Australian Politics Forum - Real Estate could plummet in price.

Bobby. Moderator Offline Australian Politics Posts: 122093 Melbourne Gender:	Real Estate could plummet in price. Sep 23^rd, 2018 at 6:27pm Real estate could go down 40% in price very soon:
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lee Gold Member Offline Australian Politics Posts: 21533 Gender:	Re: Real Estate could plummet in price. Reply #1 - Sep 23^rd, 2018 at 7:08pm Yeah. Could or not. Not enough houses being built. More Immigrants. Shortage of housing. Prices have dropped 3% in the last year after rising 37% in the previous 5. Inner city land can only get scarcer.
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Bobby.

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Re: Real Estate could plummet in price.
Reply #2 - Sep 23^rd, 2018 at 7:11pm

lee wrote on Sep 23^rd, 2018 at 7:08pm:

Yeah. Could or not.

Not enough houses being built. More Immigrants. Shortage of housing.

Prices have dropped 3% in the last year after rising 37% in the previous 5.

Inner city land can only get scarcer.

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

It is true that there will always be demand when so many
immigrants are coming here every week.

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lee

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Re: Real Estate could plummet in price.
Reply #3 - 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.

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Bobby.

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Re: Real Estate could plummet in price.
Reply #4 - Sep 23^rd, 2018 at 7:33pm

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.

Let's hope the Reserve Bank can save us.
I can tell you something I've seen -

a lot of people trying to sell rubbish houses & flats
for incredibly high prices.

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greggerypeccary Gold Member Offline Australian Politics Posts: 155733 Gender:	Re: Real Estate could plummet in price. Reply #5 - Sep 23^rd, 2018 at 7:34pm lee wrote on Sep 23^rd, 2018 at 7:08pm: Yeah. Could or not. Not enough houses being built. More Immigrants. Shortage of housing. Prices have dropped 3% in the last year after rising 37% in the previous 5. Inner city land can only get scarcer. Are you also of the opinion that water is wet?
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lee

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Re: Real Estate could plummet in price.
Reply #6 - Sep 23^rd, 2018 at 7:38pm

greggerypeccary wrote on Sep 23^rd, 2018 at 7:34pm:

Are you also of the opinion that water is wet?

I am of the opinion that you are a complete dick. But the forum already holds that opinion. So it ain't new.

But tell us what you think will happen to scarce inner city land. Up or down in price?

To make it easier for you we will call Vic Park inner city.

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lee Gold Member Offline Australian Politics Posts: 21533 Gender:	Re: Real Estate could plummet in price. Reply #7 - Sep 23^rd, 2018 at 7:40pm Bobby. wrote on Sep 23^rd, 2018 at 7:33pm: I can tell you something I've seen - a lot of people trying to sell rubbish houses & flats for incredibly high prices. Of course. People do that all the time. Sometimes for them it even pays off. Sometimes it doesn't.
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greggerypeccary

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Re: Real Estate could plummet in price.
Reply #8 - Sep 23^rd, 2018 at 7:40pm

lee wrote on Sep 23^rd, 2018 at 7:38pm:

greggerypeccary wrote on Sep 23^rd, 2018 at 7:34pm:

Are you also of the opinion that water is wet?

I am of the opinion that you are a complete dick. But the forum already holds that opinion. So it ain't new.

But tell us what you think will happen to scarce inner city land. Up or down in price?

To make it easier for you we will call Vic Park inner city.

So, it is wet?

A simple yes or no will suffice.

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lee Gold Member Offline Australian Politics Posts: 21533 Gender:	Re: Real Estate could plummet in price. Reply #9 - Sep 23^rd, 2018 at 7:42pm greggerypeccary wrote on Sep 23^rd, 2018 at 7:40pm: So, it is wet? Oh dear. greggy doesn't know the state of water being wet or dry.
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Bobby.

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Re: Real Estate could plummet in price.
Reply #10 - Sep 23^rd, 2018 at 7:48pm

lee wrote on Sep 23^rd, 2018 at 7:40pm:

Bobby. wrote on Sep 23^rd, 2018 at 7:33pm:

I can tell you something I've seen -

a lot of people trying to sell rubbish houses & flats
for incredibly high prices.

Of course. People do that all the time. Sometimes for them it even pays off. Sometimes it doesn't.

I recently saw a house that had 1 foot high weeds growing out of all the gutters,
rusty gutters & down pipes, rotten wood underneath the gutters,
and that white asbestos board under the eaves between
the gutters & the house.
Some sucker bought it for a high price.
To me, it was bulldozer material.

The former owner must have really had some champagne that day.

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greggerypeccary

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Re: Real Estate could plummet in price.
Reply #11 - Sep 23^rd, 2018 at 7:49pm

lee wrote on Sep 23^rd, 2018 at 7:42pm:

greggerypeccary wrote on Sep 23^rd, 2018 at 7:40pm:

So, it is wet?

Oh dear. greggy doesn't know the state of water being wet or dry.

None of us do.

We need you to keep up up to date on these things.

For example, nobody here knew that inner city land can only get scarcer.

I've contacted the ABC to let them know, and I've asked them to give full credit to you for this revelation.

No need to thank me. I'm a nice guy; it's what I do.

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Bobby.

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Re: Real Estate could plummet in price.
Reply #12 - Sep 23^rd, 2018 at 7:55pm

Australian housing market - property Bubble & Banks, 2018 Insights.

minimumtrade
Published on Sep 3, 2018

May 2018. Observations of Australia's crazy credit fueled housing bubble from a top international investment manager with a short position in australian banks. Edit: Thank you for the helpful contributions below, it is understood this is investment manager William Strong, part of an interview with Realvision television segment. Yes he is rocking the sneans (or you may call it junners fashion) but he's correctly called the rolling over of; what was a seven-half trillion residential market, would you agree?

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lee

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Re: Real Estate could plummet in price.
Reply #13 - Sep 23^rd, 2018 at 8:04pm

greggerypeccary wrote on Sep 23^rd, 2018 at 7:49pm:

For example, nobody here knew that inner city land can only get scarcer.

I've contacted the ABC to let them know, and I've asked them to give full credit to you for this revelation.

And yet you cpildn't answer the simple question does it become dearer or cheaper? oh dear.

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lee Gold Member Offline Australian Politics Posts: 21533 Gender:	Re: Real Estate could plummet in price. Reply #14 - 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?
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