House price to income ratio is the highest in the world. Nearly triple that of Houston USA.

Somethings got to give when the elastic sided economy snaps from the bulge.

https://www.businessspectator.com.au/article/2014/7/23/australian-news/three-forces-pushing-australia-towards-recession

http://1.static.australianindependentbusinessmedia.com.au/sites/default/files/styles/full_width/public/Callam2.jpg

Chalk and cheese

They are too high, my gut instinct tells me this. I wouldn't be buying at the moment.
I think they will stagnate for a while. I cant see them coming off by more than 10 % though, as there is a lot of pent up demand from renters.
the renters are in a bind. the only thing that will see a dramatic drop in prices is a full blown 10 % unemployment recession. This would , unfortunately hit the renters worse as they will be the ones losing their jobs. this then makes the situation that prices are falling but the battlers cant take advantage.
Who would swoop in?
The rich and the foreign investor would pick through the mess.
So, really, if the battlers are calling for a price crash so they can get into the market at a lower price, i'm not sure that would be the scenario.

Whereas I am buying at the moment in Canberra what with all the job losses here from a government committeed to saving jobs.

aquascoot wrote on Jul 24^th, 2014 at 8:50am:

They are too high, my gut instinct tells me this. I wouldn't be buying at the moment. I think they will stagnate for a while. I cant see them coming off by more than 10 % though, as there is a lot of pent up demand from renters. the renters are in a bind. the only thing that will see a dramatic drop in prices is a full blown 10 % unemployment recession. This would , unfortunately hit the renters worse as they will be the ones losing their jobs. this then makes the situation that prices are falling but the battlers cant take advantage. Who would swoop in? The rich and the foreign investor would pick through the mess. So, really, if the battlers are calling for a price crash so they can get into the market at a lower price, i'm not sure that would be the scenario.

renters might be fueling the bubble but won't stop it from bursting. When the property market crashes so will the economy and no one will be able to afford to buy no matter how cheap because everyone will be kicked out of a job,

As for foreigners and rich coming in to save the day don't count on it. It never happened in the US after the GFC or any other country which experienced a property crash.

Laugh till you cry wrote on Jul 24^th, 2014 at 1:05am:

House price to income ratio is the highest in the world. Nearly triple that of Houston USA. Somethings got to give when the elastic sided economy snaps from the bulge. https://www.businessspectator.com.au/article/2014/7/23/australian-news/three-forces-pushing-australia-towards-recession http://1.static.australianindependentbusinessmedia.com.au/sites/default/files/styles/full_width/public/Callam2.jpg

This is the reason they pulled "flip men" off TV because they didn't want the punters to learn they were being shafted in Australia on real estate deals. But you can still watch it here which will make you think twice about buying real estate in Australia and/or paying through the nose for renovations. The price people are paying for renovations alone here you can buy a complete house in the US. Go figure !!

https://www.youtube.com/watch?v=QXkObip_-rM

With our combined income we are nrealy 1:1

Get out of the city and get some frsh air, retards!!

8-) ;D ;D

Swagman wrote on Jul 24^th, 2014 at 8:39am:

Chalk and cheese

why?

aquascoot wrote on Jul 24^th, 2014 at 8:50am:

They are too high, my gut instinct tells me this. I wouldn't be buying at the moment. I think they will stagnate for a while. I cant see them coming off by more than 10 % though, as there is a lot of pent up demand from renters. the renters are in a bind. the only thing that will see a dramatic drop in prices is a full blown 10 % unemployment recession. This would , unfortunately hit the renters worse as they will be the ones losing their jobs. this then makes the situation that prices are falling but the battlers cant take advantage. Who would swoop in? The rich and the foreign investor would pick through the mess. So, really, if the battlers are calling for a price crash so they can get into the market at a lower price, i'm not sure that would be the scenario.

This is a generalisation with no basis in fact. Do you really think bosses looking to cut staff would go after renters and leave mortgage holders untouched? Do you think that companies with no renters on staff are immune to the possibility of going out of business?

Sir lastnail wrote on Jul 24^th, 2014 at 12:51pm:

This is the reason they pulled "flip men" off TV

you're obssessed with that show ... they did not pull flip men off for that reaosn, flip men has been shown on and off for a couple of seasons now. stop making up facts to suit your dumb arguments

BatteriesNotIncluded wrote on Jul 24^th, 2014 at 3:14pm:

Swagman wrote on Jul 24th, 2014 at 8:39am: Chalk and cheese why?

there are many reasons why

for starters different countries with different rules ...

you want greener homes? you think adding a grey water system, solar, rainwater tanks etc doesn't add to the cost?

