Australian (ASX) Stock Market Forum

You know OZ is nuts when for or $200K.....

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wayneL said:
....you can buy this sh!thole in the warzone areas of Geraldton WA:

http://www.royweston.com.au/content...0&fa_range=&min_farange=&max_farange=&oid=171

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..... or you can buy these in the evil empire

http://www.har.com/search/engine/indexdetail.cfm?mlnum=9564413&class=1&leadid=6&sTYPE=0&backButton=Y

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http://www.har.com/search/engine/indexdetail.cfm?mlnum=8167275&class=1&leadid=6&sTYPE=0&backButton=Y

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http://albany.georgia.remax.com/listings/ListingDetail_r4.aspx?LID=25349545#aTop

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http://saugatuckdouglas.michigan.remax.com/listings/ListingDetail_r4.aspx?LID=24581981#aTop

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With everyone owning a GUN...not a place for me..got a friend who went to USA...came back in a hurry said that its to easy to get shot...I rather pay the high price and be reasonable safe..USA not for me
 

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Stop_the_clock said:
Yes I heard that too, some of our property is the most expensive in the world accoridng to price comparions in other OECD countries.
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According to a recent study by Demographia, even Adelaide and Hobart are more expensive than most US cities after adjusting for wages.

Fair enough for Sydney maybe, but Adelaide and Hobart? Australian property is way overpriced and this will at some point end in my opinion. :2twocents
 
chicken said:
With everyone owning a GUN...not a place for me..got a friend who went to USA...came back in a hurry said that its to easy to get shot...I rather pay the high price and be reasonable safe..USA not for me
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living in Rangeway, you'll wish you did own a gun. :eek:
 
juddy said:
living in Rangeway, you'll wish you did own a gun. :eek:
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Juddy knows ;)

Folks,

I am not advocating we all up stumps and move to the US. We already do live in a sycophantic proxy of the place... just without the guns.

I am just questioning... WHY THE XXXX IS OUR R/E SO EXPENSIVE?
 
professor_frink said:
Here's a lovely one in my area you can pick up for $925,000.

Not overpriced at all :eek:
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Look at the filth, almost 1 million dollars and they call that value, the only value I see in it, is the flappy lips of a real estate agent trying to off-load it!

ITS CRIMINAL TO EXPECT PEOPLE TO PAY THESE FILTHY PRICES!
 
wayneL said:
Juddy knows ;)

Folks,

I am not advocating we all up stumps and move to the US. We already do live in a sycophantic proxy of the place... just without the guns.

I am just questioning... WHY THE XXXX IS OUR R/E SO EXPENSIVE?
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I was on holiday in Aus a couple of weeks ago at Ninderry,Sunshine coast, 10 mins from the Beach in land.A short drive to Noosa.We looked at some land they were selling off,no covenants,all roads laid, power etc. beautiful views of the bush on 2 acres.$180K.

My point is you wouldn't get that in New Zealand for twice the price.I have friends in Sydney and they say prices are ridiculous there, but have you seen the prices for anywhere nice in Auckland ?

You are not alone with real estate prices being out of reach of the average wage earner.
 
The only reason home ownership seems unattainable to some is because they expect too much. They expect to start work late into their 20s have holidays, usually overseas, buy a car better than they need (probably on hire purchase), and then expect to walk into a better home than the one their parents worked most of their life for. The world doesn't owe you a living and a fancy home you have to earn it for yourself.
 
On the USA and guns.

Like I said, I grew up there and have family there.

If you have to live in low socioeconomic areas. It is a huge problem. For the middle class, hardly anyone ever comes across the problem. My rellies in the states don't own guns and have only ever even seen them in gun stores and on coppers hips. It is a non issue for them.

The USA is a hugely segregated society based on money and/or race. You just gotta be on the right side of the track.

I'm not defending the place. I think the US stinks. Just telling how it is.

Cheers
 
nioka said:
The world doesn't owe you a living and a fancy home you have to earn it for yourself.
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Valid comment nioka. But 200k for a stinking hellhole in a country ghetto? WTF?

These places were $40k only 4 years ago.
 
We live in a world where people have one bananas.

Can't understand why people still choose to invest in residential property with such poor rental yields in some areas.

The only things I can think of is fear of missing out, or they are so caught up in the trend that they think prices will continue to rise like they have the last 10 years.
 
wayneL said:
Valid comment nioka. But 200k for a stinking hellhole in a country ghetto? WTF?

These places were $40k only 4 years ago.
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I built my first 2 homes brick by brick in my spare time. No power tools or ready mix concrete either. Anything is possible in this world, you just have to want it bad enough.
 
wayneL said:
Valid comment nioka. But 200k for a stinking hellhole in a country ghetto? WTF?

These places were $40k only 4 years ago.
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Spot on...even the crusty cream brick units of yester-year (60's/70's)are pricing people out of the market, and that is at the lowest end of the affordable range.
 
nioka said:
I built my first 2 homes brick by brick in my spare time. No power tools or ready mix concrete either. Anything is possible in this world, you just have to want it bad enough.
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Kudos. I sweated blood for my first property too.

But you are missing the point.
 
Stop_the_clock said:
Spot on...even the crusty cream brick units of yester-year (60's/70's)are pricing people out of the market, and that is at the lowest end of the affordable range.
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Law of supply and demand. It is the same law that is enabling you to trade, and make a profit hopefully, on the good old ASX. If you want to change one you would have to change the other.
 
nioka said:
Law of supply and demand. It is the same law that is enabling you to trade, and make a profit hopefully, on the good old ASX. If you want to change one you would have to change the other.
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Agree! There are lots of reasons to expect this sort of scenario then\/
 

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Why is it so expensive in London?

I often drive around all these "unaffordable areas" in Australia and what do I see? If these areas are in fact "unaffordable", then all these houses should be empty. But no, they have people in them! Someone can afford to live in these unaffordable areas. Hence it's only unaffordable for people who can't afford it. So why can so few people afford to live in unaffordable areas? Surely it comes down to supply and demand.

Forget about comparing the paint job of various houses, that's the last thing that determines the price of a house. It's all about land, and where that land is. Why is it that if I drive closer and closer to the city, a similar house to the one I live in will get more expensive the further I go?

At any one point in time, all of the real estate is owned by somebody. Real estate is always affordable for somebody. Back in the 60's and 70's there weren't 20 million people in Aus looking for a place to live. As the population increases, house prices will increase. Look at London, try comparing the real estate over there to Australia's prices. Maybe we should be complaining about that instead. And real estate should not be compared to the sharemarket. People put money into the market to make money, but people put money into real estate for somewhere to live. Different prioritories, different emotions.

I always remember someone saying that if you think real estate is expensive now, try waiting 10 years.
 
Re: Why is it so expensive in London?

At any one point in time, all of the real estate is owned by somebody. Real estate is always affordable for somebody. Back in the 60's and 70's there weren't 20 million people in Aus looking for a place to live. As the population increases, house prices will increase.
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I understand the point, it's logical. But what happened in for example Japan since 1990. Here you have a country with a 125,000,000 population, bugger all land, and the average price of land has fallen over 80% since then. Why??

Historically most credit induced bubbles end up in bust. Determining when the bust ends up coming is the hard thing.
 
hello,

aus has just caught up with the global economy and you are dreaming if you think it is going to go bust

but hey, keep up the fear and get those put option premiums increasing

others have mentioned, everybody wants everything today, and those who cant have probably can have if they change things

thankyou
robots
 
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