News just in - man with vested interest says Perth property market recovering
#1
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News just in - man with vested interest says Perth property market recovering
"Australian Property Alliance (APA) managing director Paul Bitdorf said the Perth property market was starting to show signs of recovery, thanks to increased activity within the first-home buyer sector."
http://www.news.com.au/perthnow/stor...9-2761,00.html
Oh how I love Australian "news" stories.
http://www.news.com.au/perthnow/stor...9-2761,00.html
Oh how I love Australian "news" stories.
#2
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Re: News just in - man with vested interest says Perth property market recovering
i think they call this a "Fool's Paradise"!
#3
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Re: News just in - man with vested interest says Perth property market recovering
"Australian Property Alliance (APA) managing director Paul Bitdorf said the Perth property market was starting to show signs of recovery, thanks to increased activity within the first-home buyer sector."
http://www.news.com.au/perthnow/stor...9-2761,00.html
Oh how I love Australian "news" stories.
http://www.news.com.au/perthnow/stor...9-2761,00.html
Oh how I love Australian "news" stories.
Time will tell if they can pull this one off being that the Perth property market is so way over valued and poor value for money.
#4
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Re: News just in - man with vested interest says Perth property market recovering
STOP THE PRESS - Melbourne's houses are now more affordable !
"The improvement in housing affordability means those on a more modest income can now contemplate a home of their own," the HIA's chief executive Chris Lamont said.
http://www.news.com.au/heraldsun/sto...1-2862,00.html
"The improvement in housing affordability means those on a more modest income can now contemplate a home of their own," the HIA's chief executive Chris Lamont said.
http://www.news.com.au/heraldsun/sto...1-2862,00.html
#5
Re: News just in - man with vested interest says Perth property market recovering
"Australian Property Alliance (APA) managing director Paul Bitdorf said the Perth property market was starting to show signs of recovery, thanks to increased activity within the first-home buyer sector."
http://www.news.com.au/perthnow/stor...9-2761,00.html
Oh how I love Australian "news" stories.
http://www.news.com.au/perthnow/stor...9-2761,00.html
Oh how I love Australian "news" stories.
#6
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#7
Re: News just in - man with vested interest says Perth property market recovering
It is funny :-) but how do you think economies go bad - because of lack of confidence!!
If people think things are getting better then they will spend and hey presto things start improving!!
Jeez, that was a big pig that just flew past my window :-)
If people think things are getting better then they will spend and hey presto things start improving!!
Jeez, that was a big pig that just flew past my window :-)
#8
Re: News just in - man with vested interest says Perth property market recovering
Spend - as in borrowing money they don't have? Isn't that how the economy got into trouble to begin with? ;-)
#9
Re: News just in - man with vested interest says Perth property market recovering
I reckon these will show some suburb shockers that Bitdorff, Druitt and the rest will blame on the lower end of the market being active therefore bringing average suburb prices down heaps! We'll see....
#10
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Re: News just in - man with vested interest says Perth property market recovering
1. When people have de-leveraged themselves enough that they feel they can start borrowing and spending again.
2. When enough people enter the workforce who have not gone through what we are about to go through and decide that they have found a new economic paradyme i.e. no boom bust economy and that house prices go up an 10% + each year. They will of course be wrong.
#11
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Re: News just in - man with vested interest says Perth property market recovering
[QUOTE=Billabong;7292308]It is funny :-) but how do you think economies go bad - because of lack of confidence!!
If people think things are getting better then they will spend and hey presto things start improving!!
I have made this point several times too. I am fortunate in that my job is secure, as are many thousands of other people. I have the same amount of money in my bank account as I did before the crunch began as do thousands of other people. The difference is that we are all being told we're doomed so are hanging on to our dosh. The only good that can come out of this whole mess is that people will stop relying on credit and start saving again - you can but hope. I personally am enjoying my reduced mortgage payments because of the interest rate cuts (although our savings aren't doing so well - you can't have it all), the frequent 10% off everything days in Homebase, Debenhams' permanent, bargain basement sales, the increase in two for ones at the supermarket and the lower petrol costs.
