House prices to keep falling for years
- Thread starter Pommiegranite
- Start date
- Status
numbercruncher
Beware of Dropbears
- Joined
- 12 October 2006
- Posts
- 3,136
- Reactions
- 1
But you need to allow for when they are back up to 9%+, but atleast I'll have money left over to spend on bait so I can go fishing.
Nah its a new paradgim ! 2pc interest rates and endless tenants paying 10pc yield !
Get in before its too late !
- Joined
- 4 November 2007
- Posts
- 292
- Reactions
- 0
10%!!!!!!!!! Gotta get me some of those tenants.
But you need to allow for when they are back up to 9%+, but atleast I'll have money left over to spend on bait so I can go fishing.
No I didn't factor that in silly me
no wonder I sold all my properties last year oh well I'm price out forever now but I believe in god so hopefully he make house price come down again
so I can buy it again cheaper...
- Joined
- 3 January 2007
- Posts
- 940
- Reactions
- 2
Plus endless capital growth @ 10% p.a. if interest rates is so low! $$$ for everyone! Paradise is coming!
hello,
man, I am going to have to start hitting people up for copyright here
will contact the internet forum authorities to speak about intellectual property royalties,
have a great day, enjoy the cut at 2.30pm will tune in the wireless to hear the decision, i am on 75 basis points
thankyou
robots
man, I am going to have to start hitting people up for copyright here
will contact the internet forum authorities to speak about intellectual property royalties,
have a great day, enjoy the cut at 2.30pm will tune in the wireless to hear the decision, i am on 75 basis points
thankyou
robots
- Joined
- 10 July 2004
- Posts
- 2,913
- Reactions
- 3
hello,
man, I'll see your 75bp and raise you 25.
love this poker game.
thankyou
ozziebots
wayneL
VIVA LA LIBERTAD, CARAJO!
- Joined
- 9 July 2004
- Posts
- 25,591
- Reactions
- 12,716
Im turning japanese
I think Im turning japanese
I really think so
Turning japanese
I think Im turning japanese
I really think so
Im turning japanese
I think Im turning japanese
I really think so
Turning japanese
I think Im turning japanese
I really think so
I think Im turning japanese
I really think so
Turning japanese
I think Im turning japanese
I really think so
Im turning japanese
I think Im turning japanese
I really think so
Turning japanese
I think Im turning japanese
I really think so
- Joined
- 5 January 2008
- Posts
- 556
- Reactions
- 0
- Joined
- 10 July 2004
- Posts
- 2,913
- Reactions
- 3
Yeah. I reckon Bernanke's eyes have been getting squinty of late
... ---------------
Dec. 1 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke said he has “obviously limited” room to lower interest rates further and may use less conventional policies, such as buying Treasury securities, to revive the economy.
The U.S. economy “will probably remain weak for a time,” even if the credit crisis eases, Bernanke said today in a speech in Austin, Texas. While the Fed can’t push interest rates below zero, “the second arrow in the Federal Reserve’s quiver -- the provision of liquidity -- remains effective,” he said. http://www.bloomberg.com/apps/news?pid=20601087&sid=ajcLVDMwN5To&refer=home
---------------
Well, well, well. Now we see what will happen to OUR Li'l Ozzie Econ when WE have run out of any more room to make further interest rate cuts (say, in 12 months time - or less?)
Save your house hunting pennies till then....
I'm all in 1.25 .. look like property going to double again not in 7-8 years but maybe as little as 5 years
.... it's the fastest rate cut ever in Australia history so the usually 7-8 years double now need to speed up to 5 years Only properties will goes up ..don't invest in shares now it's keep going down the drain....interest rate cut only helps property investors doesn't help anyone else.
- Joined
- 10 July 2004
- Posts
- 2,913
- Reactions
- 3
I'm all in 1.25 .. look like property going to double again not in 7-8 years but maybe as little as 5 years
Only properties will goes up ..don't invest in shares now it's keep going down the drain....interest rate cut only helps property investors doesn't help anyone else.
Indeed.
My CBA Cash Management interest rate seems to have dropped to around 5% if my monthly interest payment is to be believed. Only 2 months ago it was still around 6.5%!!
At this rate, I may as well pull my cash reserves out and stash it under the mattress by the end of Jan 2009! Where is this all heading? There's no point in having money in a bank if it pays you less than the fees and inflation take out. Will the Rudd GuvMint guarantee the cash I hide under my mattress?
For the burgeoning numbers of self-funded retirees and pensioners who rely heavily on more conservative cash accounts etc (especially in hard-hit super), the plunge in bank interest rates will be all bad and the negative flow on effect to the economy (less money earned through interest=less money spent by pensioners/retirees) will be huge - probably easily off-setting any gains made by home mortgage holders (who will be more likely to try and pay more off their mortgages with any further interest rate cuts, rather than spending it on consumables). All this at a time when DEFLATION is starting to stalk the planet.
IMO of course.
