This guys prophecy of impending doom in the real estate market has got me wondering what actually happens to existing mortgages if suddenly house prices crash by say 30%.

Will the banks be able to suddenly demand large increases in mortgage repayments as i think happened in America resulting in lots of forclosures?

This is very likely I think as I think most new home buyers are borrowing far too much relative to their ability to repay!

Nightmare vision of impending property crash

American economist and demographer Harry S Dent jnr says there is a bubble in Australian house prices and we should brace ourselves for a spectacular collapse starting this year.

Dent is in Australia to speak at seminars and to promote his book, “The Demographic Cliff”. He says that house prices are unsustainable and will fall by at least 27 per cent in Sydney and Melbourne over the next several years.

    Your real estate is so high it has to come down.

Dent told Money in a video interview that the trigger for the collapse of Australia's house price bubble will be the bursting of the Chinese house bubble.

How high can property go?

Dent says Sydney and Melbourne property markets are being held up by foreign buyers and that cannot last forever.

“China has a bubble [in house prices] that makes Australia's look like nothing,” he says.

“I think China's bubble is going to burst and I cannot see any way that Australian property prices can keep going up," he says.

If his forecasts do not come true it will be because governments “wave the magic wand and kick the can down the road again”.

The Reserve Bank of Australia and most Australian economists say there is no bubble in Australian house prices. But Dent is sticking to his guns.

“Nobody in real estate development or government can afford to say that 'we have got a bubble',” he says. “They will always say it is not a bubble”.

But what of our special factors - we are a very large country with a unique economy and most of the population concentrated in a few conurbations - don't they count against the general rules for bubbles and their ending. Dent says he has studied every bubble in history and every time a bubble comes whether it is in tulip bulbs, gold, stocks or housing they are always described by those on the inside as being different, and unlikely to burst.

“I am saying that China has the biggest [bubble] and that is going to trigger [the bursting of] your bubble. Your real estate is so high it has to come down in the next few years."

Read more: http://www.theage.com.au/money/investing/nightmare-vision-of-impending--property-crash-20140213-32kl2.html#ixzz2tKqUO3JW

well China has just doubled its population... they are now allowed to have two children....so can you see the future sinking down for CHina??.. Im blowed if I can..

cods wrote on Feb 15^th, 2014 at 9:05am:

well China has just doubled its population...

:D :D :D :D

China's population is actually on the decrease, but lets not let facts get in the way of a good story  ;D ;D ;D

Redmond Neck wrote on Feb 15^th, 2014 at 8:02am:

This guys prophecy of impending doom in the real estate market has got me wondering what actually happens to existing mortgages if suddenly house prices crash by say 30%.

In most cases Lenders Mortgage insurance pays for any shortfall between the mortgagee sale price & the amount of the home loan.

Redmond Neck wrote on Feb 15^th, 2014 at 8:02am:

This guys prophecy of impending doom in the real estate market has got me wondering what actually happens to existing mortgages if suddenly house prices crash by say 30%. Will the banks be able to suddenly demand large increases in mortgage repayments as i think happened in America resulting in lots of forclosures? This is very likely I think as I think most new home buyers are borrowing far too much relative to their ability to repay!

Remember the sinking of the Titanic ? After it struck the ice berg it took ages for it to sink but as it took on more water the rate at which it sank grew until it took on so much water that it sank in a matter of minutes !! There was no stopping it !!

Now replace the titanic with the property sector and water  with debt and you get some idea of what happens in a crash. What the iceberg will be is anyone's guess but I'm already putting my money on the rise of unemployment as the trigger whereas Harry Bent said that it will be the collapse of chinas real estate market. Fun times ahead :(

Looks like Steve Keen was right way back in 2007 except that governments kept hatching up hare brain schemes to kick the can down the road again :( What will be the next hare brained idea ?

in the worst recession this country has ever had prices didnt crash.

Sir lastnail wrote on Feb 15^th, 2014 at 11:03am:

Remember the sinking of the Titanic

you want to compare the property market to the titanic?  ;D ;D ;D

desperate nail, desperate

John Smith wrote on Feb 15^th, 2014 at 11:21am:

Sir lastnail wrote on Feb 15th, 2014 at 11:03am: Remember the sinking of the Titanic you want to compare the property market to the titanic?  ;D ;D ;D desperate nail, desperate

Some of comments on here seem to show a total lack of understanding..,Or maybe they are renters and never brought a house.   >:( >:( >:(

teddybear wrote on Feb 15^th, 2014 at 11:41am:

John Smith wrote on Feb 15th, 2014 at 11:21am: Sir lastnail wrote on Feb 15th, 2014 at 11:03am: Remember the sinking of the Titanic you want to compare the property market to the titanic?  ;D ;D ;D desperate nail, desperate Some of comments on here seem to show a total lack of understanding..,Or maybe they are renters and never brought a house.   >:( >:( >:(

Here we go again. The old "this time it's different" line is wheeled out once again. Like the dude said.


Quote:

But what of our special factors - we are a very large country with a unique economy and most of the population concentrated in a few conurbations - don't they count against the general rules for bubbles and their ending. Dent says he has studied every bubble in history and every time a bubble comes whether it is in tulip bulbs, gold, stocks or housing they are always described by those on the inside as being different, and unlikely to burst. “I am saying that China has the biggest [bubble] and that is going to trigger [the bursting of] your bubble. Your real estate is so high it has to come down in the next few years."

Redmond Neck wrote on Feb 15^th, 2014 at 8:02am:

[b][color=#0000ff]This guys prophecy of impending doom in the real estate market has got me wondering what actually happens to existing mortgages if suddenly house prices crash by say 30%. Will the banks be able to suddenly demand large increases in mortgage repayments as i think happened in America resulting in lots of forclosures?

Well they are the total idiots I believe them to be if they do - since neither they nor anyone else will be able to recoup the capital expenditure put out for those houses at the beginning, and many bankruptcies will occur which will leave the country desolate.

(On KRUD News tonight - our finance reporter Johnny Cashta Singhe reports on the collapse of the market.. live from Point Piper....)

"What am I bid for this Mortgagee auction waterfront in Point Piper?  come on, bidders - the reserve is low at $19.3 million - I'll take a bid of $1m!  One millyun anyone".....

No takers.. no money in the market... the doors are closed for investment property hoarders now - can't sustain them when they operated on the principle that if they ever got  into trouble they could sell off a property to bail out..... now all their properties combined won't bail them out...

The future looks grim for the Australian property market with the collapse of China's economy in a welter of social imbalances caused by Chinese Industrial Man having ripped the bowels out of the economy and causing the bankruptcy of the farmers and producers through low farm produce prices, imported cheap Third World Australian canned fruit, and rising costs of living due to massive pay rises for industrial workers.

With the Second Red Guards Cultural Revolt roaming the streets by day and night, and the government firmly back in the hands of populist Trotskyite Communists intent on hunting down capitalist fascist running dogs of the past, and Indian billionaires burnt on pyres to compensate for the impoverishment of their own people under the new Radical India Party, we anticipate the market will continue to decline with prices for luxury villas on the waterfront falling to as low as $50k.

Meanwhile on a brighter note, President Grappler's Reform Australia Party has made a public announcement that a culling of bank managers, politicians, CEOs and public servants above a certain level will be undertaken, as they are sent out to the rice fields from Day Zero to see what a real job is all about, tilling rice by hand under a long-term unemployed previously overseer or single mother."

Sir lastnail wrote on Feb 15^th, 2014 at 12:33pm:

Here we go again. The old "this time it's different" line is wheeled out once again. Like the dude said.

who said anything about different? Australia never had a property bubble burst and for good reason ... nothing has changed, it's not different ,and that is exactly why we won't have any imaginary bubble bursting

John Smith wrote on Feb 15^th, 2014 at 1:12pm:

Sir lastnail wrote on Feb 15th, 2014 at 12:33pm: Here we go again. The old "this time it's different" line is wheeled out once again. Like the dude said. who said anything about different? Australia never had a property bubble burst and for good reason ... nothing has changed, it's not different ,and that is exactly why we won't have any imaginary bubble bursting

and there is no property bubble because the banks say so :D LOL

Sir lastnail wrote on Feb 15^th, 2014 at 1:20pm:

John Smith wrote on Feb 15th, 2014 at 1:12pm: Sir lastnail wrote on Feb 15th, 2014 at 12:33pm: Here we go again. The old "this time it's different" line is wheeled out once again. Like the dude said. who said anything about different? Australia never had a property bubble burst and for good reason ... nothing has changed, it's not different ,and that is exactly why we won't have any imaginary bubble bursting and there is no property bubble because the banks say so :D LOL

Or because some wanker on some stupid forum say's so

;) ;) ;)

Quote:

Will the banks be able to suddenly demand large increases in mortgage repayments as i think happened in America resulting in lots of forclosures?

If there is a serious diminution of value in the property secured (that is, the one over which the Bank holds the mortgage) below that of the amount of the loan (and even in other circumstances) notwithstanding that you are up to date with your payments, the Bank has the right to call in all of the debt for immediate payment.

(Well, that's how it used to be 'in the day,' but I don't reckon much has changed.)

teddybear wrote on Feb 15^th, 2014 at 1:26pm:

Sir lastnail wrote on Feb 15th, 2014 at 1:20pm: John Smith wrote on Feb 15th, 2014 at 1:12pm: Sir lastnail wrote on Feb 15th, 2014 at 12:33pm: Here we go again. The old "this time it's different" line is wheeled out once again. Like the dude said. who said anything about different? Australia never had a property bubble burst and for good reason ... nothing has changed, it's not different ,and that is exactly why we won't have any imaginary bubble bursting and there is no property bubble because the banks say so :D LOL Or because some wanker on some stupid forum say's so ;) ;) ;)

and there can never be a property bubble in Australia. That only ever happens in other countries :D LOL

Australia is in a trap of its own making. Interest rates are low and can't be increased because that will encourage capital inflow and rise in A$.

The bubble will become a boil and in the future people will consider 40 year mortgages an anachronism as they sign for 100 year mortgages.

Sir lastnail wrote on Feb 15^th, 2014 at 1:20pm:

John Smith wrote on Feb 15th, 2014 at 1:12pm: Sir lastnail wrote on Feb 15th, 2014 at 12:33pm: Here we go again. The old "this time it's different" line is wheeled out once again. Like the dude said. who said anything about different? Australia never had a property bubble burst and for good reason ... nothing has changed, it's not different ,and that is exactly why we won't have any imaginary bubble bursting and there is no property bubble because the banks say so :D LOL

and there is a property bubble because some yank who has so far gotten all his predictions wrong says so?

many blessings ,

there is no real estate

it is an illusion for you will never own any real estate

landless peasants ...

you will pay an annual duty or rates ...

if you do not pay these rates your house

will be taken from you

and as such you never own the real estate

so in fact , and consequently it is false estate

it is not real at all ..

many dupes believe it real and try to convince you

while you pay your rates , forever

yet the love within your heart is real

and so it is

in divine light

namaste

- : ) =

ॐ

Redmond Neck wrote on Feb 15^th, 2014 at 8:02am:

This guys prophecy of impending doom in the real estate market has got me wondering what actually happens to existing mortgages if suddenly house prices crash by say 30%. Will the banks be able to suddenly demand large increases in mortgage repayments as i think happened in America resulting in lots of forclosures? This is very likely I think as I think most new home buyers are borrowing far too much relative to their ability to repay!

Actually if there is a property bust interest rates will nosedive and banks will be asking for less in repayments, in the US they ended up with almost zero interest rates but if you are tapped out to the max and property prices tank this could mean you owe the bank a hell of a lot more on your loan than the property is worth.

This isn't a problem if you are able to stay put but if you want to sell for whatever reason then you are screwed and bankruptcy would be the smartest course of action.

