House prices to keep falling for years

[prawn_86]

that the trouble with people, they find excuses not to help..oh the churches is loaded they don't need help or this person is this and so and so has house on the harbor, anything but dig deep.


why not just accept that if I just give some of that may go to someone who really need it..When I give I dont give a ****, some of that will go to the needed, yes some of that will filled up someone coffer but

if everyone question and make excuses to make them feel better for not helping then well they will never give anything to anyone and Charity is a very lonely place.

This is a great post ROE. People just need to assume that at least some of the money they give will reach its target. Too many people say "oh not enough money goes to the cause" and then dont give anything 50% of 0 is still 0, whereas 50% of $1 is 50c.

Its not that hard to give really, and we should be thankful if we are more fortunate than others.

I give 10% of my Net income (after rent, food and utility bills) to charities of my choice. If i can as a student there are many more people out there who could...

 

[cuttlefish]

This is a great post ROE. People just need to assume that at least some of the money they give will reach its target. Too many people say "oh not enough money goes to the cause" and then dont give anything 50% of 0 is still 0, whereas 50% of $1 is 50c.

Its not that hard to give really, and we should be thankful if we are more fortunate than others.

I give 10% of my Net income (after rent, food and utility bills) to charities of my choice. If i can as a student there are many more people out there who could...

A couple of points. Firstly ... don't make assumptions about the amount of money people do or don't give to charity based on the facts they provide about the wealth of the catholic church.

Actually ... thats my only point.

 

[Naked shorts]

Ross Gittins of SMH reckons housing here in AU will have a "soft landing", ie NO great price crash coming: http://business.smh.com.au/business/housing-heads-for-a-soft-landing-20081125-6hf0.html?page=2

Reads pretty much like a 2 page synopsis of the counter-crash arguments presented many times in this thread!

Cheers,

Beej

Give me $2000 and i can get any crap you want in the SMH. Why do you read that? honestly.

Should I take the plunge now and buy a one bedroom apartment off the plan taking account of the 21k from the government?

Or should I sit tight keep saving and just wait a little longer?
boxoid

You have 20k...You have three options.

1. Buy your house on debt and pay off your bank manager's new Porsches for 10+ years.
2. Buy your house, let flatmates pay off your bank managers Porsches (as others on this thread have suggested)
3. Continue posting here, read everything of this forum, learn to trade and get your bank manager to buy your old Porsches

I appologise for my ignorance to your situation.

 

[chops_a_must]

I give 10% of my Net income (after rent, food and utility bills) to charities of my choice. If i can as a student there are many more people out there who could...

Pretty much.

I'm sure I've given more to charities as a poor student in the past, and continue to do so on a relatively low income, than most people here do.

A seriously piss poor showing on these boards by people who really have done pretty well, and could give a tiny amount, that would probably amount to more than what you or I could.

The sad thing is, and the reality of the current position of the world, that some of the people from here, probably are, or are going to be living on the street over the next few years. That really is the situation that we are faced with. The arrogance and attitude when faced with the reality of this is absolutely appalling.

A couple of points. Firstly ... don't make assumptions about the amount of money people do or don't give to charity based on the facts they provide about the wealth of the catholic church.

Actually ... thats my only point.

Secondly, you have not given any indication as to sympathy for the most needy in society at all. Rather, you have taken the ground of someone admittedly with a strong dislike for those in society most disadvantaged.

I really do not hope that is your actual position, but it does appear it is.

Thirdly, there are other organisations that you can give to that aren't church based, or are in the very least multi-denominational that work in this field.

 

[wayneL]

A couple of recent articles for your amusement:

House prices drop £100,000 in two WEEKS as sellers race to secure sales before Christmas

Asking prices for homes are being slashed by up to £100,000 to secure sales in the run-up to Christmas.
In the last two weeks, sellers have finally faced up to the "new reality" of the depressed London market after months of denial, figures reveal today.
They show that hundreds of asking prices have been dramatically cut in the past fortnight, with reductions in the two most expensive boroughs averaging more than £100,000.

