Oh you quoted my comments before I deleted them, since I figured many people would get angry at such "arrogant" and "elitist" comments following that recent thread on arrogance.
Boom times return?
- Thread starter Ausprop
- Start date
fwiw, i met a melbournian yesterday who reflected exactly the kind of attitude that Dazz just explained.
What, that we're all latte sipping hippies? Now back to reading The Age and eating my macarons...
What's with all the;
"Ha, Ha; the West is booming and you Easterners aren't...nah, nah, ne, nah, nah" stuff?
If it wasn't for the mines, the respective geographic economies around them would be mostly the same as our shoit ones - or worse - so ease up a bit you blokes.
At least we've done alright without the mines in the past, apparently.
"Ha, Ha; the West is booming and you Easterners aren't...nah, nah, ne, nah, nah" stuff?
If it wasn't for the mines, the respective geographic economies around them would be mostly the same as our shoit ones - or worse - so ease up a bit you blokes.
At least we've done alright without the mines in the past, apparently.
Not at all Marc,
A bit of respect for the lesser states wouldn't go astray every now and again though.
Even acknowledging that we exist would be a start....{WA / SA / NT / Qld} seem to get summarily ignored at every turn.
I know we don't rate a mention in The Age or the Sydney Morning Herald or the Fin. Review.....and we don't have the history or the population to make much of a dent really.....but right now we are the states that are doing the heavy lifting, and looking at the terms of some of the contracts that are underpinning it all, she's not gonna change anytime soon.
The troika of Melb / Canberra / Sydney does not make a country.
A bit of respect for the lesser states wouldn't go astray every now and again though.
Even acknowledging that we exist would be a start....{WA / SA / NT / Qld} seem to get summarily ignored at every turn.
I know we don't rate a mention in The Age or the Sydney Morning Herald or the Fin. Review.....and we don't have the history or the population to make much of a dent really.....but right now we are the states that are doing the heavy lifting, and looking at the terms of some of the contracts that are underpinning it all, she's not gonna change anytime soon.
The troika of Melb / Canberra / Sydney does not make a country.
Geez Daz
Don't get to far ahead of yourself, we still have this to happen
Commercial Real Estate Apocalypse in 2011-2012
http://somersoft.com/forums/showthread.php?t=59957
Cliff notes, potential for:
Risk of sovereign default
Further stress via the options arms resets
Commercial property problems (specifically was referring to US as per article)
Housing will fall dramatically (including in Australia)
And here we are two years later:
With Greece, Spain and entire Eurozone teetering on the edge (Greece already partially defaulted)
US property market turning back down after bounce reversed from early 2010
US Commercial property? (perhaps you can give us an update on this one turk as it's the only one I haven't kept tabs on)
Australian property since peak (which was around early-mid 2010 on national level):
What do you mean "still to happen"?
Cliff notes, potential for:
Risk of sovereign default
Further stress via the options arms resets
Commercial property problems (specifically was referring to US as per article)
Housing will fall dramatically (including in Australia)
And here we are two years later:
With Greece, Spain and entire Eurozone teetering on the edge (Greece already partially defaulted)
US property market turning back down after bounce reversed from early 2010
US Commercial property? (perhaps you can give us an update on this one turk as it's the only one I haven't kept tabs on)
Australian property since peak (which was around early-mid 2010 on national level):
What do you mean "still to happen"?
hobo
See you have me off your ignore button, now you can get around to answering these questions posed in post #247 on this thread
http://somersoft.com/forums/showthread.php?t=78802&page=17
I can't see where we have had the dramatic price falls you predicted in Feb.2010.
Perhaps you can post a chart from Feb. 2010 to present?
hobo-jo's data is correct for certain areas that I am looking at. Particularly those areas with high concentrations of migrants - they would pay $2.5m for a property and sell it only 1-2 years later for $1.6m! But these areas experienced a huge boom during the 08/09 frenzy so you if you got out early you'd be laughing.
Yep lets not pretend Perth etc. are incubating the next apple, facebook etc. they are just digging stuff up that's happens to be in their backyard.