If you have to sell during a bust cycle then you will lose, if you are in for the long haul then you should be OK no matter what happens as prices eventually will rebound ... as long as you are not finally at the end of the great capitalistic pyramid scheme that is   ;)

John Smith wrote on Feb 15^th, 2014 at 4:27pm:

Sir lastnail wrote on Feb 15th, 2014 at 1:20pm: John Smith wrote on Feb 15th, 2014 at 1:12pm: Sir lastnail wrote on Feb 15th, 2014 at 12:33pm: Here we go again. The old "this time it's different" line is wheeled out once again. Like the dude said. who said anything about different? Australia never had a property bubble burst and for good reason ... nothing has changed, it's not different ,and that is exactly why we won't have any imaginary bubble bursting and there is no property bubble because the banks say so :D LOL and there is a property bubble because some yank who has so far gotten all his predictions wrong says so?

Harry Dent, a widely respected economist and demographer who has predicted a range of economic events including the 2008 global financial crisis,


Can't give the link but it seems he is one of very few that saw that 2008 event coming. If I remember correctly, the Australian economist Steve Keen was another and he has also predicted the coming real estate crash.

They could be right.

John Smith wrote on Feb 15^th, 2014 at 9:44am:

cods wrote on Feb 15th, 2014 at 9:05am: well China has just doubled its population... :D :D :D :D China's population is actually on the decrease, but lets not let facts get in the way of a good story  ;D ;D ;D

I can't believe cods just said that,... BUT, that graph of Chinas population will make interesting reading from here on in and I dare say the 21st century will be looking at it in many an analysis!

Quote:

Actually if there is a property bust interest rates will nosedive and banks will be asking for less in repayments,

No, unless you have signed up to 'variable' (as opposed to an agreed interest rate) the payments remain the same.


Quote:

in the US they ended up with almost zero interest rates but if you are tapped out to the max and property prices tank this could mean you owe the bank a hell of a lot more on your loan than the property is worth.

Correct, and that is when they call in the whole loan for payment, which many could not do.....and foreclosure ensues.

I have a niece in law over in the US and her experience makes the point.  She was unemployed, no regular income.......a Bank gave her a loan to buy, and she did.......the GFC..............she was told to pay up...........zero chance of that.  The Bank took possession, sold at a loss.............she walks.  Zero point making her bankrupt.  Nothing to gain.


Quote:

If you have to sell during a bust cycle then you will lose, if you are in for the long haul then you should be OK no matter what happens as prices eventually will rebound ... as long as you are not finally at the end of the great capitalistic pyramid scheme that is

.....and you have ignored what the Banks can do if the value of the property reduces below the amount of the loan.

ian wrote on Feb 15^th, 2014 at 11:20am:

in the worst recession this country has ever had prices didnt crash.

Global economy says what??????????????????????????????????????

it_is_the_light wrote on Feb 15^th, 2014 at 4:28pm:

many blessings , there is no real estate it is an illusion for you will never own any real estate landless peasants ... you will pay an annual duty or rates ... if you do not pay these rates your house will be taken from you and as such you never own the real estate so in fact , and consequently it is false estate it is not real at all .. many dupes believe it real and try to convince you while you pay your rates , forever yet the love within your heart is real and so it is in divine light namaste - : ) = ॐ

just to add to that you only really have land rights over your land to about 1 meter in depth. Below that the government has the ownership allowing a mining company to stake its claim :(

Sir lastnail wrote on Feb 15^th, 2014 at 9:45pm:

it_is_the_light wrote on Feb 15th, 2014 at 4:28pm: many blessings , there is no real estate it is an illusion for you will never own any real estate landless peasants ... you will pay an annual duty or rates ... if you do not pay these rates your house will be taken from you and as such you never own the real estate so in fact , and consequently it is false estate it is not real at all .. many dupes believe it real and try to convince you while you pay your rates , forever yet the love within your heart is real and so it is in divine light namaste - : ) = ॐ just to add to that you only really have land rights over your land to about 1 meter in depth. Below that the government has the ownership allowing a mining company to stake its claim :(

that sort of twisted logic also means you have also never own cars, motorbikes, boats or anything else you pay an annual fee to use  :D :D :D :D :D

John Smith wrote on Feb 15^th, 2014 at 10:15pm:

Sir lastnail wrote on Feb 15th, 2014 at 9:45pm: it_is_the_light wrote on Feb 15th, 2014 at 4:28pm: many blessings , there is no real estate it is an illusion for you will never own any real estate landless peasants ... you will pay an annual duty or rates ... if you do not pay these rates your house will be taken from you and as such you never own the real estate so in fact , and consequently it is false estate it is not real at all .. many dupes believe it real and try to convince you while you pay your rates , forever yet the love within your heart is real and so it is in divine light namaste - : ) = ॐ just to add to that you only really have land rights over your land to about 1 meter in depth. Below that the government has the ownership allowing a mining company to stake its claim :( that sort of twisted logic also means you have also never own cars, motorbikes, boats or anything else you pay an annual fee to use  :D :D :D :D :D

the government doesn't give a sh.t about your ownership of consumables. What is important is the usage and not the ownership for which you are legally obliged to pay.

and light is correct. Try and not pay your rates for a few years and see how long you own your house ;)

Hi Nail,
I don't trust him:

---

Redmond Neck wrote on Feb 15^th, 2014 at 8:02am:

This guys prophecy of impending doom in the real estate market has got me wondering what actually happens to existing mortgages if suddenly house prices crash by say 30%. Will the banks be able to suddenly demand large increases in mortgage repayments as i think happened in America resulting in lots of forclosures? This is very likely I think as I think most new home buyers are borrowing far too much relative to their ability to repay! Nightmare vision of impending property crash American economist and demographer Harry S Dent jnr says there is a bubble in Australian house prices and we should brace ourselves for a spectacular collapse starting this year. Dent is in Australia to speak at seminars and to promote his book, “The Demographic Cliff”. He says that house prices are unsustainable and will fall by at least 27 per cent in Sydney and Melbourne over the next several years.     Your real estate is so high it has to come down. Dent told Money in a video interview that the trigger for the collapse of Australia's house price bubble will be the bursting of the Chinese house bubble. How high can property go? Dent says Sydney and Melbourne property markets are being held up by foreign buyers and that cannot last forever. “China has a bubble [in house prices] that makes Australia's look like nothing,” he says. “I think China's bubble is going to burst and I cannot see any way that Australian property prices can keep going up," he says. If his forecasts do not come true it will be because governments “wave the magic wand and kick the can down the road again”. The Reserve Bank of Australia and most Australian economists say there is no bubble in Australian house prices. But Dent is sticking to his guns. “Nobody in real estate development or government can afford to say that 'we have got a bubble',” he says. “They will always say it is not a bubble”. But what of our special factors - we are a very large country with a unique economy and most of the population concentrated in a few conurbations - don't they count against the general rules for bubbles and their ending. Dent says he has studied every bubble in history and every time a bubble comes whether it is in tulip bulbs, gold, stocks or housing they are always described by those on the inside as being different, and unlikely to burst. “I am saying that China has the biggest [bubble] and that is going to trigger [the bursting of] your bubble. Your real estate is so high it has to come down in the next few years." Read more: http://www.theage.com.au/money/investing/nightmare-vision-of-impending--property-crash-20140213-32kl2.html#ixzz2tKqUO3JW

Friend, whether they do or not, a Big Reckoning is coming, from the sounds of it from them fancy experts and such with degrees. Here's what I have heard around the cafe chit chat and what I make of it all. Boomers are doing fine, although I aint a boomer, being older and such, and we've done well too friend, and I bought my first house here decades ago for less than the cost of a European Car, and exchanged it over the years to my fine apartment here in the CBD of Brisbane Town which is now worth near one million dollars friend, so I believe it's been good. Must be the largest bubble in history though. Prices here have gone up 1200% over the last 30 years or such.

Billy Jack wrote on Feb 16^th, 2014 at 11:47am:

Redmond Neck wrote on Feb 15th, 2014 at 8:02am: This guys prophecy of impending doom in the real estate market has got me wondering what actually happens to existing mortgages if suddenly house prices crash by say 30%. Will the banks be able to suddenly demand large increases in mortgage repayments as i think happened in America resulting in lots of forclosures? This is very likely I think as I think most new home buyers are borrowing far too much relative to their ability to repay! Nightmare vision of impending property crash American economist and demographer Harry S Dent jnr says there is a bubble in Australian house prices and we should brace ourselves for a spectacular collapse starting this year. Dent is in Australia to speak at seminars and to promote his book, “The Demographic Cliff”. He says that house prices are unsustainable and will fall by at least 27 per cent in Sydney and Melbourne over the next several years.     Your real estate is so high it has to come down. Dent told Money in a video interview that the trigger for the collapse of Australia's house price bubble will be the bursting of the Chinese house bubble. How high can property go? Dent says Sydney and Melbourne property markets are being held up by foreign buyers and that cannot last forever. “China has a bubble [in house prices] that makes Australia's look like nothing,” he says. “I think China's bubble is going to burst and I cannot see any way that Australian property prices can keep going up," he says. If his forecasts do not come true it will be because governments “wave the magic wand and kick the can down the road again”. The Reserve Bank of Australia and most Australian economists say there is no bubble in Australian house prices. But Dent is sticking to his guns. “Nobody in real estate development or government can afford to say that 'we have got a bubble',” he says. “They will always say it is not a bubble”. But what of our special factors - we are a very large country with a unique economy and most of the population concentrated in a few conurbations - don't they count against the general rules for bubbles and their ending. Dent says he has studied every bubble in history and every time a bubble comes whether it is in tulip bulbs, gold, stocks or housing they are always described by those on the inside as being different, and unlikely to burst. “I am saying that China has the biggest [bubble] and that is going to trigger [the bursting of] your bubble. Your real estate is so high it has to come down in the next few years." Read more: http://www.theage.com.au/money/investing/nightmare-vision-of-impending--property-crash-20140213-32kl2.html#ixzz2tKqUO3JW Friend, whether they do or not, a Big Reckoning is coming, from the sounds of it from them fancy experts and such with degrees. Here's what I have heard around the cafe chit chat and what I make of it all. Boomers are doing fine, although I aint a boomer, being older and such, and we've done well too friend, and I bought my first house here decades ago for less than the cost of a European Car, and exchanged it over the years to my fine apartment here in the CBD of Brisbane Town which is now worth near one million dollars friend, so I believe it's been good. Must be the largest bubble in history though. Prices here have gone up 1200% over the last 30 years or such.

and so has the debt my friend. You need a constant growth rate in debt to fuel the bubble but who's paying it off including interest ?

---

The rising prices of real estate is unsustainable in Australia and in particular Sydney.

I predict a U.S. style of the Ma and Pa Housing crash. The prices of Sydney real estate are unrealistic and when the crash comes, and it will...the fallout will be nuke like.

The real estate prices in no way reflect the income capacity of the every day citizen.


Brother put your crash helmets on because this will be monumental, when this 'pyramid' comes crashing down. I call it a pyramid and an upside down one and that structure is starting to lean big time.

A couple of differences between Oz and the US, we still have housing demand, not sure the statistics now but only a short while ago vacancy statistics in most states were as low (in the ACT for eg) as 1%.  In comparison for eg in Detroit there are something like 47000 vacant houses. 

Also, a big difference is that in the US a homeowner merely needs to hand over the keys to the bank to get out from under a negative equity without any residual debt, in Oz that is not possible and the banks will sell your property and still hound you for the difference.  No get out of debt for free deals. 

Datalife wrote on Feb 16^th, 2014 at 2:57pm:

A couple of differences between Oz and the US, we still have housing demand, not sure the statistics now but only a short while ago vacancy statistics in most states were as low (in the ACT for eg) as 1%.  In comparison for eg in Detroit there are something like 47000 vacant houses.  Also, a big difference is that in the US a homeowner merely needs to hand over the keys to the bank to get out from under a negative equity without any residual debt, in Oz that is not possible and the banks will sell your property and still hound you for the difference.  No get out of debt for free deals.

In modern society with purported labour mobility as an objective, a house is a millstone around the worker's neck. Better to rent and find a new rental when one moves.

This is also supported by the theory of economic rationalism where a person should seek the best reward for his services. Unfortunately most punters don't like moving.

Two schools of thought on that one, Laugh till you Cry. Rents in Sydney are going ballistic.

