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Freelance Mycophagist

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About Freelance Mycophagist

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  1. http://www.realestateweb.co.za/realestatew...8&sn=Detail Internal property company memo shocker Lew Geffen 04 June 2008 Sotheby's boss tells family member to chop 25% off property price; warns that banks now require huge deposit in anticipation of price tumble. Letter from Lew Geffen, head of Lew Geffen Sotheby's International Realty, to his agents - and released to the media this week. Recessionary Strategies - State of the market As you know the recession is biting even deeper and strategies of 3 months ago are no longer relevant. The mere fact that the banks are requiring 2
  2. Most Aussies are true to their roots - they work behind bars... ...I'll get my coat.
  3. http://www.realestateweb.co.za/realestatew...0&sn=Detail Joburg property: cheaper now than last year Jackie Cameron 22 February 2008 Top estate agency group reveals property prices are dropping – and could have much more to go. Cause for alarm? A big bank which tracks residential property prices and a top estate agency group have revealed that home values in some Johannesburg suburbs are on the decline. They say they can see, from recent deals, it is cheaper in some areas to buy now than it was this time last year. Although it is very difficult to accurately track residential prices
  4. http://www.realestateweb.co.za/realestatew...8&sn=Detail The R50 000-a-month property shocker Realestateweb reporter 07 February 2008 That’s what you need to earn, as a minimum, to qualify for a very ordinary home – interview. If you are wondering why you can't afford an ordinary home, look no further than your salary slip. The introduction of the National Credit Act (NCA) has meant that you need to earn at least R50 000/month and be frugal with your cash if you have any hope of qualifying for a bank loan for the average house - and that now costs R962 000, according to Absa. Before
  5. Yip, exactly. I was discussing the real fall of 7.9% pa with a bull I know - it was a completely new concept for him!
  6. http://www.realestateweb.co.za/realestatew...3&sn=Detail Residential property stops in its tracks Gordon Bell 01 February 2008 Lack of affordability puts the brakes on house price growth - latest figures. JOHANNESBURG (Reuters) - South African residential house prices were unchanged for the second month in a row in January as higher interest rates dent affordability, a survey showed on Friday. The monthly Standard Bank property gauge put annualised house price growth last month at 0.0 percent, reflecting a general slowdown in the demand side of the economy. "The weakness preval
  7. http://www.fin24.co.za/articles/default/di...1518-25_2260653 Forced home sales surge 75% Jan 29 2008 11:33 AM Joan Muller Johannesburg - The number of over-stretched SA property owners losing their homes under the hammer rises to record levels. Alliance Group CEO Rael Levitt says so far this month, forced property sales are up 75% compared with January 2007. The group, one of SA's largest auctioneers, has handled more than 1 200 distressed sales/month since October last year. These include sales in execution (bank foreclosures), homes where mortgage repayments have been in arrears for
  8. http://www.realestateweb.co.za/realestatew...8&sn=Detail “Better to rent than buy” Jackie Cameron 25 January 2008 Think you should sell up? The pros and cons – two respected economists weigh in on either side of the debate. With property prices relatively high and interest rates not showing signs of coming down any time soon, many people are wondering whether it is time to sell up and rent. You can get more for your money, in terms of house size and location, if you are a tenant rather than an owner. And, property price growth is slowing, so your home isn’t likely to produce quick
  9. Not to mention a president-in-waiting and a police commisioner facing racketeering and corruption charges! On the whole though, we always seem to weather whatever crises are thrown our way, so I'm not pessimistic about our future. SA also seems to get a bad rap in the press - much of what is reported is overblown (that's not to say we don't have serious issues).
  10. I don't think it's a question of SA's economy following the UK's. We have simply experienced a speculative boom fuelled by cheap credit, just like the rest of the world.
  11. Indeed - car and house sales have plummeted, prices will surely follow. Estate agent clients of mine say the market is dire, with y-o-y growth reported at 0% in December.
  12. From: http://capetownbubble.blogspot.com/ (go to site for graphs) 22 January 2008 Standard Bank: Year-on-Year House Price Growth for Dec 2007 Was 0% From Standard Banks Residential property gauge(PDF): House price growth as measured by Standard Bank’ median house price1 index was recorded at 0.0% y/y in December 2007. In level terms the median house price was recorded at R550,000. The December outcome brought the five-month moving average growth rate to 5.6% y/y. Here are some graphs from the report (All copyrights remain with Standard Bank). First up house price growth: If you boug
  13. http://www.property24.com/Property24/News/...ec=Agricultural Is a homeloan 'debt'? 2007/02/21 Today's budget will affect us for the next year. Is your homeloan really a 'debt', or not? Property has a proven track record for being a solid investment, and potential investors should not fear raising debt to acquire properties, says Trafalgar chairman Neville Schaefer. His comments come as South Africans adjust to a rising interest rate cycle following a four-year period when bond rates dipped to their lowest point in a quarter century. "The upswing opens opportunities for investors to acquir
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