Can someone fill me in on the past 5yrs
- Thread starter XBenX
- Start date
Hi Team Somersoft,
What has been going on for the past 5yrs?
Just having a read through the archives trying to get back up to speed with things.
Has Steve Keen been proven right? apparently....not YET....
Did interest rates reach 999% like BIS predictions? no, but it's BIS - what did you expect?
Is gold the new black? kinda - taxi drivers are talking about gold so i'm wary.
XBenX
see pink...
Labor got voted in the surplus went and the world keeps on spinning 
Oh and the greens now have us all bent over a barrel.
Oh and the greens now have us all bent over a barrel.
Ben! Where the hell have you been man? Hibernating? Hiding under a rock? Has it really been five years? Man, time flies when you're a young, spritely fellow such as myself.
Nah, I'm just spinning out that's it's been so long. Doesn't feel like five years at all.
As Dazz said, it probably hasnt been that long.
Ive been living life, exploring the world - by snowboarding of course! Back to back winters for many years I think 03/04 was my first one?
I had to have a year off last year unfortunately (I finally joined the rest of my snow friends and had a knee reco done, Id dodged that bullet for a while) it wasnt all bad though, I spent the northern winter having my first summer in many years doing some turtle research up on Lady Musgrave Island.
I figure it's time to do some more property projects so I thought I better get back on Somersoft and get up to speed on all the latest info from the experts here =)
Id have to agree there! Wasnt he suggesting the sky was going to fall in? =P
I know as Austprop suggested that 1 house in a suburb double the median price = 2 houses in a median priced suburb,... but I stil lthink Ausprop's description, from the very llittle and much less than him that I know (not being sarcastic either), of it being equal to Keen;'s predictions were wrong... My ****ty 50 sqm t/house in a complex of 48 went down... a bit too... but we're back at where they were now...,. I thought Keen's drop was suggested to have been both bigger, but also a bit more permanent...
so you were on vacation... just a different type of vacation then I tried to imply you were on (think "Pauly's on vacation" in a NY "Forget about it" gangster voice)
so you were on vacation... just a different type of vacation then I tried to imply you were on (think "Pauly's on vacation" in a NY "Forget about it" gangster voice)
How in the world do they arrive at these figures? It's BS
I'll bet a 40% drop (from previous sold price) for properties would actually only apply to a very small handfull - all by people who had to sell in a big hurry.
Do we all seriously believe that the average property has dropped by 40% in these selected examples in Perth?
From my experience; the only joints that drop by these sorts of significant amounts are the high-end properties that get bought when people are flying high.
They are delirious with new-found wealth and buy on emotion (at the height of the market most likely) and then for various reasons they lose the stratospheric income and have to shed all the latest toys and show pieces during the slumps.
A good example was memberships at The National Golf Club here on the Peninsula; during the GFC they plummetted to $8k for a share - all yer high-enders who bought them at $15k, and got creamed, had to offload the frilly bits.
Add to this list; prestige cars, boats, holiday homes.
Your everyday Mr and Mrs. Average didn't do anything; just lived their normal life in their normal house because they couldn't afford any other type of activity in real estate.
But the media would have it that average "working families" are getting creamed.
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