Now i get why you think the sky is falling down. 4% = crash total wipe out,and you guys call yourself realists. More like hanging on to every bit of bad news that supports your theory and extending its truth as far as you can confirmation biasists! all the best scm calls the exit how many of you realists made money on last nights pop? oh your still holding since $1950
. Even scm wont buy gold now....apparently its manipulated lol have fun with your money under your mattress.
Its funny when rpdata was reporting positive results it was rigged now its reporting negative results and they gooble it up hook line and sinker.
the rabbits out of hats over there. prepare to be astonised.....again!
the bottom is near may already be here (maybe not melbourne but it isnt the only place in oz dispite the focus of the bears) while the magician is waving his hand over there were pull the rabbits out of hats over there.
prepare to be astonised.....again!
The bottom you say?? What are you buying?
The only way I'd be astonished is if the Gov was to start up another home buying subsidy scheme to prop up property investors, again!
Sell now while you can - GFC part 2 is only months away, if not already started.....
Dow sp and asx are miles off there gfc lowes double dip recessions rearly if ever test them this is no different. News couldnt be worse the market doesnt give a f ck. everyone knows the possibilities all priced in macro is bs anyway. one last shake of the tree and where off.
. Even scm wont buy gold now....apparently its manipulated lol have fun with your money under your mattress.
Its funny when rpdata was reporting positive results it was rigged now its reporting negative results and they gooble it up hook line and sinker.
Its still a rigged Template -
Its now impossible to hide that things are falling - its just the depth of the falls that are smudged now -
Home values fell the most in at least six years in May defying Reserve Bank efforts to spark a recovery in the nation's lacklustre housing market with interest rate cuts. Melbourne led declines.
Read more: http://www.smh.com.au/business/home-prices-extend-national-retreat-20120601-1zlm6.html#ixzz1wbaSIjqz
My uncle works for one of the medium to large size real estate agents. So I hear from him what's going on. The fact/truth is the market isn't flat like they're reporting, it's actually down. They have enormous internal pressure from the top to sell, sell, sell and have a high stock (+50% more since 3 years ago) People are quitting, burning out. All the perks have dried up, and a lot are leaving the industry. This is in Melbourne, though. Not sure about everywhere else. There are still booms in Perth/mining towns. He also said that the word they're all throwing around is "confidence" .. if they can restore confidence, prices will stabilize. So maybe they can but they are very fearful that market sentiment has already gone from bullish to bearish. I'd say it's still borderline but it's going to get bearish eventually, given all the defaulting dominoes at play.
And if anyone is skeptical about the figures and graphs they post online and in the newspapers, you'd be right. The sales and marketing division have internal meetings on how to best dress up bad numbers and present them in a positive light. It's not illegal, however, I would say It is unethical!! E.g- skewing graphs, posting figures and then "revising them down" in small print the following month. I have also heard about claims where they have banks going to auctions and buying homes at auctions that may end up otherwise being passed in. I'm pretty sure that's illegal. But how can you regulate it, really. I am sure you will see someone get caught doing it soon though. One of them is about to be audited, so it will be interesting, keep watching the headlines
If you think for yourself you should be fine. The sky isn't falling, but house prices are.
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Alot gets said about the poor yeilds of re when comparing to other investments (ie cash etc) . Comparing yeilds of re to whatever is as naive as ranking companies by there pe ratio. With the lower prices increasing yeild and lower holding cost (we arnt far off rents being more than owning) through interest rates coupled with the fact that most of the vultures are on the sidelines waiting to pounce everyone is bearish as f ck. the bottom is near may already be here (maybe not melbourne but it isnt the only place in oz dispite the focus of the bears) while the magician is waving his hand over there were pull the rabbits out of hats over there. prepare to be astonised.....again!
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