House Prices Down under-another thread..
Mar 2nd 2008, 10:27 pm
#16
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Re: House Prices Down under-another thread..
Is SE QLD still on the up ?
Mar 2nd 2008, 10:35 pm
#17
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Re: House Prices Down under-another thread..
When people realise that everything of monetry value; by that i mean, everything you can buy with your currency, in our supersonic economic solar system; is valued against the cost that you can put on an hourly rate of human hard stinking sweat, by that i mean an hours/days/months/years pay, then you may realise you have been conned by thinking the value you paid, for that artifact, is way above the value of worth, with regards to the work you may need to put in, to earn the monetry value to pay for it?
Mar 2nd 2008, 10:40 pm
#18
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Re: House Prices Down under-another thread..
When people realise that everything of monetry value; by that i mean, everything you can buy with your currency, in our supersonic economic solar system; is valued against the cost that you can put on an hourly rate of human hard stinking sweat, by that i mean an hours/days/months/years pay, then you may realise you have been conned by thinking the value you paid, for that artifact, is way above the value of worth, with regards to the work you may need to put in, to earn the monetry value to pay for it?
I'm wondering when the property investors are going to start piling out of property. Surely hanging on to an asset that isn't appreciating any more and whose yield is less than the costs of holding it is financial madness. I think it's purely sentiment that is keeping the status quo at the moment.
Again just IMHO and only applicable to Perth right now but to all cities within the next year.
Mar 2nd 2008, 10:48 pm
#19
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Re: House Prices Down under-another thread..
When people realise that everything of monetry value; by that i mean, everything you can buy with your currency, in our supersonic economic solar system; is valued against the cost that you can put on an hourly rate of human hard stinking sweat, by that i mean an hours/days/months/years pay, then you may realise you have been conned by thinking the value you paid, for that artifact, is way above the value of worth, with regards to the work you may need to put in, to earn the monetry value to pay for it?
Mar 2nd 2008, 10:50 pm
#20
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Re: House Prices Down under-another thread..
Not necessarily conned, I realised my house wasn't "worth" what I paid for it despite that I still paid the "market value". We still need places to live but yes, totally overvalued in that regard.
I'm wondering when the property investors are going to start piling out of property. Surely hanging on to an asset that isn't appreciating any more and whose yield is less than the costs of holding it is financial madness. I think it's purely sentiment that is keeping the status quo at the moment.
Again just IMHO and only applicable to Perth right now but to all cities within the next year.
I'm wondering when the property investors are going to start piling out of property. Surely hanging on to an asset that isn't appreciating any more and whose yield is less than the costs of holding it is financial madness. I think it's purely sentiment that is keeping the status quo at the moment.
Again just IMHO and only applicable to Perth right now but to all cities within the next year.
Mar 2nd 2008, 10:52 pm
#21
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Re: House Prices Down under-another thread..
Sentiment - Drives markets in a skeward direction; sometimes sentiment could be described as pure and utter greed with regards to a gain of monetry value?
Now FEAR - that will cause a change in direction, Fear is also greed, but, to Fear the loss of the consequence of greed, a totallly new monster, which is raising its ugly no good head right as i typo this little ditto to yeh?
Now FEAR - that will cause a change in direction, Fear is also greed, but, to Fear the loss of the consequence of greed, a totallly new monster, which is raising its ugly no good head right as i typo this little ditto to yeh?
Mar 2nd 2008, 11:03 pm
#22
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Re: House Prices Down under-another thread..
I'm wondering when the property investors are going to start piling out of property. Surely hanging on to an asset that isn't appreciating any more and whose yield is less than the costs of holding it is financial madness. I think it's purely sentiment that is keeping the status quo at the moment.
Again just IMHO and only applicable to Perth right now but to all cities within the next year.
Again just IMHO and only applicable to Perth right now but to all cities within the next year.
When my parents arrived six weeks ago we had 5 houses in our street of about 12 houses on the market (plus ours!). these five houses had been up for sale since they were completed, so 12 months ago in most cases. by the end of last week all but one were sold, and for next to nothing really. a 4 x 2 on our estate in Dec 2006 you'd have had to pay $495K, the top price for these five houses was $380K!
makes you wonder how much the investors made given they've probably been paying a mortgage for 12 months on top of the investment of land and house...
Mar 2nd 2008, 11:11 pm
#23
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Re: House Prices Down under-another thread..
Anyway,
Back to the interesting sh!t, who recognizes the words in my signature, a little ditto written by someone i hold in a high regard!
