To See a better Monetary system google search Mathematically Perfected Economy - One Fair Tax - Zero Point Free Energy - Turn Rubbish and Sewrege Into Gas and Oil - Free Energy 400 Billion Dollar Secret - Run you car on Water
China is selling of U.S. Dollars because they will become worthless when the U.S. economy totally crashes soon. Then Europe will go down in a big way. Followed by Asia. Then Australia will slow dramatically when China cuts back spending on minerals.
So what does this all mean.... Better Times.
Debt will have to be forgiven, less Government interference and a new fairer monetary system introduced.
I agree with 90% of what you mention. I'd go further and say that the reason for the housing bubble (as with all asset bubbles) is irresponsible monetary policy first and foremost, followed by credit expansion, govt spending/policy, poor banking practices and finally a market driven further-up by speculation. Just like all previous asset bubbles, house prices will revert to the long term average i.e. 3% increase per yr approx. Houses should not be viewed as an "investment" in the tradional sense
Thankyou for posting, it's just good to keep in the loop with these sorts of things, you also explain it really well to. Much appreciated. My partner and I rent at the moment too. Cheers
my landlord said a guy offered to buy his house for $480,000.... and I said "are you fucking kidding me!!!??? A little shit box like this in a crap area for $480,000!!!!????"
and he said "well the house across the street sold for $420,000"
to which I replied "yeah and the people who bought it should be in a mental hospital, because this is fucking insanity"
im up 28% in 2.8 years on my property here in central ontario, its one of the hottest markets in all of canada tho, im sure other places are flat in the same time period
im selling in next few months, im not gonna be the one left holding the bag =/
also the majority of my friends kept saying to me "oo..you cant lose with real estate in Sydney"..."the real estate will keep going up, because all the chinese and Korean are buying like crazy".......... i know where i should stand when the sheeples think alike...
Hi John.. if we have a low supply of properties then that just drives the rent up. therefore investors are in good position wouldn't you say? they are no longer investing for capital growth but for cash flow. even then cash flow also determines the price of a property, just like a business. Rents are also going up. year by year.
Also worth mentioning is the fact we have only JUST relaxed laws regarding foreign ownership. Did you know chinese buyers are flying in on saturday mornings to attend property auctions and flying out the same evening?
@sa11ee - yeah i do. That means when I can't buy a house I know who to blame along with the government. You might have your sucked in attitude now but its going to be real fun when the next generation comes along and realises that their standard of living is lower than their parents that they are working for nothing and that the overtime they do like some North Korean serf won't get them
@Celtic450 Who has a sucked in attitude? Just pointing out the facts. Chinese and even Indian buyers are snapping up a LOT of Melbourne/Sydney properties. But I am talking fairly close to CBD in 'blue chip' or suburbs with good growth.
For anyone interested and is in Melb/Syd. Go to some of these auctions and have a look at the buyers. I think most people will be very surprised. Chinese investment into property is only going to increase!
I bet the value of your property has already risen since you sold ;o
I just think the housing shortage is too great. Using Sydney as an example, anywhere remotely close to the city, there are many many people inspecting properties that go on the market. I don't think they will simply go away. They all have jobs, they can afford the repayments. The government will do everything it can to stop prices falling. Also, the banks do not take into consideration the FHOG for deposits.
@sa11ee what do you fuckhead i am part of an entire generation that got severly ripped of by the old cunts just so they can line there pockets.Princess that is such a bogan thing to say jerk.
@67675656565655656565 Why call me a clown then? I was just trying to show a different view. I'm not a property investor, which I can see is what you are upset about. So again, why the insults/swearing?
@sa11ee there is no different view bottom line is where fucked the more people about this and do something to fix this massive problem the better.Because there is nothing that anyone can say to make things better.Did you know some average australian families are going without food just to keep a roof over there heads.Now correct me if i am wrong but this is australia right a coutnry that prides itself on being the lucky country not some third world shithole.
@67675656565655656565 I understand, and it sucks. But what's going to change? Not much in the near term. There are just not enough houses. If people are struggling they need to move to where it's more affordable. If they don't need to be near the city they can live for much cheaper further out.
@sa11ee moving to a more affordable place isnt going to fix all your problems.eg in sydney there public transport is a joke and even in the western suburbs your still paying alot for a house and its a shithole around there.So really it ll just slightly elleviate the pain.Whats going to happen is there is going to be a whole generation of kids living with there parents till there 40 and not having kids themselves,which is understandble. Government expects so much and gives so little in return.
you mean falsified money (by treacherous bureaucrats) - with real money greed is good, it powers up the whole civilization - technology, culture, education, trade etc.
Anyone is affected but banking cartel is affected positively... when all others are forced to fit the bill.
keithholden, the grants only pushed people into debt they can't pay off. When interest rates go to 8% or higher - they will sell up and flood the market.
Just drove a Billionaire property developer from OZ and he tells me it's about to breakout to the upside!! All the Billionaire I know in Aspen are bullish on stocks right NOW!!! I just bought Citigroup yesterday! The rich get richer and the poor get poorer, a quote from a friend with a net worth of over 2 Billion. He told me that about two weeks ago. He also said put most of your $ in Citigroup stock! I will come out with a video talking about this soon!
Housing is way overvaleued & is propped up by the Govt in grants, tax credits, etc. It needs to fall because prices are way too high. Some householders will be bankrupt, & there will be pain so I hope it happens slowly.
I have begged people at work - here in Melbourne NOT to buy a home - one young girl took the govt grant - because she had no savings and bought an expensive unit.
Another guy - both on average wages is about to buy house number 4....all debt.
I tried to explain to him - debt is not wealth - his response was
I just bought a house in California (Temecula) and paid about 50% less than what houses were going for in 2005.
I still think prices could go down even more but in the area I bought prices are more competitive so the drop won't be so bad and when (or IF) prices ever do go up they will increase more in affordable areas.
