By: ozlostin
2/02/2009
1:23 pm Yahoo! Profile:
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By: sanclemente39
9 minutes ago
'Lasty49, do you know anything about American history? We don't give up. We never have. And unlike Australians, we don't celebrate failure. As your formal education seems wanting, perhaps you might avail yourself to a little self education and have a look at the American innovation and great American corporations that were borne of the Great Depression. Maybe Aussies are happy being Asia's quarry and making 10% gain on their houses every year. In every pub, every corner of every city of Oz, all you hear is how much money somebody made on their house. That's good enough for you, but not good enough for us'
Add your name to the previous list. I love the U.S. I have a daughter living there, and we have spent lots of time in California. 'Education seems wanting': Are you for real??
You guys go in a bomb Iraq and we're right behind you. Your allies, where do you people get this c**p from. If you dont like it, why are you here? |
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By: ozlostin
2/02/2009
1:16 pm Yahoo! Profile:
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Down here in our little part of the world...we will be fine. We always pull through, we're Aussies we're known for it. Just ask the Americans and the British about the war and you will discover who has the biggest hearts.
I dont get it?? Why do we let these people into our country & provide them with the opportunities to better themselves through education and career and welcome them into our communities. We have some close friends who migrated from China around 10 years ago & they have nothing but praise for our wonderful country & the freedom to be who they please.
We've lived with the wealth but also without it. As long as we have a roof over our heads and our kids are in school, a cold beer at the end of the day, we're happy. Whats the use in arguing and about something nobody has any control over?
Discussion about the topic is great but why the constant bashing of our beautiful country? Just not neccessary.
Thats my final word. I dont particulary care if this post is deleted. As long as it sticks around long enough to be read by those who it is posted for.
titfortat; forrestwicks; nz4forests; cchamber;......etc |
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By: sanclemente39
2/02/2009
1:08 pm Yahoo! Profile:
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"The US is stuffed, the UK and parts of Europe are stuffed.
Welcome to the east."
Lasty49, do you know anything about American history? We don't give up. We never have. And unlike Australians, we don't celebrate failure. As your formal education seems wanting, perhaps you might avail yourself to a little self education and have a look at the American innovation and great American corporations that were borne of the Great Depression. Maybe Aussies are happy being Asia's quarry and making 10% gain on their houses every year. In every pub, every corner of every city of Oz, all you hear is how much money somebody made on their house. That's good enough for you, but not good enough for us.
Also, I travel through Asia a great deal - it's part of my job. From Kazakhstan to China, have a guess which country everybody wants to immigrate to? It certainly isn't Australia. Never once did I hear, "Hey, the Chinese economy is going to go gangbusters, I want to immigrate to China."
You ought to tone down your anti-US rhetoric old chum, you've got us all wrong. |
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By: forrestwicks
2/02/2009
12:53 pm Yahoo! Profile:
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your quite misinformed I own a plastic biz in Shanghai China and the average Chinese is in a world of hurt dude who do you think is china's biggest customer's the lazy EU and USA India is also dependant upon its exports to the USA and the lazy EU as you say keep on dreamin yur dream they won't buy yur stuff anymore who will you sell to?
also the people that you say are going to bail you out will own you!!!!hahahahahahah |
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By: lasty49
2/02/2009
12:31 pm Yahoo! Profile:
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forrestwicks,
The shortgage of housing occured when builders couldnt afford to build them in 2005. 100,000 shortage.
I dont think you guys up there get whats going on in our part of the world.
China loves our stuff. So much that they want to keep buying into one of our producers Rio.
Then we have Gold. Once the Chinese and Indians piss off those lousy US dollars and buy something valuable we will be here to dig it out.
The US is stuffed, the UK and parts of Europe are stuffed.
Welcome to the east.
The growth potential by domestic consumption from China and India will outweigh any US and EU exports.
The laziness by the US and EU worker has created Asia's prosperity and since you guys are out of credit you have nothing else to offer. |
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By: blogger717
2/02/2009
12:26 pm Yahoo! Profile:
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there is more commentary on economic and financial news. Stock trading tips, guides, option contract strategies etc.
come check out http://blackvaultcm.blogspot.com |
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By: forrestwicks
2/02/2009
12:09 pm Yahoo! Profile:
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keep on dreamin , do you track the world markets you might be an island un to your self but when the world quits buying your coal and iron ore etc. what are you gonna do?
and how much have housing prices increased in the last ten years? also they said the same thing when I lived in Italy and now they have the same problem no demand and prices are dropping like a rock also why is there a shortage of homes? thats a no brainer dude!!
good luck and sweet dreamin and just you remember you could have sold and buy when price *** bottom its yur loss |
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By: lasty49
2/02/2009
11:50 am Yahoo! Profile:
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forrestwicks,
Infact housing is becoming more affordable as interest rates are dropping here.
We had the work class bailout when rates were higher back in 2005.
American market is different. We have a housing shortage yours is surplus caused by an upsell from the subprime rogues.
No such thing here.
If the markets were similar yes but they aint. |
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By: forrestwicks
2/02/2009
11:44 am Yahoo! Profile:
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have you ever heard of supply and demand?
no demand if the working class is priced out of the market,the wages have not increased enough for the average working man to afford the monthly bank payment.
The Yanks are a good example I'm one of them damn yanks
no where to go exept down sell sell sell |
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By: lasty49
2/02/2009
10:50 am Yahoo! Profile:
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roofdean.
Ever priced a block of land recently?
The NSW goverment is selling them for $250,000.
Do you think they are going to sell them for $100K and lose that stamp duty?
No they just wont release any.
Where is everyone going to live?
Dont look at whats occured in the US and UK.
Focus on our issues not theirs.
