The future of Australian property prices

robots · 24 December 2010

explod said:
Good point, that is exactly how they want us sheeple to be.

ASF is an education program and those who think they have the right to control do not like it.

Off topic. But I do think property prices are headed down

hello,

just a pity on this thread Explod we got all the know it alls at the front of the class, the text book crew

the others who take on the practical end up with the top marks, oh well life goes on

gidday BigAl, bit jealous man, dont like what i write then put me on ignore, although you will be gone in a couple of months, probably just get maybe 100-200 posts then oh gee: anyone seen BigAl

another for the list,

a few more uniformed went down this week hey Explod? oh well, should think before you hop into the REIV, real estate agents, auctioneers etc

thankyou
professor robots

Vicki · 24 December 2010

hello,

just a pity on this thread Explod we got all the know it alls at the front of the class, the text book crew

the others who take on the practical end up with the top marks, oh well life goes on

gidday BigAl, bit jealous man, dont like what i write then put me on ignore, although you will be gone in a couple of months, probably just get maybe 100-200 posts then oh gee: anyone seen BigAl

another for the list,

a few more uniformed went down this week hey Explod? oh well, should think before you hop into the REIV, real estate agents, auctioneers etc

thankyou
professor robots

i'm out of the loop here.
Who is Professor robots, what's his opinion of the the oz r/e market for the near future?

What a character of intrigue.

Vicki
p.s.Merry christmas robots.

robots · 25 December 2010

hello,

yeah thanks Vicki, merry christmas

thankyou
professor robots

explod · 25 December 2010

robots said:
hello,
a few more uniformed went down this week hey Explod? oh well, should think before you hop into the REIV, real estate agents, auctioneers etc

thankyou
professor robots

No worries con$$essor, am sure your complaints will be heard in due course and to think does not seem to be on topic for this thread. Maybe we could start a thread on your allegations of police corruption and my involvement in your view, it could create a lot of interest there botty.

The direction of property is a bit of a worry though, just like the stamp duty and all the other fees we need to look at the agents taking 2 and a half % plus extras for advertising mostly with the agents name in the bigger print.

So in the new year with things not looking so good and clearance rates down we need to look at a "buy and sell your home on ebay" system with some good inhouse packages including the conveyancing too. If the vendors can save a bit more at this end of things they will be able to recover a bit more for the banks.

Maybe REIV members could display our ebay homes sales promo stickers on thier big black BMW rear windows, just like those "save the bay from dredging" ones. Now that would be a benevolent gesture much appreciated by the honest hard workers like yourself bots.

Lolliepop, bubbles and Christmas cheer to you there botty.

robots · 25 December 2010

hello,

yeah no worries Explod, go back through my posts as i havent alleged anything, just asked a few questions and the reaction is typical from those who throw dirt against other professions

all professions go down for dodgy practices and find it amusing,

i am not a agent, i work in the construction industry infact just a humble labourer just trying to get by in life

merry christmas

thankyou
professor robots

Vicki · 25 December 2010

The direction of property is a bit of a worry though, just like the stamp duty and all the other fees we need to look at the agents taking 2 and a half % plus extras for advertising mostly with the agents name in the bigger print.

So in the new year with things not looking so good and clearance rates down we need to look at a "buy and sell your home on ebay" system with some good inhouse packages including the conveyancing too. If the vendors can save a bit more at this end of things they will be able to recover a bit more for the banks.

Maybe REIV members could display our ebay homes sales promo stickers on thier big black BMW rear windows, just like those "save the bay from dredging" ones. Now that would be a benevolent gesture much appreciated by the honest hard workers like yourself bots.

As silly & absurd as it sounds, an e-bay system could work remarkably well,
combined with some flat-rate people like in my area there's a guy who for a flat fee of $1000.00 will help with paper work & showing people through etc. If you can attract a buyer.

An added e-bay 'click' calculator function amongst others, could be a simple 'clearance rate' updated daily etc.

All those guys in suits & beamers would hate that one.....The secret would be out, that most houses sell themselves, people just need to know where they are. & perhaps negotiate....Not worth a 20k fee in my book.

Think I had too much Chardonnay last night...still feeling tippsy lol.

Hve a great day.

Vicki

robots · 29 December 2010

hello,

oh gidday Professor Robots here

well another year almost over and guess what the crash didnt turn up in 2010 like all predicted, so that makes it 1970-2004, 2005, 2006, 2007, 2008, 2009 and 2010, oh well

RE hanged in there AGAIN

probably the highlight for the year is all round good guy Steve Keen who walked the path to enlightenment, hanged around and took it on the chin unlike the thousands of faceless men and women who deface internet forums then run and hide

oh well, beautiful sunny day on the cards, great day for the pushie

thankyou
professor robots

Vicki · 29 December 2010

Yes, our r/e market has held up queit well, but then again our interest rates have gone from very low to average at current levels.

