I have to confess that I was definitely expecting unrest, if not xenophobic attacks during the WC. Never has there been a more potent way to embarrass the government. But – nothing happened. The proles bought it, hook, line and sinker. Once apon a time you needed bread and circuses to keep the plebs docile. These days you just need circuses it seems.
Here you go Shi - http://tinyurl.com/mm4uet - it is from a few years back on this very site - the real price went up to about 210 and is now back to around the 160 / 170 mark last time I checked. So it is now still more overvalued than the last peak in 1983.
We need to get down to around 75 or 80 before this thing is over.
UK house prices not set to recover for another ten years, says PWC
Property prices will not recover for another decade and should be viewed as "risky assets", according to PricewaterhouseCooper's Economic Outlook report.
Yes - I am because unfortunately we sold our house and have not yet bought so now we are in the rental market. Rents are far higher than they were last year and not that negotiable. 50% higher at least! But there are both furnished and unfurnished and frankly the market is not as flooded or desperate as I would have thought. Purchase prices are not down in the last year by any measure. So while we may all agree there is a bubble and it has to burst - anyone who doesn't own property becomes a chump by paying high rental to someone else's bond.
Property may not be a good investment but it is a good thing to own to live in. simple.
12 comments:
Well, let me start first: Jesus is dead, Julius Caesar is dead and I don't feel great also.
yea, i still blame júlio césar for that goal too... but brazil doesn't deserve to go through anyway.
Does anyone know any good sites which have a graph showing the past 30 years of property prices in South Africa?
I have to confess that I was definitely expecting unrest, if not xenophobic attacks during the WC. Never has there been a more potent way to embarrass the government. But – nothing happened. The proles bought it, hook, line and sinker.
Once apon a time you needed bread and circuses to keep the plebs docile. These days you just need circuses it seems.
In case you you need more persuading, South Africa boasts 4th biggest property bubble in world when measured by rent-price retio.
http://globaleconomicanalysis.blogspot.com/2010/07/global-housing-bubble-based-on-ratio-of.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29
Interesting chart. It would be interesting to see what the SA over/under value figure comes out as.
Here you go Shi - http://tinyurl.com/mm4uet - it is from a few years back on this very site - the real price went up to about 210 and is now back to around the 160 / 170 mark last time I checked. So it is now still more overvalued than the last peak in 1983.
We need to get down to around 75 or 80 before this thing is over.
Here's the first property I've seen in a while in areas I'm interested in for < 1m
http://www.sauerpower.co.za/prop.id?5293
UK house prices not set to recover for another ten years, says PWC
Property prices will not recover for another decade and should be viewed as "risky assets", according to PricewaterhouseCooper's Economic Outlook report.
Link to article above
http://www.telegraph.co.uk/finance/economics/houseprices/7886145/UK-house-prices-not-set-to-recover-for-another-ten-years-says-PWC.html
Anyone else following rental trends in Cape Town? All I see are fully furnished apartments with massive increases over last year's prices.
Yes - I am because unfortunately we sold our house and have not yet bought so now we are in the rental market. Rents are far higher than they were last year and not that negotiable. 50% higher at least! But there are both furnished and unfurnished and frankly the market is not as flooded or desperate as I would have thought.
Purchase prices are not down in the last year by any measure. So while we may all agree there is a bubble and it has to burst - anyone who doesn't own property becomes a chump by paying high rental to someone else's bond.
Property may not be a good investment but it is a good thing to own to live in. simple.
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