House prices to keep falling for years

[numbercruncher]

Morning Robi !

Yes carnage on the X change ! gotta be good for house prices ?

Hard to dodge all the forsale signs in QLD these days ...... quite an eyesaw, these sellers should have to compensate us hard working tax payers for the inconvienience !


Cheers.

 

[theasxgorilla]

See the final bastion of the Australian RE permabull is going down the gurgler .....

For me it's starting to look mighty cheap!

Based on currency movements alone house prices have fallen about 10%...and if I can get one of those nifty ex-pat loans financed in EUR at ECB rates I reckon I'll be positively geared from day one.

Australia is on sale.

 

[CamKawa]

See the final bastion of the Australian RE permabull is going down the gurgler ......

http://www.news.com.au/travel/story/...014090,00.html

The last delusional saving grace for the permabulls has come to end. Where to now for them?

 

[pepperoni]

Has anyone else notices robots spam monopost has changed from "house prices will never fall" to "house prices wont fall as much as the shock market".

This is all the evidence I need that the property outlook in Aus is decidedly less than it was .

 

[pepperoni]

For me it's starting to look mighty cheap!

Based on currency movements alone house prices have fallen about 10%...and if I can get one of those nifty ex-pat loans financed in EUR at ECB rates I reckon I'll be positively geared from day one.

Australia is on sale.

Just wait - if they slash our rates its gonna be a 2 for 1 sale.

 

[pepperoni]

See the final bastion of the Australian RE permabull is going down the gurgler ......




http://www.news.com.au/travel/story/0,26058,24458448-5014090,00.html

So boring being right all the time !!

Cant blame them either ... these are the smart ones that realise there is more to life than spending nearly every last cent to buy a roof over your head.

What crisis?

 

[Temjin]

Has anyone else notices robots spam monopost has changed from "house prices will never fall" to "house prices wont fall as much as the shock market".

This is all the evidence I need that the property outlook in Aus is decidedly less than it was .

This is all the evidence I need that we are close to pass the "denial" stage of the cycle. What's the next stage? Anger right?

 

[CamKawa]

This is all the evidence I need that we are close to pass the "denial" stage of the cycle. What's the next stage? Anger right?

According to this chart it's fear.

 

[gfresh]

This is all the evidence I need that we are close to pass the "denial" stage of the cycle. What's the next stage? Anger right?

Aren't we already touching on that stage? blaming the RBA for not lowering rates, or not fast enough. Blaming the banks seems super popular at the moment.

 

[Tysonboss1]

Well afters years of commentary on ASF predicting Massive property price falls, It seems to be the share market that is shot to pieces.

I for one am glad that I never listened to the Mob and sold all my property and ploughed the proceeds into my share portfolio.

My share portfolio is looking a bit like bonnie and clydes get away car, shot to pieces and ozzing red.

 

[pepperoni]

1% rate cut ... should suck a few more people into 30 year mortgages based on 30 full years of bountiful hay making.

 

[Temjin]

Well afters years of commentary on ASF predicting Massive property price falls, It seems to be the share market that is shot to pieces.

I for one am glad that I never listened to the Mob and sold all my property and ploughed the proceeds into my share portfolio.

My share portfolio is looking a bit like bonnie and clydes get away car, shot to pieces and ozzing red.

That's strange. I don't recall "the Mob" telling you to sell all your properties AND put it ALL into the share market. You must be referring to a different mob I presumed.

 

[Mofra]

That's strange. I don't recall "the Mob" telling you to sell all your properties AND put it ALL into the share market. You must be referring to a different mob I presumed.

Probably referring to the mob that was telling everyone just to panic sell ASAP(even if you hold a positively geared property & even if you would trigger a massive CGT event by doing so)

100 points, smiles all round

 

[gfresh]

100 points, smiles all round

For some I'm peeved I'm about to earn a big whack on the interest I earn each week, hassle free.

May have to consider the property merry-go-round myself soon than I thought.. sigh.

Woohoo! house prices to $1m each! party party party! :

 

[Mofra]

I'm peeved I'm about to earn a big whack on the interest I earn each week, hassle free.

The government is hell-bent on punishing savers (ie responsible people), annoyed the hell out of me for a long time until I joined the dark side or (ahem) "responsible gearers".

Still rent though - paying non-deductable interest is just stupid.

 

[pepperoni]

Still rent though - paying non-deductable interest is just stupid.

Interest on PPOR isnt really deductable.

On top of that you need to find properties you want to own forever ... if you can great for you .... otherwise rent is a fraction of interest and transaction cost.

 

[Mofra]

Interest on PPOR isnt really deductable.

That is also my understanding; I rent where I live but hold investment properties (actually, I like living in older places that have higher maintenance bills, so having a landlord/property manager a phone call away comes in quite handy sometimes). Put simply, the cost of renting my home is cheaper than renting the money (and paying for maintenance) to pay for it.

On top of that you need to find properties you want to own forever ... if you can great for you .... otherwise rent is a fraction of interest and transaction cost.

Again, totally agree. When you consider how long most people hold property, rushing just to "get into the market" is just plain silly, as would selling into a panic if you can comfortably hold/are positively geared.

 

[pepperoni]

That is also my understanding; I rent where I live but hold investment properties (actually, I like living in older places that have higher maintenance bills, so having a landlord/property manager a phone call away comes in quite handy sometimes). Put simply, the cost of renting my home is cheaper than renting the money (and paying for maintenance) to pay for it.


Again, totally agree. When you consider how long most people hold property, rushing just to "get into the market" is just plain silly, as would selling into a panic if you can comfortably hold/are positively geared.

My last owned house had a leaky tap that I put off sorting for months ... this house they get sorted in 24hrs with one email. And free which was nice when hot waer went.

As for buying, last place I bought to live in I hated within days ... lucky it was a reno project certain to make money or it would have been long term misery.

Last house I almost bought was near the zoo .. it was a tranquil cul de sac all week and then a parking lot from early sat and sun Only found out later but was glad I missed it.

I always joke how you get a better chance to check out a 12k car with long lonely test drives than you do with the best house being rushed by other buyers and agents.

Next place I buy Im camping in the front yard for a week.

 

[Mofra]

I always joke how you get a better chance to check out a 12k car with long lonely test drives than you do with the best house being rushed by other buyers and agents.

Next place I buy Im camping in the front yard for a week.

Reminds me of the couple that bought a "shell" penthouse in Eureka Tower (Melbourne Southbank) for $6m. They actually slept in the shell overnight to see if they liked it first. Amazing how many people buy a house only to find little "quirks" after they move in.

And agents used to look at me funny when I turned every light in the house on

 

[robots]

hello,

yes yes crew here we go, what another fantastic day in australia,

had to pull the ironhorse up when i heard the news just to double check what the RBA done,

so far we have:

high unemployment - nowhere to be seen

high interest rates - just been smashed by 100 basis pts, man another nail in the coffin,

any questions fire away homies

thankyou
robots