cobran20

NEWS: Property through the decades

10 posts in this topic

The best piece of the article for me:

I've highlighted it.

Worst 20 years

The worst 20 year period was from 1885 to 1905 when property prices dropped a total of 20.9 per cent. In this 20 year period, there were more years of nil or negative growth than price increases. Median property prices dropped from $910 to $720. That’s right. we haven’t left off any zeros. It’s interesting that just over 100 years ago you could buy property with hundreds of dollars whereas now we need hundreds of thousands of dollars.

Read more: http://www.news.com.au/realestate/news/property-through-the-decades/story-fncq3gat-1226651279582#ixzz2UTQRyqeG

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The best piece of the article for me:

I've highlighted it.

You can thank the central banks for the extra zeroes!

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You can thank the central banks for the extra zeroes!

Maybe..

I blame human greed, and the philosophy of ever expanding profits.

My limited knowledge of physics suggests that energy cannot keep expanding forever.

Eventually, and at some point, this all has to begin contracting.

When that happens us human beings will be sorely placed to be right in the front-line.

(Sarcasm!)

In the meantime, I will keep growing my wealth believing that it only ever gets more and more and more and more....

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The best piece of the article for me:

I've highlighted it.

In other developments News Ltd has discovered a thing called inflation.

In 1885 you could by a loaf of bread for 3 cents. That's right. We haven't left off any zeros. It's interesting that just over 100 years ago you could buy a loaf of bread with cents whereas now we need hundreds of cents.

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The colony of Australia used British pounds and not dollars.

Minor point but it's annoying that a journalist/churnalist can't even get a basic fact like that right.

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In other developments News Ltd has discovered a thing called inflation.

In 1885 you could by a loaf of bread for 3 cents. That's right. We haven't left off any zeros. It's interesting that just over 100 years ago you could buy a loaf of bread with cents whereas now we need hundreds of cents.

On a more recent scale, in the late 1970's you could buy a litre of petrol for about 25-27c.

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On a more recent scale, in the late 1970's you could buy a litre of petrol for about 25-27c.

Quick half arsed idea: Supply and Demand? Cars in the 70's drank petrol the way I drink scotch.

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Quick half arsed idea: Supply and Demand? Cars in the 70's drank petrol the way I drink scotch.

Somehow, I don't think that the fuel consumption of cars has been by reduced by about 500% on average over that period of time! thumbdown.gif

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Somehow, I don't think that the fuel consumption of cars has been by reduced by about 500% on average over that period of time! thumbdown.gif

I guess I was thinking that back then they thought they had an infinite supply of oil and I guess the main cost of getting oil is oil (so getting more is kind of free) and the demand was way high so they could afford to sell it for cheap.

Whereas now they think they have a very limited supply and we don't use as much.

But that is quite a bit of thinking for me today.

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