If people are struggling at 7.5 to 8%, then I wonder what might happen if there are any more rate hikes?

As far as crashes, yes I did read that the dow might have had a sharp reversal by now, but on the other hand, these forcasts were also running into 2011-12.

Looking at the state of the US economy, you don't have to stretch the imagination too much, to realise this may cause a knock-on effect, that could cause some 'shocks' to other markets, ours included.

Anyway, I guess only time will tell?

Vicki

electronicmaster · 29 December 2010

robots said:
hello,

oh gidday Professor Robots here

well another year almost over and guess what the crash didnt turn up in 2010 like all predicted, so that makes it 1970-2004, 2005, 2006, 2007, 2008, 2009 and 2010, oh well

RE hanged in there AGAIN

probably the highlight for the year is all round good guy Steve Keen who walked the path to enlightenment, hanged around and took it on the chin unlike the thousands of faceless men and women who deface internet forums then run and hide

oh well, beautiful sunny day on the cards, great day for the pushie

thankyou
professor robots

Keep selling, this year was only the beginning of the down trend ))

Wait to see the Banks foreclose on everyone. It is going to be magic )

:fan
:fan

Dowdy · 29 December 2010

electronicmaster said:
Keep selling, this year was only the beginning of the down trend ))

Wait to see the Banks foreclose on everyone. It is going to be magic )

:fan
:fan

You know price are going to fall the the optimists say it's going to be FLAT/ STEADY SLOWDOWN etc....

The optimists were saying the exact same thing in the USA about 8 months before it crashed, so look around OCT, NOV or DEC next year for prices to start falling heavily.

But hey, Australia is........different.

tech/a · 29 December 2010

Dowdy said:
You know price are going to fall the the optimists say it's going to be FLAT/ STEADY SLOWDOWN etc....

The optimists were saying the exact same thing in the USA about 8 months before it crashed, so look around OCT, NOV or DEC next year for prices to start falling heavily.

But hey, Australia is........different.

Yep sure is.
(1) You cant walk out of your house throw the keys to the bank and leave them with the debt.
(2) We Dont and never will have the over supply that the US had/has.
(3) We Dont have a government printing billions of dollars to cover its debt.
(4) We Dont have Banks closing down due to poor lending practice.

Australia is VERY different and your damned lucky to be a citizen of hers.

trainspotter · 29 December 2010

tech/a said:
Yep sure is.
(1) You cant walk out of your house throw the keys to the bank and leave them with the debt.
(2) We Dont and never will have the over supply that the US had/has.
(3) We Dont have a government printing billions of dollars to cover its debt.
(4) We Dont have Banks closing down due to poor lending practice.

Australia is VERY different and your damned lucky to be a citizen of hers.

Add a few more to the list:-

1) A very low default rate of 0.5% of all housing loans.
2) A low unemployment rate of 5.3% and improving private sector wages growth.
3) A different tax regime. No capital gains on selling PPOR unlike USA as well as interest component not tax deductible.

Gooooooooooooooooooo Professor robots !!!!!!

electronicmaster · 29 December 2010

tech/a said:
Yep sure is.
(1) You cant walk out of your house throw the keys to the bank and leave them with the debt.

True, so most will have to go Bankrupt

tech/a said:
(2) We Dont and never will have the over supply that the US had/has.

Over supply is one component. There was liar loans, Synthetic CDO's, Lack of Jobs, credit card Debt, and of course Banking system Failure (The credit freeze).

Most Banks in Australia in the past (Until 2010) lent 80% to 100% to a lot of people. At the lower interest rates.

Housing is not an investment to the average joe. It is just a Home. Unless you can make money (income), after all expenses. Otherwise, most people rely on income from their jobs to pay back the interest.

Also, Money is coming in from China. China are in control now.
Chinas interest rates are up now too.

tech/a said:
(3) We Dont have a government printing billions of dollars to cover its debt.

Nope, we use the Bail out money from the Federal Reserve in the USA
And interest Rates just keep on going up?

Of course we are paying high rates on stamp duty (depending on the sate you investing in), GST, legals, Insurance, and more costs to boot.

Inflation is high here in Australia.

tech/a said:
(4) We Dont have Banks closing down due to poor lending practice.

Oh RAMS? yess? Westpac took over their good books, god knows what happened to the bad books.

Also. NAB, Westpac and possibly other Banks are in a poo. And already had bail outs from... The FEDERAL RESERVE BANK back in 2008 and 2009. And we only just found out now? What have they not told us? Oh,,, those massive Bank profits might be a give away.

tech/a said:
Australia is VERY different and your damned lucky to be a citizen of hers.