A 2900 square foot house (5b-3b) built in 2002 for $310,000.00
It beats a 1400 square foot home in Oceanside (becoming a ghetto) for $350,000.00
look at the us stock market the only ones making money are the crook bankers, and the market keeps going up. virtually no economy here and the paper market continues. i guess when it does turn is going to be a train wreck!
here in cali in think about every 3 house is vacant and for sale or in foreclosure guarantee home prices here are going to DIVE and i can not get out of mine?????
Come to the U.S. everything is great here. If you listen to the talking heads on the boob tube, or even our fed, that's what they're saying. So come on up and make a fortune going long Sears, and shorting gold, and silver. LOL!
My missus was recently talking to the chap at the estate agents when paying the rent (I like you got rid of my house before the crash began), he told her the market is dead in our locality. So much so that he expects house prices to fall dramatically in the coming year.
Unemployment is rising and rates of pay are dropping. I ask you in all seriousness, how can any sane individual expect house prices to increase?
I know exactly what you mean. I'm expecting that we in the US will have a double dip in housing market here. Or in other words, a double crash.
I'm also expecting that the dollar will crash and burn as well as hyper inflation sets in soon enough with all the spending and monetizing of debt done by the government.
house prices in Canada on average went up by 14% last year...I seriously was thinking of selling my house when silver was 9 to 10 bucks last year but I chickened out..oh well
Housing prices have to come down they are becoming unaffordable for the middle class. I think of it this way: If houses continue to up and wages don't with it then there will be an inevitable correction because the majority will not be able to afford them so there will be no buyers.
No worries mate. Although the Aussie dollar isn't expected to be one of The strongest, such as the Canadian, Swiss Franc, or Norwegian Kroner, it may be one of the stronger ones. Housing prices will decline, yet price inflation is the real killer and in comparison to what we face, it shouldn't be catastrophic problem...
I'd literally give my right nut to be in Australia. Too bad it ain't made of gold.
my grand parents bought a house for $1000CDN. My parents bought a house for $30000CDN. I bought a house for $100000CDN. Betting that the government won't be able to create enough inflation to raise home prices is a risky bet. I am not saying you are wrong, but I am saying that houses, like silver, are indexed to inflation.
A difference now is the giant hole a HELOC can create in the asset. So we'll see. It may end up being impossible to inflate further. Or not.
yes, but during that time that your family was buying, there were still peaks and troughs. house prices do go up over time, thats true- but they are subject to booms and busts like anything else.
Regardless of what you call it my main point was that end user prices have continued to rise.
I don't know if debt inflation is the term you're looking for. Perhaps a general increase in debt to equity ratio. And I don't see why that cannot increase further. In Singapore people hand down properties through the generation because nobody can afford them. A 2 bedroom condo easily costs a million dollars and people have micro sized mortgages with immense leverage.
it dropped, but was instantly propped by govt who moved rates to lowest on record and increased the first home buyers grants.... its starting to rollover again now.
This is a long time coming, the current and previous governments along with the oz reserve bank have continued to fuel the mother of all property bubbles over the past 15yrs in particular.
The propaganda on why property prices never fall by the banks,media and mortgage brokers has been nothing short of criminal.
The governments attempt to continually protect this property ponzi scheme from collapsing only further fueling the bubble which makes the inevitable all that much worse.
the aussie housing market is set to boom boom boom, rising immigration housing shortages blah blah blah im really sick of the mainstream media espiccailly today tnight and a current affair. they always misrepresent statistics and talk shit. But yea when the mainstream media says its going higher it means the opposite in reality. Your right john its poised to go down
I'll like to agree with your view that the housing market with pop but my gut feeling is that there plenty more upside to go...everyone wants what the jones' have! I'm happy to rent as well
John i was wondering if you could give me your two cents on whether you think the dollar carry trade would be impacted by these rate rises. I am trying to make sense of the RBA's increases. I understand domestically they might think they need to damper the economy with rate rises, but wouldnt they be effected exponetially by AUD increase hurting exporters. And i get really confused when i try to tie it into the trade deficit. I hope that made sense and i wasnt just ramblin.
The Australian trade deficit is 70% IT related, that is we import h/w and s/w but don't export much. My take on the RBA rate increases is, 'if you want resources, you are going to have to pay dearly - (China)' That way capital is attracted into the economy, the banks can lend - business can hire workers, you can afford your mortgage. Higher interest rates lessen the impact of asset price bubbles (countered by the current USD carry trade) and savers rather than speculators are rewarded.
A nice bit? What is that? Well, I did see a one-bedroom in Paris in an old building, not far from the Eiffel Tower and on an impasse, which is good, but it is ground floor, with the bedroom and bathroom in the basement, with no windows, and just a narrow stairway down there. But it does have double exposition and a nice combined kitchen/living room. 120,000 euros. This was a strangely low price, and we wonder if it's haunted or something??
haunted - ha ha ! Nice bit = nice part of town. So looks like you could get away with 150 k E. Do you think their will be a price correction in Paris ?
I'm emotionally attached to my home:)....but, I bought it before the bubble spiked so it still has monetary value too. (Also there's concern over China real estate bubble popping.) thanks john!
I dont know what to say. Even knowing 2 years back (and rapidly awakening since then) that prices had to drop, (and dumping my property) I have been surprised that AUS prices hadn't dropped all that much since then. The shocking part about this that really hit me, is that it seems obvious that more fools fell for this "first home buyers grant" than I thought would have, and now the belated "day of reckoning" approaches. :(
I know three people buying houses in the last 2 weeks. one of them my SISTER! despite my sitting down with her showing everything - she was headstrong. a LOT of people are in the market. its saturated and finished.
Excellent commentary, thanks. I pay a mortgage on a home and own a wife (in Texas) but agree that renting both is the better option in the current circumstances! Good luck to all Australians in 2010!
