By: lamkinkah
20/05/2009
8:42 pm Yahoo! Profile:
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newmille,
apparently columnist Peter Boehm has similar concerns as me for first home buyers.. http://au.pfinance.yahoo.com/b/peter-boehm/100/bew are-the-boost/?page=1#comments
maybe you can go over to his article column and have a go at him .. this will really make you look smart.. |
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By: perceptions_now
20/05/2009
4:11 pm Yahoo! Profile:
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"Normally property prices fall when interest rates rise because of the debt serviceability."
lasty,
Usually, that is correct.
However, housing values have fallen this time, intially at least, for other reasons.
As we now proceed, inflation & higher interest rates will kick in and further losses will then result, as the Global & Australian economy finds a new, lower level. |
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By: lasty49
20/05/2009
1:09 pm Yahoo! Profile:
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Vinny,
The doomers are saying property is going to fall along with interest rates.
Normally property prices fall when interest rates rise because of the debt serviceability.
I think Keating had an issue with wages and not so much property that he hiked up interest rates when in power. |
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By: lasty49
20/05/2009
1:09 pm Yahoo! Profile:
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Vinny,
The doomers are saying property is going to fall along with interest rates.
Normally property prices fall when interest rates rise because of the debt serviceability.
I think Keating had an issue with wages and not so much property that he hiked up interest rates when in power. |
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By: vinnyboy1976
20/05/2009
12:35 pm Yahoo! Profile:
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Lasty,
Can't have both way? The doomers are saying the property price is going to fall and the interest rate is going to rise. I do remember the interest rate rise because of the propert price is rising too fast and too hot, but is there in history where the interest rate rise at the same time property price fall? |
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By: lasty49
20/05/2009
8:59 am Yahoo! Profile:
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"With more builders looking for work and less demand for building materials, the cost of building will also fall."
Where are they going to get the finance from ?
Already there have been home builders gone to the wall with uncompleted construction.
Firstly the deflationists believe that the credit markets will dry up. Next they think the banks are going to splash out credit to an industry that is questionable of survival especially when they think property will fall 40pct.
You cant have it both ways. |
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By: newmilleniumangel
20/05/2009
1:04 am |
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By: newmilleniumangel
20/05/2009
12:31 am |
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By: jtleeoz
20/05/2009
12:16 am Yahoo! Profile:
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Also before I go,
Perceptions_now, valid point. I agree with your point about people's background/history/experi ences somewhat determining their view of things. I guess that's what makes these forums so interesting. The only thing that keeps be coming back is that I feel the need to provide a bit of balance otherwise we would only get one side of some of the stories.
And I just wish there was more valuable discussion instead of cutting and pasting from some posters. Some of the posters here sound like a record stuck on a groove. But again, point taken. |
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By: jtleeoz
20/05/2009
12:03 am Yahoo! Profile:
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Lamkinkah,
You are very rude, annoying and immature. And just in case you didn't realise, tseliot70 is being sarcastic (I just had to point that out because I'm sure lamkin thinks it was a compliment)
Firtly, newmill and her generation is not over. In case you didn't know most of the world's most successful and influential people are predominently over 50.
Bill Gates, Donald Trump (62), Richard Branson (Virgin Group), over 50% of CEOs running fortune 500 companies, very likely your school principal or Dean of your university (I am assuming by your posts that you are still at school - forgive me if I'm wrong), Kevin Rudd, Kevin Spacey, Arnold Schwarzenegger (61), Madonna, Magic Johnson, even US President Obama will be 50 by the end of his term...and the list goes on.
Secondly, I and alot of people who read these forums cringe when you ASSUME all 60+ catch buses and are senile. My father who is 64 drives a 5 series BMW, still runs his own business and plays golf and tennis on a regular basis. He is semi-retired and because he has worked hard to financially support his retirement instead of relying on a government pension, he is not putting a strain on the social security system.
In fact we should be thankful to those like newmill and my father and countless other retirees or soon-to-be-retirees who will fund their own retirement.
Honestly, I don't even know why I respond to your posts when it's so much easier to report abuse but then if I did that you wouldn't learn to expand your thinking/worldview.