Before I can cut a tree down so as to build my house I have to put in a council application to cut the tree ... there's another few hundred dollars just there

materials are much more expensive here than O'seas .. I replace a broken window in Italy in 2000 .... it was about 1500mm x 800 mm total cost for the glass ....$10 you won't even get you the invoice

many many other reasons

Japan had a property bubble. Then the market collapsed to below pre-bubble levels.

http://www.doctorhousingbubble.com/wp-content/uploads/2011/05/comparing-housing-bubbles-debtdeflation.png

John Smith wrote on Jul 25^th, 2014 at 5:55pm:

Sir lastnail wrote on Jul 24th, 2014 at 12:51pm: This is the reason they pulled "flip men" off TV you're obssessed with that show ... they did not pull flip men off for that reaosn, flip men has been shown on and off for a couple of seasons now. stop making up facts to suit your dumb arguments

but the block is going to start up again zzzzzzzzzzz. Another 6 months to renovate an overpriced old dump where the flipmen buy it cheaper, renovate it cheaper and sell it off cheaper all in one episode and you reckon there was no interest in that show :D

dream on smith. You real estate crooks would stop at nothing to get your own way and that means ripping off the punters blind !!

John Smith wrote on Jul 25^th, 2014 at 6:02pm:

BatteriesNotIncluded wrote on Jul 24th, 2014 at 3:14pm: Swagman wrote on Jul 24th, 2014 at 8:39am: Chalk and cheese why? there are many reasons why for starters different countries with different rules ... you want greener homes? you think adding a grey water system, solar, rainwater tanks etc doesn't add to the cost? Before I can cut a tree down so as to build my house I have to put in a council application to cut the tree ... there's another few hundred dollars just there materials are much more expensive here than O'seas .. I replace a broken window in Italy in 2000 .... it was about 1500mm x 800 mm total cost for the glass ....$10 you won't even get you the invoice many many other reasons

and as discussed on ABC radio the other day the biggest scammers in Australia are in the building trade. There are no shortage of horror stories of people being ripped off by so called "qualified" builders and tradesmen :(

Sir lastnail wrote on Jul 26^th, 2014 at 12:38pm:

John Smith wrote on Jul 25th, 2014 at 5:55pm: Sir lastnail wrote on Jul 24th, 2014 at 12:51pm: This is the reason they pulled "flip men" off TV you're obssessed with that show ... they did not pull flip men off for that reaosn, flip men has been shown on and off for a couple of seasons now. stop making up facts to suit your dumb arguments but the block is going to start up again. Another 6 months to renovate an overpriced old dump where the flipmen buy it cheaper, renovate it cheaper and sell it off cheaper all in one episode and you reckon there was no interest in that show :D dream on smith. You real estate crooks would stop at nothing to get your own way and that means ripping off the punters blind !!

yes, the block starts again ... and they'll keep showing these shows while people keep watching ... thats how TV works.  :D :D :D :D

Next you'll be telling me Masterchef was concocted by the food industry ...  ;D ;D

John Smith wrote on Jul 26^th, 2014 at 12:40pm:

Sir lastnail wrote on Jul 26th, 2014 at 12:38pm: John Smith wrote on Jul 25th, 2014 at 5:55pm: Sir lastnail wrote on Jul 24th, 2014 at 12:51pm: This is the reason they pulled "flip men" off TV you're obssessed with that show ... they did not pull flip men off for that reaosn, flip men has been shown on and off for a couple of seasons now. stop making up facts to suit your dumb arguments but the block is going to start up again. Another 6 months to renovate an overpriced old dump where the flipmen buy it cheaper, renovate it cheaper and sell it off cheaper all in one episode and you reckon there was no interest in that show :D dream on smith. You real estate crooks would stop at nothing to get your own way and that means ripping off the punters blind !! yes, the block starts again ... and they'll keep showing these shows while people keep watching ... thats how TV works.  :D :D :D :D Next you'll be telling me Masterchef was concocted by the food industry ...  ;D ;D

but there was no interest in the flipmen :D LOL

get the bugger out of here will you.

Sir lastnail wrote on Jul 26^th, 2014 at 12:40pm:

John Smith wrote on Jul 25th, 2014 at 6:02pm: BatteriesNotIncluded wrote on Jul 24th, 2014 at 3:14pm: Swagman wrote on Jul 24th, 2014 at 8:39am: Chalk and cheese why? there are many reasons why for starters different countries with different rules ... you want greener homes? you think adding a grey water system, solar, rainwater tanks etc doesn't add to the cost? Before I can cut a tree down so as to build my house I have to put in a council application to cut the tree ... there's another few hundred dollars just there materials are much more expensive here than O'seas .. I replace a broken window in Italy in 2000 .... it was about 1500mm x 800 mm total cost for the glass ....$10 you won't even get you the invoice many many other reasons and as discussed on ABC radio the other day the biggest scammers in Australia are in the building trade. There are no shortage of horror stories of people being ripped off by so called "qualified" builders and tradesmen :(

I don't disagree with that .... however it's not all the building trades fault ...

it's all the regulation and buillsh1t that goes with it ... you want me to paint your gutter? Easy, take me about 2.5 hrs to go around once (average size home), prep and one coat .. I should charge you 4 hrs max, plus materials (extra 1.5hrs for overheads etc), another 2 hrs if you want a second coat  .. instead I can't .. govt. regulations say i have to pay someone for the day, just to hold the ladder while I climb up ... either that or you pay for scaffolding ... the cost of painting your gutter has gone from $200 - $300, to anywhere from $600 to $1500 ... 

and it's the same for every trade in the building industry .. i know an electrician who says he spends 4 or 5 hrs every week making sure his staff is OH&S compliant, they in turn waste about an hour a day doing the same  ... who pays for all that?

