House prices to keep rising for years

[MR.]

14/3/09

Beej,

Yes, that's what happened. No pre-auction offers but 5 FHB's who were dead keen and turned up but all froze on the day(probably because it was bucketing down with rain!).

Agent is confident of selling over the next 2 weeks. I will keep you informed.

Cheers.c:

Lioness,

How close have the offers been?

 

[Glen48]

Spoke to a debt collector today (he was working for me) he told me no one has any money and they are having a hard time trying to collect money, things have turned for the worst in the last few months.
I guess if they repo any thing it is pointless sending it of to auction.

 

[robots]

hello,

good evening to you brothers, coming to you loud and clear from sunny Mt Martha

check check: www.rpdata.com.au

wow, house prices to keep rising for years well and truly, units up 3.6% in Melbourne, houses up, great results across australia

fantastic, well done to all out there and the research from the likes of Beej, Big Bill M, King Kincella, Robots, Gfresh and other ASF punters appears to be a true indication

spot on crew, bricks and mortar, bricks and mortar, bricks and mortar

thankyou
robots

 

[robots]

hello,

coming to you loud and clear from sunny Mt Martha, I hope you can all hear me

wow, 12-18mths on from the sub-prime, 6mths on from gfc and the best hit RE took was -3% or so last year on the medians

i know i know its going to take another 12mths, 18mths, 24mths it always follows the stock exchange, always follows the stock exchange

internet back up and running in the UK yet?

yes we different alright, no guns, no crack, no stooges just good clean honest living, Paradise

thankyou
robots

 

[Snakey]

hello,

good evening to you brothers, coming to you loud and clear from sunny Mt Martha

check check: www.rpdata.com.au

wow, house prices to keep rising for years well and truly, units up 3.6% in Melbourne, houses up, great results across australia

fantastic, well done to all out there and the research from the likes of Beej, Big Bill M, King Kincella, Robots, Gfresh and other ASF punters appears to be a true indication

spot on crew, bricks and mortar, bricks and mortar, bricks and mortar

thankyou
robots

Its called a bulltrap... wake up and smell the roses

 

[Beej]

Its called a bulltrap... wake up and smell the roses

Oh dear - another thread irregular posting irrelevant stock market based analysis and trying to apply it to the residential housing market - which is a completely different beast as discussed over and over in this thread.... Eg, for a start, you can't live in your shares.....

Beej

 

[moXJO]

Oh dear - another thread newbie posting irrelevant stock market based analysis and trying to apply it to the residential housing market - which is a completely different beast as discussed over and over in this thread.... Eg, for a start, you can't live in your shares.....

Beej

Its based more on emotion, not shares.
Tulips anyone?

 

[Beej]

Its based more on emotion, not shares.
Tulips anyone?

Oh - you can live in Tulips can you????

Beej

 

[moXJO]

Oh - you can live in Tulips can you????

Beej

Doesn't Bob Brown and all those lefties

 

[kincella]

hmmm....sounds like the 'manufactored crisis' that Obama was a fan of all these years....is snowballing....and engulfing all in its path.....

probably never seen so many scaredy cats...all huddled together, hiding behind their screens....joining in the chorus, peddling manufactured stuff, and spreading it around......

meanwhile out in the real world...well life just goes on
:sheep::sheep::sheep::sheep::sheep:

 

[moXJO]

hmmm....sounds like the 'manufactored crisis' that Obama was a fan of all these years....is snowballing....and engulfing all in its path.....

probably never seen so many scaredy cats...all huddled together, hiding behind their screens....joining in the chorus, peddling manufactured stuff, and spreading it around......

meanwhile out in the real world...well life just goes on

You really love property huh:

 

[Glen48]

Terry Mc Crann? tells us there is no need to reduce rates and the RBA should keep rates on hold...I think things are worst than the RBA realise and we should get another 1%... the G20 are praising Rudd for his ability to keep Oz strong and doing the right thing they must not know about the FHO however housing is still strong apart from being in a recession all is rosy.

 

[TradeDaily]

Maybe we should start a thread called "Milk prices to keep rising for years" and you guys can come on there and argue how obsurd such a notion is...

