Forum Replies Created
- ummester wrote:Scamps right,
It's here
And here
It's goods and service relating to households and housing – not the houses themselves. The cost of a house purchase is in the CPI (the fees etc) but not the cost of the house itself.
thanks Unmester, but at no stage did I say the cost of house is in CPI, I specifically said rents and mortgage payments.
just to finish this topic finally and clear out facts from what various people think.
I called the ABS, they pointed me to this paragraph in a doc explaining CPI:
10.51 Third, the CPI basket includes items that are mutually exclusive for individual households. For example, both the rent payments of renter households, and the amounts paid by owner-occupier households for purchasing their principal residence are in the basket. No single household will incur both these expenses on their principal residence at the same time.
if anyone is intrested the doc is: http://www.abs.gov.au/AUSSTATS/abs@.nsf/2f762f95845417aeca25706c00834efa/afd2ae8c96b203f1ca25705f001ecaec!OpenDocument
as for posting drivel scamp, that is hilarious coming from you of all people, although of course you wouldnt see that.
I have my moments but I would be happy for anyone to look at our collective posts and decide who is the drivel generator and who tries to contribute something to the benefit of others, rather than stroking their egos and other parts.
excuse me now, I have some actual property transactions to do
the market is soft, you dont know what you are doing in two years, you have a good income level
why put the best part of a million bucks on the table and lock yourselves in? unless of course you are feeling the need to have some roots somewhere .
why would anyone waste the time going toe to toe with him? look at the content ….random -ve stuff , presented as fact and usually not sourced, causes /effects/economies/countries all mixed up in any way that supports a single line of argument. Just like the circus , one trick ponies get boring.
thats not a rant newbi2 just fair comment I reckon , and generally that would be my first reaction also……..but……when all these people do stupid stuff en masse it drags the overall system and yet again we all pay. I dont have an answer, it seems that we are screwed either way if we leave it to boom and bust.
" I mean, how much debt can they safely create?"
unmester, recent times would lead us to say that whatever the number is , its a damn sight less than what they have already done…sadly. But to be fair to them (did I say that?)….they are just a reflection of the general greed levels
I agree that the cost of the house isnt there, the cost of buying or renting it is
QLD stamp duty changes applied to all buyers not just FHBs
summary here http://garvey.biz/2008/06/04/new-duty-rates/
" CPI would capture only the cost of consuming owner-occupied housing services ………"
this un referenced quote demonstrates that housing costs arent in the CPI???? que? what do you think the " the cost of consuming owner-occupied housing services " is comprised of?
scamp why dont you look at the ABS site before getting so pathetically strident. your just an IT guy remember you dont actually know everything , none of us do.
gee housing is probably heating to warm up the house…… are you just joking or grasping at straws?
really I cant do much more, what part of housing do you not understand?
no you dont leave births out scamp, your clearly not a parent yet, just think it through for more than 5 seconds before you feel the need to make condescending remarks. New arrivals in the family often trigger requirements to renovate or move, especially if you are a non mcmansion start out small couple. This is a contributor to the market for housing
mackar wrote:why … if what you profess is correct, & I'm not shooting you down here… would several revered analysts ie: matusik,
bis shrapnel etc
state recently in their 2008 – 2011 predictions a 22% raise in property prices & similar for rental increases..?? (I know I have just raised one of my properties rents by aprox 18% this year alone… & without having to get a new tenant… I realise this is an isolated incident mind you).do the property analysts have a second agenda??
does anyone feel that my initial comments re: the stamp duty concessions in s.e.q. etc hold any water??
What is the relief provided as a % of an average house purchase ? With interest rates hovering around 9% give or take, my guess would be that the once off gain wouldnt be enough to encourage people to take the leap as affordability hasnt changed. A little interest drop and you may see your corner of the world become active quicker than other places however.
Terryw wrote:Some people need protecting from themselves. I had a friend who was bored with her rental property and having to cover the shortfall each month so she just stopped paying the loan. She just thought the bank would take it and sell it for her!!
creative thinker….how did that work out for her?Scamp wrote:yarpos wrote:CPI is driven by 90 different classifications. housing (rents and mortgages) is just one of them and not the single key driver of inflation.BTW inflation isnt that high, 4 and a bit given inflated borrowing global costs and elevated fuel costs couldnt be called disaster.
Hi Yarpos,
I wasn't talking about CPI, I was talking about inflation. Houseprices aren't even IN the CPI, which is why you 'think' inflation is only at 4%. If oil prices and house prices and all the other high costs were taken up in the CPI , you'd see CPI of 10% or more. ( a lot more )
cost of housing (rents, interest) is in the CPI actually, as is transportation related costs including fuel. Its a weighted basket of items as none of us spends all our income on these items (however much we bleat) . You can make up your own number if you wish, why stop now.
scamp knows…he's not really just a dutch IT nerd with delusions of grandeur, its just a cover for his real role as global economic modelling consultant to the world bank. Just be grateful he finds some time to spend with us………..
not really, its consistent with you other posts , I just thought you had something else to say
intel wrote:Samp were are you from ?he's in the Netherlands and by his own statement has never been to Australia
ummester wrote:yarpos wrote:ummester wrote:NOTthanks for that valuable contribution, what were you not-ing about?
Yarpos, where is your literal undertanding. The thread was entitled property boom or not. My answer was quite clear.
thanks for the clarification, just thought you may have something to add….thought it was a forum not just a voting system
CPI is driven by 90 different classifications. housing (rents and mortgages) is just one of them and not the single key driver of inflation.
BTW inflation isnt that high, 4 and a bit given inflated borrowing global costs and elevated fuel costs couldnt be called disaster.
"devo76 wrote:
rising rents
Wrong again. Rents are DROPPING. Like I have said many times before."
No Scamp he is not wrong, he has a different opinion to you. Rents are now rising, they may fall in your opinion. Despite your towering ego , you saying something does not automatically mean its a fact
