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 the media selectively pulls out investment horror stories as we are starting to see in newspapers you have the start of the slump (Sydney) .

Now once the 6.30pm current affairs shows have footage of some couple being physically put in the streets, (in 1991-1992 it happened ….even in Mosman) then you have public perception that property is poison…….

What the Reserve says is only a small part in this wonderful melodrama….

Normally I try to keep my posts light and humerous (well I laugh when I read them…..) there is way too much of a pissing contest on here at times, though it has improved since someone pulled the plug, and way too many people have equated speculation to investment.

Having said that …….seriously how many people who qualify for a first home owners grant, have not taken it up. Have they now changed the rules so pets qualify, ….there was a post before about a pet needing a “savy accountant” to fake there tax returns before giving them to there broker.

Also where have you heard about a first home owners grant increase ????

That was also doing the rounds of Sydney back in 2004 when the bubble popped.

Personally think it would be suicide for honest John. Don’t think the western Sydney seats who won him govt last election would think that was money well spent.

Could of course be wrong…….

Foundation ….just because your parents could afford to send you to primary school ….dosn’t mean you can flaunt it here……

I’ll now go back to my rolled up newspaper in the septic tank and have a good cry…

The first time I remember the famous “this market is different” was on the Gold Coast high rise in around 1982. Even four Corners ran a episode title something like the Bubble that can’t burst. It was different because ………overseas tourists would support future growth until the population of the Gold Coast exceeded that of Tokyo.

1984 market halved.

Forget why 1987 stock market was different , but it was, then the tech boom of the 1990s was different “because dummie it was about computers, try and stay on the same page, sorry gotta run thats my flight being called for Calif…no I know nothing about computers, I’m going to run a IT company, why do I need to know computers to do that”……had a conversation like that with a guy with abad suit and worse attitude

And lastly Sydneys property market was different, in 2004 we were told to expect lower growth of only 10% pa for the next few years until the market took off again, then we were flat but now is a great time to buy because the market is picking up, then it was I’m not selling for that, the guy next door got $@#$ two years ago…..

Interesting where we go from here…

Oh where was I ….. Perth is different…….right………

That does not sound very cheap at all, though I am not speaking as one who has ever lived in one.

kind of reminds you of the Polices mans Ball skit, with the

…..I used to live in a rolled up newspaper in a septic tank, but tell that to the people of today and will they beleive you….

Seth my hat is off to you. Always wanted to but never had the time (lousy damm time management system…..)

Just some interesting data with no where else to put it.

Heard on ABC some business person who made two addresses in same week one in Perth and one in Fairfield, in Sydneys west.

Commented that in Perth was told of building laborers earning up to $80 per hour, while in Fairfield unempolyment has hit 11% with property down 25% in a year.

GO WEST YOUNG MAN….then everyone can work in the building industry building more housing for more people coming over to work in the building industry … oh sorry forgot that is what is already happening

Also ABC midday news covered the rise in arears on new loans up from around .02 in 2001 to .05 today with 1% in Sydneys west.
Lowest employment in 30 years and historically low interest rates.
Hmmmm strange.

The Property Council (or something ) came out with that Sydney market will not bounce back until 2008. (hey next year is 2007..maybe I should get in now and beat the RUSH ….)

Got to go now and see my finance broker about a new kennel, maybe my dog could use a low doc loan, must be an accountant out there who can give me a tax return

No you’ve got it completley wrong you don’t buy children, well not as it is recognised by the law, but I agree it was a emotional issue.

Me personally, I wanted hamsters, much easier to keep,

Oh… were you talking about the properties..

Perth is real weird now it is a bubble on a boom, or a boom boom or…..whatever.
Rest of Oz floating (except NE Qld and Darwin…..) US RE going backwards for while … and I think it recently became official but Perth is Nuts.

Reminds me of Japan late 80’s or Gold Coast 1982 ( even Four Corners did a program and featured the reasons why this bubble would not burst ) probably fired the program manager, these days they would get a class action against them.

We are watching wild rampant specualation, made without rational judgement.

But ain’t it great to watch !!!!!!!!!!

Agree with your gut feeling.