House prices to stagnate for 'years'

[Mofra]

get them going with hammers, nail guns, concrete mixers and build some houses, oh no, work

A RE (snake oil) agent talking about real work - now I've heard everything

 

[numbercruncher]

Speaking of one eyed capitalists (no offense Robotics)


Hello,

How are you ?

You know when i realised that this problem was getting out of hand ?

Was when 60m ran an article about the mining boom one example was a School teacher who enjoyed his Job (incidently in a Industry with a MASSIVE shortage of Males).

He threw in His teaching job to do a two week course to get a Truck licence and go work in a Dusty open cut mine for over double the Income because his Teachers wages wernt cutting it.

Thanks Johnny "big brows" you really are speeding up the rate of dumbing down Australia.

Thankyou.

 

[Kimosabi]

hello,

the affordability crisis is load of rubbish NC,

look at the "australians for affordable housing", they want donations, come on

the hand out crew are everywhere, I see them going to get $5 pills from the chemist while I pay $20 for 10 tabs of amoxycillin, sick of them

get them going with hammers, nail guns, concrete mixers and build some houses, oh no, work

others have shown RE is available at reasonable prices all over Aus

big day yesterday, around 83% clearance rate, great stuff for buyers

thankyou

robots

These wouldn't be Repo Auctions would they Mr RoboSpruiker?

 

[Flying Fish]

Speaking of one eyed capitalists (no offense Robotics)


Hello,

How are you ?

You know when i realised that this problem was getting out of hand ?

Was when 60m ran an article about the mining boom one example was a School teacher who enjoyed his Job (incidently in a Industry with a MASSIVE shortage of Males).

He threw in His teaching job to do a two week course to get a Truck licence and go work in a Dusty open cut mine for over double the Income because his Teachers wages wernt cutting it.

Thanks Johnny "big brows" you really are speeding up the rate of dumbing down Australia.

Thankyou.

Frankly I'd rather drive a truck than have to put up with the misshappen youth of todays society. They are all hyped up through the media and most think and probably do know more than the teachers., then there is hassles with parents etc etc. Much rather sit in a comfy airconditioned cabin and do something that is challengning. Besides, can always go back to teaching later

 

[numbercruncher]

Frankly I'd rather drive a truck than have to put up with the misshappen youth of todays society. They are all hyped up through the media and most think and probably do know more than the teachers., then there is hassles with parents etc etc. Much rather sit in a comfy airconditioned cabin and do something that is challengning. Besides, can always go back to teaching later

Hi FF,

Im with you on that from a personal perspective.

But it was an example to make a point of the severity of the problem, if teachers are doing it, surely Nurses, Police, Military, Social workers, child carers etc etc are to - I think its a serious problem!

 

[robots]

hello,

couldnt care less if are repo auctions kimo, does it matter

the issue is kimo record prices are being achieved, prices havent stgnated

still cut up from missing out

thankyou

robots

 

[Kathmandu]

Well theoretically its already harder to get money....

1/ non bank lenders like wizard financing out of the US are struggling.

2/ Some people who would of qualified for loans before latest Interest rate rises would no longer do so.


And its already reflecting in the building figures, just need it to show in the sales figures, Even our resident perma bull realestate agent Robotics has informed us of a MASSIVE increase in the amount of houses coming to market in his suburbs which is potentially a warning.




http://www.smh.com.au/news/Business/Housing-affordability-slows-construction/2007/09/07/1188783465252.html

Its pretty much the concept of Peak Debt upon us in my humble opinion.

Well, from someone who has just finnished securing some more NO-doc lending from RAMS, I did not see any problems.

Higher interest rate than last time, but that's the cost of doing business.

Dave

 

[Flying Fish]

Hi FF,

Im with you on that from a personal perspective.

But it was an example to make a point of the severity of the problem, if teachers are doing it, surely Nurses, Police, Military, Social workers, child carers etc etc are to - I think its a serious problem!

No problem, little johnny will just let in more professionals, just like beatty let in semi qulified doctors. Not a problem.

 

[Kathmandu]

Thanks guy to all the above. Makes interesting debate. So in reality, it is probably a better bet to keep money out of property and put it in commodities, like wheat, corn and of course minerals.

Of course if things go belly up in the world like some here dream about, and consumerism drop's way off, Chindia wont need the resources.

Dave

 

[Flying Fish]

Of course if things go belly up in the world like some here dream about, and consumerism drop's way off, Chindia wont need the resources.

