The parallels between what happened in Ireland and what is currently happening in Australia regarding real estate is frightening ! A whole generation of Irish youth has had their future stolen from them by the excesses of greedy property hoarders, speculators, foreign investors, greedy crooked banks and of course crooked politicians that encouraged it all. Sound familiar ?

You judge for yourself and see if you think I am talking through my hat when I say that Australia is gearing itself up to fail big time and a whole new generation is about to have their futures robbed from them and will have to pay for decades to come for the excesses of others that they had no part of :(

http://www.youtube.com/watch?v=fiCXsu_4BoA

The resemblance to Australia is even more uncanny in this doco. You've got to see it to believe it. Ireland is like a mirror image of Australia !! Ireland lost manufacturing jobs to a property bubble. Developers and banks lobbied the government to get special tax breaks. Government made a fortune in taxes etc etc :(

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

many blessings ,

its a bubble full of $%^#

may dupes speculate on the stockmarket

and bet upon as much

and so it is so be it

namaste

- : ) =

ॐ

Where's all of the property spruikers on this forum ?

Maybe they don't want to see the carnage that their ilk is about to cause. :(

Bubblehead.

Sir lastnail wrote on Feb 19^th, 2014 at 10:49am:

Where's all of the property spruikers on this forum ? Maybe they don't want to see the carnage that their ilk is about to cause. :(

not sure if you realise it but Ireland and Australia are many thousands of miles apart with totally different market forces ... but nice try

Sir lastnail wrote on Feb 19^th, 2014 at 10:49am:

Where's all of the property spruikers on this forum ? Maybe they don't want to see the carnage that their ilk is about to cause. :(

Or perhaps we dont want to watch youtubes

SOB

John Smith wrote on Feb 19^th, 2014 at 10:52am:

Sir lastnail wrote on Feb 19th, 2014 at 10:49am: Where's all of the property spruikers on this forum ? Maybe they don't want to see the carnage that their ilk is about to cause. :( not sure if you realise it but Ireland and Australia are many thousands of miles apart with totally different market forces ... but nice try

Yeh and they also speak differently to aussies so that makes a big difference as well.

I knew you would come up with some lame bullshit excuse. It didn't take you long to wheel out the old "this time it is different" excuse.  I take it that you didn't actually watch the docos ?

And I forgot to add that Ireland also has 4 pillars of trash banking just like we have here :(

Sir Spot of Borg wrote on Feb 19^th, 2014 at 11:01am:

Sir lastnail wrote on Feb 19th, 2014 at 10:49am: Where's all of the property spruikers on this forum ? Maybe they don't want to see the carnage that their ilk is about to cause. :( Or perhaps we dont want to watch youtubes SOB

The people who don't want to watch those docos usually have got vested interests in property.

If you don't want to watch the docos then just watch it unfold in real time in Australia. The job losses in manufacturing is just the start of it. What happens next is documented in the videos ;)

Sir lastnail wrote on Feb 19^th, 2014 at 11:13am:

It didn't take you long to wheel out the old "this time it is different" excuse

but I didn't say this time it's different .. I said there are different market forces at play in Australia as compared to Ireland ....

what is it with you? you have what you think my arguments are already set in your head, and no matter what I write you run with your version of it?

John Smith wrote on Feb 19^th, 2014 at 11:45am:

Sir lastnail wrote on Feb 19th, 2014 at 11:13am: It didn't take you long to wheel out the old "this time it is different" excuse but I didn't say this time it's different .. I said there are different market forces at play in Australia as compared to Ireland .... what is it with you? you have what you think my arguments are already set in your head, and no matter what I write you run with your version of it?

different market forces. ;D LOL

Did you watch the videos ?

Sir lastnail wrote on Feb 19^th, 2014 at 11:59am:

John Smith wrote on Feb 19th, 2014 at 11:45am: Sir lastnail wrote on Feb 19th, 2014 at 11:13am: It didn't take you long to wheel out the old "this time it is different" excuse but I didn't say this time it's different .. I said there are different market forces at play in Australia as compared to Ireland .... what is it with you? you have what you think my arguments are already set in your head, and no matter what I write you run with your version of it? different market forces. ;D LOL Did you watch the videos ?

yes, different market forces

and

no, i don't care what your video's say ....

