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@caoimhaoin[/USER] , @[USER=236]Fitzy & all other budgie smugglers. GET OUT NOW.
http://au.news.yahoo.com/nsw/a/21327193/australia-suffer-biggest-property-collapse-great-depression/
[quote=âcarryharry, post: 901961, member: 1517â]@caoimhaoin[/USER] , @[USER=236]Fitzy & all other budgie smugglers. GET OUT NOW.
http://au.news.yahoo.com/nsw/a/21327193/australia-suffer-biggest-property-collapse-great-depression/[/quote]
Sure I could tell you that. Itâs cranked up here if anything. The builders, property agents and lenders are trying to hook as many fools as possible before it happens. And heâs right, itâs going to be a violent one.
[quote=âcarryharry, post: 901961, member: 1517â]@caoimhaoin[/USER] , @[USER=236]Fitzy & all other budgie smugglers. GET OUT NOW.
http://au.news.yahoo.com/nsw/a/21327193/australia-suffer-biggest-property-collapse-great-depression/[/quote]
Historically the multiple of income to house price is in the range 3.5-4. UK is at about 6 at the moment and is in bubble terriroty. But 10?? Fucking hell.
Not to mention the other debt. Whatâs going to make this worse is everything else the Aussies (West Aussies at least) on hire purchase. The boats, uteâs, cars, quad bikes. You go to peopleâs houses here and there is absolutely no room to park or bring in tools or anything. Yet when you talk to them there is often only a couple living there with maybe the youngest kid, and itâs like the lawn of a Mexican family in LA out the front. 3 cars, a Ute, a boat and trailer etc. the soccer mom equivalent here have these massive SUVâs, the husband will have a car or a ute, but they also have a weekend trekking type 4 wheel drive like a Land Cruiser or Prado. Itâs nuts.
The other section then is the Holden SS driving big and who are completely up to their noses in debt. Some got labouring work in the mines and were making good money and got lines in the back of it, but now work in a parts store or something unskilled and are struggling to keep everythingâs going. The amount of 75k Holden SS cars in lower working class areas is bemusing.
Itâs the idiocy of Ireland combined with the excess of the US. Itâs going to be tragic.
[quote=âcaoimhaoin, post: 902019, member: 273â]Not to mention the other debt. Whatâs going to make this worse is everything else the Aussies (West Aussies at least) on hire purchase. The boats, uteâs, cars, quad bikes. You go to peopleâs houses here and there is absolutely no room to park or bring in tools or anything. Yet when you talk to them there is often only a couple living there with maybe the youngest kid, and itâs like the lawn of a Mexican family in LA out the front. 3 cars, a Ute, a boat and trailer etc. the soccer mom equivalent here have these massive SUVâs, the husband will have a car or a ute, but they also have a weekend trekking type 4 wheel drive like a Land Cruiser or Prado. Itâs nuts.
The other section then is the Holden SS driving big and who are completely up to their noses in debt. Some got labouring work in the mines and were making good money and got lines in the back of it, but now work in a parts store or something unskilled and are struggling to keep everythingâs going. The amount of 75k Holden SS cars in lower working class areas is bemusing.
Itâs the idiocy of Ireland combined with the excess of the US. Itâs going to be tragic.[/quote]
This post above highlights the beauty of this thread.
A mate of mine over here comes from Perth, his brother was here for Christmas 2012. Went for a few beers. Accountant, nice guy, 3 kids etc. He nearly went apeshit when I suggested in my gentle way that Oz might be in serious bubble territory.
Itâs dawning on the educated an socially aware alright, but in general they get very upset at a such suggestions. They take everything so personally, plus they also think weâre stupid and wouldnât know what weâre talking about. They are quite disiliousioned about themselves. And they hate facts and stats. Iâve been told âmate thatâs Ireland, thatâs not going to happen here, we wouldnât let that happenâ.
My big problem is the exchange rate. Itâs fucking horrible right now. And Iâm not waiting for a collapse.
@caoimhaoin , how are shite enough old petrol cars like Almeraâs & Corrollaâs so fucking expensive over there? Are smaller engine Petrol cars starting to become popular or are big 3-4lt guzzlers still all the rage?
Shut the fuck up you dumb junkie, asking stupid fucking questions.:rolleyes:
The rivers are good and high these days, go swimming.
Aussies are thick inbred hicks, no arguments there, but to be fair to them, can you imagine having Irish people arrive over seeking refuge from their own failed economy and start preaching to them about economic matters? Itâd be hard to keep a straight face as you chewed on you tinny while slapping your wife about and talking trash about the abbos down by the billabong.
What the fuck are you shitting about now? Would you ever shut the fuck up talking out your hole. :rolleyes:
Talking down an economy in itself becomes a self fulfilling prophesy. Consumer sentiment will weaken and people will stop buying real estate, leaving a supply that far outstrips demand. All the ancillary services then will also feel the fall out. I imagine Australia is a really expensive place to do business and the correction will be fairly painful for much of the Aussie public. I cannot fathom how a p/E multiple of 10 for housing is sustainable. It is beyond comprehension.
Once âthe fundamentalsâ are ok then Oz will be sound. I take it the fundamentals are ok then?
Weâre not really ones to be laughing at anyone. Iâm just pointing out how unbelievable it is history continues to repeat itself and people ignore reality over and over again.
And personally I donât like watching people suffer no matter where they are from. Even though a lot of lads here seem to revel in it.
I owe nothing mate, absolutely nothing.
Of course you wouldnât know or understand the context of these discussions (usually started by the Aussie). I happen to believ we are more qualified to talk about it than most.
Itâs kinda bollix really. That rhetoric was thrown out by FF covering up everything. The fact is if the numbers donât stack up the numbers donât stack up. If you borrow and spend more than you can afford it will catch up with you. If thatâs done on a grand scale you get recession. Bottom line
Mate, Abbotts in charge now, according to him, Australia is open for business and under new mangement, sure itâll be grand.