Dubai's Palm Jumeirah sees prices fall as crunch moves in
Property prices on the Palm Jumeirah, the island in Dubai that has been dubbed the ‘eighth wonder of the world’, have plummeted by as much as 40pc since September amid fears that the global credit crisis is stalling the emirate’s economy.


Edinburgh house prices fall 11.4 per cent
Scotland's property market succumbs to the crunch

It's official. The credit crunch now has Edinburgh in its grips. More than £20,000 has been wiped off the average value of an Edinburgh home this year, according to The Edinburgh Solicitors Property Centre, and the number of homes being sold has halved. (EDINBURGH WAS SUPPOSED TO BE IMMUNE)


House price falls hit 20pc
House prices have already fallen by 20pc from their peak, according to one of Britain's largest property websites.

 

[wayneL]

...and the **** is only just starting to hit the fan.

Unemployment is going to skyrocket all over the west.

 

[cuttlefish]

Secondly, you have not given any indication as to sympathy for the most needy in society at all. Rather, you have taken the ground of someone admittedly with a strong dislike for those in society most disadvantaged.

I really do not hope that is your actual position, but it does appear it is.

Thirdly, there are other organisations that you can give to that aren't church based, or are in the very least multi-denominational that work in this field.

Chops - I probably don't give as much to charity as I should but I do provide to some worthwhile causes (well I believe them to be anyway).

Wouldn't surprise me if Robots does as well.

I'm not about to relate a life story but I'm pretty sure I'm not naive to the realities of life and the shi t that some people go through.

 

[chops_a_must]

Chops - I probably don't give as much to charity as I should but I do provide to some worthwhile causes (well I believe them to be anyway).

Wouldn't surprise me if Robots does as well.

I'm not about to relate a life story but I'm pretty sure I'm not naive to the realities of life and the shi t that some people go through.

That's all I wanted to know.

And may you or I in the future, never be in that position.

And may all your trades on gold... well... turn to gold.

 

[wayneL]

The folly of believing in the never ending boom:

Diary of a repossession: One couple describes the agony of losing their luxury £400,000 home in the credit crunch

 

[mazzatelli1000]

The folly of believing in the never ending boom:

Diary of a repossession: One couple describes the agony of losing their luxury £400,000 home in the credit crunch

Wow, like the market, when things go down, it goes down hard!!!

Lost their business and house!!

 

[numbercruncher]

The folly of believing in the never ending boom:

Diary of a repossession: One couple describes the agony of losing their luxury £400,000 home in the credit crunch

Doh, pretty much another case of the greedy becoming the needy .... they pretty much thought and acted along the lines of your average punter thou it seems - irrational to us bears/realists ..... but oh well they have theie house and a roof over their heads ...

 

[Mofra]

Wouldn't surprise me if Robots does as well.

I'm not about to relate a life story but I'm pretty sure I'm not naive to the realities of life and the shi t that some people go through.

After reading the last page it'd surprise me

 

[Aussiejeff]

A couple of recent articles for your amusement:

House prices drop £100,000 in two WEEKS as sellers race to secure sales before Christmas

Asking prices for homes are being slashed by up to £100,000 to secure sales in the run-up to Christmas.
In the last two weeks, sellers have finally faced up to the "new reality" of the depressed London market after months of denial, figures reveal today.
They show that hundreds of asking prices have been dramatically cut in the past fortnight, with reductions in the two most expensive boroughs averaging more than £100,000.

Dubai's Palm Jumeirah sees prices fall as crunch moves in
Property prices on the Palm Jumeirah, the island in Dubai that has been dubbed the ‘eighth wonder of the world’, have plummeted by as much as 40pc since September amid fears that the global credit crisis is stalling the emirate’s economy.