John Smith wrote on Feb 19^th, 2014 at 12:03pm:

Sir lastnail wrote on Feb 19th, 2014 at 11:59am: John Smith wrote on Feb 19th, 2014 at 11:45am: Sir lastnail wrote on Feb 19th, 2014 at 11:13am: It didn't take you long to wheel out the old "this time it is different" excuse but I didn't say this time it's different .. I said there are different market forces at play in Australia as compared to Ireland .... what is it with you? you have what you think my arguments are already set in your head, and no matter what I write you run with your version of it? different market forces. ;D LOL Did you watch the videos ? yes, different market forces and no, i don't care what your video's say ....

of course you don't care because "this time it's different" ;D LOL

I totally agree with you, the last nail. A huge property Tsunami is going to hit Australia like a 100 metre wave.

The ones who checked in last, in investing in the overinflated and overhyped property market, particularly in Sydney are going to be slammed.

My advice? Get out now. Take your profits and put them in blue chip, the wave is coming.

red baron wrote on Feb 19^th, 2014 at 5:56pm:

I totally agree with you, the last nail. A huge property Tsunami is going to hit Australia like a 100 metre wave. The ones who checked in last, in investing in the overinflated and overhyped property market, particularly in Sydney are going to be slammed. My advice? Get out now. Take your profits and put them in blue chip, the wave is coming.

and you base this on what exactly? The sarg at your local cop shop told you?

Sir lastnail wrote on Feb 19^th, 2014 at 12:10pm:

John Smith wrote on Feb 19th, 2014 at 12:03pm: Sir lastnail wrote on Feb 19th, 2014 at 11:59am: John Smith wrote on Feb 19th, 2014 at 11:45am: Sir lastnail wrote on Feb 19th, 2014 at 11:13am: It didn't take you long to wheel out the old "this time it is different" excuse but I didn't say this time it's different .. I said there are different market forces at play in Australia as compared to Ireland .... what is it with you? you have what you think my arguments are already set in your head, and no matter what I write you run with your version of it? different market forces. ;D LOL Did you watch the videos ? yes, different market forces and no, i don't care what your video's say .... of course you don't care because "this time it's different" ;D LOL

not sure why you persist with this stupid 'this time it's different' line... the fact that you continue to pretend that is my argument despite my telling you it isn't shows just how blinkered you are when it comes to this topic.  this time it's not different, it doesn't need to be ... Australia has never had a property bubble go bust and it is unlikely to in the forseeable future, that means everything is not different, it is the same as it always has been.

do you get it yet?

Nail is right & all you doubting Thomas's will repent one day.

Bobby. wrote on Feb 19^th, 2014 at 6:09pm:

Nail is right & all you doubting Thomas's will repent one day.

who's Thomas?

John Smith wrote on Feb 19^th, 2014 at 6:13pm:

Bobby. wrote on Feb 19th, 2014 at 6:09pm: Nail is right & all you doubting Thomas's will repent one day. who's Thomas?

Read your Bible.

John Smith wrote on Feb 19^th, 2014 at 6:07pm:

Sir lastnail wrote on Feb 19th, 2014 at 12:10pm: John Smith wrote on Feb 19th, 2014 at 12:03pm: Sir lastnail wrote on Feb 19th, 2014 at 11:59am: John Smith wrote on Feb 19th, 2014 at 11:45am: Sir lastnail wrote on Feb 19th, 2014 at 11:13am: It didn't take you long to wheel out the old "this time it is different" excuse but I didn't say this time it's different .. I said there are different market forces at play in Australia as compared to Ireland .... what is it with you? you have what you think my arguments are already set in your head, and no matter what I write you run with your version of it? different market forces. ;D LOL Did you watch the videos ? yes, different market forces and no, i don't care what your video's say .... of course you don't care because "this time it's different" ;D LOL not sure why you persist with this stupid 'this time it's different' line... the fact that you continue to pretend that is my argument despite my telling you it isn't shows just how blinkered you are when it comes to this topic.  this time it's not different, it doesn't need to be ... Australia has never had a property bubble go bust and it is unlikely to in the forseeable future, that means everything is not different, it is the same as it always has been. do you get it yet?

watch the videos and see the future of australia before it has happened ;)

see how you lot wreck countries and their economies with your property ponzi schemes :(

Bobby. wrote on Feb 19^th, 2014 at 6:16pm:

John Smith wrote on Feb 19th, 2014 at 6:13pm: Bobby. wrote on Feb 19th, 2014 at 6:09pm: Nail is right & all you doubting Thomas's will repent one day. who's Thomas? Read your Bible.

can't, i FINALLY FOUND A GOOD USE FOR IT AND IT IS HOLDING UP A SHELF, IF i REMOVE IT NOW THE SHELF WILL FALL.