Good video John, the cost for our banks to acquire credit from foreign issuers is going to increase, and of course interest rates will have to increase to cover them, stricter lending criteria too, so people can demand housing in built up cities all they like, but that doesn't mean their going to qualify for a loan, and if they can't get a loan, then they can buy, so demand decreases relative to supply right?
The drastic increase in the first home buyers grant was ridiculous anyway, everyone rushes to buy a property while they get their 21 thousand dollar (maximum) hand out, and because everyone demands property at the same time, properties were jumping in price by around $100,000 and were being bought by people who couldn't even afford a deposit in the first place. So people who had insufficient financial discipline were buying properties and incurring huge debt for over priced housing...its sad
The UK is in la la land of housing and economics.Waylat from Marketoracle assures us here in the UK,against all the forces of what goes on in the rest of the world,we are having an economic recovery.Whils this is going on property "hot spots"outside London are massively over built with flats and apartments,which are empty,bur held on banks and borrowers books at full price-even though there are no buyers or renters.Talk about hiding the truth!
dude u have enough pixels to almost cover the screen. between your camera and ur editor it's ratio is getting rooted. if you need help just message me about ur editor and any compressor you use, and what settings u use in ur editor, i'll advise to fix as best as i can
Coincidently I sold my house when stellaconcept did and it was one of the hardest decisions I have ever made. And we are bombarded here in Oz with constant news and TV articles about how high property prices will rise, and it has shaken me on occasion with the constant thought of what if I am wrong but I am sticking with my decision. I agree that house prices are too high and I believe the cure for high prices is high prices.
Perhaps Kev747 knows something we don't - like an influx of VERY rich people from a contaminated Northern hemisphere, in the not - too distant future?
I'm selling up just in case the media quoted "no upward move in UK house prices for 5- 10 years" prediction turns out to be a LITTLE too opyomistic. The way I see it is; if they actualy TELL YOU you wont make any money then it's probably much worse than that. If the £ falls 10% this year then UK property loses AT LEAST 10% when priced in Gold/ Silver. Catch my drift?.
Anyway, more power to you for acting on your convictions.
We have gone the other way and gambled that *Big Inflation* will be the way out for our indebted economies, so our mortgage will be written down... who knows- good luck though...
Don't forget Aussie's little bro over the Tasman. New Zealand is exactly the same.
We didn't have any Govt home-buyers grants/credits but our prices are almost back to peak 2007 levels and price/income ratios are at Australian levels.
In some ways its actually Aussie's problem also as all our four main banks (ANZ/National Bank, ASB, BNZ, Wespac) are 100% Aussie owned.
At least your banks belong to you, the Aussie people. Here in the US, we're being bought up left and right by the rest of the world, esp. China. If you guys are smart, you'll keep it 100% Aussie, and not foreign owned.
I'm reminded of a quote from Mike Maloney how he said "You should be able to buy a medium size home for 500 oz of silver or less when silver goes to it's true value" (not the exact words but the gist of it)
Even if my silver pays for a house for me ( I'm at about 560 oz now) so I never have to get a mortgage I'd be stoked, still buying silver thou in dribs and drabs as I can afford.
Over 5 and a half % decline in new home loans in one month is outright shocking. Wow! I'm really puzzled why exactly policy makers and banks would think that the US model wouldn't happen in Oz. WTF? Seems to me that just about anyone can see that it's unsustainable and really outright lunacy to expect it to be successful. :(
The proportion are the same. The difference is the US elites ARE confident re US sheeple and the Aussie elites are not as confident about theirs but they are watching how the US elites are fleecing their sheeple ( this info NOT on Aussie main media) and are no doubt learning. Hopefully too slowly to be as effective. Sheeple are sheeple the world over and notice how they readily stand in any queue, aka., shopping, bank, tickets etc eg copy trends, imitate others as in adverts ... that is sheeple
Hmm...then I guess we're the guinea pigs over here it seems. Just exactly how much will they take, how much robbery will they tolerate without outright rebellion? What a sad state for the world to be in. I keep crossing my fingers for a French style revolution to go world-wide. I pray for it daily it seems. *sigh*
If you want an example of guinea pigs, the UK government classified every man, woman and child in Iceland as terrorists in order to pass legislation to saddle them with the debt incurred by the so called investment banks. Prime Minister has vetoed the legislation and put it to a referendum.
I'd heard about that. What a sick and twisted thing to do...I wonder if such a thing will be used against the population in the UK and US....terrorists? I somehow wouldn't be a bit surprised. Maybe a way to suppress those who are trying to fight back?
Aussie policy makers & top bank execs know it can happen they just don't want the sheeple to catch on that's why there is virtually nothing mentioned or shown in the media about what is going on abroad and future financial suicide is encouraged in the absence of contrary information for the sheeple.
Ah, sadly another case of too much power of the media in the hands of corporate and government interests -that way no real information or genuine discussion of issues takes place. You have to hand it to the bastards, they are very clever in their manipulation.
Yeah i guess we should aplogise for building up Murdoch. So i guess in some ways we were his guinea pigs for MSM but i have to admit he perfected his skills in the UK and US
Good vid. Here in France prices are slowly dropping as wages are depressed. There is a growing difference between public sector wages and private...zut alors.
Jobs is the true driver. Without a job, whos gonna lend to you. Problem in USA is a HUGE lack of good jobs MAKING things. THats the REAL problem besides the crookedness in DC and the us market.
thats not entirely true - true to a degree, but the #1 driver is a banks willingness/ability to lend. It just so happens if you have a job they are more willing, but jobs and house prices are not correlated in the sense one drives the other.
To See a better Monetary system google search Mathematically Perfected Economy - One Fair Tax - Zero Point Free Energy - Turn Rubbish and Sewrege Into Gas and Oil - Free Energy 400 Billion Dollar Secret - Run you car on Water
rexiedexie1 1 year ago
The World Economy Is Doomed.
