Agriculture giving 220 staff the arse

With threats of massive layoffs, who could possibly have predicted that natural attrition levels would fall??

Geniuses.

kakosi said :

Robertson said :

dtc said :

I dont expect the property market to take off and it may shrink a little bit and not do anything for ages. But thoughts of it crashing are optimistic (for yet to invest but want to invest) – even in the 1990s, there was no crash, things just didnt improve for about 5 years.

I don’t know about that – the house I bought for $140k in 1998 had cost its owners $210k in 1994, and sold for close to $400k 5 years later. Easiest money you can make. As long as you don’t buy in Bonython or Crace, or any other worthless woopwoop suburbs.

It’s only easy money if you can sell it and buy a cheaper or same value home with that money.

I was thinking more in terms of the amount of dollars I managed to save out of my fortnightly pay over the same period.

Robertson said :

dtc said :

I dont expect the property market to take off and it may shrink a little bit and not do anything for ages. But thoughts of it crashing are optimistic (for yet to invest but want to invest) – even in the 1990s, there was no crash, things just didnt improve for about 5 years.

I don’t know about that – the house I bought for $140k in 1998 had cost its owners $210k in 1994, and sold for close to $400k 5 years later. Easiest money you can make. As long as you don’t buy in Bonython or Crace, or any other worthless woopwoop suburbs.

It’s only easy money if you can sell it and buy a cheaper or same value home with that money.

dtc said :

I dont expect the property market to take off and it may shrink a little bit and not do anything for ages. But thoughts of it crashing are optimistic (for yet to invest but want to invest) – even in the 1990s, there was no crash, things just didnt improve for about 5 years.

I don’t know about that – the house I bought for $140k in 1998 had cost its owners $210k in 1994, and sold for close to $400k 5 years later. Easiest money you can make. As long as you don’t buy in Bonython or Crace, or any other worthless woopwoop suburbs.

thebrownstreak69 said :

Robertson said :

thebrownstreak69 said :

Robertson said :

gungsuperstar said :

The bloodbath continues…

900 VRs from Tax this afternoon.

Up to 200 – a quarter of the workforce – at Geoscience Australia at risk because of non-ongoing contracts. (Just as well they don’t do any important work like the Tsunami Warning Centre or anything…)

Good. House prices should come right down.

Shame no-one will be able to get finance to buy them.

Good. They’ll come down even more.

It’s ridiculous that the jerry-built rubbish that passes for housing in this country attracts the ludicrously over-inflated prices it does.

In fact, I won’t be looking at buying a house next year – what I *will* be doing is making an extremely low-ball offer to a desperate builder in dire need of financing his matching his/hers pair of beamers/coastal property/collection of assorted power boats/jetskis/etc…, for him to do a number of projects around my house that I have been holding off on for a number of years in the expectation that this day would come.

Buy low, sell high.
I am amazed at the people who have been buying houses at today’s prices – one in my street sold the other day, I assume for some ridiculous $700K+price. Haw haw, fools and their money, eh?

Absolutely. Look at all those working poor who swept in and snapped up all those lovely homes in the US when their bubble burst. There’s practically no homelessness any more.

Oh, hang on…

Sad but true.

Robertson said :

thebrownstreak69 said :

Robertson said :

gungsuperstar said :

Buy low, sell high.
I am amazed at the people who have been buying houses at today’s prices – one in my street sold the other day, I assume for some ridiculous $700K+price. Haw haw, fools and their money, eh?

Did you make the same decision in 2008 when the GFC was going to cause housing prices to crash by 50%? That was a winner…

Tax, for example, has 26000 or so employees of which under 4000 are in Canberra. So a 900 reduction will probably be less than 200 in Canberra (of which a high proportion will be VRs).

I dont expect the property market to take off and it may shrink a little bit and not do anything for ages. But thoughts of it crashing are optimistic (for yet to invest but want to invest) – even in the 1990s, there was no crash, things just didnt improve for about 5 years.