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Vic Wasteland Thread

R31Nismoid

By R31Nismoid,
in Victoria

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joeyjoejoejuniorshabadoo
joeyjoejoejuniorshabadoo

probably worth more than your D1R's

Mohsen
Mohsen

i kinda want one. name him al pacacino.

Birds
Birds

You laugh now, but when I'm at a formal occasion with a shitty DJ and they need someone to drop Dre beats...I have something up my sleeve.

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Rekin Grand Master

Rekin

Posted
Posted

In November 2010, The Weekend Australian reported that "Treasury officials preparing the so-called Red Book of briefs for the incoming government were as divided as private sector economists about the strength of the property market."

In December 2010, an MLC investments strategist observed that "residential property looks absolutely obscenely overvalued and seems to offer very, very poor investment prospects."

In March 2011, Morgan Stanley global strategist Gerard Minack said that "we've had 20 years where the Australian consumers have been willing to borrow more to buy an asset that they believe always goes up in value. The classic sign of an asset bubble." and that "home prices are 30 to 40 per cent above fair value."

In October 2009, it appeared that the pricing of homes was being inflated by actions taken in October 2008 aimed at addressing the fallout from the GFC. Housing was identified as an asset class worth shoring up against the type of deleveraging seen in the stockmarket.

The government increased assistance given to first home buyers as part of its 'Economic Stimulus Strategy',. A substantial reduction of RBA interest rates also played a part in maintaining prices

2010: November - The RBA raises interest rates 0.25% to 4.75% citing the "economy is now subject to a large expansionary shock from the high terms of trade"

2011: February - New housing loans approved by Australian banks fall 5.6 per cent to a 10-year low in February.

2011: March - Prosper Australia launches a campaign for a "buyer's strike" in an effort to drive down prices.

2011: April - Melbourne median home price falls by $36000 (6%) to A$565,000 in March Quarter.

2011: May - The number of properties for sale in Melbourne double.

2011: June - Number of home loans in arrears 90 days overdue, rises to 15 year high.

sheep-falling-off-cliff.jpg

The only sheep are the ones who keep regurgitating the same theories.

Whats your point?

If house prices are dropping, that means the people who were on the border of buying a property now can = Win

If house prices are dropping because people cant afford to buy, that means more demand on rental properties which means larger return on investment properties. = Win

So cheap house prices & increased rental demand sounds like good times to me, but you sheep can keep spreading your theories on doom and gloom.

So what is your point exactly instead of regurgitating stats/theories which have no key message behind it.

Flynnn Grand Master

Flynnn

Posted
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Ey dawg ey... there's a shit storm heading our way, best prepare your angus otherwise you're going to get ur angus swept awayh in all this blizzard babeaa. I've seen the effects of a busted asset bubble, it's quite catestrophic brah. People be sleeping in the streets and sheet....

Brb, gfc 2 heading your way

JEPPE Mentor

JEPPE

Posted
Posted

Just saw a massive stack on the Monash Fwy inbound just before the Berwick-Cranbourne Rd overpass. Car had clearly flipped, cops blocked off whole Fwy. Couldn't even tell what car it was. How the heck do you flip a car on a freeway anyway, would have to do some massive moves.

The back up of traffic is incredible! I'm glad I'm heading the opposite way.

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