Still "100% certain" that rates will go up next month?
Next Interest Rate Movement down?
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Either way, property is heading for a correction, so it really does not matter either way. The bigger call was the 30% correction of Australia property.
I said rates would go up, unless there was another GFC (check the posts back 2mths). A lot of Somersofters were scoffing at the idea of GFC2 (D&G they said,
). Well guys, who was right.You guys are cheering the interest rates drop on like it's a good thing. If the RBA need to move 0.5%, then it means that global economic conditions are stuffed. Government stimulus spending won't hold up the property market this time like during GFC1.
This is GFC levels. 30% property market correction, here we come.
Either way, property is heading for a correction, so it really does not matter either way. The bigger call was the 30% correction of Australia property.
I said rates would go up, unless there was another GFC (check the posts back 2mths). A lot of Somersofters were scoffing at the idea of GFC2 (D&G they said,
You guys are cheering the interest rates drop on like it's a good thing. If the RBA need to move 0.5%, then it means that global economic conditions are stuffed. Government stimulus spending won't hold up the property market this time like during GFC1.
This is GFC levels. 30% property market correction, here we come.
Yes! Nothing to be happy about. It has been my view that we were stuffed as soon as Labor got their hands on the kitty.
Where's the back up now?
Regards JO
Yeah, yeah property down 30%, just like 2008/09
I never said 2008. Always said 2012. Your mistaking me with Keen.
So the Somersoft bulls have it correct of interest rate drops (though I have been banging on about GFC2), but they are still to realise that the property market will correct.
Either way, property is heading for a correction, so it really does not matter either way. The bigger call was the 30% correction of Australia property.
I said rates would go up, unless there was another GFC (check the posts back 2mths). A lot of Somersofters were scoffing at the idea of GFC2 (D&G they said,
No you didn't. You are re-writing history AGAIN. Here is your actuial quote from a week ago. You lose all credibility when you are 100% certain of something happening a week ago, yet now you are backing away from your own statement at 100 miles an hour.
No mention of GFC2, no mention of 'unless another GFC'. Who are you trying to deceive here, us or yourself?
Was that before or after your 2013/14 prediction?
You're moving the goal posts again bluey....
Yes I did, as per a post on another thread on 3rd August. Hey, sue me, while I did predict that GFC2 would happen, even I didn't expect problems so soon (obviously a lot has happened the past week). So the second statement is still valid.
Do I really care what happens to interest rates with a 24% LVR, NO.
Then why bother giving us a worthless prediction every 5 minutes??? Geez...
Do you know...this comment would be funny...if it wasn't so true.
Would not suprise me one bit.
Regards JO
So what would they spend it on this time? Oh wait - Labor always finds ways to spend money
Mate, you guys quote the markets predictions on rates. The markets were also pointing to 2 interest rate rises in 6mths. So even the economic boffins get it wrong and did a 180deg.
Yeah, listen to the property bulls on here, and you'll be right.
Listen to the property bulls, property won't correct.
Anyway, see you guys, It's a property forum, so as I'm staying out of more property until late 2013/ early 2014 (after the correction), so no point in being here. Concentrate on the ASX (so I'll go find some share trading forum).
Cheers, been fun.
Yeah, you said that on 13.7.2011 here: http://www.somersoft.com/forums/showpost.php?p=811947&postcount=255
but you're still here
Here's a prediction for you:
IR's are headed down, so loan serviceability has increased.
The sharemarket has crashed.
Ppl are sitting on substantial savings.
In 2 - 4 weeks time after ppl get over the shock, money will start to flow into RE investments and certain areas will experience the same boom conditions we had mid GFC Ver 1.0
Let's see
It will lead to high inflation though which will help pay off my debt, sure interest rates will rise but so will my wages, so I dont see it as all bad.
Chomp
lol i'll believe it when I see it. Just like every other statement made, I'm sure you'll back track and be back here in no time.
Prove us wrong, I beg you
If you still have a job.......Hope you are self-employed. Wages will rise but not after staff have been laid off as business suffers.
Prop:
I think you are right about savings but from my previous experience GFC1 the banks were still assessing at 2% higher which was generally alot higher than the DSR of the good ole days. Not sure if servicing will be any easier.
It took at least a year of hurt for the property market to bounce back.
Regards JO
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