House prices to keep rising for years

[robots]

hello,

to get back on topic Nun, i asked this question last night and thought one of the guns here would know:

is it still 8x average income to median house prices? (fair question since we been through the BIGGEST financial event since 1929)

have Stapeldon/Schiller updated the graphs yet?

thankyou
professor robots

 

[doctorj]

hello,

to get back on topic Nun, i asked this question last night and thought one of the guns here would know:

is it still 8x average income to median house prices? (fair question since we been through the BIGGEST financial event since 1929)

have Stapeldon/Schiller updated the graphs yet?

thankyou
professor robots

From memory S&P publish the Case-Shiller Indicies - if you tell me what's the most recent data you have, I can log in and have a look for you.

 

[robots]

hello,

the last one I saw stopped at 2007,

thankyou
professor robots

 

[Soft Dough]

House prices will continue to rise as long as the government continues to subsidise developer's and tradesman's wages.

Is that too hard to leave?

It is a fact.

 

[robots]

hello,

here they are:

http://www.whocrashedtheeconomy.com/?page_id=365

thankyou
associate professor robots

 

[MrBurns]

Here's a truism -

If you get in early enough and hold for decades you will come out on top.

If you weaken and sell out along the way you may lose.

Buy and don't sell.............. thats the message.

Burns.......

 

[robots]

hello,

no worries Grandmaster Flash

thankyou
professor robots

 

[nunthewiser]

hello,

to get back on topic Nun, i asked this question last night and thought one of the guns here would know:

is it still 8x average income to median house prices? (fair question since we been through the BIGGEST financial event since 1929)

have Stapeldon/Schiller updated the graphs yet?

thankyou
professor robots

gday robots

i am no gun

i own property , sold properties ......... property has been kind to me and still will be

property has never been this unaffordable in my lifetime , i can afford to buy if i wish ,but can the normal joe bloggs buying his first home on overextended debt/record low rates do it ? .....yes .......seems to be the answer but im a lil concerned about what happens next .......... already seeing the pain and job losses in my neck of the woods ,2/ 3/4 yry old houses queing up by the dozen to try and even break square ..... other houses are moving tho established/ cbd etc etc

i have no graphs , i am not a speculator nor first home buyer ......... i see a bargain ..i want that bargain ......... usually turns out i got a bargain ......

i havent lost any houses through financial misfortune but i sure gunna pity the young ones i see now that are going too .......

theres booms and busts as you yourself would know ........... every mega run has its fall to reality, the median , the fair spot .............

and thats where this bogan preacher will be waiting once again

thankyou

an.on. topic.nun

 

[satanoperca]

Here's a truism -

If you get in early enough and hold for decades you will come out on top.

If you weaken and sell out along the way you may lose.

Buy and don't sell.............. thats the message.

Burns.......

Wise advice

House prices will continue to rise as long as the government continues to subsidise developer's and tradesman's wages.

Is that too hard to leave?

It is a fact.

Please back up this fact with some evidence. America, UK and Spain Government have been unable to achieve this, what makes you think that Australia Gov is any different. Ultimately the market will decide.

In regards to the FHBG, look at it as a positive. It has released pent up demand and bought forward demand along with low interest rates. Low risk opportunities to buy could be just around the corner.

theres booms and busts as you yourself would know ........... every mega run has its fall to reality, the median , the fair spot .............

and thats where this bogan preacher will be waiting once again

thankyou

an.on. topic.nun

Nun, please get in the cue, I am first but then again it is a big country.

 

[Soft Dough]

Please back up this fact with some evidence. America, UK and Spain Government have been unable to achieve this, what makes you think that Australia Gov is any different. Ultimately the market will decide.

In regards to the FHBG, look at it as a positive. It has released pent up demand and bought forward demand along with low interest rates. Low risk opportunities to buy could be just around the corner.

You do not really need evidence that it is boosting prices, all you have to do is look at gearing of the handouts. Now the prices of the houses have been growing at faster than historical values, and this really took off in 2000. So if house quality has not increased at comparable levels, where has the money gone?


Here is some evidence in pictures :
http://www.debtdeflation.com/blogs/

Plus opportunities will come, but, then again you have to believe that prices will fall or stagnate for many years.

 

[doctorj]

Buy and don't sell.............. thats the message.

Wise advice

I'm confused. How is it wise to buy an asset you can't/shouldn't sell?

 

[satanoperca]

Soft Dough,

I am a regular reader of Steve Keen's Blog and will be attending his presentation in Melbourne organised by a good friend from Prosper Australia on the 14th, will you be attending?

I do believe that prices are reaching a resting point. They may stagnate, they may deflate, either way there will be opportunity and I will be ready to pounce.

All things take time. When I was young, I was vocal, now I am patient and go with the trend as going against it has cost me opportunity.

 

[robots]

hello,

how do you get a ticket to that gig? would love to go

is it like a Hillsong show or more like a slide night

thankyou
professor robots

 

[robots]

hello,

http://www.heraldsun.com.au/news/me...30000-last-month/story-e6frf7jo-1225782276274

on and on it goes Kincella, paradise brother

thankyou
associate professor robots

 

[satanoperca]

hello,

how do you get a ticket to that gig? would love to go

is it like a Hillsong show or more like a slide night

thankyou
professor robots

Sorry Robots,

They have a strict door policy, no tradies & no PI's.

Cheers

 

[MrBurns]

I'm confused. How is it wise to buy an asset you can't/shouldn't sell?

Over time real estate does just go up, or thats what history tells us. there are slumps along the way but it always ends up ahead.

The idea is to get as much as you can, but the important part is, you must be able to manage the debt under ALL circumstances so in 10 or 20 years you reap the capital gain.

My mate has had a lot of his stuff since before capital gains tax came in.

Just left it there, paid down the debt when he could and forgot about it.

He said to me yesterday. "never sell anything" (real estate that is)

Of course there are exceptions but the general rule is get in early and hold.

 

[satanoperca]

hello,

http://www.heraldsun.com.au/news/me...30000-last-month/story-e6frf7jo-1225782276274

on and on it goes Kincella, paradise brother

thankyou
associate professor robots

From above link

The average Melbourne house price was $520,000 at the end of September, 6.4 per cent more than in August and a whopping 17.9 per cent - $79,000 - up on the same time last year, Real Estate Institute of Victoria sales figures for September show

The FHBG grant and low interest rates have had no impact!!!

Bubble, bubble troll and trumble.

 

[satanoperca]

Please disregard my above post.

Should have read the article more indepth. These figures have been provided for REIV, they cannot be trusted as they are supplied by RE's.

Went to REIV website and looked at vacancy rates for inner city 1%. This is a load of rubbish and organisation should be stopped from providing incorrect information to the public.

Cheers.

 

[Glen48]

Mr B you are correct but you can buy other things as well which will appreciate and are not a consumerable like a house is and every 70 or so years we have a depression so the secret is to pick when to get in and out just like shares.
Now is the time to get out of R E.

 

[Knobby22]

The latest scary graph is newly posted at Steve Keen's website - When Herds collide on the yellow brick road.
http://www.debtdeflation.com/blogs/

Much earlier in this thread I said the house rises would flatten but not drop because of Australians love of property and government need to prop it up.

The present government will do anything to keep house prices from falling and inflation is still low and immigration high so we will hold on a bit longer.