House prices to keep rising for years

[alwaysLearning]

Just got around to watching the 60 min vid, found it quite interesting that the report was indirectly trying to link a place like kellyville in Sydney to the subprime fiasco happening now.

From the transcript -



That entire area has been a disaster zone as far as house prices are concerned for 4-5 years now. It's quite likely that the house he is describing was purchased in 2003 and sold off recently. This area went bust before the term 'subprime crisis' was even coined

Apart from that, was quite a sad story. Having said that, most of the sympathy I had for these people went right out the window when they moved on to talking about what they were doing to their pets

Given the choice between my dogs and the pile of bricks that they live in, I know which one I'd be walking away from, and which I'd be doing my best to protect

I agree. As a fan of dogs and pets in general I was disgusted with that behaviour. They could have at least taken it to an animal shelter instead of leaving them on the street to die.

It was still a sad story though. Life is hard for a lot of people.

 

[robots]

Yes and prices are still 10pc below last year, many in Neg equity already, and really badly for some considering high transaction costs of properties .

If you paid 500k in 2006 for your house and it got 20pc gain in 2007 to 600k , you are now back to 540k with this 10pc loss. Factor in massive fees duty interest etc , selling now in 2008 you wouldnt get your cash back ?

How is this possible ?

hello,

my suburb only down 1.2%, many suburbs have increased,

oh yes we have to wait for next qtr,

thankyou

robots

 

[robots]

hello,

http://www.theaustralian.news.com.au/story/0,25197,23682106-25658,00.html

great stuff,

thankyou

robots

 

[xoa]

hello,

http://www.theaustralian.news.com.au/story/0,25197,23682106-25658,00.html

great stuff,

thankyou

robots

Pathetic..

The speculators have only lost a few % so far, and they're already whining for handouts.

 

[wayneL]

hello,

http://www.theaustralian.news.com.au/story/0,25197,23682106-25658,00.html

great stuff,

thankyou

robots

The article says that Melbourne is having a population boom.

What is the reason for this? Not too many years ago, Victoria was losing population to the other centers. Why has this changed?

 

[robots]

hello,

greatest place in the world bro, seriously

brumby gov is doing a fantastic job, councils are doing a fantastic job, everything is rolling along smoothly,

eastlink to open ahead of schedule, works are being completed

fantastic place

thankyou

robots

 

[robots]

Pathetic..

The speculators have only lost a few % so far, and they're already whining for handouts.

hello,

everybody else gets them, dont see why some should be left out

thankyou

robots

 

[wayneL]

hello,

greatest place in the world bro, seriously

I've heard the same thing said about so many places.

 

[Mofra]

The article says that Melbourne is having a population boom.

What is the reason for this? Not too many years ago, Victoria was losing population to the other centers. Why has this changed?

Growing economy, large investments into infrastructure = more jobs, easier to get around than in most other capital cities, cheaper housing than in Sydney, Canberra, Brisbane, sporting capital of Australia and a vibrant subculture for every taste from wine, food, music to the arts...

... and I live here :

 

[Mofra]

Pathetic..

The speculators have only lost a few % so far, and they're already whining for handouts.

Well the sky is falling down isn't it?

Either way, I don't think Australian residential housing is on the route map for Benake's "helicopter de cash" so the panickers need to find another mythical sky beast to make everything better - surely we can't let the Wall Street fatcats hold a monopoly on moral hazard now can we?

 

[CAFA1234]

FT - London
HSBC sees further pain in US housing

By Peter Thal Larsen, Banking Editor

Published: May 12 2008 11:34 | Last updated: May 12 2008 19:22

The US housing market downturn could last for at least another year, HSBC predicted on Monday as it revealed it had set aside $5.8bn (£3bn) because of the credit turmoil in the first quarter.

Peter Thal Larsen analyses the bank’s writedowns and its outlook for US housing

The bank, one of the first to suffer from the meltdown in the US subprime mortgage market, said any recovery in the US housing market was unlikely this year. “We don’t think this is a 2008 event, it’s a 2009 event,” said Michael Geoghegan, chief executive.

 

[Lucky]

Anyone want to go halves in a cheap house? $50. Detroit sounds interesting...

http://detroit.craigslist.org/rfs/678329752.html

 

[theasxgorilla]

The article says that Melbourne is having a population boom.

What is the reason for this? Not too many years ago, Victoria was losing population to the other centers. Why has this changed?

Thinking outside the square...its a hell of a lot dryer than it once was. You can't really make fun of Melbourne for the rain any more. Large infrastructure projects like Eastlink and Scoresby freeway (whats the real name???) are being completed ahead of schedule because the bad weather they budgeted for just doesn't come any more.

Other than that...same old arguments...more cosmopolitan than Sydney, more down to earth than Sydney, all the advantages of a really big city (large casino, conventions centers, museums, art galleries, GP, Aust Open tennis, MotoGP, all big name touring acts) without many of the drawbacks.

And the western suburbs are being developed offering very affordable housing along with the infrastructure. If you're a Melbournian the western suburbs have a stigma. If you're an immigrant, you don't care. You just know that you can commute from your brand new, well-priced McDonalds mansion to your 100k a year job in town within 30 minutes and that makes you happy.

I love Melbourne

Oh, I nearly forgot to mention. Home of AFL and that world famous institution, the Melbourne Cricket Ground.

 

[Macquack]

I love Melbourne
.

If you love Melbourne so much, why dont you live there instead of Helsingborg, Sweden?

 

[theasxgorilla]

If you love Melbourne so much, why dont you live there instead of Helsingborg, Sweden?

Clearly MacQuack you've not met my girlfriend

 

[prawn_86]

Clearly MacQuack you've not met my girlfriend

LOL, Classic!

 

[Macquack]

Clearly MacQuack you've not met my girlfriend

Then marry her and bring her back.

 

[theasxgorilla]

Then marry her and bring her back.

Do I have to???

Besides, don't you know Macquack? House prices are going to keep rising for years...I can't afford a wedding :

 

[robots]

hello,

http://www.theaustralian.news.com.au/story/0,25197,23688731-25658,00.html

more great reading,

i hope people hang in there, and if you dont want to buy then dont, the less in the better,

friend just got letter for 8% rent increase, i am going to send one out at end of contract period, so keep it up

please note this is fact not troll

thankyou

robots

 

[nizar]

And the western suburbs are being developed offering very affordable housing along with the infrastructure. If you're a Melbournian the western suburbs have a stigma. If you're an immigrant, you don't care. You just know that you can commute from your brand new, well-priced McDonalds mansion to your 100k a year job in town within 30 minutes and that makes you happy.

So true, I agree wholly.
Broadmeadows for example, is only 15km from the city.