House prices to keep rising for years

[kincella]

knocker saying the opposite camp talks bs.....and prices wont rise above inflation.....thats so funny...I guess you dont like the facts for house prices over the last 20 years either....
think there was a part in that report...that said prices rose far higher than inflation...or words to that affect

guesssing you dont have a back up plan, or a plan B.....happy for you to stick to your ideas....I know of people who sold out before 2000, they bragged they had picked the top, and would get back in at the bottom.....they are still waiting...

 

[satanoperca]

guesssing you dont have a back up plan, or a plan B.....happy for you to stick to your ideas....I know of people who sold out before 2000, they bragged they had picked the top, and would get back in at the bottom.....they are still waiting...

Sorry only a Plan C, D & E. Like to spread my risk. Plan B completed and Plan A actively at work.

Cheers

 

[kincella]

Robots...I just noticed your signature....wow so you stopped short of Warren Buffett...he is Charlie Mungers best mate....why is that...?
.......................................................................................................
Professor Robots: the George Soros and Charlie Munger of the Aussie Property Scene

.......................................................................................................

 

[knocker]

knocker saying the opposite camp talks bs.....and prices wont rise above inflation.....thats so funny...I guess you dont like the facts for house prices over the last 20 years either....
think there was a part in that report...that said prices rose far higher than inflation...or words to that affect

guesssing you dont have a back up plan, or a plan B.....happy for you to stick to your ideas....I know of people who sold out before 2000, they bragged they had picked the top, and would get back in at the bottom.....they are still waiting...

really we will see champ lol

 

[knocker]

Robots...I just noticed your signature....wow so you stopped short of Warren Buffett...he is Charlie Mungers best mate....why is that...?
.......................................................................................................
Professor Robots: the George Soros and Charlie Munger of the Aussie Property Scene

.......................................................................................................

Should add BS extraordinaire to his long line of accolades ROFLMAO

 

[So_Cynical]

for satanopera.... a history of house prices from 1986 to 2006...two decades and you still have questions ? what don't you believe about those prices, what is going to change those figures for the next 2 decades.....

http://www.aph.gov.au/library/pubs/RN/2006-07/07rn07.pdf

The opening paragraph of the linked document says it all

"House prices in Australia have risen substantially over the past 20 years, far
outpacing the growth in inflation, average earnings and household income."

kincella what don't u understand about that.....for me it clearly says bubble.

 

[knocker]

knocker saying the opposite camp talks bs.....and prices wont rise above inflation.....thats so funny...I guess you dont like the facts for house prices over the last 20 years either....
think there was a part in that report...that said prices rose far higher than inflation...or words to that affect

guesssing you dont have a back up plan, or a plan B.....happy for you to stick to your ideas....I know of people who sold out before 2000, they bragged they had picked the top, and would get back in at the bottom.....they are still waiting...

Just following up on your spelling champ:

Here's one for you:

Hypocrite
* Main Entry: hyp·o·crite
* Pronunciation: \ˈhi-pə-ˌkrit\
* Function: noun
* Etymology: Middle English ypocrite, from Anglo-French, from Late Latin hypocrita, from Greek hypokritēs actor, hypocrite, from hypokrinesthai
* Date: 13th century

1 : a person who puts on a false appearance of virtue or religion
2 : a person who acts in contradiction to his or her stated beliefs or feelings

Learn to spell. ROFLMAO.

Quote from Kincella: "guesssing you dont"

ROFLMAO

 

[kincella]

so cynical...that charts over 3 years old...median price now about 450-470k so its added more from the 384k it was then....
surely if it was a bubble it should have burst....so I look beyond the obvious to see what other factors have influenced the prices....
everyone cramming into our biggest cities, vacating the regional areas in droves.....state govts holding up land parcels, not releasing them....thats just for starters.....

 

[satanoperca]

surely if it was a bubble it should have burst.....

That is a big assumption, lets take a look :

Low unemployment
Easy Credit
Government Handouts
Lowest Interest Rates in 46 years
We are not in a recession
High population growth

Everything above would only help to form a bigger bubble.

Change any two of the above and bubble will start to deflate.
Change any two of the above rapidly and the bubble will pop.

Cheers

 

[kincella]

Immigration numbers are out of Control

almost 900,000 immigrants in Australia last year..................
well only 889,722 to be exact....
I wonder if they had any impact whatsoever on the housing market......

so permanent residents to OZ of 232598, and a whopping 657124 temporary residents.....with more than half the temps seeking permanent residence here....so thats roughly half a million looking to stay permanently and about the same here as temps....
guess they play no part in the housing market, or a shortage of rental properties...or competition at sales

and changes to the laws in Mar 09, mean most of the temps can buy houses, if they choose to.....
so there is and has been competition in the housing market...and I wonder how many of those FHB's were the new temp residents (who are seeking permanent status anyway)

http://www.theage.com.au/national/migration-rules-set-for-revamp-20090830-f3ya.html

ps I note the personal attacks, as usual, and the low life type language used by some.....its too hard to debate the subject, so just go for a personal jibe....

 

[MACCA350]

Immigration numbers are out of Control

almost 900,000 immigrants in Australia last year..................
well only 889,722 to be exact....

That's just insane
How much land does the government free up each year?
Check this out:

The total number of dwelling units approved in 2008-09 was 132,073, a decrease of 18.8% from the previous year. Nationally, the number of house approvals fell 14.2% from the previous year while other dwellings fell 28.3%. The estimate for the total of number dwelling units approved rose in Tasmania (+7.2%) and the Australian Capital Territory (+19.7%) while New South Wales (-25.1%), Victoria (-3.0%), Queensland (-36.2%), South Australia (-10.2%), Western Australia (-18.2%) and the Northern Territory (-15.9%) fell.