China is selling of U.S. Dollars because they will become worthless when the U.S. economy totally crashes soon. Then Europe will go down in a big way. Followed by Asia. Then Australia will slow dramatically when China cuts back spending on minerals.
So what does this all mean.... Better Times.
Debt will have to be forgiven, less Government interference and a new fairer monetary system introduced.
rexiedexie1 1 year ago
I agree with 90% of what you mention. I'd go further and say that the reason for the housing bubble (as with all asset bubbles) is irresponsible monetary policy first and foremost, followed by credit expansion, govt spending/policy, poor banking practices and finally a market driven further-up by speculation. Just like all previous asset bubbles, house prices will revert to the long term average i.e. 3% increase per yr approx. Houses should not be viewed as an "investment" in the tradional sense
cabgt 1 year ago
Thankyou for posting, it's just good to keep in the loop with these sorts of things, you also explain it really well to. Much appreciated. My partner and I rent at the moment too. Cheers
missy1905 2 years ago
Change to 480p instead of 360p and it played
for me
bellongia1 2 years ago
This has been flagged as spam show
John
I can't play this video either
Can you up load it again Pleaseeeeeees
bellongia1 2 years ago
Just backed a horse called Silver Bullion at 31.50 to 1.
It won!!!!! at Flemington!
Oh YEAH!
dojufitz 2 years ago
Hahaha nice!
stellaconcepts 2 years ago
watch?v=lKR5q1rUxV8
Qualitatively 2 years ago
Have the bankers pulled this video LOL
cityslickeroz 2 years ago
so are you saying it is a good idea to invest in an over inflated oz property market? I believe it 1 big scam
cityslickeroz 2 years ago 2
I cant play the vid :(
dystopiastu83 2 years ago
This is one of your best videos by far...i REALLY enjoyed it. More RE vids in the future plz?
RikaKazak 2 years ago
I can't play this video either
alstar70 2 years ago
Me too, this vid should be called 'Bailouts, Stimulus and the black hole' lol
geniusmarketing08 2 years ago
I have tried 4 times to view this vid...
And all i get is a spinning wheel in the middle..
WTF....
hypobusa 2 years ago
my landlord said a guy offered to buy his house for $480,000.... and I said "are you fucking kidding me!!!??? A little shit box like this in a crap area for $480,000!!!!????"
and he said "well the house across the street sold for $420,000"
to which I replied "yeah and the people who bought it should be in a mental hospital, because this is fucking insanity"
It won't last, that's for fuckin sure.
luke666808g 2 years ago
damn nice! profit from others failure my friend!
solojam 2 years ago
I got out of real estate here in Canada a few months ago. The market has been pretty quiet since then. I wonder where it will go this year.
drutter 2 years ago
im up 28% in 2.8 years on my property here in central ontario, its one of the hottest markets in all of canada tho, im sure other places are flat in the same time period
im selling in next few months, im not gonna be the one left holding the bag =/
solojam 2 years ago
also the majority of my friends kept saying to me "oo..you cant lose with real estate in Sydney"..."the real estate will keep going up, because all the chinese and Korean are buying like crazy".......... i know where i should stand when the sheeples think alike...
maxlinga 2 years ago
Comment removed
SureJuJu 1 month ago
@maxlinga You are a very stupid green pig!
SureJuJu 1 month ago
wow..i live in Sydney and wanted to ask you a quetion about housing prices in Oz a week ago, and now u answered my question! thanx buddy
love your channel, thank you so much!
maxlinga 2 years ago
@maxlinga Go back to where you come from!
SureJuJu 1 month ago
Hi John.. if we have a low supply of properties then that just drives the rent up. therefore investors are in good position wouldn't you say? they are no longer investing for capital growth but for cash flow. even then cash flow also determines the price of a property, just like a business. Rents are also going up. year by year.
raymondk2005 2 years ago
Banks and their ability to lend determine housing prices.
stellaconcepts 2 years ago
Also worth mentioning is the fact we have only JUST relaxed laws regarding foreign ownership. Did you know chinese buyers are flying in on saturday mornings to attend property auctions and flying out the same evening?
sa11ee 2 years ago
@sa11ee - yeah i do. That means when I can't buy a house I know who to blame along with the government. You might have your sucked in attitude now but its going to be real fun when the next generation comes along and realises that their standard of living is lower than their parents that they are working for nothing and that the overtime they do like some North Korean serf won't get them
Celtic450 1 year ago
@Celtic450 Who has a sucked in attitude? Just pointing out the facts. Chinese and even Indian buyers are snapping up a LOT of Melbourne/Sydney properties. But I am talking fairly close to CBD in 'blue chip' or suburbs with good growth.
For anyone interested and is in Melb/Syd. Go to some of these auctions and have a look at the buyers. I think most people will be very surprised. Chinese investment into property is only going to increase!
sa11ee 1 year ago
I bet the value of your property has already risen since you sold ;o
I just think the housing shortage is too great. Using Sydney as an example, anywhere remotely close to the city, there are many many people inspecting properties that go on the market. I don't think they will simply go away. They all have jobs, they can afford the repayments. The government will do everything it can to stop prices falling. Also, the banks do not take into consideration the FHOG for deposits.
sa11ee 2 years ago
only buy about $20,000.
And considering im saving 2500 a month (mortgage compared to rent) - I'm actually in a better position cash flow.
Plus, the silver I bought with my equity has appreciated somewhat as well.
stellaconcepts 2 years ago
@sa11ee fuck off you clown
67675656565655656565 1 year ago
@67675656565655656565 Why so angry princess?
sa11ee 1 year ago
@sa11ee what do you fuckhead i am part of an entire generation that got severly ripped of by the old cunts just so they can line there pockets.Princess that is such a bogan thing to say jerk.
