Wont be too far away Doc. ECB better buy them bonds tonight to prop up the Italians and Spaniards or we are in a world of pain. Crisis what crisis?
Australia wont be able to buy it's way out of this one. If the Gillard Guvmint tries it will be throwing itself over the financial cliff once commodity prices begin to slip as China gets the speed wobbles.
SOOOOOOO we are looking at a very interesting week. Make or break time. For the markets that is.
Where does that leave us on the property prices? Business as usual. Slowly does it.
You answered your own question in that post. Australia wont be able to buy it's way out of this one. If the Gillard Guvmint tries it will be throwing itself over the financial cliff once commodity prices begin to slip as China gets the speed wobbles.
No more propping up of the housing industry. No more hand outs. No more easy credit from the banks.
Fun times if you're cashed up and own a boat load of silver - bring it on
Where does that leave us on the property prices? Business as usual. Slowly does it.
RIGHT THEN ........ now we are getting somewhere. This could be the catalyst that I have been talking about. JOBS JOBS JOBS. If this happens then I can easily see a quickening slide on the 8 capital city average home price due to foreclosures.
LOL Uncle Festivus. All you permabulls. SHUCKS I am honoured you think this way. Where did I say that property will be doing fine? Where were you when I wrote this?
Hey Uncle .... people have to live somewhere you know? They all just can't wander the streets aimlessly or sleep under bridges. This is why people rent houses.
As for interest rates going down means that the majority of people will still be able to pay the mortgage. Yes yes yes there will be the usual victims that overleveraged and will have to sell due to foreclosures. Ho hum. Happened before it will happen again.
Last week everyone was squawking the reason property was going to fall was that interest rates were going to go UP and people would not be able to afford the repayments along with all the costs of living going UP etc. Looks like it will be going down now. SHUCKS, now aint that a biatch.
Any liquidity like cash or shares. Hahahhaahaaa sell your shares?? Who is gonna buy them in this market Uncle? 40 billion wiped out in 2 days of ASX trading. Liquidate your cash into what exactly? Interest bearing accounts? LOL .... now that's a good one. To qualify as liquid, you must be able to sell the asset quickly without a loss of value.
I might join robots in the dark room and observe as the bears come down to feast on the carcass of what was once an enjoyable thread.
<snip>I am looking forward to seeing any potential correction
LOL Uncle Festivus. All you permabulls. SHUCKS I am honoured you think this way. Where did I say that property will be doing fine? Where were you when I wrote this?
Hey Uncle .... people have to live somewhere you know? They all just can't wander the streets aimlessly or sleep under bridges. This is why people rent houses.
Any liquidity like cash or shares. Hahahhaahaaa sell your shares?? Who is gonna buy them in this market Uncle? 40 billion wiped out in 2 days of ASX trading. Liquidate your cash into what exactly? Interest bearing accounts? LOL .... now that's a good one. To qualify as liquid, you must be able to sell the asset quickly without a loss of value.
Well yes - I've been getting 6% at call, 'risk free' for over a year now....."Liquidate your cash into what exactly? Interest bearing accounts?
I have repeatedly explained that property has fallen in CERTAIN areas as well as the risk involvement in trading in property.
But alas, alack it falls on deaf ears and mute eyes and stagnant brains.
I might join robots in the dark room and observe as the bears come down to feast on the carcass of what was once an enjoyable thread.
Another day or two of Obama & Timmy blaming S&P for all their economic woes should do the trick nicely and steamroll the ASX in the process.
With millions of small-medium investors getting their immediate & future wealth crushed with no end in sight of the trainwreck unfolding, I wonder how many might start panic selling the only source of "real" wealth they have left - the family home - to keep afloat?
Could be a hectic few weeks ahead for listing agents!
No, we are different. Expect an announcement from Swanny of new "property price support mechanisms" though......can't have the market dictate prices after all?
PS you have been prolific lately AJ - winter hibernation over already??
I believe you said - "RIGHT THEN ........ now we are getting somewhere. This could be the catalyst that I have been talking about. JOBS JOBS JOBS. If this happens then I can easily see a quickening slide on the 8 capital city average home price due to foreclosures."
But then - "Where does that leave us on the property prices? Business as usual. Slowly does it."
What is your position exactly? Buying or selling?
So if one of your tenants loses their job and can't pay the rent, what are you going to do?? Let them stay there rent free?
As far as I know, none of the ASX200 shares have gone 'no bid' yet, which means anyone who wants to sell their shares, can. Can't say that for property.....
Well yes - I've been getting 6% at call, 'risk free' for over a year now.....
No, Robots is having a Latte and riding the trams. He's been a bit quiet since buying his last IP at the peak back in March last year
There will be a lot of carcasses for the bears to feast on - unfortunately they were right after all.....
Another reason why I will be going bye byes and leaving the ignoramus's to feast upon.
SELL THEM TO WHO ???? I don't see people breaking down the doors to get into the stock market. Quite the opposite in fact !
So you know this for a fact do you?? No wonder he does not post anymore.
100 BILLION or 7% WIPED OUT IN 72 HOURS WITH MORE TO COME compared to 2% OVER 12 MONTHS.
People have to LIVE somewhere and they will pay RENT ......... In this situation you may see business's shut their doors so commercial property is on the cards to fall in price as well. Can't wait so I can buy some more.
Seeya peoples ... Have fun.
cba just dropped rates on fixed home loans by 0.6%
on radio 2gb news just now...on 1-5 year fixed loans....
no rba drop last week, so cba taking control on rates.....
hohoho...the future of rates is down....not waiting for the rba to dither around, and over riding glen stevens bumbling nonsense
Last post peoples and then I am outta here.
Seeya peoples ... Have fun.
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