Not to mention that half of the posters live overseas, have no clue of anything here other then the BS they chose to read on the net and only seen this country with the aid of Google Earth. They do have plenty of formulas to prove their point , will fake the occasional bad news story if they can't find one and ban anyone even remotely bullish. A bit like some other knowitall in here who seems to be an expert on everything around Australia, from property investing, RBA policies and even politics without even setting foot here yet.
I wonder if the link is just a crude attempt at recruiting more of their kind because they suffered a few casualties recently. Since the rates started coming down last month a few of the local members who could afford it took advantage of the low prices to become FHBs and have become less active in the movement.

I aways knew you were in denial but now you're getting into the desperation stage as well. What's the matter , our Aussie homes are to unaffordable to you ? Our Aussie dollar just returned to were it belongs, at around 70c. Anything above that was never going to be sustainable, only a fool would think that it was. I told you so last June at the same time I told you we'll be up for a couple of rate cuts before X-mas and mid 5s by next June. Oh noo , there are going to be more rate rises you said. Then you went on about how the banks will NOT pass any of the rate cuts and how by September it will be all over because of the rates resetting. Now instead of admitting you were wrong you are going on about the fall of the AUD by 30%. Well guess what Scamp, that's actually good news for most Aussies. (except for the ones planning a world tour )

Well I don't know about devo but I have found a farmers market where I do most of my shopping and my bills are actually down by 1/3.

I'm sure that oil will be $4 one day , just not at the moment since oil has fallen MORE then 30% Anyway, with oil at $2/Lt canola becomes a viable alternative and the oil producing countries will have to use mineral oil for their fish and chips.

So its January 2009 now? What happened to September which was the month we were all going to see the market collapsing ? Doesn't quite work when the new rates are the same or lower the the old ones, doesn't it.

Your fault for not wishing it hard enough, next time you have to concentrate harder and hold your breath until it happens.

Yes, I agree. Stupid RBA doesn't have a clue about the state of the economy but not to worry, Scamp will come to their rescue from Holland. Thanks to Google and the boys at GHPC, most of whom also happen to live overseas, Scam P has the answers to restoring our economy and protecting our AUD.

And what are the problems, can you please name them ?

Excuse me Scamp, 20% unemployment ? Can you please do the same and don't speak about things you have no clue about. In 1990 you probably were somewhere in Holland attending a kindy garden so why pretend you know something about Australia of 1990 ?

Scamp, if you had a brain you'd be dangerous.
Our commodities are priced in USD, a lower AUD makes up for the fall in commodity prices and is good for exporters.

I hope you did not have to pay for that secret, if you did you better ask for your money back.
The reason they dropped it is to restart the economy, and the reason for a larger then expected drop is probably because they know the ECB will drop theirs at the next meet by at least 0.5%.

What if they were locked in at 7% or more ? Guess what, we'll have another cut before X-mas and yes the banks will pass that one in full.

Because they know the other central banks are planning to do just that very soon ?

No, its not confusing. If it was me and I could afford the current repayments I'd look for a few well priced places in well placed locations and put an offer of at least 10% below asking (not all offers at once ) and see how it went. The best time to get buy a bargain is when the sheep are too afraid to buy and sellers are desperate, if rates are falling a few more times the sellers won't be as desperate to get out and you'll have more competition for the available stock. Just work out the numbers realistically and make sure you can afford the repayments and any extra costs involved in holding it until you can rent it out. Good luck.

You mean like now ? Could it be that gold has lost its traditional shine in recent times ?

Sorry but don't you mean through the floor ? When the credit crisis is over and everything goes back to normal what exactly is the point in buying gold ?

I hope so, got 2 offers in and I'm 95% confident they accept it.

Wasn't the turning point in the first quarter of 2008 and September was to be the final straw, or was that something else? How long do you reckon that "while "is in calendar months ? I'd like to mark it up so I know when the market is at it slowest and buy at the bottom .

Actually it was probably sea shells, maybe we should collect them as well ? After all they are as useful and more interesting then a bar of gold or silver.

