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House prices to keep falling for years

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CamKawa said:
Look what happens when gov't bribes are pulled. I wonder if house prices will suffer a similar fate.
Motor vehicle sales in sharp slowdown
Click to expand...


saw that...pretty funny how dramatic a change.

imagine where we'd be without all the public spending. I work at australias most cash company...one that is in a far better position than most yet we are cut backs cut backs cut backs..i wonder whether private investment will pick up when public runs out..?
 
satanoperca said:
http://www.theaustralian.news.com.au/business/story/0,28124,25998050-36418,00.html


If this is the main stream thought we are fu?\!!!d.

Cheers
Click to expand...
It's true. Anglo economies have been built upon rising house price for the last few years. Think about how much consumption has been driven by mortgage equity withdrawal to get an idea.

If house prices continue to tank the economy will suffer heavily. This is the reason for the outrageous measures by gu'ments to prop them up.
 

House prices are too high. The economy is in trouble if they collapse. IMHO, best solution is that they stay where they are for 10 years, whilst incomes catch up. Personally I think the FHOG was an unnecessary boost - would have been better to allow some moderate falls instead.

As Wayne said, when prices rise, people draw down on equity, or just feel richer and spend more and save less. Hell, the bull market last few months has made me much looser with the old wallet. Let the wife buy a new dish scourer the other day
 
hello,

yeah that extra 7k is having a huge impact, righto

thankyou
professor robots
 
wayneL said:
Plus the rest.

If it's insignificant, let's take it away and see what happens.
Click to expand...

plus the interest rates that WILL rise.


PS
Anyone else getting phone calls from guys trying to sell property?

Looks like to me that even the developers (or whoever is calling) are getting worried and trying to sell their assets before they lose money
 
wayneL said:
Plus the rest.

If it's insignificant, let's take it away and see what happens.
Click to expand...

hello,

no rest, for existing homes it went from 7k to 14k, new builds from 7k to 21k

now many have shown the majority is going to existing property so 7k extra propping up? no just reality

sorry sorry, i know i know unemployment is going to hit 20%, interest rates going up to 20%, soup kitchens on the street, tent city at the Peanut Farm Oval in St Kilda

thankyou
professor robots
 

What's the point of it then? Let's ditch the policy and restore interest rates to sensible levels that don't screw savers to prop up the profligate.

Easy test isn't it? No FHOG and interest rates @ 6-8%.

Let's see what happens.
 
The fact is, government policy is to prop house prices, so enjoy it while it lasts.

Over and out.
 
From the above link - figures can be construed to give a image of what ever you want.
Weekly Auction & Sales Results, Market Overview
Saturday 29 August 2009

A total of 436 of the 620 auctions reported to the REIV sold resulting in a clearance rate of 85 per cent.
Click to expand...

From my calculation 436/620 = 70% clearance rate not 85% but then again they include an addition 100 properties sold before auction in the clearance results to get this figure.

Cheers
 
I agree with your sentiments wayne..this retail consumption driven economy of ours is just belony.Interest rates have to go higher and stay higher to reduce consumption spending on goods primarily from overseas.We are a very lucky country because of our resources but we should not offset this by thinking we can live this airy fairy consumption economy..
 
I see Baby Co have tanked one would think with the FH Bribe and baby bonus they would be on a winner are things that bad out there already?
 
satan opera....you guys really need a Plan B, if you are going to own a house sometime in the future....
I am afraid if you are pinning your hopes and dreams on articles as per your reference earlier this thread, and are reliant on a dramatic change in house prices, and massive change in government policy, to save you all....so you too can buy that inner city pad at a 50% discount...then I believe you will never get a house if you continue with those thoughts.....

psst stacks of those silly FHB's moved on, they went out into the suburbs, changed their plans, from having a similar attitude to most of you here, that absolutley house prices must come down, because you say so, to what a window of opportunity, how can I use it,......so creative and lateral thinking played a part....and rather than argue and debate....they got their houses....

another poster in response to that outlandish article summed it up nicely....

"Chris is drawing on the data and research that is available, and that data is showing a supply shortfall of about 40,000 dwellings per year. The research he presents from several independent sources comes to a similar conclusion. Against this you have an article full of misrepresentations (e.g. 830,000 empty dwellings and no evidence of a housing shortage) written by a cfd salesman."
here is the business spectators response to kris sayce....hmmm same initals as steve keen...

http://www.businessspectator.com.au...ument&src=is&is=Property&blog=Concrete Detail

obviously the negative house people need to change their thought process....instead of continually arguing against a trend thats been going on for over 70 years.....adapt that trend to suit your purpose....how about doing some reading of Edward DeBono with his lateral and creative thinking tools

http://www.edwdebono.com/debono/msg001.htm...

I would be interested if any of you on this thread actually have a plan B, and what plan B is.....oh and waiting for the house price crash is not considered a plan B......
 
hello,

hahaha. an article from a CFD salesman, man this is great stuff

if you want to get on board with the true purveyors of originality and forecasters then look out for posts from people like: Kincella, Beej, Professor Robots, Tech,

the ones who got it right

anyone know if the internet is back up and running in Brisbane yet?

thankyou
professor robots
 
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