The US housing is in glut mode plus. The same with the UK.
They are both crumbling empires. |
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By: roofdean2003
1/02/2009
11:57 am Yahoo! Profile:
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| banks dont want to lend 90% of the money for a home when the price could drop 20-30% and employment security is getting worse. as with the rest of the world median house prices should be 3x the average income. which means the average house should be approx 175k. its currently double that so theres plenty of room to fall if we are to fall in line with the rest of the world |
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By: vinnyboy1976
1/02/2009
11:03 am Yahoo! Profile:
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Meta,
I feel you have post this message in another thread already.
You didn't include the phase for the bank in US and UK feel scared and stop lending and as a result, what this will impact? Hopefully, our bank can use 18 months lagging as a crystal ball and not to follow what the US and UK bank is doing, ie stop lending completely to small business, student and car loan. |
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By: mentawaisurf
31/01/2009
11:57 pm Yahoo! Profile:
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Phase 1: rising mortgage defaults, housing prices start falling, sale volumes fall, housing starts and permits decline.
Phase 2: home builder bankruptcies, housing starts and permits crash, substantial layoffs in the construction and real estate related fields (real estate agents, mortgage brokers, banking, mortgage lenders, etc.)
Phase 3: substantial price declines in major metro areas, a large rise in defaults of prime but low-equity mortgages.
Phase 4: large scale government intervention to help households going bankrupt. This is a political phenomenon, so the timing and nature of this cannot be reliably forecast.
The US housing market is now entering Phase 3.
Australia's housing value cycle & interest rate cycle currently lags the US by about 18 months.
Australia is just commencing Phase 1. |
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By: ktahaulage
31/01/2009
6:27 pm Yahoo! Profile:
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How very true. We have only started the down hill spiral.
Mr Rudd has taken on a very taunting task and I do not think his magic wand will handle what is to come, I do not envy him. I hope I am wrong but I have been through a few so called "down turns' but I have not seen anything like this and I have been around for a while |
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By: cricketnut2008
31/01/2009
2:45 pm Yahoo! Profile:
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| Won't last, we'rrrre all doooomed (Private Fraser voice in Dad's Army) The higher prices go, the further they have to fall. Look at Perth - huge house price inflation, huge drop. Same is happening now in the "silvertail" suburbs of Sydney. It's called a "correction". If you want to make money in the long term (not the short, nor even the medium term, please note), buy investment properties in university catchment areas or ordinary commuter suburbs inhabited by young professionals (NOT the premium suburbs). Rentals in those sectors are never going to fall. As long as you can pay off your own loans, you're laughing. |
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By: almurrie1@y7mail.com
31/01/2009
11:45 am Yahoo! Profile:
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Today, quote Yahoo
Brisbane house prices top December quarter growth
Saturday January 31, 2009, 10:00 am
New figures show Brisbane experienced the biggest increase in house prices among Australia's capital cities in the December quarter.
The data from Australian Property Monitors shows the city's median house price rose 3.3 per cent,
Can't see this lot going down 40%. Move to Brissie!! Seems everyone else is.
Al |
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By: selfrepresent
31/01/2009
9:22 am Yahoo! Profile:
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'Because they're worried, probably with good reason, about losing their jobs.'
Or if they can't get a mortgage. This has happened to a young couple I know, both have full-time employment but even though they qualified in principle for a loan, because of the lack of liquidity in the market, no bank would lend them enough.
The lenders have tightened their criteria to the point where first-timers are unable to enter the market without a huge deposit.
However prices will only plummet if homeowners are forced into 'fire sales' or get their homes repossessed in significant numbers. Otherwise all the signs are that the market will just stagnate until the credit crunch is resolved. |
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By: cricketnut2007
31/01/2009
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"In fact, there are very few people setting any economic policy that don't own their own house and therefore have a conflict of interest."
That's a very good point, only that most of them are very wealthy if not millionaires and wouldn't be worried about mortgage stress, or any mortgage at all, come to that.
As for falls in house prices or otherwise, nobody knows but it's fun to predict. There are so many variables in the equation and a lot of the long-term trend depends on supply and demand. In London, for instance, prices defied predictions and kept on and on rising for years because of a shortage of land and property. Technically the first time buyers were priced out of the market, but then their parents started using the equity in their own homes to buy properties for their kids, fuelling the inflation cycle. (Many of those parents are now in serious trouble.)
Now, in Aus, we have a huge incentive package for first-time buyers and they ought to be out there in numbers, snapping up all the bargain starter homes. But it ain't happening. Why? Because they're worried, probably with good reason, about losing their jobs.
As I said, who can predict? We can all have a go but nobody really knows... |
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By: andrewcmeier
31/01/2009
8:51 am Yahoo! Profile:
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Most of the commentry on the Australian real estate market's future seems to comes from groups with an interest in maintaining confidence in it. Even the people making the policy decisions (ie ministers) usually have a conflict of interest because they own a piece of real estate themselves which they have an interest in seeing the price continue to rise.
In fact, there are very few people setting any economic policy that don't own their own house and therefore have a conflict of interest. |
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By: silvdale
31/01/2009
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I do not know where the real estate fraternity and those that publish statistics in Oz get their numbers from. I can tell you that where I lived in Perth,Western Australia
prices have already fallen by 25-30% and the market is currently illiquid. No sales for the month of December!!!
Prices will fall by a minimum of 40% and then they will stagnate for years to come. |
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By: robert_ferenczi
31/01/2009
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| I find it very interesting that many in the Real Estate sector think that the current 10% fall in house prices is close to the bottom of the market. The effect of the Economy downturn is only now starting to be felt in Australia. We have a long downhill ride to go for the housing sector. |
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