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.
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fwiw, i met a melbournian yesterday who reflected exactly the kind of attitude that Dazz just explained.
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.
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"?
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.
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.I can't see where we have had the dramatic price falls you predicted in Feb.2010.
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.
You made the following prediction in February 2010,
'Housing will fall dramatically (including in Australia)."
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
The fact is that Medians have actually risen since you made your prediction
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?
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.