topic Re: For Those Who Like To Dabble In Real Estate in Community Spirit

For Those Who Like To Dabble In Real Estate

icyfroth — Tue, 08 Jan 2013 23:20:21 GMT

I was shocked to see this headline when I was browsing through the news this morning:

Bloodbath to hit Australian real estate, global property analyst Jordan Wirsz says

AUSTRALIA'S love affair with property is about to be tested amid predictions prices will plummet by as much as 60 per cent, with capital cities hardest hit.

That’s the Armageddon-esque warning from leading US real estate analyst Jordan Wirsz, who believes Australia is heading towards a property bloodbath as the global economic downturn spreads to China and eventually here.

http://www.news.com.au/money/property/bloodbath-to-hit-australian-real-estate-property-analyst-jordan-wirsz-says/story-e6frfmd0-1226248472949

Re: For Those Who Like To Dabble In Real Estate

the_hawk* — Tue, 08 Jan 2013 23:33:41 GMT

Hi Icy I wouldn't put to much faith in US experts, after all they didnt see it coming in their own market and our housing market is very different.

There market fell over because of a very high number of very high risk loans and a very high number of properties came onto the market at the same time due to repossessions and the market couldn't cope with the surplus properties, then add the general down turn of their economy

While I dont believe our economy is any where as good as our government would like us to believe it is still a little better than the US.

The market that would be hit the hardest in any downturn will be the top end of town in the very over priced upmarket areas

For the general market to collapse 60% we would have to move into a magor depression and house prices would not be a huge issue compared to that situation

Thats just my opinion

Re: For Those Who Like To Dabble In Real Estate

vintage-star — Tue, 08 Jan 2013 23:41:53 GMT

Weren't most property loans financed by two huge lenders that collapsed due to the sliding economy?...... One of themI, I think, was called a woman's name beginning with "M"...... I am sure someone knows it.

Re: For Those Who Like To Dabble In Real Estate

monstersinthedungeon — Tue, 08 Jan 2013 23:51:21 GMT

They were very strange names, Vintage, I think it was something like Fanny May and Freddie Mac?

Re: For Those Who Like To Dabble In Real Estate

vintage-star — Tue, 08 Jan 2013 23:56:25 GMT

Yes!..... I think you are right Monters, they

monopolized the real estate lending industry......thanks for that. 🙂

Re: For Those Who Like To Dabble In Real Estate

icyfroth — Tue, 08 Jan 2013 23:59:00 GMT

I actually wouldn't have the wherewithal to invest in property, but I wonder about the large swathes of land being cleared for housing development.

Who's got so much money to invest?

Re: For Those Who Like To Dabble In Real Estate

vintage-star — Wed, 09 Jan 2013 00:06:19 GMT

Hello Icy, there are a lot of people with the money to invest and for those people the market is pretty good atm........some investors are from overseas and many are just ordinary people here in Australia.....I don't claim to know heaps about this subject but have heard that the real estate industry in Australia is expected to improve this year!

Re: For Those Who Like To Dabble In Real Estate

not_an_eloi — Wed, 09 Jan 2013 01:09:37 GMT

don't know why you'd be draggin' up an item dated January 20, 2012

Re: For Those Who Like To Dabble In Real Estate

icyfroth — Wed, 09 Jan 2013 01:16:41 GMT

don't know why you'd be draggin' up an item dated January 20, 2012

Oh!

I didn't even look at the date, eloi, thanks for bringing that to my attention.

Why would they put that in the news a year later?

Re: For Those Who Like To Dabble In Real Estate

freakiness — Wed, 09 Jan 2013 03:57:31 GMT

don't know why you'd be draggin' up an item dated January 20, 2012

Perhaps because twitter has been spammed with old news corp stories for the past 2 weeks.

Re: For Those Who Like To Dabble In Real Estate

freakiness — Wed, 09 Jan 2013 04:02:09 GMT

Oh!

I didn't even look at the date, eloi, thanks for bringing that to my attention.

Why would they put that in the news a year later?

It's not that they put it in the news a year later.

By spamming #auspol with old news links some people click to see the story, not knowing until they get there that it is an old story.

Lots of clicks pull the story back to the front page online.

Re: For Those Who Like To Dabble In Real Estate

icyfroth — Wed, 09 Jan 2013 04:54:50 GMT

ok thanks freaky 🙂

Re: For Those Who Like To Dabble In Real Estate

freakiness — Wed, 09 Jan 2013 05:11:06 GMT

Spambots have been regurgitating old news.

Mostly old news to make Gillard look bad.

Re: For Those Who Like To Dabble In Real Estate

icyfroth — Wed, 09 Jan 2013 05:28:12 GMT

As if that was necessary lol

Re: For Those Who Like To Dabble In Real Estate

lightningdance — Wed, 09 Jan 2013 05:29:32 GMT

"Spambots have been regurgitating old news.

Mostly old news to make Gillard look bad."

:^O no need to regurgitate on Gillard or to go back that far, she looks bad most of the time., especially when she talks the spin. :^O

Re: For Those Who Like To Dabble In Real Estate

freakiness — Wed, 09 Jan 2013 06:08:26 GMT

"Spambots have been regurgitating old news.

Mostly old news to make Gillard look bad."

:^O no need to regurgitate on Gillard or to go back that far, she looks bad most of the time., especially when she talks the spin. :^O

In that case why did they bother?

Re: For Those Who Like To Dabble In Real Estate

jonnjenn — Wed, 09 Jan 2013 06:23:59 GMT

In that case why did they bother?

Dare I hazard a guess?

So lightning dance could improve her skills???

Re: For Those Who Like To Dabble In Real Estate

ufo_investigations — Wed, 09 Jan 2013 06:40:27 GMT

Well, if the info is a year old we can now say it was wrong as property prices didn't fall by 60%.

As far as I am aware history shows many people are waiting for property prices to fall before buying. The only problem is for those waiting, that day has never come and perhaps never will.