Sydney home prices now falling $120,000 a year

Discussion in 'Property Market Economics' started by Pete Arendt, 24th Jan, 2019.

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  1. kierank

    kierank Well-Known Member

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    The result of being married for nearly 40 years ...;).

    You are obviously a newbie :D.

    We have clawed back half of those paper loses over the last three months.

    I bet you Sydney property prices haven’t done that :eek:.
     
    kierank, 25th Jan, 2019
    #41
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  2. kierank

    kierank Well-Known Member

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    Not only Gen Ys. This old baby boomer can’t afford it either ;).

    The good news is that there are a lot of other places for Gen Ys and I to buy into :eek:

    I bought a 4 bed house in Toowoomba a year ago for just over $300,000
     
    kierank, 25th Jan, 2019
    #42
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  3. New Town

    New Town Well-Known Member

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    Can trolls have much of an impact on forum of investors? Politics, religion etc maybe but investing is so results and measurement oriented. They're only kidding themselves surely.

    Anyway assuming they're taking a negative position it probably counters the spruiker coolaid
     
    Last edited: 25th Jan, 2019
    New Town, 25th Jan, 2019
    #43
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  4. berten

    berten Well-Known Member

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    Again, claiming the article is negative, is really just an opinion based on your position. To someone else the same article might be a positive, meaning opportunities to buy coming up. This article, and many others that have been labeled "doom and gloom", is actually written around data and analysis, which one can use to make decisions. Just as helpful as chit chat, advice, or anything else IMO.
     
    berten, 25th Jan, 2019
    #44
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  5. Triton

    Triton Well-Known Member

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    Boomers should already have a home that they purchased for 250k in essendon lol
     
    Triton, 25th Jan, 2019
    #45
  6. Simon Hampel

    Simon Hampel Founder Staff Member

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    Who says owning a nice home in a nice suburb has ever been easy? It's this mentality and expectation which is exactly the problem.

    You also need to take into account gentrification - some inner suburbs were much less desirable when people bought in a couple of decades ago and have since gentrified which drives up prices and desirability.

    It is this process of gentrification (largely driven by owner occupiers) which has a much larger impact on property prices than the activities of property investors.

    I don't know too many property investors who willingly pay top dollar for the properties they buy. I know plenty of owner occupiers who do.

    In the last 5-10 years, you also need to take into consideration the effect of Chinese money on certain Australian markets. There is plenty of evidence showing the influence those buyers had in pushing up market prices. That's not the fault of Australian property investors!
     
    Simon Hampel, 25th Jan, 2019
    #46
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  7. Simon Hampel

    Simon Hampel Founder Staff Member

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    Kind of missing the point here.

    Taken on their own, none of the posts are problematic. It's the overall pattern of behaviour which represents a problem.
     
    Simon Hampel, 25th Jan, 2019
    #47
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  8. kierank

    kierank Well-Known Member

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    Why?
     
    kierank, 25th Jan, 2019
    #48
  9. berten

    berten Well-Known Member

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    I get what you are saying, but these type of posts constitute a tiny percentage of overall posts, and personally I like to read relevant articles and charts on the market (negative, positive whatever) and actually like it when it's not attached to half page of personal comment of opinion that is not necessarily relevant to me. I'd understand if it was every other thread, but it just seems like some folks don't want to hear anything about prices going down.
     
    berten, 25th Jan, 2019
    #49
  10. Simon Hampel

    Simon Hampel Founder Staff Member

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    Again, you are missing the point.

    There is nothing wrong with the original post in this thread - I never said their was.
     
    Simon Hampel, 25th Jan, 2019
    #50
  11. berten

    berten Well-Known Member

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    I get your point, this person only posts "negative" articles and doesn't comment. Doesn't negate what I'm saying.
     
    Last edited: 25th Jan, 2019
    berten, 25th Jan, 2019
    #51
  12. Simon Hampel

    Simon Hampel Founder Staff Member

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    Sure - you're saying that you like to read articles about the market whether positive or negative. Nothing wrong with that at all.

    I'm not really sure what this has to do with what I've been posting though?
     
    Simon Hampel, 25th Jan, 2019
    #52
  13. berten

    berten Well-Known Member

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    Perhaps I was unclear, but my point was I don't see the harm of someone posting market analysis articles without commenting because IMO It adds to the community, for the reasons I outlined. So, my opinion on the issue you raised...
     
    berten, 25th Jan, 2019
    #53
  14. Simon Hampel

    Simon Hampel Founder Staff Member

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    If they posted a range of articles, both positive and negative and otherwise contributed to the discussion based on looking for opportunities to invest and build wealth - then absolutely there is nothing wrong.

    Hence why I said there was nothing wrong with the post.

    But when you look at the pattern of behaviour where they only ever post negative articles - and never with any commentary which seeks to identity the opportunities arising from them - nor do they ever discuss any other factor of property investing. It is fairly clear that the intent behind the posting is not to add value to the community, but instead to "prove" to the property investors how bad things are or how bad they are going to get. That is very much a form of trolling.
     
    Simon Hampel, 25th Jan, 2019
    #54
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  15. berten

    berten Well-Known Member

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    Fair enough, matey.

    If I may add my own positive comment to the negative article. We all know Sydney and Melb were in need of a reset, particularly some areas. This downturn will open up excellent opportunities for those who are patient and financially positioned to pounce. IMO 12-24 months is looking good to me as an entry point, but let's see.
     
    berten, 25th Jan, 2019
    #55
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  16. Beano

    Beano Well-Known Member

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    That is nothing
    When we were young we use to lose that in a day and that was while working 25 hours a day 370 days a year paying the boss £100 an hour just to let us work !
    We tell that to these young investors and they never believe us :)
     
    Beano, 25th Jan, 2019
    #56
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  17. kierank

    kierank Well-Known Member

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    That is nothing.

    When I was young, I was losing that amount every second :D.

    I am smarter now. It takes a month to do it. One day, I will get it right and retire :eek:.
     
    kierank, 25th Jan, 2019
    #57
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  18. Angel

    Angel Well-Known Member

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    This particular article is quite meaningless. As a Literacy tutor, I can punch a few holes into its credibility. For example, which suburb of Sydney has been used to demonstrate that prices have dropped by this specific number? What about our precious Mt Druitt, how much has it dropped in the same period? As an academic piece, it wouldn't even rate as a primary source. I wouldn't call it a negative article, it is so poorly written that it doesn't count as anything in my sphere.
     
    Angel, 25th Jan, 2019
    #58
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  19. Simon Hampel

    Simon Hampel Founder Staff Member

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    To be fair - I think the headline makes it pretty clear that this is barely more than clickbait.

    A figure like $120,000 per year sounds very scary to someone on an average wage, whereas 10% (of a $1.2m median) is far less confronting!

    Also quite misleading, because a further 10% fall will NOT be $120,000 - so the implication that property prices are falling "by $120,000 a year", suggests that they will continue to fall by the same dollar figure this year!
     
    Simon Hampel, 25th Jan, 2019
    #59
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  20. Perthguy

    Perthguy Well-Known Member

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    Ok sure. Then is just reposting news articles and offering no opinion or commentary really a contribution? If you don't participate in the discussion then you are just baiting and not actually contributing.
     
    Perthguy, 25th Jan, 2019
    #60
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