I believe you are wrong about silver. the year is still young, and 30-35 is as good as it'll get this year. regarding property, i dont doubt that if you have heaps of time on your hands you could indeed pick out a few better than average deals, although i wouldnt call them bargains. However, best to wait a couple of years until bargains become a dime a dozen! Ozzies have become so brainwashed to overpay for property that they dont know the meaning of fair priced property. However, they are about to be taught a lesson during the coming years of what fair priced property is ...
The US $ tanking is the one that worries me. IF it tanks it will take pretty much all economies with it. If this occurs then the Chinese demand for our raw commodities will plummet causing massive pressure on commodities including silver. If there is an increase of supply (more mines coming online over the next year or so) and a large decrease in demand (Silver is mostly an industrial commodity) - price will suffer. Yes - the Aus $ will absorb SOME of the shock but as we are considered to be a commodity dollar - I cant see us doing that well either. From my research - the US $ tanking will be bad news for silver although I think the gold bugs will be a bit more insulated. malachii PS - This is my thoughts only - others will disagree
http://www.smh.com.au/business/markets/gold-silver-lifted-by-greece-debt-worries-20110510-1eg4c.html Up she goessssss?
Yippi- Ye-Ka You property haters have been threatening house prices will drop substantially for years! We have been making over 25% p,.a return on propertys just in capital increasing in the past 6 years! Facts speak louder than threats that are supposed to be around the corner
(Nooo!!! Don't wind him up!! ) Hi Keggahz, the facts are that property prices are declining in all capital cities month on month at an increasing rate per month right now. The threat is no longer around the corner - it is now knocking at the door. Some folk here have been predicting this price decline for several years now because they understand how the Aussie property bubble first formed - and how it will very soon go bang. This is not an ego issue. You are working with very high capital levels with property investment, and will need a very cool head to navigate the waters ahead. If you are holding Australian investment property right now you need to take a very open-eyed look at your current debt levels, and your ability to service your loans when interest rates rise to around 20% per annum or more. If you are not secure in your ability to repay, or if you are over-extended and cannot afford these higher rates then NOW is the time to seriously consider selling up and getting out of the market. If you have some profits - great. If you are selling at a loss, that's a pity, but a small loss is FAR better than a big one. A big ego can become VERY expensive here! If you own rental property with no debt then you will suffer a capital loss going forward, and possibly a declining rent base as house prices fall, but you will still be safer than your geared counterparts. If you have investment properties and your main dwelling is not paid off then get your home paid off as fast as possible by any means possible. GET OUT OF DEBT NOW. The gravy days for Aussie property are over and they won't be coming back for a very very long time. Hunker down hard - or get out pronto! Those 25% profits are a vapourware until you're back in cash. The coming crash will devastate house prices globally - as well as the Australian banking sector - which is particularly vulnerable to a property downturn. Best Wishes Turk
Australians are only just starting to realise that a larger percentage of their weekly earnings are going towards food, energy and healthcare. Housing will have to give, unless there is a serious move in wages.
It would be foolish to get excited over a quick run back up to the $50 range because then you'll just see another huge downside move. That would be great for paper traders, but if you're an investor buying physical bullion, you should be hoping for a long slow climb. However silver is volatile as all hell, so I personally hope for a happy medium somewhere between.
Not sure what planet you're residing on, but if you knew what's happening in the real world you'd have known by now that Ozz property has already begun its long decent... So its not around the corner, it's already here. SAVVY???!
Besides... unless you were clever enough to listen to Steve Keen and you actually SOLD your overpriced properties to realise the gains, those so-called gains of 25% are only paper profits, and you're on the verge of losing it all. SAVVY??
Mate - i know you mean well, but the truth is its already too late to get out. Unless of course you're prepared to take a realism pill. The exits are already jampacked full of property owners trying to get out before the rest of the clueless mob catch on to whats happening. Tbis can be seen by the bloated levels of property for sale - as in double the numbers last year this time. The Ozzie property market is filled to the brim with unrealistic MFs ... MFs who thought their asses would age like wine! If they meant good red wine they wuzz wrong ... ** sorry, couldnt help myself ... just love that scene from Pulp Fiction **
I wonder how many American property bulls didn't see it coming either? I hope that it doesn't happen here... In America you can walk away from your property and the attached debt, but in Australia the debt is attached to you unless I am mistaken. Caution would be prudent at this point in Australia's financial history for those who are heavily leveraged in the world's second most unaffordable housing market.
Second most unafforable housing market?? According to Demographia, we are the world MOST unaffordable property market! http://www.demographia.com/dhi.pdf
LOL'd....my firefox told me the following... Anyway the most unaffordable market is HONG KONG with 11x the annual salary whereas Sydney is like 8x last time I checked.
Yeh i saw now that Australia - the reigning champion of unaffordable housing - has finally been knocked off first spot by Hong Kong. Not like Hong Kong is a real country ... lol In reality it still means that Australia is the champion of unaffordable property
Silver may not rise if can not keep up its price before the weekend or a few more days. It may just head down for a while before moving back up Manipulations may be afoot. of one mine
Hi Yippe-Ki-Ya, Yes, You're right, for some it's now too late to exit with a profit; the markets are very choked up and the prices are dropping by about $400 per day right now - for a median priced house. Nevertheless, many people who SHOULD sell today will wait until it's too late and will thus only increase their overall losses. If they sold and put the residual capital into silver they will regain most of these losses by December. Sadly there is no magical COMEX wand to wind back up the prices in Aussie Property.
