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1% - lololl haahahaaaaaa. says it all.

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09/05/15

08:34

Post #: 15246779
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Originally posted by waldo1 ↑

Wow we have a mathematician and a statistician and the invariably a politician as it is abundantly clear you have NFI.

Let me explain.

The size of the market does not matter in pricing an asset.

What matters is not really, even, in the short term, supply and demand , what matters is what the last person is prepared to pay for the asset.

It is on this basis the price of real estate is effectively set (ie the guy next door to me got 1M for his house so mine must be worth the same)

Now if you get chinese bidding up all real estate as is happening in residential and commercial (just read The AFR on Thursday or indeed any other day) the fact that they only have bought circa 1% of the asset class does not mean they havent affected prices as they are acting to outbid locals and thereby lift prices.

If you dont believe me ask Lang Walker.

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1% - lololl haahahaaaaaa. says it all.
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