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

Funny how it's only a problem when the market is talked down. Michael Yardney saying prices in Sydney could hit $6 million in 25 years is perfectly fine.

 

I'm afraid I can't get more than a few seconds into the clips - have tried several times. I have a strong allergy to English accents claiming to have a distinct Australian flavour. My suggestion to him would be to show some footage of houses lined up, roof tops, for sale signs etc and get an Aussie accent voice-over. Comes off like he's having a mid-life crisis. Sorry. Would love to know what he says but life is too short.

 

Who said that it's perfectly fine?

I posted an article last week that predicted the median in Sydney and Melbourne would hit $6 million in 20 years. I stated that I find that unlikely. Actually, I think whoever wrote that article is an idiot. He got the numbers all wrong.

I have not read the Yardney prediction but if it doesn't stack up then I will say so.

 

I wouldnt complain if it reached 6m I'd have to be an idiot to.

But yeah very unlikely.

 

I'm just pointing out that people cheer rosy predictions around here, but complain that doom and gloom is "talking the market down".

For the Sydney median to hit $6 million in 25 years, you'd be looking at compound growth of about 7% per annum. That's a pretty standard prediction, and it's used by a lot of investors.

If inflation remains low, I'm not convinced that the Yardney prediction will happen either.

 

It’s used by spruikers, people selling snake oil.

 

TBH I had to watch at 1.5x the normal speed.

 

OK got through it all today. Yeah. He's basically saying what we know. 2019, prices are down; beware spruikers (aka off the plan).
I wonder though: is he implying it's a bad time to buy? He's seriously got me thinking about Lewisham! But, yeah, I'd wait a little while.
In some areas, better to buy in 2019 than 2017. In other areas, that's not true. To me, he's just another self-spruiking pudding with generalised projections based on latest data.
I can see the appeal to a certain extent -like he' a decent guy with good info - but we get a lot of that already on the forum. I prefer to see that balanced out by the ones who hit the pavement and give truthful reports.

 

Nothing to disagree with here. Par for the course.

 

Which parts of his analysis do you find untruthful?

 

None.

 

Yes bad time to buy going by his videos, and correct same stuff we all already know and read from property chat. I kind of see him like a combination of pc profiles all rolled into one, eg sash/euro/mtr, and then going on national tv giving his opinion with month to month data analysis.

 

Today I finished spraying the roller door and it turned out pretty good, using the Wagner sprayer. Then 15 minutes later a gust of wind blew dirt and rubbish all over the door

 

omg

 

Lol, I like their posts. Informative most times

 

And another from me

 

Depending on the colour you painted it, and with the addition of said dirt and rubbish, this rollerdoor might be the next Blue Poles, and could be worth millions.

Worth a call to the MCA, at least...

 

House prices are not the bubble, the amount of debt is the bubble.

Rates in America are rising in preparation for its next recession then they will drop rates, and so will the rba.

 

I like Martin North and his analysis, but I find John Adams maybe a bridge too far. He presents some interesting data, but his interpretation always seems to be that an economic armageddon is just around the corner.
He works for a precious metals trading company (Blog), hardly surprising that all his economic forecasts lead you to think that it's a good time to start buying gold...