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Australian Economy: Do you think the government now has its head out of the sand?

Australian Economy: Do you think the government now has its head out of the sand?

Old Jan 16th 2009, 10:08 am
  #76  
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Default Re: Australian Economy: Do you think the government now has its head out of the sand?

Greed is a word that seems to be spat out regularly with regard to house prices. However, it makes basic commonsense for people to try to get as much money as possible for their house. Call me greedy, but I intend getting every penny I can for mine, safe in the knowledge that the vendor will be doing the same for the property I buy! Sorry, gone off topic a bit.
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Old Jan 16th 2009, 10:13 am
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Default Re: Australian Economy: Do you think the government now has its head out of the sand?

Originally Posted by Lorrielou
Greed is a word that seems to be spat out regularly with regard to house prices. However, it makes basic commonsense for people to try to get as much money as possible for their house. Call me greedy, but I intend getting every penny I can for mine, safe in the knowledge that the vendor will be doing the same for the property I buy! Sorry, gone off topic a bit.
Of course but there is a difference (slight but significant) between your one house and a property portfolio.
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Old Jan 16th 2009, 10:14 am
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Default Re: Australian Economy: Do you think the government now has its head out of the sand?

Originally Posted by Lorrielou
Greed is a word that seems to be spat out regularly with regard to house prices. However, it makes basic commonsense for people to try to get as much money as possible for their house. Call me greedy, but I intend getting every penny I can for mine, safe in the knowledge that the vendor will be doing the same for the property I buy! Sorry, gone off topic a bit.
true.....but then you can't really blame buyers for trying to get the best possible deal either.......you can't both win

G
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Old Jan 16th 2009, 10:28 am
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Default Re: Australian Economy: Do you think the government now has its head out of the sand?

Originally Posted by Grayling
true.....but then you can't really blame buyers for trying to get the best possible deal either.......you can't both win

G
Absolutely agree, it is a two-way thing and I wouldn't blame anyone for doing it to us (though would prefer they didn't, buy hey-ho).
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Old Jan 16th 2009, 10:29 am
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Default Re: Australian Economy: Do you think the government now has its head out of the sand?

Originally Posted by Lorrielou
Greed is a word that seems to be spat out regularly with regard to house prices. However, it makes basic commonsense for people to try to get as much money as possible for their house. Call me greedy, but I intend getting every penny I can for mine, safe in the knowledge that the vendor will be doing the same for the property I buy! Sorry, gone off topic a bit.
Good point, anyone would do the same (I know I would and have done).

Human nature being what it is, regulation is needed to make sure it doesn't all get out of hand, and govts need to make sure the rules and vested interests don't encourage market distortion.

Strangely, I've been looking at houses in Cheltenham recently and getting very depressed!
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Old Jan 16th 2009, 10:34 am
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Default Re: Australian Economy: Do you think the government now has its head out of the sand?

Strangely, I've been looking at houses in Cheltenham recently and getting very depressed![/QUOTE]


I can offer a 1920's 4 bed detached in a lovely established area (2 miles from GCHQ) early next year if you're interested! Ignore my earlier post, we would offer it at a reasonable price!
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Old Jan 16th 2009, 10:37 am
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Default Re: Australian Economy: Do you think the government now has its head out of the sand?

Originally Posted by Lorrielou
I can offer a 1920's 4 bed detached in a lovely established area (2 miles from GCHQ) early next year if you're interested! Ignore my earlier post, we would offer it at a reasonable price!
Lorraine
Sounds like just what we're looking for, but I can only offer you about 60% of what you'd like to get for it
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Old Jan 16th 2009, 10:56 am
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Default Re: Australian Economy: Do you think the government now has its head out of the sand?

Originally Posted by Exile
Sounds like just what we're looking for, but I can only offer you about 60% of what you'd like to get for it
How the hell did we get from the Australian government's ostrich mentality to you two stitching up a deal?
As owner of this thread I expect a real estate commission - forget all I said earlier about greed.
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Old Jan 16th 2009, 10:58 am
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Default Re: Australian Economy: Do you think the government now has its head out of the sand?

