Australian Politics Forum - Real Estate could plummet in price.

Bobby. Moderator Offline Australian Politics Posts: 122093 Melbourne Gender:	Re: Real Estate could plummet in price. Reply #15 - Sep 23^rd, 2018 at 8:06pm lee wrote on Sep 23^rd, 2018 at 8:05pm: Bobby. wrote on Sep 23^rd, 2018 at 7:48pm: The former owner must have really had some champagne that day. What was the land value? I don't know but it was an odd shape with a triangular back area which wouldn't suit a developer.
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Bobby.

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Re: Real Estate could plummet in price.
Reply #16 - Sep 23^rd, 2018 at 8:07pm

Australias top banking analyst drops a bombshell - housing bubble

minimumtrade
Published on Sep 8, 2018

Whilst not as bearish on housing prices as the UBS team, Brian Johnson of CSLA here offers some very good points and insight.
"Jingle mail" (or near enough to) will exist in Australia if poo hits the fan. see 4:30
ABC The Business - Sept 2018.

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Bobby.

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Re: Real Estate could plummet in price.
Reply #17 - Sep 23^rd, 2018 at 8:11pm

Adams/North - Australia's Debt Bomb

Walk The World
Published on Jun 26, 2018

I discuss the state of the Australian economy with economist John Adams.

Please consider a subscription via our Patreon page to help us make more great content. https://www.patreon.com/DigitalFinanc...

Links to his series of articles:

Ten signs we're heading for 'economic armageddon' (Feb 2018)

https://www.news.com.au/finance/econo...

Ten myths making Australians complacent about looming 'economic armageddon' (May 2018)

https://www.news.com.au/finance/econo...

Six pathways to Australia's 'economic armageddon' (June 2018)

https://www.news.com.au/finance/econo...

How to prepare for economic Armageddon (June 2018)

https://www.news.com.au/finance/econo...
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News & Politics

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lee Gold Member Offline Australian Politics Posts: 21533 Gender:	Re: Real Estate could plummet in price. Reply #18 - Sep 23^rd, 2018 at 8:13pm Bobby. wrote on Sep 23^rd, 2018 at 7:55pm: May 2018. Observations of Australia's crazy credit fueled housing bubble from a top international investment manager with a short position in australian banks. yes. He likes buying distressed stocks at low valuations. So he talks stocks down. Way to go.
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lee Gold Member Offline Australian Politics Posts: 21533 Gender:	Re: Real Estate could plummet in price. Reply #19 - Sep 23^rd, 2018 at 8:15pm Bobby. wrote on Sep 23^rd, 2018 at 8:11pm: I discuss the state of the Australian economy with economist John Adams. Yeah. they have been talking the problem up for 7 months. Must be more resilient than they thought.
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Bobby.

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Re: Real Estate could plummet in price.
Reply #20 - Sep 23^rd, 2018 at 8:16pm

lee wrote on Sep 23^rd, 2018 at 8:13pm:

Bobby. wrote on Sep 23^rd, 2018 at 7:55pm:

May 2018. Observations of Australia's crazy credit fueled housing bubble from a top international investment manager with a short position in australian banks.

yes. He likes buying distressed stocks at low valuations. So he talks stocks down.

Way to go.

OK - he's biased.
Can you find anyone spruiking property right now?
( don't count real estate agents)

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lee Gold Member Offline Australian Politics Posts: 21533 Gender:	Re: Real Estate could plummet in price. Reply #21 - Sep 23^rd, 2018 at 8:17pm Bobby. wrote on Sep 23^rd, 2018 at 8:06pm: I don't know but it was an odd shape with a triangular back area which wouldn't suit a developer. And there's the nub. Not knowing.
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Bobby.

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Re: Real Estate could plummet in price.
Reply #22 - Sep 23^rd, 2018 at 8:21pm

lee wrote on Sep 23^rd, 2018 at 8:17pm:

Bobby. wrote on Sep 23^rd, 2018 at 8:06pm:

I don't know but it was an odd shape with a triangular back area
which wouldn't suit a developer.

And there's the nub. Not knowing.

But I can add up.
If you bulldozed that house & spent $200K building another one
then the price you'd have to sell it to make a profit
would be far above the local median price.

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lee

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Re: Real Estate could plummet in price.
Reply #23 - Sep 23^rd, 2018 at 8:26pm

Bobby. wrote on Sep 23^rd, 2018 at 8:21pm:

But I can add up.
If you bulldozed that house & spent $200K building another one
then the price you'd have to sell it to make a profit
would be far above the local median price.