67675656565655656565 1 year ago
@67675656565655656565 Why call me a clown then? I was just trying to show a different view. I'm not a property investor, which I can see is what you are upset about. So again, why the insults/swearing?
sa11ee 1 year ago
@sa11ee there is no different view bottom line is where fucked the more people about this and do something to fix this massive problem the better.Because there is nothing that anyone can say to make things better.Did you know some average australian families are going without food just to keep a roof over there heads.Now correct me if i am wrong but this is australia right a coutnry that prides itself on being the lucky country not some third world shithole.
67675656565655656565 1 year ago
@67675656565655656565 I understand, and it sucks. But what's going to change? Not much in the near term. There are just not enough houses. If people are struggling they need to move to where it's more affordable. If they don't need to be near the city they can live for much cheaper further out.
sa11ee 1 year ago
@sa11ee moving to a more affordable place isnt going to fix all your problems.eg in sydney there public transport is a joke and even in the western suburbs your still paying alot for a house and its a shithole around there.So really it ll just slightly elleviate the pain.Whats going to happen is there is going to be a whole generation of kids living with there parents till there 40 and not having kids themselves,which is understandble. Government expects so much and gives so little in return.
67675656565655656565 1 year ago
video working?
dystopiastu83 2 years ago
Hmm, vid doesnt work for me either and Im just across the ditch :( Will try again tomorrow.
geniusmarketing08 2 years ago
Yep, we're rooted.
JollyMunkie 2 years ago
great video, with you 100% just a matter of time now
cityslickeroz 2 years ago
Their are so many people who laughed at me that I will laugh at when this happens hehe, cait wait for it, plus i want f flippen house! lol
fox20012 2 years ago
Correct again John. Property people just won't accept it and real estate agents keep talking the market up. The bubble has to burst! Cheers
fezz569 2 years ago 2
Hope it lets Oz down gently. Everybody there should be watching what happened over here in the US.
whiskerchild 2 years ago
ahhhhhhhhh mate: eggzelent video., as usual.
jhi1947 2 years ago
right on bro, selling my house by march, im up 28% in 3 years on my house, no way in hell is that going to sustain for much longer!
solojam 2 years ago
Incredible, how such rich in resources country like Australia is brought to it's knees by fiat currency system...
grraadd 2 years ago
anyone is effected when you have money to freely available and speculation/greed occurs
solojam 2 years ago
you mean falsified money (by treacherous bureaucrats) - with real money greed is good, it powers up the whole civilization - technology, culture, education, trade etc.
Anyone is affected but banking cartel is affected positively... when all others are forced to fit the bill.
grraadd 2 years ago
either way you will still have greed take over, its a stronger emotion just like fear over love, maybe in 1000 years it will be different, doubtful
solojam 2 years ago
Housing grants have pushed buyers forward, who will take up the slack when its gone.
Imigrants from nz?
keithholden 2 years ago
keithholden, the grants only pushed people into debt they can't pay off. When interest rates go to 8% or higher - they will sell up and flood the market.
imre1000 2 years ago
Just drove a Billionaire property developer from OZ and he tells me it's about to breakout to the upside!! All the Billionaire I know in Aspen are bullish on stocks right NOW!!! I just bought Citigroup yesterday! The rich get richer and the poor get poorer, a quote from a friend with a net worth of over 2 Billion. He told me that about two weeks ago. He also said put most of your $ in Citigroup stock! I will come out with a video talking about this soon!
Aloha Shawn
shawnaspen25 2 years ago
do you know his name?
stellaconcepts 2 years ago
lol citi is bankrupt right now, they just haven't told you yet
solojam 2 years ago 4
Housing is way overvaleued & is propped up by the Govt in grants, tax credits, etc. It needs to fall because prices are way too high. Some householders will be bankrupt, & there will be pain so I hope it happens slowly.
xfiles987 2 years ago
I have begged people at work - here in Melbourne NOT to buy a home - one young girl took the govt grant - because she had no savings and bought an expensive unit.
Another guy - both on average wages is about to buy house number 4....all debt.
I tried to explain to him - debt is not wealth - his response was
'i'll just sell them all if the SHTF'.......
dojufitz 2 years ago
Here in little old Adelaide, last years 700k house is 1.1M
DavidAKZ 2 years ago
Comment removed
maxlinga 2 years ago
Great vid.
lindabebe835 2 years ago
I just bought a house in California (Temecula) and paid about 50% less than what houses were going for in 2005.
I still think prices could go down even more but in the area I bought prices are more competitive so the drop won't be so bad and when (or IF) prices ever do go up they will increase more in affordable areas.
A 2900 square foot house (5b-3b) built in 2002 for $310,000.00
It beats a 1400 square foot home in Oceanside (becoming a ghetto) for $350,000.00
I'll deal with the commute.
espada9 2 years ago
Did you have to / were able to borrow much ?
DavidAKZ 2 years ago
look at the us stock market the only ones making money are the crook bankers, and the market keeps going up. virtually no economy here and the paper market continues. i guess when it does turn is going to be a train wreck!
redline1189 2 years ago 2
here in cali in think about every 3 house is vacant and for sale or in foreclosure guarantee home prices here are going to DIVE and i can not get out of mine?????
redline1189 2 years ago
Come to the U.S. everything is great here. If you listen to the talking heads on the boob tube, or even our fed, that's what they're saying. So come on up and make a fortune going long Sears, and shorting gold, and silver. LOL!
62636263c 2 years ago
Do you think the Aussie stock market can go up regardless of housing due to commodity strength?
GypsyHustle 2 years ago
John, the UK market is exactly the same.
My missus was recently talking to the chap at the estate agents when paying the rent (I like you got rid of my house before the crash began), he told her the market is dead in our locality. So much so that he expects house prices to fall dramatically in the coming year.
