The future of Australian property prices

[satanoperca]

hello,

http://www.gmo.com/America/About/People/_Departments/BoardofDirectors.htm

there he is, and works at GMO who "manages" 107 billion of "clients money"

looks like Keen and Minick all over again,

thankyou
robots

Come on, your clutching at straws now.

Mr. Grantham co-founded GMO in 1977. He must be no good, only $107B of other peoples money he manages. They all must be stupid, when the can invest with the ASF Investor of many years.

He would have much wealth himself, expect him to be on the average salary.

Can see the comparison with Keen, Not.

Cheers

 

[trainspotter]

Bricks and mortar - safe as houses ! She'll be right mate.

Aussie banks have already started to change their approval criteria. Just wait until July 1st when NEW guidelines are in ! This will stop the bubble monster !

Big Brother banks watching our lives

MAKING big cash withdrawals, having a flutter at the TAB or getting pregnant could make you uncreditworthy under tough new lending laws.

The rules, to take effect on July 1, will allow banks and brokers to analyse all spending habits of borrowers, not just a person's income and fixed outgoings.

The aim is to uncover any potential financial strains such as a growing family, hidden debts or even gambling and drugs problems.

"Qualifying for a mortgage is not just a matter of assessing what debts you have anymore," Dean Rushton, CEO of broker Loan Market Group, said.

"If bank statements show there's a lot of money being spent at the casino or TAB, then that's obviously going to ring alarm bells.

"Giving credit to somebody after having seen they have a gambling habit could be a difficult position to defend under the new laws."

http://www.news.com.au/money/bankin...tching-our-lives/story-e6frfmcr-1225857910392

 

[Temjin]

hello,

http://www.gmo.com/America/About/People/_Departments/BoardofDirectors.htm

there he is, and works at GMO who "manages" 107 billion of "clients money"

looks like Keen and Minick all over again,

thankyou
robots

Ohh no no robots, I believe in you.

In all your wisdom, please specifically detail the "COMMONALITY" between Steven Keen and Jeremy Grantham.

At the same time, please tell me why Jeremy Grantham is so much more richer than you if you felt your level of investment knowledge/skill is no less than him.

*still having fun*


And back on topic a little bit, here is the link to his latest newsletter.

http://www.zerohedge.com/sites/default/files/JGLetter_ALL_1Q10.pdf

 

[satanoperca]

This would be credit tightening would it?

And with this today :

But National Australia Bank (NAB) said the broadly positive results should urge the Reserve Bank to lift its interest rate one per cent by the end of calendar 2010.

Going to be interesting year. All those FHBers who bought last year, I hope the investors start coming into the market even if the returns aren't the best as there cannot be to many FHBers who can pay current prices with rising IR's and reduce FHBG.

There is always the chance that aliens might replace all those overseas buyers.

Just have to wait and see.

Cheers

 

[robots]

Here it is again
REIV

hello,

i wonder if Jeremy from GMO has an equity graph like the above,

couldnt find any details on his website, oh well he knows best because has a video on the world wide web

thankyou
robots

 

[nunthewiser]

hello,

i wonder if Jeremy from GMO has an equity graph like the above,

couldnt find any details on his website, oh well he knows best because has a video on the world wide web

thankyou
robots

Well done on winning the ASF investor awards 6 years in a row bro. I do hope they recognise your achievement and give you back the "professor "title you so rightly deserve.

 

[MACCA350]

No need to sulk there Robots...........just stick your head back in the sand, repeat "sunshine and lollipops" until all is right with the world:

hehe, all in jest mate

cheers

 

[robots]

hello,

thanks Nun, bloody hard going to win 6yrs and i am striving for a seventh title

i might get the recognition then, what do others think?

tear up the neighbourhood man

thankyou
robots

 

[professor_frink]

Well done on winning the ASF investor awards 6 years in a row bro. I do hope they recognise your achievement and give you back the "professor "title you so rightly deserve.

nah won't happen, only a select few can call themselves a professor on ASF

 

[satanoperca]

This thread has once again gone to the crap house.

A man who founders a company that controls net investments of over $107B is being compared with someone who may own say a couple of IP's.

The chart that you are so proudly showing Robots clearly demonstrates that property acts and reacts like any other asset class and will and can have corrections when it gets overcooked.

The question is do you wish to invest at the top of the cycle and have to wait many years to see a return on your investment.

Get CSL was looking good last week, this week not so good.

The old question of when to enter and when to exits is trying to be explored.

Can please we keep it on track before this thread is once again closed down.

