He's gone very quiet!! Anyone know what happened to Scamp? He may have talked a complete load of bull at times but he certainly livened things up!!!
COME BACK SCAMP!!!!
Love
Rudi
xBull ? like the property market crashing ? thats not bull thats reality…
Not where I live. And did I say that specifically? If you read my post I said "at times".
Thanks for your very useful and considered response….hmmmm….must have missed that bit, to the question I actually asked.
Rudi.
hbbehrendorff wrote:Bull ? like the property market crashing ? thats not bull thats reality…What correction?
http://www.smh.com.au/news/national/what-crisis-sydneys-47m-house/2008/09/17/1221330929879.html
rudo1ph wrote:He's gone very quiet!! Anyone know what happened to Scamp?Still peddling the same old crap over at ghpc and dreaming of a crash of at least 50% by the time he gets here.
Scott No Mates wrote:hbbehrendorff wrote:Bull ? like the property market crashing ? thats not bull thats reality…What correction?
http://www.smh.com.au/news/national/what-crisis-sydneys-47m-house/2008/09/17/1221330929879.html
Please tell me what Percentage % of the population could afford a property in this price range, Then we will apply that same percentage to the relevance this has to the property market, Im guessing less then 1% ? correct me if I am wrong
hbbehrendorff wrote:Please tell me what Percentage % of the population could afford a property in this price range, Then we will apply that same percentage to the relevance this has to the property market, Im guessing less then 1% ? correct me if I am wrongAnd what percentage of houses currently for sale are of this quality and in this location ? Less the 0.1% ?
How many houses have been resold at a lower price then the previous sale price from the total pool of houses sold ? If less then 1% then could you really call that a property market crash or correction ? The seller may get less then expected but for as long as he gets more then he paid for the property its all good. A lowering of expectations and a smaller profit yes but hardly a crash.I would agree that in many areas there has been a price correction however getting away from West/South western Sydney (& the equivalent in other states) the magnitude of the correction is nowhere near as great. Many rural areas have been hit by drought and prices are rebounding, the resources boom has kept many other regional areas strong as well – should exploration be canned or unsuccessful, then these areas will find a lack of demand as well.
Many of the LGAs that I am familiar with do have median prices over $1m but that does not mean that there aren't buying opportunities at $600k or $4M. Likewise, many sub-$500k areas also represent good buying (provided you can service the loans).
Property, as an investment class, is a long-term investment – it is not a speculative area unless you have better knowledge of the market than others and are able to absorb the holding costs. Property has high entry and exit costs compared to other investments – also adding to the long-term nature of the investment. in a rising market, it may well be possible to buy & sell in the short term however the fundamentals are not there at present to justify a quick turn around of sites.
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