Correct answers will be rewarded with a boat load of that lovely karma cr@p!
P.S.
Not myself included, as i have well below the cut off level in the account due to overspends on just having a f@cking great time in life, but if you have more, i mean more than the cut off level, well, maybe it's time to cut and run, or cut and enjoy life, because?
http://www.ft.com/cms/s/0/5fdff520-e...nclick_check=1
Back to the interesting sh!t, who recognizes the words in my signature, a little ditto written by someone i hold in a high regard!
Correct answers will be rewarded with a boat load of that lovely karma cr@p!
P.S.
Not myself included, as i have well below the cut off level in the account due to overspends on just having a f@cking great time in life, but if you have more, i mean more than the cut off level, well, maybe it's time to cut and run, or cut and enjoy life, because?
http://www.ft.com/cms/s/0/5fdff520-e...nclick_check=1
Last edited by brendarover; Mar 2nd 2008 at 11:26 pm.
Mar 2nd 2008, 11:23 pm
#24
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Re: House Prices Down under-another thread..
Radiohead: Creep?
Mar 2nd 2008, 11:26 pm
#25
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Joined: Sep 2002
Location: Ilukapool. WA
Posts: 12,467
Re: House Prices Down under-another thread..
Down here in the south west they have started pulling out.
When my parents arrived six weeks ago we had 5 houses in our street of about 12 houses on the market (plus ours!). these five houses had been up for sale since they were completed, so 12 months ago in most cases. by the end of last week all but one were sold, and for next to nothing really. a 4 x 2 on our estate in Dec 2006 you'd have had to pay $495K, the top price for these five houses was $380K!
makes you wonder how much the investors made given they've probably been paying a mortgage for 12 months on top of the investment of land and house...
When my parents arrived six weeks ago we had 5 houses in our street of about 12 houses on the market (plus ours!). these five houses had been up for sale since they were completed, so 12 months ago in most cases. by the end of last week all but one were sold, and for next to nothing really. a 4 x 2 on our estate in Dec 2006 you'd have had to pay $495K, the top price for these five houses was $380K!
makes you wonder how much the investors made given they've probably been paying a mortgage for 12 months on top of the investment of land and house...
Fantastic news for all first time buyers, those about to migrate to Perth, and all those wanting to "move up the ladder".
Makes you wonder why "house prices stagnating/falling" seems to be portrayed as "bad" news all the time.
Mar 2nd 2008, 11:33 pm
#27
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Re: House Prices Down under-another thread..
Depends if your looking long term or short term as an investment. We have two investment properties currently that as long as they are rented are costing us virtually nothing (the longest we have gone without a tenant is approx 1 week in 2 or 3 years on both properties). As long as someone else pays off the mortgage and we can get back what we paid we will be very happy come my retirement. We bought 1 property 3 years ago and the other just over 2 years ago for <$600k (combined) they are currently worth >$800k.
I will let you all know 20 years down the line how I did!
I will let you all know 20 years down the line how I did!
Mar 2nd 2008, 11:38 pm
#28
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Re: House Prices Down under-another thread..
Depends if your looking long term or short term as an investment. We have two investment properties currently that as long as they are rented are costing us virtually nothing (the longest we have gone without a tenant is approx 1 week in 2 or 3 years on both properties). As long as someone else pays off the mortgage and we can get back what we paid we will be very happy come my retirement. We bought 1 property 3 years ago and the other just over 2 years ago for <$600k (combined) they are currently worth >$800k.
I will let you all know 20 years down the line how I did!
I will let you all know 20 years down the line how I did!
Well,......... one thing is for certain, you do not need any lubricant, you have your investment properties, enjoy the sensation?
Mar 3rd 2008, 12:56 am
#29
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Location: Ilukapool. WA
Posts: 12,467
Re: House Prices Down under-another thread..
Sydney house prices in landslide
HOMEOWNERS in Sydney's outer suburbs have been losing as much as $450 a week every week since early 2004 on the value of their properties as the real story of mortgage belt misery begins to emerge.
http://www.news.com.au/business/mone...013951,00.html
HOMEOWNERS in Sydney's outer suburbs have been losing as much as $450 a week every week since early 2004 on the value of their properties as the real story of mortgage belt misery begins to emerge.
http://www.news.com.au/business/mone...013951,00.html
Mar 3rd 2008, 1:10 am
#30
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Posts: 146
Re: House Prices Down under-another thread..
So, what is the reasoning behind the high interest rates and the hikes?