But is that block part of surrounding blocks the purchaser already owns? Making it a larger merged block. Developers have been known to do that for holdout homeowners.

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Bobby.

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Re: Real Estate could plummet in price.
Reply #24 - Sep 23^rd, 2018 at 8:34pm

lee wrote on Sep 23^rd, 2018 at 8:26pm:

Bobby. wrote on Sep 23^rd, 2018 at 8:21pm:

But I can add up.
If you bulldozed that house & spent $200K building another one
then the price you'd have to sell it to make a profit
would be far above the local median price.

But is that block part of surrounding blocks the purchaser already owns? Making it a larger merged block. Developers have been known to do that for holdout homeowners.

Maybe that's what happened?
Otherwise it wouldn't make sense.

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Sir lastnail

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Re: Real Estate could plummet in price.
Reply #25 - Sep 23^rd, 2018 at 11:11pm

lee wrote on Sep 23^rd, 2018 at 7:17pm:

Bobby. wrote on Sep 23^rd, 2018 at 7:11pm:

But people need to have jobs that can support their high mortgages.

If the housing market drops 40% it will mean Australia is in deep recession. There will be a lot of people unemployed.

So there won't be any buyers even at a 40% discount. Those employed will want to keep any available money in case they become one of the unemployed.

But the Reserve should have their hands all over the economy to prevent that.

That's what happens when you put all of your money on the one horse. It is quite possible that you will lose the lot Sad

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

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Bobby.

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Re: Real Estate could plummet in price.
Reply #26 - Sep 24^th, 2018 at 5:50am

Sir lastnail wrote on Sep 23^rd, 2018 at 11:11pm:

lee wrote on Sep 23^rd, 2018 at 7:17pm:

Bobby. wrote on Sep 23^rd, 2018 at 7:11pm:

But people need to have jobs that can support their high mortgages.

If the housing market drops 40% it will mean Australia is in deep recession. There will be a lot of people unemployed.

So there won't be any buyers even at a 40% discount. Those employed will want to keep any available money in case they become one of the unemployed.

But the Reserve should have their hands all over the economy to prevent that.

That's what happens when you put all of your money on the one horse. It is quite possible that you will lose the lot Sad

Hi Nail,
buying property right now is a very risky exercise.
I certainly won't be buying anything unless I see some real value.
All I've seen so far is as though someone has put lipstick on a pig.
In some cases, as per above - I saw houses that were bulldozer jobs.

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lee Gold Member Offline Australian Politics Posts: 21533 Gender:	Re: Real Estate could plummet in price. Reply #27 - Sep 24^th, 2018 at 12:03pm Sir lastnail wrote on Sep 23^rd, 2018 at 11:11pm: It is quite possible that you will lose the lot Can you define "quite possible"? 75% chance, 50%, 10%?
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PZ547

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Re: Real Estate could plummet in price.
Reply #28 - Sep 24^th, 2018 at 1:26pm

Thousands of property owners across Australia could soon be faced with unavoidable multi-million-dollar bills - or even prison - if they fail to ensure buildings constructed with flammable cladding materials don’t meet new safety regulations.

And while each state and territory is approaching the life-threatening issue differently, it is in NSW where unknowing residents could be hit with ginormous bills they have no way of avoiding or face being fined - or even sent to jail.
That’s because this month, not only did the state Liberal government outlaw multiple flammable cladding types, including ACP, on new and existing buildings of two storeys or higher - requiring owners to register them online and work towards removing the panelling or sufficiently mitigating any risk - but they also moved to ban the material retrospectively.

That means residents of buildings built years ago with the cladding must now also rectify what is deemed dangerous.

LINK

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All my comments, posts & opinions are to be regarded as satire & humour

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PZ547

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Re: Real Estate could plummet in price.
Reply #29 - Sep 24^th, 2018 at 1:44pm

Property related:

Quote:

Over 1 million hack attacks on S.A.s land title system

South Australia's Planning Minister Stephan Knoll yesterday confirmed parts of the recently privatised system "was shutdown following a high number of overseas data searches" by 'guest account' search facilities.

The search feature allows anyone to access information such as the amount of money a person borrowed to purchase a property, along with their personal information such as their names, allotment numbers and certificate of title details

.

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All my comments, posts & opinions are to be regarded as satire & humour

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