Unemployment is rising and rates of pay are dropping. I ask you in all seriousness, how can any sane individual expect house prices to increase?
It's a no brainer.
NowisEvollovetion 2 years ago 3
Hey Stella,
I know exactly what you mean. I'm expecting that we in the US will have a double dip in housing market here. Or in other words, a double crash.
I'm also expecting that the dollar will crash and burn as well as hyper inflation sets in soon enough with all the spending and monetizing of debt done by the government.
Also, I rent too. :)
siskadeyoung 2 years ago
house prices in Canada on average went up by 14% last year...I seriously was thinking of selling my house when silver was 9 to 10 bucks last year but I chickened out..oh well
mike6459 2 years ago
Very Good video,
Thank you!
capcom101you 2 years ago
Housing prices have to come down they are becoming unaffordable for the middle class. I think of it this way: If houses continue to up and wages don't with it then there will be an inevitable correction because the majority will not be able to afford them so there will be no buyers.
Stuballs84 2 years ago
No worries mate. Although the Aussie dollar isn't expected to be one of The strongest, such as the Canadian, Swiss Franc, or Norwegian Kroner, it may be one of the stronger ones. Housing prices will decline, yet price inflation is the real killer and in comparison to what we face, it shouldn't be catastrophic problem...
I'd literally give my right nut to be in Australia. Too bad it ain't made of gold.
InTheSticks1881 2 years ago
I don't know about this,
my grand parents bought a house for $1000CDN. My parents bought a house for $30000CDN. I bought a house for $100000CDN. Betting that the government won't be able to create enough inflation to raise home prices is a risky bet. I am not saying you are wrong, but I am saying that houses, like silver, are indexed to inflation.
A difference now is the giant hole a HELOC can create in the asset. So we'll see. It may end up being impossible to inflate further. Or not.
yogiudo 2 years ago
yes, but during that time that your family was buying, there were still peaks and troughs. house prices do go up over time, thats true- but they are subject to booms and busts like anything else.
stellaconcepts 2 years ago
You're grand parents paid cash right ? Your parents borrowed x with y down ? You borrowed 2x with y -> 0 down. That's called debt inflation
DavidAKZ 2 years ago
Regardless of what you call it my main point was that end user prices have continued to rise.
I don't know if debt inflation is the term you're looking for. Perhaps a general increase in debt to equity ratio. And I don't see why that cannot increase further. In Singapore people hand down properties through the generation because nobody can afford them. A 2 bedroom condo easily costs a million dollars and people have micro sized mortgages with immense leverage.
I just don't know.
yogiudo 2 years ago
moneyasdebt . net
DavidAKZ 2 years ago
Thought Oz housing had already roled over.
Nuanceqwest 2 years ago
it dropped, but was instantly propped by govt who moved rates to lowest on record and increased the first home buyers grants.... its starting to rollover again now.
stellaconcepts 2 years ago
This is a long time coming, the current and previous governments along with the oz reserve bank have continued to fuel the mother of all property bubbles over the past 15yrs in particular.
The propaganda on why property prices never fall by the banks,media and mortgage brokers has been nothing short of criminal.
The governments attempt to continually protect this property ponzi scheme from collapsing only further fueling the bubble which makes the inevitable all that much worse.
peace
cityslickeroz 2 years ago
Equity Mate ! ;-)
DavidAKZ 2 years ago
Debt based living is a lifetime of enslavement. Destroys wealth except for a select few.
RenegadeTimes 2 years ago 2
the aussie housing market is set to boom boom boom, rising immigration housing shortages blah blah blah im really sick of the mainstream media espiccailly today tnight and a current affair. they always misrepresent statistics and talk shit. But yea when the mainstream media says its going higher it means the opposite in reality. Your right john its poised to go down
nickstar717 2 years ago
Cheers John,
I will send this vid to my friends in Oz who think they have it made in the sun.(Wish i could send thiem this bloody weather too)
GuildF40 2 years ago
@GuildF40 If your talking about cold weather please use express post, its been over 40 for the last three days.
mikfax 2 years ago
LOL trust me you don't want this weather tis sleet and snow here right now BRRRRRRRRRRRRRRRRRRR
GuildF40 2 years ago
I'll like to agree with your view that the housing market with pop but my gut feeling is that there plenty more upside to go...everyone wants what the jones' have! I'm happy to rent as well
MrFuturepac 2 years ago
John i was wondering if you could give me your two cents on whether you think the dollar carry trade would be impacted by these rate rises. I am trying to make sense of the RBA's increases. I understand domestically they might think they need to damper the economy with rate rises, but wouldnt they be effected exponetially by AUD increase hurting exporters. And i get really confused when i try to tie it into the trade deficit. I hope that made sense and i wasnt just ramblin.
mikfax 2 years ago
The Australian trade deficit is 70% IT related, that is we import h/w and s/w but don't export much. My take on the RBA rate increases is, 'if you want resources, you are going to have to pay dearly - (China)' That way capital is attracted into the economy, the banks can lend - business can hire workers, you can afford your mortgage. Higher interest rates lessen the impact of asset price bubbles (countered by the current USD carry trade) and savers rather than speculators are rewarded.
DavidAKZ 2 years ago
Whats the next boom old mate ? its all been done
nothing in the tank Now ..
TheAngryFishermen 2 years ago
Nah, carbon trading and environment futures
DavidAKZ 2 years ago
not only housing, a drop like that will kill the construction & remodeling industry.
stealinator 2 years ago
I agree, it will go way, way down in Australia, based on what I have been seeing. Prices are very low in France, but Paris is still overpriced.
slobomotion 2 years ago
What can you pay for a one bedroom apartment in a nice bit thanks ?
