House prices to keep rising for years

[Soft Dough]

and while we at it lets hear what everybody else has if you believe some sort of pre-qualification is required to post

$0 in property

might change in 12-30 months, just waiting to see the fallout.

PS Steve Keen has until 2013. I would be surprised if it drops that far, but it definately has much further to fall, or will plateau for a long time to make at least 20-30% correction ( of which we have already seen 6% real and 2-3% inflationary )

 

[Santoro]

hello,

i live in 1 unit and rent out another unit as explained previously

thankyou
professor robots

oh dear units!!!....how are you champ?...posted to you 6 months ago saying I would post again after six months....that's now....still hanging in there I see....I'll get back to you in another 6 months (if you're still here) when unemployment is closer to peaking that will be when the real estate market will really be feeling it....nice to have made 70%+ in the last couple of months in shares.....a little better than real estate I guess....take care robots....

 

[robots]

oh dear units!!!....how are you champ?...posted to you 6 months ago saying I would post again after six months....that's now....still hanging in there I see....I'll get back to you in another 6 months (if you're still here) when unemployment is closer to peaking that will be when the real estate market will really be feeling it....nice to have made 70%+ in the last couple of months in shares.....a little better than real estate I guess....take care robots....

hello,

yeap I am still here unlike all the fellow members of your crew, remember these members:

WayneL, Kimosabi, Pepperoni, XAO, haven't seen Numbercruncher for a while, Chops a Must, Realist (who owned every stock in the world), Knocker

i think a few of them got cleaned out with dodgy email addresses

hows that Soft Dough is including inflation and Keen has moved the goal posts has he to 2013 now?

well done Santoro you wont get me or others knocking you on the performance or what you do in life, amazing

thankyou
professor robots

 

[Soft Dough]

hows that Soft Dough is including inflation and Keen has moved the goal posts has he to 2013 now?

thankyou
professor robots

Well perhaps if you read the link that you posted

"Dr Keen expects Australian house prices to plunge by 40 per cent within five years, double the drop in the troubled US market."

and I always include inflation in MY calculations as that gives a real indication of purchasing power.

 

[robots]

hello,

and the first paragraph of that article:

"An academic who expects zero interest rates within two years and a 40 per cent drop in house prices has promised to walk from Canberra to the top of Australia's highest mountain if he's wrong."

whats with inflation? get a pay rise

thankyou
associate professor robots

 

[nunthewiser]

Job security fears impact housing market

24th May 2009, 11:30 WST
Increasing concerns about job security are impacting on the property market, with people opting to spend less and delay buying, a survey shows.

The realestate.com.au Consumer Insights Buy report, which measures the perceptions of property buyers, showed 55 per cent of Australians have a high degree of concern about their job security.

Of the 2,665 people surveyed, 38 per cent said they would spend less on buying property, while 32 per cent said they would delay their purchase.

Realestate.com.au residential general manager Peter Wright said the online survey found one in two Australians were now looking to buy within the $200,000-$400,000 price bracket.

There had also been a four per cent decrease in the number of people looking to buy above $750,000.

"With increasing unemployment rates, job security is having a direct impact on many Australian families and their decision to buy," Mr Wright said in a statement.



just keeping it real man

thankyou

 

[nunthewiser]

Staff cuts expected at big companies: survey

25th May 2009, 12:30 WST



Nearly a quarter of Australia’s big companies expect to shed permanent staff over the next 12 months, while salaries in WA and Queensland are expected to be the hardest hit as the resources boom unwinds.

A national survey of 549 companies ”” with an annual turnover of more than $10 million ”” found the number anticipating staff cuts had trebled in the past year.

The finding led the Australian Institute of Management, which conducted the survey, to describe the times as “an increasingly uncertain and challenging economic environment”.

The institute’s salary survey found 23.5 per cent of companies that responded were planning to shed permanent staff levels during the next year, up significantly from 8.4 per cent in its 2008 survey.


just keeping it even more real man


thankyou

 

[Soft Dough]

hello,

and the first paragraph of that article:

"An academic who expects zero interest rates within two years and a 40 per cent drop in house prices has promised to walk from Canberra to the top of Australia's highest mountain if he's wrong."

Nope, you misquoted it. The bet is to do with house price decline, not interest rates.

move on you are wrong.

whats with inflation? get a pay rise

thankyou
associate professor robots

Sure a pay rise helps with income, but inflation will destroy the purchasing power of your assets.

You also assume that in an environment of increasing inflation and increasing unemployment, there will be wages growth at least equal to inflation.....