If you can get into a mortgage, then some years down the track, you will be far better off than the renter, who sees their rent getting higher, higher and higher...I've been around a long time and I think your argument has as many holes in it as Swiss Cheese. :D

Laugh till you cry wrote on Feb 16^th, 2014 at 3:30pm:

In modern society with purported labour mobility as an objective, a house is a millstone around the worker's neck. Better to rent and find a new rental when one moves.

If it suits you fine, I prefer to own.  Plus ownership has given me a lot of flexibility, I had a place in the city when I was working, sold it and got a place in the country where I retired and have no debt at all. 

Enjoy your landlord inspections, another benefit no doubt. 

Datalife wrote on Feb 16^th, 2014 at 4:05pm:

Laugh till you cry wrote on Feb 16th, 2014 at 3:30pm:   In modern society with purported labour mobility as an objective, a house is a millstone around the worker's neck. Better to rent and find a new rental when one moves. If it suits you fine, I prefer to own.  Plus ownership has given me a lot of flexibility, I had a place in the city when I was working, sold it and got a place in the country where I retired and have no debt at all.  Enjoy your landlord inspections, another benefit no doubt.

Exactly exemplifies labour mobility. You left the labour market and your house.

Some people don't want to give up city life because there are more resources and facilties.

Sir lastnail wrote on Feb 15^th, 2014 at 10:45pm:

John Smith wrote on Feb 15th, 2014 at 10:15pm: Sir lastnail wrote on Feb 15th, 2014 at 9:45pm: it_is_the_light wrote on Feb 15th, 2014 at 4:28pm: many blessings , there is no real estate it is an illusion for you will never own any real estate landless peasants ... you will pay an annual duty or rates ... if you do not pay these rates your house will be taken from you and as such you never own the real estate so in fact , and consequently it is false estate it is not real at all .. many dupes believe it real and try to convince you while you pay your rates , forever yet the love within your heart is real and so it is in divine light namaste - : ) = ॐ just to add to that you only really have land rights over your land to about 1 meter in depth. Below that the government has the ownership allowing a mining company to stake its claim :( that sort of twisted logic also means you have also never own cars, motorbikes, boats or anything else you pay an annual fee to use  :D :D :D :D :D the government doesn't give a sh.t about your ownership of consumables. What is important is the usage and not the ownership for which you are legally obliged to pay. and light is correct. Try and not pay your rates for a few years and see how long you own your house ;)

o light is wrong ... I own my house, the rates are simply a service fee that comes with owning a house, much like owning a car means you pay rego.

Laugh till you cry wrote on Feb 16^th, 2014 at 3:30pm:

Datalife wrote on Feb 16th, 2014 at 2:57pm: A couple of differences between Oz and the US, we still have housing demand, not sure the statistics now but only a short while ago vacancy statistics in most states were as low (in the ACT for eg) as 1%.  In comparison for eg in Detroit there are something like 47000 vacant houses.  Also, a big difference is that in the US a homeowner merely needs to hand over the keys to the bank to get out from under a negative equity without any residual debt, in Oz that is not possible and the banks will sell your property and still hound you for the difference.  No get out of debt for free deals.  In modern society with purported labour mobility as an objective, a house is a millstone around the worker's neck. Better to rent and find a new rental when one moves. This is also supported by the theory of economic rationalism where a person should seek the best reward for his services. Unfortunately most punters don't like moving.

you think so laugh? I've got a tenant who in the last 15yrs paid in excess of $180 000 rent for the premises she lives in ... if she had bought it when she moved in, she would have paid $180 000 and accumulated at least another $200 000 in capital growth .... instead she paid the landlords mortgage, while the landlord got the growth

John Smith wrote on Feb 16^th, 2014 at 5:51pm:

Sir lastnail wrote on Feb 15th, 2014 at 10:45pm: John Smith wrote on Feb 15th, 2014 at 10:15pm: Sir lastnail wrote on Feb 15th, 2014 at 9:45pm: it_is_the_light wrote on Feb 15th, 2014 at 4:28pm: many blessings , there is no real estate it is an illusion for you will never own any real estate landless peasants ... you will pay an annual duty or rates ... if you do not pay these rates your house will be taken from you and as such you never own the real estate so in fact , and consequently it is false estate it is not real at all .. many dupes believe it real and try to convince you while you pay your rates , forever yet the love within your heart is real and so it is in divine light namaste - : ) = ॐ just to add to that you only really have land rights over your land to about 1 meter in depth. Below that the government has the ownership allowing a mining company to stake its claim :( that sort of twisted logic also means you have also never own cars, motorbikes, boats or anything else you pay an annual fee to use  :D :D :D :D :D the government doesn't give a sh.t about your ownership of consumables. What is important is the usage and not the ownership for which you are legally obliged to pay. and light is correct. Try and not pay your rates for a few years and see how long you own your house ;) o light is wrong ... I own my house, the rates are simply a service fee that comes with owning a house, much like owning a car means you pay rego.

It's not a service fee. It's a tax related to the value of the property.

Service is incidental and not guaranteed.

John Smith wrote on Feb 16^th, 2014 at 5:54pm:

Laugh till you cry wrote on Feb 16th, 2014 at 3:30pm: Datalife wrote on Feb 16th, 2014 at 2:57pm: A couple of differences between Oz and the US, we still have housing demand, not sure the statistics now but only a short while ago vacancy statistics in most states were as low (in the ACT for eg) as 1%.  In comparison for eg in Detroit there are something like 47000 vacant houses.  Also, a big difference is that in the US a homeowner merely needs to hand over the keys to the bank to get out from under a negative equity without any residual debt, in Oz that is not possible and the banks will sell your property and still hound you for the difference.  No get out of debt for free deals.  In modern society with purported labour mobility as an objective, a house is a millstone around the worker's neck. Better to rent and find a new rental when one moves. This is also supported by the theory of economic rationalism where a person should seek the best reward for his services. Unfortunately most punters don't like moving. you think so laugh? I've got a tenant who in the last 15yrs paid in excess of $180 000 rent for the premises she lives in ... if she had bought it when she moved in, she would have paid $180 000 and accumulated at least another $200 000 in capital growth .... instead she paid the landlords mortgage, while the landlord got the growth

isn't that what you parasites want and then on the other hand you don't want people to rent your dumps. Go figure !!

Why not abolish all middle class welfare for property hoarders and speculators and then see you how smug you are. And whilst they are at get rid of the first home buyers scam. Stop foreign investors buying up joints. No more government guarantees on bank deposits etc etc No more kicking the can down the road period for the property sector.

Wealth creators my arse :D LOL

---

The bubble will burst at some time in the next year or two (sooner if Abbott keeps destroying jobs and industries) but I think that the worst that could happen is that prices will drop to about 40% of what they are now, plateau for a while and then recover, but only to about 60-70% of current values.  The banks may resist foreclosing until there is some recovery, as if they don't, they probably won't recover all the money they are owed.

Rents may drop a bit too, but to nowhere near the same extent.

John Smith wrote on Feb 16^th, 2014 at 5:51pm:

Sir lastnail wrote on Feb 15th, 2014 at 10:45pm: John Smith wrote on Feb 15th, 2014 at 10:15pm: Sir lastnail wrote on Feb 15th, 2014 at 9:45pm: it_is_the_light wrote on Feb 15th, 2014 at 4:28pm: many blessings , there is no real estate it is an illusion for you will never own any real estate landless peasants ... you will pay an annual duty or rates ... if you do not pay these rates your house will be taken from you and as such you never own the real estate so in fact , and consequently it is false estate it is not real at all .. many dupes believe it real and try to convince you while you pay your rates , forever yet the love within your heart is real and so it is in divine light namaste - : ) = ॐ just to add to that you only really have land rights over your land to about 1 meter in depth. Below that the government has the ownership allowing a mining company to stake its claim :( that sort of twisted logic also means you have also never own cars, motorbikes, boats or anything else you pay an annual fee to use  :D :D :D :D :D the government doesn't give a sh.t about your ownership of consumables. What is important is the usage and not the ownership for which you are legally obliged to pay. and light is correct. Try and not pay your rates for a few years and see how long you own your house ;) o light is wrong ... I own my house, the rates are simply a service fee that comes with owning a house, much like owning a car means you pay rego.

many blessings ,

try not paying your service fee .. see what happens .

you can put lipstick on a pig ,

its still a pig that you must pay rates for .

an illusion many have swallowed hook line and sinker ..

as it were .. and so it is

believe as you do so please there is no right or wrong

merely your interpretation of self inflicted

real estate dupery ..

so be it

namaste

- : ) =

ॐ

Real estate prices can go up or down but the reality is it won't affect you unless you have a mortgage or need to sell or buy.
Older home owners who have paid off the mortgage won't have to worry too much.

It will be a good buying climate if prices drop, but it won't be very good if you're selling, especially if you have a big mortgage......

Frances wrote on Feb 16^th, 2014 at 8:50pm:

The bubble will burst at some time in the next year or two (sooner if Abbott keeps destroying jobs and industries) but I think that the worst that could happen is that prices will drop to about 40% of what they are now, plateau for a while and then recover, but only to about 60-70% of current values.  The banks may resist foreclosing until there is some recovery, as if they don't, they probably won't recover all the money they are owed. Rents may drop a bit too, but to nowhere near the same extent.

Abbott's not destroying jobs and there isn't a property bubble

Frances wrote on Feb 16^th, 2014 at 8:50pm:

The bubble will burst at some time in the next year or two (sooner if Abbott keeps destroying jobs and industries) but I think that the worst that could happen is that prices will drop to about 40% of what they are now, plateau for a while and then recover, but only to about 60-70% of current values.  The banks may resist foreclosing until there is some recovery, as if they don't, they probably won't recover all the money they are owed. Rents may drop a bit too, but to nowhere near the same extent.

There will be a dead cat bounce followed by another fall. On the 2nd fall is when Harry Dent recommended to get ready to buy a bargain ;)

Swagman wrote on Feb 16^th, 2014 at 9:43pm:

Frances wrote on Feb 16th, 2014 at 8:50pm: The bubble will burst at some time in the next year or two (sooner if Abbott keeps destroying jobs and industries) but I think that the worst that could happen is that prices will drop to about 40% of what they are now, plateau for a while and then recover, but only to about 60-70% of current values.  The banks may resist foreclosing until there is some recovery, as if they don't, they probably won't recover all the money they are owed. Rents may drop a bit too, but to nowhere near the same extent. Abbott's not destroying jobs and there isn't a property bubble

Supply and demand is why our prices are high there is no bubble.

I cant see house prices or rent dropping, our demand is far greater than the supply.

Baronvonrort wrote on Feb 16^th, 2014 at 9:50pm:

Swagman wrote on Feb 16th, 2014 at 9:43pm: Frances wrote on Feb 16th, 2014 at 8:50pm: The bubble will burst at some time in the next year or two (sooner if Abbott keeps destroying jobs and industries) but I think that the worst that could happen is that prices will drop to about 40% of what they are now, plateau for a while and then recover, but only to about 60-70% of current values.  The banks may resist foreclosing until there is some recovery, as if they don't, they probably won't recover all the money they are owed. Rents may drop a bit too, but to nowhere near the same extent. Abbott's not destroying jobs and there isn't a property bubble Supply and demand is why our prices are high there is no bubble. I cant see house prices or rent dropping, our demand is far greater than the supply.

Rort darling, may I commend you to complete your elementary education before posting further?

Laugh till you cry wrote on Feb 16^th, 2014 at 9:52pm:

Rort darling, may I commend you to complete your elementary education before posting further?

Ditto to you.....

Swagman wrote on Feb 16^th, 2014 at 9:57pm:

Laugh till you cry wrote on Feb 16th, 2014 at 9:52pm: Rort darling, may I commend you to complete your elementary education before posting further? Ditto to you.....

Aha! You have exposed yourself as Vanrort.

