ABC TV Reporter

[INVSTOR]

Cool. Nigel Stapledon of the University of NSW School of Economics has done a study on long term house prices in Australia. If you notice the bottom of the chart, the source for real house prices comes from Stapledon.

The average dwelling price in Australia in 1880 was the pounds equivalent of $870.

If house prices double every 10 years, the average house price today is $5.547 million. If they double every 7 years, it is $142.8 million.

You better start buying some more property - it's extremely cheap.

Foundation?

 

[jingo]

Foundation?

What Foundation??

 

[wylie]

Guessing Foundation from propertyinvesting.com ???

 

[Rockstar]

What Foundation??

Foundation

 

[JIT]

Foundation/Sustainability (from bubblepedia/GHPC/PI)...welcome to SS?

Or is it ICC?

 

[Sustainability]

Now I am feeling old. There has been a couple of these "once in a hundred years" events in my lifetime in property and a few in the sharemarket. But I suppose thats an advantage having the perspective of a five hundred year old.

House prices have NEVER been this overvalued, so I find it hard to believe you have seen a couple of these events in your lifetime.

On the graph I don't see any bubble anywhere close to the size of the bubble we have at the moment, and the graph goes back to 1880.

What years did you see these excessive house asset bubbles the size of this one?

 

[plusnq]

House prices have NEVER been this overvalued, so I find it hard to believe you have seen a couple of these events in your lifetime.

On the graph I don't see any bubble anywhere close to the size of the bubble we have at the moment, and the graph goes back to 1880.

What years did you see these excessive house asset bubbles the size of this one?

"Once in a hundred years" is the great line that is trotted out every time every time there is an economic downturn. Great phrase but means very little once you have seen it a few times. I have been around for the chart circles below. Also for 1980 interest rates, 1982 recession, 1987 stock market crash, 1992 recession we had to have, 1997 Asian Crisis, LTCM in 1998, 2000 Dot com bust, etc etc etc. All "one in a hundred year events" that threatened the stability of Australian or world financial systems. These events like all tragedies come to pass. They often offer spectacular opportunities for those that are willing and able to take advantage of them.

Cheers

Shane

 

[Sustainability]

Thanks Shane. So essentially what you are saying, is you have not yet seen a boom as big as this one before?

 

[Nathan]

I'm working on ABC television's new youth current affairs show The Hack Half Hour.
Hosted by Steve Cannane, The Hack Half Hour is a single-issue, 30 minute panel-style program which will air on Monday nights at 8.30pm EST on ABC2.
It aims to be a gritty, raw approach to current affairs using young people's experiences as the focal point. Our core audience are 15 -35 year olds.
I'm producing a show on the property market. The Great Australian Dream is to own your own home. But with prices so high and interest rates increasing this is not looking likely for a lot of people. I'm looking for the following types of people for the discussion because young people feel really torn about what they shoud do:
*Someone who bought and lost
*Somone who bought and won
*Soneone who chose to travel
*Someone who chose to party
*People who chose to rent instead
*Someone who feels they missed the boat
*Siblings or friends who have split the debt
*Still living at home saving
Let me know if this is you or if you know someone who fits the bill.
Thank you!

Just turned 23, 7 IP's + shares PM me if your keen

 

[plusnq]

Thanks
Shane. So essentially what you are saying, is you have not yet seen a boom as big as this one before?

I dont recall saying that. Perhaps you may have a comprehension issue?

 

[Witzl]

nah - it's Antoinette Chiha.

 

[josko]

Just turned 23, 7 IP's + shares PM me if your keen

Nathan, well done! You are leading the way for other Gen Y's to follow.


Problem is......I think you are too successful for Antoinette......I'd be interested to know if you get a call..

Regards Jo

 

[Nathan]

Nathan, well done! You are leading the way for other Gen Y's to follow.


Problem is......I think you are too successful for Antoinette......I'd be interested to know if you get a call..

Regards Jo

Thanks for the kind words jo...

yeh will be interesting to see aswell...

 

[Nathan]

It is not a monkey, it is the character I played in one of the star wars movies. But yes I talk a fair amount of trash over at GHPC, I don't tend to post here very often (I actually forgot my login for this site as I was only reading it and didn't notice I hadn't stored the password) as I don't think the audience here is quite as open to the style of post I often make.

If you have indeed read some of my funnies I expect you will see what I mean.

Regarding the clarification requested earlier by LA Aussie, yes of course I will need my sparky ticket, can't do electrical repairs without it. Perhaps my comment regarding that was unclear. I was pointing out that, yes, being a land lord is a viable option for me at some point however my investment strategy is to remove as many costs from the investment as possible. Therefore it should be rather obvious that I would like to do any maintenance on an IP myself.

As I said this in conjunction with mentioning I have acquired a small amount of interior decorating skills I thought it was fairly obvious.

If you read my posts you will see the underlying theme of up-skilling for my wealth creation.

Edit to add: Regarding "Hired Goon, Foundation, Scamp, Timeisnow, XGJunkie, Blogs etc?" yep I have insulted / ranted drunkenly at most of them at some point or another I guess.

Dont you like SS??? is it too positive for you?

 

[tor]

Dont you like SS??? is it too positive for you?

See normally I would insult you for your lack of comprehension and inability to read my post.

An apparently relatively common behaviour here.

However I recognise that this forum has slightly different denizens to the ones I do post at (such as GHPC) where they allow a bit more leeway in the insults and so on.

It may be hard to see exactly where I put that in my post that you quoted so I will edit the quotation to ensure it stands out clearly for you and thereby attempt to not encourage more of the behaviour I would normally castigate:

...yes I talk a fair amount of trash over at GHPC, I don't tend to post here very often ... as I don't think the audience here is quite as open to the style of post I often make.

If you have indeed read some of my funnies I expect you will see what I mean.

See how that bit answers your question before you ask it?

 

[antoinette]

I don't think success stories are relevant unless they are happening in the current economic climate.

It's all well enough to have succeeded having bought prior to the biggest property boom in history, doubled your money and gotten out before the boom ended, it's quite another to be trying to do the same thing now.

That's a good point Rogue. Thanks for making it.

 

[antoinette]

Thanks Celia and well done to the young ones.

Antoinette,

Wouldn't it be a more positive move to source role models like Celia's son and daughter in law as to how they have succeeded in achieving "The Australian Dream".
House prices have always been high and unaffordable without taking on considerable debt - ask your parents - and grandparents.

Pointing young people on the right path in the right direction is what I would suggest you aim for. There are young people out there who know how to live within their means and are achieving their "great Australian housing dream". Go find some and share their stories.

I've contacted Celia and would love to hear from her daughter and son in law.
Thanks for your suggestion.

 

[antoinette]

wow, 5 pages of mostly offtopic nonsense, and no reply from antoinette!

I've enjoyed reading all the comments... even the ones that are slightly off topic and I am contacting some posters privately.

Thank you for all of your comments and suggestions.

 

[antoinette]

No not a fake. Just a busy journalist. I try and read every post and where possible reply privately to the posters.

 

[depreciator]

I gather young Nathan isn't someone who bought pre boom and then cashed in. He bought his most recent property in the last week or so - see his other thread Antoinette. It sounds like a great buy. He has a strategy and he's sticking to it.