House prices to stagnate for 'years'

[Flying Fish]

Thanks Happytrader,


Ahh excellent, thats 20pc over this year !


What NQ Town are you from ?

Probably a town near the mines.

 

[Kathmandu]

Probably a town near the mines.

Have alook at that article i posted a couple of pages back.

All major regional citys Glady to Cairns have done 20%+, but Townsville has done 20%.

If 500k from a mine is a mining town, well I suppose Brisbane Sydney Adelaide and Perth are mining towns as well

Dave

 

[numbercruncher]

You pretty much need a 20pc gain in the First 12 months just to break even anyways

 

[Flying Fish]

Don't know why one would spend so much money on a place there because:

a) there are cyclones:
b) there are thousands of acres of cane farms which will one day be filled with legoland so anyone paying 300000+ for a house there will be shafted.

 

[numbercruncher]

Exactly FF, these guys would have you beleive thats there is a land shortage in Australia


If you buy a 400k owner occupied house in QLD with cash you and you decide to sell the very next day through a RE agent you need to get atleast 420k to break even. (430 in Vic, 425nsw)

If you buy 400k of BHP and decide to sell the next day you need to get 400.04k to break even.

Pretty cool hey

 

[numbercruncher]

Claims of soaring rents and a crisis facing tenants around the country may be an exaggeration by a real estate lobby desperate to turn around the moribund property market.

http://www.realestate.com.au/review/mar07/article3.html?from=review


Oh whoever would of thunk it ???

 

[nioka]

Exactly FF, these guys would have you beleive thats there is a land shortage in Australia


If you buy a 400k owner occupied house in QLD with cash you and you decide to sell the very next day through a RE agent you need to get atleast 420k to break even. (430 in Vic, 425nsw)

If you buy 400k of BHP and decide to sell the next day you need to get 400.04k to break even.

Pretty cool hey

You would be pretty thick up top to want to sell the next day so your point is of no use to this discussion. There dosen't seem to be many day traders in the home market. However it can happen. I once bought a block of land for $1000. After we had signed the contract another buyer came along and wanted it. I told him it was for sale at $6000 and he agreed to buy it. ( 10 years later it sold for $250,000 and recently for $1,200,000) That beats shares.

 

[numbercruncher]

Once i bought a MArs bar for $1 and this hungry guy came along and Bought it for $6, he saved it and sold it 10 years later all moldy for $250 then this collector of Mars bars came along and paid $1200 for it.

Like yourself i dont have any proof of this claim, but none the less it beats shares.

Have a nice day !

 

[Fleeta]

Once i bought a MArs bar for $1 and this hungry guy came along and Bought it for $6, he saved it and sold it 10 years later all moldy for $250 then this collector of Mars bars came along and paid $1200 for it.

Like yourself i dont have any proof of this claim, but none the less it beats shares.

Have a nice day !

Bit rough to presume that people are lying on this forum mate, sounds to me as though you are a little jaded. You gotta admit that property gives you leverage you could never get out of the share market (without taking stupid risks).

 

[numbercruncher]

Bit rough to presume that people are lying on this forum mate, sounds to me as though you are a little jaded. You gotta admit that property gives you leverage you could never get out of the share market (without taking stupid risks).

85pc of Australians dont trust Realestate agents and Im one of them, one of the Agents that posts here every week Has been claiming a 20pc jump in prices every weekend for the last 3 months - Dont need to be a genius to work out its all ramp and lies.

You can get loads of Sharemarket leverage if you wish, one fund im in borrows 3 for every 1 - with no borrowing risks to me and to boot I can increase the exposure as comsec offers 50pc LVR on the fund.

Just got a lease on a brand new house today, the owners are getting less than a 3pc return, the taxpayer obviously picks up some of the difference, heaps of rentals available ......

Ive made my decision, and im stoked so many realestate moguls are keen to rent me their brand new homes till I get bored of the view and move along.


have a nice day

 

[wayneL]

The dominoes are starting to fall.

