Perth,WA House Prices Continue to Fall

[londoncabby]

http://www.perthnow.com.au/business/perth-house-prices-continue-to-fall/story-e6frg2ru-1225912716743

Perth house prices continue to fall

Rebecca Lawson From: PerthNow September 01, 2010 9:00AM

HOUSE prices in Perth have continued their fall as the city emerges as one of the nation's worst property performer. According to the latest RP Data-Rismark Hedonic Home Value index, the median price of a dwelling in Perth fell 1 per cent in July to $465,000, which is on par with the national average for capital cities.

The price fall positions Perth as one of two weakest performing capital cities over the three months to the end of July, with median dwelling prices falling 2.5 per cent during the period.

Brisbane was the other city with its median dwelling price also dropping 2.5 per cent to $440,000. Nationally, city dwelling values dipped 0.8 per cent in the three months to the end of July.

“In the period between end 2008 and March 2010, Australian home values rose by 16.3%,” RP Data research director Tim Lawless said.

“Yet monthly growth rates have declined consistently since the start of the year.

“RP Data and Rismark expect to see the market track sideways over the second half of the year. There is the possibility of modest gains if mortgage rates remain in check and economic conditions improve.”

In Perth, the median price of a house dipped 0.8 per cent in July to $485,000 while the median price of a unit fell 1.8 per cent to $415,000.

 

[Aussie Prick]

This is more or less what we expect - declining prices or no growth for many, many years to come.

Anyone who wants an accurate look at the Australian housing situation should read the comments after this article. This is genuine feedback from Australians not some face saving idiots on this forum.

Dont be fooled by the morons on this forum - the Australians are unhappy with thier housing prices and the rental returns of 4-5% are pathetic compared to the 15-25% returns you can get elsewhere.

 

[ManBearPig62]

Perth, Brisbane oversupplied.

Melbourne, Adelaide modest growth or consolidating.

Sydney poised for growth.

 

[QXD]

Dumb Jackass, how many time must I tell your mommy not to let you masturbate over your own clones!

Maddy and Royalblood are not your clones. Don't deflect the issue.

You have a static IP address and you one of the few that do. All your clones have exact same IP address. Here is a clue - Verizon, Florida. How else did I compile a list of your clones the last time around. I hope you did not think that I ran some sort of algorithm just for your sake.

I was actually stunned when I realised it was the same person who needed acceptance of society and therefore any points that you raised had to seen as universally accepted by getting your clones to support the point. I was even amused that Neddy engaged seriously with your clones as though they were individuals. I tried to hint to him many times.

The other thing I noticed is that you take great pains not to overstep the nuisance threshold of axe and neddy as you need them much more than they need you. You probably hang yourself if they stop responding.

I am certainly not going to stop you.Some people cross-dress, others do some weird stuff and you have your clones to make you look impressive. Its your high and you have to live with it. Its your shortcoming. I don't think anyone of us can change that or even help. Our challenge is to ignore you completely. I am sure that it will be difficult but I guess part of society that we all have to live with.

Good luck.

This is more or less what we expect - declining prices or no growth for many, many years to come.

Anyone who wants an accurate look at the Australian housing situation should read the comments after this article. This is genuine feedback from Australians not some face saving idiots on this forum.

Dont be fooled by the morons on this forum - the Australians are unhappy with thier housing prices and the rental returns of 4-5% are pathetic compared to the 15-25% returns you can get elsewhere.

 

[Aussie Prick]

Dumb Jackass, how many time must I tell your mommy not to let you masturbate over your own clones!

I'll let our servers (who are housed in the same building in Florida as Wikipedia) know how upset you are about the current housing situation in Perth and how you wish you could be earning 20-30% returns .

Poor you, investors getting rich with 20-30% returns and you have nothing to show for it.

No need to get jealous.

 

[QXD]

Hey, good to know that a person can imagine 20-30% returns when the entire US is at 10% unemployment, property pricing crashing 50% p.a.

