Martin North went on The Project and told people not to buy property until next year...

Discussion in 'Property Market Economics' started by DrunkSailor, 23rd Jul, 2018.

Join Australia's most dynamic and respected property investment community
  1. DrunkSailor

    DrunkSailor Well-Known Member

    Joined:
    25th Jun, 2017
    Posts:
    736
    Location:
    Melbourne
    Who disagrees with that?

     
  2. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

    Joined:
    19th Jun, 2015
    Posts:
    3,472
    Location:
    NSW
    I might be showing my ignorance here., but who is Martin North?
     
  3. DrunkSailor

    DrunkSailor Well-Known Member

    Joined:
    25th Jun, 2017
    Posts:
    736
    Location:
    Melbourne

    Initially I just thought he was a professional analyst but some other people have said he was the head of departments for some major banks. He has been quoted by the ABC and MSM for some years now in regards to Australian finance. He's been getting more attention due to the housing downturn.
     
  4. bob shovel

    bob shovel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    6,955
    Location:
    Lower Blue Mountains
    "Who do we blame for this"
    The project in a nut shell. A currant affair with more hosts! Waste of space
     
    Archaon, Foxdan, Whitecat and 7 others like this.
  5. Barny

    Barny Well-Known Member

    Joined:
    16th Oct, 2015
    Posts:
    2,759
    Location:
    Australia
    Friends with Lindsay David, share similar information. DFA
     
    MikeyBallarat and Perthguy like this.
  6. mues

    mues Well-Known Member

    Joined:
    17th Feb, 2017
    Posts:
    396
    Location:
    Melbourne
    I agree with it. But that’s boots on deck feeling. People struggling to get offers on anything that isn’t a grade stock.
     
  7. Perthguy

    Perthguy Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    11,760
    Location:
    Perth
    Peas in a pod. Speaking of our friend LD, where's our housing crash? ;)
     
    House likes this.
  8. Perthguy

    Perthguy Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    11,760
    Location:
    Perth
    People in Perth. It's a great time to buy in Perth. Buyers market.
     
    Ross Forrester likes this.
  9. mues

    mues Well-Known Member

    Joined:
    17th Feb, 2017
    Posts:
    396
    Location:
    Melbourne
    Isn’t it basically here?
     
  10. Sackie

    Sackie Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    18,240
    Location:
    Bondi Beach
    Poor banks get blamed again. More nonsense, scaremongering media rubbish.

    For full disclosure, I'm a bank lover. Makes no sense to dislike the help which makes one wealthy.
     
    Ghoti, wooster, albanga and 1 other person like this.
  11. Barny

    Barny Well-Known Member

    Joined:
    16th Oct, 2015
    Posts:
    2,759
    Location:
    Australia

    I'm still working through martins information as I only discovered dfa about 2 months ago, but he doesn't seem to be scare mongering or predicting recession by set date like Lindsay David. Martins info seems to be going month by month outlook on the property market and his main amo from what I can see is credit restriction to lending/liar loans/interest only loans reverting to P&I and australias high debt levels with rising interest rates in the near future.
    I'm not sure how they calculate their info, but they seem to come up with similar info as lf economics, aka Lindsay David.

    All the info they talk about has already been brought up on property chat in the past, and it's a concern for many if it plays out as they assume.

    This is a video I've posted before in another thread speaking with john Adams, good points raised, let's see how it all plays out.

     
    dengus and ollidrac nosaj like this.
  12. Joseph

    Joseph Well-Known Member

    Joined:
    25th Jul, 2015
    Posts:
    1,450
    Location:
    AU
    Wha...? Did you even watch the interview? "There is plenty of blame to go around." :D
     
  13. marmot

    marmot Well-Known Member

    Joined:
    12th Jun, 2006
    Posts:
    1,215
    Location:
    N.S.W , W.A
    Many of them already have IPs , and they have been sitting on them for up to 10 years with no growth , so maybe they are a bit reluctant to keep on believing the local real estate industry, and everytime they call the bottom of the market.
    For those that got caught up in the hype of the mini boom , they may even be looking at decent losses.
    Once prices really start to move upwards , there may start to be some movement, although some may just cut their losses and move on , especially after 10 years IO with zero growth, and they have never touched the principal of the loan.
    Thats a lot of wasted really unproductive money that could have been better spent.
     
    Sasim, Whitecat and radson like this.
  14. ollidrac nosaj

    ollidrac nosaj Well-Known Member

    Joined:
    27th Apr, 2016
    Posts:
    867
    Location:
    australia
    Thanks for posting. Intresting comments regarding certain institutions underplaying our current debt and allocation of that debt in the economy. IMO we are sitting in a far more precarious position than people realise or are willing to admit. I think an intrest rate rise sooner rather than later is warranted to give some a kick in to reality.
     
    jprops and Barny like this.
  15. Sackie

    Sackie Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    18,240
    Location:
    Bondi Beach
    But banks are always first. No idea why. Ppl love them when they can get finance then hate them when things go wrong .

    What you never hear is appreciation for banks lending ppl the money, many of whom go on to create alot of wealth . Even 1 or 2 Ips in retirement can make alot of difference to folk's nest eggs. Banks make that opportunity possible.

    Banks aint the enemy . There is no enemy. Just personal responsibility, supply and demand and cycles .

    That's my perspective .
     
    teg499, luckyone, C-mac and 8 others like this.
  16. ollidrac nosaj

    ollidrac nosaj Well-Known Member

    Joined:
    27th Apr, 2016
    Posts:
    867
    Location:
    australia
    Is that still a thing?
     
  17. Perthguy

    Perthguy Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    11,760
    Location:
    Perth
    Factually incorrect.
     
  18. Perthguy

    Perthguy Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    11,760
    Location:
    Perth
    Is this a correction or a housing crash?

    LD predicted an economic bloodbath Australia wide with house prices dropping up to 50% across the board. Is that what you are seeing? Because I am not seeing that at all.
     
  19. Perthguy

    Perthguy Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    11,760
    Location:
    Perth
    You could have run the same argument in Sydney in 2013. From 2003 to 2013 most properties did not increase much in price. By that reasoning, 2013 was a bad year to buy in Sydney. Not the case though, is it?
     
    Whitecat likes this.
  20. sash

    sash Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    8,562
    Location:
    Sydney
    Martin is spot on if he is referring to the Sydney market. ...much better buys on late 2019 to 2020.

    As for Brisbane...people better be in soon as it is taking off now......by 2020...the market would have moved. I don't think the finance restrictions are going to have as a much impact there.
     
    icic, Toon and TAJ like this.