House prices to keep rising for years

[satanoperca]

hello,

good evening all, great day

apologies for the late log in, out on the pushie, great to see people out enjoying themselves, plenty of new immigrants

just to summarize:

1. property doing well

thankyou

Doctor Robots

Is a beautiful night here in Melbourne.

Property is doing well, some red lights showing on

http://www.rpdata.net.au/ however.

Robots, please enlightened someone dull of sight how you determine who is an immigrant when out on your travels to come to the conclusion that there are more immigrants than usual. Seeking prognosis from a Doctor is always wise.

Anyone placing bets on which interest rate rise 0.25 or 0.5 on Tuesday with the day that stops a national with centrebet.

 

[MrBurns]

Is a beautiful night here in Melbourne.

Property is doing well, some red lights showing on

http://www.rpdata.net.au/ however.

Robots, please enlightened someone dull of sight how you determine who is an immigrant when out on your travels to come to the conclusion that there are more immigrants than usual. Seeking prognosis from a Doctor is always wise.

Anyone placing bets on which interest rate rise 0.25 or 0.5 on Tuesday with the day that stops a national with centrebet.

It will be .5% and robots lives in St Kilda where the immigrants outnumber the rest to the point where you need a passport to travel there.

I'd like to know where all there people came from in such a short time. I was on the road today and could hardly move in the traffic, not peak hour , but at 10 or 11 am and again after 2 pm.

 

[drsmith]

I'll go for 0.5%.

The real cash rate in Australia is still negative.

 

[MrBurns]

I'll go for 0.5%.

The real cash rate in Australia is still negative.

They're **** scared of the housing bubble, 12 months too late as usual.

This might get ugly as they wrestle it down.

 

[drsmith]

Whether the RBA went too far with its cuts this time last year is difficult to say but the task ahead is to successfully change which foot is on the tightrope.

 

[wayneL]

Whether the RBA went too far with its cuts this time last year is difficult to say but the task ahead is to successfully change which foot is on the tightrope.

Interest rates have been too low since 2002.

...and a great big part of the reason we blew up last year... and the reason we'll blow up again before too long.

 

[MrBurns]

Whether the RBA went too far with its cuts this time last year is difficult to say but the task ahead is to successfully change which foot is on the tightrope.

They went too far for a long time, then there was the FHB bribe, then there was the relaxing of the foreign investment rules, all combined to push prices to crazy levels.

 

[MrBurns]

Interest rates have been too low since 2002. .

Absolutely spot on, not many people realise this.

 

[satanoperca]

Absolutely spot on, not many people realise this.

Ah, but they soon will.

 

[MrBurns]

Ah, but they soon will.

The pain felt will be a deal breaker for the re election of the little Emporer.

 

[drsmith]

Interest rates have been too low since 2002.

...and a great big part of the reason we blew up last year... and the reason we'll blow up again before too long.

Are you saying that from a global perspective (in particular the USA) and/or do you consider the RBA went too far with it's response to the explosion 12 months ago ?

 

[wayneL]

Are you saying that from a global perspective (in particular the USA) and/or do you consider the RBA went too far with it's response to the explosion 12 months ago ?

Global perspective.

 

[Fleeta]

Wayne, did you read today that house prices in the UK went up in the last quarter - first time in a long time that has happened!

The median house price in UK is circa £190k, or less than AUD$370k - that makes UK houses cheaper than Australian houses - considering the land mass, population and incomes, that makes no sense to me or am I missing something??

 

[italiandragon]

Wayne, did you read today that house prices in the UK went up in the last quarter - first time in a long time that has happened!

The median house price in UK is circa £190k, or less than AUD$370k - that makes UK houses cheaper than Australian houses - considering the land mass, population and incomes, that makes no sense to me or am I missing something??

"No sense" is what Australian Property market is full of, in these last years.

But do not take my word, have a deep look at this free report:

http://www.demographia.com/dhi.pdf

Spruikers did a very good job in keeping up the ceiling here but how long will they hold it before the whole castle comes down to reality?

 

[Beej]

Wayne, did you read today that house prices in the UK went up in the last quarter - first time in a long time that has happened!

The median house price in UK is circa £190k, or less than AUD$370k - that makes UK houses cheaper than Australian houses - considering the land mass, population and incomes, that makes no sense to me or am I missing something??

You are missing two points:

Firstly, historically the AU/GPB exchange rate has been more like $AU2.50/pound or more, and average wages etc still run at about this sort of ratio. I don't have the latest average full time wage figures for the UK but I would reckon it will be around 25k GBP at the moment right (WayneL?). You need to look at a range of factors when comparing house prices between countries, but if you consider this point, then UK houses are on average 7-8 times average full time income, which (surprise!) is about the same as here in Australia!

The second point is that there is a lot more public (council) housing in the UK, meaning less private investor participation that in AU. Many might argue that that's how should be here too, and they may be right, but at this point in time it is a difference between the 2 markets.

Cheers,

Beej

 

[Beej]

"No sense" is what Australian Property market is full of, in these last years.

But do not take my word, have a deep look at this free report:

http://www.demographia.com/dhi.pdf

Spruikers did a very good job in keeping up the ceiling here but how long will they hold it before the whole castle comes down to reality?

*Sigh* You have posted that silly report here many times - it is rubbish, and has been covered in this thread many times before. See this article at Business Spectator for a pretty solid debunking:

http://www.businessspectator.com.au...a-Dogma-$pd20090129-NQTPP?OpenDocument&src=mp

Cheers,

Beej

 

[UBIQUITOUS]

The Oz market is now at 'frothy bubble' stage, much like the UK in 2007. People are rushing in so as not to miss the next leg up.

Its a self fulfilling prophecy built on zero fundamentals as will become clear to MOST by next year, as refused payrises and increasing unemployment do not reconcile with the hollow business plan of making money from property investment.

 

[robots]

hello,

yeah i agree Beej,

stop writing such rubbish in this thread, go ask the bloggers who write all this propaganda what they do behind the scenes (interests in CFD Companies, Forex Companies, Donations for there false hopes etc etc)

oh yeah, ask them where the crash is and to apologise

yes Satanoperca, easy they dont whinge

thankyou
Doctor Robots

 

[MrBurns]

The Oz market is now at 'frothy bubble' stage, much like the UK in 2007. People are rushing in so as not to miss the next leg up.
Its a self fulfilling prophecy built on zero fundamentals as will become clear to MOST by next year, as refused payrises and increasing unemployment do not reconcile with the hollow business plan of making money from property investment.

It might come sooner than that, I can feel a chill in the wind.

 

[robots]

hello,

OH YEAH:

http://www.reiv.com.au/home/inside.asp?ID=162&nav1=652&nav2=162

apologies for the late posting of auction result, MASSIVE 83%

hahahahahahaha, paradise hey WayneL? the one and only supreme country up there as usual

thankyou
Doctor Robots