Edinburgh house prices fall 11.4 per cent
Scotland's property market succumbs to the crunch

It's official. The credit crunch now has Edinburgh in its grips. More than £20,000 has been wiped off the average value of an Edinburgh home this year, according to The Edinburgh Solicitors Property Centre, and the number of homes being sold has halved. (EDINBURGH WAS SUPPOSED TO BE IMMUNE)


House price falls hit 20pc
House prices have already fallen by 20pc from their peak, according to one of Britain's largest property websites.

WOW!

Not the headline.... that's passe.

But, [size=+2]The Ghost Of WayneL[/size] is ba-a-a-ack! :bananasmi

Now THAT'S good news!!


FYI, in Wodonga ("Wodonga? Where TF is Wah-don-gah????" I hear you ask - ummm, it is in the Far North East of Mexico (err.. Victoria to you Cockroaches, Sandgropers, Crows and Cane Toads) I have noticed the Real Estate section in our local community newspaper appears to be becoming crammed full of "NEW LISTING", "PRICE REDUCED" and PRICE SLASHED offerings. There were only five "SOLD" listings in the 20 odd pages.

In comparison around the same time last year the same magazine pages were packed full of "SOLD" and "HOUSES WANTED - URGENT" listings.

Oh what a difference a year makes.

All we need now is for the banks to inevitably up their loan deposit % rates to offset their reduced loan % rates and the circle of gloom will be complete....

 

[professor_frink]

The folly of believing in the never ending boom:

Diary of a repossession: One couple describes the agony of losing their luxury £400,000 home in the credit crunch

what a sad story

Really quite scary that people who are well and truly old enough to remember what it's like to live through a recession would leverage up their home to buy and IP, then a month later, leverage up even more to buy a business, then turn around and splurge on a couple of new cars at the same time.

 

[prawn_86]

Really quite scary that people who are well and truly old enough to remember what it's like to live through a recession would leverage up their home to buy and IP, then a month later, leverage up even more to buy a business, then turn around and splurge on a couple of new cars at the same time.

Mankind in general doesnt learn from their mistakes/the past, hence why we are doomed to send ourselves extinct eventually

 

[gfresh]

George Santayana: Those who cannot remember the past are condemned to repeat it.

Interesting read above..

November 2008: We are reeling with anger. HBOS has accepted an offer of just £255,000 for Richmond House. We can't believe how uncaring it is to sell the house for such a ridiculous price.

I feel no sympathy whatsoever however How can you be "reeling in anger" at that price you greedy little turds?!!

March 2006: Two days later, our offer of £159,500 was accepted, and within a week we'd found a buyer for our old house. A couple of months later, we moved in.

they've made £96k pounds (or approximately $225k in convict money) and they have the audacity to think that is still a bad price? They're lucky to even get a good premium on what they paid for it..

Just because the old "smart dad" failed to do proper due diligence on the business, doesn't mean they can suddenly fall back on the value of their house to save them, which they believe "should fetch" 2x what they paid for it just 2 years before.

Hope they enjoy living in bedsits, because that is all they deserve.

 

[Temjin]

The folly of believing in the never ending boom:

Diary of a repossession: One couple describes the agony of losing their luxury £400,000 home in the credit crunch

Sad story indeed, I was hooked on the article while still at work. lol

But kudos to their sons who are willing to share the burden with their parents. Even know they are getting themselve into debt too.

I bet a lot of stories like this will become a common place over the next 2-3 years.

 

[wayneL]

 

[sinner]

I thought it was a bit naive. RE agent calls with offer 20k off asking price (so I assume 380k GBP offer), you decline indignantly and then refuse the bank their keys several times and finally hand them in just before you're gonna get kicked out and complain 'cos by that time all you could get was just over half of asking!

Boohoo you could've taken 380, more than double what you paid and walked away 50-70 up from what the bank wanted in the end after they tacked on "equity maaaate" and reposession fees! Used this to pay off the CC and you're done!

 

[prawn_86]

Nice vid Wayne