trying to make a comparison nail. What are the parallels? A housing market? People with mortgages?


Watch it and see or weep. Basically Ireland went from a productive export driven economy to an economy based on consumption, driven by low interest rates and cheap credit !! Pretty much the same conditions we now have in Australia !!

The similarities with Australia are uncanny and you cannot ignore it !! We have made the same mistake and did not learn from the GFC Sad






Can you put it in your own words, or do you not understand it?
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perceptions_now
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Re: House price collapse already started !!
Reply #56 - Jun 22nd, 2018 at 3:29pm
 
Housing Prices, are set to go Lower, for similar reasons to the Global Economy in general -
1) Population
2) Energy
3) Climate Change
4) Debt
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red baron
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Re: House price collapse already started !!
Reply #57 - Jun 23rd, 2018 at 3:43pm
 
Sydney is predicted to drop 10% in the future

About time

Who in their right minds would pay over a million dollars for a hundred year old fibro craphouse fit only for shovelling
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Bobby.
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Re: House price collapse already started !!
Reply #58 - Jun 23rd, 2018 at 4:25pm
 
red baron wrote on Jun 23rd, 2018 at 3:43pm:
Sydney is predicted to drop 10% in the future

About time

Who in their right minds would pay over a million dollars for a hundred year old fibro craphouse fit only for shovelling



I predict a 20% drop for Melbourne.
There are old fibro dumps there too, going for over $1 million.
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Stig
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Re: House price collapse already started !!
Reply #59 - Jun 25th, 2018 at 8:47am
 
Bobby. wrote on Jun 23rd, 2018 at 4:25pm:
red baron wrote on Jun 23rd, 2018 at 3:43pm:
Sydney is predicted to drop 10% in the future

About time

Who in their right minds would pay over a million dollars for a hundred year old fibro craphouse fit only for shovelling



I predict a 20% drop for Melbourne.
There are old fibro dumps there too, going for over $1 million.


The "fibro dump" isn't worth a cent. The land, however is worth a lot.
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