DavidAKZ 2 years ago
A nice bit? What is that? Well, I did see a one-bedroom in Paris in an old building, not far from the Eiffel Tower and on an impasse, which is good, but it is ground floor, with the bedroom and bathroom in the basement, with no windows, and just a narrow stairway down there. But it does have double exposition and a nice combined kitchen/living room. 120,000 euros. This was a strangely low price, and we wonder if it's haunted or something??
slobomotion 2 years ago
haunted - ha ha ! Nice bit = nice part of town. So looks like you could get away with 150 k E. Do you think their will be a price correction in Paris ?
DavidAKZ 2 years ago
It was very small, that place. No, I don't think so. We are favoring Rennes at this point. Check it out. Fast ride on the TGV, not too bad by auto.
slobomotion 2 years ago
Looks nice courtesy of Google Maps. Tree lined streets, Jardin de Luxembourg avec le tennis ! Tres bon. Merci
DavidAKZ 2 years ago
I'm emotionally attached to my home:)....but, I bought it before the bubble spiked so it still has monetary value too. (Also there's concern over China real estate bubble popping.) thanks john!
fal2grace 2 years ago
I dont know what to say. Even knowing 2 years back (and rapidly awakening since then) that prices had to drop, (and dumping my property) I have been surprised that AUS prices hadn't dropped all that much since then. The shocking part about this that really hit me, is that it seems obvious that more fools fell for this "first home buyers grant" than I thought would have, and now the belated "day of reckoning" approaches. :(
kitten123456779 2 years ago
I know three people buying houses in the last 2 weeks. one of them my SISTER! despite my sitting down with her showing everything - she was headstrong. a LOT of people are in the market. its saturated and finished.
stellaconcepts 2 years ago
Excellent commentary, thanks. I pay a mortgage on a home and own a wife (in Texas) but agree that renting both is the better option in the current circumstances! Good luck to all Australians in 2010!
thirdcoastguy 2 years ago 3
You own your wives in Texas?, wow. Renting a wife sounds like fun ; )
ShillBasher 2 years ago 2
Watch Big Love on SBS. He must be a Mormon ;-)
DavidAKZ 2 years ago
Steve Keen was on tv tonight, he reckons Australian property prices should start to head downwards by about September this year
mlndstream 2 years ago
Good video John, the cost for our banks to acquire credit from foreign issuers is going to increase, and of course interest rates will have to increase to cover them, stricter lending criteria too, so people can demand housing in built up cities all they like, but that doesn't mean their going to qualify for a loan, and if they can't get a loan, then they can buy, so demand decreases relative to supply right?
mlndstream 2 years ago
I'm an American from LA living in Melbourne....I lived thru the BOOM and BUST in the US....it's just a matter of time before it happens here.
When I try to warn people they laugh at me and say it won't/can't happen here....I say POP goes the weasel...!!!!
Melbnolan 2 years ago
Australians -per head of population- owe more than Americans now.
DavidAKZ 2 years ago
And we're fatter.
JollyMunkie 2 years ago
Good video!
lizadfuel 2 years ago
The drastic increase in the first home buyers grant was ridiculous anyway, everyone rushes to buy a property while they get their 21 thousand dollar (maximum) hand out, and because everyone demands property at the same time, properties were jumping in price by around $100,000 and were being bought by people who couldn't even afford a deposit in the first place. So people who had insufficient financial discipline were buying properties and incurring huge debt for over priced housing...its sad
mlndstream 2 years ago 2
The UK is in la la land of housing and economics.Waylat from Marketoracle assures us here in the UK,against all the forces of what goes on in the rest of the world,we are having an economic recovery.Whils this is going on property "hot spots"outside London are massively over built with flats and apartments,which are empty,bur held on banks and borrowers books at full price-even though there are no buyers or renters.Talk about hiding the truth!
justjacqueline2004 2 years ago 3
Great video john..
WeLoveAlexJones 2 years ago
Here in Canada as well. They said our banks are perfect and our housing market is sound. Far from it.
smasila 2 years ago 2
dude u have enough pixels to almost cover the screen. between your camera and ur editor it's ratio is getting rooted. if you need help just message me about ur editor and any compressor you use, and what settings u use in ur editor, i'll advise to fix as best as i can
genghis6l99 2 years ago
Hmm...
profesas 2 years ago
hmmm.... :)
stellaconcepts 2 years ago
im just trying to figure out how things will turn out,
back in 2003/4 i bought a 2 bedroom unit around the 220k mark.
after 6 years down the track, if i sell i just get my money back.
gold back then was around the $680 per ounce (aussie). now its around the $1300.
if only i knew back then about gold/silver,.........
profesas 2 years ago
location, location, location
DavidAKZ 2 years ago
Coincidently I sold my house when stellaconcept did and it was one of the hardest decisions I have ever made. And we are bombarded here in Oz with constant news and TV articles about how high property prices will rise, and it has shaken me on occasion with the constant thought of what if I am wrong but I am sticking with my decision. I agree that house prices are too high and I believe the cure for high prices is high prices.
ShaneChiswick 2 years ago
Perhaps Kev747 knows something we don't - like an influx of VERY rich people from a contaminated Northern hemisphere, in the not - too distant future?
Get my drift?
jamiedore 2 years ago
thats a leap... and if thats the case then silver and gold will be able to buy you any house you want ;)
stellaconcepts 2 years ago
From a UK perspective; we mirror much of what you are saying.
The debate here remains heated however and it's been so wide open for so long that we have cobwebs across it.
YES we still have folk who believe that 7 times earnings is a reasonable level from which house prices can rise in the face of growing unemployment.
These aren't just sheeple - they are headstrong about it.
Call me a jaundiced cynic.
sureseam 2 years ago
sureseam:
You're a jaundiced cynic.....
welcome to the club : )
I'm selling up just in case the media quoted "no upward move in UK house prices for 5- 10 years" prediction turns out to be a LITTLE too opyomistic. The way I see it is; if they actualy TELL YOU you wont make any money then it's probably much worse than that. If the £ falls 10% this year then UK property loses AT LEAST 10% when priced in Gold/ Silver. Catch my drift?.
