Except Vic which is the only State I am intertested in. Anyone know of similar sites that include Vic?
Join up FREE with www.onthehouse.com.au and all prices are disclosed. The information all comes from the Titles Office. It shows history of sales for every house in Australia. It is excellent.
Corporate bonds.Im not sure you understand what fixed interest is. The highest fixed interest rate for cash deposits is just over 6%
7, 8, 9, or 10% ?? Not available for fixed interest rate on cash deposits. Some managed/index funds may have achieved this in the past but that is no guarantee for the future.
LOL at the media.
do you see a pattern here?
no?
i
This time is different.
Join up FREE with www.onthehouse.com.au and all prices are disclosed. The information all comes from the Titles Office. It shows history of sales for every house in Australia.
It is excellent.
That site is good but a few yrs out of date which will not show how fast things are tanking.
No, but the smart investors run with the herd. They just turn before the herd does.
This time is different. America increasing its debt (and congress not wanting to move to where Obama wants to go) their stimulis is coming out of the market, China in its own troubles, reckless inefficient government here, interest rates going up this time, not down.
If america decreases its consumption and China try to decrease inflation, we are in for BAD times.
Time will tell.
Just preparing myself to lose some more money, oh well.
Thats all good mate...
seen 40% + falls on select properties in my area already......that not enough? 80% discounts ya reckon?
where is the bottom? from where i am standing i cant see 80% discounts in a hurry regardless of overseas conditions.
dont get me wrong YES there is some major falls expected BUT on prices that are still expecting peak prices...... do the ones that are listing currently at major discounts to peak expect another 40% off ?
or is no one gunna be happy regardless of the discounts available currently?
I bought my first house for 50k , second one in same street for 42k...now that street got a median of 400k from a top median at peak of 480k..should i wait till its 50k again?
please tell me when thats going to happen
Is it now? Funny how with each bubble and bust it's always "this time is different".
LOL at the media.
Just an observation.
Pre market meltdown. .the media preached NOW was the best time to invest in the stock market......
Pre housing meltdown .....media preached NOW is the best time to invest in property...
stock market hit bottom..media screamed SELL SELL SELL
do you see a pattern here?
no?
i suppose following the herd is what all the cool kids do these days ....
Pick ya targets and leave the rest to the cool kids i reckon
Some of us could see the future of houseing some time ago. The media are only picking this up because Australia's tv economist Davis Kochie has jumped on the wagon.
House prices to stagnate for 'years'
By Nicki Bourlioufas
19sep05
HOUSE prices will likely stagmnate for "many years," dragging on consumer spending and economic growth, according to analysts at ABN AMRO.
Rising petrol prices are also causing shock to consumers, which will weigh on the economy, the analysts said in a report on consumer spending.
"House prices are likely to stagnate across the country for many years, most likely drifting lower as wages and rents slowly catch up," said analysts Felicity Emmett and Kieran Davies at ABN AMRO.
"Record high petrol prices and interest-servicing costs have both contributed to the slowdown in household spending, with growth in real household income slowing sharply, but the weakness in house prices also seems to have played an important role."
"House prices remain wildly out of line with wages and incomes, so it seems likely that household wealth will be a noticeable drag on spending for a very long time," the analysts said.
Households finances are in a fragile state, with people spending more than they earn and drawing down on the value of their homes to support spending, the report said.
"The admittedly poorly-measured saving rate is still negative, with income slowing in tandem with spending over the past year or so," the analysts said.
"Similarly, households are still actively drawing down equity in their homes." Households draw down on equity in their properties if rises in debt exceed the increase in the value of housing.
"New South Wales householders have been the most enthusiastic extractors of household equity, consistently withdrawing equity at the highest rate," the analysts said.
"This reached a peak in late 2003 when (NSW) households were withdrawing the equivalent of 12.5 per cent of consumption spending.
"Surprisingly, with Sydney house prices falling for a more than a year, households in New South Wales are still withdrawing equity at a rapid rate, equivalent to around 6 per cent of consumption spending.
"Elsewhere, housing equity withdrawal continues in the smaller states, but at more modest rates than seen in New South Wales," the report said.
Sydney house prices are around one-third more expensive than the next most expensive city, Melbourne, the report said. Sydney prices are around 12 times average earnings, while Melbourne prices are only around 9 times average earnings.
Rising petrol prices are also causing shock to the economy, the analysts said.
"Almost all industrialised countries, with Australia no exception, are net oil importers of oil, so the rise in energy prices is a negative for growth."
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