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The Great Australian Property Swindle

The Great Australian Property Swindle

Old Apr 21st 2011, 9:12 am
  #991  
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Default Re: The Great Australian Property Swindle

Originally Posted by DownUnderPaddy
whaaa ??? I thought the median unit price for Glen Waverley was about the 500k mark ?

420 would be a super duper deal for certain. Grab that for sure !
it is, when i say 420 i am being optimitstic and it would be a 2 bed unit.
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Old Apr 21st 2011, 9:24 am
  #992  
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Default Re: The Great Australian Property Swindle

Originally Posted by Margaret3
it is, when i say 420 i am being optimitstic and it would be a 2 bed unit.
Bundles of karma being shipped your way..
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Old Apr 29th 2011, 2:06 pm
  #993  
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Smile Re: The Great Australian Property Swindle

Thought I better get this in before anyone else does:

A well-known housing market pessimist says recent small falls in Australian house prices may prelude bigger drops, as occurred in the US.

The latest home value index from RP Data and Rismark shows that home prices in Australia's capital cities slipped 0.2 per cent in March, 2.1 per cent in the March quarter, and 0.6 per cent over the past 12 months, with non-metropolitan prices having similar declines.

Associate Professor Steve Keen from the University of Western Sydney, who had a famous bet with another economist on house prices falling, says financial crisis-related weakness in the Australian housing market was simply delayed by the Federal Government's First Home Owners Boost, which increased the grant to first time buyers from $7,000 to between $14,000-$21,000.
(Source).
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Old Apr 29th 2011, 2:47 pm
  #994  
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Smile Re: The Great Australian Property Swindle

Where did this global real estate obsession come from in the first place? It occurs to me we are very well stocked on land and builders in this part of the world, there isn't a population boom, most rises took place long before floods and fires...
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Old Apr 29th 2011, 10:45 pm
  #995  
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Default Re: The Great Australian Property Swindle

Originally Posted by Vash the Stampede
Thought I better get this in before anyone else does:



(Source).
This school of economics is a bit like a truck load of monkeys coming up with Beathovens fifth - if you give them long enough (and a piano).
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Old Apr 30th 2011, 1:39 am
  #996  
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Cool Re: The Great Australian Property Swindle

Originally Posted by Charismatic
Where did this global real estate obsession come from in the first place? It occurs to me we are very well stocked on land and builders in this part of the world, there isn't a population boom, most rises took place long before floods and fires...
Don't use language like that, it upsets the doom merchants.

Originally Posted by harrip
This school of economics is a bit like a truck load of monkeys coming up with Beathovens fifth - if you give them long enough (and a piano).
Well said!
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Old Apr 30th 2011, 5:03 am
  #997  
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Smile Re: The Great Australian Property Swindle

Originally Posted by Vash the Stampede
Originally Posted by Charismatic
Where did this global real estate obsession come from in the first place? It occurs to me we are very well stocked on land and builders in this part of the world, there isn't a population boom, most rises took place long before floods and fires...
Don't use language like that, it upsets the doom merchants.
It just seems like there are economic cycles which are related to the whole economy, there are booms followed by busts in specific sectors of the economy (Tulip mania, .com companies, South seas bubble etc.) but real estate seems to have become a strange obsessive cultural phenomenon even in places where house prices have fallen and are falling. When the .com bubble burst and black monday happened people knew that the game was over, but with real estate people are still buying in 3 years after it was clear the game was over (about 2007?).

Western culture just can't get enough of the wooden/brick boxes and spends all the spare fruit of its labour on one thing. We don't want to invest in shares, bonds or start businesses...we want more houses .
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Old May 7th 2011, 10:33 pm
  #998  
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Default Re: The Great Australian Property Swindle

Saw this one this morning.

http://theage.domain.com.au/real-est...507-1ecv2.html

Although it has probably been affected by the slump I would also suggest that it is a bit ugly.

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Old May 7th 2011, 11:03 pm
  #999  
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Default Re: The Great Australian Property Swindle

Originally Posted by Rambi
Saw this one this morning.

http://theage.domain.com.au/real-est...507-1ecv2.html

Although it has probably been affected by the slump I would also suggest that it is a bit ugly.

http://images.theage.com.au/2011/05/..._729-420x0.jpg
Yuck - $30 million for that? Looks like a posh toilet block
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Old May 7th 2011, 11:52 pm
  #1000  
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Default Re: The Great Australian Property Swindle

Originally Posted by IndieG
Yuck - $30 million for that? Looks like a posh toilet block
Really. Too ugly for words.
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Old May 8th 2011, 12:29 am
  #1001  
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Default Re: The Great Australian Property Swindle

Beauty is in the eye of the beholder, from the one photo I think it could be quite nice in a different setting. On an unrelated note, check out this place in Dublin I saw listed this week...

http://www.irishtimes.com/newspaper/...296137093.html
I love it. Even if it might be out of place.

Edit: full ad here... http://www.myhome.ie/residential/bro...leogue/1376152

Last edited by Steve2009; May 8th 2011 at 12:39 am.
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Old May 8th 2011, 12:49 am
  #1002  
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Default Re: The Great Australian Property Swindle

Originally Posted by Steve2009
Beauty is in the eye of the beholder, from the one photo I think it could be quite nice in a different setting. On an unrelated note, check out this place in Dublin I saw listed this week...

http://www.irishtimes.com/newspaper/...296137093.html
I love it. Even if it might be out of place.

Edit: full ad here... http://www.myhome.ie/residential/bro...leogue/1376152
The different setting would be next to a railway station as a car park
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Old May 8th 2011, 12:50 am
  #1003  
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Default Re: The Great Australian Property Swindle

Originally Posted by Rambi
The different setting would be next to a railway station as a car park
Or maybe 1960s Russia.

FYI... http://threetowers.com.au/
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Old May 8th 2011, 2:29 am
  #1004  
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Default Re: The Great Australian Property Swindle

Originally Posted by Steve2009
Beauty is in the eye of the beholder, from the one photo I think it could be quite nice in a different setting. On an unrelated note, check out this place in Dublin I saw listed this week...

http://www.irishtimes.com/newspaper/...296137093.html
I love it. Even if it might be out of place.

Edit: full ad here... http://www.myhome.ie/residential/bro...leogue/1376152
Or check these out, my aunt's house that they bought a couple of months ago in California and probably cost them less than a tenth of the asking price for that monstrosity in Toorak!

No wonder I don't feel like buying anything here...lol
Attached Thumbnails The Great Australian Property Swindle-n-house1.jpg   The Great Australian Property Swindle-n-house2.jpg   The Great Australian Property Swindle-new-house.jpg  
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Old May 8th 2011, 3:36 am
  #1005  
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Default Re: The Great Australian Property Swindle

Originally Posted by IndieG
Or check these out, my aunt's house that they bought a couple of months ago in California and probably cost them less than a tenth of the asking price for that monstrosity in Toorak!

No wonder I don't feel like buying anything here...lol
California is a fantastic place to live.

You should move there to find your dream home.
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