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House prices to keep falling for years

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Many locals in CQ will be happy with the mining downturn. Many little CQ towns have gone from being the most affordable in the nation, to among the most unaffordable, with rents higher than inner-city Brisbane. With hundreds of miners losing their jobs and jetting back to the coast, locals will soon be able to reclaim their towns.
 
xoa said:
Many locals in CQ will be happy with the mining downturn. Many little CQ towns have gone from being the most affordable in the nation, to among the most unaffordable, with rents higher than inner-city Brisbane. With hundreds of miners losing their jobs and jetting back to the coast, locals will soon be able to reclaim their towns.
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Possibly short lived though, money is still being spent on infrastructure to get the coal to ships and out, so that is an indication that we are in a consolidation phase getting ready for the next run up.

Coal prices dropping? Well the companies were still making money before at $20 a tonne, exchange rates are better now and the cost of capesize and panamax is cheaper as well

Like I said in the post before, don't believe all you read in the media
 
Pommiegranite said:
Rubbish.
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Really?

A quick search found this



The Mackay region's mining section has received a much needed confidence boost with news that plans for a third coal port are continuing full steam ahead.

http://www.dailymercury.com.au/story/2008/12/19/dudgeon-point-coal-terminal/
New port in a storm

19th December 2008

* Print Print
* Smaller larger text larger | smaller

BUILD it and the coal will come.
The Ports Corporation of Queensland (PCQ) is looking into a third coal port at Dudgeon Point – and in a week when 400 miners were laid off , this was a concrete sign that both the Queensland Government and mining companies had faith in our resources  sector.
The “high-level planning” would look at how PCQ could use its 13,500 hectare block of land and what constraints there were in terms of flora, fauna and natural obstacles to a new coal export hub.
PCQ chief executive officer Brad Fish said the port, when built, would be “about the same size as Hay Point and Dalrymple Bay (coal terminals)”.
“We saw some years ago that there were issues that infrastructure was not there to meet the demand,” Mr Fish said.
The speed of the site’s development depended heavily on demand from coal companies and the expectation that the latest expansions of Dalrymple Bay Coal Terminal and Hay Point would eventually reach their limit.
Mr Fish said the port could be built to handle between 10 and 30 million tonnes of coal a year, depending on the levels of need.
“If the demand was there for 30 million tonnes, you would built it for 30 million tonnes.”
Mackay Regional Council Mayor Col Meng said the project, which sits between McEwans Beach and Louisa Creek, was the best option for the new port.
“I think Dudgeon Point isn’t a bad thing,” Cr Meng said.
“If we let them go elsewhere, there would be coal dust everywhere.”
The mayor said it also gave strength to the view that the current climate was not permanent.
“All the coal people have indicated that it’s short-term hurt,” he said.
The investigation of Dudgeon Point follows a rejected plan earlier in the year to run coal trains through Mackay.
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By saying "rubbish", I take it that you are saying no one will mine coal ever again?
 
knocker said:
And since when have mayors been a reputable source of information. Or even politicians.
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Did you miss this bit?

The Ports Corporation of Queensland (PCQ) is looking into a third coal port at Dudgeon Point
__________
PCQ chief executive officer Brad Fish said the port, when built, would be “about the same size as Hay Point and Dalrymple Bay (coal terminals)”.
“We saw some years ago that there were issues that infrastructure was not there to meet the demand,” Mr Fish said.
The speed of the site’s development depended heavily on demand from coal companies and the expectation that the latest expansions of Dalrymple Bay Coal Terminal and Hay Point would eventually reach their limit.
Click to expand...

PCQ are neither Mayors or Politicians

In addition there is this

http://www.budget.qld.gov.au/budget-papers/2008-09/budget-highlights-6-2008-09.pdf

Highlights
for 2008-09 include:

 $576.4 million for additional track works on the coal
network in Central Queensland, including $14.4 million
for the Goonyella to Abbot Point Expansion project, which
includes the Northern Missing Link subject to approvals
 $70 million to increase the capacity of Abbot Point Coal
Terminal to 25 million tonnes a year and a further
$250 million on the Abbot Point X50 Expansion, which
will increase capacity to 50 million tonnes a year
 $18.3 million for ongoing works at the RG Tanna Coal
Terminal and $5 million for feasibility investigations for the
proposed Wiggins Island Coal Terminal
 $45 million ($150 million over three years) to improve the
road network in the Bowen Basin region.
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plenty more infrastructure upgrades if you look
 
Lancelot said:
Really?

A quick search found this



The Mackay region's mining section has received a much needed confidence boost with news that plans for a third coal port are continuing full steam ahead.

http://www.dailymercury.com.au/story/2008/12/19/dudgeon-point-coal-terminal/


By saying "rubbish", I take it that you are saying no one will mine coal ever again?
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Did you purposely not respond to the part of your text which I higlighted in bold?

It's your inference that I put in bold. I don't dispute that a coal port may go ahead.