A bit hard to protect yourself from rain using a gold bar. How would your gold bar do against a tin of baked beans if the economy collapsed and the scenario that you're buying the gold bar as protection against would actually arrive ?

Maybe in the times when gold was used to mint coins. These days its just a crutch for insecure people and if the chips were down your gold bar would be just as useful as a lead bar. But hey, its all about keeping up appearance isn't it.

No, you are right. If holding gold makes you feel more secure and helps you sleep at night then who am I to say you are wrong. Hoard all the gold you can and good luck to you however if the system fails and currency becomes useless then I don't believe you'll have much use for your bars. Personally I'd rather hold a nice piece of land and if things went bad maybe a few fruit trees, building tools, water purification pills, some fishing gear, etc. Makes more sense then heading for the hills with couple of inedible gold bricks in your backpack. After all, I could swap you a bottle of water for one of your gold bars OR I could wait a few days and just pick it up from your backpack after you died of thirst. Do you see my point ?

Hahaha, trying to flog your silver bars in a property forum.  So what  happened, did your silver bars crashed AND found out that  they don't produce any yield ? If you didn't like property should have left your money in the bank instead, at least you'd be getting all of it back plus some interest for your trouble. Now you are left with  something that can only be used as door stoppers, at least until the next time there is panic and rednecks decide to head for the hills loaded with baked beans and silver.

Not really, its the same in Perth. I've been to a few open houses in the $800K -$1,200k range recently and there is definitely some interest from Singaporeans looking for cheap investment / holiday homes.

Therefore they have invested heavilly to fund thier own retirements (which makes sense) but in doing so have created an asset price bubble that is curently bursting.

If the asset (primarlily property) bubble doesn't burst soon, there will be hell to pay in 10 to 15 years when all the boomers start selling en mass, downsizing or just spending the fruits of their investments.

So which one is it ?

Sorry to burst your bubble unmester but the fact is that interest is coming down and we won't see 9% for a very long time. If the crash did not happen with rates going up then there is FA chance of a crash with rates falling. (yes I know, the banks will not pass them on. )
The percentage "drops" that you are talking about are mostly an illusion caused by the fact that a larger then average properties under $400k have been selling well (thanks to the higher rents) while the upper end stalled. Some who bought 2-3 years ago may not have been prepared for the many rate rises we had and had to sell at cost , a few repo's even below cost, but with rates falling that's mostly over. As I said before, unless a house sells for less then the previous selling prices there is no real price fall, we had the 0.xx% fall we had to have so I hope the bears enjoyed the property "crash" while it lasted . LOL
As interest rates continue to fall over the next 1-2 years and people start to upgrade once again you should see property prices returning to the average upwards trend. Or maybe you think that this time will be different ?

BTW, what happened to all them mortgages resetting in September that were supposedly going to cause a property crash ?

How would they make good if by raising rates they can only end up with a higher default rate ?

USA all the way ?
What's with that 15% stuff , you've kept all your savings in cash and now hope to make up for missing the property boom ?

is it the same as the word "could" from your link ?

Do you think that writing down a couple of hundred mill is going to make so much difference to the bottom line that they'll go under when they make a yearly 4 billion+ profit ? Just because they cry poor doesn't mean its true or you should believe them, the return on the dollar they make is higher then Telstra's in the 1990's and they invented legalized robbery.

Hahaha , only 20% ? Why not 30% or 50% ? Screw that, maybe I'll just buy a shotgun, lots of baked beans and go hide in the hills until the depression is over.
We have no Zimbabwe like inflation, the economy has slowed down faster then expected so the obvious move for the RBA will be to lower the rates. Oh yeah I know, the banks will not pass them on. Stop dreaming of 20% rate, the times when you could put 1 million in the bank and live like a king on the interest earned are over. These days you either make your money work or get used to a 5%-6% return , which after you paid tax on and allow for inflation is more like 0%.

You'd be surprised how much I can chew.

"Bite off more than you can chew and then chew like hell." – — Peter Brock