Sir lastnail wrote on Feb 19^th, 2014 at 6:17pm:

watch the videos and see the future of australia before it has happened see how you lot wreck countries and their economies with your property ponzi schemes

so you got nothing apart from 'watch the video'? 

At least you stopped telling me that I think that this time it's different! ;D ;D

Can I see a blue nose sticking up over the parapet, wish I had bean bag gun handy!

I base it on history..the history of boom and bust in property is legion, do some reading. You can look it up yourself.

A lot of people think Sydney's property market is invincible, it ain't!

#

red baron wrote on Feb 19^th, 2014 at 6:22pm:

Can I see a blue nose sticking up over the parapet, wish I had bean bag gun handy!

what would you do with it? it's not like you could hit anything with it!

red baron wrote on Feb 19^th, 2014 at 6:22pm:

Can I see a blue nose sticking up over the parapet, wish I had bean bag gun handy! I base it on history..the history of boom and bust in property is legion, do some reading. You can look it up yourself. A lot of people think Sydney's property market is invincible, it ain't!

Smith refuses to acknowledge history so he is likely to repeat the mistakes of the past. Learn from others I say ;)

http://www.youtube.com/watch?v=fiCXsu_4BoA

Sir lastnail wrote on Feb 19^th, 2014 at 9:08pm:

Smith refuses to acknowledge history so he is likely to repeat the mistakes of the past. Learn from others I say

yes but just because someone is jailed for coming out for being gay in Russia, does that mean they shouldn't be honest about it in Australia ??

compare apples with apples and you may have a valid point, everything else is just a whinge

Sir lastnail wrote on Feb 19^th, 2014 at 10:49am:

Where's all of the property spruikers on this forum ? Maybe they don't want to see the carnage that their ilk is about to cause. :(

Don't blame the parasites when it's the host that is to responsible for the problem. Aussieland is a nation that encourages speculators. It's the Aussie's need to huddle together in existing cities (but not so close that he risks too much personal contact with his neighbors) that has resulted in an overpriced urban sprawl. Something the "investors" are just taking advantage of. The Governments too do the same thing when they sell 'our' land back to us at inflated prices.

And when we blame others what we are really doing is excusing ourselves of any obligation to make the changes needed to get the country moving in a better direction. When we point at someone else we are always pointing away from ourselves by default, is what I'm saying.

John Smith wrote on Feb 19^th, 2014 at 9:23pm:

Sir lastnail wrote on Feb 19th, 2014 at 9:08pm: Smith refuses to acknowledge history so he is likely to repeat the mistakes of the past. Learn from others I say yes but just because someone is jailed for coming out for being gay in Russia, does that mean they shouldn't be honest about it in Australia ??

Jailing gays in Russia is a desperation measure, there to suppress the 'X' factor. If we allow 'honesty' here, then our society will fail sooner than will Russia's.


Quote:

Compare apples with apples and you may have a valid point, everything else is just a whinge

John Smith wrote on Feb 19^th, 2014 at 9:23pm:

Sir lastnail wrote on Feb 19th, 2014 at 9:08pm: Smith refuses to acknowledge history so he is likely to repeat the mistakes of the past. Learn from others I say yes but just because someone is jailed for coming out for being gay in Russia, does that mean they shouldn't be honest about it in Australia ?? compare apples with apples and you may have a valid point, everything else is just a whinge

i think you are on the wrong thread ;)

Property in australia is cheap.

ian wrote on Feb 19^th, 2014 at 11:19pm:

Property in australia is cheap.

Genocide is morally expensive.

ian wrote on Feb 19^th, 2014 at 11:19pm:

Property in australia is cheap.

