House prices to stagnate for 'years'

[robots]

hello,

anybody catch topgear last night?

great vision of the "united states of america", the greatest country on the earth where car salesmen carry pistol's on them at work and keep a rifle with scope in office for capping runners

and you get rocks thrown at you if have hilary for president on your car driving thru Alabama

no wonder they are on 2x average wage

thankyou

robots

 

[Kimosabi]

hello,

anybody catch topgear last night?

great vision of the "united states of america", the greatest country on the earth where car salesmen carry pistol's on them at work and keep a rifle with scope in office for capping runners

and you get rocks thrown at you if have hilary for president on your car driving thru Alabama

no wonder they are on 2x average wage

thankyou

robots

The guns are now for Real Estate Spruikers...

Hilary used to be a Real Estate Spruiker....

In Australia, we'll just use Salty Water on our Real Estate Spruikers...

This is a sign of what will be coming to Australia soon, I sure wouldn't want to be a Real Estate Spruiker in the near future...

 

[numbercruncher]

Thats your excuse for US, whats the excuse for Canada ? To many Bears and Groundhogs perhaps ?

 

[Kimosabi]

Thats your excuse for US, whats the excuse for Canada ? To many Bears and Groundhogs perhaps ?

Oh, don't forget, the UK, Ireland or Spain....

 

[robots]

hello,

i saw Vancouver on an edition of Cops one nite and doesnt look much different,

ice pipes, 9mm's

crack head's pimping (it aint easy), trailer parks everywhere

thankyou

robots

 

[Kimosabi]

This is what Aussie Real Estate Spruikers have to look forward to in a few years...

 

[robots]

hello,

havent heard to much out of London lord, wayne is onto that place

brother is currently in ireland and things are still looking good

now spain they seem to have a problem with terrorists

and thats why good ol' Australia is at the top, because we grab em and lock em, keep the streets clean of most

thankyou

robots

 

[theasxgorilla]

and thats why good ol' Australia is at the top, because we grab em and lock em, keep the streets clean of most

It ought to come as no surprise that a state originally founded as a penal colony has the greatest police state tendencies out of all the aforementioned...but don't get me started on that in any case.

 

[wayneL]

hello,

havent heard to much out of London lord, wayne is onto that place

brother is currently in ireland and things are still looking good

Ahahahahahahahhahahah!

Ohehehehehehehehehheehehehe!

Eheheheheheheheheheheheheh!

Ireland is off big time mate.

Find some Ireland forums and see.

ROTFLMAO

 

[robots]

hello,

no its not wayne, I have people on the ground over in Derry right now

I know i will find a similar forum to GHPC do doubt where all the moaners are

http://au.news.yahoo.com/080129/2/15o5k.html

another great article on the USA,

would prefer people in the big house than on the met with a bomb in the backpac spoiling the lives of others any day,

even it is the slightest whisper of evidence,

thankyou

robots

 

[wayneL]

hello,

no its not wayne, I have people on the ground over in Derry right now

I know i will find a similar forum to GHPC do doubt where all the moaners are

Bot,

It's even been in the news mate. Ireland's bubble is popping. Sorry.

PS I won't bother looking through archives, I'll just wait for a fresh report and post it.

 

[numbercruncher]

hello,

no its not wayne, I have people on the ground over in Derry right now

Do your people read the paper over there ? Just grabbed a copy of the Derry Journal and this is what they had to say on the matter .....

LISBURN estate agent Tom McClelland has described the last few months of 2007 as 'extremely difficult' for Northern Ireland's housing market.

Eighty two per cent of chartered surveyors contributing to the index recorded a price decline with just 18 per cent finding no change in the cost of a home.

http://www.derryjournal.com/news/ESTATE-AGENT-DESCRIBES-END-OF.3695022.jp

But then again who would trust an estate agent, that Tom chap is probably making that up

 

[wayneL]

http://www.thisislondon.co.uk/news/...credit crunch, warns City watchdog/article.do

1 million could lose their homes.