I've quoted on here before about shares in a major company plummeting dramatically from £2+ to just 11p (nightmare). There was then a steady climb until it reached the heady heights of 19p. Then what did the company do? It announced doom and gloom, that bad times were ahead and hey presto, the price plummeted back down again. This is only an example of the psycological effects negative media can produce. I'm not saying everyone should lie and say everything is rosy because clearly it isn't but really, everyone knows things are bad and I can't see how shouting it from the rooftops every 5 minutes helps.
Having said that, it really is grim for the poor, unfortunates who are suffering job lossess and this isn't meant to dismiss them. I just don't think it's helpful to keep talking the credit crunch up and that I think the media on the whole isn't helping and should JUST SHUT UP!
If people think things are getting better then they will spend and hey presto things start improving!!
I have made this point several times too. I am fortunate in that my job is secure, as are many thousands of other people. I have the same amount of money in my bank account as I did before the crunch began as do thousands of other people. The difference is that we are all being told we're doomed so are hanging on to our dosh. The only good that can come out of this whole mess is that people will stop relying on credit and start saving again - you can but hope. I personally am enjoying my reduced mortgage payments because of the interest rate cuts (although our savings aren't doing so well - you can't have it all), the frequent 10% off everything days in Homebase, Debenhams' permanent, bargain basement sales, the increase in two for ones at the supermarket and the lower petrol costs.
I've quoted on here before about shares in a major company plummeting dramatically from £2+ to just 11p (nightmare). There was then a steady climb until it reached the heady heights of 19p. Then what did the company do? It announced doom and gloom, that bad times were ahead and hey presto, the price plummeted back down again. This is only an example of the psycological effects negative media can produce. I'm not saying everyone should lie and say everything is rosy because clearly it isn't but really, everyone knows things are bad and I can't see how shouting it from the rooftops every 5 minutes helps.
Having said that, it really is grim for the poor, unfortunates who are suffering job lossess and this isn't meant to dismiss them. I just don't think it's helpful to keep talking the credit crunch up and that I think the media on the whole isn't helping and should JUST SHUT UP!
#12
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Re: News just in - man with vested interest says Perth property market recovering
Having said that, it really is grim for the poor, unfortunates who are suffering job lossess and this isn't meant to dismiss them. I just don't think it's helpful to keep talking the credit crunch up and that I think the media on the whole isn't helping and should JUST SHUT UP!
This could have impacted negatively on households who may have splashed out on goods thinking that all was rosy when in fact it was/is hitting the skids.
#13
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Re: News just in - man with vested interest says Perth property market recovering
In Australia I think it is the opposite to this. The government (and the real estate industry via the media) constantly talked the economy up for most of last year until ultimately they began to look a bit stupid - emperor's new clothes and all that.
This could have impacted negatively on households who may have splashed out on goods thinking that all was rosy when in fact it was/is hitting the skids.
This could have impacted negatively on households who may have splashed out on goods thinking that all was rosy when in fact it was/is hitting the skids.
Interesting to hear both approaches. Something in the middle would be good - wonder what Singapore are doing!
#14
Re: News just in - man with vested interest says Perth property market recovering
In Australia I think it is the opposite to this. The government (and the real estate industry via the media) constantly talked the economy up for most of last year until ultimately they began to look a bit stupid - emperor's new clothes and all that.
This could have impacted negatively on households who may have splashed out on goods thinking that all was rosy when in fact it was/is hitting the skids.
This could have impacted negatively on households who may have splashed out on goods thinking that all was rosy when in fact it was/is hitting the skids.
Edit: Just wanted to add that this is not an opinion on Perth's property market as I, like everyone else on here, do not know what is going to happen to it.
#15
Re: News just in - man with vested interest says Perth property market recovering
Singapore is officially in recession.