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The future of Australian property prices
- Thread starter Joe Blow
- Start date
hello,
i reckon real estate agents (REIV members of course) should have to notify the REIV of auctions for the forthcoming weekend and then results can be matched.
The auction process is still a bit of theatre until the sig is on the contract. Great well to buy and sell though.
80% clearance for st kilda, must be outer suburbs dragging the overall down
Thankyou
Professor Robots
i reckon real estate agents (REIV members of course) should have to notify the REIV of auctions for the forthcoming weekend and then results can be matched.
The auction process is still a bit of theatre until the sig is on the contract. Great well to buy and sell though.
80% clearance for st kilda, must be outer suburbs dragging the overall down
Thankyou
Professor Robots
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Even when the Southern Expressway is duplicuted and the Northern Expressway, connector and South Road Superway are completed, there will still a lot of goat track in between dressed up as a main aterial.
That's going to be one very expensive problem to overcome as Adelaide grows.
If the guy at www.thegreatbustahead.com is right then the next 15 years is not going to be good for property anywhere. He might be wrong though. Time will tell.
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With more stock on the market & failing to sell, the rise has obviously come to a halt, especially with at least one more rate rise ont he cards for the end of the year.67% yesterday vs 87% same time last year? And this is the most houses auctioned in a single weekend for some time? ok
Not a shuddering crash, merely a halt (with the likelyhood of a slow pullback in coming months).
Where's the panic?
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The guy who has made the same prediction for 7 years and is trying to sell his book, you mean?
Yeah, pass thanks.
That's what I used to say until I read it. I'm sure you have heard of Harry Dent Jr, famous for predicting the bull run based on demographics. Well this book is a summary of what Harry thinks is coming. I have read it and it all makes sense and I can now see signs of it starting everywhere.
Like I said he (they) might be wrong but the question that everyone should consider is what if these guys are right? Can I handle my debts if my property values fall? Can I handle my debts if my properties wont sell? Can I handle my debts if the banks stop lending? All of these happened during the GFC.
The GFC showed that many out there couldnt because they were too highly geared and too reliant on equity redraw to cover repayments.
For me the anwsers were this.
If these guys are right I will be in the proverbial,
If they are wrong I will miss out on some profit.
I would rather miss some profit than risk losing everything so I have sold up and wont be touching real estate for a long time. And considering the hassles of dealing with agents, tenants and magistrates, probably never again.
BTW the prices I actually got were all well below the banks value and some houses took over 12 months to sell. My real wealth turned out to be a lot less than my paper wealth.
Just my 2c.
explod
explod
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An absolutely excellent post. I was howled down a few years ago for recommending such reading and espousing the messages. So I have stopped posting it.
I sold all of my real estate for the same reasons. Stock market and gold has been very good and safe. Gold up 30% per year since. You can move things around fast also.
You can take a donkey to water but you cant make it think.
wayneL
VIVA LA LIBERTAD, CARAJO!
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And how many years have CBs been flushing money into the system?
7ish?
The big question is how many more years they can keep doing it.
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Equity redraw to cover repayments?
Perhaps yes if you're considering the lunatics in the US that were signing up unemployed types to NINJA loans in a non-recourse environment, but Australian lending standards were much higher than the US and continue to be so.
It's worth noting that the LMI providers enacted the bulk of their tightening measures in Australia before the crisis hit.
Congrats, you've amended your investment portfolio to match your appetite for risk which is really what everyone should aim for.
Given the e-book site you linked to is written in the same formula as every other sales pitch I've seen for an e-book, I'll be happy to base my decisions on a multitude of other information thanks.
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Arguably many years longer but there's a can of worms that could take up it's own thread in itself (dominated at least one of the other property threads from memory).
tech/a
No Ordinary Duck
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Until the supply problem is solved your not going to see a decline (Other than in areas of over supply) in house prices of any appreciable number.
explod
explod
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And of course it is the big issue going forward. The basic fundamentals of money supply and its costs. When the nitty gritty is pointed out people begin to get very cross, and yes it destroys sensible debate.
But on effecting property price direction it cannot be sidestepped.
hello,
i was in the same position as you Explod, howled down, ridiculed, physically abused for talking about property and 6 fantastic years have almost past, i thought my career was over
so i kept posting to help the wider community and others like myself just do it to help out fellow man
we not selling books or asking for donations (a la S.Keen), the rises have been great
the money supply is no different to 10, 20 or 30yrs ago, go to the bank and get a loan, pay it down, get a new one,
thankyou
professor robots
wayneL
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I just nearly asphyxiated myself laughing at that one.
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? you got physically abused for talking about property?
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Trip report on this one please robots
hello,
yes, i was on the pushie and came across a Same Sex Marriage Rally at the corner of Bourke & Swanston St in Melbourne
the socialist party had a table set up and i was discussing "Life" with one of the attendants, next minute he had me in the submission hold and slammed me head first into the pavement, just left me there
it was straight out of WWE, amazing
thankyou
professor robots
wayneL
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He must have been an ASF member and figured out who you are.
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Truly amazingAnd ya reckon oz is the place to live?
At least in the U.S.A ya coulda busted a cap in his @ss