 

[robots]

hello,

and the first paragraph of that article:

"An academic who expects zero interest rates within two years and a 40 per cent drop in house prices has promised to walk from Canberra to the top of Australia's highest mountain if he's wrong."

thankyou
associate professor robots

hello,

pretty clear, not looking too good, zero interest rates by 2010

oh well, i hope Keen keeps entertaining us with Debtwatch and predictions

thankyou
associate professor robots

 

[robots]

hello,

great reporting Nun

remember its all sunshine and lollipops

thankyou
robots

 

[explod]

hello,

pretty clear, not looking too good, zero interest rates by 2010

oh well, i hope Keen keeps entertaining us with Debtwatch and predictions

thankyou
associate professor robots

Zero interest rates, what a load of absolute rubbish. Spose the next move will be minus 2% interest and perhaps after that the banks will even pay some of the repayments.

Would you also care to fill us in Robots on your letters, the academic experience and appointment details that entitle you to use the title Associate Professor.

 

[Soft Dough]

hello,

pretty clear, not looking too good, zero interest rates by 2010

oh well, i hope Keen keeps entertaining us with Debtwatch and predictions

thankyou
associate professor robots

http://wotnews.com.au/like/rory_robertson_vs_steve_keen/2766469/

no you are wrong... stop making yourself look like a fool.

"To make it interesting, I offered Dr Keen a challenge... On the maybe 1% chance that he is right, and capital-city home prices do indeed fall by 40% within the next five years - starting from Q2 2008, and as measured by the ABS - I will walk from Canberra to the top of Mt Kosciusko (that's maybe 200km followed by a 2228-metre incline). If Dr Keen turns out to be less than half right, as I expect, and home prices drop by (much) less than 20%, he will take that long walk"

"Sorry to interrupt. For the record, Steve Keen is keen to clarify that our bet is "peak to trough", as agreed, with no five-year limit . Obviously, I expect this distinction will not make a difference, with the ABS house price index likely to surpass its Q2 2008 level well within 5 years."

 

[robots]

hello,

apologies for the delay in getting new information out to people here at ASF:

http://www.morrellandkoren.com.au/topend/

weekly update, great seeing new australians participate in the fabulous life on offer in this country

another 20 mil could fit in here easy

special word out to Kincella and Beej who have been on the money for a long time now

thankyou
associate professor robots

 

[robots]

hello,

oh well, Keen's prediction of zero interest rates by 2010 not looking too good i think we at 4.25% cash rate

explod, a fellow student gave it to me for my efforts in plant molecular biology at LaTrobe University in 1996, i think quite a few people got them

all government data has been banned from use at ASF

oh well, how we looking still 7-8x average income to median price, i thought 3x average income to median price is a birth right?

thankyou
associate professor robots

 

[Dowdy]

Would you also care to fill us in Robots on your letters, the academic experience and appointment details that entitle you to use the title Associate Professor.

He's just a tool with an ego.




OZ property is already peaked. If your smart you'll get out now.

There are so many cracks in the fundamentals on property right now.
Government is inflating the bubble
Unemployment is increasing
Stamp duty keeps rising every year (I bet alot of speculators forget to add that to their price - that along with council rates, power, water, electricity, maintenance which also keep increasing etc)

There's not a shortage of houses - there's just an oversupply of speculators

 

[Soft Dough]

oh well, Keen's prediction of zero interest rates by 2010 not looking too good i think we at 4.25% cash rate

Yeah he looks to have got that one well and truly wrong, and I think his other once is set to fail too.

Thank goodness our reserve bank has looked at the problem in America and looks set to keep interest rates as high as possible to prevent overgearing at these lower levels.... pity our government isn't as savvy.

 

[MACCA350]

hello,

oh well, Keen's prediction of zero interest rates by 2010 not looking too good i think we at 4.25% cash rate

RBA cash rate is currently at 3%

cheers

 

[kincella]

hehahahaha......what a scoundrel

It seems that both Fortescue and the Forrest family have been indulging in a bit of property development to supplement that disappointing iron ore income, which still has a long way to go before it meets original forecasts

The lots were sold by Landcorp to Forrest's private company, Minderoo Pty Ltd, for between $165,000 and $240,000. He then tried to sell 10 of the lots on the open market as house-and-land packages at up to $1.25 million each.

http://business.theage.com.au/business/gfc-prunes-twiggy-of-8bn-20090525-bkuo.html

 

[kincella]

another gem....sounds like me into the future....

IN RECENT years, Jean Beaufranqui and his wife have spent most of their time in Menton, enjoying the sunshine and gentle Mediterranean breezes that have made this little town into a retirement haven.

And now, even as the world reels from its most painful economic crisis since the 1930s, Beaufranqui's thoughts have turned not to budget cuts but to buying an apartment here and settling in full time. As a retiree ”” he stopped working almost 19 years ago, at the standard age of 60 ”” the former metallurgist has sailed smoothly through the economic storm as the French Government regularly deposited his monthly pension payments

http://business.theage.com.au/busin...-in-a-french-welfare-haven-20090525-bkug.html

 

[kincella]

http://www.bankwest.com.au/fightingfund/

business loans at 4.99% for a year....whoo hoo...I will have to get myself some of that action...
this is a wow factor....should shake up the other monsters