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Ah, now it's all clear. I didn't know the whole story. Commiserations HG.
Conversation in HG's house:
The missus: I told you we should have bought a house last year, but oh no, you said 'Trust me Honey, house prices are going to crash'. Well, they haven't, have they?
HG: But they will. Soon. Promise. Every single house in Australia. Pick one. Any one. In a couple of months the owners will be begging us to buy for half what it's worth now.
The missus: Says who? Those sad tossers on that house crash internet forum thing? I would rather you surfed porn sites. At least you'd be less gloomy. Just as well you bought those shares. Thank goodness we're making a fortune on them. How are we going with the shares Darl? You there Darl?
Sound effect: Sound of a door shutting and footsteps running fast down the road into the distance.
He criticized me for buying a 2 bed unit, 5 k's from the city in Brisbane. When I was 23 I paid off my mortgage.
rents in perth WILL be going up.
This week, the Housing Industry Association estimated WA would be 30,000 houses short of demand within five years.
Mr Druitt said the large number of properties for sale punctured the myth of a housing shortage. "In WA we have a situation of oversupply - not a problem with undersupply, and this is due to the strength of building activity between 2001 and 2007," he said.
He said a 25 per cent rent rise predicted to occur in Perth over the next two years would actually be a good thing for renters as well as owners.
Mr Druitt said an increase in rents would provoke a corresponding rise in rental yields, which would encourage more investment back into real estate.
There was only a shortage compared to speculative over-demand. Without that, which is now, there is a glut.
Does this make sense to anyone?
Do you think this would be possible now?