OK - it looks like it is official - the Weekend Argus food basket has not appeared again this week. It looks like my highlighting the 23% increase in food inflation in 17 weeks and warning that interest rate increases are likely to follow has upset the property advertisers that call the shots in this property hype publication masquerading as a newspaper.
Has inflation continued going up 3% a week like it was when the graph was pulled. Is food inflation now 30% over 19 weeks ? What is being hidden from us ? Unfortunately it looks like someone doesn't want us to know. And this yellow bellied newspaper is happy to censure the information.
Shame on them. Just to remind you the graph has run for 3 years and as soon as it starts showing flashing red lights, it's gone.
Aha so this is where all my favourite property bears are hanging out now. Been missing some on Propertyweb, which by the way has gone from bad to unreadable:-)
Looking forward to some intelligent commentary, insight & interesting links from CJ & Co
What the heck happens now, one wonders? The Euro is on the ropes, Merkel cannot bail the PIGS out, the UK is staying well clear and now focusing on reducing the budget deficit. So the Euro zone looks pretty bleak - with anarchy threatening in some areas. The ash cloud ain't helping either! In the US we have the Tea Party on the rise, and a growing increase in savings rate, and further housing deflation with larger numbers of people sharing one roof. The dollar is still retaining some credibility, but gold is beckoning as an investment of last resort. Stock market collapses all over the world are rapidly dissipating the much vaunted liquidity that was going to lead to so much inflation. Will we now see more deflation of asset prices and inflation in consumables? Hoping the gold etf keeps going up :)
"How much should we worry about a new leg down in the housing market? If the number of foreclosed homes piling up at banks is any indication, there’s ample reason for concern. As of March, banks had an inventory of about 1.1 million foreclosed homes, up 20% from a year earlier....
Another 4.8 million mortgage holders were at least 60 days behind on their payments or in the foreclosure process, meaning their homes were well on their way to the inventory pile. That “shadow inventory” was up 30% from a year earlier. Based on the rate at which banks have been selling those foreclosed homes over the past few months, all that inventory, real and shadow, would take 103 months to unload. That’s nearly nine years. Of course, banks could pick up the pace of sales, but the added supply of distressed homes would weigh heavily on prices — and thus boost their losses." ("Number of the Week: 103 Months to Clear Housing Inventory" Mark Whitehouse, Wall Street Journal)
The property market in Cape Town is finally back on track. Homes are selling again and people are getting more than their asking prices in many cases. Developments like the Orangerie and filling up quick and many new exciting projects are on the cards for the hotspot CBD area. Now is the best time to invest because prices are going to blow the lights out by the end of the year. The Soccer World cup is going to ignite a never ending upward trend. I would suggest you all get out there and ask, nay beg, your banks to give you any homeloan you can get so you can become part of this upswing. Goodluck everyone, and don't say I didn't warn you!
- Prominent Cape Town real estate agent and trend spotter
The property market in Cape Town is in the final throes of a bull trap. A few grossly overvalued homes are selling to a tiny cash-rich minority and my desperate colleagues in real estate swear that some people are getting more than their asking price, maybe, or so we've heard, or perhaps it came to them in a dream.
Developments like the Orangerie have been snapped up by estate agents who haven't realised that the whole Ponzi scheme is deflating, and who are also horrifically exposed to many other new projects for the CBD that they need to sell or face ruin. Now is the worst time to invest because prices are going to remain absolutely static for years while inflation gouges out 6 to 10 percent per year.
The Soccer World Cup is going to do sweet F-all, as Germans and Brits see Cape Town in the middle of a foul grey wet winter with wind and rain far worse than pretty much anything in Western Europe. I am asking, nay, begging, you to go out and become wage slaves so that you can become part of my desperately needed financial upswing. Please hurry, everyone: I'm not sure how much longer I can keep sending the kids to Redham.
- Anonymous bottom-feeding Cape Town realtor, soon to have his X5 repossessed.
What will happen to house prices if this trade union/big business coalition manage to persuade the govmint to devalue the rand by 20%? The want to open the floodgates to cheap credit too. I think it will be good for the exporters but I'm worried about boosting the buying power of foreigners amoung other things.
"Homes are selling again and people are getting more than their asking prices in many cases."
I wonder how this works. Probably like this: I advertise my property for 1M. The buyer comes and says, "Nah, 1M is a wrong price for this house. It is way too low. Let me pay you 1.2M for it. Please. Pretty, pretty please. I beg you, take 200K extra."
St John's Lodge is one of the oldest in Cape Town and is probably the best-positioned seaside Lodge in Cape Town. It comfortably between the Atlantic Ocean and Lion's Head and has the city and Waterfront on one side and the renowned Camps Bay and Clifton beaches on the
The property market is definately not on the way up as far as I can see. I recently bought a house for R1M. House was initially on the market for R1.6M 18 months ago. Looking at the market now I think I may have paid too much.
I'm taking my kid brother to look at a house of Saturday in an adjacent suburb to me. Smaller house selling for R550 000. These house were selling for R850 000+ prevous year and has been on the market a month already...
13 comments:
OK - it looks like it is official - the Weekend Argus food basket has not appeared again this week. It looks like my highlighting the 23% increase in food inflation in 17 weeks and warning that interest rate increases are likely to follow has upset the property advertisers that call the shots in this property hype publication masquerading as a newspaper.
