Australian (ASX) Stock Market Forum

House prices to keep falling for years

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That 1.3% means nothing, its a MOM figure and like you said probably is mostly refinances and maybe a couple of silly FHBs getting turned into debt slaves - YOY homeloan figures have been absolutely smashed.
 
Beej said:
Bogus stat - what about their superannuation savings?? ;)

Beej
Click to expand...

What superannuation savings?

At the start of '08, six of my mates were eagerly looking forward to and talking about retiring this year or the next.

None of them is now contemplating that vanished opportunity, because ALL their super funds "savings" have been screwed over. Every last one of 'em, mate (all around 30-50% DOWN). They have years of unwanted slog ahead of them now while they wait and hope like hell their crushed nest eggs can be patched up somehow.

My widowed mother-in-law (in a low care dementia unit) has seen her "nest egg" reduce from $230,000 to $160,000 in the space of a few months. Great.

Let's hope the Super scene has improved markedly before it is your turn to bail.

Maybe the stats are not so bogus after all.....


chiz,


aj
 
I heard thing are so bad on Manhattan Island there is a class action being setup by the owners to sue the Indians for they beads and trinkets they paid for the place in the first place.
 
Glen48 said:
I heard thing are so bad on Manhattan Island there is a class action being setup by the owners to sue the Indians for they beads and trinkets they paid for the place in the first place.
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hello,

wouldnt surprise me Glen48 in that land of gunslingers and crackheads,

got anything on Aussie land yet?

thankyou
robots
 
robots said:
hello,

wouldnt surprise me Glen48 in that land of gunslingers and crackheads,

got anything on Aussie land yet?

thankyou
robots
Click to expand...


Hows the shoot em ups and Ice heads going in Melbourne Robi ?

Kids with knifes going psycho, underbellys , Cops blowing the "bad" guys away .....

More violence than new york mate, no wonder youre RE is crashing through the floor, the pesky buggers are all flooding to Quensland to escape the hardcore violence and drugs.

I guess youre getting all the Immigrants that just sold their cheap shacks overseas though ?
 
numbercruncher said:
Hows the shoot em ups and Ice heads going in Melbourne Robi ?

Kids with knifes going psycho, underbellys , Cops blowing the "bad" guys away .....

More violence than new york mate, no wonder youre RE is crashing through the floor, the pesky buggers are all flooding to Quensland to escape the hardcore violence and drugs.

I guess youre getting all the Immigrants that just sold their cheap shacks overseas though ?
Click to expand...

hello,

st kilda up 14.7% Sept08 Q, what a crash Number

thankyou
robots
 
Aussiejeff said:
What superannuation savings?

....

Maybe the stats are not so bogus after all.....
Click to expand...

Tell sad stories all you like - most peoples super have taken a big hit (my own included), all the more reason why you should be aiming to own your own home well before planned retirement. And all the more reason you would have been better off investing in R/E 3-4 years ago when all these great debates first started on this forum vs having invested the same amount in the stock market.

BUT, to say "what super savings?" is a crock and you know it. There is still something in the order of ONE TRILLION $ invested through Australia's superannuation accounts. That's quite a lot of national savings that are routinely ignored in the national savings rates statistics.

Beej
 
Median price in my suburb of Sandgate (Brisbane) has fallen an incredible 23% over the past quarter. "For sale" signs popping up everywhere as speculators rush to sell. Rents are getting very cheap too - 1 bedroom units can be had for less than $200pw. Permabulls are blaming the weather, as though it's never rained before.

Sadly I'm moving to Townsville next month, I'll be interested to see what happens there.
 
xoa said:
Median price in my suburb of Sandgate (Brisbane) has fallen an incredible 23% over the past quarter. "For sale" signs popping up everywhere as speculators rush to sell. Rents are getting very cheap too - 1 bedroom units can be had for less than $200pw. Permabulls are blaming the weather, as though it's never rained before.

Sadly I'm moving to Townsville next month, I'll be interested to see what happens there.
Click to expand...

What's the year/year median price change xao? Quarterly stats, as demonstrated clearly many times throughout this thread, can swing wildly, especially if there are low sales volumes in a given area. You need a decent sample size to get a proper read on where median prices are at. For every suburb like yours there are also suburbs in Brisbane where the median has gone UP 30/40% in the last quarter - but does that lead us to conclude prices as a whole have increased by that much? Of course not.

Beej
 
robots said:
hello,

st kilda up 14.7% Sept08 Q, what a crash Number

thankyou
robots
Click to expand...


We have a link for that statistic or was that on the Radio ? Maybe it was in the local highschool news letter ? the principle is a Investor liquidating his portfolio and thought hed talk it up maybe ?
 
xoa said:
Median price in my suburb of Sandgate (Brisbane) has fallen an incredible 23% over the past quarter. "For sale" signs popping up everywhere as speculators rush to sell. Rents are getting very cheap too - 1 bedroom units can be had for less than $200pw. Permabulls are blaming the weather, as though it's never rained before.

Sadly I'm moving to Townsville next month, I'll be interested to see what happens there.
Click to expand...


haha and once the rainy season passes theyll blame the week long drought ..... then hopefully they go bankrupt and we deport them back to mexico.
 
prawn_86 said:
Thats old news by now robots, we're nearly through the next quarter
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hello,

thats right Prawn, almost thru next quarter and then the next and the next and the next,

I will hang my hat on this and cop it sweet if things change on the next

thankyou
robots
 
xoa said:
Median price in my suburb of Sandgate (Brisbane) has fallen an incredible 23% over the past quarter. "For sale" signs popping up everywhere as speculators rush to sell. Rents are getting very cheap too - 1 bedroom units can be had for less than $200pw. Permabulls are blaming the weather, as though it's never rained before.

Sadly I'm moving to Townsville next month, I'll be interested to see what happens there.
Click to expand...

I love how people on here keep referring to property investors as "speculators". You don't call people who buy and hold shares as speculators. It may surprise many people but there are still some out there who are holding on to shares despite 50%+ fall in price because they have a buy and hold strategy and look long term. So if the same happens in housing, what's the difference?? If someone is 30 years away from retirement, why panic and sell an investment property/ies now? Would someone who paid $8 for BHP 7 years ago be complaining now?? Maybe, but they haven't lost anything. Property is long term.
 
hello,

you keep typing in the wrong suburb Numbercruncher,

St Kilda not St Kilda East, you cant be a good mod if you bend the truth like this all the time,

thankyou
robots
 
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