People of Great Britan - Take Note!

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Apr 16th 2009, 12:31 am

#91

Hutch

Australia's Doorman

Joined: Jan 2005

Location: The Shoalhaven, New South Wales, Australia

Posts: 11,056

Re: People of Great Britan - Take Note!

Quote:

Originally Posted by nigel and wendy

houses in oz are the most overpriced in the world ,especially in perth........be realistic.......a crash is coming !! debt is not wealth.

Debt is not wealth? Why not try something equally meaningless - such as tea is not coffee. Or screwdrivers are not hammers.

Quote:

Originally Posted by nigel and wendy

oz is perhaps 12-18 months behind the rest of the world and the housing market is being kept artificially high with the FHOG.

They phasing the first-home owners grant out then? And only 12-18 months - I thought it was nearer five to 10 minutes.

Quote:

Originally Posted by nigel and wendy

tbh.....people must be mad to buy right now.........imagine having a 400k home loan with the prospect of losing your job in the near future or the threat of negative equity

What's the issue with negative equity? If you're living in your home, what does it matter what market value it has? I lived in a flat in Bath in negative equity for five years and I don't recall it having a single detrimental effect on my life. None. Nada. Zilch. Negative equity only affects the sort of chumps who a) view their houses as their pensions and are nearing retirement age and b) who bought a house to 'flip' it.

If you're not buying - or selling - what does it matter?

Quote:

Originally Posted by nigel and wendy

i`m probably gonna flamed for saying this but i`m sitting tight on my 300k and gonna buy in about 12months or so.......just my opinion ,thats all.

Hurrah for you. Just one question. Whose house are you going to buy? The one problem with the "house price crash" thing is that it requires all those people who currently own those houses to sell them. But all those people aren't going to sell them - are they. They're going to, ermmm (and I know this is a radical idea, but bear with me) "live" in them. You know - use that property is a "home".

Quote:

Originally Posted by nigel and wendy

and if you want graphs and stats take a look here.......... http://forum.globalhousepricecrash.c...hp?showforum=9

t has all the info you could hope for

Yea - various people have been spamming that website for as long as I've been a member of this forum. It falls under the same heading as "even a stopped clock is right twice a day". There are always dips and troughs in the cost of property, but the median line is ever ascending skywards ...

Apr 16th 2009, 12:39 am

#92

Hutch

Australia's Doorman

Joined: Jan 2005

Location: The Shoalhaven, New South Wales, Australia

Posts: 11,056

Re: People of Great Britan - Take Note!

Quote:

Originally Posted by IvanM

What got up your butt?

Is that your opinion or fact the market reached the bottom? I guess your opinion is that we are not hitting a dead cat bounce.

The only other thing I recommend people look at is the 1987 stock crash and the subsequent economic downturn, especially house prices and unemployment levels.

Funnily enough I was working as a performance analyst on the currency trading floor for HSBC in the City during the 1987 stock market crash. If you have any questions you'd like answered, feel free to ask.

Apr 16th 2009, 1:13 am

#93

ABCDiamond

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Posts: n/a

Re: People of Great Britan - Take Note!

Quote:

Originally Posted by IvanM

The only other thing I recommend people look at is the 1987 stock crash and the subsequent economic downturn, especially house prices and unemployment levels.

From: Moving Annual Median House Prices 1984-2003

Year Sydney
1984 85,800
1985 93,500
1986 103,600
1987 120,600
1988 178,300
1989 199,300
1990 173,800
1991 181,300
1992 178,000
1993 178,000
1994 192,800
1995 200,700
1996 212,300

Canberra property prices went down in 1987.

Apr 16th 2009, 1:14 am

#94

IvanM

Joined: Jun 2006

Posts: 4,555

IvanM is an unknown quantity at this point

Re: People of Great Britan - Take Note!

How many times was the bottom of the market falsely predicted by analysts at the time?

Quote:

Originally Posted by Hutch

Apr 16th 2009, 1:38 am

#95

ABCDiamond

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Posts: n/a

Re: People of Great Britan - Take Note!

Quote:

Originally Posted by dinner-dash

every suburb has a minus sign in front of median house prices

http://www.homepriceguide.com.au/sna...te=nsw&alpha=a

what suburb you listed in then we will check yours out

Quote:

Originally Posted by ABCDiamond

Cambridge Park 2747 NSW

OK, I looked it up myself... Up +5.0% in last 6 months

From $267,000 to $280,000

Average 7.9% growth per annum over the last 10 years.

Apr 16th 2009, 1:39 am

#96

Hutch

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Joined: Jan 2005

Location: The Shoalhaven, New South Wales, Australia

Posts: 11,056

Re: People of Great Britan - Take Note!

Quote:

Originally Posted by IvanM

How many times was the bottom of the market falsely predicted by analysts at the time?

How many days of the week have the letter 'Y' in them?

Apr 16th 2009, 1:40 am

#97

Notts_bloke

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Re: People of Great Britan - Take Note!

Quote:

Originally Posted by Hutch

How many days of the week have the letter 'Y' in them?

Apr 16th 2009, 3:03 am

#98

Hutch

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Joined: Jan 2005

Location: The Shoalhaven, New South Wales, Australia

Posts: 11,056

Re: People of Great Britan - Take Note!

Quote:

Originally Posted by Notts_bloke

That geography degree has served you well!

Apr 16th 2009, 3:08 am

#99

bcworld

Frequent Flyer Member

Joined: Jun 2007

Location: Melbourne

Posts: 10,994

Re: People of Great Britan - Take Note!

Quote:

Originally Posted by Notts_bloke

So which is the odd one out? Mundee or Sat'dee?

Apr 16th 2009, 3:10 am

#100

Notts_bloke

Account Closed

Joined: Jun 2007

Posts: 1,043

Re: People of Great Britan - Take Note!

Quote:

Originally Posted by bcworld

So which is the odd one out? Mundee or Sat'dee?

Oi stop taken the piss outeh mi accent.

It were Thusdee.

Last edited by Notts_bloke; Apr 16th 2009 at 3:13 am.

Apr 16th 2009, 3:17 am

#101

Notts_bloke

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Joined: Jun 2007

Posts: 1,043

Re: People of Great Britan - Take Note!

Quote:

Originally Posted by Hutch

That geography degree has served you well!

I had a weird sense of humour before going to uni

Apr 16th 2009, 4:22 am

#102

IvanM

Joined: Jun 2006

Posts: 4,555

Re: People of Great Britan - Take Note!

Quote:

Originally Posted by Hutch

How many days of the week have the letter 'Y' in them?

Have you ever seen a grown man naked?

Apr 16th 2009, 4:25 am

#103

Notts_bloke

Account Closed

Joined: Jun 2007

Posts: 1,043

Re: People of Great Britan - Take Note!

Quote:

Originally Posted by IvanM

Have you ever seen a grown man naked?

Just one?

Apr 16th 2009, 10:43 am

#104

IndieG

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Joined: Apr 2005

Location: Melbourne

Posts: 4,553

Re: People of Great Britan - Take Note!

Quote:

Originally Posted by Hutch

What's the issue with negative equity? If you're living in your home, what does it matter what market value it has?

If you're not buying - or selling - what does it matter?

No problem with negative equity so long as you can ride out the trough and don't relaise any losses. The problem is when a borrower is forced to sell the property at a time when he is in negative equity due to circumstances beyond his control e.g. unemployment; divorce (?)...etc.