Laugh till you cry wrote on Feb 16^th, 2014 at 5:55pm:

John Smith wrote on Feb 16th, 2014 at 5:51pm: Sir lastnail wrote on Feb 15th, 2014 at 10:45pm: John Smith wrote on Feb 15th, 2014 at 10:15pm: Sir lastnail wrote on Feb 15th, 2014 at 9:45pm: it_is_the_light wrote on Feb 15th, 2014 at 4:28pm: many blessings , there is no real estate it is an illusion for you will never own any real estate landless peasants ... you will pay an annual duty or rates ... if you do not pay these rates your house will be taken from you and as such you never own the real estate so in fact , and consequently it is false estate it is not real at all .. many dupes believe it real and try to convince you while you pay your rates , forever yet the love within your heart is real and so it is in divine light namaste - : ) = ॐ just to add to that you only really have land rights over your land to about 1 meter in depth. Below that the government has the ownership allowing a mining company to stake its claim :( that sort of twisted logic also means you have also never own cars, motorbikes, boats or anything else you pay an annual fee to use  :D :D :D :D :D the government doesn't give a sh.t about your ownership of consumables. What is important is the usage and not the ownership for which you are legally obliged to pay. and light is correct. Try and not pay your rates for a few years and see how long you own your house ;) o light is wrong ... I own my house, the rates are simply a service fee that comes with owning a house, much like owning a car means you pay rego. It's not a service fee. It's a tax related to the value of the property. Service is incidental and not guaranteed.

I disagree , you pay rates so that you can get your garbage removed, roads to your house maintained and streetlight etc repaired when they go down. However I'm not to fussed if you want to call it a tax, ultimately it's a bill that you pay for services rendered.

Sir lastnail wrote on Feb 16^th, 2014 at 8:41pm:

isn't that what you parasites want and then on the other hand you don't want people to rent your dumps. Go figure !!

No, I've never advocated renting long term ....  I believe renting should alwyas be a short term proposition ... it's better for me if ýou rent long term, and I may as well take your money if thats how you feel, but no, I don't want anyone to rent long term.

Baronvonrort wrote on Feb 16^th, 2014 at 9:50pm:

Swagman wrote on Feb 16th, 2014 at 9:43pm: Frances wrote on Feb 16th, 2014 at 8:50pm: The bubble will burst at some time in the next year or two (sooner if Abbott keeps destroying jobs and industries) but I think that the worst that could happen is that prices will drop to about 40% of what they are now, plateau for a while and then recover, but only to about 60-70% of current values.  The banks may resist foreclosing until there is some recovery, as if they don't, they probably won't recover all the money they are owed. Rents may drop a bit too, but to nowhere near the same extent. Abbott's not destroying jobs and there isn't a property bubble Supply and demand is why our prices are high there is no bubble. I cant see house prices or rent dropping, our demand is far greater than the supply.

and that about sums it up .....

Laugh till you cry wrote on Feb 16^th, 2014 at 9:52pm:

Baronvonrort wrote on Feb 16th, 2014 at 9:50pm: Swagman wrote on Feb 16th, 2014 at 9:43pm: Frances wrote on Feb 16th, 2014 at 8:50pm: The bubble will burst at some time in the next year or two (sooner if Abbott keeps destroying jobs and industries) but I think that the worst that could happen is that prices will drop to about 40% of what they are now, plateau for a while and then recover, but only to about 60-70% of current values.  The banks may resist foreclosing until there is some recovery, as if they don't, they probably won't recover all the money they are owed. Rents may drop a bit too, but to nowhere near the same extent. Abbott's not destroying jobs and there isn't a property bubble Supply and demand is why our prices are high there is no bubble. I cant see house prices or rent dropping, our demand is far greater than the supply. Rort darling, may I commend you to complete your elementary education before posting further?

You have one American saying we have a bubble,everyone else is predicting property values to rise, houses are being sold they are not being passed in.

Does that American make a living from people reading his garbage?

Unlike the USA our banks will not lend you money if you do not have the means to repay the loan.

John Smith wrote on Feb 16^th, 2014 at 10:00pm:

Laugh till you cry wrote on Feb 16th, 2014 at 5:55pm: John Smith wrote on Feb 16th, 2014 at 5:51pm: Sir lastnail wrote on Feb 15th, 2014 at 10:45pm: John Smith wrote on Feb 15th, 2014 at 10:15pm: Sir lastnail wrote on Feb 15th, 2014 at 9:45pm: it_is_the_light wrote on Feb 15th, 2014 at 4:28pm: many blessings , there is no real estate it is an illusion for you will never own any real estate landless peasants ... you will pay an annual duty or rates ... if you do not pay these rates your house will be taken from you and as such you never own the real estate so in fact , and consequently it is false estate it is not real at all .. many dupes believe it real and try to convince you while you pay your rates , forever yet the love within your heart is real and so it is in divine light namaste - : ) = ॐ just to add to that you only really have land rights over your land to about 1 meter in depth. Below that the government has the ownership allowing a mining company to stake its claim :( that sort of twisted logic also means you have also never own cars, motorbikes, boats or anything else you pay an annual fee to use  :D :D :D :D :D the government doesn't give a sh.t about your ownership of consumables. What is important is the usage and not the ownership for which you are legally obliged to pay. and light is correct. Try and not pay your rates for a few years and see how long you own your house ;) o light is wrong ... I own my house, the rates are simply a service fee that comes with owning a house, much like owning a car means you pay rego. It's not a service fee. It's a tax related to the value of the property. Service is incidental and not guaranteed. I disagree , you pay rates so that you can get your garbage removed, roads to your house maintained and streetlight etc repaired when they go down. However I'm not to fussed if you want to call it a tax, ultimately it's a bill that you pay for services rendered.

Can one request a refund if no lights needed fixing, no roads needed repairing and no garbage was collected because residents were absent?

Laugh till you cry wrote on Feb 16^th, 2014 at 10:04pm:

John Smith wrote on Feb 16th, 2014 at 10:00pm: Laugh till you cry wrote on Feb 16th, 2014 at 5:55pm: John Smith wrote on Feb 16th, 2014 at 5:51pm: Sir lastnail wrote on Feb 15th, 2014 at 10:45pm: John Smith wrote on Feb 15th, 2014 at 10:15pm: Sir lastnail wrote on Feb 15th, 2014 at 9:45pm: it_is_the_light wrote on Feb 15th, 2014 at 4:28pm: many blessings , there is no real estate it is an illusion for you will never own any real estate landless peasants ... you will pay an annual duty or rates ... if you do not pay these rates your house will be taken from you and as such you never own the real estate so in fact , and consequently it is false estate it is not real at all .. many dupes believe it real and try to convince you while you pay your rates , forever yet the love within your heart is real and so it is in divine light namaste - : ) = ॐ just to add to that you only really have land rights over your land to about 1 meter in depth. Below that the government has the ownership allowing a mining company to stake its claim :( that sort of twisted logic also means you have also never own cars, motorbikes, boats or anything else you pay an annual fee to use  :D :D :D :D :D the government doesn't give a sh.t about your ownership of consumables. What is important is the usage and not the ownership for which you are legally obliged to pay. and light is correct. Try and not pay your rates for a few years and see how long you own your house ;) o light is wrong ... I own my house, the rates are simply a service fee that comes with owning a house, much like owning a car means you pay rego. It's not a service fee. It's a tax related to the value of the property. Service is incidental and not guaranteed. I disagree , you pay rates so that you can get your garbage removed, roads to your house maintained and streetlight etc repaired when they go down. However I'm not to fussed if you want to call it a tax, ultimately it's a bill that you pay for services rendered. Can one request a refund if no lights needed fixing, no roads needed repairing and no garbage was collected because residents were absent?

the service is provided for the whole community, not just for you, and is the price you pay for living as a member of modern society.  You can request a refund if you like, just don't act surprised when they tell you to piss off.

John Smith wrote on Feb 16^th, 2014 at 10:00pm:

Laugh till you cry wrote on Feb 16th, 2014 at 5:55pm: John Smith wrote on Feb 16th, 2014 at 5:51pm: Sir lastnail wrote on Feb 15th, 2014 at 10:45pm: John Smith wrote on Feb 15th, 2014 at 10:15pm: Sir lastnail wrote on Feb 15th, 2014 at 9:45pm: it_is_the_light wrote on Feb 15th, 2014 at 4:28pm: many blessings , there is no real estate it is an illusion for you will never own any real estate landless peasants ... you will pay an annual duty or rates ... if you do not pay these rates your house will be taken from you and as such you never own the real estate so in fact , and consequently it is false estate it is not real at all .. many dupes believe it real and try to convince you while you pay your rates , forever yet the love within your heart is real and so it is in divine light namaste - : ) = ॐ just to add to that you only really have land rights over your land to about 1 meter in depth. Below that the government has the ownership allowing a mining company to stake its claim :( that sort of twisted logic also means you have also never own cars, motorbikes, boats or anything else you pay an annual fee to use  :D :D :D :D :D the government doesn't give a sh.t about your ownership of consumables. What is important is the usage and not the ownership for which you are legally obliged to pay. and light is correct. Try and not pay your rates for a few years and see how long you own your house ;) o light is wrong ... I own my house, the rates are simply a service fee that comes with owning a house, much like owning a car means you pay rego. It's not a service fee. It's a tax related to the value of the property. Service is incidental and not guaranteed. I disagree , you pay rates so that you can get your garbage removed, roads to your house maintained and streetlight etc repaired when they go down. However I'm not to fussed if you want to call it a tax, ultimately it's a bill that you pay for services rendered.

Council rates also go towards maintaining parks etc, the renters can claim to contribute towards this as they pay the rates for the owners.

Baronvonrort wrote on Feb 16^th, 2014 at 9:50pm:

Swagman wrote on Feb 16th, 2014 at 9:43pm: Frances wrote on Feb 16th, 2014 at 8:50pm: The bubble will burst at some time in the next year or two (sooner if Abbott keeps destroying jobs and industries) but I think that the worst that could happen is that prices will drop to about 40% of what they are now, plateau for a while and then recover, but only to about 60-70% of current values.  The banks may resist foreclosing until there is some recovery, as if they don't, they probably won't recover all the money they are owed. Rents may drop a bit too, but to nowhere near the same extent. Abbott's not destroying jobs and there isn't a property bubble Supply and demand is why our prices are high there is no bubble. I cant see house prices or rent dropping, our demand is far greater than the supply.

Go globalisation  :-? :-? :-? :-? :-? :-? :-? :-?

John Smith wrote on Feb 16^th, 2014 at 10:03pm:

Baronvonrort wrote on Feb 16th, 2014 at 9:50pm: Swagman wrote on Feb 16th, 2014 at 9:43pm: Frances wrote on Feb 16th, 2014 at 8:50pm: The bubble will burst at some time in the next year or two (sooner if Abbott keeps destroying jobs and industries) but I think that the worst that could happen is that prices will drop to about 40% of what they are now, plateau for a while and then recover, but only to about 60-70% of current values.  The banks may resist foreclosing until there is some recovery, as if they don't, they probably won't recover all the money they are owed. Rents may drop a bit too, but to nowhere near the same extent. Abbott's not destroying jobs and there isn't a property bubble Supply and demand is why our prices are high there is no bubble. I cant see house prices or rent dropping, our demand is far greater than the supply. and that about sums it up .....

People are buying that don't even live here...  :o :o

For what it is Australian property is generally very cheap. If you factor in lifestyle, we are the cheapest property on the planet. asians arent stupid, thats why they are buying here.

ian wrote on Feb 17^th, 2014 at 12:29am:

For what it is Australian property is generally very cheap. If you factor in lifestyle, we are the cheapest property on the planet. asians arent stupiud, thats why they are buying here.

And Asians (Japan at least)...I have heard, pay 0% on their loans, but the stipulation is, that they buy new.

if you live in Japan, you need some incentive. they live in dogboxes, most of them. I knew a couple of Japanese people, couldnmt stand the open spaces here. Totally as in had a minor breakdown when confronted with a vast open space. Most of the world lives cheek to jowl. We are lucky.

They utilize a room for both bedroom and lounge, where they roll up their beds and store them for the day.

When the students come here for a couple of weeks stay, they are amazed at how we have a room just for fixed bedding.

Also, they would call Australia, land of the big sky....must be very crowded buildings over there where they hardly see any sky!

I wonder, what age group are you referring to those that couldn't stand the open spaces here?

