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Is it a bad thing if house prices crash?

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watt price tully Scorpio



Joined: 15 May 2007


PostPosted: Wed Oct 31, 2018 10:45 am
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Culprit wrote:
^^I remember paying around 20% on my housing loan. A recession we have to have again. People over committing, banks over lending etc. We didn't learn.


Yeah, my first mortgage was at about 13% and went to 17.5%, Mrs WPT got pregnant to me I beleive, we were renovating, I was working F/T and studying two post grad courses FFS. Tell that to the young ones of today and they won't believe you

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K 



Joined: 09 Sep 2011


PostPosted: Wed Oct 31, 2018 10:54 am
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watt price tully wrote:
...
Mrs WPT got pregnant to me I beleive, ...

Shocked
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watt price tully Scorpio



Joined: 15 May 2007


PostPosted: Wed Oct 31, 2018 3:53 pm
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K wrote:
watt price tully wrote:
...
Mrs WPT got pregnant to me I beleive, ...

Shocked


Just checking Wink They're mine alright. All my kids good points come from me. All their less than good points come from....she who must be obeyed. Of course after 40 years of marriage I can say that. Indeed I'm happily married but my wife's not

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think positive Libra

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Joined: 30 Jun 2005
Location: somewhere

PostPosted: Wed Oct 31, 2018 4:50 pm
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Culprit wrote:
^^I hear you, all her Dad wants to do is die. He has to be taken off blood thinners due to a wound on his back that won't stop bleeding. This is likely to cause a stroke and when not if that happens he will go into palliative care and they will make him comfortable with morphine and we all know what that means.


Kinder than keeping him alive when quality is gone, but still not kind enough! My mum lasted 2 long weeks on the morphine. We treat our beloved pets better. Cheers

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stui magpie Gemini

Prepare for the worst, hope for the best.


Joined: 03 May 2005
Location: In flagrante delicto

PostPosted: Wed Oct 31, 2018 6:40 pm
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watt price tully wrote:
K wrote:
watt price tully wrote:
...
Mrs WPT got pregnant to me I beleive, ...

Shocked


Just checking Wink They're mine alright. All my kids good points come from me. All their less than good points come from....she who must be obeyed. Of course after 40 years of marriage I can say that. Indeed I'm happily married but my wife's not


I can sort of relate, my (ex) wife and I were both very happy for over 20 years.

Then we met each other.

Culprit and TP, I get it. My dad slowly deteriorated at home with my mum looking after him, til she could cope and he was admitted to the local bush hospital which is basically a palliative care place these days. Once he went in the acceleration of the deterioration was shocking. No fault attributed to the staff at the hospital, he just couldn't deal with it. The ole morphine drip took a couple of weeks to do it's job too. I visited when he first went into the hospital but I bought the kids back to Melbourne as I couldn't cope with it.

Cancer has a distinctive smell. It coats the back of the throat so you can taste it. I hate that smell.

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Skids Cancer

Quitting drinking will be one of the best choices you make in your life.


Joined: 11 Sep 2007
Location: Joined 3/6/02 . Member #175

PostPosted: Thu Nov 01, 2018 10:39 am
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Melbourne & Sydney seem to be a bit behind Perth. Prices here have levelled out a bit, but the wealthy suburbs are booming.

Domain data shows despite Perth house prices falling 2.4 per cent during the quarter and 2.2 per cent over the year, to a median of $544,609, price growth in a handful of upper-end suburbs such as Shenton Park, Cottesloe, City Beach, West Leederville and Subiaco offered a light at the end of the tunnel for the markets recovery.

Cottesloes median house price increased 18.1 per cent during the past 12 months to $2.125 million, with 109 homes sold.

House prices in Subiaco grew 11.4 per cent to $1.058 million, with 137 homes changing hands.

The median price of houses in Shenton Park increased 15 per cent to $1.23 million, with 57 homes sold.

Often you will see the top-end comes off first off a downturn and its actually the first areas to pick up when the market starts to recover, and thats clearly what we can see, Dr Powell said.

LJ Hooker Subiaco principal Samantha Payne said overall Perth was still a buyers market where buyers were seeking bargains and sellers had to meet the market.

https://www.domain.com.au/news/the-first-areas-to-pick-up-when-the-market-starts-to-recover-the-perth-pockets-pushing-back-with-double-digit-price-growth-778626/

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partypie 



Joined: 01 Oct 2010


PostPosted: Thu Nov 01, 2018 11:02 pm
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Different story in the southwest Skids. A friend just took a big loss offloading a property near Bunbury, but he reckons things are going to get worse before they get better.

His concern is the building industry has slowed, new starts are way down on a year ago. It is a massive employer so its impacting on employment and competition for jobs.

