House prices to keep rising for years

[MACCA350]

Hindsight's a wonderful thing, I think I've got you topped............BPH 13/8/09 1000% in 3 days

cheers

 

[kincella]

but thats the stockmarket for you.....we are talking the housing market...
and some people would have lost 50% of their money on that stock if they bought at the top....
I am just having some fun debating the housing market.....
the stockmarket is more like a gambling den...imo

 

[MACCA350]

I am just having some fun

As am I

cheers

 

[kincella]

the Iraq housing problem is far more interesting....a shortage of 1.9 million houses....population growth to 39 mill by 2015....
they have a bigger problem over there....we only have a shortage of 240000 now...whats the projected deficit with our own population growth ???

extract......
Even before the civil war Iraq was chronically short of housing. Ms Bayan Dezayee, the Minister of Construction and Housing, said last month that by 2015 the population of Iraq would be 39 million and there is a need for 1.9 million extra housing units. Very little has been built over the last six years

http://www.independent.co.uk/news/w...-puts-heat-under-property-prices-1624889.html

 

[robots]

hello,

oh yeah, top contributions as usual, superb day, fantastic

great stuff, everyones circumstances are different remember that before you next critique a property owner or the local bludger out the front of coles wanting a coin

all i am looking for is to have a roof over the head and a bit extra as i wander the streets in my later life

he likes to own, she likes to rent, some take G, some have a can its all only debate and discussion

isnt the planet great with this diversification, amazing top place Australia and last I looked the planes still going to the US for those cheapo's

well done brothers

thankyou
professor robots

 

[Dark1975]

the Iraq housing problem is far more interesting....a shortage of 1.9 million houses....population growth to 39 mill by 2015....
they have a bigger problem over there....we only have a shortage of 240000 now...whats the projected deficit with our own population growth ???

extract......
Even before the civil war Iraq was chronically short of housing. Ms Bayan Dezayee, the Minister of Construction and Housing, said last month that by 2015 the population of Iraq would be 39 million and there is a need for 1.9 million extra housing units. Very little has been built over the last six years

http://www.independent.co.uk/news/w...-puts-heat-under-property-prices-1624889.html

Well it's logical to understand that infrastructure and domestic housing would need to increase after the U.S had leveled the earth.With oil moving in price everyday,I'm thinking Iran might have a property bubble soon(hence the U.S invading).

 

[kincella]

its a total no brainer for me.....there is just so much history available as a guide....
but then again... I am supposed to be...a stupid, ignorant, property bull, who lacks.....( insert whatever you like here)....but who cares what you think...firstly you need to find some one who cares.....and then tell them....see if they care......psst.... I do not care what you think
hehehehehe

and all the arguments by the opposite crowd...whinge, whine, cringe etc and complain about the problems here in Australia......blah blah blah,,...income to price ratio....etc etc etc..

what the hell do the Iraqi's have to complain about then....they have similar problems, ie shortage and costs of housing,....plus the global financial con, the US and affiliates bombing the **** out of their country, religous infighting, bombing the stuff out of each other.....
I doubt some of you would even survive under those circumstances, let alone consider your housing needs...
lollipops and roses in Iraq...for some....but not for all....

 

[satanoperca]

its a total no brainer for me.....there is just so much history available as a guide....
but then again... I am supposed to be...a stupid, ignorant, property bull, who lacks.....( insert whatever you like here)....but who cares what you think...firstly you need to find some one who cares.....and then tell them....see if they care......psst.... I do not care what you think
hehehehehe

I said I would stay out of this thread as it is constantly overrun with childish comments but this takes the cake. I would be ashamed if my four year old spoke like this let alone someone who thinks they are wise and mature and capable of giving insight and advice to others.

I've been sucked into responding, I am no better.

Off to whip myself one thousand times.

Go PLA.

Looks like reality is setting in for those bulls.

 

[Beej]

There are good reasons to rent, and there are good reasons to buy. Each person's situation is different.

One of the smartest posts made on this thread really!!

Cheers,

Beej

 

[grace]

This thread has gone to the dogs of late. I rarely post here because of that fact. Unfortunately, some are unable to listen to others if their point of view is different.

I'll take a risk today though.

Yesterday, I was called by a Real Estate agent (residential property) regional QLD, who said, "we are running some special programs for our old clients".....I last dealt with this agent I'm thinking a little under 10 years ago. I don't even think I did a transaction with this agent from memory.

This is an ominous sign for me.