The teens loved it, and loved the casualness of the class rooms, sitting in pairs, or in circles when discussing and also working in groups, whereas back home in Japan, it is very rigid, one desk in front of another, like they do in the USA.
Most want to come back again, and those that do, and stay a year, can never go back again and live the strict way they had.

ian wrote on Feb 17^th, 2014 at 12:34am:

if you live in Japan, you need some incentive. they live in dogboxes, most of them. I knew a couple of Japanese people, couldnmt stand the open spaces here. Totally as in had a minor breakdown when confronted with a vast open space. Most of the world lives cheek to jowl. We are lucky.

That is quite insulting to the Japanese and Asians in general.

If you want to see a dog box go to Monaco Europe where they have apartments less than 20 sq. m and I understand there are apartments even smaller than that in Monaco.

Asians love the social interaction of their environment and it is understandable why they would not like large open spaces.

And they don't see rude racist people like you.

ian wrote on Feb 17^th, 2014 at 12:34am:

if you live in Japan, you need some incentive. they live in dogboxes, most of them. I knew a couple of Japanese people, couldnmt stand the open spaces here. Totally as in had a minor breakdown when confronted with a vast open space. Most of the world lives cheek to jowl. We are lucky.

Don't they drive off the road mid freak-out from all the space??

John Smith wrote on Feb 16^th, 2014 at 10:03pm:

Sir lastnail wrote on Feb 16th, 2014 at 8:41pm: isn't that what you parasites want and then on the other hand you don't want people to rent your dumps. Go figure !! No, I've never advocated renting long term ....  I believe renting should alwyas be a short term proposition ... it's better for me if ýou rent long term, and I may as well take your money if thats how you feel, but no, I don't want anyone to rent long term.

what about meddling in the property market to keep prices inflated which is what labor has been doing for the last 6 years. Should that be short term as well or should successive governments keep kicking the can down the road ?

Baronvonrort wrote on Feb 16^th, 2014 at 10:04pm:

Laugh till you cry wrote on Feb 16th, 2014 at 9:52pm: Baronvonrort wrote on Feb 16th, 2014 at 9:50pm: Swagman wrote on Feb 16th, 2014 at 9:43pm: Frances wrote on Feb 16th, 2014 at 8:50pm: The bubble will burst at some time in the next year or two (sooner if Abbott keeps destroying jobs and industries) but I think that the worst that could happen is that prices will drop to about 40% of what they are now, plateau for a while and then recover, but only to about 60-70% of current values.  The banks may resist foreclosing until there is some recovery, as if they don't, they probably won't recover all the money they are owed. Rents may drop a bit too, but to nowhere near the same extent. Abbott's not destroying jobs and there isn't a property bubble Supply and demand is why our prices are high there is no bubble. I cant see house prices or rent dropping, our demand is far greater than the supply. Rort darling, may I commend you to complete your elementary education before posting further? You have one American saying we have a bubble,everyone else is predicting property values to rise, houses are being sold they are not being passed in. Does that American make a living from people reading his garbage? Unlike the USA our banks will not lend you money if you do not have the means to repay the loan.

or do the banks here make a fortune by us believing their garbage ?

Sir lastnail wrote on Feb 17^th, 2014 at 12:03pm:

Baronvonrort wrote on Feb 16th, 2014 at 10:04pm: Laugh till you cry wrote on Feb 16th, 2014 at 9:52pm: Baronvonrort wrote on Feb 16th, 2014 at 9:50pm: Swagman wrote on Feb 16th, 2014 at 9:43pm: Frances wrote on Feb 16th, 2014 at 8:50pm: The bubble will burst at some time in the next year or two (sooner if Abbott keeps destroying jobs and industries) but I think that the worst that could happen is that prices will drop to about 40% of what they are now, plateau for a while and then recover, but only to about 60-70% of current values.  The banks may resist foreclosing until there is some recovery, as if they don't, they probably won't recover all the money they are owed. Rents may drop a bit too, but to nowhere near the same extent. Abbott's not destroying jobs and there isn't a property bubble Supply and demand is why our prices are high there is no bubble. I cant see house prices or rent dropping, our demand is far greater than the supply. Rort darling, may I commend you to complete your elementary education before posting further? You have one American saying we have a bubble,everyone else is predicting property values to rise, houses are being sold they are not being passed in. Does that American make a living from people reading his garbage? Unlike the USA our banks will not lend you money if you do not have the means to repay the loan. or do the banks here make a fortune by us believing their garbage ?

I have shares in Commonwealth and Westpac banks, the dividends are pretty good i think the shareholders will be happy.

The demand is greater than the supply with housing which means prices will continue to rise.

The rental vacancy rates are around 1% so no chance of rents dropping.

Sir lastnail wrote on Feb 17^th, 2014 at 12:03pm:

Baronvonrort wrote on Feb 16th, 2014 at 10:04pm: Laugh till you cry wrote on Feb 16th, 2014 at 9:52pm: Baronvonrort wrote on Feb 16th, 2014 at 9:50pm: Swagman wrote on Feb 16th, 2014 at 9:43pm: Frances wrote on Feb 16th, 2014 at 8:50pm: The bubble will burst at some time in the next year or two (sooner if Abbott keeps destroying jobs and industries) but I think that the worst that could happen is that prices will drop to about 40% of what they are now, plateau for a while and then recover, but only to about 60-70% of current values.  The banks may resist foreclosing until there is some recovery, as if they don't, they probably won't recover all the money they are owed. Rents may drop a bit too, but to nowhere near the same extent. Abbott's not destroying jobs and there isn't a property bubble Supply and demand is why our prices are high there is no bubble. I cant see house prices or rent dropping, our demand is far greater than the supply. Rort darling, may I commend you to complete your elementary education before posting further? You have one American saying we have a bubble,everyone else is predicting property values to rise, houses are being sold they are not being passed in. Does that American make a living from people reading his garbage? Unlike the USA our banks will not lend you money if you do not have the means to repay the loan. or do the banks here make a fortune by us believing their garbage ?

Well If you think there getting upya put you money under the bed  LOL  I'm  shore they will care about the $3 or $4 

;) ;) ;)

BatteriesNotIncluded wrote on Feb 16^th, 2014 at 11:50pm:

John Smith wrote on Feb 16th, 2014 at 10:03pm: Baronvonrort wrote on Feb 16th, 2014 at 9:50pm: Swagman wrote on Feb 16th, 2014 at 9:43pm: Frances wrote on Feb 16th, 2014 at 8:50pm: The bubble will burst at some time in the next year or two (sooner if Abbott keeps destroying jobs and industries) but I think that the worst that could happen is that prices will drop to about 40% of what they are now, plateau for a while and then recover, but only to about 60-70% of current values.  The banks may resist foreclosing until there is some recovery, as if they don't, they probably won't recover all the money they are owed. Rents may drop a bit too, but to nowhere near the same extent. Abbott's not destroying jobs and there isn't a property bubble Supply and demand is why our prices are high there is no bubble. I cant see house prices or rent dropping, our demand is far greater than the supply. and that about sums it up ..... People are buying that don't even live here...  :o :o

it doesn't matter where the demand comes from, whilst we have higher demand than supply, prices will continue to rise

Sir lastnail wrote on Feb 17^th, 2014 at 12:00pm:

John Smith wrote on Feb 16th, 2014 at 10:03pm: Sir lastnail wrote on Feb 16th, 2014 at 8:41pm: isn't that what you parasites want and then on the other hand you don't want people to rent your dumps. Go figure !! No, I've never advocated renting long term ....  I believe renting should alwyas be a short term proposition ... it's better for me if ýou rent long term, and I may as well take your money if thats how you feel, but no, I don't want anyone to rent long term. what about meddling in the property market to keep prices inflated which is what labor has been doing for the last 6 years. Should that be short term as well or should successive governments keep kicking the can down the road ?

what about raving on like a lunatic whenever anyone mentions property, is that long or short term?

John Smith wrote on Feb 17^th, 2014 at 1:35pm:

Sir lastnail wrote on Feb 17th, 2014 at 12:00pm: John Smith wrote on Feb 16th, 2014 at 10:03pm: Sir lastnail wrote on Feb 16th, 2014 at 8:41pm: isn't that what you parasites want and then on the other hand you don't want people to rent your dumps. Go figure !! No, I've never advocated renting long term ....  I believe renting should alwyas be a short term proposition ... it's better for me if ýou rent long term, and I may as well take your money if thats how you feel, but no, I don't want anyone to rent long term. what about meddling in the property market to keep prices inflated which is what labor has been doing for the last 6 years. Should that be short term as well or should successive governments keep kicking the can down the road ? what about raving on like a lunatic whenever anyone mentions property, is that long or short term?

nothing to add as usual ? just hiding behind billions in corporate welfare each year pretending to create money out of thin air !

I'm interested to see if flipping houses at ever increasing prices can keep the economy ticking along whilst everything else in the economy takes a nose dive.

I mean who needs manufacturing when you can just flip houses ? Those Germans must be stupid making all of them cars. The Germans are not as smart as us aussies. They haven't worked out that the secret to an enviable economy is to flip houses to each other whilst sitting on your big fat arse slurping up cafe lattes all day :D LOL

Baronvonrort wrote on Feb 16^th, 2014 at 10:06pm:

John Smith wrote on Feb 16th, 2014 at 10:00pm: Laugh till you cry wrote on Feb 16th, 2014 at 5:55pm: John Smith wrote on Feb 16th, 2014 at 5:51pm: Sir lastnail wrote on Feb 15th, 2014 at 10:45pm: John Smith wrote on Feb 15th, 2014 at 10:15pm: Sir lastnail wrote on Feb 15th, 2014 at 9:45pm: it_is_the_light wrote on Feb 15th, 2014 at 4:28pm: many blessings , there is no real estate it is an illusion for you will never own any real estate landless peasants ... you will pay an annual duty or rates ... if you do not pay these rates your house will be taken from you and as such you never own the real estate so in fact , and consequently it is false estate it is not real at all .. many dupes believe it real and try to convince you while you pay your rates , forever yet the love within your heart is real and so it is in divine light namaste - : ) = ॐ just to add to that you only really have land rights over your land to about 1 meter in depth. Below that the government has the ownership allowing a mining company to stake its claim :( that sort of twisted logic also means you have also never own cars, motorbikes, boats or anything else you pay an annual fee to use  :D :D :D :D :D the government doesn't give a sh.t about your ownership of consumables. What is important is the usage and not the ownership for which you are legally obliged to pay. and light is correct. Try and not pay your rates for a few years and see how long you own your house ;) o light is wrong ... I own my house, the rates are simply a service fee that comes with owning a house, much like owning a car means you pay rego. It's not a service fee. It's a tax related to the value of the property. Service is incidental and not guaranteed. I disagree , you pay rates so that you can get your garbage removed, roads to your house maintained and streetlight etc repaired when they go down. However I'm not to fussed if you want to call it a tax, ultimately it's a bill that you pay for services rendered. Council rates also go towards maintaining parks etc, the renters can claim to contribute towards this as they pay the rates for the owners.

many blessings,

anyway you look at it call it what you will

its all lingusistics however

you do not pay rates

you get kicked out of the house ..

even if you have " paid it off " ( lol you will NEVER

pay this off because you will pay rates for eternity

under the home owner ~ ship conditional parameters

loL at the clueless dupes then send compassion )

and " own " it

through home owner ~ship~ a fabricated contract

attached to your citizen ~ ship through your

'person ' ie : corporation/birth certificate

which is not you , merely a certificate documenting

your birth like any ship would manifest their goods ,

drawn up to co - erce clueless dupes into believing

they ' own ' a house ..

smell your freedom

in love and light

namaste

- : ) =

ॐ

Sir lastnail wrote on Feb 17^th, 2014 at 9:40pm:

nothing to add as usual

and you think you repeating the same thing 100 times over adds anything to the debate? :D :D ;D


Sir lastnail wrote on Feb 17^th, 2014 at 9:40pm:

I'm interested to see if flipping houses at ever increasing prices can keep the economy ticking along whilst everything else in the economy takes a nose dive.