 

[kincella]

good one...but then you would have them all saying...cows have been around for 100's of years..so why should the milk cost more now...it should be the same as 100 years ago....you know 5 cents a pint or something...

or we could try it with a cars thread....do they question why cars cost more today ?

 

[satanoperca]

I think you will find cars are cheaper today in comparison to average wages than they were 25 years ago, largely due to mass production become highly efficient and an oversupply - just have to look to the US.

I don't think anyone is trying to argue that housing should costs the same as 25 years ago unless inflation is taken into account + 1% p.a for CG and then there might be some discussion.

Kincella, while you have debated the merits of housing as an investment long term extremely well, most people are not looking towards the long term but rather is housing something to be purchased now or in the next few years.

Like all asset classes, housing growth over the last decade has been pushed along by cheap and easy credit, economic growth and low unemployment. These three conditions are changing and it is hard to believe that housing is not going to reset itself like the other asset classes.

Would you please answer this : Would you suggest that I should buy a PPOR at the moment or wait until the true effects of the GFC are understood with reasons for your decision?
Renting at the moment is still cheaper for my family than owning again.
Both my wife and I work as professionals with one child and have no debt.

I will not regard your reply as financial advice, but an opinion.

Cheers

 

[moXJO]

I'm not too sure if you guys are saying there are no cycles in housing based on sentiment or what?

Or that the normal rules of snakey's chart don't apply, when they obviously did at the height of the boom with buyers going mad. And subsequently, valuations are now a lot less then what they were in my local area and surrounds.

I think satano summed it up in his post.


Cars don't apply, you can live in your car

 

[TradeDaily]

think you will find cars are cheaper today in comparison to average wages than they were 25 years ago, largely due to mass production become highly efficient and an oversupply - just have to look to the US.

and housing is dearer today because of an undersupply, increased immigration and dealing with a finite resource (land)...

Or that the normal rules of snakey's chart don't apply, when they obviously did at the height of the boom with buyers going mad. And subsequently, valuations are now a lot less then what they were in my local area and surrounds.

they do apply however I would say they are a lot more 'cushioned' because of the factors mentioned in my comment above. If you are waiting for house prices to come down 50% then I think you are misguided...

 

[kincella]

satanoperca...
Its your decision...based on your situation, goals etc....and that of your partner that is important.
I think this year is probably the hardest to predict.....interest rates going down is a huge window IMO, but your job is more important atm....no one needs to rush into housing...plenty of time for things to be sorted out....and return to normal...but subdued...
I state on a regular basis..there will always be a bargain out there, or affordable housing...seek and ye shall find is my motto...
I would like to see anyone thats been wanting to buy a house...to keep saving that deposit....when you know your job is safe...then go looking...and probably spend at least one day every weekend for 3 months..going to inspections to guage first hand what is available....
I dont care about waiting for a huge drop, or picking the bottom of the market...you have a price range and you find the best in that range...and you do it to suit you...

I am in a different position to the young ones...I am semi retired, I have a passive income for support....I do not rely on a job...(might have to rethink that one and consider more work) I have backup plans...plan b and plan c...
but the similarity we do have is the need for housing and in my case a solid income for full retirement.
If you have read my other posts recently....I have another 30 odd years to go, and self supporting...so my choice of investment is paramount to my success.
:sheep: because I like sheep.....other times I would prefer a flying pig

 

[robots]

hello,

coming to you loud and clear from Mt Martha, hope everyone is well its a great environment down here on the Mornington Peninsula

how is Keen's bet with Rory going?

will probably just keep rolling over the term like many with their own predictions of DOOM, another 12mths, another 12mths, another 12 mths

oh well, great sunny day on the cards for tommorow

thankyou
robots

 

[kincella]

Hi there Robots....lovely 30 degrees here again today....
only some of them are going through this fabricated crisis....and even though I like cats....there sure are some 'scaredy cats' out there in the jungle.....
oh yes...a gain OZ wide last year of 3%...and yesterdays news of gains in Melb and Syd...which to me are the most important states, if ones looking for direction....on anything...
I just want those pesky interest rates to drop again next week..and then it will be a small party again for some of us
cheers
:sheep: just cause I like them too