[zaph]

Quote

Yep, "bubble deniers are as plentiful as kangaroos" Down Under (Blowing away the bubble deniers, December 16). And from under just about every third rock there seems to be a know-it-all preaching doom and gloom. For all their confidence, many of the doomsters don't actually know very much about local housing and home lending markets, don't own their own home or – commonly – both. Meanwhile, most everyday people choose to buy a home they can afford to fund with a mortgage, then show up to work and happily pay their mortgage for the next 25-30 years. Over time, they enjoy a secure home within which to raise kids, and later on have a buffer that protects them from poverty in old age.

[cobran20]

those were the days when the average house price was 2-3x the average income!

[tom]

who gives a stuff what we know about housing.

I know I earn more than many, in my mid 30s, don't have expensive habits like drugs, and cannot buy most homes in the likes of Sydney.

That is unsustainable. Even if the costs / production side of the market is also unsustainable. It is still unsustainable.

Do they think they are doing a community service by talking the now significant part of the community who thinks something is wrong, down? Just grow a pair and buy a house you whinging buggers, you will thank me for it later...

[Rocket]

Quote

And from under just about every third rock there seems to be a know-it-all preaching doom and gloom. For all their confidence, many of the doomsters don't actually know very much about local housing and home lending markets, don't own their own home or – commonly – both. Meanwhile, most everyday people choose to buy a home they can afford to fund with a mortgage, then show up to work and happily pay their mortgage for the next 25-30 years. Over time, they enjoy a secure home within which to raise kids, and later on have a buffer that protects them from poverty in old age.

And from under just about every third rock there seems to be a know-it-all preaching house prices to the moon. For all their confidence, many of the sheister's actually make a living selling local housing or fear losing their homes and investment properties, or – commonly – both. Meanwhile, most informed people choose to rent a home they can afford without a mortgage, then show up to work and happily save for their deposit for the next few years. Over time, they enjoy a secure home within which to raise kids, and later on have a buffer that allows them to buy when the ponzi scheme supporting house prices eventually falls.



I'll be back just before the new year. Merry Christmas to all.

[Mr Medved]

And from under just about every third house on the market is a forced/distressed seller.

[Dose]

It must be hard when fewer and fewer people are listening.

Fantastic edits, btw.

[staringclown]

Thanks Rory. I'm a renter and a doomster.I repent it all. It's about time I became an everyday person, shut my fat gob and entered debt slavery. Sorry for the trouble.

[hoolaman]

Quote

For all their confidence, many of the doomsters don't actually know very much about local housing and home lending markets, don't own their own home or – commonly – both.

So the suggestion is not owning your own home means you are wrong and stupid. Even if you DO know about the housing market, not owning your own home cancels that out.

[savagegoose]

f*ck you,
ill continue going ot auctions and bidding asking price minus 1 zero off the end,

[Pr0]

zaph, on 19 December 2011 - 09:33 PM, said:

I suppose the person who wrote the article is Right! Not!

The people who write these articles are the ones who are desperate and write in desperation in the hope that someone who knows them treats them with a God like status and will stay as some sort of disciple clinging to every word that they say or write..

All I can say is your time is up go and get a real job and try to let your delusion of high property prices living for ever Go! Just let it go, you may cry for sometime and eventually you will feel better when people forget the ill words of wisdom that you preached to the many of the days gone by..

The official interest rate may be cut by another 200 points it won't save you unless you get out now! Try and save some money, because 2013 it is approaching!

C'mon 2013!

[savagegoose]

you'll never getout at these prices again!

[Crest]

zaph, on 19 December 2011 - 09:33 PM, said:

Rory gets cranky about doom and gloom talk but then goes on himself and mentions people eating dog food.

Lighten up Rory. We dont need high levels of debt and associated housing infation to prevent a dog food diet. As a matter of fact a few people I know who have high levels of debt have a terrible diet, terrible fitness and a poor lifestyle. One of the externalities of being in too much debt.

[Sean]

When did Rory get back in the saddle? Last time I checked in, he had 'left' his position as 'interest rate analyst (or strategist)' at MQB presumably to 'spend more time with his family'.

[Solomon]

Sean, on 30 December 2011 - 08:49 PM, said:

When did Rory get back in the saddle? Last time I checked in, he had 'left' his position as 'interest rate analyst (or strategist)' at MQB presumably to 'spend more time with his family'.

Hello Sean,
Haven't seen you around for a while. Good to have you back.
Rory might have to get out of the saddle and hit the pavement soon.
A good walk to Kosciusko would do him the world of good.

[Sean]

Solomon, on 30 December 2011 - 10:46 PM, said:

Hello Sean,
Haven't seen you around for a while. Good to have you back.
Rory might have to get out of the saddle and hit the pavement soon.
A good walk to Kosciusko would do him the world of good.

ty - been off the air for a while, just busy. Plus the corruptness of real estate 'reporting' and commentary in our society and the dominance of financial spivs is just so bad you can only tolerate it for so long.

Steve Keen probably shouldn't have awalked to Kos, he didn't need to to satisfy the terms of the bet. RR may well be going within the next couple of years, we'll see...

[tor]

Sean, on 31 December 2011 - 02:02 AM, said:

Steve Keen probably shouldn't have awalked to Kos, he didn't need to to satisfy the terms of the bet. RR may well be going within the next couple of years, we'll see...

I reckon he played that perfectly, he got massive publicity out of it and got to call the bet into question as well.

Publicity is a win for him professionally.
If house prices did drop then Rory is screwed publicly if he doesn't make the same walk which is a win for steves ego.

[Sean]

tor, on 31 December 2011 - 03:18 AM, said:

I reckon he played that perfectly, he got massive publicity out of it and got to call the bet into question as well.

Publicity is a win for him professionally.
If house prices did drop then Rory is screwed publicly if he doesn't make the same walk which is a win for steves ego.

well, i dunno, i had a word about it with him before he left, he felt he had to go at some juncture, but it came out later halfway through the walk that the exact terms of the bet were over a longer period like more than 5 years -- after they sprang the audio from the national archives or something. however, he used it to show up the FHOB and unaffordability, and it was a good effort. leaving from Canberra created an opportunity for a lot of political mileage to be made. as he points out, he's a keen runner (no pun intended) so it wasn't a big deal for him. rory might struggle a bit more looking at his physique...

as he pointed out, you should never make an honest bet with a banker...

[tor]

Sean, on 31 December 2011 - 05:51 AM, said:

well, i dunno, i had a word about it with him before he left, he felt he had to go at some juncture, but it came out later halfway through the walk that the exact terms of the bet were over a longer period like more than 5 years -- after they sprang the audio from the national archives or something. however, he used it to show up the FHOB and unaffordability, and it was a good effort. leaving from Canberra created an opportunity for a lot of political mileage to be made. as he points out, he's a keen runner (no pun intended) so it wasn't a big deal for him. rory might struggle a bit more looking at his physique...

as he pointed out, you should never make an honest bet with a banker...

and that contradicts my thoughts how? it seems to be exactly what I said.

[Sean]

tor, on 31 December 2011 - 07:36 AM, said:

and that contradicts my thoughts how? it seems to be exactly what I said.

Let's just say I don't think it ever looks very convincing losing a bet while advancing a particular position, no matter how you spin it. Kind of makes him look confused, forgetful, naive and disoriented also, as the exact terms of the bet came out after he'd embarked and he could have stood his ground for several more years until the price falls actually happened. Would have saved a lot more face.