 

[trainspotter]

WayneL has hit the nail on the head so to speak or write in this case. Everyones circumstances are different. As part of any balanced portfolio there must be a smattering of each product represented to ensure all bases are covered. Property, Shares, Cash is the general income deriving sources. Some people are more inclined towards property than others. Safe as houses. Bricks and mortar. There's no place like home. A man's home is his castle. Home sweet home. You get my drift. As Grace has pointed out it is the Real Estate Agents job to push their own barrow to earn income. The more they sell the property for, the more comission they receive. FACT. This drives prices up as well. And the greedy owners thinking that they can sell for more than the market dictates is helping their cause to inflate prices.

http://money.ninemsn.com.au/article.aspx?id=875432 for the rise

http://www.theaustralian.news.com.au/business/story/0,28124,26164175-643,00.html for the fall

The internet is littered with peoples "opinions" as to what may or may not happen. Time will tell. There is still money to be made in "certain areas". I repeat .... "certain areas". Property investing is the same as buying shares IMO. After a lot of due diligence one purchases either income producing product on the "informed decision" and good old father time is the bearer of good news. OR NOT.

 

[MrBurns]

This thread has gone to the dogs of late. I rarely post here because of that fact. Unfortunately, some are unable to listen to others if their point of view is different.

I'll take a risk today though.

Yesterday, I was called by a Real Estate agent (residential property) regional QLD, who said, "we are running some special programs for our old clients".....I last dealt with this agent I'm thinking a little under 10 years ago. I don't even think I did a transaction with this agent from memory.

This is an ominous sign for me.

I can almost feel the market coming off now, didnt see any Chinese at a couple of opens last week.

 

[Mr J]

Yesterday, I was called by a Real Estate agent (residential property) regional QLD, who said, "we are running some special programs for our old clients".....I last dealt with this agent I'm thinking a little under 10 years ago. I don't even think I did a transaction with this agent from memory.

This is an ominous sign for me.

I watched Glengarry Glen Ross the other night, I didn't realise cold calling existed in real estate. Pretty desperate behaviour.

 

[Beej]

To all the Sydney Bulls,

Why have Sydney RE prices failed to above the rate of inflation over the last six years if property always keeps going up?

Is this question directed at me? If yes it's based on a straw man premise. I've never stated that "property always goes up". I also have never stated values will always increase in real terms either. But I do say well located property will always beat inflation over the long term (10 years+) (EDIT: While moving in cycles within these periods).

In Sydney, even after the 6 years of flat nominal prices and price falls in real terms, most good suburbs still returned 8-10%pa on average over the past 10 years. Some did a lot better than this even over the past 6 years. Looking at the median prices is like looking at the XAO - whatever it does, there are always individual properties/area's (like stocks) that will over or under perform the "index".

Will Sydney prices show any real growth over the next six years?

IMO it will. If we hit a $700k median price in Sydney after 6 years, and inflation ran at 3%, that would represent real price growth over inflation of 1% pa. I suspect Sydney may hit that sort of median price in less than 6 years, but definitely within 6 years I think.

Cheers,

Beej

 

[Taltan]

Property investing is the same as buying shares IMO. After a lot of due diligence one purchases either income producing product on the "informed decision" and good old father time is the bearer of good news. OR NOT.

Well if you bought into the stockmarket in Nov 2007 doesn't matter how informed you are you probably lost, if you bought in Feb this year doesnt matter how uninformed you probably won. Property is similar and we are much closer to Nov 2007 than Feb 2009

 

[satanoperca]

Is this question directed at me?

If you are a sydney property bull then yes. If the question was directed at you only I would have addressed it so.

most good suburbs still returned 8-10%pa on average over the past 10 years. Some did a lot better than this even over the past 6 years.

And some did a lot worse, on average %6 p.a but still not a bad return by any means.

IMO it will. If we hit a $700k median price in Sydney after 6 years, and inflation ran at 3%, that would represent real price growth over inflation of 1% pa. I suspect Sydney may hit that sort of median price in less than 6 years, but definitely within 6 years I think.

I agree, after many years of stagnation, this would seem reasonable. Around %4 p.a. Great for the PPOR's but not fantastic for IP's on %80 > LVR's which has been the trend of the last decade.

Cheers

 

[Mc Gusto]

I can almost feel the market coming off now, didnt see any Chinese at a couple of opens last week.

agreed. numbers are down at auctions and showings i have visited over the last couple of weeks

 

[Beej]

agreed. numbers are down at auctions and showings i have visited over the last couple of weeks

Makes sense perhaps - 80%+ auction clearance rates on high sales volumes can only go on for so long! The Melbourne market has had this for most of this year! Might be time for a breather?

Cheers,

Beej

 

[robots]

There are good reasons to rent, and there are good reasons to buy. Each person's situation is different.

hello,

yeah, one of the best for the thread so far, many can take a lot from this, plenty of options for everyone

top effort

thankyou
professor robots

 

[Uncle Festivus]

hello,

yeah, one of the best for the thread so far, many can take a lot from this, plenty of options for everyone

top effort

thankyou
professor robots

ditto??