I'm not trying to keep the economy ticking over, that Abbotts job


Sir lastnail wrote on Feb 17^th, 2014 at 9:40pm:

I mean who needs manufacturing when you can just flip houses ? Those Germans must be stupid making all of them cars. The Germans are not as smart as us aussies. They haven't worked out that the secret to an enviable economy is to flip houses to each other whilst sitting on your big fat arse slurping up cafe lattes all day  LOL

not sure what makes you think I ever said we don't need manufacturing .. we do .,..and I don't give a f#ck what the Germans do or do not do. Now stop hyperventilating and engage your brain.

John Smith wrote on Feb 17^th, 2014 at 1:32pm:

BatteriesNotIncluded wrote on Feb 16th, 2014 at 11:50pm: John Smith wrote on Feb 16th, 2014 at 10:03pm: Baronvonrort wrote on Feb 16th, 2014 at 9:50pm: Swagman wrote on Feb 16th, 2014 at 9:43pm: Frances wrote on Feb 16th, 2014 at 8:50pm: The bubble will burst at some time in the next year or two (sooner if Abbott keeps destroying jobs and industries) but I think that the worst that could happen is that prices will drop to about 40% of what they are now, plateau for a while and then recover, but only to about 60-70% of current values.  The banks may resist foreclosing until there is some recovery, as if they don't, they probably won't recover all the money they are owed. Rents may drop a bit too, but to nowhere near the same extent. Abbott's not destroying jobs and there isn't a property bubble Supply and demand is why our prices are high there is no bubble. I cant see house prices or rent dropping, our demand is far greater than the supply. and that about sums it up ..... People are buying that don't even live here...  :o :o it doesn't matter where the demand comes from, whilst we have higher demand than supply, prices will continue to rise

off course it makes a difference because you are just inflating the bubble much more than it would if it was left to the locals. Of course this is the intention at the banks request :(

Like I said the government should stop meddling in it and stop kicking the can down the road. There are only so many hare brained ideas that will artificially keep the bubble inflated :(

many blessings ,

and try to drive your car that you 'own'

without paying the rates or rego

all linguistics ,

you never own the car either

for you will pay rego or look at it in the garage

of your house that you ' own ' lol!

wake up there china the penny has dropped

in love and light

namaste

- : ) =




ॐ

Sir lastnail wrote on Feb 17^th, 2014 at 10:01pm:

There are only so many hare brained ideas that will artificially keep the bubble inflated

wanna bet?

John Smith wrote on Feb 17^th, 2014 at 9:58pm:

Sir lastnail wrote on Feb 17th, 2014 at 9:40pm: nothing to add as usual and you think you repeating the same thing 100 times over adds anything to the debate? :D :D ;D Sir lastnail wrote on Feb 17th, 2014 at 9:40pm: I'm interested to see if flipping houses at ever increasing prices can keep the economy ticking along whilst everything else in the economy takes a nose dive. I'm not trying to keep the economy ticking over, that Abbotts job Sir lastnail wrote on Feb 17th, 2014 at 9:40pm: I mean who needs manufacturing when you can just flip houses ? Those Germans must be stupid making all of them cars. The Germans are not as smart as us aussies. They haven't worked out that the secret to an enviable economy is to flip houses to each other whilst sitting on your big fat arse slurping up cafe lattes all day  LOL not sure what makes you think I ever said we don't need manufacturing .. we do .,..and I don't give a f#ck what the Germans do or do not do. Now stop hyperventilating and engage your brain.

you don't give a bugger because you think you can run the economy by fueling a property with more and more debt :(

John Smith wrote on Feb 17^th, 2014 at 10:08pm:

Sir lastnail wrote on Feb 17th, 2014 at 10:01pm: There are only so many hare brained ideas that will artificially keep the bubble inflated wanna bet?

yeh well what will be the next hare brained idea to keep the bubble inflated ?

the last one was labors relaxing SMSF's to allow them to borrow to buy up property :(

And I hear that people who have lost their jobs can still claim the dole if they have money in the bank as long as it's in a redraw account which is money exclusively used to pay off their mortgage :( You see more government meddling in the form of middle class welfare designed to keep the bubble inflated :(

It's a pity pollies can't put their creative efforts into creating some real value added industries.

Sir lastnail wrote on Feb 17^th, 2014 at 10:28pm:

It's a pity pollies can't put their creative efforts into creating some real value added industries.

;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D                                                             ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D                               ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D


Not laughing AT you, Nail... with you....

Sir lastnail wrote on Feb 17^th, 2014 at 10:24pm:

you don't give a bugger because you think you can run the economy by fueling a property with more and more debt

do you struggle with reading or is it simply comprehension thats the problem for you???


John Smith wrote on Feb 17^th, 2014 at 9:58pm:

I'm not trying to keep the economy ticking over, that Abbotts job

Sir lastnail wrote on Feb 17^th, 2014 at 10:28pm:

yeh well what will be the next hare brained idea to keep the bubble inflated ?

don't know, but I'm sure they'll think of something

the thing you forget is that most politicians own several houses with some owning many, and they are not likely to do anything that will see their own property value fall ... If I have faith in the poli's doing something it's that they'll protect their own wallets

before you get your knickers in a knot, I'm not saying I necessarily agree with it, only that that''s what I believe the poli's will do

Laugh till you cry wrote on Feb 17^th, 2014 at 1:29am:

That is quite insulting to the Japanese and Asians in general. If you want to see a dog box go to Monaco Europe where they have apartments less than 20 sq. m and I understand there are apartments even smaller than that in Monaco. Asians love the social interaction of their environment and it is understandable why they would not like large open spaces. And they don't see rude racist people like you.

They dont have the space, thats the point. we dont know how lucky we are here. Housing is dirt cheap here in comparison. Get a life and stop crying racist, I know more about asia than you will ever.

ian wrote on Feb 17^th, 2014 at 11:43pm:

Laugh till you cry wrote on Feb 17th, 2014 at 1:29am: That is quite insulting to the Japanese and Asians in general. If you want to see a dog box go to Monaco Europe where they have apartments less than 20 sq. m and I understand there are apartments even smaller than that in Monaco. Asians love the social interaction of their environment and it is understandable why they would not like large open spaces. And they don't see rude racist people like you. They dont have the space, thats the point. we dont know how lucky we are here. Housing is dirt cheap here in comparison. Get a life and stop crying racist, I know more about asia than you will ever.

If Australia is so lucky why don't all the billionaires live here?

Instead of winners we ended up with barrow boys, spivs, spruikers, used car salesmen and the criminals UK wanted to get rid of.

Laugh till you cry wrote on Feb 18^th, 2014 at 12:00am:

If Australia is so lucky why don't all the billionaires live here?

why doesnt everyone live here?  Silly question if you think about it. Quality of life is not necassarily based on money, thats the point. If it was our median house price would be 100 million bucks. Housing is dirt cheap here for what it is.

ian wrote on Feb 18^th, 2014 at 12:09am:

Laugh till you cry wrote on Feb 18th, 2014 at 12:00am: If Australia is so lucky why don't all the billionaires live here? why doesnt everyone live here?  Silly question if you think about it. Quality of life is not necassarily based on money, thats the point. If it was our median house price would be 100 million bucks. Housing is dirt cheap here for what it is.

If you want to live among whingeing closet poms who have lost their way and their genetic heritage and are now becoming adept at digging holes in the ground you have come to the right place.

Go elsewhere if you want culture and intelligent company, including Japan.

Have a good whinge here Ian and get it off your chest.

Laugh till you cry wrote on Feb 18^th, 2014 at 12:00am:

ian wrote on Feb 17th, 2014 at 11:43pm: Laugh till you cry wrote on Feb 17th, 2014 at 1:29am: That is quite insulting to the Japanese and Asians in general. If you want to see a dog box go to Monaco Europe where they have apartments less than 20 sq. m and I understand there are apartments even smaller than that in Monaco. Asians love the social interaction of their environment and it is understandable why they would not like large open spaces. And they don't see rude racist people like you. They dont have the space, thats the point. we dont know how lucky we are here. Housing is dirt cheap here in comparison. Get a life and stop crying racist, I know more about asia than you will ever. If Australia is so lucky why don't all the billionaires live here? Instead of winners we ended up with barrow boys, spivs, spruikers, used car salesmen and the criminals UK wanted to get rid of.

Billionaires can live wherever they want: I assume they simply pick where there is no deadly communicable disease!

Of course they simply don't know down here but there is not much life here either, relatively speaking if you aren't from around these here parts!

The point stands: they aren't flocking here I suppose!

...we are lucky, ...except for the fact most are slaves to out of control housing if you're below 30 years of age!

ian wrote on Feb 18^th, 2014 at 12:09am:

Laugh till you cry wrote on Feb 18th, 2014 at 12:00am: If Australia is so lucky why don't all the billionaires live here? why doesnt everyone live here?  Silly question if you think about it. Quality of life is not necassarily based on money, thats the point. If it was our median house price would be 100 million bucks. Housing is dirt cheap here for what it is.

You are being equally, but not totally invalid, on the meaning of 'luck'... it is simply being pointed out that we aren't all that   ;) ;)
You argue it ain't all about money well guess what: we are the antipodes and that means ASS END OF THE WORLD... why would anyone come here when we just talk crap about being an allegedly clever country like we were still coming out of the 1980s with Paul Hogan doing our PR??

Some people care about culture and we are still a bunch of cringers...  :o :o

.. it can change but the point is it hasn't: that's what I'm reading atleast!

ian wrote on Feb 18^th, 2014 at 12:09am:

Laugh till you cry wrote on Feb 18th, 2014 at 12:00am: If Australia is so lucky why don't all the billionaires live here? why doesnt everyone live here?  Silly question if you think about it. Quality of life is not necassarily based on money, thats the point. If it was our median house price would be 100 million bucks. Housing is dirt cheap here for what it is.

Lastly i question this: young people under 30 are having heart attacks hence the drugs and 8 year relationships that end soon after a large mortgage is entered into!

-->>scarey stuff and if you're not going thru it how would you really know........?

it_is_the_light wrote on Feb 17^th, 2014 at 10:07pm:

and try to drive your car that you 'own' without paying the rates or rego all linguistics , you never own the car either for you will pay rego or look at it in the garage

But as car registration is basically a fee for using the road system, how does it have any relevance to car ownership?  You only need to have a car registered if you intend to use it on the road.  If the car is, for example, part of a collection of vintage cars, and is never taken out on a public road, it doesn't have to be registered.

many blessings ,

yet by your own logic you admit

you cannot drive your car that you own

unless you pay a tax that will self perpetuate

for all time ,

even if you own the car outright you are not able

to drive your car on the public( that means you )

roads ... by all means buy a bently and look at it

in the garage of the house

you will never own ..for that is the onlyest way

you can stroke your possession ..

does this comfort you ?

im interested

namaste

- : ) =

ॐ

Frances wrote on Feb 18^th, 2014 at 6:27am:

it_is_the_light wrote on Feb 17th, 2014 at 10:07pm: and try to drive your car that you 'own' without paying the rates or rego all linguistics , you never own the car either for you will pay rego or look at it in the garage But as car registration is basically a fee for using the road system, how does it have any relevance to car ownership?  You only need to have a car registered if you intend to use it on the road.  If the car is, for example, part of a collection of vintage cars, and is never taken out on a public road, it doesn't have to be registered.

many blessings ,

your logic is flawed and a non sense

however

carry on regardless

namaste

- : ) =

ॐ

it_is_the_light wrote on Feb 18^th, 2014 at 6:41am:

by all means buy a bently and look at it in the garage of the house you will never own ..for that is the onlyest way you can stroke your possession .. does this comfort you ? im interested namaste - : ) = ॐ

The point I was trying to make is that registration is of relevance to car use, not necessarily car ownership.

I do find old cars interesting, but I have no inclination to buy one however, if I did, I would have it registered for road use.  I would not want to just go into the garage and stroke my possession.....

