House prices to keep rising for years

[nunthewiser]

For people to purchase new homes, one needs to sell their existing.

.

rubbish

i have purchased a few homes over the years , i still own the original ones i used as collateral


p.s dear robots

amazing stuff re 7x income

record number of defaults , record breaking risng banktruptcies, charity services having to knock back ppl

sunshine and lollipops brothers

 

[Stan 101]

rubbish

i have purchased a few homes over the years , i still own the original ones i used as collateral

You, like me are a minority.

The majority of families sell a home and buy another. Based on figures from reputable data collators/collectors many of these families offload an established home and quite a few purchase new homes regardless of what Burn's fantasy figures claim.

Funny how BIS Shrapnel's forward data has been *amazingly* accurate over the years when stacked up against major building industry trade figures.

But then they aren't involved in fluff and multiple negative unfounded posts on a forum.


Cheers,

 

[MrBurns]

regardless of what Burn's fantasy figures claim.
Funny how BIS Shrapnel's forward data has been *amazingly* accurate over the years when stacked up against major building industry trade figures.
But then they aren't involved in fluff and multiple negative unfounded posts on a forum.
Cheers,

Didn't you see this ?

https://www.aussiestockforums.com/forums/showpost.php?p=448384&postcount=5450

I was a real estate agent for over 20 years, BS Shrappnel are industry hores but you believe what you like eh ?

 

[Julia]

For people to purchase new homes, one needs to sell their existing. But then again, what would BIS Sharapnel know?

Well, perhaps BIS Shrapnel might know more than you on this subject.

Nonsense to say people have to sell existing homes before buying anything else.
If that were true, it's hard to see where much of the IP market would come from.

 

[Stan 101]

Well, perhaps BIS Shrapnel might know more than you on this subject. [\QUOTE]

Clearly BIS Shrapnel do, That's why I believe them and not Burns off the cuff comments. I don't understand your attempted point. Please clarify.

Nonsense to say people have to sell existing homes before buying anything else.[\QUOTE]

So you seem to be agreeing with BIS Shrap in the first quote above, but now you don't? More power to you. I don't collate the data, I just have it sent to me every month. I tend to trust BIS and building industry figures over any other heresay considering their accuracy over the years.

 

[makingmoney]

this question can be easily answered by a book "financial iq" <---a must read...explain a different theory..in a quick summary..is it really the houses or reroperty that rises in prices or that it will take more worthless dollars in the future to buy the same house now..so inflation..some my say..i say since nixon took the us off the gold standard for a us currency u could say the change of guard..the dollar or all currencys seem 2 fall in price as times go on..all as in a sense of hyperinflation...as time goes on inflation will take a strangle hold of the dollar..please read the book it will help explain..it was written by robert t. kiyosaki

 

[Trevor_S]

it was written by robert t. kiyosaki

geeze... I wouldn't even wipe my.... okay I would wipe my ar-se with a book by him but only if robots paid me first

c'mon, anything by that guy might be a feelgood, group hugs all round kinda thing that they do on the somersoft forums but a treatise on economics ? I think not.

 

[makingmoney]

geeze... I wouldn't even wipe my.... okay I would wipe my ar-se with a book by him but only if robots paid me first

c'mon, anything by that guy might be a feelgood, group hugs all round kinda thing that they do on the somersoft forums but a treatise on economics ? I think not.

lol...wow jeez well being a no#1 author with rich dad poor dad..that is funny...maybe u should start publishing books

 

[MrBurns]

Let's' continue this discussion when the banks move in and reclaim their money.

 

[Bafana]

This property bubble is confusing me. Is there one or not?

Getting ready to buy a second house closer to my work in another town/provincial city and feeling nervous as all hell having seen Ireland go mental on house with bubble tea max in the late 90's early 00's when I was there working, and seeing what they are going through now.

With the stamp duty halved, fixed interest rates so low and having one house already debt free I feel like buying but am holding off cause it feels like Ireland again. The old adage of walks like a duck, sounds like a duck comes to mind but the extra commute is killing me. Anyone got any ideas?

 

[kincella]

for those of you who like to follow the US housing market

Housing starts jumped 17.2 per cent in May from April to a 532,000 annual rate, the Commerce Department said, more than twice the gain economists in a Dow Jones Newswires survey had expected.

Building permits, a leading indicator, rose as well. And single-family starts -- which economists tend to focus on for a less-volatile reading on housing trends -- rose 7.5 per cent from April, their third-straight rise.

"This adds to evidence that the housing market is no longer falling apart," said Mike Larson, an analyst at Weiss Research.

But the problems of the housing sector are far from over. Inventories are still far too high relative to sales, while layoffs and tight credit are holding back home buying. Meanwhile, mortgage rates have started rising.

"The inventory overhang means any recovery in building will be very muted for an extended period, but at least the very worst is over," said Ian Shepherdson, chief US economist at High Frequency Economics.

http://www.theaustralian.news.com.au/business/story/0,,25648936-36418,00.html

 

[gfresh]

This property bubble is confusing me. Is there one or not?

With the stamp duty halved, fixed interest rates so low and having one house already debt free I feel like buying but am holding off cause it feels like Ireland again. The old adage of walks like a duck, sounds like a duck comes to mind but the extra commute is killing me. Anyone got any ideas?