If you think so and it's about to get a whole lot cheaper. The USA hasn't had its real GFC yet, that's coming, it's just they forgot what caused the 2008 event.

ian it is if you want to live in Bourke, Sydney not so cheap huh?

#

thelastnail - Everyone who owns or wants to own property in Sydney should watch your video, it says it all.

@

The people who caused the GFC and scammed us with their BS that the low wage high corporate profit years of the 90s and 2000s were prosperous years (easily accessible but not necessarily cheap credit, mistaken for prosperity) are the same people lecturing us in this video about how to fix things (FOR THEM). If you want to back that horse again then you really are a fool.  Also. make no mistake, if you back that horse again it will definatly be the end of capitalism. The people dont have it in them to put up with another GFC and another GFC it will be when these people let loose the greed again.  Crap video 

Very interesting documentry!

While I do worry about the Australian property market being in a bubble, I think we are no where in as bad a situation as was Ireland before the bubble burst.

Firstly we dont have a massive building boom of housing by speculators. (Interestingly that was also what happened in Spain)

Also I dont think our banks are lending to all and sundry like in Ireland (and USA) where the borrowers are way in over their heads.

I do think something should be done to take pressure off the prices in places like Sydney, perhaps more land releases or a tightening up on the negative gearing lurk. Not that changes to Negative Gearing has any hope of happening as most politicians probably have their own snouts in that trough.

John Smith wrote on Feb 19^th, 2014 at 6:13pm:

Bobby. wrote on Feb 19th, 2014 at 6:09pm: Nail is right & all you doubting Thomas's will repent one day. who's Thomas?

The tank engine........

http://newandusedmodeltrains.com/wirrstore/wp-content/uploads/2011/12/thomas.jpg
There ya go señora  [smiley=vrolijk_26.gif] [smiley=thumbsup.gif]

Redmond Neck wrote on Feb 20^th, 2014 at 8:28am:

Very interesting documentry! While I do worry about the Australian property market being in a bubble, I think we are no where in as bad a situation as was Ireland before the bubble burst.

There wouldn't be a financial crisis resulting if our housing Hindenburg were to go down in flames, because our situation is a demand vs availability problem. And it's not cheap & easy credit causing an oversupply situation (as you've pointed out below). 


Quote:

Firstly we dont have a massive building boom of housing by speculators. (Interestingly that was also what happened in Spain)

Investors invest in new developments, speculators buy up overpriced existing buildings, splash some paint about and put them back on the market at even more inflated prices. These people are in effect parasites, because there is no net gain to the country involved in these type of transactions, there is only hardship being created. 


Quote:

Also I dont think our banks are lending to all and sundry like in Ireland (and USA) where the borrowers are way in over their heads.

No cheap mortgages in Aussieland, everything here is a rip-off.


Quote:

I do think something should be done to take pressure off the prices in places like Sydney, perhaps more land releases or a tightening up on the negative gearing lurk. Not that changes to Negative Gearing has any hope of happening as most politicians probably have their own snouts in that trough.

Sydney is already a sprawling mess, why make it worse. There is plenty of land in this country, and unlike Ireland it's not useful rural land. But the only way we are going to decentralize in an acceptable way is to get rid of the 'Aussie' influence out of government. It's our Aussiness that keeps us huddled together, combine that with the low ethical standards we'd expect from a bunch of ex-convicts, you get high prices (for everything).

Redmond Neck wrote on Feb 20^th, 2014 at 8:28am:

Very interesting documentry! While I do worry about the Australian property market being in a bubble, I think we are no where in as bad a situation as was Ireland before the bubble burst. Firstly we dont have a massive building boom of housing by speculators. (Interestingly that was also what happened in Spain) Also I dont think our banks are lending to all and sundry like in Ireland (and USA) where the borrowers are way in over their heads. I do think something should be done to take pressure off the prices in places like Sydney, perhaps more land releases or a tightening up on the negative gearing lurk. Not that changes to Negative Gearing has any hope of happening as most politicians probably have their own snouts in that trough.

We have the 100% loans just like they had in Ireland. Where my mother lives nearly every second house has been pulled down and usually two or more are built in its place.

I saw one joint that was pulled down that had recently been renovated not so long ago. Don't worry the debt fueled property binge is live and well here :(