Go back to the next rise in property prices location thread. The voted results are still relevant.
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Went over friend numbers yesterday he has $1000 under $3,000,000 in debt, Equity $4M. We played out a number of worst case scenarios of what could bring him unstuck. In the end there was many contingencies he could call upon, so all good.
Peter
Yes but what we don't see if the real measure of unemployment.
Full Time Jobs versus Part Time Jobs.
The Types of Jobs.
Even the fact more people are retiring then entering workforce.
I.e. this
http://www.rossgittins.com/2013/02/how-demography-is-affecting-us-right-now.html
Peter
For sure, I don't know when it will turn - no one does. I just have this feeling about it though. We shall see.
Everyone I deal with and/or know aren't hiring.Which is a good point, the headline unemployment rate can stay the same. But if there's an underlying transition from full time > part time / casual, that will hurt both borrowing capacity and confidence.
Personally I think it's way too early to expect Melbourne is nearing recovery.
http://www.macrobusiness.com.au/2013/03/rba-highlights-melbourne-housing-risks/
Congratulations to those who bought the bottom (to the day) and have now sold?Melbourne is up 6% since mid last year...
http://i187.photobucket.com/albums/x308/LPShadow/RPDataWeekly29Mar2013_zpsc21cb95d.png
Congratulations to those who bought the bottom (to the day) and have now sold?
Just highlights the ridiculous nature of watching a daily price tracker.
Congratulations to those who bought the bottom (to the day) and have now sold?
Just highlights the ridiculous nature of watching a daily price tracker.
I'm not saying there aren't deals out there even in a falling market.Don't need to sell. Bought mid last year, now worth at least 25% more, at 80% leverage that's 100% RoE.
Weren't you talking about building some $2m apartments a few years ago around the peak of the Melbourne market? How's that coming along? Is the "25% increase" on the land you've bought to start this project?
Nope, picking up apartments from distressed sellers in SEQLD and West SYD.
CF+
Peter
Just highlights the ridiculous nature of watching a daily price tracker.
So do you think Melbourne prices go lower or higher from here Shadow? Do you think the nominal bottom is in for Melbourne?
Do you have an opinion to share on the Victorian property market/state of it's economy or are you just here to provoke a reaction?
where are these job losses Kathryn?With a hold on coal seam gas,and 27,000 jobs reported loss because of it, do you think this will affect the economy a lot?