Really happy too that such wackjobs happen to like living away from Oz.

I'll let our servers (who are housed in the same building in Florida as Wikipedia) know how upset you are about the current housing situation in Perth and how you wish you could be earning 20-30% returns .

Poor you, investors getting rich with 20-30% returns and you have nothing to show for it.

No need to get jealous.

 

[Aussie Prick]

Hey, good to know that a person can imagine 20-30% returns when the entire US is at 10% unemployment, property pricing crashing 50% p.a.

Really happy too that such wackjobs happen to like living away from Oz.

No worries.

Property is decreasing 50% per year? If its decreasing 50% a year and the median house in the US has gone from US$ 229K at the height of the market in 2007 to today's US$ 174K I just cant wait for those annual 50% declines!! That means the median house will hit US$ 90K next year! Oh my!

Dream home here I come!!!! Lucky American buyers! Just like the house featured in the recent 2010 movie "The Joneses" Starring David Duchovny and Demi Moore filmed in upscale Alpharetta, GA - chosen by Hollywood producers to wow audiences worldwide. Yes with that house (approx US$500K) and those cars - they truly have the best lifestlyle for the lowest price. But wait with 50% annual declines I can wait for this Alpharetta house to hit 200K next year! Whooo Hoooo!

http://atlanta.craigslist.org/nat/reb/1953608173.html

And Australians can only dream. Australians can only wonder why those German cars are 3X more in Australia and why the Americans can live in massive McMansions that cost 1/4 of the cost in Australia. Oh that's right the median Australian house is A$500K so I guess Australians have to settle for thier tiny, crappy concrete boxes. Tsk tsk tsk.

So here's to 9.6% unemployment - and the crashing property market. No wonder US investors are smirking and making so much money while Australian suckers are only making 4-6%

 

[QXD]

Wow, I just spoke to one of my friends living in US.

He knew a jobless Singaporean since migrating to US, and ended up working in Mac.

One day, he starting bragging about an increase in salary and when quizzed further, boasted an 20% increase in salary working for KFC.

Unknown to him, the KFC manager was my friends beer drinking kaki and when asked, said the guy earned 6 bucks an hour.

Wow, from $5/hr to $6/hr, massive increase in pay!!

Dreams do come true in US!!

 

[Aussie Prick]

Wow, I just spoke to one of my friends living in US.

He knew a jobless Singaporean since migrating to US, and ended up working in Mac.

One day, he starting bragging about an increase in salary and when quizzed further, boasted an 20% increase in salary working for KFC.

Unknown to him, the KFC manager was my friends beer drinking kaki and when asked, said the guy earned 6 bucks an hour.

Wow, from $5/hr to $6/hr, massive increase in pay!!

Dreams do come true in US!!

Wow what a bullshit artist you are. First 50% property declines now $6 per hour wages! Fed minumum wage is $7.25. Most major corps Such as Walmart and Target pay higher than minumum wage.

http://cbs2chicago.com/local/walmart.hourly.wage.2.1688329.html

Since you mention McDonalds - maybe you can explain why many items that cost USD$1 such as the "McChicken" and the "McDouble" cost much more in Singapore and Australia? Why is McDonald's so cheap in the USA?

Also three years ago I walked into a 7-11 in California and saw a young Taiwanwese working there. He's a student and putting himself through uni working there @ USD$ 13 per hour. He said can tahan and also showed me his car outside. Was a 2nd hand lexus.

US salaries are HIGHER in the US @ A$1.51 PPP than Australia. The average US household earns 12K more than the average Australian household. (A$$78K PPP)

The average US household pays little tax - unlike Australia.

But if you cant handle the truth you can write to LKY and tell him you disagree that the top Singaporeans are headed to the USA every year and you can tell him you object when he states the 2nd class Singaporeans like yourself head to Australia because you cannot make it in the USA.

http://www.spacedaily.com/reports/An_Interview_With_Lee_Kuan_Yew_2008_999.html

<<<<Q: You also have a brain drain?

