oh, gee does anybody remember that guys name, what is it, u know from Western Sydney Uni
Credit drives houses yes, but certain people can only tap a certain amount of credit. ......You renovate, you attract a different buyer who has a higher credit capacity.
I don't think its theory kincella. I just think that everyone wants a great lifestyle (myself included) but think that Australia is living beyond its means and our biggest purchase on that Australia credit card is housing (and I think I heard somewhere before that something like 50% of our foreign debt bill is on housing loans - don't remember the exact figure). I'm worried about the future of this country - the debt, and what can happen if house prices keep rising and wages don't rise as fast.
I'm worried about our short term focus as Australians and the lack of long term planning to deliver houses, food, goods, and a quality of life without prices rising of these things so it isn't just housing. Maybe I shouldn't - just worry about myself and my profit.
hello,
and who was that bloke who SOLD his apartment in Sydney a while ago, gee the mind has had a bad couple of days, whats his name, gee i should be getting these, it will pop up some time soon, remember he predicted 40% falls, escapes me
Oh I guess that if he had it still over the past year he would be down 4% rather than up 4% if he had it in cash.... how stupid of him.
Thousands need helping hand
31st May 2009, 10:45 WST
The Salvation Army has warned that charities are facing their worst crisis in more than 20 years as thousands of people face the grim prospect of unemployment.
WA divisional commander Iain Trainor said yesterday the organisation had been overwhelmed with requests for food and emergency financial assistance from people who were facing poverty for the first time because of job losses.
Many could lose their homes because they had taken out mortgages on low or no deposits when the economy was booming. Families who had donated to the Salvos less than a year ago were now requesting assistance.
In response to the many WA people hurting financially, The West Australian has joined the Salvation Army to launch The West Winter Appeal today.
The newspaper is urging West Australians to get behind the appeal to help those less fortunate this winter, typically the most difficult time for disadvantaged families. The Salvation Army funds a range of community services, including its city soup run, homeless shelters, counselling and a refuge for women who have suffered domestic violence.
Despite an unusual dip in March when the Federal Government handed out its stimulus payments, there has been a 25 per cent increase in requests for emergency relief from the Salvos’ support services so far this year compared with the same period last year.
There has been a 30 per cent increase in the value of clothing and furniture provided to needy families, averaging $40,000 a month, on top of a 40 per cent increase in requests for financial assistance.
Major Trainor said job losses in the mining industry meant there had been a noticeable number of former fly-in, fly-out workers needing help. Formerly prosperous small business owners were pulling their children out of private schools and moving to smaller homes to make ends meet.
“They are coming in with multiple problems, not just financial, not just that they can’t pay the bills,” he said.
“Their driving need is that they are just not coping. Many of them never in their lives thought they would need to turn to the Salvation Army.”
The St Vincent de Paul Society has also been inundated with requests for help.
“Anecdotal evidence from our volunteers who deliver welfare to the community has indicated that many people who once relied on seasonal, casual and part-time work in peak business periods have found this work not to be available,” St Vinnies fundraising manager Lucinda Ardagh said.
Major Trainor said there had last been significant demand from people who normally did not need charity in the 1987-88 recession.
DAWN GIBSON
Industrial land prices plummet, supply falls
28th May 2009, 6:30 WST
Land values across most industrial precincts have plummeted about 30 per cent in the past 12 months, with the knock-on effect of drying up supply.
Colliers International said a 3222sqm property in Kewdale recently sold for $1.44 million or $447/sqm ”” down from the $650/ sqm the seller paid at the peak of the market.
Colliers industrial sales executive Craig Rowe said the sale of the vacant site at 5 Burchell Way represented a 31 per cent contraction in land value.
If it's the first, what's next?nunthewiser...you are living up to your nick....
since when did industrial land have anything to do with this thread....
we are discussing housing....
industrial land has nothing to do with housing...and in fact industrial land is at the bottom of the list for most investors...it has its own unique set of problems at any time...and is always the first to tumble....in a recession...
you seem to be clutching at straws now
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