You tell us Interested in those who have had some overseas perspective.. Are conditions similar, or do you think they are different to what you have seen in Ireland?

Have read of people moving from the UK and still keen on buying here, so they must think conditions aren't quite the same as the UK to justify a safe purchase. Are people stupid to walk into the same trap or do they see indicators that are different here?

 

[Trevor_S]

lol...wow jeez well being a no#1 author with rich dad poor dad.

JK Rowling sold lot of books as well, I wouldn't be looking to her for economic advice either. You point it out yourself, publishing books is his thing, not being an investor / economist etc.

That aside, if your argument is one of equating popularity with quality, it holds no water, one just has to look to Macdonalds for the fallacy of that argument.

Kiyosaki is a fraud, he's about selling books, selling a myth /fantasy etc. As long as people realise that and treat the guy the same way they would any other inane "motivational speaker", then no problems... but you will find an argument when he is held up as a doyen of investment guidance. Best of luck to him on his book publishing business.

When people say to me they've read Kiyosaki, I say right, give that to Lifeline for their bookfest and go read "The Intelligent Investor" and "Millionare Next Door" instead.

 

[kincella]

so this will house another 681600 people at the rate of 2.4 per house
I saw something in the past week about Melb's population at 4.63 million
oh and the other posters insist the housing shortage is a myth......well tell that to the Vic State Govt...
think we are close to our 5 million population for Melb now...that was not supposed to happen until much later...

the govt has a 5 million plan....for the future and we are there now...

Land released to house Melbourne population boom
Article from: AAPFont size: Decrease Increase Email article: Email Print article: Print Submit comment: Submit comment AAP

June 17, 2009 02:39pm
THE State Government will release an extra 41,000 hectares of land for new housing to accommodate the population boom.

The extension of the urban growth boundary in Melbourne's north, west and south-east will accommodate an extra 284,000 new houses.

The draft plan also includes the proposed alignment of the outer metropolitan ring road and the regional rail link, which will include up to six new train stations in Melbourne's western suburbs growth areas.

Announcing the new boundaries today, Planning Minister Justin Madden said it was the most significant project undertaken to meet Melbourne's future housing and transport needs.

http://www.news.com.au/heraldsun/story/0,21985,25649858-661,00.html

 

[Bafana]

You tell us Interested in those who have had some overseas perspective.. Are conditions similar, or do you think they are different to what you have seen in Ireland?

Have read of people moving from the UK and still keen on buying here, so they must think conditions aren't quite the same as the UK to justify a safe purchase. Are people stupid to walk into the same trap or do they see indicators that are different here?

Sounds like a duck and walks like a duck.

With this one the government seems to be making it worse by encouraging it and pumping tax payers money in. What I feel is that if they have gone through the UK or Ireland bubble they will know that there are certain properties that are pretty immunish (keep their value relatively well).

The trick is working our which ones.

On my side I need a second house for work but don't know what to get as don't know what would be best suited to ride out the oncoming tsunami.

Any hints?

 

[Soft Dough]

Sounds like a duck and walks like a duck.

With this one the government seems to be making it worse by encouraging it and pumping tax payers money in. What I feel is that if they have gone through the UK or Ireland bubble they will know that there are certain properties that are pretty immunish (keep their value relatively well).

The trick is working our which ones.

On my side I need a second house for work but don't know what to get as don't know what would be best suited to ride out the oncoming tsunami.

Any hints?

You could always..... .drum roll please........ RENT..... ( cringes in the back corner as evil stares and gasps abound )....... "but rent money is dead money"

Well it shouldn't be as the market should have tanked by now, but the government keeps propping it up.... imho the saying should be rephrased " but income tax money truly is dead money"

 

[Taltan]

This property bubble is confusing me. Is there one or not?

Getting ready to buy a second house closer to my work in another town/provincial city and feeling nervous as all hell having seen Ireland go mental on house with bubble tea max in the late 90's early 00's when I was there working, and seeing what they are going through now.

With the stamp duty halved, fixed interest rates so low and having one house already debt free I feel like buying but am holding off cause it feels like Ireland again. The old adage of walks like a duck, sounds like a duck comes to mind but the extra commute is killing me. Anyone got any ideas?

Ok so this is not financial or any kind of advice because who knows what courts may construe in the future but in my opinion.

Firstly rent where you want to live, and if possible rent out the place where you currently reside. Now take the house that is debt free and mortgage it with a bank at residential rates of approx 6%. Then take the money and go buy shares in our big 4 banks. NAB & ANZ etc. have a p/e of about 9 at the moment so with franking credits your dividends will more than cover the 6% mortgage interest.

 

[Bafana]

You could always..... .drum roll please........ RENT..... ( cringes in the back corner as evil stares and gasps abound )....... "but rent money is dead money"

Renting will be dearer than me traveling the extra distance, beside renting out my existing house not an option as my olds are sickly and need a place nearer to town (doctors and the likes). Was thinking take mortage on the existing house and fixed loan on new one, or get olds to cough up intrest free loan to cover loan shortfall on the new house. Nearly like satrting over again ;-)

Also need to keep money aside to work the market as it gets better.

Suppose the more I delay the less advantage I can get.

 

[knocker]

Maybe we should change the title to council rates to keep rising for years to justify their existence

 

[knocker]

Where's robots?