When is the next Sydney "boom" due?
- Thread starter enoughwealth
- Start date
Hi all,
Well done Lobboroz, that was the one I was trying to link to. The info is on Pg 8.
There is some very interesting information on that page.
For example, notice how the median for Perth (at the height of the Poseiden resource boom) was about 40% above that of Melbourne and was nearly as high as Sydney, but 4 years later had hardly moved, despite high inflation. Meanwhile both Melbourne and Sydney had good increases.
bye
Well done Lobboroz, that was the one I was trying to link to. The info is on Pg 8.
There is some very interesting information on that page.
For example, notice how the median for Perth (at the height of the Poseiden resource boom) was about 40% above that of Melbourne and was nearly as high as Sydney, but 4 years later had hardly moved, despite high inflation. Meanwhile both Melbourne and Sydney had good increases.
bye
I've read that that article by Peter Ableson and Demi Chung before. At page 8 it has annual median house prices for all Australian capital cities (at least from 1986).
Owning an IP in Darwin its interesting to see that Darwin was the second most expensive capital city by median house price for 5 years (in 1995, 1996, 1997 1998 and 1999).
Ajax
Owning an IP in Darwin its interesting to see that Darwin was the second most expensive capital city by median house price for 5 years (in 1995, 1996, 1997 1998 and 1999).
Ajax
to the contrary, I think everyone wants to believe that this time it wont be different. why? because familiarlity is a nice refuge. it also makes life easier if you can just pick up yesterdays history books. unfortunately life isnt that easy IMO. I have argued many times that every day is different. there have never before been as many indians and chinese as there are now on this planet. similarly there never was and may never be a similar scenario to Poseidon either.
it depends how far you want to take it... London use to be the centre of power throughout the world, however I think that is now significantly different.
when is the next Sydney boom due? many factors can drive that. significant under investment in housing even in a local economy in recession could result in price pressures. these are micro issues that are unrelated to the commodities cycle, however the significant tax cuts flowing to taxpayers from the commodities cycle could have a hand in things too. perhaps if the commodities boom collapses, then the national economy really dives and fiscal policy tightens we can all be in for a rude shock
predicting booms is a mugs game - no one knows. experts were saying the Perth boom was over 5 years ago. they should be charged with negligence!!
it depends how far you want to take it... London use to be the centre of power throughout the world, however I think that is now significantly different.
when is the next Sydney boom due? many factors can drive that. significant under investment in housing even in a local economy in recession could result in price pressures. these are micro issues that are unrelated to the commodities cycle, however the significant tax cuts flowing to taxpayers from the commodities cycle could have a hand in things too. perhaps if the commodities boom collapses, then the national economy really dives and fiscal policy tightens we can all be in for a rude shock
predicting booms is a mugs game - no one knows. experts were saying the Perth boom was over 5 years ago. they should be charged with negligence!!
Ausprop,
The "This time its different" quote is usually related to the underlying cause of booms - human emotion. So in that respect, nothing ever changes, because we humans are too obsessed with fear and greed to stop things going too far. People tend to trot out that quote when trying to justify prices on an economic level - even when speculation has pushed prices well beyond that.
I agree that every boom is different - its quite likely that another city may lead the next upturn rather than Sydney. I for one wont wait for Sydney to "start" the next boom if I see every other city going mental.
The "This time its different" quote is usually related to the underlying cause of booms - human emotion. So in that respect, nothing ever changes, because we humans are too obsessed with fear and greed to stop things going too far. People tend to trot out that quote when trying to justify prices on an economic level - even when speculation has pushed prices well beyond that.
I agree that every boom is different - its quite likely that another city may lead the next upturn rather than Sydney. I for one wont wait for Sydney to "start" the next boom if I see every other city going mental.
Similar threads