You know every trade in NSW is meant to walk around every SITE, write down every possible risk and how to avoid it and they are meant to do it EVERY DAY, and I mean every possible risk .. from dust blowing in your eyes, to sunburn, to wind chaff, tree roots, loose rocks the list is endless ... you're outside, everything is a possible risk

the only thing saving consumers is that most tradesmen ignore the rules ...

Sir lastnail wrote on Jul 26^th, 2014 at 12:42pm:

John Smith wrote on Jul 26th, 2014 at 12:40pm: Sir lastnail wrote on Jul 26th, 2014 at 12:38pm: John Smith wrote on Jul 25th, 2014 at 5:55pm: Sir lastnail wrote on Jul 24th, 2014 at 12:51pm: This is the reason they pulled "flip men" off TV you're obssessed with that show ... they did not pull flip men off for that reaosn, flip men has been shown on and off for a couple of seasons now. stop making up facts to suit your dumb arguments but the block is going to start up again. Another 6 months to renovate an overpriced old dump where the flipmen buy it cheaper, renovate it cheaper and sell it off cheaper all in one episode and you reckon there was no interest in that show :D dream on smith. You real estate crooks would stop at nothing to get your own way and that means ripping off the punters blind !! yes, the block starts again ... and they'll keep showing these shows while people keep watching ... thats how TV works.  :D :D :D :D Next you'll be telling me Masterchef was concocted by the food industry ...  ;D ;D but there was no interest in the flipmen :D LOL get the bugger out of here will you.

thats why you watched it, and go on and on and on about it.

King FriYAY II wrote on Jul 24^th, 2014 at 2:01pm:

With our combined income we are nrealy 1:1 Get out of the city and get some frsh air, retards!! 8-) ;D ;D

Is it convenient living under that bridge?

John Smith wrote on Jul 26^th, 2014 at 12:58pm:

Sir lastnail wrote on Jul 26th, 2014 at 12:42pm: John Smith wrote on Jul 26th, 2014 at 12:40pm: Sir lastnail wrote on Jul 26th, 2014 at 12:38pm: John Smith wrote on Jul 25th, 2014 at 5:55pm: Sir lastnail wrote on Jul 24th, 2014 at 12:51pm: This is the reason they pulled "flip men" off TV you're obssessed with that show ... they did not pull flip men off for that reaosn, flip men has been shown on and off for a couple of seasons now. stop making up facts to suit your dumb arguments but the block is going to start up again. Another 6 months to renovate an overpriced old dump where the flipmen buy it cheaper, renovate it cheaper and sell it off cheaper all in one episode and you reckon there was no interest in that show :D dream on smith. You real estate crooks would stop at nothing to get your own way and that means ripping off the punters blind !! yes, the block starts again ... and they'll keep showing these shows while people keep watching ... thats how TV works.  :D :D :D :D Next you'll be telling me Masterchef was concocted by the food industry ...  ;D ;D but there was no interest in the flipmen :D LOL get the bugger out of here will you. thats why you watched it, and go on and on and on about it.

yep I watched it and it just proves that aussies are being taken to the cleaners when it comes to real estate. As well the pollies are working for the banks to keep them afloat by making sure that the bubble doesn't burst.

Sir lastnail wrote on Jul 26^th, 2014 at 5:23pm:

John Smith wrote on Jul 26th, 2014 at 12:58pm: Sir lastnail wrote on Jul 26th, 2014 at 12:42pm: John Smith wrote on Jul 26th, 2014 at 12:40pm: Sir lastnail wrote on Jul 26th, 2014 at 12:38pm: John Smith wrote on Jul 25th, 2014 at 5:55pm: Sir lastnail wrote on Jul 24th, 2014 at 12:51pm: This is the reason they pulled "flip men" off TV you're obssessed with that show ... they did not pull flip men off for that reaosn, flip men has been shown on and off for a couple of seasons now. stop making up facts to suit your dumb arguments but the block is going to start up again. Another 6 months to renovate an overpriced old dump where the flipmen buy it cheaper, renovate it cheaper and sell it off cheaper all in one episode and you reckon there was no interest in that show :D dream on smith. You real estate crooks would stop at nothing to get your own way and that means ripping off the punters blind !! yes, the block starts again ... and they'll keep showing these shows while people keep watching ... thats how TV works.  :D :D :D :D Next you'll be telling me Masterchef was concocted by the food industry ...  ;D ;D but there was no interest in the flipmen :D LOL get the bugger out of here will you. thats why you watched it, and go on and on and on about it. yep I watched it and it just proves that aussies are being taken to the cleaners when it comes to real estate. As well the pollies are working for the banks to keep them afloat by making sure that the bubble doesn't burst.

We're getting ripped off with just about everything we buy, why? One of the reasons is that 'Aussie's' are nationalistic, and aren't prepared to complain about prices. And then there's the Aussie preparedness to pay (and consequently be charged) high prices.

It's time 'Ostralians' (the minority) stood up and sent the 'Aussie' culture packing, back 'ome to where it belongs, muvva England.