House prices to keep rising for years
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numbercruncher
Beware of Dropbears
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Just another day in the RE correction ?, Largest home builder in NSW gos bust, housing shortage ? .......
http://www.news.com.au/business/story/0,23636,23696445-462,00.html
http://www.news.com.au/business/story/0,23636,23696445-462,00.html
professor_frink
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When Henley pulled out of NSW a few years back, the impact was fairly minimal, people that were buying homes just went and bought them from another builder, there wasn't exactly a shortage of companies building that type of home. There's still heaps of them around.
professor_frink
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No. They are still going in Victoria and Sth Oz(I think). Though they disappeared from NSW pretty well overnight and were one of the biggest in the state at the time. Apart from some slight disruptions to the various companies that were supplying them with materials, business went on as per usual. These kinds of companies are a dime a dozen, if they don't control the land content of entire suburbs on their own, then there will be plenty of others that can step in and take over
numbercruncher
Beware of Dropbears
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Salvos ?
Is your Job under threat in the Building game Robi ? I heard its getting cut throat ....
professor_frink; said:No. They are still going in Victoria and Sth Oz(I think). Though they disappeared from NSW pretty well overnight and were one of the biggest in the state at the time. Apart from some slight disruptions to the various companies that were supplying them with materials, business went on as per usual. These kinds of companies are a dime a dozen, if they don't control the land content of entire suburbs on their own, then there will be plenty of others that can step in and take over
Forgive me, but pulling out of a market, and the biggest builder in NSW going bust is two very different scenarios ??? Hundreds of people potentially getting stuffed on their deposits - I'm sure the press will make hay.
Gives the confidence a tad of a knock - somewhat?
professor_frink
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maybe. maybe not. The difference between the current biggest builder in the state going bust and the biggest builder in the state disappearing a few years ago isn't that much different. The end result was still the same - a rather large player now isn't there anymore. The point I'm making is that there are quite a few companies that build homes that are almost indistinguishable to beechwoods (unless you see the sign out the front during construction of course) that will be more than willing to step up and take up the slack. A few hundred(or thousand??) people will lose their deposits and that's never a good thing to see, but all of the other people that want a house built will still be able to do so with one of the many other companies out there that build this type of home.
But like you mentioned above, I'm sure the press will make a big deal about this, it's the popular thing to do with the housing market right now!
hello,
no, i am as tight as most around here and would sooner go to salvo's to get some bunk beds for around a tenth of the price as ikea or harvey's joint,
cant wait to rack'em and stack'em in my joint when they arrive
thankyou
robots
hello,
here's one for you:
http://www.seek.com.au/users/apply/index.ascx?Sequence=41&PageNumber=1&JobID=12726998
be reliable, reliable, reliable and reliable and presto you have a very good job,
and the affordability issue could be all history to you
thankyou
robots
here's one for you:
http://www.seek.com.au/users/apply/index.ascx?Sequence=41&PageNumber=1&JobID=12726998
be reliable, reliable, reliable and reliable and presto you have a very good job,
and the affordability issue could be all history to you
thankyou
robots
http://www.bloomberg.com/apps/news?pid=20601087&sid=adsUTJJ8e6WY&refer=home
Interesting state of play in the US.
Foreclosures Climb 65% as Loan Workouts Fall Short (Update3)
May 14 (Bloomberg) -- U.S. foreclosure filings climbed 65 percent and bank seizures more than doubled in April from a year earlier as mortgage industry efforts to modify loans fell short.
More than 243,300 properties were in some stage of foreclosure, the highest monthly total since RealtyTrac Inc., a seller of default data, began in January 2005. One in every 519 households received a filing and Nevada, California and Florida had the highest rates. Filings rose 4 percent from March.
The worst housing slump since the Great Depression may push the U.S. economy into a recession. Falling home prices, which dropped the most in 29 years in the first quarter, are making it tougher for homeowners to refinance, and voluntary programs to change loan terms for at-risk borrowers haven't helped enough people, said Ira Rheingold, executive director of the National Association of Consumer Advocates in Washington
....
Bank repossessions jumped 145 percent in April from a year earlier to 54,574, according to Irvine, California-based RealtyTrac. The company has database of more than 1.5 million properties and monitors foreclosure filings including defaults notices, auction sale notices and bank seizures.
....
Nevada Filings
Nevada had the highest U.S. foreclosure rate for the 16th consecutive month. One of every 146 households was in some stage of foreclosure, 3.6 times the national rate, RealtyTrac said. Filings almost doubled from a year earlier to 7,276.
California had the second-highest rate, one for every 204 households, and the most filings for the 16th consecutive month at 64,683. Filings more than doubled from a year earlier and were down less than 1 percent from March.
Arizona had the third-highest rate, one for every 224 households. Filings almost tripled from a year earlier to 11,620.
