The great aussie dream comes to an end

I know it's easy to bat away the scaremongers with headlines about property bubble bursting (60 Minutes clip very dramatic indeed!). I’ve been waiting for it to happen for well over a decade now and have not seen it happen!!! So hindsight tells me I should have piled into the Australian property market a decade ago and I would be sitting here well happy now (but alas I didn't) … But history tells us that everything is a cycle and the Australian property is no different. It’s just been a very very long upwards and upwards cycle but could conceivably come down in a much shorter time span. It’s just a matter of when not if in my view. How far it will come down, now that's the debatable question.

 

Both sides of politics know pop growth via immigration is important. No way will anyone curb that. Nor should they.
They just have to play their cards carefully as there is a percentage of voters , ill informed, that want immigration to reduce and blame ills of society eg high re prices on that group. Its the easy and ignorant option to do so.

 

Bob Carr has too much time.

 

Are you focusing on Perth market?

 

Better sell everything and live in a tent.

 

Not anymore.

 

I've done it before, for months on end around Australia. This time around I'd pack the camping gear onto an old yacht and get lost in the pacific islands. It's a humbling, satisfying lifestyle.

I'm adaptable, I'm ready but I don't think we'll see RE armageddon. I just like an adventure.

 

That's freakin awesome! New thread required

 

But I didn't sell everything though nor did I do it because I felt that a financial apocalypse was bearing down upon us. As you probably know from your travels around Oz, it's just a fantastic, chilled out way to live (for some). Provided the family, work and financial situation is flexible enough to accomodate such adventures.

The old yacht has been a dream since my 20's after surfing places like Sumatra, Tonga and even Bocas del Toro in Panama where I met guys living the dream. In Boca's I met an Australian guy that returned every season, just moored the boat and paddled over to the spot below everyday.

About 8 of us of all different nationalities shared a split level timber place for $50 USD a week, it's just cut off the bottom left of this shot. I used to see sloths and talk to bright green hummingbirds as I wandered through the coconut palms to the top of the reef.



Recently inspired to visit the Kiribati atolls in an old yacht after reading this..

A bend in the reef - Chuck Corbett.

 

I have done it before too. I have many tents but this one is my favourite

 

What a pity some are not able to separate the truth from the blame. No-one wants to stop immigration, just slow it down a little. Whether that happens or not, we'll have to see. But in this country, you should be able to discuss numbers without projecting insults into the conversation. I don't think you've thought it through. No-one's blaming immigrants. And people aren't immigrants until they get here.

 

I agree. I am generally pro immigration. I dont want to see us turn into a demographic abyss like Japan but the constituents of a democracy should be able to voice through their elected representatives an idea of how many people they would like to share their country.

 

Im not suggesting 'slowing it down a little' is necessarily a bad thing...although 50% is more than a 'little'..and yes there are groups that are steadfastly opposed to it..just like in many other countries as well that take in immigrants.

 

Someone known on this forum is on 60 minutes this Sunday. If they link the Moranbah housing market to all housing markets in Australia, I would be quite disappointed and it would lose complete credibility with me.

 

Step 1: cash out as markets peak
Step 2: use the cash to buy back in when markets bottom out

 

@barnes is right. This is a function of supply and demand. In Perth, demand has dried up for properties and rentals in some areas. My IP is down 30% from the peak in value and rents are down 22% from previous and falling further. The reason is that prices got overvalued and rents increased beyond a sustainable level. A market correction is the logical conclusion to the excess the preceded it.

 

Since when does the media do thorough research??
60 minutes are doing a deal with bunnings... pitch forks 50% off!

 

Using Monty Python "Aqueduct" voice ..
Four Corners?

 

A yacht would be unreal, I know nil about boats but I think I'd really like one, one day! An old work mate used to be until yachts and boats so he gave me a taste of it. The stuff they do in Europe looks unreal too! And much fancier gear!

 

High population growth is irresistable to our our politicians: more funding, more potential supporters, more taxes to spend, and it gives the illusion of them being good economic managers as GDP keeps growing (albiet it is only ponzi style growth). Yes they have been good at playing their cards on this, ie keeping quiet about it. In particular John Howard with his bait and switch tactic of cracking down assylum seekers while at the same time ramping up immigration (plus his pro natal policies such as the baby bonus).