House prices to keep rising for years

[juddy]

If they do this, where does it end? I will not take responsibility for poor risk management.

http://www.abc.net.au/news/stories/2009/01/22/2472016.htm?section=australia

 

[tech/a]

Many Gurus bought lots of properties in Port Pirie

You know where Zinifex resides.Mining boom = Property Boom.

Well seems Zinifex may not be operating in the future.

Mining failure = Property Failure.

There are some really high profile people exposed in these areas
Whyalla and Pt Augusta are others.---in SA

 

[IFocus]

I know of at least 4 current posters on another forum...sold their props/homes between 2000 - 2003...each called it the high of the market ?

Here in the west everyone I knew was scrambling to buy property after the dot com blow up.

Keep in mind the conditions that contributed to the run down to 2003 (stock market) was not a fraction of the current global conditions.

 

[numbercruncher]

Mining failure = Property Failure.

There are some really high profile people exposed in these areas
Whyalla and Pt Augusta are others.---in SA

haha got to love these dodgy gambles being referred to as "exposed" ....

BBQed high profile property gamblers are getting pretty common about the traps I see ?

 

[robots]

hello,

and then you have the others just plodding along kicking back enjoying life in all its glory as rents rise and prices rise,

oh, did i mention st kilda up 14.8% Sept08 Quarter

might get a doughnut with the coffee in the morning to celebrate the rental increase

nirvana

thankyou
robots

 

[numbercruncher]

Good to see you sneaking in some rent rises there Robi - more power to you man ! - I see your Melbourne peers arnt so inclined ....

LANDLORDS may have responded to the slowing economy by avoiding rent rises ”” taking pressure off tenants hit by double-digit percentage rises last financial year.

An Australian Property Monitors report said Melbourne house rents were stable in the six months to December 31, with the median asking price for houses unchanged at $350 a week. Units rose 1.6 per cent to a median of $315.

http://www.theage.com.au/national/rent-rises-halted-20090121-7mrj.html

 

[Mofra]

*Pops in, sees the thread is still tracking the exact way it was weeks ago, says hi, leaves*

 

[Trevor_S]

oh, did i mention st kilda up 14.8% Sept08 Quarter

http://www.homepriceguide.com.au/sn...r Urban&region_code=0301&state=VIC&source=apm

Median Units: St. Kilda. 6 Months to December 09 -5%

 

[wayneL]

http://www.homepriceguide.com.au/sn...r Urban&region_code=0301&state=VIC&source=apm

Median Units: St. Kilda. 6 Months to December 09 -5%

...and houses down 11%

Oooooer! That's crash speed.

 

[MrBurns]

http://www.homepriceguide.com.au/sn...r Urban&region_code=0301&state=VIC&source=apm

Median Units: St. Kilda. 6 Months to December 09 -5%

Thats December 08 and you're right DOWN 5% WOW

Therefore Robots should adjust his posts to read -

oh, did i mention st kilda units down 5% - 6 months to December 08'

 

[Trevor_S]

Thats December 08

Yes, you're correct, my mistake. I apologise, it was not a prediction of the future

That aside, if the six months period was down (-) 5% and Q3 was up 18% (as stated by Mr. Robots Esq.) then the Q4 median decrease must have been a real bitch, down (-) 23%

 

[juddy]

Hello,

:fan

Thankyou
Robots

 

[wayneL]

Hello,

:fan

Thankyou
Robots

Nah! It's a buying opportunity!

 

[numbercruncher]

Ooooh Robi looks like you will have to lower the rent on that damp mildew covered flea infested rental then ? might even have to tidy the place up a little to attract some hand out crew ? erm I mean tenants ...

Luckily Beej doesnt have these issues its like 10pc grossed up turbo boosted fuel injected wynns protected rentals down his way .. or something to that effect anyways ...

 

[nunthewiser]

*Pops in, sees the thread is still tracking the exact way it was weeks ago, says hi, leaves*

......... you know the funniest part tho


everyone still living in a house/? and stilll paying a mortgage /rent and still watching the stock market fall 50% while warming there cockles next to the fire in the house/? theyre paying for


amen

 

[wayneL]

......... you know the funniest part tho


everyone still living in a house/? and stilll paying a mortgage /rent and still watching the stock market fall 50% while warming there cockles next to the fire in the house/? theyre paying for


amen

Some are paying.

Some are overpaying.

 

[Indie]

This thread should be in the commodities section under "Gold", it's amazing how blinkered the RE permabulls are.

Everything the government does to prop up the false economy in housing is only a temporary delay of the inevitable. The housing market will crash and the rental market with it. The Aussie RE market cannot be sustained when the rest of the world economy is going down for a prolonged period. Employment, earnings, credit all come into play. I rate RE right along side banking and retail stocks as the worst investment you could make right now. Actually it's probably even worse since it traditionally requires an enormous amount of leverage which is the ultimate sin in a deflationary environment.

 

[nunthewiser]

Some are paying.

Some are overpaying.

oh indeed they are ........... but you may notice a funny thing here


most of the bulls left here are of the more "stayer" types that are not here for the "quick" real estate buck but to cash in on .........but there either homeowners doing there "thang" and enjoying this cheaper cash available .OR there prospective investors that are not ACXTUALLY buying but waiting .


personally bricks and mortar been very kind to me and can see the attraction in current days of smoke and mirrorsa offered elswhere


PS >>>>>>>> I AM NOT BUYING REAL ESTATE , have sold excess holdings BUT still believes that one cannot falter real estate as a long term holding

 

[nunthewiser]

would also like to say ............. for those that overextenede themselves with the fancy mortage and the fancy car to go with the fancy boat next to the maxed out credit card that paid part of the personal loan that was deposit for the holiday in fuji............



i be waiting for that mortagee auction and cant say that i care for this current snowball you have dragged my assets thru


avaniceday and buy ya place later

 

[wayneL]

oh indeed they are ........... but you may notice a funny thing here


most of the bulls left here are of the more "stayer" types that are not here for the "quick" real estate buck but to cash in on .........but there either homeowners doing there "thang" and enjoying this cheaper cash available .OR there prospective investors that are not ACXTUALLY buying but waiting .


personally bricks and mortar been very kind to me and can see the attraction in current days of smoke and mirrorsa offered elswhere


PS >>>>>>>> I AM NOT BUYING REAL ESTATE , have sold excess holdings BUT still believes that one cannot falter real estate as a long term holding

Sure! I think 99.9% agree with the general idea that RE is a great long term investment and handy as a spot to set up camp. I'm still holding stuff I bought 10 years ago and am not a seller (perhaps I should have been, but it's too late now for spec profits. I'm more of a yield investor). I'm still a buyer... at intrinsic value or under.

I just don't see RE at anything near intrinsic value. Some areas are getting closer over here, but still a ways to go.