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 Post subject: Ominous signs in Australia
PostPosted: Sun Nov 29, 2009 5:42 am 
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Posts: 1640
Third interest rate hike...
http://www.news.com.au/business/money/s ... 10,00.html
Offers from developers...
http://www.dailytelegraph.com.au/news/h ... 5804948858


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 Post subject: Re: Ominous signs in Australia
PostPosted: Sun Nov 29, 2009 5:50 am 
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DSE3Br wrote:


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 Post subject: Re: Ominous signs in Australia
PostPosted: Sun Nov 29, 2009 5:58 am 
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Melbourne is going feckin mad

Quote:
$910m property boom hits home

Jubilant vendors watched as buyers paid millions of dollars more than asking prices for the 775 homes that sold at auction.

Pundits dubbed the day Supersonic Saturday.

Real estate agents are celebrating today, having earned more than $27 million in commission payments in the past week.

Stunned bystanders watched the price of a three-bedroom terrace house in Albert Park soar to $1.45 million, more than 70 per cent above reserve. Auctioneer David Evans was "staggered" by the result

Real Estate Institute of Victoria chief executive Enzo Raimondo said median house prices could rise as high as $530,000 next year. And the median would hit $1 million by 2020, Mr Raimondo said.


It's all very 2006 isnt it.


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 Post subject: Re: Ominous signs in Australia
PostPosted: Sun Nov 29, 2009 7:24 am 
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Correct me if I'm wrong but the developers in my second link won't get finance if they can't sell off plans? I'd be mighty p1ssed if my $600,000 shoe box in the Westies just dropped 10% when it's already a guaranteed cashflow loss on completion. My girlfriend's friend just put down a deposit on and off plans apartment mileage from Brisbane CBD to get a "foot on the ladder". Scary stuff.


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 Post subject: Re: Ominous signs in Australia
PostPosted: Sun Nov 29, 2009 9:54 am 
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Location: Tullamore
Quote:
Real Estate Institute of Victoria chief executive Enzo Raimondo said median house prices could rise as high as $530,000 next year. And the median would hit $1 million by 2020, Mr Raimondo said.

Ah, straight line economic forcasting gets another mental-I'm an utter gobshite spokesman.

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 Post subject: Re: Ominous signs in Australia
PostPosted: Sun Nov 29, 2009 10:08 am 
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Location: South of the Border (Down Mexico Way)
yoganmahew wrote:
Quote:
Real Estate Institute of Victoria chief executive Enzo Raimondo said median house prices could rise as high as $530,000 next year. And the median would hit $1 million by 2020, Mr Raimondo said.

Ah, straight line economic forcasting gets another mental-I'm an utter gobshite spokesman.

Next up - demographics.


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 Post subject: Re: Ominous signs in Australia
PostPosted: Sun Nov 29, 2009 1:06 pm 
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Location: ENGLAND
Signal of a commodities top?

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IT'S DIFFERENT THIS TIME


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 Post subject: Re: Ominous signs in Australia
PostPosted: Sun Nov 29, 2009 1:23 pm 
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Posts: 91
As long as China keeps growing, Oz will keep booming.


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 Post subject: Re: Ominous signs in Australia
PostPosted: Sun Nov 29, 2009 3:02 pm 
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Everyone's a little sheepish about calling Oz I notice.

I say bubble but the China point is valid.

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 Post subject: Re: Ominous signs in Australia
PostPosted: Sun Nov 29, 2009 3:06 pm 
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How do I short oz property?


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