I'm all in 1.25 .. look like property going to double again not in 7-8 years but maybe as little as 5 years
Only properties will goes up ..don't invest in shares now it's keep going down the drain....interest rate cut only helps property investors doesn't help anyone else.
First: I was under the impression housing doubles every 10 or so years..
Second: With lending rates almost non existant in both UK and the US and property still falling what makes you think we are so special?
I am keen to buy some property myself but i'm just not so sure..
Auction clearance rates over the weekend were simply terrible and I believe that the current downward plunge in Perth/WA may be the cancerous start to the bigger picture....
no way cant happen it..it's DIFFERENT here
we have all the money in the world to keep the price double every 7-8 years
everyone else has money problem but not Aussie.
Aussies maybe out of a job but we still have money to jack up the price.
The world maybe in recession but Aussie never will, we got dirt to ship to the Chinese and they dont want it any more but still we got money, lot of it
if we run out we just print some more like Pauline Hanson once said...what money problem? we can solve it by go to the mint and print more.
numbercruncher
Beware of Dropbears
- Joined
- 12 October 2006
- Posts
- 3,136
- Reactions
- 1
Average Aussie is now lighting the BBQ with $100 bills just for giggles !!
House prices to double annually
DOW down 8pc last night, Aussie RE up 8pc this month ....
Just read the newspapers, every money renting reporter in the nation is predicting the same thing .....
Ozi Ozi Ozi !
House prices to double annually
DOW down 8pc last night, Aussie RE up 8pc this month ....
Just read the newspapers, every money renting reporter in the nation is predicting the same thing .....
Ozi Ozi Ozi !
- Joined
- 10 July 2004
- Posts
- 2,913
- Reactions
- 3
Average Aussie is now lighting the BBQ with $100 bills just for giggles !!
House prices to double annually
DOW down 8pc last night, Aussie RE up 8pc this month ....
Just read the newspapers, every money renting reporter in the nation is predicting the same thing .....
Ozi Ozi Ozi !
:bananasmi :bananasmi :bananasmi
Just ignore ROE - he just thinks he is being clever, by repeating over and over a mantra ("house price double every 7 years!"), that no-one around here has ever actually said or argued. He really is in the "house prices will crash and we will turn into Japan and the sky is falling etc etc" camp, which to me looks just as ridiculous and unlikely as his current smart-ar%e rubbish.
In terms of looking to buy - if you are in WA/Perth I would wait for a while - but do watch the market closely. It's not all about statistics - the stats can provide one view of the market but that doesn't mean you will find the place YOU want to buy at some low price (unless you are not at all fussy). The way to take advantage of property downturns is to be out there doing your research, ready to pounce when the distressed sale of a place you want pops up (or hangs around for a while). Crunch your numbers if it works for you (eg, it would be cheaper to buy than to rent into the future), then go for it. Remember even if house prices only just out-pace inflation, you will still have made a solid investment (due to the leverage).
Does anyone here think a house will be worth less in say 20 years than it costs today????
Don't be overly influenced by all the BS and negativity in forums like this one and the internet in general. Do your own research on the ground. Remember many people here have a vested interest in a property crash (eg how many posters here are also active on the Global Housing Price Crash forum?), although of course many are quick to label any with differing opinions on the outlook "property spruikers!".
Cheers,
Beej
numbercruncher
Beware of Dropbears
- Joined
- 12 October 2006
- Posts
- 3,136
- Reactions
- 1
Yes they are pesky doomsdayers making up stories !
We must never let them threaten our ultimate pyramid scheme (those pesky bankers tightening the standards have us nervous though) ..
Every young person is a potential buyer, tell them tales of never ending richness.
The money renting crowd will reign supreme ! Accomodtion for the masses at 8x income is the norm ! Its different here , we have Koala's !!!!
And anyhow, in the absolute worst case the Government will bail us out.
Just busy flippin Mcmansions for loose change folks!
We must never let them threaten our ultimate pyramid scheme (those pesky bankers tightening the standards have us nervous though) ..
Every young person is a potential buyer, tell them tales of never ending richness.
The money renting crowd will reign supreme ! Accomodtion for the masses at 8x income is the norm ! Its different here , we have Koala's !!!!
And anyhow, in the absolute worst case the Government will bail us out.
Just busy flippin Mcmansions for loose change folks!
- Joined
- 4 November 2007
- Posts
- 292
- Reactions
- 0
I did.
People have to live somewhere and the shift for decades has been from government provided housing to private rentals. This is why they allow negative gearing, it's cheaper than having to actually provide the housing. All you doomsday group paint the picture that people will be living in the streets and parks on mass. Can see it now, people fighting over cardboard boxes and tin sheets.
professor_frink
Moderator
- Joined
- 16 February 2006
- Posts
- 3,252
- Reactions
- 5
It shouldn't really be an issue for anyone that's an owner occupier. Unless of course the house you currently live in is the only one to lose value whilst every other one in the country charges ahead. Owner occupiers should actually look forward to that as a possibility when they sell and upgrade down the track
- Status
