House prices to keep falling for years

[MrBurns]

hello,

thanks for the kind words go nuke, just reality man

yes can people give us there personal experiences with RE through the last recession,

thankyou
robots

Just under 40% in the early 90's ? prestige inner city property Melbourne - this is far far worse.

 

[robots]

I hope the interest rate drop yesterday doesn't drag too many people back into the property market, this is the property equivalent of a sucker rally.

hello,

yes, same here Mr Burns

i hope investors en masse stay right out of property,

thankyou
robots

 

[robots]

hello,

my girlfriend had property in Elsternwick and things went quite well, although areas like Mt Eliza got smacked,

did you have property Mr Burns?

thankyou
robots

 

[MrBurns]

hello,

my girlfriend had property in Elsternwick and things went quite well, although areas like Mt Eliza got smacked,

did you have property Mr Burns?

thankyou
robots

Just under 40% in the early 90's ? prestige inner city property Melbourne - this is far far worse.

Also had commercial property interests, I got out my partners went bankrupt.

 

[awg]

hello,

this is the great thing,

no loans being taken up, new construction is being smashed

i hope it stays low as, wonderful times ahead in this country with those holding real assets that have real returns going to kill it,

with a IR drop of say 1% over the past 2-months and MASSIVE RENT INCREAES all of a sudden those holding have had a huge bonus,

any questions fire away

another day in utopia

thankyou
robots

dude, I admire your perseverance!

I disclose owning investment property, and I wont be selling.( I hope)

but if you are negative geared things are FAR from rosy.

if you dont mind me asking a personal question, are you (neg geared)?

If you think rent hikes are coming, I would have to disagree.

maybe in the short term, but if the economic **** hits the fan, the capacity to pay will be diminuished.

have you seen how Koreans live in Sydney? hint 8 per unit, brother.

check Rent Assistance rates from Centrelink

best regards

 

[robots]

hello,

oh good, what suburb were you in?

thankyou
robots

 

[Aussiejeff]

I just saw some absolute brainless tosser from the REINSW (real estate institute) saying that house prices would start their revival this weekend.

The main stream media are useless as well , thank goodness for the ABC.

Shhhh! Be vewwy vewwy quiet, Mr Burns.... that was Wobots Big Bwuvver....

:hide:

 

[explod]

I hope the interest rate drop yesterday doesn't drag too many people back into the property market, this is the property equivalent of a sucker rally.

Spot on, I have always known it as a "mugs rally" It is created to allow the so called wealthy smart money to get out because they missed the first one due to having such a good time on the ealier ones.

I would not want to be holding the bag from about next March next year though, so for all of you who missed the bus earlier in the year there is some time but it will not last long.

Sorry Robots but I have been down this track a few times before. However do not dispair, in three years time there is going to be some great property bargains around on the Peninsula for both of us. I'd keep away from the sea level area though, Greenland in particular is going down the pipe in more ways than one.

Give my regards to your old mate Enzo, a most wonderful ramper he is.

Love it. Cheers IM very HO of course...Explod

And as they say at Safeway, have a good day

 

[robots]

hello,

good to here from explod, hope everybody has a good day

live in 1 unit and rent 1 unit which is negative geared, i am just a humble building worker just plodding along in life thanks awg,

i was talking about previous rent increases,

i am sorry explod dear friend but havent we heard all those predictions before, 3 solid years on the previous thread which closed because it go so damn embarrassing for many,

have a good day

thankyou
robots

 

[MrBurns]

Let me put it this way, if you are too geared to handle a 50% drop get out while you can.

Just saw Keane on the ABC he also agrees with my view on interest rates.

 

[pepperoni]

hello,

live in 1 unit and rent 1 unit which is negative geared, i am just a humble building worker just plodding along in life thanks awg,

2 Units!? Building worker?? You would be miles ahead TODAY with 1 if not none. Have you ever done the math??

Plus those rate hikes must have hurt for the last year or so!

Its quite ironic that this is exactly the sort of speculation that has lead to so many US and now european banks folding and going under!

 

[pepperoni]

Let me put it this way, if you are too geared to handle a 50% drop get out while you can.

Just saw Keane on the ABC he also agrees with my view on interest rates.

Was going to say this to robots ... sell one before the rose coloured glasses stop working!

 

[MrBurns]

2 Units!? Building worker?? You would be miles ahead TODAY with 1 if not none. Have you ever done the math??

Plus those rate hikes must have hurt for the last year or so!

Its quite ironic that this is exactly the sort of speculation that has lead to so many US and now european banks folding and going under!

Buying 2 units is a great way to go, at the moment though if the gearing is high dont hang around, if not ride it out.

 

[robots]

2 Units!? Building worker?? You would be miles ahead TODAY with 1 if not none. Have you ever done the math??

Plus those rate hikes must have hurt for the last year or so!

Its quite ironic that this is exactly the sort of speculation that has lead to so many US and now european banks folding and going under!

hello,

great posts keep them coming,

and the smacking the shock exchange is receiving must be making many from the rent and invest crowd real happy as well,

i will enjoy the ride and the roof over my head in 30 yrs time as I walk the streets

thankyou
robots

 

[Kauri]

Nearly one in six US homeowners owe more on a mortgage than the home is
worth, according to the Wall Street Journal.

n sobering
...............Kauri

 

[Lucky_Country]

Nearly one in six US homeowners owe more on a mortgage than the home is
worth, according to the Wall Street Journal.

n sobering
...............Kauri

How many australians are in that position or will be soon ?

 

[Mofra]

I hope the interest rate drop yesterday doesn't drag too many people back into the property market, this is the property equivalent of a sucker rally.

Doubt it - more likely just save a few of the residents of the outer-suburban back-waters that McMansion fanciers seem to gravitate towards. Who would have thought buy now, pay later Harvey Norman/GE schemes could be so damaging?

Actually drove out to one in NW Melbourne a couple of weeks ago - depressing areas, don't know how people live there.

 

[robots]

hello,

good evening fellow australians,

howzat, Aussie Loan is dropping 90 basis pts and Nab has smashed its fixed rate loans,

markets reckon another 75 basis pts coming soon as well, Fantastic

any questions fire away

thankyou
robots

 

[chops_a_must]

any questions fire away

How you think no doc, no deposit loans and all other substrates will fair without a MBS and insurance market?

 

[robots]

hello,

what a great first up question chops,

most likely they will be tweaked around the edges, I hope that answers your question

thankyou
robots