Okay, back to some work...or sleep, not sure which yet...
and steveb and xingli...what the heck?! |
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By: dr.xingli
19/05/2009
11:47 pm |
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By: newmilleniumangel
19/05/2009
11:13 pm |
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By: steveb_wilson
19/05/2009
3:15 pm |
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By: tseliot70
19/05/2009
3:03 pm |
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By: lamkinkah
19/05/2009
2:00 pm Yahoo! Profile:
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| newmill, your generation is over.. you are half way to your grave and you really think that by raising 5 kids, being old or taking public transport that does not make you smart. .Your children achievements are not your achievements..btw successful people does not mean they are well mannered but well.. you are definitely showing a good example to them as a uncivilized person.. haha |
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By: jaymarcel
19/05/2009
1:44 pm Yahoo! Profile:
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Hey newmilleniumangel, I'll stick with QLD Australia thanks it is my home country that's why I live here (originally a pom but home is where the heart is).
If NZ so wonderful I don't understand why you all come over here? Please enlighten me. |
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By: mentawaisurf
19/05/2009
1:34 pm Yahoo! Profile:
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That's true bigus. As developers are forced to clear excess stock, even more so after the FHOG boost phases out, they will reduce prices dramatically just to try and generate sales moving forward.
With more builders looking for work and less demand for building materials, the cost of building will also fall.
As prices continue to fall people will put off their purchase in the hope of buying even cheaper at a later date. This will be result in a self-reinforcing deflationary sprial that we are seeing elsewhere around the world as part of the unfolding global trend. |
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By: bigus1im
19/05/2009
1:15 pm Yahoo! Profile:
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| You know, houses are actually pretty cheap. I'm just looking at the Dixon Homes catalogue they just put in the letterbox. 30 squares, 4br, double lockup, couple of dunnies, driveway etc. $129K - sounds very reasonable. The problem is the 300 grand you have to fork out for the 50 square inches of land in the bloody woop-woop to put it on! |
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By: vinnyboy1976
19/05/2009
12:45 pm Yahoo! Profile:
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Lasty,
""So where are all these people living now?"
Overseas and are moving here."
It's not just overseas, as you mention the change is happening which people didn't notice. In my complex, a rental townhouse lived by 2 tennants. One decided to buy and will force the other tennant out to look for property when that rental property is now become owner occupier so one less rental property. I had a female friend live with sub-tennants and she is in the process of buying off the plan townhouse and because it's her now, she become emotionally attached to it so doesn't want other people to touch it. This is one of several kind of the behavour change is happening. |
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By: newmilleniumangel
19/05/2009
12:26 pm |
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By: perceptions_now
19/05/2009
12:06 pm Yahoo! Profile:
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"Oh... and you've posted another 4 here!!! Puyi, don't you have anything better to do than preach doom and gloom. By the way, I am trying to understand what motivates you to post all these articles on these forums."
jtleeoz,
I would venture that puyi has similar motives to yourself, but has a diferent perspective on events.
People simply have different perceptions, because they haven't accessed the same facts &/or their genes and life's environment have been different.
The glass half full or half empty question comes to mind.
Finally, I did not mean that you had not done any research, but I do suggest that you take a wider view of the inputs that are & will affect the Global economy and Australian housing, in particular. |
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By: bigus1im
19/05/2009
11:34 am Yahoo! Profile:
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Nah mate, I'll be right when house prices crash.
Brisbane BTW |
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By: jaymarcel
19/05/2009
11:29 am Yahoo! Profile:
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bigus, What state you in mate? sounds like NSW
I'm sorry to hear your situation mate but sometimes you have to move location to improve your life situation.
Many previous generations moved to an undesirable suburb or cheaper state for their first home then moved back for their next move a year or two down the track.
My fiancee & myself moved countries for a better life so perhaps you should re-look at your options. Oz is the best country though so no need to leave this fantastic country. |
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By: bigus1im
19/05/2009
11:11 am Yahoo! Profile:
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| It was never easy but the payments were only 30% of a truck-driver's pay on a reasonably priced home. We weren't forced to live on the brink and stressing about money didn't tear our family apart. I feel as if I'm staring down the barrel at personal armaggedon when I'm investigating my options. |
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By: walbertanthonyroach
19/05/2009
11:02 am Yahoo! Profile:
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Well said buddy. Its people like you and me who have made this country what it is today. No more doom and gloom.
cheers for now! |
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