Cheers

 

[nunthewiser]

Deleted last post as pointing out Hypocrisy from posters is not usually constructive in a thread .

 

[Dowdy]

Can please we keep it on track before this thread is once again closed down.

Cheers

If it does get closed down it'll be due to one man's off topic jargon (coffee is great by the sunset, eating lollipops, chewing bubblegum and riding public transport etc etc etc) and what little info he does bring in, it's just the same chart and praising someone when they have an informative response.

 

[nunthewiser]

Please keep on topic Dowdy and Satan

 

[Dowdy]

Please keep on topic Dowdy and Satan

Don't worry, i know what's on topic and what's not. Some people I was pointing out don't

 

[nunthewiser]

Rental vacancy rate high

26th April 2010, 10:00 WST





Geraldton has more vacant residential rental properties than any other regional WA city, according to the Real Estate Institute of WA’s latest figures.

The first quarter 2010 data showed out of 12 regional centres, Geraldton- Greenough topped the table with a 5.2 per cent vacancy rate.

This was up one per cent on the last quarter of 2009.

Only Kalgoorlie-Boulder comes close with 4.6 per cent. Of the six centres that provided data on vacancies, only Geraldton-Greenough and Bunbury rose.

Local real estate agents said the reason for Geraldton-Greenough’s high rental vacancies are unclear.

Andrew Short of First National said he thought there were two reasons why vacancy rates have increased.

“The first-time home buyers’ grant took renters out of the market and ”” at the same time ”” new building and existing homes bought for investment in expectation of Oakajee and mining
opportunities,” he said.

“The next six months will see action go the other way. As projects get going, people will move into Geraldton and the market will tighten up.”

Alan Bourke, REIWA’s president said “the vacancy rate of available properties did increase from 4.2 per cent to 5.2 per cent, a trend that may see some downwards pressure on the
median rents if it continues.”

Rent levels here, for now, are stable with no change on the last quarter.

Karratha saw rents sore a heady 14.3 per cent while Port Headland plunged 17.2 per cent.

Busselton experienced a 7.1 per cent rise.

I own property in Geraldton WA , i have a very happy tenant that pays WELL below current market rental prices. They are happy, i am happy , they have been and are improving my property over the years they have been in the place .

The above article does not affect me but may affect the " new " investors to the city.

I really cannot whinge ,as like robots here we have both seen value in the past and now happy cruising along living large and still on the lookout for value which DOES appear if one is patient and if one is financially at the ready when the opportunities arise.

ok back to my latte.

 

[nunthewiser]

On the flip side i currently have a tenant in the Huon Valley tasmania .

She is not happy,she is being charged less than rental market value also.She pays the rent intermittantly and whinges about every damn thing known to man .

It is a step up from the previous tenant that did not pay rent for 3 months and also stole my Huon pine doors i had dotted throughout the house ( along with other damage).

I put up with the current tenant intermittant tendencies as the property is a free carry from the land that came with it and was subsequently subdivided and sold leaving me with a house and a prime riverfront block. ( seperate titles) and i would rather have someone in there paying eventually and not destroying the old place.

If it was a new investment and not bought for a song in the first place i would be rather worried about the situation.

 

[nunthewiser]

So.............. What does some guru,s opinion that has a video and manages other ppls money have to do with me ?

absolutely bugga all.

 

[kincella]

neighbour bought a unit in Toorak Mar 09, original condition, unrenovated since the 1960's for $400.ooo ks....another unit in the same block is on the market for 550 - 600 ks' now...we figure the reno's worth about 20k's...
neighbour is rather happy with her purchase

 

[trainspotter]

If it does get closed down it'll be due to one man's off topic jargon (coffee is great by the sunset, eating lollipops, chewing bubblegum and riding public transport etc etc etc) and what little info he does bring in, it's just the same chart and praising someone when they have an informative response.

But he hasn't been wrong ! Sunshine and lollipops man. Is it his particular style of contributing that goads people into the negative response? I personally find his contributions a positive force. He believes in the great Australian dream of everyone owning their own home, property prices are continuing to go up and he is defending his right to have this opinion !

Until the "Great Housing Bubble" happens (can't see it myself due to a number of reasons which I wont go into now as I have already posted previously only to be flamed) you will just have to put up with PROFESSOR robots and his positive vibe man. :bowdown: to the guru !

 

[Mofra]

MAKING big cash withdrawals, having a flutter at the TAB or getting pregnant could make you uncreditworthy under tough new lending laws.

How is this news? Many lenders have been doing it for years, and LMIs look at these issues as well when deciding to grant LMI to an applicant.

Our credit criteria has always been much more stringent than the US.