House prices to keep rising for years

kincella · 20 April 2009

robots,
that is correct...have I told you about the multi multi millionare...who does property...in 1990 they were developing 100's of acres for building lots...he said all lots are now 'not for sale'..taken off the market....they will be put back on the market at my price...simple ..he was an individual...working alone...had amassed a massive fortune...old enough to retire...not interested in retiring....too interested in doing what he enjoyed...

it was not all about the money...but the money helped...a family memeber was very sick and dying....for 200k's just for the operation, they took her over to the US where she had the operation to save her life...there would have been substantial travel costs, and follow ups probably cost over 300,000 all up.....nice to have that sort of money handy...to look after your family....

I have a large family to look after........through sickness...they appreciate all my work that makes their lives so much better.....lost my brother last year...I had helped him for years....

Satonopera....I mentioned 2 books...which one are you interested in ?

satanoperca · 20 April 2009

Kincella,

The first 'the 7 habits of highly effective people'.

Currently reading "Changing your Thinking" by Sarah Edelman. Looks at how we deal with everyday situations and how we can change our perceptions & beliefs to make the decision process more effective and your life happier. A simple and easy read with plenty of real life situations that you can easily relate to.

I have been focused on removing procrastination from my life, getting there, only taken me hours to get these comments typed...

Cheers

Benjamin

kincella · 21 April 2009

he gives real life situations...I think it was in his book he talks about relationships...partner, children, colleages etc...and each must make a deposit, before they can withdraw....ie contributions....needed help around the house and thats how he got the children to help with the chores...ie by making deposits...
to be highly effective...you cannot spend too much time if the kids are playing up...
I found that bank idea very helpful with teenage children....
well I think it was that book...many years since I looked at it

the other book is a balance of plodding along, overcoming disabilites, and to achieve a good life...a fortunate life

kincella · 21 April 2009

down at the internet cafe..my new telstra wireless modem died, been playing up, every day, for the 50 days I have had it...drops out every day.....grrrrrr
10 days for them to post me a new one.....hope its not coming from the phillipines....where tech support was located......
so I may not be around much until the thing is fixed
cheers

robots · 21 April 2009

hello,

no worries Kincella, hang tight brother and enjoy the evening

thankyou
robots

moses · 21 April 2009

I've just been re-reading the first 3 pages of this thread. Fascinating.

darnsmall · 22 April 2009

So what happens if it becomes harder for our banks to loan money from China? Is this a non issue, they'll find it/print it elsewhere? I can understand why China needs to still capitalise the US but why Australia?

Beej · 22 April 2009

moses said:
I've just been re-reading the first 3 pages of this thread. Fascinating.

So moses - as this threads originator, what are your current thoughts? Where do you think the market is heading and how did the past 14 months fit in with your outlook/expectation back at the start of last year?

Cheers,

Beej

UBIQUITOUS · 23 April 2009

It's pretty obvious where the market is heading. Steerage passengers, last call to board RMS Titanic.

http://www.abc.net.au/news/stories/2009/04/23/2550219.htm?section=justin

Deadline looms for first homebuyers' grant

Posted 1 hour 42 minutes ago
Prime Minister Kevin Rudd has given a strong indication that the increase to the first homeowners' grant will not be extended past its June deadline.
Late last year the Government doubled the grant for first homebuyers, and tripled it to $21,000 for newly-constructed homes, to help boost the economy.
The boost to the grant is due to expire at the end of June.
Mr Rudd has told a community Cabinet meeting in Perth the increased grant always had a fixed and finite timeframe.
"It's had a real effect, we're still measuring its full effect, but I think it's very important that as a community we understand that deadlines are imposed for a particular purpose," he said.
"It's had strong useful results so far, but I've got to say, that all good things must come to an end."

MACCA350 · 23 April 2009

UBIQUITOUS said:
It's pretty obvious where the market is heading. Steerage passengers, last call to board RMS Titanic.

http://www.abc.net.au/news/stories/2009/04/23/2550219.htm?section=justin

Sweet, I've been waiting for confirmation it won't be extended

cheers

Beej · 23 April 2009

UBIQUITOUS said:
It's pretty obvious where the market is heading. Steerage passengers, last call to board RMS Titanic.

http://www.abc.net.au/news/stories/2009/04/23/2550219.htm?section=justin

It's good if they don't extend the boost. The FHB segment has moved from recovery to being a bit over-heated.

