Queensland housing bottomed out in December,news today states housing prices have resin 1.8 % average Brisbane home 500k sales are on the up so its not all doom
First I was like
Then I read some more and I was like
Then I got to PM33 and I was like
Adolf, with "The Resecession" you just proved Kiteboy's Rule #1 yet again. Thanks.
KBR#1: If you can't spell it, you can't understand it, so stop talkin about it
^^^ Little tip my man, next time you quote someone, don't repeat their pics unless you really need to. Save everyone scrolling scrolling scrolling.
pweedas,if nothing happens in the following 2 years don't mean i'm not right.
The people that run the system, plan change over a longer period,20,50,100's of years.
Many have lost around 40 percent or so already from their super with the drop in the stockmarket.
Most are hurting through the corporate takeover, resulting in higher utilities,fuel,food etc.
Are you sure pweedas you weren't brought up drinking tap water?
You are aware 'it' can pacify you to the truth!
Why would I sell my house if my mortgage is less than rent?
How do you homes are over priced 50%?
What evidence do you have? Who gives a rats ass about what it was like 30 years ago, there were stuff all 2 income families compared to now.
How many people are moving to Perth this year?
How many capital projects are coming online in the next 3 years?
What is the cross price elasticity of demand for property over immagration?
If you can't answer them questions are you qualified to express your opinion?
HMM I dont know about this. It seems when people panic it becomes a buyers market. If you have the cash. I buy shares when people panic, I buy houses when people panic, I am not rich but it gets me by. I sometimes wonder if we are playing into investers hands by buying into the cattle stampede. Investing is sorting through the bull****. There are good buys even in the worst of times. People will always need food and shelter, the basics.
Some of you may know me from my ~ estimate that Aus will enter recession in September due to a perfect convergence of taxes and global BS.
But until Aus has ~9% unemployment house prices aint crashing country wide.
Banks aren't lending to developers.
Immigration is as buoyant as ever.
Some say the governors are fudging the numbers and we're already at 10% unemployment cos people who work ~1hr a week aren't counted... I say that's bull bcos bad loans are still very low.
Stock market correction this year, a high maybe.
Recession, probably due to poor management and demand.
House price crash no.
Inflation higher YUP.
Gold and Silver? They're fix by Comex, so what ever the bankers want it to be worth... it's mostly derivatives now anyway... our couple ounces here and there don't mean much, vs the trillions in paper gold... yeah sure if that con game goes bad, the whole system implodes and then what are you going to do with your metal? Take it to the hospital? Buy food?
Last time the government took it off the people in exchange for paper.
Bottom line: We either all swim or we all drawn... or hmmm we kill others and us them as rafts.
I say we swim; for that we need to find a new planet, educate the people in engineering, science and maths.
Build spaceships, mine asteroids, develop new propulsions systems or even find a way to fold space... like the Spacing Guild.
Baaaaaaaaaah! Time to sell all you have, buy North Gurl van and go for life time trip.................. 21/12/12 is approching fast......... what they saw in china was not a solar eclips but planet X or Nibiru or whatever you want to call it entering the solar system time to enjoy what ever is left!
Aus banks have been very conservative with their lending, much more than countries that have plummeted. My call is that although it will take a while before things improve and 'things' might change, but it will be relative globally & in effect we'll stay a prosperous country that will 'ride-it-out'.
As for property, an old guy (who was a believer in physical assets, not fiscal) once told me "if things go pear-shaped in the economy, you can at least pitch a tent on a block of land...you can't do that on a share-portfolio".