House prices to keep falling for years

[nunthewiser]

Whats Pommie's saying is that people will for example pay $700 a week rent in a place that they could be paying off the full loan for at $500 a week.

i.e. investors will have positive geared property from the outset because sentiment is so bad due to falling prices and low confidence that people would prefer to pay $200 a week more to rent vs buying, rather than risk taking a big loan for something that will fall in value.

I think that the scenario is likely but it usually comes about through both a combination of falling prices, fallilng interest rates and rising rents all working together - its not solely caused by the price falls alone. The balance varies depending on location.

thanks cuttlefish

 

[generalofthearmy]

Priceless

Actually, I think it's more a philosophy on life. Everytime I freak out about my stocks being -70% I just think `STOP! St Kilda is actually up 14.5% for the quater nothing to fear, I'll put my money in the St Kilda bubble! Yay'.

Q: Mummy! Where do babies come from? A: `Well, St Kilda is up 14% darling, does that explain things?'

Makes good pub conversation too. Keeps the ladies entertained for hours. Just the other day I had this girl give me the look after only several minutes of expounding upon the virtues of `St Kilda up 14%'. She started tossing her hair and making all the moves. After that evening's horizontal entertainment I resumed my discourse, and promised to set her up with Robots, the founder of this profound philosophy. It can really change your life.

 

[gfresh]

My experience would indicate otherwise. I'm looking for a new place to rent in Brisbane and prices seem to have gone through the roof. The place I'm in now is increasing from $280/w to $310/w and the landlord has absolutely refused to negotiate, saying that it's in line with the current market.

Yeah, low $300's seems to be the going rate in inner Brisbane for something like that, well same down here too. You could move though and shove it up their ****, what's a few km out?? inner city in any city in Oz is exxy.. people in Bris have just had it easy for a long time.

I think people like to read the papers and go "oh goodie, it says in the Courier Mail there is a rental crisis! let's jack up the rent by 10%". Of course though, people just have to pay the price, renters don't have a say unless they have the upper hand. Again, one where sentiment rules.

You can buy in Toowong for low 300's.. That's why I'm starting to think inner city will hold up fine in that bracket, but hey, who knows in 6 months time, we'll be in recession then It'll sort the indebted and comfortable quite quickly.

To be honest, I haven't experienced too much pressure on the coast. They wanted to up my last place by 4.5% (inflation, woopdee). Moved a month or so ago, looked at two places, got one right away.. few bucks more, but take out petrol saved and it worked out about even. Then again, I'll move 10's of km away if the distance/price equation is compelling enough, I don't fall in love with suburbs, but I guess that's not the norm these days.

 

[chops_a_must]

The place I'm in now is increasing from $280/w to $310/w and the landlord has absolutely refused to negotiate, saying that it's in line with the current market.

hello,

have you tried stealing his underpants?

after all, we're here to help

thankyou,
chopbots

p.s. - cool username. *thumbs up*

 

[awg]

Hookers are never out of work in Grey Street, guess that is why the values are holding up

Robots will have fun when he pops in at his usual time

maybe thats why St Kilda is up 14%

good cheap place to run non-approved brothels

isnt that supposed to be a counter recesionary industry

 

[robots]

hello,

just a reminder, St Kilda up 14.7% for Sept 08

whats the title of the thread?, the contributions have been great today and I hope everyone has a smile on their face

keep the goodwill going strong brothers, spend up tomorrow

get that new pair of shoes, plasma, bag of lollies, slab of ruskies whatever gives you that tingly feeling

thankyou
robots

 

[numbercruncher]

Did we have some sort of official article showing St Kilda up 14.pc in sept or ?

how many sales ?


thankyou

 

[robots]

hello,

just keep in mind Number, people here are celebrating the negative results of this document

g man posted it earlier, probably pg80 or so

so its only fair that all figures are considered factual,

actually same document that has Toorak down +20% and Melton up 6%


thankyou
robots

 

[Warren Buffet II]

hello,

just keep in mind Number, people here are celebrating the negative results of this document

g man posted it earlier, probably pg80 or so

so its only fair that all figures are considered factual,

actually same document that has Toorak down +20% and Melton up 6%


thankyou
robots

News!!! News !!! St. Kilda down 50% in 2008, check the latest RE report. Melbourne council is receiving property for a fee from owners which properties are now worth 1/10 of their mortgage. Also Commonwealth just set up a new real estate office to put all their foreclosure properties for sale or lease. Leasing a 5 bedroom with 4 baths for $200 a month. This is real check with robots the latest CBA report page 102.

Australia down 40% in 2009 check the previous report from HGF page 52.

What a piece of crap this thread, no fundamentals and this guy robots just keep posting crap and crap and the worst thing is that is ALL FALSE. I did not know confine psychiatric hospital have internet this days.

Keep up your game mods and make this a worth forum.

WBII

 

[nunthewiser]

News!!! News !!! St. Kilda down 50% in 2008, check the latest RE report. Melbourne council is receiving property for a fee from owners which properties are now worth 1/10 of their mortgage. Also Commonwealth just set up a new real estate office to put all their foreclosure properties for sale or lease. Leasing a 5 bedroom with 4 baths for $200 a month. This is real check with robots the latest CBA report page 102.

