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You don't know Australian psyche that housing double's in price every 7 years and the safest investment you can ever make and you will never lose money. Idioti

by hackits 10y ago

You don't know Australian psyche that housing double's in price every 7 years and the safest investment you can ever make and you will never lose money. Idiotic, illogical, but that's the country I live in.

astrodust 10y ago
I'm living in a bubble too where people's memory of the mid 1990s when things went to shit, and the mid 1980s when things when to shit, and the 1970s when things went to shit are gone. The US had a wake-up call in 2008 that a lot of countries missed. Canada snoozed right through that and went on trucking like we'll never have to deal with a downturn. That's why creaky, practically condemned houses are selling for over $1M: http://www.theglobeandmail.com/real-estate/toronto/a-million-dollars-now-buys-a-tear-down-in-torontos-greektown/article33957589/ http://www.theglobeandmail.com/real-estate/toronto/a-million... It's "detached" so it's obviously worth a million bucks since that's the average price of these things now. What if that house goes for $2M? $5M? $20M? The bubble must give out at some point. Those prices will not keep going up forever.
- hackits 10y ago
  What do you mean it had a wake-up call in 2008? Looking at the data its surpassed 2008 prior levels! https://mhanson.com/2-1-hanson-house-prices-main-street-bubble-1-0-echo/ https://mhanson.com/2-1-hanson-house-prices-main-street-bubb... It's like the world collectively said `Yeah this is bad, lets do exactly the same thing but BIGGER!`
  - astrodust 10y ago
    Tech securities and real-estate prices have been pretty bonkers lately. If those two things implode something else will bubble up instead. It's like there's too much money in the world or something. This is like trying to get rid of a big bubble in a waterbed. Once you think you've jiggled it out of existence it just comes up somewhere else.
    - hackits 10y ago
      btw the prior comment was a bit of sarcasm. I sometimes wonder about the bubble prices and just conclude there is something else going on in the macro level that I'm un-aware off. A lot of the fundermental concepts such as supply and demand for housing has been de-coupled so you have low demand but still prices remain high in some parts of the country. I do think that at a fundermental level it just shows a complete lack of governance of politicians why is it is this bubble so super focused on a critical part of our life style and that is housing. Why isn't it focused at other area's of the market place such as health, medical, entertainment? We have growing families in single bedroom apartments unable to afford a house for their growing families, well at the same time retires who live in a empty house or investors who have a empty unit's sitting vacant all year round.

by hackits 10y ago

astrodust 10y ago

I'm living in a bubble too where people's memory of the mid 1990s when things went to shit, and the mid 1980s when things when to shit, and the 1970s when things went to shit are gone. The US had a wake-up call in 2008 that a lot of countries missed. Canada snoozed right through that and went on trucking like we'll never have to deal with a downturn. That's why creaky, practically condemned houses are selling for over $1M: http://www.theglobeandmail.com/real-estate/toronto/a-million-dollars-now-buys-a-tear-down-in-torontos-greektown/article33957589/ http://www.theglobeandmail.com/real-estate/toronto/a-million... It's "detached" so it's obviously worth a million bucks since that's the average price of these things now. What if that house goes for $2M? $5M? $20M? The bubble must give out at some point. Those prices will not keep going up forever.

hackits 10y ago
What do you mean it had a wake-up call in 2008? Looking at the data its surpassed 2008 prior levels! https://mhanson.com/2-1-hanson-house-prices-main-street-bubble-1-0-echo/ https://mhanson.com/2-1-hanson-house-prices-main-street-bubb... It's like the world collectively said `Yeah this is bad, lets do exactly the same thing but BIGGER!`
- astrodust 10y ago
  Tech securities and real-estate prices have been pretty bonkers lately. If those two things implode something else will bubble up instead. It's like there's too much money in the world or something. This is like trying to get rid of a big bubble in a waterbed. Once you think you've jiggled it out of existence it just comes up somewhere else.
  - hackits 10y ago
    btw the prior comment was a bit of sarcasm. I sometimes wonder about the bubble prices and just conclude there is something else going on in the macro level that I'm un-aware off. A lot of the fundermental concepts such as supply and demand for housing has been de-coupled so you have low demand but still prices remain high in some parts of the country. I do think that at a fundermental level it just shows a complete lack of governance of politicians why is it is this bubble so super focused on a critical part of our life style and that is housing. Why isn't it focused at other area's of the market place such as health, medical, entertainment? We have growing families in single bedroom apartments unable to afford a house for their growing families, well at the same time retires who live in a empty house or investors who have a empty unit's sitting vacant all year round.