A: Yes, we're losing them to America.

Q: Not China?

A: No, there they have to compete against 1.3 billion people producing huge numbers of very bright people. They'd rather go to America where they become acclimatized, then go to China with an American firm. Chinese speakers, they are part of an American team with a leg up on their Chinese competitors. And from there, they can come back to Singapore with the kind of experience that puts them at the top of their game. Those who seek less rigorous competition, a more relaxed lifestyle, go to Canada and Australia.

Q: How many top brains do you consider lost to Singapore every year?

A: At the top end, about 1,000 a year. That's a loss of 4 percent or 5 percent.>>>

I'll tell you why I actually feel sorry for you. I pity your lifestyle. I pity what little your money can buy. Really, there is NOTHING you have that I or a prospective migrant actually could desire.

And that's why the US is still the land of milk and honey.

 

[londoncabby]

Anyone who wants an accurate look at the Australian housing situation should read the comments after this article. .

http://www.perthnow.com.au/business...tinue-to-fall/comments-e6frg2ru-1225912716743

Not Fooled By Property Spruikers Hype Posted at 9:11 AM September 01, 2010
Buy or Rent in this market? Why would you buy? Capital growth after 10 years you would be in front RIGHT? .... NO Wrong .... Simple example (Not taking into account rents rising or for that matter interest rates rising assuming one would cancel out the other) .... A $500K median house rents for $450 pw = $24K PA to Rent & @ 7% interest it would cost $40K PA to own (Inc Rates / Maint / Ins /) so the gap is $16K in your favour if you rent. Now if you save this in a Super Fund @ 5% pa after 10 years you would have $211K ... Now if your $500K house grew at 5% pa for 10 years it would be worth $814K so you made $314K but it cost you $160K more than renting to make this growth so in fact your nett gain after deducting this was only $154K ... so if you rented instead of buying you would be at least $57K better off .Now dont forget I did not take into account stamp duty & selling costs paid to sell the house if these were also taken into account the savings would be closer to $80K ..... But SPRUIKERS dont want you to think things through like this because if you did they would struggle to find enough FOOLS to buy in this Market ... Remember I acknowledge this is only a simple example !!!!

 

[Aussie Prick]

http://www.perthnow.com.au/business...tinue-to-fall/comments-e6frg2ru-1225912716743

Not Fooled By Property Spruikers Hype Posted at 9:11 AM September 01, 2010
Buy or Rent in this market? Why would you buy? Capital growth after 10 years you would be in front RIGHT? .... NO Wrong .... Simple example (Not taking into account rents rising or for that matter interest rates rising assuming one would cancel out the other) .... A $500K median house rents for $450 pw = $24K PA to Rent & @ 7% interest it would cost $40K PA to own (Inc Rates / Maint / Ins /) so the gap is $16K in your favour if you rent. Now if you save this in a Super Fund @ 5% pa after 10 years you would have $211K ... Now if your $500K house grew at 5% pa for 10 years it would be worth $814K so you made $314K but it cost you $160K more than renting to make this growth so in fact your nett gain after deducting this was only $154K ... so if you rented instead of buying you would be at least $57K better off .Now dont forget I did not take into account stamp duty & selling costs paid to sell the house if these were also taken into account the savings would be closer to $80K ..... But SPRUIKERS dont want you to think things through like this because if you did they would struggle to find enough FOOLS to buy in this Market ... Remember I acknowledge this is only a simple example !!!!

This is true. Poor Qxd the loser.

Cant take the truth

 

[londoncabby]

http://forums.guru3d.com/showthread.php?p=3456306

23.4% are broke in Australia

 

[Royalblood]

ohh my.....why am i not surprise at all!?

Perth is one of the many white trash bastion in Australia with a cbd area that is made up of only a few streets! WOW!

Them savvy Asians must have been super fed up with the racist white junks and the extreme boredem of perth such that they are dumping their properties in the zillion and causing the property price depression!

WA is truely a redneck mining state! hahahaha :oIo: