In the US the Housing Crash has started


https://www.youtube.com/watch?v=UdgmR6qgmow&t=35s

Who cares?   ::) ::)

Housing Bubble Crashes - or Property Bubble Crashes - are the worst.

Japan had a Property Bubble and a Stock Market Bubble that burst in 1989

They have never recovered from it and neither will we.

https://www.youtube.com/watch?v=0fSH6Td8Nnk

Boris wrote on Aug 25^th, 2022 at 4:47pm:

In the US the Housing Crash has started

The US is very different to here.

Our Housing Bubble is worse

Boris wrote on Aug 31^st, 2022 at 4:21pm:

Our Housing Bubble is worse

you're wrong

John Smith wrote on Aug 31^st, 2022 at 8:47am:

Boris wrote on Aug 25th, 2022 at 4:47pm: In the US the Housing Crash has started The US is very different to here.

Yes, if you cannot pay your mortgage there, you leave the keys in the door a walk a free man.

Here, the debt follows you.

random wrote on Aug 31^st, 2022 at 5:09pm:

John Smith wrote on Aug 31st, 2022 at 8:47am: Boris wrote on Aug 25th, 2022 at 4:47pm: In the US the Housing Crash has started The US is very different to here. Yes, if you cannot pay your mortgage there, you leave the keys in the door a walk a free man. Here, the debt follows you.

yes ... and when to many walk away you have a crash like during the GFC in the US where you could buy a house for $500.

thats not going to happen here. no one is going to walk away and people typically won't sell if they're going to make a loss. They'll just hang on and ride it out

John Smith wrote on Aug 31^st, 2022 at 5:27pm:

random wrote on Aug 31st, 2022 at 5:09pm: John Smith wrote on Aug 31st, 2022 at 8:47am: Boris wrote on Aug 25th, 2022 at 4:47pm: In the US the Housing Crash has started The US is very different to here. Yes, if you cannot pay your mortgage there, you leave the keys in the door a walk a free man. Here, the debt follows you. yes ... and when to many walk away you have a crash like during the GFC in the US where you could buy a house for $500. thats not going to happen here. no one is going to walk away and people typically won't sell if they're going to make a loss. They'll just hang on and ride it out

No, they get kicked out, and are sometimes homeless with a debt.

random wrote on Aug 31^st, 2022 at 5:35pm:

John Smith wrote on Aug 31st, 2022 at 5:27pm: random wrote on Aug 31st, 2022 at 5:09pm: John Smith wrote on Aug 31st, 2022 at 8:47am: Boris wrote on Aug 25th, 2022 at 4:47pm: In the US the Housing Crash has started The US is very different to here. Yes, if you cannot pay your mortgage there, you leave the keys in the door a walk a free man. Here, the debt follows you. yes ... and when to many walk away you have a crash like during the GFC in the US where you could buy a house for $500. thats not going to happen here. no one is going to walk away and people typically won't sell if they're going to make a loss. They'll just hang on and ride it out No, they get kicked out, and are sometimes homeless with a debt.

nah, the number who have their homes repossessed is not enough to cause a crash

Not doing too bad in this “crash” so far:

Mum’s house sold for much more than I thought it would and I just sold a block of land in Tassie for a very good price.

Now housing can crash so I get a great house cheap  ;D

John Smith wrote on Aug 31^st, 2022 at 6:19pm:

random wrote on Aug 31st, 2022 at 5:35pm: John Smith wrote on Aug 31st, 2022 at 5:27pm: random wrote on Aug 31st, 2022 at 5:09pm: John Smith wrote on Aug 31st, 2022 at 8:47am: Boris wrote on Aug 25th, 2022 at 4:47pm: In the US the Housing Crash has started The US is very different to here. Yes, if you cannot pay your mortgage there, you leave the keys in the door a walk a free man. Here, the debt follows you. yes ... and when to many walk away you have a crash like during the GFC in the US where you could buy a house for $500. thats not going to happen here. no one is going to walk away and people typically won't sell if they're going to make a loss. They'll just hang on and ride it out No, they get kicked out, and are sometimes homeless with a debt. nah, the number who have their homes repossessed is not enough to cause a crash

Families get evicted if they fail to make repayments on their loan.  Multiples of those do not cause a crash, they are the result of a crash.  Resale values less than the payout figure on the loan and they are with out a home, but still with the debt which means they cannot get another loan.

random wrote on Sep 1^st, 2022 at 2:55pm:

Families get evicted if they fail to make repayments on their loan.  Multiples of those do not cause a crash, they are the result of a crash.

no, property has been booming (the opposite of crash) the last 3 years or so, and every single month I've received a list of properties that were repossessed during that month so if people get evicted it's usually for their own stupid fault. Never over commit.  Buy what you can afford, not what you desire.

John Smith wrote on Sep 1^st, 2022 at 3:57pm:

random wrote on Sep 1st, 2022 at 2:55pm: Families get evicted if they fail to make repayments on their loan.  Multiples of those do not cause a crash, they are the result of a crash. no, property has been booming (the opposite of crash) the last 3 years or so, and every single month I've received a list of properties that were repossessed during that month so if people get evicted it's usually for their own stupid fault. Never over commit.  Buy what you can afford, not what you desire.

It is not about afford or desire, it is about need.  Some people struggle to keep a roof over their families heads. 

Other people get a list of properties that families have been evicted from, in case they want to make money out of the tragedy.

Tear it down!
make it crash!

random wrote on Sep 1^st, 2022 at 4:31pm:

John Smith wrote on Sep 1st, 2022 at 3:57pm: random wrote on Sep 1st, 2022 at 2:55pm: Families get evicted if they fail to make repayments on their loan.  Multiples of those do not cause a crash, they are the result of a crash. no, property has been booming (the opposite of crash) the last 3 years or so, and every single month I've received a list of properties that were repossessed during that month so if people get evicted it's usually for their own stupid fault. Never over commit.  Buy what you can afford, not what you desire. It is not about afford or desire, it is about need.  Some people struggle to keep a roof over their families heads.  Other people get a list of properties that families have been evicted from, in case they want to make money out of the tragedy.

People who are actually struggling to get by do not get a home loan. If they are struggling because of a home loan, it is entirely the result of their own choices. No-one, and no magical force, compelled them to get into that situation.

random wrote on Sep 1^st, 2022 at 4:31pm:

John Smith wrote on Sep 1st, 2022 at 3:57pm: random wrote on Sep 1st, 2022 at 2:55pm: Families get evicted if they fail to make repayments on their loan.  Multiples of those do not cause a crash, they are the result of a crash. no, property has been booming (the opposite of crash) the last 3 years or so, and every single month I've received a list of properties that were repossessed during that month so if people get evicted it's usually for their own stupid fault. Never over commit.  Buy what you can afford, not what you desire. It is not about afford or desire, it is about need.  Some people struggle to keep a roof over their families heads.  Other people get a list of properties that families have been evicted from, in case they want to make money out of the tragedy.

I agree people are struggling to put a roof over their heads. It's not much better with renting these days with them being priced out of range for many as well. Thats if you can find one at all.

Thats not the same as blaming repossessions on a 'crash. A property crash would in fact ultimately help those struggling to put a roof over their heads as it would lower prices and make housing more affordable for everyone, even renters

freediver wrote on Sep 1^st, 2022 at 5:17pm:

random wrote on Sep 1st, 2022 at 4:31pm: John Smith wrote on Sep 1st, 2022 at 3:57pm: random wrote on Sep 1st, 2022 at 2:55pm: Families get evicted if they fail to make repayments on their loan.  Multiples of those do not cause a crash, they are the result of a crash. no, property has been booming (the opposite of crash) the last 3 years or so, and every single month I've received a list of properties that were repossessed during that month so if people get evicted it's usually for their own stupid fault. Never over commit.  Buy what you can afford, not what you desire. It is not about afford or desire, it is about need.  Some people struggle to keep a roof over their families heads.  Other people get a list of properties that families have been evicted from, in case they want to make money out of the tragedy. People who are actually struggling to get by do not get a home loan. If they are struggling because of a home loan, it is entirely the result of their own choices. No-one, and no magical force, compelled them to get into that situation.

Ever heard of interest rates?

People who should never been given a loan, were, by greedy assholes who got commission for the deed.  These people were taken advantage of.  Not everyone is average or above IQ, but even less educated people should not be put in situations that are financially hazardous, for the profit of others when it is as serious as the roof over their heads.

But I can see that you belong to the 'faaark you I got mine' club 

Quote:

People who should never been given a loan, were, by greedy assholes

Are people ever responsible for their own decisions? You don't need to be a genius to figure this stuff out. Do you think they people who borrow more than they can afford are greedy?

freediver wrote on Sep 1^st, 2022 at 6:36pm:

Quote: People who should never been given a loan, were, by greedy assholes Are people ever responsible for their own decisions? You don't need to be a genius to figure this stuff out. Do you think they people who borrow more than they can afford are greedy?

No, but I think you are a bit thick in the comprehension department, or maybe just trolling for clicks.

random wrote on Sep 1^st, 2022 at 6:40pm:

freediver wrote on Sep 1st, 2022 at 6:36pm: Quote: People who should never been given a loan, were, by greedy assholes Are people ever responsible for their own decisions? You don't need to be a genius to figure this stuff out. Do you think they people who borrow more than they can afford are greedy? No, but I think you are a bit thick in the comprehension department, or maybe just trolling for clicks.

So you don't think it is greedy to try to acquire a house that you cannot afford with other people's money?

Nor are you responsible for your own actions when reality catches up with you?

Just think of all the free housing left vacant by people who can't afford to keep their second, third and fourth houses.

Free Housing!!! :D

Bring it down.
Make it crash!  ;D

Jasin wrote on Sep 1^st, 2022 at 9:21pm:

Just think of all the free housing left vacant by people who can't afford to keep their second, third and fourth houses. Free Housing!!! :D Bring it down. Make it crash!  ;D

There are many cashed up investors in the market atm who are eagerly WATCHING and WAITING for that crash ie market correction to happen because it means they'll be able to jump in and grab a few more properties. With unbelievable ease.