Hmm, 132k building approvals last year............232k permanent and 657k temporary immigrants............not to mention the number of FHB Aussies.....................is the government really that stupid

cheers

 

[MACCA350]

Silly 20min edit limit
I forgot to add the link to my quote, here it is, link

cheers

 

[trainspotter]

Hey Hey Hey WA to lead the way !

Perth house prices are continuing their march back with new figures showing they have risen 2.5 per cent so far this year to hit an average $481,493.

Figures released this morning by RP Data and Rismark showed national housing values climbed 0.9 per cent in July to be up 5.9 per cent through the first seven months of 2009.

Darwin continues to lead the way with house values there up 10.8 per cent so far this year to $466,903.

But it is the turnaround in Perth, which had been moribund for more than 12 months until only recently, that suggests home owners are swarming over low interest rates to buy their dream home.

Perth has now overtaken Adelaide, where prices are up 1.9 per cent so far this year, as the capital city with the most sluggish property value growth and is quickly catching up to Brisbane (3.8 per cent).

Perth prices are still about $25,000 lower than their 2007 peak, however there are plenty of encouraging signs.

Over the June quarter the average house remained on the market for 32 days, compared to 59 days last year.

Units are taking on average just 25 days to sell, the fastest turnaround in the quarter. A year ago units averaged 46 days on the market.

RP Data's Tim Lawless said the Australian property market continued to be one of the world's strongest.

"Not only has Australia's residential property market outperformed the other major western markets, it has also provided superior returns compared to shares, commercial property, superannuation, hedge funds and private equities," he said.

"Australia's residential market has been further supported by low mortgage default rates, at just 0.6 percent, compared with 5 percent in the US and 3 percent in the UK."

Thank you to all those home owners out there !

 

[trainspotter]

RP DATA SAVES THE DAY !

Over the first seven months of the year Australian home values increased across every capital city, rising by 5.9 percent nationally.

Based on Australia’s largest property database, owned by rpdata.com which includes roughly 145,000 sales for the first seven months of 2009, Australia’s housing recovery has continued in the month of July with solid across-the-board capital gains.

According to the market respected RP Data-Rismark Home Value Index, Australian home values rose by +0.9 percent in the month of July 2009. This brings total capital growth in the first seven months of 2009 to 5.9 percent.

Underpinned by historically low mortgage rates and only small rises in unemployment, Australian home values have now risen 1.8 percent past their February 2008 peak

 

[So_Cynical]

Immigration numbers are out of Control

almost 900,000 immigrants in Australia last year..................
well only 889,722 to be exact....
I wonder if they had any impact whatsoever on the housing market......

so permanent residents to OZ of 232598, and a whopping 657124 temporary residents.

OK first off can we stick to the facts, holders of temporary visas are not immigrants...so our intake was 232598 now i would think that has to have an impact on the rental market in the big city's...As for house prices lets look at what happened in England over the last few years, England had a net intake of 240000 immigrants (2008), and in 2008/9 there housing bubble burst with valuations and sales falling over 30%...so what can we conclude about the impact of immigration on house prices.

http://www.telegraph.co.uk/news/uknews/1567068/Record-immigration-sees-UK-population-soar.html
http://www.statistics.gov.uk/CCI/nugget.asp?id=260

Also keep in mind that immigration is a 2 ways street...76 923 people left Australia permanently in 2007–08.

http://www.immi.gov.au/media/fact-sheets/05emigration.htm

 

[Buckeroo]

Immigration numbers are out of Control
almost 900,000 immigrants in Australia last year..................
well only 889,722 to be exact....
I wonder if they had any impact whatsoever on the housing market......

so permanent residents to OZ of 232598, and a whopping 657124 temporary residents.....with more than half the temps seeking permanent residence here....so thats roughly half a million looking to stay permanently and about the same here as temps....
guess they play no part in the housing market, or a shortage of rental properties...or competition at sales

and changes to the laws in Mar 09, mean most of the temps can buy houses, if they choose to.....

Interesting facts Kincella - have to admit its a lot higher that I would have guessed & yes could have an impact on housing depending on the wealth of the immigrants.

Would be of interest to know what their average wealth is and what part of the world is the average immigrant from. I know a number of South Africans are now coming to Australia & many of them are quite wealthy who can afford to buy medium priced houses.

But in enough numbers to make a difference.......don't know

Cheers

 

[satanoperca]

Also keep in mind that immigration is a 2 ways street...76 923 people left Australia permanently in 2007–08.

http://www.immi.gov.au/media/fact-sheets/05emigration.htm

That's fair and balanced reporting.

 

[kincella]

Robots, Beej and other positive property people...or PPP's...
you will like this article, all predictions now vindicated......
and read Rory Robertsons report for the next few months...

The hike to Kosiosko begins........

http://www.businessspectator.com.au...ment&src=blb&is=property&blog=concrete detail

and here is what the Chinese have been doing with their houses, and incentives for the buyers....
whoops their house prices have gone up too...higher than ours....

http://www.businessspectator.com.au...ument&src=is&is=Property&blog=Concrete Detail

 

[Beej]

Kincella - I wonder if a few of the doomsayers from this forum are thinking about donning the hiking boots and joining Steve Keen on his long walk! Seems only fair seeing as their understanding/predictions of the housing market have turned out to be as hopelessly wrong....

Cheers,

Beej

 

[Mofra]

Kincella - I wonder if a few of the doomsayers from this forum are thinking about donning the hiking boots and joining Steve Keen on his long walk! Seems only fair seeing as their understanding/predictions of the housing market have turned out to be as hopelessly wrong....

Beej, what would be the point? They'd just stand at the foot of the mountain waiting for the peak to come down