 

[Kimosabi]

UK Home Prices To Drop 10% In 2008?

http://www.dailymail.co.uk/pages/live/articles/news/news.html?in_article_id=510980&in_page_id=1770

 

[numbercruncher]

Relevant to this discussion, how do prices go up if people are pretty much maxed out ? There must be a ceiling on how much even the dumbest bankers will lend to the sheeple ? Inflation and loads of it can be the only way out im thinking .....

PETER CAVE: An expert on personal debt is warning that Australian households are now in a worse financial position than during the Great Depression.

Dr Steve Keen from the University of Western Sydney is the author of a monthly chronicle called Debtwatch.

He says the levels of personal debt, as a proportion of the economy are now twice what they were during the 1930s.

http://www.abc.net.au/worldtoday/content/2007/s2055693.htm

 

[explod]

Relevant to this discussion, how do prices go up if people are pretty much maxed out ? There must be a ceiling on how much even the dumbest bankers will lend to the sheeple ? Inflation and loads of it can be the only way out im thinking .....




http://www.abc.net.au/worldtoday/content/2007/s2055693.htm

Yep, as the global economic problems even out (as water) they wont. We are approaching the classic societal divide of the 3 tier;, the rich, the average and the poor.

As a hedge many of us think gold, oil, food as investements. The upper to very rich will include property, but only the good stuff. I see it happening here where I live on the east to south side of Port Phillip Bay. Suburbs such as Breighton, Sorrento and some parts of Mount Martha/Mornington, some inner city, Armadale and Toorak will never drop off a great deal and in times of inflation, as we are approaching it is a store of wealth also.

These areas and those near to them are the ones that real estate pundits hang their hats on to say property is booming. Ok, it is/it has, is where we are at now IMHO.

Soon however due to costs of food, fuel, interest rates and a drop off in related employment the areas here outside of those I specifically mentioned will fall big time (in my view) and from where I sit it is happening now.

 

[Temjin]

Relevant to this discussion, how do prices go up if people are pretty much maxed out ? There must be a ceiling on how much even the dumbest bankers will lend to the sheeple ? Inflation and loads of it can be the only way out im thinking .....




http://www.abc.net.au/worldtoday/content/2007/s2055693.htm

It's about time he speaks out in public. The mainstream public never knew he existed in the first place, nor believe in his view on debt and chant, I will laugh at those people saying properties will fall in price!

 

[numbercruncher]

UK Home Prices To Drop 10% In 2008?

http://www.dailymail.co.uk/pages/live/articles/news/news.html?in_article_id=510980&in_page_id=1770

Further to that .....

About 1.4 million mortgagees will see their fixed-rate loans mature this year, causing their repayments to rocket by an average of £210 a month.

http://business.timesonline.co.uk/tol/business/money/property_and_mortgages/article3273492.ece

Thats pretty huge, about 500 skippys a month, combined with falling prices, I see some keys being posted back to the bankers !

 

[CamKawa]

I've just taken a look at the REIV web site and found that in the last quarter of '07 much to my surprise a couple of leafy suburbs in Melbourne have fallen in price. Glen Iris is down -4.8% and Kew -6.6%.

This is only one negative result from one quarter so there's no need to panic but if Kew were to fall again by say -3.4% that would make it -10% for the half year. Now you can't get much of a house in Kew for under a million bucks so if it dropped 10% that would cost the buyer 100 grand, and on top of that one may well be paying interest on a mortgage. Only a small drop in house prices costs big money. In the above scenario pain would be your friend.

 

[numbercruncher]

And Kew is a nice suburb, I lived there years ago in far Kew

Its also one of Melbourne Realestates star performing subrubs, just the beginning is my punt.





Realestate only has to stagnate in current Interest rate enviroment for it to effectively be losing value. House in Kew loses 100k combined with the 100k you would get in bank interest on the purchase price less the 800 a week you could rent it for, adds to serious cash.