Originally Posted by Lorrielou
I can offer a 1920's 4 bed detached in a lovely established area (2 miles from GCHQ) early next year if you're interested! Ignore my earlier post, we would offer it at a reasonable price!
Lorraine
Lorrielou - can you reinforce the negatives of Cheltenham and England generally to Exile please.
Why are you leaving? Give it to us in gory detail...

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Old Jan 16th 2009, 11:08 am
  #85  
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Default Re: Australian Economy: Do you think the government now has its head out of the sand?

Originally Posted by NKSK version 2
Lorrielou - can you reinforce the negatives of Cheltenham and England generally to Exile please.
Why are you leaving? Give it to us in gory detail...
To do so might jeopardise the sale
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Old Jan 16th 2009, 12:25 pm
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Default Re: Australian Economy: Do you think the government now has its head out of the sand?

Have to say this, and I do mean it (honestly) Cheltenham is actually a fab place though a bit snobby about it's neighbour Gloucester, but there you go.
For us, it's not Chelters were fed up with, more the life that we're living in the UK - you know, the usual, too much work not enough family time etc. In fact, pick up our area/house and put it in Melbourne and we'd be happy as pigs in poo. Oh and we'd like to take some (not all!) family with us too if that can be arranged.

Ref 60% of asking price, we will be asking £1m, so whats 60% of that. OK it's not worth that, but it's worth a try!
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Old Jan 16th 2009, 12:31 pm
  #87  
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Default Re: Australian Economy: Do you think the government now has its head out of the sand?

Originally Posted by geordie downunder
After 9/11 and the Greenspan put option came into being (just borrow and spend,Al will keep cutting interest rates) there was a lot of doom and gloom.The world was headed for a deflationary disaster.Nobody would ever buy anything ,they would just keep waiting for prices to fall.This was around early 2003 when the screaming was at the loudest.Followed by the 3-4 best ever yrs and of course the worst ever year for markets.

Boom bust is the normal cycle,I don't think it will ever change,fear and greed are the two strongest emotions.As you've seen on the board when prices are rising everybody rushes in and keeps buying,prices are never going to stop rising.Greed is in total control,all they see is $$$.Buy gold it hit, $1000 last week,rent is dead money etc.Negative gearing is great,tax back.

When prices fall they never buy,look how much it has fallen.When prices rise they buy,look how much it has gone up.The money tree is planted in a recession when prices are cheap and interest rates are low,it is harvested when prices are high and rates rise,the old economic clock..

While unemployment is still low and nowhere near the levels of 74-77 ,82-84 and 90-92 the fear is the killer.An unemployment rate of 12% was a disaster for those 120 people per thousand that had no job.However it still means that980 per thousand were still working.The fear means that probably 50% of those people will be worried sick that it might be their turn next week.So money is hoarded.

One day the fear will end and normality will return,money will begin to be spent and the greed cycle starts again,fear is banished.Companies will try to keep turning over if it means they can pay bills and payroll,some bargains will tempt people back.

We'll have a bit of peace for a while from the people who complain non stop how any company making a profit must be ripping people off,profits produce employment,losses produce closures and unemployment.

When things get better they will be back,5 mins is usually enough time for people to forget each cycle.Tulip booms will always exist whether it is tulips,internet stocks,or resources.The name changes,the end product is still the same.
Good stuff. But national governments must be able to put in place a landscape that controls the boom to avoid the bust. Germany did it very well post-war until the re-absorption of the east screwed things up. For all the reasons to hate Blairite UK (ie gulf war) that labour government did a fair job of controlling inflation via ceding control of interest rates to the BoE.

Greed is a natural phenomenon, but making directors earn bonuses for the next few years performance rather than one year or on non-economic measures COULD work.
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Old Jan 20th 2009, 1:44 am
  #88  
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Default Re: Australian Economy: Do you think the government now has its head out of the sand?

Apropos the thread title...(from The Age today):

Bad news must be told
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