Overseas investors are being taxed more than locals on property transactions and the depreciation rort has been cleaned up. His other concern is the impact if Labor is elected and negative gearing is abolished.

I work in the tourist industry and by my figures down about 9 per cent on last year. There is a big event here this weekend usually every property is booked out, this year only 50% are booked. The unlicensed holiday homes are impacting as well, but the real problem is the local economy.

Ive got an interview with a retailer tomorrow, as I can't afford to keep working in an industry Ive worked in for 25 years. Wish me luck.
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HAL 

Please don't shout at me - I can't help it.


Joined: 17 Mar 2003


PostPosted: Thu Nov 01, 2018 11:04 pm
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What accounts are you working on?
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K 



Joined: 09 Sep 2011


PostPosted: Thu Nov 01, 2018 11:05 pm
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partypie wrote:
...
Ive got an interview with a retailer tomorrow, as I can't afford to keep working in an industry Ive worked in for 25 years. Wish me luck.

Good luck!
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stui magpie Gemini

Prepare for the worst, hope for the best.


Joined: 03 May 2005
Location: In flagrante delicto

PostPosted: Fri Nov 02, 2018 9:01 am
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K wrote:
partypie wrote:
...
Ive got an interview with a retailer tomorrow, as I can't afford to keep working in an industry Ive worked in for 25 years. Wish me luck.

Good luck!


Ditto, good luck mate,

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Skids Cancer

Quitting drinking will be one of the best choices you make in your life.


Joined: 11 Sep 2007
Location: Joined 3/6/02 . Member #175

PostPosted: Fri Nov 02, 2018 10:48 am
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partypie wrote:
Different story in the southwest Skids. A friend just took a big loss offloading a property near Bunbury, but he reckons things are going to get worse before they get better.

His concern is the building industry has slowed, new starts are way down on a year ago. It is a massive employer so its impacting on employment and competition for jobs.

Overseas investors are being taxed more than locals on property transactions and the depreciation rort has been cleaned up. His other concern is the impact if Labor is elected and negative gearing is abolished.

I work in the tourist industry and by my figures down about 9 per cent on last year. There is a big event here this weekend usually every property is booked out, this year only 50% are booked. The unlicensed holiday homes are impacting as well, but the real problem is the local economy.

Ive got an interview with a retailer tomorrow, as I can't afford to keep working in an industry Ive worked in for 25 years. Wish me luck.


Best of luck.

I think it's going to pick up partypie,. I've been in the mining game for 15 years and seen a couple of booms and a couple of busts. Things are definitely on the improve in the NW. Airport carparks filling up, heaps more movement on the highways and Iron Ore at a healthy $US73/tonne.

There will be massive new job numbers which then rolls on down through the rest of the state. Wages are slowly on the way up in the industry too.
House prices in the Pilbara are rising.....

There was a significant increase in house sales in the Pilbara region during the June 2018 quarter.

REIWA President Hayden Groves said reiwa.com data showed sales activity had increased a significant 24.7 per cent in Karratha and 16.1 per cent in Port Hedland.

Sales were also up on an annual basis, with activity in Karratha increasing 41.2 per cent between the June 2017 and 2018 quarters and 5.2 per cent in Port Hedland, Mr Groves said.

https://reiwa.com.au/about-us/news/house-sales-increase-significantly-in-pilbara-region/


The billionaire Todd family recently signed a State Agreement with the WA Government that will pave the way for a $5 billion iron ore Balla Balla project near Karratha that is ramping up [which] will create 3000 jobs during construction and 900 workers would be recruited during production.

This upcoming development is a potential game changer for Karattha, given the large number of new workers that will enter the city. The city, which has a population of only 22,000, has had no major new residential construction for several years as a result of the property downturn.

Currently, the Karratha market is now at rock bottom with the median price in the city falling from $780,000 in 2012 to around $300,000 currently. However, this may change in the near future, considering the signs of stability in property prices recorded by Peard Real Estate Group since the start of the year.

https://www.yourinvestmentpropertymag.com.au/news/billions-of-new-investments-are-seen-to-lift-karratha-property-market-251431.aspx

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partypie 



Joined: 01 Oct 2010


PostPosted: Fri Nov 02, 2018 10:51 am
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Thanks guys Ill need it - haven't done an interview like this - ever!
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partypie 



Joined: 01 Oct 2010


PostPosted: Fri Nov 02, 2018 10:51 am
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Thanks guys Ill need it - haven't done an interview like this - ever!
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think positive Libra

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Joined: 30 Jun 2005
Location: somewhere

PostPosted: Fri Nov 02, 2018 12:34 pm
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Bit late to the party but good luck mate
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HAL 

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Joined: 17 Mar 2003


PostPosted: Fri Nov 02, 2018 12:36 pm
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Are you still located in England?
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