Australian (ASX) Stock Market Forum

House prices to keep rising for years

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explod said:
Yep, I took him to task on it months ago but he continues to hang his hat on it.

In fact, there is an old saying, "never try to catch a falling knife". IMHO property is falling and one needs to wait till the "knife hits the floor."

But I dont' know much and have been wrong before
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hello,

only reporting the figures, dont jump to any conclusion

but the RBA likes to look at the data i report,

its also great to see a situation where i and others can continue to increase the yield on my investment year in year out because of the current market situation,

a far cry from 02-05 when couldnt even lift things $5/wk,

this upside, and real "return" is going to be great, not some fairytale dividend paid out of borrowings

thankyou

robots
 
robots said:
hello,

massive day yesterday with auction clearance rate at 62% for melbourne,

just run of the mill, great time for people looking to buy a home still,

thankyou

robots
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The auction clearance rate last weekend was 67% so it actually plunged 5%.
 
The worst is yet to come !
Thye full effects of the WA gas crisis has not yet been felt and still has 2 months to run.
People getting laid off with the inability to run factories will send a ripple through the national economy.
 
Anything above 65% may be a sign of a healthy market, but sometimes the clearance rate will go up because REA's are getting better at counselling vendors to lower their expectations.
"Blue chip inner suburbs such as East Malvern, Hawthorn and Kew are very solid at auction and maybe that is because the selling agents have “adjusted” their vendors to the market well. Outer lying areas such as Balwyn North are now beginning to sell when the vendors realise the buyer’s market is no longer there for prices per sqm matching Balwyn, Camberwell and Canterbury."
http://www.jamesbuyeradvocates.com.au/marketnews.html#mal
 
Lucky_Country said:
The worst is yet to come !
Thye full effects of the WA gas crisis has not yet been felt and still has 2 months to run.
People getting laid off with the inability to run factories will send a ripple through the national economy.
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I think I'll sleep easy at night as I've yet to hear anyone say "Watchout...here comes a ripple". ..ROTFL!!

Plunge...Ripple...Thanks for making my Sunday guys.
 
Well ever night I wish prices would drop we have been looking for a place in Elsternwick, but the price has always been just out of our budget. I have seen the prices steady here but not drop, lets just see how the ball drops we might be out of this quicker than people think if they are allowing more people immigrate to Australia over the coming couple of years. :rolleyes:
 
So this guy that talks on 6PR about property in Perth (sometimes I get to hear him) Craig Turnbull .. Perth based author, speaker, financial commentator and multi-millionaire investor seems to think if you are going to buy property here. now is the time ???? He seemed hesitant to think that the sentiment of the properties bearing on LOCATION LOCATION would go down any further...

Mixed barrage of signals here

I for one think that property in Perth will pick up in Year 2010...Yet my lawyer states there are many migrants arriving in Perth and houses are in dire need... so where are these people ??
I am confused :confused:
 
natashia said:
So this guy that talks on 6PR about property in Perth (sometimes I get to hear him) Craig Turnbull .. Perth based author, speaker, financial commentator and multi-millionaire investor seems to think if you are going to buy property here. now is the time ???? He seemed hesitant to think that the sentiment of the properties bearing on LOCATION LOCATION would go down any further...

Mixed barrage of signals here

I for one think that property in Perth will pick up in Year 2010...Yet my lawyer states there are many migrants arriving in Perth and houses are in dire need... so where are these people ??
I am confused :confused:
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Have these immigrants got jobs credit history deposits etc ?
Some may stay some may go but are the banks willing to lend money for properties to these people ?
 
Lucky_Country said:
Have these immigrants got jobs credit history deposits etc ?
Some may stay some may go but are the banks willing to lend money for properties to these people ?
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LOL oh gosh thats a hard one..usually these people that come here that way end up owning the banks...or the country :(


But in all fairness he did say people comming to Perth not just migrants-if that helps I dont know...
Fire the Lawyer?
 
High oil price, higher food prices will take 3 to 6 months to hit our bottom line. Unemployment will be one result. People will downsize and doublebunk. Another is our growing dollar on tourism. Parts of our economy (but it is a select area, the mining boom) will remain very strong compared to many others so our currency will go beyond parity with the $US to the detriment of many other business types.

The 3 P's will allways hold up at a certain (dare I say) class level. The real problems and implications of the combined financials have not occurred to most people yet. By the end of this year we may all have a very different view, not only of property, but many other difficulties, IMVHO.
 
natashia said:
Mixed barrage of signals here

I for one think that property in Perth will pick up in Year 2010...Yet my lawyer states there are many migrants arriving in Perth and houses are in dire need... so where are these people ??
I am confused :confused:
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It's a difference of opinion that makes markets work. For example, when you sell shares you may be doing so because you think the price will fall, but remember that the person who buys your shares expects them to go up. It's the same in housing at the moment.
 
This article is from 6/4/08 dont know if it already has been refered to but I have just seen it.
http://www.iht.com/articles/2008/04/04/business/wbmarket05.php
As a weakening housing market appears to be dragging the U.S. economy into recession, the International Monetary Fund warned this week that home prices in other industrial countries were even more overvalued.
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That overvaluation was barely a third as high as in Ireland, where the IMF estimates that house prices were 32 percent higher than fundamentals would support. The Netherlands, Britain, Australia, France and Norway all showed overvaluations of at least 20 percent.
Click to expand...
 
natashia said:
Yet my lawyer states there are many migrants arriving in Perth and houses are in dire need... so where are these people ??
I am confused
Click to expand...

People are meant to be moving to the Goldcoast in record numbers as well, but plenty of rentals available where I live. Three in my street vacant in fact, for no more than they listed 12 months ago. Shortage is stretching it. Looking at others areas I am familiar with in SEQ and Melb, similar story there too.

Do you see people walking the street who do not have homes?

I'm starting to believe this "supply shortage" is the last clinging hope for property owners, just as the China story is the last hope for share owners, or the economy in general :) It keeps getting rolled out by either camp.
 
Macquack said:
Are the american people going to allow their currency to be worth less than the banana republic down under?
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Not sure the American people have mach say in the matter. The Bush admin and the Federal reserve have knocked up and allowed so much debt since 2001 that down the gurglar is the only direction I can see. Be worth you checking the "Imminent and servere market correction" thread
 
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