Florida had the second most filings at 35,264 and the fourth-highest rate, one for every 242 households. Foreclosures increased 146 percent from a year earlier and rose almost 17 percent from March.
New York's Rate (New York as well, this is getting serious! -CAFA)
Foreclosure filings in New York were up 39 percent from a year ago and up 12 percent from March. The state ranked 29th with 5,696 filings.
In New Jersey, foreclosure filings ranked 15th at 5,143, up 65 percent from a year ago and up 15 percent from March.
--------------------------------------
Interesting state of play in the US.
Foreclosures Climb 65% as Loan Workouts Fall Short (Update3)
May 14 (Bloomberg) -- U.S. foreclosure filings climbed 65 percent and bank seizures more than doubled in April from a year earlier as mortgage industry efforts to modify loans fell short.
More than 243,300 properties were in some stage of foreclosure, the highest monthly total since RealtyTrac Inc., a seller of default data, began in January 2005. One in every 519 households received a filing and Nevada, California and Florida had the highest rates. Filings rose 4 percent from March.
The worst housing slump since the Great Depression may push the U.S. economy into a recession. Falling home prices, which dropped the most in 29 years in the first quarter, are making it tougher for homeowners to refinance, and voluntary programs to change loan terms for at-risk borrowers haven't helped enough people, said Ira Rheingold, executive director of the National Association of Consumer Advocates in Washington
....
Bank repossessions jumped 145 percent in April from a year earlier to 54,574, according to Irvine, California-based RealtyTrac. The company has database of more than 1.5 million properties and monitors foreclosure filings including defaults notices, auction sale notices and bank seizures.
....
Nevada Filings
Nevada had the highest U.S. foreclosure rate for the 16th consecutive month. One of every 146 households was in some stage of foreclosure, 3.6 times the national rate, RealtyTrac said. Filings almost doubled from a year earlier to 7,276.
California had the second-highest rate, one for every 204 households, and the most filings for the 16th consecutive month at 64,683. Filings more than doubled from a year earlier and were down less than 1 percent from March.
Arizona had the third-highest rate, one for every 224 households. Filings almost tripled from a year earlier to 11,620.
Florida had the second most filings at 35,264 and the fourth-highest rate, one for every 242 households. Foreclosures increased 146 percent from a year earlier and rose almost 17 percent from March.
New York's Rate (New York as well, this is getting serious! -CAFA)
Foreclosure filings in New York were up 39 percent from a year ago and up 12 percent from March. The state ranked 29th with 5,696 filings.
In New Jersey, foreclosure filings ranked 15th at 5,143, up 65 percent from a year ago and up 15 percent from March.
--------------------------------------
hello all,
another great day yesterday, even with the bleak weather clearance rate of 63%, awesome stuff
positive time for buyers in melbourne and with news the city of melbourne is number one for domestic tourists in aus,
was thinking last night about mr keen and his television appearance the other week, openly admitting to having a huge mortgage yet so "keen" to comment on debtwatch
thankyou
robots
another great day yesterday, even with the bleak weather clearance rate of 63%, awesome stuff
positive time for buyers in melbourne and with news the city of melbourne is number one for domestic tourists in aus,
was thinking last night about mr keen and his television appearance the other week, openly admitting to having a huge mortgage yet so "keen" to comment on debtwatch
thankyou
robots
wayneL
VIVA LA LIBERTAD, CARAJO!
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This phrase is now permanently consigned to the ranks of cliché, never again to be uttered during intelligent discourse.
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That's such a typical response from a skeptic. An analyst is making a claim on certain things with complete facts and evidences. However, instead of analysing the claims in a serious way, the skeptic attempts to dismiss / debunk them by critising the analyst him/herself. It is by the far the most common and easiest way to "arrogantly" ignore a fact.
This entire thread is making history, and thanks to you Robi. I'm sure even the most "bullish" RE players will try to stay away from you from making a bad name even for themselves.
If you don't agree with Mr Keen, why don't you provide some evidences to support your claims?
hello,
thanks temjim good comments,
actually the rba has continually stated that household debt is well under control.
thankyou
robots
numbercruncher
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Are you ever going to back statements like that up with Quotes from the RBA ? Because it seems you just make them up, its ok to make things up but not to claim another body said it ...
http://www.news.com.au/couriermail/story/0,23739,23483106-953,00.html
And they have warned this many times since as early as 2004 ..... All went well when property was being " flipped " for a profit ...
http://www.rba.gov.au/PublicationsAndResearch/FinancialStabilityReview/Mar2004/Html/financial_stability_review_0304.html
hello,
i note you say they "also" said...
people can always get a second job or a higher paying job if affordabilty is an issue or they can rent, no big deal really
thankyou
robots
numbercruncher
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This is just more incessant waffling, why didnt you just write the rba hasnt continually stated that household debt is well under control as I Robots previously and falsely claimed.
No Big Issue.
Thankyou.
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