 

[numbercruncher]

Heya Wayne !

Good to see some mainstream media publishing the Truth !!

As the tide gos out we will get to see whos wearing Boardies, whos wearing speedos and whos swimming naked !!

They say its the Flippers who get burnt the hardest in the Squeezes, up to there eyeballs at the turn of the tide and no one to catch the hot potato.

Interesting times ahead

 

[robots]

hello,

just got back from signing up new vendor

vendor has set reserve at 675k, so going to advertise at 500k plus

auction in 4 weeks, will be good

thankyou

robots

 

[Kathmandu]

You would be pretty thick up top to want to sell the next day so your point is of no use to this discussion. There dosen't seem to be many day traders in the home market. However it can happen. I once bought a block of land for $1000. After we had signed the contract another buyer came along and wanted it. I told him it was for sale at $6000 and he agreed to buy it. ( 10 years later it sold for $250,000 and recently for $1,200,000) That beats shares.

Bet your kicking yourself, but hindsight's a wonderful thing

Dave

 

[explod]

Once i bought a MArs bar for $1 and this hungry guy came along and Bought it for $6, he saved it and sold it 10 years later all moldy for $250 then this collector of Mars bars came along and paid $1200 for it.

Like yourself i dont have any proof of this claim, but none the less it beats shares.

Have a nice day !

There are day traders who claim to be able to exceed 10% per month.

If that is right and they maintain just that growth then in ten years, $100 at 10percent per month compounds to $6 million. Now that sure beats real estate.

 

[numbercruncher]

Some further info for Waynes headlines ...

House prices fell for the first time in nearly two years in the three months to August and the outlook for the market is subdued because of higher borrowing costs and financial market troubles.

The Royal Institution of Chartered Surveyors' house price index for August fell to -1.8 from a downwardly revised 10.8 in July -- the first negative reading since October 2005.

Enquiries from potential homebuyers fell for the ninth month in a row and at the fastest pace since August 2004, while newly agreed sales fell for the third straight month and at their fastest rate in nearly three years.

http://today.reuters.co.uk/news/articleinvesting.aspx?type=personalFinanceNews&storyID=2007-09-13T061852Z_01_NOA322700_RTRUKOC_0_HOUSE-PRICES-RICS.xml


And this is on a tiny Island nation with a huge 60m+ population !

Imagine the potential drops if they had an oversupply of land ... say like Africa or something

 

[Kathmandu]

There are day traders who claim to be able to exceed 10% per month.

If that is right and they maintain just that growth then in ten years, $100 at 10percent per month compounds to $6 million. Now that sure beats real estate.

Are you one of them ?

Dave

 

[wayneL]

hello,

just got back from signing up new vendor

vendor has set reserve at 675k, so going to advertise at 500k plus

auction in 4 weeks, will be good

thankyou

robots

You said you weren't in the industry, now you say you are :headshake

Exactly as I suspected of you, a VI. :twak:

 

[numbercruncher]

Housing crisis set to worsen
Thursday Sep 13 16:45 AEST
The housing sector remains in bad shape with the housing affordability crisis tipped to worsen amid predictions that interest rates will likely rise again.

Australian dwelling commencements fell by four per cent to 36,512 units in the June quarter, figures released Thursday by the Australian Bureau of Statistics (ABS) show.

http://news.ninemsn.com.au/article.aspx?id=59380

 

[numbercruncher]

You said you weren't in the industry, now you say you are :headshake

Exactly as I suspected of you, a VI. :twak:

Some 85 percent of Australians don't trust real estate agents, according to a survey by a home lending group

http://money.ninemsn.com.au/article.aspx?id=291207


A good mate of mine used to sell realestate, at an " Auction " another agent was taking phone bids, as he was calling out the new/higher phone bids his phone rang because being a dumbarse he forgot to switch it of for the price pumping act.




Realestate industry virtually needs a Royal enquiry IMHO.