Laugh till you cry wrote on Feb 18^th, 2014 at 12:00am:

ian wrote on Feb 17th, 2014 at 11:43pm: Laugh till you cry wrote on Feb 17th, 2014 at 1:29am: That is quite insulting to the Japanese and Asians in general. If you want to see a dog box go to Monaco Europe where they have apartments less than 20 sq. m and I understand there are apartments even smaller than that in Monaco. Asians love the social interaction of their environment and it is understandable why they would not like large open spaces. And they don't see rude racist people like you. They dont have the space, thats the point. we dont know how lucky we are here. Housing is dirt cheap here in comparison. Get a life and stop crying racist, I know more about asia than you will ever. If Australia is so lucky why don't all the billionaires live here? Instead of winners we ended up with barrow boys, spivs, spruikers, used car salesmen and the criminals UK wanted to get rid of.

our heritage of peasants and convicts still shows today unfortunately :(

ian wrote on Feb 18^th, 2014 at 12:09am:

Laugh till you cry wrote on Feb 18th, 2014 at 12:00am: If Australia is so lucky why don't all the billionaires live here? why doesnt everyone live here?  Silly question if you think about it. Quality of life is not necassarily based on money, thats the point. If it was our median house price would be 100 million bucks. Housing is dirt cheap here for what it is.

housing is way overinflated here with a 10 to 1 house price to income ratio. There is no denying that this is bubble territory. Only people with vested interests would deny that :(

Quote: 'you think so laugh? I've got a tenant who in the last 15yrs paid in excess of $180 000 rent for the premises she lives in ... if she had bought it when she moved in, she would have paid $180 000 and accumulated at least another $200 000 in capital growth .... instead she paid the landlords mortgage, while the landlord got the growth'

--------------


The above is true

PZ547 wrote on Feb 18^th, 2014 at 1:20pm:

Quote: 'you think so laugh? I've got a tenant who in the last 15yrs paid in excess of $180 000 rent for the premises she lives in ... if she had bought it when she moved in, she would have paid $180 000 and accumulated at least another $200 000 in capital growth .... instead she paid the landlords mortgage, while the landlord got the growth' -------------- The above is true

I repeat in case it takes more than once to penetrate your cranium.

If Australia is so lucky why don't all the billionaires live here?

Instead of winners we ended up with barrow boys, spivs, spruikers, used car salesmen and the criminals UK wanted to get rid of.

Thank your tenant for her largess.

Quote:  'you think so laugh? I've got a tenant who in the last 15yrs paid in excess of $180 000 rent for the premises she lives in ... if she had bought it when she moved in, she would have paid $180 000 and accumulated at least another $200 000 in capital growth .... instead she paid the landlords mortgage, while the landlord got the growth'[/i]



The above remains true

PZ547 wrote on Feb 18^th, 2014 at 1:57pm:

Quote:  'you think so laugh? I've got a tenant who in the last 15yrs paid in excess of $180 000 rent for the premises she lives in ... if she had bought it when she moved in, she would have paid $180 000 and accumulated at least another $200 000 in capital growth .... instead she paid the landlords mortgage, while the landlord got the growth'[/i] The above remains true

instead of growing our manufacturing and value adding industries we grew the back pockets of village idiots with the house hoarding mentality. All with the governments blessing of course :(

Sir lastnail wrote on Feb 18^th, 2014 at 2:46pm:

PZ547 wrote on Feb 18th, 2014 at 1:57pm: Quote:  'you think so laugh? I've got a tenant who in the last 15yrs paid in excess of $180 000 rent for the premises she lives in ... if she had bought it when she moved in, she would have paid $180 000 and accumulated at least another $200 000 in capital growth .... instead she paid the landlords mortgage, while the landlord got the growth'[/i] The above remains true instead of growing our manufacturing and value adding industries we grew the back pockets of village idiots with the house hoarding mentality. All with the governments blessing of course :(

PZ547 is the hereditary king of the village idiots.

Laugh till you cry wrote on Feb 18^th, 2014 at 1:47pm:

PZ547 wrote on Feb 18th, 2014 at 1:20pm: Quote: 'you think so laugh? I've got a tenant who in the last 15yrs paid in excess of $180 000 rent for the premises she lives in ... if she had bought it when she moved in, she would have paid $180 000 and accumulated at least another $200 000 in capital growth .... instead she paid the landlords mortgage, while the landlord got the growth' -------------- The above is true I repeat in case it takes more than once to penetrate your cranium. If Australia is so lucky why don't all the billionaires live here? Instead of winners we ended up with barrow boys, spivs, spruikers, used car salesmen and the criminals UK wanted to get rid of. Thank your tenant for her largess.

Thats a f#cken stupid argument ... name one country anywhere on this planet (or any other if you are so inclined) where all the worlds millionaires live?

Frances wrote on Feb 18^th, 2014 at 6:47am:

it_is_the_light wrote on Feb 18th, 2014 at 6:41am: by all means buy a bently and look at it in the garage of the house you will never own ..for that is the onlyest way you can stroke your possession .. does this comfort you ? im interested namaste - : ) = ॐ The point I was trying to make is that registration is of relevance to car use, not necessarily car ownership. I do find old cars interesting, but I have no inclination to buy one however, if I did, I would have it registered for road use.  I would not want to just go into the garage and stroke my possession.....

many blessings ,

yet why else would one in a 3rd dimensional illusion

buy such a thing if you cannot drive it

... im interested

with compassion

namaste

- : ) =

ॐ

John Smith wrote on Feb 18^th, 2014 at 5:50pm:

Laugh till you cry wrote on Feb 18th, 2014 at 1:47pm: PZ547 wrote on Feb 18th, 2014 at 1:20pm: Quote: 'you think so laugh? I've got a tenant who in the last 15yrs paid in excess of $180 000 rent for the premises she lives in ... if she had bought it when she moved in, she would have paid $180 000 and accumulated at least another $200 000 in capital growth .... instead she paid the landlords mortgage, while the landlord got the growth' -------------- The above is true I repeat in case it takes more than once to penetrate your cranium. If Australia is so lucky why don't all the billionaires live here? Instead of winners we ended up with barrow boys, spivs, spruikers, used car salesmen and the criminals UK wanted to get rid of. Thank your tenant for her largess. Thats a f#cken stupid argument ... name one country anywhere on this planet (or any other if you are so inclined) where all the worlds millionaires live?

Elysium

Laugh till you cry wrote on Feb 18^th, 2014 at 1:47pm:

If Australia is so lucky why don't all the billionaires live here?

Don't a lot of them live in tax havens though?

Rubin wrote on Feb 18^th, 2014 at 7:23pm:

John Smith wrote on Feb 18th, 2014 at 5:50pm: Laugh till you cry wrote on Feb 18th, 2014 at 1:47pm: PZ547 wrote on Feb 18th, 2014 at 1:20pm: Quote: 'you think so laugh? I've got a tenant who in the last 15yrs paid in excess of $180 000 rent for the premises she lives in ... if she had bought it when she moved in, she would have paid $180 000 and accumulated at least another $200 000 in capital growth .... instead she paid the landlords mortgage, while the landlord got the growth' -------------- The above is true I repeat in case it takes more than once to penetrate your cranium. If Australia is so lucky why don't all the billionaires live here? Instead of winners we ended up with barrow boys, spivs, spruikers, used car salesmen and the criminals UK wanted to get rid of. Thank your tenant for her largess. Thats a f#cken stupid argument ... name one country anywhere on this planet (or any other if you are so inclined) where all the worlds millionaires live? Elysium

Is that why Clive's gone so quiet lately? He's moved there?

I've been having a few chats in the last 2-3 months about going back into the Australia housing market.

What I was thinking was to borrow against the property I have in the UK, using the 2.5% interest rates and investing in homes in popular resort places in Queensland.
Maybe Gold Coast or Sunshine Coast.

The exchange rate of 1.85 to the £ and low interest rates, plus Australia's overseas investment friendly rules suggest to me this isn't bad time?

Andrei.Hicks wrote on Feb 18^th, 2014 at 8:57pm:

I've been having a few chats in the last 2-3 months about going back into the Australia housing market. What I was thinking was to borrow against the property I have in the UK, using the 2.5% interest rates and investing in homes in popular resort places in Queensland. Maybe Gold Coast or Sunshine Coast. The exchange rate of 1.85 to the £ and low interest rates, plus Australia's overseas investment friendly rules suggest to me this isn't bad time?

You ain't gonna get an interest rate at 2.5% here.  Maybe you intend to borrow from a Pommie bank.  That sort of suggests you'll need FIRB approval, which ought be no real problem.

What would you do with said property?

No I wouldn't borrow in Australia.

I have property in UK which I would borrow against in the UK where I can get 2.55%.
I'd then invest that into property for Gold Coast for tenants.

I get lot more for money in AUS and don't pay the high interest rates?
It's what my dad did for years.

I spoke with Aussie investment advisor and my UK bank and I don't see issues.

Andrei.Hicks wrote on Feb 18^th, 2014 at 9:06pm:

No I wouldn't borrow in Australia. I have property in UK which I would borrow against in the UK where I can get 2.55%. I'd then invest that into property for Gold Coast for tenants. I get lot more for money in AUS and don't pay the high interest rates? It's what my dad did for years. I spoke with Aussie investment advisor and my UK bank and I don't see issues.

Blaze away then.  Personally, I'd go Sunshine Coast............beachside, and hope like hell that the global warming people are talking crap and the tide does not invade.  Beachside here means.........beachside.

That'd cost around at least an aussie million. Hard to rent because you'd need to ask more than the locals would pay.  You'd need a corporate rental connection.

Sunshine Coast is potential but I was thinking Townsville.
Young families, growing population and good value for money on the revamped strand.
Plus in laws can pop around and give me a real view of how the property is being kept.

I've got a few in mind though - Tweed Heads, Benowa, Miami Beach, Strand, Port Douglas etc


In short though I think my overall view is Australia's real estate is in good shape.

Aussie wrote on Feb 18^th, 2014 at 9:17pm:

Personally, I'd go Sunshine Coast............beachside, and hope like hell that the global warming people are talking crap and the tide does not invade.  Beachside here means.........beachside.

and on the Gold Coast it means?


Andrei.Hicks wrote on Feb 18^th, 2014 at 9:50pm:

I've got a few in mind though - Tweed Heads, Benowa, Miami Beach, Strand, Port Douglas

all good choices ... GC has the highest rental rates in all of Qld .. much better potential to maximise your profits .. although you might wish to move quickly .. prices  are on the move and they are moving quickly

John Smith wrote on Feb 18^th, 2014 at 10:03pm:

Aussie wrote on Feb 18th, 2014 at 9:17pm: Personally, I'd go Sunshine Coast............beachside, and hope like hell that the global warming people are talking crap and the tide does not invade.  Beachside here means.........beachside. and on the Gold Coast it means? Andrei.Hicks wrote on Feb 18th, 2014 at 9:50pm: I've got a few in mind though - Tweed Heads, Benowa, Miami Beach, Strand, Port Douglas all good choices ... GC has the highest rental rates in all of Qld .. much better potential to maximise your profits .. although you might wish to move quickly .. prices  are on the move and they are moving quickly

Ah - the 'tsunami zone'... waves rush in, suck the scum from the streets, and drag back all the sand and bulldust the GC is built on.... including the towers known as the gravestones..... the streets are swept clean, but the stench remains... the stench of decay and corruption only equalled by stench of the tinea wrought by white shoes....

http://www.youtube.com/watch?v=wU4OXvxpeNM

Andrei.Hicks wrote on Feb 18^th, 2014 at 8:57pm:

I've been having a few chats in the last 2-3 months about going back into the Australia housing market. What I was thinking was to borrow against the property I have in the UK, using the 2.5% interest rates and investing in homes in popular resort places in Queensland. Maybe Gold Coast or Sunshine Coast. The exchange rate of 1.85 to the £ and low interest rates, plus Australia's overseas investment friendly rules suggest to me this isn't bad time?

The other thing to remember is that with the Commonwealth Games coming to the Gold Coast in 2018, now is a good time to get into the market with a view to sell perhaps late 2017, especially if you can get some nice rental properties near the games village (Parklands).

Parklands is also very close to the new hospital and Grffith Uni so if you are looking longer term, you'll still have high demand for rentals in the area after the games.

Lovely grappler.
I hope you work in a marketing division.

