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barnaby33ParticipantIt probably still applies in terms of peoples ability to service the illusion of home ownership. It does not apply in that its corollary to predict foreclosures has proven to be somewhat problematic.
Way back when, we all just assumed to rule of law applied, banks would foreclose and prices would decline. Well, we were (those of use who so believed) wrong.
It turns out that while the foreclosure numbers are staggeringly high, at least in San Diego that has not translated into improved market conditions and or affordability.
barnaby33ParticipantIt probably still applies in terms of peoples ability to service the illusion of home ownership. It does not apply in that its corollary to predict foreclosures has proven to be somewhat problematic.
Way back when, we all just assumed to rule of law applied, banks would foreclose and prices would decline. Well, we were (those of use who so believed) wrong.
It turns out that while the foreclosure numbers are staggeringly high, at least in San Diego that has not translated into improved market conditions and or affordability.
barnaby33ParticipantI’d be careful about that davelj. My parents have a fidocomiso. The bank owns the land. You get essentially a 50 year lease with at least one guaranteed renewal, but I still do not believe you own the land. Now if its 100 years I think its kind of splitting hairs, but to a lot of people there is a difference.
Joshbarnaby33ParticipantI’d be careful about that davelj. My parents have a fidocomiso. The bank owns the land. You get essentially a 50 year lease with at least one guaranteed renewal, but I still do not believe you own the land. Now if its 100 years I think its kind of splitting hairs, but to a lot of people there is a difference.
Joshbarnaby33ParticipantI’d be careful about that davelj. My parents have a fidocomiso. The bank owns the land. You get essentially a 50 year lease with at least one guaranteed renewal, but I still do not believe you own the land. Now if its 100 years I think its kind of splitting hairs, but to a lot of people there is a difference.
Joshbarnaby33ParticipantI’d be careful about that davelj. My parents have a fidocomiso. The bank owns the land. You get essentially a 50 year lease with at least one guaranteed renewal, but I still do not believe you own the land. Now if its 100 years I think its kind of splitting hairs, but to a lot of people there is a difference.
Joshbarnaby33ParticipantI’d be careful about that davelj. My parents have a fidocomiso. The bank owns the land. You get essentially a 50 year lease with at least one guaranteed renewal, but I still do not believe you own the land. Now if its 100 years I think its kind of splitting hairs, but to a lot of people there is a difference.
Joshbarnaby33ParticipantBrian linked back to this thread so I thought I’d revive it. I was just in Sydney again for 5 weeks Oct-Nov. I’ll say this, the general economy there was worse. The mining and export sectors were doing well but it was spotty. For instance The large miners were doing pretty well, but employment was harder to come by in general. IT seems to be holding up pretty well there, again based on the small sample size of friends of mine. The food court at the QVB is just as crowded as I remember!
All in all I was too premature. Sydney has remained surprisingly frothy. My close friends who I counseled not to buy, jumped in and bought a rental in Adelaide. Even if its fully rented they’ll be losing 400 a month, yikes!
Real estate bubbles die hard. Ours certainly is, and I was surprised at how resilient the Aussie bubble has been. I still feel that the points I made two years ago are valid, just as much so now. My timing however was wrong.
Joshbarnaby33ParticipantBrian linked back to this thread so I thought I’d revive it. I was just in Sydney again for 5 weeks Oct-Nov. I’ll say this, the general economy there was worse. The mining and export sectors were doing well but it was spotty. For instance The large miners were doing pretty well, but employment was harder to come by in general. IT seems to be holding up pretty well there, again based on the small sample size of friends of mine. The food court at the QVB is just as crowded as I remember!
All in all I was too premature. Sydney has remained surprisingly frothy. My close friends who I counseled not to buy, jumped in and bought a rental in Adelaide. Even if its fully rented they’ll be losing 400 a month, yikes!
Real estate bubbles die hard. Ours certainly is, and I was surprised at how resilient the Aussie bubble has been. I still feel that the points I made two years ago are valid, just as much so now. My timing however was wrong.
Joshbarnaby33ParticipantBrian linked back to this thread so I thought I’d revive it. I was just in Sydney again for 5 weeks Oct-Nov. I’ll say this, the general economy there was worse. The mining and export sectors were doing well but it was spotty. For instance The large miners were doing pretty well, but employment was harder to come by in general. IT seems to be holding up pretty well there, again based on the small sample size of friends of mine. The food court at the QVB is just as crowded as I remember!
All in all I was too premature. Sydney has remained surprisingly frothy. My close friends who I counseled not to buy, jumped in and bought a rental in Adelaide. Even if its fully rented they’ll be losing 400 a month, yikes!
Real estate bubbles die hard. Ours certainly is, and I was surprised at how resilient the Aussie bubble has been. I still feel that the points I made two years ago are valid, just as much so now. My timing however was wrong.
Joshbarnaby33ParticipantBrian linked back to this thread so I thought I’d revive it. I was just in Sydney again for 5 weeks Oct-Nov. I’ll say this, the general economy there was worse. The mining and export sectors were doing well but it was spotty. For instance The large miners were doing pretty well, but employment was harder to come by in general. IT seems to be holding up pretty well there, again based on the small sample size of friends of mine. The food court at the QVB is just as crowded as I remember!
All in all I was too premature. Sydney has remained surprisingly frothy. My close friends who I counseled not to buy, jumped in and bought a rental in Adelaide. Even if its fully rented they’ll be losing 400 a month, yikes!
Real estate bubbles die hard. Ours certainly is, and I was surprised at how resilient the Aussie bubble has been. I still feel that the points I made two years ago are valid, just as much so now. My timing however was wrong.
Joshbarnaby33ParticipantBrian linked back to this thread so I thought I’d revive it. I was just in Sydney again for 5 weeks Oct-Nov. I’ll say this, the general economy there was worse. The mining and export sectors were doing well but it was spotty. For instance The large miners were doing pretty well, but employment was harder to come by in general. IT seems to be holding up pretty well there, again based on the small sample size of friends of mine. The food court at the QVB is just as crowded as I remember!
All in all I was too premature. Sydney has remained surprisingly frothy. My close friends who I counseled not to buy, jumped in and bought a rental in Adelaide. Even if its fully rented they’ll be losing 400 a month, yikes!
Real estate bubbles die hard. Ours certainly is, and I was surprised at how resilient the Aussie bubble has been. I still feel that the points I made two years ago are valid, just as much so now. My timing however was wrong.
Joshbarnaby33ParticipantDo mean that Vantage point is solely, or even mostly responsible for a glut of units for sale? That doesn’t seem to be a realistic statement, because buyers there would seemingly be very different than buyers at BOSA or something more westerly.
barnaby33ParticipantDo mean that Vantage point is solely, or even mostly responsible for a glut of units for sale? That doesn’t seem to be a realistic statement, because buyers there would seemingly be very different than buyers at BOSA or something more westerly.
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