Has inflation continued going up 3% a week like it was when the graph was pulled. Is food inflation now 30% over 19 weeks ? What is being hidden from us ? Unfortunately it looks like someone doesn't want us to know. And this yellow bellied newspaper is happy to censure the information.
Shame on them. Just to remind you the graph has run for 3 years and as soon as it starts showing flashing red lights, it's gone.
Aha so this is where all my favourite property bears are hanging out now. Been missing some on Propertyweb, which by the way has gone from bad to unreadable:-)
Looking forward to some intelligent commentary, insight & interesting links from CJ & Co
What the heck happens now, one wonders? The Euro is on the ropes, Merkel cannot bail the PIGS out, the UK is staying well clear and now focusing on reducing the budget deficit. So the Euro zone looks pretty bleak - with anarchy threatening in some areas. The ash cloud ain't helping either!
In the US we have the Tea Party on the rise, and a growing increase in savings rate, and further housing deflation with larger numbers of people sharing one roof. The dollar is still retaining some credibility, but gold is beckoning as an investment of last resort. Stock market collapses all over the world are rapidly dissipating the much vaunted liquidity that was going to lead to so much inflation. Will we now see more deflation of asset prices and inflation in consumables? Hoping the gold etf keeps going up :)
Careful when you invest in Gold ETF's :http://www.huffingtonpost.com/nathan-lewis/its-ponzimonium-in-the-go_b_519893.html
US Housing Market Update c/o WSJ:
"How much should we worry about a new leg down in the housing market? If the number of foreclosed homes piling up at banks is any indication, there’s ample reason for concern. As of March, banks had an inventory of about 1.1 million foreclosed homes, up 20% from a year earlier....
Another 4.8 million mortgage holders were at least 60 days behind on their payments or in the foreclosure process, meaning their homes were well on their way to the inventory pile. That “shadow inventory” was up 30% from a year earlier. Based on the rate at which banks have been selling those foreclosed homes over the past few months, all that inventory, real and shadow, would take 103 months to unload. That’s nearly nine years. Of course, banks could pick up the pace of sales, but the added supply of distressed homes would weigh heavily on prices — and thus boost their losses." ("Number of the Week: 103 Months to Clear Housing Inventory" Mark Whitehouse, Wall Street Journal)
*** IT'S OFFICIAL ***
The property market in Cape Town is finally back on track. Homes are selling again and people are getting more than their asking prices in many cases. Developments like the Orangerie and filling up quick and many new exciting projects are on the cards for the hotspot CBD area. Now is the best time to invest because prices are going to blow the lights out by the end of the year. The Soccer World cup is going to ignite a never ending upward trend. I would suggest you all get out there and ask, nay beg, your banks to give you any homeloan you can get so you can become part of this upswing. Goodluck everyone, and don't say I didn't warn you!
- Prominent Cape Town real estate agent and trend spotter
Allow me to translate the previous post:
*** FOR THE LOVE OF GOD PLEASE HELP ME ***
The property market in Cape Town is in the final throes of a bull trap. A few grossly overvalued homes are selling to a tiny cash-rich minority and my desperate colleagues in real estate swear that some people are getting more than their asking price, maybe, or so we've heard, or perhaps it came to them in a dream.
Developments like the Orangerie have been snapped up by estate agents who haven't realised that the whole Ponzi scheme is deflating, and who are also horrifically exposed to many other new projects for the CBD that they need to sell or face ruin. Now is the worst time to invest because prices are going to remain absolutely static for years while inflation gouges out 6 to 10 percent per year.
The Soccer World Cup is going to do sweet F-all, as Germans and Brits see Cape Town in the middle of a foul grey wet winter with wind and rain far worse than pretty much anything in Western Europe. I am asking, nay, begging, you to go out and become wage slaves so that you can become part of my desperately needed financial upswing. Please hurry, everyone: I'm not sure how much longer I can keep sending the kids to Redham.
- Anonymous bottom-feeding Cape Town realtor, soon to have his X5 repossessed.
Good one bean counter.
LOL.
What will happen to house prices if this trade union/big business coalition manage to persuade the govmint to devalue the rand by 20%? The want to open the floodgates to cheap credit too.
I think it will be good for the exporters but I'm worried about boosting the buying power of foreigners amoung other things.
"Homes are selling again and people are getting more than their asking prices in many cases."
I wonder how this works. Probably like this: I advertise my property for 1M. The buyer comes and says, "Nah, 1M is a wrong price for this house. It is way too low. Let me pay you 1.2M for it. Please. Pretty, pretty please. I beg you, take 200K extra."
St John's Lodge is one of the oldest in Cape Town and is probably the best-positioned seaside Lodge in Cape Town. It comfortably between the Atlantic Ocean and Lion's Head and has the city and Waterfront on one side and the renowned Camps Bay and Clifton beaches on the
cape town accommodation
The property market is definately not on the way up as far as I can see. I recently bought a house for R1M. House was initially on the market for R1.6M 18 months ago. Looking at the market now I think I may have paid too much.
I'm taking my kid brother to look at a house of Saturday in an adjacent suburb to me. Smaller house selling for R550 000. These house were selling for R850 000+ prevous year and has been on the market a month already...
Fireman
LOL @ "swear that some people are getting more than their asking price"
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