You will just love this....
- Thread starter mam544
- Start date
That is gold.. Thanks for sharing this..
Its funny I was talking with an old school mate the other day and he was saying that his mum paid 16 000 for her first place in Brisbane approx 12k north. Now worth about 450k.
He doesnt think the trend will continue..
I pointed out that our children in years to come will be saying yeah dad but you guys bought for 500k, we now have to pay 2 million to get in, you got it easy...
He disagrees this will happen..
Its funny I was talking with an old school mate the other day and he was saying that his mum paid 16 000 for her first place in Brisbane approx 12k north. Now worth about 450k.
He doesnt think the trend will continue..
I pointed out that our children in years to come will be saying yeah dad but you guys bought for 500k, we now have to pay 2 million to get in, you got it easy...
He disagrees this will happen..
$9,750, I want 200 hundred of them 
Property prices go up up, down and sidesway. When you look at the hundred year graph, they always go up.
I think my grandmother paid $16,750 for her house 50 years ago, today worth millions.
Property prices go up up, down and sidesway. When you look at the hundred year graph, they always go up.
I think my grandmother paid $16,750 for her house 50 years ago, today worth millions.
My parents sold their first house in Balmoral in 1966 for about two thousand pounds. They could just have managed to keep it as a rental but they were told by everyone that (at the time) inflation was so low that prices were not going up. Last sale was probably around $2M. Obviously in that time it has been renovated, but not changed substantially. It would now be one of the prestige streets on the southside. It was in a street on a ridge with a full city view. Back then the city view was only the city hall, so nobody was paying money for a view.
It was an old house on such a steep block that there were 120 steps from the road to the yard, which sloped away so we couldn't play on it. People didn't want this side of the hill as it was the other side, facing the Gateway Bridge (not there back then) that everybody wanted because they were new builds.
I know they wish they had kept it, but you live and learn.
It was an old house on such a steep block that there were 120 steps from the road to the yard, which sloped away so we couldn't play on it. People didn't want this side of the hill as it was the other side, facing the Gateway Bridge (not there back then
) that everybody wanted because they were new builds.I know they wish they had kept it, but you live and learn.
Your Grandparents lived through the Great War, the Great Depression and WWII. If you had the chance to tell them property doubles every 7 years they would probably laugh at you.
Property is cyclical with long waves that you have to look for. It is possible that we have experienced The Last Great Property Boom.
Property is cyclical with long waves that you have to look for. It is possible that we have experienced The Last Great Property Boom.
Hi Sunfish
I keep hearing these phrase however, dont look too much into it.
The people that are saying it? what backup do they have to support these claims? curious
Possible, sure. It's also possible we'll just have a repeat of the same: up and down cycles but up over the long term.
Alex
None of this matters anyway!!! To say a house in 1969 was worth $9,000 & today it's worth $500,000 or whatever is irrelevant!! My folks 1st house sold for $18,000 35 years ago; today it's probably worth $300,000.
Could you have bought 3 or 10 of those $9,000 houses in 1969? No! because $9,000 would've been a LOT OF MONEY back then. Wages might've only been $2,000 p.a. When you're 70, you'll be talking to your grand kids or great grand kids, saying the same thing..."Oh my first car was $20,000 now they're $200,000!" It's all in perspective to the time.
Could you have bought 3 or 10 of those $9,000 houses in 1969? No! because $9,000 would've been a LOT OF MONEY back then. Wages might've only been $2,000 p.a. When you're 70, you'll be talking to your grand kids or great grand kids, saying the same thing..."Oh my first car was $20,000 now they're $200,000!" It's all in perspective to the time.
Not only irrelevant but not always true. The house I'm in now cost me $10k in '68 but if you offered me half a mill for it today I wouldn't let you out of my sight till I had my money.
Truth is, it's prolly worth 300 now. It was median at the time, on a 1012 block which has subsequently been rezoned and it's in a solid suburb. There is no blanket rule.The reason I say we may have already seen the best years is that I do not believe one can take a graph from a few years and extrepolate it. Things change, constantly. What's changing now is peak oil (a believer) global warming (a sceptic) and the collapsing of the American Empire (a given). The first half of this century may be as catastrophic as the first half of the last. The Yanks are not giving up without a fight.
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Good point C.I.... we should all be buying 200 houses NOW! Because in 40 years time people will be saying "Only $600,000? I should have bought 200 of them!"
Then again, maybe not. How do you know?
Not 100% sure... I'll get back to you on that one (in 2048 if you're still around).
Excellent post!
I note the moral value reflection of the time when the point was made that the 'couple were planning to marry' as that might be a point that would sway the seller.
Have you ever met someone like this who has actually done some study though?
The longer you take a time series with property the more you seem to track inflation, which makes sense once you consider it. Though I'm only aware of very few multi century studies. Any gut reaction you might make to such a statement needs to be examined though, an investment that tracks inflation over centuries can be wonderful for a lot of reasons.
Yep.. Those figures makes sense, a lot of properties in Brisbane were going for similar figures (say 4-9k) around that time.
There are some similarities around debt levels etc. There are also differences, like inflation targeting, household formation, demographics, etc. Those suggesting that the price growth seen in this particular property over the past 40 years will be repeated, may have to look at how wages grew over the same period. Will that growth also repeat? Probably not if the RBA is successful in their goals.
It is possible property prices will never rise higher than they are now, as suggested in this thread it is also possible a meteor will wipe us all out.