Dave

ok but most of the gear for housing boom is made in China anyway. Go look at all the tools hardware etc. ALL made in China.

 

[Kathmandu]

Hi FF,

Im with you on that from a personal perspective.

But it was an example to make a point of the severity of the problem, if are doing it, surely Nurses, Police, Military, Social workers, child carers etc etc are to - I think its a serious problem!

So, how's your training going to be a teacher, Nurse, Police, Military, Social worker, child carer.

Dave

 

[numbercruncher]

Of course if things go belly up in the world like some here dream about, and consumerism drop's way off, Chindia wont need the resources.

Dave

Morning Davo,

I havnt come across anyone here dreaming of things going belly up !


Why are you getting more no-doc lending , buying another House ? Whats the deal with no-doc anyways you just go in there show your drivers licence and in like flynn ?

Whats the interest rate ?

Cheers.

 

[Kathmandu]

Morning Davo,

I havnt come across anyone here dreaming of things going belly up !.

I'm sure there are a few, then they could maybe make up for the losses from not buying before

Why are you getting more no-doc lending , buying another House ?.

No, getting another "Free" house

Whats the deal with no-doc anyways you just go in there show your drivers licence and in like flynn ??.

And a 30% deposit

Whats the interest rate ?

8.29% on a deal that will have a conservative 200% gain in 3 months

Cheers.

Cheers

 

[Flying Fish]

why 30% deposit?

 

[Kathmandu]

why 30% deposit?

Cause that be the rules NO-doc 30%, Lo-doc and documented 20%

Dave

 

[noirua]

It does look as if Australia will stay good even if America and Europe slow down. Fortunately, China and India are set to expand quickly and should hold the world economies together.

If a hold for property represents 7, then Australia is probably 6.8, America 5.7, UK 5.5 (excluding Northern Ireland), France and Germany 6.

 

[Flying Fish]

It does look as if Australia will stay good even if America and Europe slow down. Fortunately, China and India are set to expand quickly and should hold the world economies together.

If a hold for property represents 7, then Australia is probably 6.8, America 5.7, UK 5.5 (excluding Northern Ireland), France and Germany 6.

Why 7?

 

[Smurf1976]

Peak oil is the big unknown. If it bites hard then economic output will suffer in an environment of increasing inflation (food,transport, etc etc). The possible outcome is similar to the 1970's when stagflation occurred. Even the Courier Mail had its lead article on page 1 about peak oil on Saturday's paper.

If the north gets even an average (as opposed to warm) winter this season then to my understanding there is essentially zero chance that oil production meets demand. At least not without a serious recession or some other means of cutting demand below where it would otherwise be.

At some point it's a choice between stock drawdowns delaying the inevitable and increasing strategic risk, price spikes forcing a lowering of demand initially in the Third World (ALREADY HAPPENING) or outright rationing. I think we'll see all of those in the next decade.

Economic growth? Not without energy you won't.

 

[numbercruncher]

Economic growth? Not without energy you won't.

Precisely.

The shift to rewables has to be the single biggest priority on every nations agenda - Those who fail to mitigate this problem are doomed to failure. And on the flip side those who are first to embrace it enmasse stand to reap untold fortune.

If the US had spent there Trillion from the Iraq war rolling out renewable instead of desperatley seeking Oil security they could of retained there place as undisputed economic powerhouse - I just hope Australia learns from this huge error.

 

[Shane Baker]

At some point it's a choice between stock drawdowns delaying the inevitable and increasing strategic risk, price spikes forcing a lowering of demand initially in the Third World (ALREADY HAPPENING) or outright rationing. I think we'll see all of those in the next decade.

Economic growth? Not without energy you won't.

It is all about timeframe and perspective. Certainly over the intermediate 5-10 year horizon we can expect a strong effect upon world growth by increasing energy shortages and risng energy costs feeding into the costs of products including food.

And the rising cost of energy will feed inflation and associated energy demand destruction via reduced economic growth will lead to stagflation.

I still think that commodity countries will have a better time of things as countries are forced to re-engineer their energy infrastructure to accomodate the new energy paradigm of renewables etc. In fact later developing countries such as China, India and parts of Asia will have an advantage to some degree as their infrastructure is relatively new and may be adapted to incorporate new technologies as they are developed. Western countries infrastructure is all generally immediate post WW2 war 2 vintage and in desperate need of renewal.

Cheers

Shane