Australia down 40% in 2009 check the previous report from HGF page 52.

What a piece of crap this thread, no fundamentals and this guy robots just keep posting crap and crap and the worst thing is that is ALL FALSE. I did not know confine psychiatric hospital have internet this days.

Keep up your game mods and make this a worth forum.

WBII

please provide links or verification of your claims otherwise u just another jive talkin honky in my book chief

ps do u really have to resort to attacks in every post or is normal courtesy and manners beyond your reach

thanks champ

 

[Warren Buffet II]

please provide links or verification of your claims otherwise u just another jive talkin honky in my book chief

ps do u really have to resort to attacks in every post or is normal courtesy and manners beyond your reach

thanks champ

Well, well, well, that is the kind of crap that you and robots keep posting day after day. No fundamentals, no links juts crap.

WBII

 

[nunthewiser]

Well, well, well, that is the kind of crap that you and robots keep posting day after day. No fundamentals, no links juts crap.

WBII

LOL ok my turn to be attacked now hey ??? blessya son ..but if u scroll back i have not ramped property in fact pointed out numerous times the opposite .

now look darl , just because im the only one left on this forum u havent attacked yet dont mean ya can .ok ?

 

[sinner]

http://www.abc.net.au/news/stories/2008/11/06/2412630.htm

Real estate agent Adrian Gordon, who is the licensee of Lifestyle Choice Realty in Sydney's north-west, says he is seeing property prices fall by as much as 15 to 20 per cent in his area, well above the national average.

An interesting statistic...

But he says landlord status, even if only for a temporary period, is not part of the core business of St George, and economic conditions in Australia have not deteriorated as much as they have in the UK and US.

"Our first priority is to keep the homeowner in the house," he said.

"That really is the absolute last resort that we would respond to that, you know, we've got a portfolio of 450,000-plus houses.

"We've only got 80 houses in repossession. So, you can clearly see that the economic cycle is pretty strong still in Australia and also clearly it is not a policy of option."

 

[Warren Buffet II]

LOL ok my turn to be attacked now hey ??? blessya son ..but if u scroll back i have not ramped property in fact pointed out numerous times the opposite .

now look darl , just because im the only one left on this forum u havent attacked yet dont mean ya can .ok ?

Nunthewiser is not about you, it is about the crap that people keep repeating time after time and which is false and does not add anything to the forum.

The reality is prices are going down as simple as that.

WBII

 

[nunthewiser]

News!!! News !!! St. Kilda down 50% in 2008, check the latest RE report. Melbourne council is receiving property for a fee from owners which properties are now worth 1/10 of their mortgage. Also Commonwealth just set up a new real estate office to put all their foreclosure properties for sale or lease. Leasing a 5 bedroom with 4 baths for $200 a month. This is real check with robots the latest CBA report page 102.

Australia down 40% in 2009 check the previous report from HGF page 52.

What a piece of crap this thread, no fundamentals and this guy robots just keep posting crap and crap and the worst thing is that is ALL FALSE. I did not know confine psychiatric hospital have internet this days.

Keep up your game mods and make this a worth forum.

WBII

Nunthewiser is not about you, it is about the crap that people keep repeating time after time and which is false and does not add anything to the forum.

The reality is prices are going down as simple as that.

WBII

well your first post is false in my book as you cannot verify it via a link or any other credible means

i dont think your constant abuse of posters here is adding much value to the forums

i think you running to the mods asking for ppl to be banned for posting there opinions because you dont like them offers anything to the forums either

i have never disputed house prices falling

thankyou and that is the end of our discussion as im going back to bed

 

[CamKawa]

Nunthewiser is not about you, it is about the crap that people keep repeating time after time and which is false and does not add anything to the forum.

The reality is prices are going down as simple as that.

WBII

I agree, all they post is rhetoric and they look past facts. It's called confirmation bias and it's a powerful force.

 

[CamKawa]

By the sounds of things they are having trouble virtually giving houses away.

They come, they look and they leave as buyers beware

The last paragraph sounds about right IMHO

"At Highlands in Craigieburn, you can get a house and land deal for just $249,000. They will even throw in a $5000 shopping voucher if you buy before November 9. Enough to buy a LCD television, but it probably won't help much if you sign up for a mortgage then lose your job."

 

[ROE]

Wise men learn by other men's mistakes, fools by their own.

A fool sees not the same house that a wise man sees

 

[robots]

I agree, all they post is rhetoric and they look past facts. It's called confirmation bias and it's a powerful force.

hello,

fact:

st kilda up 14.7% for sept08 Quarter,

have a great day man

thankyou
robots

 

[gfresh]

I agree it has turned into a bit of a chat thread recently, but still there are facts and figures posted in here when available.

Latest fundamentals.. number of listings going up, and up, and up.. RP Data says "this is a sign vendor confidence has well and truly improved". Really, sure it doesn't mean no homes are selling and people are desperately trying to sell up regardless?

We've seen this exact same thing right before prices tumbled in the US and UK, so could be a warning signal.