Looks like we'll be able to land our foils straight on the grass once the new development is done at Scabs... Cheers MRA!

cbulota said..
or maybe even land kite :)

yeehaa, hit that sick little bowl!

Plenty of trees for Cabrinha kites to land

This can't be right, I can't see where they have put the kelly slater wave pool or the legal weed dispensary

sebol said.. great for the investors



wont have to worry about that to much...being wa and all. the investors all invested in a bus pass out of there

I know because I paid $132000 for my house 200 metres away
Glad I bought it in 2000 but gutted for my kids that will probably never live around here as the new development may make things even worse.

Would have been around 8 percent, just above the long term average, why?

danw said..
Curious... helps me a get a better idea of the context in terms of which the house was valued. Probably not the only important variable.

sorry i don't want to high jack this topic, i think there is already one in the shooting the breeze.

It wasn't the most meaningful topic anyway, all it had was pretty pictures...

Dave Whettingsteel said..

But there is lesson in interest rates and property price correlation. I'm selling all my properties now.

Please elaborate. ^^^

waveslave said..

Dave Whettingsteel said..

But there is lesson in interest rates and property price correlation. I'm selling all my properties now.

Please elaborate. ^^^

Just that interest rates are at an all time low, which makes it cheap to borrow so property prices tend to stay high. (Even in a flat market like WA at the moment).

When interest rates start going up again in a year or 2, its pretty likely that property prices will fall.

Well that's my theory anyway!!

Dave Whettingsteel said..
Just that interest rates are at an all time low, which makes it cheap to borrow so property prices tend to stay high. (Even in a flat market like WA at the moment).

When interest rates start going up again in a year or 2, its pretty likely that property prices will fall.

Well that's my theory anyway!!

Why would rates increase?

- Are wages going up?

- Are price of goods increasing?

- Are asset prices increasing?

- Are businesses thriving?

If so, great! Bring on the rate increases.

Agreed beNe....deflation is among us...for now. Saddled with debt, baby boomers no longer spending (equals not wanting to go into more debt), automation (robotics), countries racing each other to the bottom in currency wars....

dave getting out of debt is a fabulous idea. I'm excited for you to.

but the elite deep state (the modern feudal lords, the rentiers) still have helicopter money up its sleeve. They won't give up that easy on the economic rent of land just yet. Expect propert to increase from 2021 ish to 2025 ish (After a mid cycle slow down, 2019/2020 then the mother faker of all crashes...1929 like, but predictably worse, not the piddley GFC which we were sheltered from by Mr Swan wasting all of the greatest mining boom of history and Some, by handing out money to bogans for flat screen TVs, plus printing more money that doesn't exist (More debt), and throwing it at infrastructure works like the scabs 'great idea'.

But they really running out of bullets if the economy does stagnate more...and if they drop interest rates too low, then capital will leave Australia ..and we suck on the tit of international money. No one has the political balls to make the fiscal changes necessary to avoid this.

Dave Whettingsteel said..
Time will tell if it was a good call, but I'll be happy to have money in bank and super rather than property and debt. I'm excited!

Given your timeline profile.

And the fact you have made your coin from tax benefits that have burden the youth of today.

Probably a good move.

As the UK Daily Telegraph recently stated: ‘China’s debt is approaching $30 trillion. The fresh credit alone created since 2007 is greater than the outstanding liabilities of the US, Japanese, German, and Indian commercial banking systems combined.’

...by the way in 2008 China's debt was only 7 trillion...

Instead of learning from the mistakes of 2008, the central academic whackjobs just ramped up the debt engine even more! Robbing from savers to give to private corporations...tax payers pay for all of this in the end. Hence the paradox between increased wealth in a country and increased poverty at the same time.

Running deficits makes us very vulnerable...all those countries above (except America) do not run deficits, export more than they import. Which makes Australia position between a rock and hard place. We need international money to support our standard of living. Drop rates too far (one of the central banks main levers) and sure it may devalue our dollar for better export return, but money we depend on will find other places to park.

Yep deflation is well and truly set in, but a ticking back to runaway inflation can happen very fast and it's inflation governments want to essentially reduce the value of their every increasing debt. The will pull out whatever stops they can to get inflation...but sometimes they let the genie out the bag too much. You almost need to plan for both. That's how mixed things up are now.

Understand the land issue, private enclosed rent of land, given through government granted licenses and you will start to get the bigger picture....it's very disheartening to say the least. All gains eventually go to land...which modern economists call capital now (that's the biggest con of it all). Clever little sods these rich elite cnts.