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Thread: PSB Economic Confidence Thread

  1. #281
    Member Crim's Avatar
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    Lots of folks calling out the real estate overvalue.

    Really hope the greedy real estate investors in Sydney & Melbourne & the complying Banks get fucked over

    Few people benefit from this type of thing & lots of people suffer the consequences.

    Fuck! I sound like Donald Trump with my short comments. Sad.......

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    Quote Originally Posted by Crim View Post
    Lots of folks calling out the real estate overvalue.
    Same thing has been said by a property tycoon billionaire in china
    "Some people are like clouds. When they disappear it's a beautiful day"

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    I know 5 restuarants that have closed/liquidated this week alone.

    Pretty much anyone in the "premium" sector is experiencing some sort of financial distress right now.

    Those offering great prices and maintaining service levels are hanging in there.

    Plenty of opportunity out there if you have an established reputation and can do it cheaper....

    Yes that means working more for less, like your employees are, ya bunch of fat Bourgeoise!
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  4. #284
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    For the record:

    Bourgeois:

    In Marxist philosophy the bourgeoisie is the social class that came to own the means of production during modern industrialization and whose societal concerns are the value of property and the preservation of capital, to ensure the perpetuation of their economic supremacy in society.[3] Joseph Schumpeter saw the creation of new bourgeoisie as the driving force behind the capitalist engine, particularly entrepreneurs who took risks to bring innovation to industries and the economy through the process of creative destruction.

    https://en.m.wikipedia.org/wiki/Bourgeoisie
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    To play devils avocado, we have actually signed a few jobs of late (resi housing luxury end of town $2m-$10m).

    Also had a couple of people calling offering jobs/chasing me for other people that may be interested.
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    Quote Originally Posted by Gippo View Post
    I know 5 restuarants that have closed/liquidated this week alone.

    Pretty much anyone in the "premium" sector is experiencing some sort of financial distress right now.

    Those offering great prices and maintaining service levels are hanging in there.

    Plenty of opportunity out there if you have an established reputation and can do it cheaper....

    Yes that means working more for less, like your employees are, ya bunch of fat Bourgeoise!
    Have noticed everyone flocking to aldi went into woolies late night shopping only one girl on checkouts and was only three people inside.
    "Some people are like clouds. When they disappear it's a beautiful day"

  7. #287
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    Quote Originally Posted by boeman View Post
    To play devils avocado, we have actually signed a few jobs of late (resi housing luxury end of town $2m-$10m).

    Also had a couple of people calling offering jobs/chasing me for other people that may be interested.
    yup same here. Great time to be building if you have the money. Our average contract value is rising monthly, with a large majority not needing finance.
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    Love the above comments.... I hope youre right guys...

    Linky below about rising WA mortgage stress....

    https://au.finance.yahoo.com/news/wh...004411498.html
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    I'm not really generalising for the WA economy as a whole, I know it is tough out there.

    Just in the residential building industry, this past month there seems to be a bit of a change. Few more sales, few more jobs floating around.

    I guess for those lucky enough to still be employed, construction and housing is probably at its most affordable levels for quite some time.

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    Bayswater?? I would have thought it'd be too established for to have many younger home owners.
    In sterquiliniis invenitur.

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    Quote Originally Posted by boeman View Post
    I'm not really generalising for the WA economy as a whole, I know it is tough out there.

    Just in the residential building industry, this past month there seems to be a bit of a change. Few more sales, few more jobs floating around.

    I guess for those lucky enough to still be employed, construction and housing is probably at its most affordable levels for quite some time.
    It is the economic climate where the rich swallow everyone else's assets. The low to middle range residential market must surely have bottomed out.
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    Quote Originally Posted by Crobbo View Post
    Bayswater?? I would have thought it'd be too established for to have many younger home owners.
    I'd say it's like a lot of those suburbs, there were a lot of older residents that lived there for years from when it was a modest suburb and they've gotten older and moved on or died and younger middle income families have moved in during the housing boom but now their houses are worth less than they paid for them during the boom
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    Quote Originally Posted by Halo_2 View Post
    Really its letting chinese and oversees foreigners buying up property
    The Australian banks are tightening lending to foreign investors to try and slow this.

    But we can get offshore finance for Asian Investors....

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    "Some people are like clouds. When they disappear it's a beautiful day"

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    Anyone seen this? Bold move, but if it ends up being true...


    http://www.zerohedge.com/news/2017-0...medium=twitter

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    FTA to go the same way as blockbuster, people want their shit now just wait when netflix starts advertising through programs.

    http://www.news.com.au/finance/busin...4da583cf7dea8a
    "Some people are like clouds. When they disappear it's a beautiful day"

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    Quote Originally Posted by shifted View Post
    Anyone seen this? Bold move, but if it ends up being true...


    http://www.zerohedge.com/news/2017-0...medium=twitter
    Interesting that this received a bit of coverage and then disappeared as fast as it was announced.

    Compared to today's news;

    https://thewest.com.au/news/wa/exper...-ng-b88501302z

    Mind you the experts are all in the industry with vested interests and predict a turn around next year.
    They hung a sign up in our town "If you live it up, you won't live it down"-Tom Waits

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    PSB Economic Confidence Thread

    The whole 'housing bubble' thing is an on again off again scenario, and follows much of what happened in the US in 06/07/08 (if you've seen the movie The Big Short, you get an idea).

    Not the first time, won't be the last, but when a big manager such as that shouts something like that, wise people tend to listen.

    It's also a case of nothing's wrong until it's all gone wrong, and it happens overnight. Look at all the stories over the past 18months about record levels of debt in Australia, RBA is wary/concerned/keeping an eye on things.


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  19. #299
    PSB Statesman Dubs's Avatar
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    From today's state wage case

    http://www.wairc.wa.gov.au/images/AP...%2014-6-17.pdf


    Data from the Department of Training and Workforce Development shows that since 2010,
    apprenticeship commencements have fallen by almost 38%. There have been very significant
    declines in some industries in the last year, particularly in the Building and Construction
    Trades of 35.8%, Electrical Trades of 25.2% and Metals, Manufacturing and Services Trades
    of 13.5%.
    38. Traineeship commencements have also declined, by more than 20% since 2015 and more than
    40% since their peak in 2012.
    39. The total number of apprentices and trainees currently undertaking training has declined by
    9.4% and 13.4% respectively.

  20. #300
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    Dubs thats because we have no work and a oversupply of tradesmen

    More people axed
    http://www.perthnow.com.au/technolog...308a2c75f07564
    "Some people are like clouds. When they disappear it's a beautiful day"

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