House prices to keep falling for years

[tech/a]

I never said this was anything like the US, those in the property industry would call this a no brainer, it's coming down how far time will tell.

So I dont agree with you lets just let the market speak or itself over the next 12 months.

I am in the industry.
Civil Construction.
Project Developement.

And your in?

 

[lioness]

These types of people ??? You mean rational thinking people who have some experience in a market where things go elsewhere but UP ?

800% ??? geee that must have been the guy that found his boundary re aligned to take up the 3 houses adjoining.

Property will recover and go up again but it hasn't even gone down/crashed yet so don't rush in just yet.

I might as well talk to the cat.

You should be banned for arrogance.

Anyway, what are you expecting Melbourne inner city to fall Mr Burns?

 

[MrBurns]

I am in the industry.
Civil Construction.
Project Developement.

And your in?

More the real world, commercial agency for 25 years.

They tell me now the commercial market is stuffed with widespread redundancies underway in agencies and across all sections of the industry.

You would be ok with Govt contracts and more to come with infrastructure spending about to increase.

 

[MrBurns]

You should be banned for arrogance.

Anyway, what are you expecting Melbourne inner city to fall Mr Burns?

If that were the criteria Rudd should go too.
In fact I'll resign if he does.

Inner Melbourne, I cant really speculate on specific areas just from my experience overall from the last crash.

Not sure what happened last time Inner city but on the Eastern fringe Hawthorn etc dropped around 30% from what I remember, now I haven't got any hard evidence of that, it's just my recollection from then.

 

[nunthewiser]

You should be banned for arrogance.

QUOTE]

ROFLMAO!!! post of the year !

cheers i found that highly amusing

 

[arco]

Coast builder closes doors

12:00a.m. 14th November 2008

Troubled builder Marshall Thompson Homes (Queensland) Pty Ltd yesterday said it had closed its business in Queensland and appointed an administrator.

Director Graham Thompson said the company, which was headquartered in Adelaide but operated a subsidiary business from premises on Brisbane Road, Mooloolaba, had initiated a meeting with the Building Services Authority to advise of its intention.

“Management is proceeding to deal with its affairs in Queensland in an orderly manner in the best interests of all concerned,” Mr Thompson said yesterday. “We are not in a position to make any further comment at this stage.”

While final figures are not yet available, it is believed Marshall Thompson Homes (Queensland) owes up to $500,000 to suppliers and $400,000 to sub-contractors.

And staff who had been promised they would be paid what they were owed by last Thursday still had not received their money yesterday.

The company has 11 homes under construction from Brisbane’s northern outskirts to the Sunshine Coast.

http://www.thedaily.com.au/news/2008/nov/14/builder-closes-door/

 

[Mofra]

I known, the permabulls are hocked to their eyeballs in debt and are looking for anything to support their view no matter how strong evidence is to the contrary. They are completely deluded IMHO, just let them fall into negative equity and relax.

Cam, not everyone who owns property is geared up to the eyeballs and negatively geared.

 

[Mofra]

Property will recover and go up again but it hasn't even gone down/crashed yet so don't rush in just yet.

In some areas it has; you wouldn't want to incur the wrath of the other bears surely?

 

[Sunder]

Cam, not everyone who owns property is geared up to the eyeballs and negatively geared.

No, but permabulls are more likely to be than anyone else.

If you truly believed that shares rose 10% per year every year, and never went backwards more than 2-3%, how much would you borrow @ 7.5% or so to invest? Let me guess, as much as the bank would let you, minus about 2-3% to prevent margin calls?

Permabulls really believe their own tripe. They think houses double every 7-10 years and at worse "Ease" a couple percent between cycles. I remember someone on another house price crash forum calculated that if this 7-10 year rule was true, you could have bought a house on about 4 hours median wages back in 1900. (Their wages, not ours).

 

[MrBurns]

In some areas it has; you wouldn't want to incur the wrath of the other bears surely?

I meant "crashed" it's certainly gone down, but it's still early days yet.

 

[numbercruncher]

No, but permabulls are more likely to be than anyone else.

If you truly believed that shares rose 10% per year every year, and never went backwards more than 2-3%, how much would you borrow @ 7.5% or so to invest? Let me guess, as much as the bank would let you, minus about 2-3% to prevent margin calls?

Permabulls really believe their own tripe. They think houses double every 7-10 years and at worse "Ease" a couple percent between cycles. I remember someone on another house price crash forum calculated that if this 7-10 year rule was true, you could have bought a house on about 4 hours median wages back in 1900. (Their wages, not ours).

They worked out that the average Sydney house would be circa $180 million this year if that permabull lie was true ! - I think they worked on prices from about 1900 to now ....

 

[Glen48]

One big problem with RE is the owners think their precious house is some thing and therefore refuse to believe the data.
George Soros is now saying a very deep recession and possible depression.
2/3 of the Hedge Funds to fold very soon.
Given OZ home owners are living in the most expensive houses per incoem and we are more in debt that the Yanks but not as bad at Uk thinks just have to start going down soon.
Some woman on ABC today was saying the Domino's are starting to fall and yet to reach small to medium business.

 

[MR.]

One big problem with RE is the owners think their precious house is some thing and therefore refuse to believe the data.
George Soros is now saying a very deep recession and possible depression.
2/3 of the Hedge Funds to fold very soon.
Given OZ home owners are living in the most expensive houses per incoem and we are more in debt that the Yanks but not as bad at Uk thinks just have to start going down soon.
Some woman on ABC today was saying the Domino's are starting to fall and yet to reach small to medium business.

I know my soro but here's your soro link:

http://www.news.com.au/business/story/0,27753,24650136-14334,00.html

But this is Australia mate!

 

[CamKawa]

I know my soro but here's your soro link:

http://www.news.com.au/business/story/0,27753,24650136-14334,00.html

But this is Australia mate!

"Mr Soros, who reportedly earns more than $100,000 an hour as a hedge fund manager"

That maybe even more than one of our big 4 bank CEO makes - amazing.

 

[MrBurns]

Meanwhile back at Rudd's Travel Agency -

 

[gfresh]

Is he waving goodbye to Australia's economy?

 

[MrBurns]

Is he waving goodbye to Australia's economy?

Setting up a Swiss bank account in Yen for he and the missus so they can jump ship just before we go under, but dont worry he'll leave Swany in charge it'll be right mate.

 

[CamKawa]

Is he waving goodbye to Australia's economy?

Thats a good one. LOL

 

[cuttlefish]

Haha - good to see a bit of levity on a Friday arvo.

 

[robots]

hello,

gee, the poverty pack are going Bezerk

all this over a 3% return over the long term, what a day and great to see some solid contributions,

over and out, off to tennis

thankyou
robots