Yess. I love my Media that details nothing and our Crook Government who work for the Bankers. Excellent stuff

Oil is going up to 150.00 USD per Barrel and then to ~$200.00 USD. that should make life interesting I'd say.

tech/a · 29 December 2010

electronicmaster said:
True, so most will have to go Bankrupt

no they will do what we all did when interest rates went to 18%.
Cut down to tinned food and take any extra work we can to get through.

Over supply is one component. There was liar loans, Synthetic CDO's, Lack of Jobs, credit card Debt, and of course Banking system Failure (The credit freeze).

Most Banks in Australia in the past (Until 2010) lent 80% to 100% to a lot of people. At the lower interest rates.

Housing is not an investment to the average joe. It is just a Home. Unless you can make money (income), after all expenses. Otherwise, most people rely on income from their jobs to pay back the interest.

Also, Money is coming in from China. China are in control now.
Chinas interest rates are up now too.

Over supply is the main component.
Too much supply you cant sell it.
Happens here in areas of over supply.
But not even remotely near the US extent.

Nope, we use the Bail out money from the Federal Reserve in the USA
And interest Rates just keep on going up?

Of course we are paying high rates on stamp duty (depending on the sate you investing in), GST, legals, Insurance, and more costs to boot.

Inflation is high here in Australia.

It is?

Oh RAMS? yess? Westpac took over their good books, god knows what happened to the bad books.

Also. NAB, Westpac and possibly other Banks are in a poo. And already had bail outs from... The FEDERAL RESERVE BANK back in 2008 and 2009. And we only just found out now? What have they not told us? Oh,,, those massive Bank profits might be a give away.

What planet are you on?

Yess. I love my Media that details nothing and our Crook Government who work for the Bankers. Excellent stuff

Oil is going up to 150.00 USD per Barrel and then to ~$200.00 USD. that should make life interesting I'd say.

Sure will
Long oil and Interest rates will stay stat!

electronicmaster · 29 December 2010

tech/a said:
no they will do what we all did when interest rates went to 18%.
Cut down to tinned food and take any extra work we can to get through.

Medium housing was not averaging $400,000 back then, and you only needed one income per house hold.

tech/a said:
It is?

Inflation? hell yea, We can buy the same things cheaper over seas.

tech/a said:
What planet are you on?

Have you not read the reports?

NAB and Westpac's Secret
Bailout Revealed
Friday 3rd December, 2010 - Melbourne, Australia
By Kris Sayce

http://www.moneymorning.com.au/20101203/nab-and-westpacs-secret-bailout-revealed.html

CamKawa · 30 December 2010

electronicmaster said:
Have you not read the reports?

NAB and Westpac's Secret
Bailout Revealed
Friday 3rd December, 2010 - Melbourne, Australia
By Kris Sayce

http://www.moneymorning.com.au/20101203/nab-and-westpacs-secret-bailout-revealed.html

Some interesting reading indeed. Just goes to show how bent Australian media is when it comes to property. The thing that amazes me is how just how simple and native the property spruikers on this forum are.

nukz · 30 December 2010

CamKawa said:
The thing that amazes me is how just how simple and native the property spruikers on this forum are.

Yea, sometimes i wonder that as well.

It always rings alarm bells when somebody states something will never happen.

For example stating a oversupply would never happen. Regardless of if you are a bull or bear on property you should be carefull getting information from realestate agents and REIV sort of agency's because they have a obvious vested intrest.

Junior · 30 December 2010

CamKawa said:
Some interesting reading indeed. Just goes to show how bent Australian media is when it comes to property. The thing that amazes me is how just how simple and native the property spruikers on this forum are.

I find it astonishing that this hasn't been front page news....after we've had politicians and the media harping on and on about the 'strength of our financial system' for the past 3 years. Whereas the reality is, at least one of our big banks would likely have FAILED if it wasn't for the US fed reserve dishing out USD to anyone who put their hand out.

I wonder why this hasn't been reported...I have no doubt there's journalists out there who would love to conduct a full investigation into the behaviour of our bankers throughout the GFC.

Not to mention the ASX, these emergency loans weren't even disclosed to shareholders, at any stage.

Trembling Hand · 30 December 2010

Junior said:
at least one of our big banks would likely have FAILED if it wasn't for the US fed reserve dishing out USD to anyone who put their hand out.

Oh god. This is a sh!te bit of scaremongering. So what? They tapped some short term loans at a miesly interest rate because the finacial system had gone into melt down and there was no cash for short term commitments. This anit news people. What the hell do you think all the problems where about back in 08 then?

Its nothing more than a "Today Tonight" journalism.

nukz · 30 December 2010

Trembling Hand said:
Its nothing more than a "Today Tonight" journalism.

Does this story have anything to do with the following:

War widows
Single mums
weight loss
mortgage stress
fat kids

Sorry bro this story is not today tonight material lol

Unless of course the CEO/Exec's of one of Australia's big banks is a single mum... then that would be a exclusive story for today tonight haha

The future of Australian property prices

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