ShillBasher 2 years ago
good vid.
If anyone wants to buy silver and gold at a great price PM me. 100% FB on ebay. Peace
hiphopsocnroc 2 years ago
message me whenever you want ;)
stellaconcepts 2 years ago
Did you get any equity from selling your house?
Anyway, more power to you for acting on your convictions.
We have gone the other way and gambled that *Big Inflation* will be the way out for our indebted economies, so our mortgage will be written down... who knows- good luck though...
felixdov 2 years ago
yea i had a fair bit of equity - put it all into silver at $AU15 ;)
yea u might be right on your strategy...
stellaconcepts 2 years ago
Don't forget Aussie's little bro over the Tasman. New Zealand is exactly the same.
We didn't have any Govt home-buyers grants/credits but our prices are almost back to peak 2007 levels and price/income ratios are at Australian levels.
In some ways its actually Aussie's problem also as all our four main banks (ANZ/National Bank, ASB, BNZ, Wespac) are 100% Aussie owned.
Matlock1974 2 years ago
Ah yes our cuzzies across the ditch., on the east island of Oz.
NZ is a great place, and I think prices are just as inflated in NZ as they here in OZ.
ShaneChiswick 2 years ago
Mat:
At least your banks belong to you, the Aussie people. Here in the US, we're being bought up left and right by the rest of the world, esp. China. If you guys are smart, you'll keep it 100% Aussie, and not foreign owned.
whiskerchild 2 years ago
It seems the biggest line of resistance is Perth Mint's $20 aussie silver bid price - it just wont crack it!
mallamoozoo 2 years ago 3
i know i find myself staring at that...
stellaconcepts 2 years ago
Yea, this time Silver is around $20.00 AUD per ounce on a correction. We will see Silver beyond $21.00 per ounce this year.
Were at a point where the Silver price will keep on going up even if the AUD/USD is @ $1.00
linux23dragon2008 2 years ago
I'm reminded of a quote from Mike Maloney how he said "You should be able to buy a medium size home for 500 oz of silver or less when silver goes to it's true value" (not the exact words but the gist of it)
Even if my silver pays for a house for me ( I'm at about 560 oz now) so I never have to get a mortgage I'd be stoked, still buying silver thou in dribs and drabs as I can afford.
Excidium567 2 years ago 6
My goal is to get to 500 oz for that idea alone, give or take 10%.
Just keep buying when I can... love to stack em!
cowboycarl04 2 years ago
Over 5 and a half % decline in new home loans in one month is outright shocking. Wow! I'm really puzzled why exactly policy makers and banks would think that the US model wouldn't happen in Oz. WTF? Seems to me that just about anyone can see that it's unsustainable and really outright lunacy to expect it to be successful. :(
Thanks John
AfterTheFox75 2 years ago
Because too many Aussies are fool sheeple.
edmack4me 2 years ago
Can't be as many as the "fool sheeple" in the US surely! I figured Aussies to be more clever than most of us yanks.
AfterTheFox75 2 years ago
The proportion are the same. The difference is the US elites ARE confident re US sheeple and the Aussie elites are not as confident about theirs but they are watching how the US elites are fleecing their sheeple ( this info NOT on Aussie main media) and are no doubt learning. Hopefully too slowly to be as effective. Sheeple are sheeple the world over and notice how they readily stand in any queue, aka., shopping, bank, tickets etc eg copy trends, imitate others as in adverts ... that is sheeple
edmack4me 2 years ago 3
Hmm...then I guess we're the guinea pigs over here it seems. Just exactly how much will they take, how much robbery will they tolerate without outright rebellion? What a sad state for the world to be in. I keep crossing my fingers for a French style revolution to go world-wide. I pray for it daily it seems. *sigh*
AfterTheFox75 2 years ago
If you want an example of guinea pigs, the UK government classified every man, woman and child in Iceland as terrorists in order to pass legislation to saddle them with the debt incurred by the so called investment banks. Prime Minister has vetoed the legislation and put it to a referendum.
DavidAKZ 2 years ago
I'd heard about that. What a sick and twisted thing to do...I wonder if such a thing will be used against the population in the UK and US....terrorists? I somehow wouldn't be a bit surprised. Maybe a way to suppress those who are trying to fight back?
AfterTheFox75 2 years ago
Aussie policy makers & top bank execs know it can happen they just don't want the sheeple to catch on that's why there is virtually nothing mentioned or shown in the media about what is going on abroad and future financial suicide is encouraged in the absence of contrary information for the sheeple.
edmack4me 2 years ago 2
Ah, sadly another case of too much power of the media in the hands of corporate and government interests -that way no real information or genuine discussion of issues takes place. You have to hand it to the bastards, they are very clever in their manipulation.
AfterTheFox75 2 years ago
Yeah i guess we should aplogise for building up Murdoch. So i guess in some ways we were his guinea pigs for MSM but i have to admit he perfected his skills in the UK and US
mikfax 2 years ago
Except for Barnabie Joice out burts of course !
DavidAKZ 2 years ago
Comment removed
Celtic450 1 year ago
Good vid. Here in France prices are slowly dropping as wages are depressed. There is a growing difference between public sector wages and private...zut alors.
MyLittleFunk 2 years ago
Jobs is the true driver. Without a job, whos gonna lend to you. Problem in USA is a HUGE lack of good jobs MAKING things. THats the REAL problem besides the crookedness in DC and the us market.
1mealperday 2 years ago
thats not entirely true - true to a degree, but the #1 driver is a banks willingness/ability to lend. It just so happens if you have a job they are more willing, but jobs and house prices are not correlated in the sense one drives the other.
stellaconcepts 2 years ago
thanks for making a video responding to my comment.
rydaug79 2 years ago