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

Apparently in very short supply these days .

 

Could financial plain packaging break Australia's debt addiction?

"Professor Harrison says other research shows psychological manipulation, such as the image of an attractive woman in a loan advertisement, had a positive effect that was the equivalent to a 0.5 percentage point drop in the interest rate. This works by exploiting the "peripheral route" to persuasion."

 

Rubbish, what about con the fruitere in the 'equity mate' commercial. Nothing attractive there and have a look how that played out!

 

If you go on prime time national TV saying don't buy houses for the next 12 months because prices are going to keep dropping, you might convince a lot of people to put off buying houses and in turn help prices to fall...

 

Steve keen and Lindsay David did this but prices kept rising, seems martins approach is to call it as it’s happening

 

In Sydney and Melbourne maybe. Prices don't seem to be dropping in Perth and Brisbane. Not sure about Hobart.

 

Latest vid and outlook.

 

Rural areas in Tas are beginning to drop/ not move. Howrah/ Lindisfarne areas are 200k down on asking price from 12 months ago, but selling price similar when they shift. Lower volume selling, prices flat. More stock pilling into the market.
Stock from Oakdowns, Rokeby, Howrah, Lindisfarne, Sandy Bay all seem up on last year. The less popular, traditionally lower socioeconomic areas of Gagebrook, Bridgewater seem to be doing well. Claremont has been achieving good prices overall but is experiencing major criminal problems at the moment including stabbing and armed robbery in the last week. I would expect the prices to go negative, along with Berriedale.
Retailers are disappearing and there's plenty of spare capacity in commercial real estate.
I would proceed with caution.

 

Geez Hobart chic you should stop talking the place up like that!

 

lol there has to be someone to blame

 

Good point. I can imagine many making big dollars in the mining boom bought OTP IPs and that sort of thing. There was a lot of money in Perth in 2007.

 

this is how it works. Sentiment and media coverage are huge influencers - and even when they are detached from fundamental indicators.

 

To be fair, it was booming last year. Some people are still doing very nicely out of the Tasmanian markets (and will continue to). I just do not see old houses continuing to achieve such high prices for too long. Particularly with the Uni now providing housing. Sandy Bay could get interesting as a result.

 

Or ‘to be fair’

Hobart listings are down 25% compared to this time last year (cameran Kucher core logic)

Asking prices are up 12% over the last year in Howrah (SQM research)couldn’t be bothered checking lindisfarne

Tas economy is growing, not sure where most violent crime is committed but probs in the inner city and a lot of people like old character houses

 

@Leo2413 great posts as always!
I am so sick and tired of people pointing fingers at the banks!! Yes they are greedy but they are a $&^#% business. The only difference between them and most other greedy businesses is we as the public get an opportunity to use them for leverage to create our own wealth.
That’s a lot more than I can say for every other greedy business where you can’t leverage them and they suck you dry! (Supermarkets, Petrol, Every single Insurance Company .etc).

The people who point the finger and bad mouth banks are the ones who don’t understand the power of leverage but it’s not complicated. It’s not like it’s only the filthy rich who get enrolled in some special course that no one else can know about. It’s somerhing anyone who WANTS to learn about can...but hey it’s much easier to point a finger than to take responsibility.

 

Mindset.

Many have the 'loser/entitled' mindset unfortunately. As crude as it sounds, I believe this to be 100% true. When things go well they are all bright and cheery. Then when times get tough, they want to start shifting responsibility asap and start the blame game. These people imo rarely achieve great success in the end.

 

He makes me want to puke

 

Leo I have no disagreement about the points you make about the important role of the banks. And the positive contributions they make. But there has been no shortage of deceptive, dishonest and quite immoral behaviour from them. Have you been seeing what has been coming out of the Royal Commission? That needs to be cleaned up. Even by the Banks' own (forced) admission.
it is possible to make money, contribute positively to society AND be honest.

 

I get the same feeling from reading certain members posts.

 

I don't doubt it mate. But then lets also not forget how many people fudge their financial information given to the banks. Where consumers have been blatantly deceived then I agree they have a genuine gripe. But there are also so many in the 'just wanna blame' camp.