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House prices to keep rising for years

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robots said:
looks as though its only you and me offering up the truth with many in denial and many disappeared, laughable

thankyou
professor robots
Click to expand...

The truth obviously comes in many guises, like you being a professor of spin.

Kincella, I have read through your posts, what is your position on whether the FHBG has inflated prices or not?

I do agree with your sentiment that home ownership is about hard work and discipline and should not be granted to those that cannot afford it or are unwilling to work for it. But that does not mitigate that homes are rapidly becoming unaffordable due to speculation and cheap credit.

Cheers
 
ok, hawkes it is
btw.....seems there are only a few of us.....we are the myth busters when it comes to the housing market, on these forums...

I dont see any govt, state or federal doing anything about the problems anytime soon....in fact allowing temporary residents to buy in, has just exacerbated the problem.....
after 2 years of a Global Financial Con...job.....its almost back to normal.....but it left a lot of people confused and upset and lost money.....

oh and the con job is still ongoing....with all leaders flying everywhere every other day....contributing to the other mess....of polluting the earth...
must away, take the dog for her grooming today....and have some fun, contributing to the retailers profits...and helping the economy to grow again
have fun
cheers
 
Robots,
I love the idea of a live in butler....hey Jeeves.....hmmm now that would suit me to a T

Satanopera
.....I have dismissed the increased grant of an extra $7000 as being of any significance.....in the greater scheme of things...
if you were talking about kids buying houses around $200k's the bonus represented less than 5%......
FHB made up about 25% of all purchases in the past year......leaving 75% of purchases that were non FHB's

however there were larger grants available for building new homes and another $3000 in rural or regional areas....in some cases up to $40,000 was available.....but the kids avoided the new home deals.....ps wish I was a FHB I would have taken the new home deal....massive $40,000

I believe the increases in the housing market in the main cities has more to do with the flood gates opened by this govt, to allow from Feb/Mar 2009 temporary residents and visa holders to purchase residential properties....
thereby competing with the locals....and aggravating the shortage of houses

formerly FHB were also very active in the market...upgrading....with prices stagnate or depressed....I saw that coming a long way off.....
I dont expect interest rates to rise soon, nor a slowing down with housing, in the inner cities.....
 
Interest rates will rise. The central bank will adjust the cash interest rate from its "exceptionally" low level when the time is right, Reserve Bank of Australia Governor Glenn Stevens says "It's an emergency setting." He told the House of Representatives Economics Committee "On the timing of when we might adjust policy, that's an issue about which one keeps an open mind, at this point obviously."
 

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You have to also look at it as a physiological incentive.
 


Ummmmmmmmmmm not wanting to be picky here robots as I believe you are on the right path with property BUT a very BIG tightening of banks lending criteria did occur in the housing sector. Debt Serviciablity Ratios were adjusted, Uncommited income levels were increased, LVR's were tweaked and LMI declined approx 50% of home loans that would normally be written as well. I have three associates who run mortgage origination business/finance brokers supplying me the info.

As well as a concern about LVRs on completed homes, some financiers are getting twitchy about loan-to-valuation ratios for development sites - in many cases cutting back from 60-65% to around 50%. First hand experience on this subject.
 
Exactly, dunno what planet you were on but commercial property prices have dropped 20% and credit was almost non existant.

FHBG boost is over in a few days, interest rates on the way up, yep plenty of equity...............negative equity................on the way.
 
I actually received a REFUND cheque from the State Revenue Department for LAND TAX on some property I own. Apparently they adjusted DOWN the price of the vacant land I own. TRUE it might have been over inflated to begin with but ............ might have been an exception to the rule perhaps?

Commercial venture ?? Pffffffffffffffft !! Had 40% cash deposit to build commercial warehouses 2 x 300m2 each zoned light industrial. NAB requested more green title RESIDENTIAL property for security. Definite credit tightening IMO.
 
oh dear, now we have to put up with shouting,yelling and screaming from the other side.....to get their message across.....aka the big and bold over sized fonts

hey bully boys.....
you have a nice day now......after you calm down
hehehehe
 
Just pointing out the obvious mistake in the rhetoric kincella. If you note I did write that I believe you (as in robots specifically) are on the right path with property, I am a firm believer in property and if you read some of my previous posts I have made it very clear I have dumped all my stock holdings to go back into property. Even to the point of starting a building company to take advantage of the next wave of construction phase.

I have written the FACTS that have actually occurred to myself. There is no bullying tactics necesarry. The bold is to point out the obvious mistake. Everything else I have concurred with.

You have yourself a nice day now. After you take your hand off it.
 
hello,

this one's on "houses", yes "houses"

thanks for clarifying that the banks want RESIDENTIAL for security

residential, not developers finance, land bankers, commercial trusts just plain old vanilla residential property

havent all these FHG's been buying with no deposit?

another busted, bully boys

thankyou
professor robots
 
Hi Robots....can you send the link for the story this morning about the butler....I did go looking but could not find it....the HS site is a bit all over the place with property or housing articles

for some reason all these people converged on Safeway at toorak today....buying trolley loads of grog,,,,,never seen any of them before....mostly wearing footy gear.....what is it with footy and grog....

too cold to take the dog for grooming.....will go back to safeway after the footy starts...when its a bit more sane.....then there was an accident on Williams Rd....which caused traffic jams elsewhere....
geez wish I had stayed home...
 
hey Robots....the other one is banging on about commercial.....it is commercial that most of the 'ultra smart finance boys' grabbed, bundled, and mortgaged to the hilt, into trusts......the guru's of commercial property stuffed it so high,,,,,then some were forced to sell........

it really had nothing to do with the performance of commercial property itself.....it was all about very bad asset management.....and financial disasters....made by a few very stupid people

but back here on earth....the conservative investors, which includes some very large superfunds....and small investors like myself.....are doing very, very well.....in fact the commercial property is proving such a bonanza in terms of yield, I wish I had bought 5 of them....
and with no intention of selling....who cares about a drop in some prices in some types....
its offices that are falling away....due to the smaller businesses down sizing....
it is not affecting retail property.....
commercial property is so much more segmented into different types....
oh and if I could find more retail as cheaply as the last one I would....
I have been looking for more retail.....almost nothing available in my price range.....
oh and no vacant shops in Chapel St....either.....but a few in Toorak (the fat overpriced boutiques reliant on the tourists have gone) but fav pitza place moved on up into Toorak Rd.....they pounced on it.....
winners are grinners....losers are whiners...or frowners
 
ok thank you...out of my price range starting at 5.3 - 14 million....believe they are right on the money, with the idea of small complexes, so people stay in their local community...
I have cleaners and others to help out on a regular basis....dont really need a butler
cheers
 
I reckon St Kilda will win the afl today....poor kicking...should have been 4 goals instead of points....but Geelong doing nothing...
 
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