Originally posted by kingbrown:
Picking one dodgy statistic to make a point is SO last year.

Fun facts :

WA produces 40% of Australia’s export revenue. Yes, forty percent.

In other words, Perth bust = AUSTRALIA BUST.

Yes, …. your point is ????????????

[
When you travel internationally, you will find that even Sydney ( or Australia) doesn’t rate on the world stage as being newsworthy.

Hmmmmmm …. guess thats why when you look at LA ,NY, Tokyo, Paris amd London, one of them has dropped out of the the five most expensive cities in the world to make way for Perth
(Based on income to med…[Read more]

ABC current affairs dedicated their first 45 minutes (1 hour ) of the Midday bulletin covering the crash in Sydneys outer west.

Not a slump a crash, property selling for 850K at castle Hill by owners eventually sold for 680k by Bank who would no longer wait.

Some agents say 50-90% of auctions are Mortgagee but banks are instructing agents not to…[Read more]

Geeeeeeeeeee I hope they are bringing there own water with them

Oh had been wondering why ……. this time … Perth is different.

And what has been driving the economy. Mining, not yet, WA still has a infrastructure lock that has yet to be addressed. Quote ABC mid day news last month

What has been driving your economy is the building. People are coming into to your building industry, and for each one…[Read more]

Oh had been wondering why ……. this time … Perth is different.

And what has been driving the economy. Mining, not yet, WA still has a infrastructure lock that has yet to be addressed. Quote ABC mid day news last month

What has been driving your economy is the building. People are coming into to your building industry, and for each one…[Read more]

Originally posted by zen1:
[brI don’t know if it will have a lot of impact in WA though.

If it doesn’t then they will just keep coming.

“After all, this whole mess is just the fault if those greedy arragont @#$$% in WA”

“Good idea John, but maybe we should leave out the #$%%^ next Wendnsday….how about a new tie..the pink will go nicely

Two pieces yesterday struck my attention.

First was by the ?????? Institute, which said home loan affordabilty has hit a three year low and is now comparable with the good old days of 17%. …oh the memories ( I hit 19% myself)

Other was from the REI that said if parents could sell their grandchildren into indentured service on the futures…[Read more]

I think the biggest issue they should look at is the bogus depreciation schedules produced by developers flooging their products.

Have seen units bought for $150,000 from a developer with $133,000 in depreciable costs and capital allowances.

Hmmmm $17,000 to cover land, profit and selling fees.

Don’t think so.

Mentioned to a ATO guy who…[Read more]

This property is starting to figure “large ” in my life, so I am guessing that I may get to the bottom of this eventually.

Just have a bad feeling over this and it is getting worse.

Will update on this 56.25% CRASH !!!!!!!!!!!! …. later

Originally posted by wealth4life.com:
[

– nett worth over 5 mill – more than 5 properties –

Well wealth … finally fixed the abacus for the fifth time, (those cheap south east asian sweat shop strings arn’t worth a damm) and whipped off the shoes and soxs, …… and the results are…..close, …..maybe if I hadn’t wasted so…[Read more]

Kicking this one round last night, I think I may have a guess at what happened.

Bought for 2.4Mill, substantially over the then market.
Contract made for 3.2Mill
Valuer comes on board, together, with solicitor, vendor, broker
Banker gets sucked in and lends to 70%.
BINGO.

I could be wrong, but just a feeling after the “on the run comments”
I…[Read more]

Originally posted by Mikey P:
What area did this all take place? Anything $2M or below for Ocean front multi unit site on main land Australia is an absolute steal!!!

It was a public auction, well advertised, lots of attendance, guess the locals must disagree…

Foundie… I thought I was the only one who felt like that….

Agree, a hell of a lot of people down the hole who deserve it more..

Yeah wealth, I think we are now seeing the turn. In Sydney, the market leader (up….then down) has had almost all negative press from the conservative Sydney Morning Hearald.

This weekend the Tele the faithful mag of the greater west, ran a cover storey and two pager on the new home buyers (with plasma…..they just had to get that in ) who are…[Read more]

Originally posted by simple:

Property prices ripple.

If the cellar dwellers loose then it ripples through the rest of the system.

It ripples up and ripples down.

If the interest rate pressures the bottom end, and it really is, then it does not matter whether I fixed at 1% for the rest of my childrens lives, the price of my real estate will be…[Read more]

Originally posted by zen1:
What the media says doesn’t matter.

Hmmmmmmmmmmmm…….. not sure on that….if you run Sunday paper specials on how much all our homes have gone up in the last year, Hot property shows, Reno shows and the biggest hit of 2003 the Reality TV show the BLOCK, then you have a boom.

“you can’t loose on real estate”

If…[Read more]

[
Are you working on the theory that the human race stopped spawning at some point?

Not quite but I know that the grant plus no deposit home loans brought a lot of purchases forward, there were some very young investors taking advantage of the grant, some not quite in High School.

On that basis I don’t think there is a even spread among the…[Read more]

Originally posted by celeste:
I think Perths bubble will slow or burst for different reasons than sydney and that the bottom end will be safe. Affordability and the increase in the FHOG (I found out it is true about and increase to $14000) will keep the bottom end boyant.

Normally I try to keep my posts light and humerous (well I laugh when I…[Read more]

Back to the drawing board and do some more research. If you were a professional and advised on that you would need a Prof Indemnity the size of the Tassie budget to cover you.

Really basic errors