Steve Jobs was worth 7 billion. Gina Rhinehart is worth 20 odd billion. Make of that what you will.
For many of Australia's capital cities (if not all of them) we've experienced (still ongoing in some cities) the largest fall, in a short space of time, over the city wide median, that they've had in the last 30-40 years.
So I don't know turk, I guess if you don't consider that a dramatic fall then we are back to semantics over the terminology I've used.
hobo
No semantics over terminology.
You made the following prediction in February 2010,
'Housing will fall dramatically (including in Australia)."
http://somersoft.com/forums/showthread.php?t=59957
and the RP Data-Rismark index values for
March 2010 were
All dwellings $450,000, Houses $480,000, Units $400,000
and May 2012 was
All dwellings $470,000 Houses $490,000, Units $430,000
It would seem to me that you only want to cherry pick your statistics and as ignore statistics/change dates when they contradict your argument.
The fact is that Medians have actually risen since you made your prediction.
Should you disagree please post your statistics showing the dramatic drop in values since March 2010?
A) You are taking the context of "dramatic price falls" out of context with regards to my post which suggested they would occur in the event of a meltdown, not specifically drop from the time of that post.
B) RP Data has changed their methodology several times over the last few years so you are probably quoting from two different sets of numbers.
e.g. here is a chart from the old index, are you suggesting house prices have rebounded $40k since October last year?
http://propellresearch.wordpress.co...house-price-index-points-to-improving-prices/
You seem very keen to "prove me wrong" even if it means finding two different indexes and splicing them to paint a lie about the market.
Dishonest if you ask me.
I was looking at a chart today that points out that capital city peaks occurred at different times. Not sure what was happening between February 2010 and later that year when the peaks occurred.
As of the end April this year.
http://www.smartcompany.com.au/property/049528-capital-city-property-price-drops-reverse-recent-trends-rp-data.html
"Across the major capital cities, the rate of decline has varied much more. Brisbane is the market which is farthest along its correction, being 29 months since the market peaked (April 2010). Over that time the housing market has recorded total value declines of -12.0% or an average monthly decline in values of -0.4%. Values in Sydney have been fallen by -3.8% in 17 months (-0.2%/month), Melbourne values are down -8.1% in 18 months (-0.5%/month), Adelaide values have declined by -4.7% in 19 months (-0.2%/month) and Perth values have fallen by -7.4% in 24 month (-0.3%/month)."
Attachments
A) You are taking the context of "dramatic price falls" out of context with regards to my post which suggested they would occur in the event of a meltdown, not specifically drop from the time of that post.
B) RP Data has changed their methodology several times over the last few years so you are probably quoting from two different sets of numbers.
e.g. here is a chart from the old index, are you suggesting house prices have rebounded $40k since October last year?
http://propellresearch.wordpress.co...house-price-index-points-to-improving-prices/
You seem very keen to "prove me wrong" even if it means finding two different indexes and splicing them to paint a lie about the market.
Dishonest if you ask me.
Not dishonest, purely a mistake in not realising RP Data had used two different methodologies.
Using the chart you have posted there is a fall of approx. $10,500 in 20 months, from Feb2010 to Oct 2011, this represents a 2.3% fall, hardly dramatic.
Still awaiting your chart showing dramatic drop since you prediction in February 2010
With regards to honesty still awaiting your answers in this thread
http://somersoft.com/forums/showthre...=78802&page=17
I reckon if that big fat red line was on a real scale, it would be flat.....you'd be hard pressed to see any movement in it whatsoever.
I wouldn't be gettin' all jittery.
There is something about drama queen language nowadays from all fronts that is quite disturbing.
Instead of stating....there is a high likely that prices may retract up to 5% over the coming years....people tend to write "massive price crash looming, investors stand to lose everything".
Why is that...other than attention seeking ??
I wouldn't be gettin' all jittery.
There is something about drama queen language nowadays from all fronts that is quite disturbing.
Instead of stating....there is a high likely that prices may retract up to 5% over the coming years....people tend to write "massive price crash looming, investors stand to lose everything".
Why is that...other than attention seeking ??