If only investing was that easy.
 
Pommiegranite said:
Did you purposely not respond to the part of your text which I higlighted in bold?

It's your inference that I put in bold. I don't dispute that a coal port may go ahead.

If only investing was that easy.
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From what I gathered at the hearing last week and from a few meetings I have been to recently, the mining companies are taking the opportunity of a slow down to do maintenance on equipment and infrastructure that has arguably been neglected previously due to just being to bloody busy.

Are you implying that this is not an indicator that they feel it will be a short lived?

If it was all over for the coal industry, why would companies and govt. be spending money on maintenance and infrastructure?

To me, this is
indication that we are in a consolidation phase getting ready for the next run up.
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What do you see it as an indicator of?
 
Meanwhile, in The Old Dart:

http://www.telegraph.co.uk/finance/...-to-32000-estate-agents-losing-their-job.html

Housing market crash has led to 32,000 estate agents losing their job
More than 30,000 estate agents have lost their jobs since the start of the credit crisis, according to research which highlights how the housing crash has wreaked havoc across the economy.

By Harry Wallop, Consumer Affairs Editor
Last Updated: 11:02PM GMT 26 Dec 2008

Around 4,000 estate agency offices -approximately one in four - have closed Photo: REUTERS
It means that almost half of the estimated 80,000 estate agents who were in work 18 months ago have since been made unemployed.
The job losses are the result of a dramatic fall in house prices and house sales during the past year, which has caused severe hardship for the thousands of estate agency branches dependant on a vibrant housing market.

Around 4,000 estate agency offices -approximately one in four - have closed, leading to the loss of jobs not just for the sales agents themselves, but also valuers, negotiators, weekend viewing staff, administrators and mortgage advisers.
Click to expand...
 
heard similar on the radio this morning...commentators were suggesting they will all go back to doing whatever they did before they became...ie agents, banking guru's or whatever....go back to being engineers, salesman, etc

its the way the cycle works....easy money is always attractive enough to entice some away from the old job

a survey recently said 80% of the world bankers had no prior experience in banking or finace......that made me shudder a little at the time
 
kincella said:
heard similar on the radio this morning...commentators were suggesting they will all go back to doing whatever they did before they became...ie agents, banking guru's or whatever....go back to being engineers, salesman, etc
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Nice theory, 'cept they're all getting sacked too. :eek:
 
Some other industries will boom .....


POLICE are bracing for a new wave of economic crimes driven by the financial crisis and rising unemployment, such as theft and burglary, after studying crime patterns from the previous downturn.

Senior officers have drawn on crime statistics from the 1990 recession, when so-called property crime jumped sharply, to pinpoint the types of offences expected to rise as the financial crisis deepens.
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http://www.theaustralian.news.com.au/story/0,,24845195-5006785,00.html
 
Lancelot said:
Meaning what?

Do you think it will only property owners being robbed and renters will somehow be immune?:rolleyes:
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Erm no geo, I dont know why or even how you would make that connection - if anything a home OWNER you would think on average would have better security and less theft ? or maybe home owners on average are wealthier and make more likely targets ? wonder ifthese stats are even recorded ?


Just providing ancedotal evidence to support the " House prices to keep falling for years " debate with economic downturn news .... :)
 
numbercruncher said:
Erm no geo, I dont know why or even how you would make that connection - if anything a home OWNER you would think on average would have better security and less theft ? or maybe home owners on average are wealthier and make more likely targets ? wonder ifthese stats are even recorded ?


Just providing ancedotal evidence to support the " House prices to keep falling for years " debate with economic downturn news .... :)
Click to expand...

hello,

those stats are definitely recorded Number, home owners are some 4 or 5x wealthier than the rent/invest crew,

i am surprised these numbers are still so out of wak considering its so cheap to rent i thought the renters might of saved some more $ but doesnt appear so,

thankyou
robots
 
robots said:
hello,

those stats are definitely recorded Number, home owners are some 4 or 5x wealthier than the rent/invest crew,

i am surprised these numbers are still so out of wak considering its so cheap to rent i thought the renters might of saved some more $ but doesnt appear so,

thankyou
robots
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hey robi. didn't you mention no need to pack heat in your glorious melbourne.....
http://www.theage.com.au/national/m...d-in-head-with-screwdriver-20081227-75pe.html and

http://www.theage.com.au/national/road-rage-sparks-double-stabbing-20081227-75pb.html

Wow great place to live. lol:p:

thankyou
 
Yah Melbourne has become crime capital of oz it seems @! very dangerous sounding place these days hey ....
 
hello,

was going to post this earlier today but thought against, but since you kicking off knocker thought I would join in:

http://www.theage.com.au/world/nint...oting-santas-killing-spree-20081227-75pp.html

yeah man we just like the united states of crap, didnt see santa at westfield doncaster popping nine dudes the other day

i got to Coles today a couple of times without getting popped at or running into any crackheads, glorious melbourne

thankyou
robots
 
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