However, although you are suggesting that "the bell tolls" for the whole market on this basis (yet again), IMO the boost has provided enough stimulus that it will keep flowing through the whole market for another 12-18 months at least. By then we should be out the other side of recession (hopefully).

Cheers,

Beej

gfresh · 23 April 2009

nope.. GONE.. hot off the press

http://www.news.com.au/couriermail/story/0,23739,25373652-952,00.html

PRIME Minister Kevin Rudd has confirmed the first home buyers grant will not be extended past its deadline of June 30.
"We've indicated that that will conclude in a very fixed and finite timeframe," Mr Rudd said in a Perth speech reported by Sky News.

"It's had a real effect. We're still measuring its full effect, but I think it's very important that as a community we understand that deadlines are imposed for a particular purpose.

"All good things must come to an end."

Under the government's $1.5 billion first home buyers boost, the first home buyers grant was doubled from $7000 to $14,000 last October.

Those first home buyers who purchase a new home receive an extra $7000 to take the total cost of government assistance to $21,000.

The construction and real estate industries have hailed the boost with some calling on it to be continued.

They have voiced fears that if the grant is removed the real estate market will collapse.

dhukka · 23 April 2009

The data clearly shows that the FHB grants have propped up that segment of the market whilst investors continue to shy away. However, I think those expecting a collapse in real estate prices post June 30 will be disappointed.

Unless I have misinterpreted Rudd's statements, the grants will still exist, they just won't be the souped up version.

kincella · 23 April 2009

Finally back...onto my old adsl connection...this time its only 35 pm for the 12gb....will not go into the trouble with telstras wireless bb....on the phone since 9.00am today until 6.15 tonight trying to get the new modem to work,,oh and the next g mobile phone well they could not get that to work as a modem either...think problems with vista....wait until you have to talk to tech support....they ask a question, you answer, then on hold while they ask a supervisor....that went on all day...
only went over to the wirelss as tls told me to and it was faster and cheaper....wowo...it cut out so many times a day...
enuff for now
cheers

kincella · 24 April 2009

while interest rates are low...so for a 400k house at 8% = 32,000 interest bill, compared to a 600k house at 5% = 30,000 greater buying power if thats what you want....for the same cost or similar
while rates were rising it had less buying power....hence the prices were going down last year....
the blip on the radar...is if the govt keeps running up debt...then we lose the AAA rating and the banks would find the cost of borrowing higher...hence the interest rates may go back up.....bit like the game monopoly

robots · 24 April 2009

hello,

good to hear from you again kincella, tough going through times of hardship and most just get on with things instead of banging the hand out like the goons out the front of Coles looking for a free ride in society

some info on FHOG:

http://www.fahcsia.gov.au/sa/housing/payments/Pages/FirstHomeOwnersBoost.aspx

currently as of 1st July 2009, FHOG will revert back to 7k for both existing joint and a new joint, WOW

anybody got any data on places for sale this year as opposed to last year?

thankyou
associate professor robots

robots · 25 April 2009

hello,

good evening and best wishes to all,

check this man:

http://www.reiv.com.au/home/inside.asp?ID=162&nav1=652&nav2=162

HUGE 86% clearance rate today, this is just amazing

i am not sure what it all means but a massive result

anybody care to post some supply numbers compared to this time last year,

if you got it, hold onto it brothers because not many more being built

anyone know if the internet working in the UK yet?

thankyou
associate professor robots

gav · 25 April 2009

Median prices pretty high on both houses and apartments there Robots

robots · 25 April 2009

hello,

yes some good figures Gav,

you hit the gym today?

thankyou
robots

MACCA350 · 25 April 2009

TOTAL AUCTIONS
This week: 145
Last weekend: 427
This time last year: 363

Only 145 auctions
Only 40% volume of the same time last year and 67% less than last week........given the end of the FHB boost looming and such low volume I'm not surprised in the least with the clearance rate. Will be interesting post June 30

cheers

House prices to keep rising for years

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