Grappler Truth Teller Feller wrote on Feb 18^th, 2014 at 10:08pm:

John Smith wrote on Feb 18th, 2014 at 10:03pm: Aussie wrote on Feb 18th, 2014 at 9:17pm: Personally, I'd go Sunshine Coast............beachside, and hope like hell that the global warming people are talking crap and the tide does not invade.  Beachside here means.........beachside. and on the Gold Coast it means? Andrei.Hicks wrote on Feb 18th, 2014 at 9:50pm: I've got a few in mind though - Tweed Heads, Benowa, Miami Beach, Strand, Port Douglas all good choices ... GC has the highest rental rates in all of Qld .. much better potential to maximise your profits .. although you might wish to move quickly .. prices  are on the move and they are moving quickly Ah - the 'tsunami zone'... waves rush in, suck the scum from the streets, and drag back all the sand and bulldust the GC is built on.... including the towers known as the gravestones..... the streets are swept clean, but the stench remains... the stench of decay and corruption only equalled by stench of the tinea wrought by white shoes....

perhaps you should stick to the sunshine coast?

Fair point John, the Games is a big attraction for the GC investment.
I need to move sooner though obviously.

Got a meet next week when I get back and I'll see what I've got to play with.

£480k gets me A$870k or so. I think that's my top limit.
Doesn't even need to be a house. This is purely investment, not living for me.

Andrei.Hicks wrote on Feb 18^th, 2014 at 10:09pm:

Lovely grappler. I hope you work in a marketing division.

I'm working for Holidays In Baghdad right now...

Tired of the same worn-out old holiday sites?  had enough of Gay Mardi Gras in every capital of the world?  Come to where there is NO Mardi Gras!  For YOUR next holiday break - visit Baghdad... take part in outdoor sports with friendly locals... see spectacular fireworks displays every night... meet and shake hands with a REAL suicide bomber!

Baghdad.. it's a blast!

Andrei.Hicks wrote on Feb 18^th, 2014 at 10:12pm:

Fair point John, the Games is a big attraction for the GC investment. I need to move sooner though obviously. Got a meet next week when I get back and I'll see what I've got to play with. £480k gets me A$870k or so. I think that's my top limit. Doesn't even need to be a house. This is purely investment, not living for me.

plenty ... you should be able to find heaps around for that price ... good time to jump into the market now with that price range too as it hasn't started moving up as much as the lower price ranges, yet, although that's only a matter of time.

Grappler Truth Teller Feller wrote on Feb 18^th, 2014 at 10:15pm:

Andrei.Hicks wrote on Feb 18th, 2014 at 10:09pm: Lovely grappler. I hope you work in a marketing division. I'm working for Holidays In Baghdad right now... Tired of the same worn-out old holiday sites?  had enough of Gay Mardi Gras in every capital of the world?  Come to where there is NO Mardi Gras!  For YOUR next holiday break - visit Baghdad... take part in outdoor sports with friendly locals... see spectacular fireworks displays every night... meet and shake hands with a REAL suicide bomber! Baghdad.. it's a blast!

Here you go grappler ... $50 night .... talk about value
http://travel.yahoo.com/p-hotel-485567-baghdad_hotels-i

Andrei.Hicks wrote on Feb 18^th, 2014 at 8:57pm:

I've been having a few chats in the last 2-3 months about going back into the Australia housing market. What I was thinking was to borrow against the property I have in the UK, using the 2.5% interest rates and investing in homes in popular resort places in Queensland. Maybe Gold Coast or Sunshine Coast. The exchange rate of 1.85 to the £ and low interest rates, plus Australia's overseas investment friendly rules suggest to me this isn't bad time?

yes you should borrow as much as you can and buy as many dumps in australia as you can because we are always told that property only ever goes up in price and there is no such thing as a property bubble in australia. These are only things that happen in other countries ;)

Grappler Truth Teller Feller wrote on Feb 18^th, 2014 at 10:15pm:

Andrei.Hicks wrote on Feb 18th, 2014 at 10:09pm: Lovely grappler. I hope you work in a marketing division. I'm working for Holidays In Baghdad right now... Tired of the same worn-out old holiday sites?  had enough of Gay Mardi Gras in every capital of the world?  Come to where there is NO Mardi Gras!  For YOUR next holiday break - visit Baghdad... take part in outdoor sports with friendly locals... see spectacular fireworks displays every night... meet and shake hands with a REAL suicide bomber! Baghdad.. it's a blast!

I hope all of that Freedom and Democracy was worth it ;)

Andrei.Hicks wrote on Feb 18^th, 2014 at 9:50pm:

Sunshine Coast is potential but I was thinking Townsville. Young families, growing population and good value for money on the revamped strand. Plus in laws can pop around and give me a real view of how the property is being kept. I've got a few in mind though - Tweed Heads, Benowa, Miami Beach, Strand, Port Douglas etc In short though I think my overall view is Australia's real estate is in good shape.

How about Geelong ? Joints will be very cheap and it should resemble Detroit very soon. The headquarters of GMC !!!

I've already put together a promotion package for Geelong...

http://www.ozpolitic.com/forum/YaBB.pl?num=1392692734/15#15

The Revolution are planning to compensate overseas property hoarders to the tune of one cent in the dollar for resumption of their properties - only if they are kept in top notch conditions so they can be turned over to the unemployed........

Laugh till you cry wrote on Feb 18^th, 2014 at 12:44am:

ian wrote on Feb 18th, 2014 at 12:09am: Laugh till you cry wrote on Feb 18th, 2014 at 12:00am: If Australia is so lucky why don't all the billionaires live here? why doesnt everyone live here?  Silly question if you think about it. Quality of life is not necassarily based on money, thats the point. If it was our median house price would be 100 million bucks. Housing is dirt cheap here for what it is. If you want to live among whingeing closet poms who have lost their way and their genetic heritage and are now becoming adept at digging holes in the ground you have come to the right place. Go elsewhere if you want culture and intelligent company, including Japan. Have a good whinge here Ian and get it off your chest.

Im not complaining. I realise how lucky I am. You appear to be the one doing the whinging. why dont you go and live in India, plenty of billionares there. Lots of cheap housing too.

Could always live here in Tenerife.

Weather is pleasant, the Atlantic is deep blue but bugger me, what do you do all year round???

ian wrote on Feb 18^th, 2014 at 11:34pm:

Laugh till you cry wrote on Feb 18th, 2014 at 12:44am: ian wrote on Feb 18th, 2014 at 12:09am: Laugh till you cry wrote on Feb 18th, 2014 at 12:00am: If Australia is so lucky why don't all the billionaires live here? why doesnt everyone live here?  Silly question if you think about it. Quality of life is not necassarily based on money, thats the point. If it was our median house price would be 100 million bucks. Housing is dirt cheap here for what it is. If you want to live among whingeing closet poms who have lost their way and their genetic heritage and are now becoming adept at digging holes in the ground you have come to the right place. Go elsewhere if you want culture and intelligent company, including Japan. Have a good whinge here Ian and get it off your chest. Im not complaining. I realise how lucky I am. You appear to be the one doing the whinging. why dont you go and live in India, plenty of billionares there. Lots of cheap housing too.

You are another sad victim of the lucky country syndrome like car workers who are about to become permanently unemployed. Too busy counting your lucky stars to see the economic steamroller that's about to rob you of one dimension.

Andrei.Hicks wrote on Feb 18^th, 2014 at 11:38pm:

Could always live here in Tenerife. Weather is pleasant, the Atlantic is deep blue but bugger me, what do you do all year round???

You asked for it. Will they buy you dinner?

Andrei.Hicks wrote on Feb 18^th, 2014 at 11:38pm:

Could always live here in Tenerife. Weather is pleasant, the Atlantic is deep blue but bugger me, what do you do all year round???

Ahh - the peaceful ambience.. the quiet, the solitude.. the 747s crashing into each other in the fog.. it all brings back memories.....

You fly into Aeroporto Tenerife Sur these days as a result of that crash.
It's at sea level and rarely fogs.

Andrei.Hicks wrote on Feb 18^th, 2014 at 8:57pm:

I've been having a few chats in the last 2-3 months about going back into the Australia housing market. What I was thinking was to borrow against the property I have in the UK, using the 2.5% interest rates and investing in homes in popular resort places in Queensland. Maybe Gold Coast or Sunshine Coast. The exchange rate of 1.85 to the £ and low interest rates, plus Australia's overseas investment friendly rules suggest to me this isn't bad time?

Who cares?

Go to sleep smackhead

Andrei.Hicks wrote on Feb 19^th, 2014 at 3:12am:

Go to sleep smackhead

Where's the threat??

Andrei.Hicks wrote on Feb 19^th, 2014 at 2:58am:

You fly into Aeroporto Tenerife Sur these days as a result of that crash. It's at sea level and rarely fogs.

Damn - there goes the budget for airport fire services....

Actually I've considered Tenerife, Andrei - as perhaps part of my backpacker chain.... I'm a little different from many though - I prefer peace.

Redmond Neck wrote on Feb 15^th, 2014 at 8:02am:

This guys prophecy of impending doom in the real estate market has got me wondering what actually happens to existing mortgages if suddenly house prices crash by say 30%.

Americans have an oversupply of under-priced houses, we've got an under-supply of overpriced houses. A big difference. And their home prices might have peaked 10% higher, ours are as much as 10X what they should be (they had a housing price balloon, we've got a Hindenburg).


Quote:

Will the banks be able to suddenly demand large increases in mortgage repayments as i think happened in America resulting in lots of forclosures?

As long as there is a housing shortage there won't be a big collapse in prices.  And it's more likely that we end up with runaway inflation, which means easier repayments for those on fixed mortgages rates.


Quote:

This is very likely I think as I think most new home buyers are borrowing far too much relative to their ability to repay!

It's part of the Aussie rules to pay too much for everything. Rupert Murdoch, for example, paid too much for just about everything he bought. Lucky for him that he'd predicted a favorable trend and had caught the right wave.


Quote:

Nightmare vision of impending property crash American economist and demographer Harry S Dent jnr says there is a bubble in Australian house prices and we should brace ourselves for a spectacular collapse starting this year.

I'd predicted back in 98 that we would have a housing price collapse within 5 years, boy was I wrong. We got this massive price hike instead. My mistake was in underestimating just how stupid the Aussie sheeple really are.

Quote:

Dent is in Australia to speak at seminars and to promote his book, “The Demographic Cliff”. He says that house prices are unsustainable and will fall by at least 27 per cent in Sydney and Melbourne over the next several years.     Your real estate is so high it has to come down. Dent told Money in a video interview that the trigger for the collapse of Australia's house price bubble will be the bursting of the Chinese house bubble. How high can property go? Dent says Sydney and Melbourne property markets are being held up by foreign buyers and that cannot last forever. “China has a bubble [in house prices] that makes Australia's look like nothing,” he says. “I think China's bubble is going to burst and I cannot see any way that Australian property prices can keep going up," he says. If his forecasts do not come true it will be because governments “wave the magic wand and kick the can down the road again”. The Reserve Bank of Australia and most Australian economists say there is no bubble in Australian house prices. But Dent is sticking to his guns. “Nobody in real estate development or government can afford to say that 'we have got a bubble',” he says. “They will always say it is not a bubble”. But what of our special factors - we are a very large country with a unique economy and most of the population concentrated in a few conurbations - don't they count against the general rules for bubbles and their ending. Dent says he has studied every bubble in history and every time a bubble comes whether it is in tulip bulbs, gold, stocks or housing they are always described by those on the inside as being different, and unlikely to burst. “I am saying that China has the biggest [bubble] and that is going to trigger [the bursting of] your bubble. Your real estate is so high it has to come down in the next few years." Read more: http://www.theage.com.au/money/investing/nightmare-vision-of-impending--property-crash-20140213-32kl2.html#ixzz2tKqUO3JW

Dent's an American, and they are freedom loving people who don't like getting ripped-off, unlike us. And what happens is, like sheep, the Aussies all huddle together in a corner too scared to move out across the paddock. Consequently prices in that 'corner' are going to be staying high. 

Laugh till you cry wrote on Feb 18^th, 2014 at 11:51pm:

[ You are another sad victim of the lucky country syndrome like car workers who are about to become permanently unemployed. Too busy counting your lucky stars to see the economic steamroller that's about to rob you of one dimension.

grow up. Ive seen tougher times than you can imagine. when you grow some hair on your balls you may understand.