Australian Politics Forum

Australian Politics Forum
http://www.ozpolitic.com/forum/YaBB.pl General Discussion >> General Board >> AUSTRALIA Armageddon: House price could fall 50% http://www.ozpolitic.com/forum/YaBB.pl?num=1558666443 Message started by Laugh till you cry on May 24^th, 2019 at 12:54pm

Title: AUSTRALIA Armageddon: House price could fall 50%
Post by Laugh till you cry on May 24^th, 2019 at 12:54pm

Be very afraid.

Incoming! The feces is airborne and the fan is switched on.

Australian property investment has been based on continuous wage inflation which is no longer happening.

A modest rise in interest rates will see massive bailouts from ordinary Australians who can't afford their home.

Housing Armageddon is coming to a home near you.

https://www.propertynoise.co.nz/australia-property-armageddon-house-prices-could-fall-by-50-per-cent/

Quote:

AUSTRALIA: Property ‘armageddon’: House prices could fall by 50 per cent
ON: APRIL 16, 2019

Prices in some areas of Sydney and Melbourne are set to tumble even further by 2022, with experts predicting the worst is yet to come.

With Sydney and Melbourne’s falling house prices infecting other capitals such as Brisbane, Darwin and Perth, some doomsayers say property prices could slump by as much as 50 per cent by 2022.

Digital Finance Analytics chief Martin North says Sydney and Melbourne houses will suffer price falls of 20 to 30 per cent, while high-rise units could slide by up to 50 per cent from their peak prices in 2017.

Moody’s Analytics released forecasts last week showing property price corrections in Melbourne and Sydney could be deeper than earlier predictions.

Moody’s says house prices in 2019 will fall in the following five cities: Melbourne (down 11.4 per cent), Sydney (down 9.3 per cent), Perth (down 7.7 per cent), Darwin (down 2.7 per cent) and Brisbane (down 0.6 per cent). It’s a happier story in Hobart (up 4 per cent), Canberra (up 3.2 per cent) and Adelaide (up 1 per cent)

Title: Re: AUSTRALIA Armageddon: House price could fall 50%
Post by aquascoot on May 24^th, 2019 at 1:02pm

i would actually love that, as should all people on the narrow road to succes.

if property fell by 50%. then my 2 million dollar property that i wanted to upgrade to a 4 million dollar property, just became a 1 million upgraded to a 2 million.

so rather then forking out 2 million to get it, i only have to fork out 1 million.

as long as you are upgrading, a falling market is a cause for joy and celebration

Title: Re: AUSTRALIA Armageddon: House price could fall 50%
Post by UnSubRocky on May 24^th, 2019 at 1:11pm

Yay!

Title: Re: AUSTRALIA Armageddon: House price could fall 50%
Post by greggerypeccary on May 24^th, 2019 at 1:12pm

Laugh till you cry wrote on May 24^th, 2019 at 12:54pm:

Incoming! The feces is airborne and the fan is switched on.

Title: Re: AUSTRALIA Armageddon: House price could rise 50%
Post by DonDeeHippy on May 24^th, 2019 at 1:15pm

Australia House prices could raise 50%

:D

Title: Re: AUSTRALIA Armageddon: House price could fall 50%
Post by Valkie on May 24^th, 2019 at 5:10pm

Imagine locking into a contract to pay off a million dollar mortgage, for a 1/2 million dollar investment.......plus interest.

My home cost me $65,000.00 30 years ago.
It was last valued at nearly $700,000.00

If it halved in value, I'm still in front.

Housing may lose some value, but eventually, in the long term, they bounce back.

People will always need houses.

Title: Re: AUSTRALIA Armageddon: House price could fall 50%
Post by Bobby. on May 24^th, 2019 at 5:49pm

Valkie wrote on May 24^th, 2019 at 5:10pm:

It depends on the condition of the house:
Australia’s cheapest house revealed: Country property sitting on 500-square-metre block
is going for less than the price of an old used car -
but it’ll need some work.

https://www.dailymail.co.uk/news/article-7047787/Australias-cheapest-house-sitting-500-square-metres-going-price-old-car.html

And here's another bargain:

Title: Re: AUSTRALIA Armageddon: House price could fall 50%
Post by John Smith on May 24^th, 2019 at 5:52pm

i guess now that shortens changes to NG aren't going to happen the property bubble prophets have had to look for a new cause of the 'bubble burst' :D :D :D

Title: Re: AUSTRALIA Armageddon: House price could fall 50%
Post by John Smith on May 24^th, 2019 at 5:54pm

Bobby. wrote on May 24^th, 2019 at 5:49pm:

do you need the bubble to burst before you can afford that $7000 house bobby?

Title: Re: AUSTRALIA Armageddon: House price could fall 50%
Post by Bobby. on May 24^th, 2019 at 5:57pm

John Smith wrote on May 24^th, 2019 at 5:54pm:

Bobby. wrote on May 24^th, 2019 at 5:49pm:

do you need the bubble to burst before you can afford that $7000 house bobby?

No but I can afford a cardboard box outside of Safeway.

Title: Re: AUSTRALIA Armageddon: House price could fall 50%
Post by John Smith on May 24^th, 2019 at 5:59pm

Bobby. wrote on May 24^th, 2019 at 5:57pm:

John Smith wrote on May 24^th, 2019 at 5:54pm:

Bobby. wrote on May 24^th, 2019 at 5:49pm:

do you need the bubble to burst before you can afford that $7000 house bobby?

No but I can afford a cardboard box outside of Safeway.

you can afford the box ... sure, you get them for free from your local greengrocer ... but can you afford safeways rent?

Title: Re: AUSTRALIA Armageddon: House price could fall 50%
Post by Frank on May 24^th, 2019 at 6:01pm

Laugh till you cry wrote on May 24^th, 2019 at 12:54pm:

That prediction was made when Bull Shitten was touted as the next PM. But the bullet has been avoided so the market is up, confidence is up Only your hopes and Turd's are deflated, shattered and forlorn, throbbing negroid loon.

Title: Re: AUSTRALIA Armageddon: House price could fall 50%
Post by Bobby. on May 24^th, 2019 at 6:08pm

John Smith wrote on May 24^th, 2019 at 5:59pm:

Bobby. wrote on May 24^th, 2019 at 5:57pm:

John Smith wrote on May 24^th, 2019 at 5:54pm:

Bobby. wrote on May 24^th, 2019 at 5:49pm:

do you need the bubble to burst before you can afford that $7000 house bobby?

No but I can afford a cardboard box outside of Safeway.

you can afford the box ... sure, you get them for free from your local greengrocer ... but can you afford safeways rent?

No rent John,
I sleep in a cardboard box -
I dumpster dive at night to get the food they throw out -
and there's a gym across the road where I can take a daily shower.

Title: Re: AUSTRALIA Armageddon: House price could fall 50%
Post by John Smith on May 24^th, 2019 at 6:20pm

Bobby. wrote on May 24^th, 2019 at 6:08pm:

No rent John,
I sleep in a cardboard box -
I dumpster dive at night to get the food they throw out -
and there's a gym across the road where I can take a daily shower.

stop stealing the stray dogs food you thief

Title: Re: AUSTRALIA Armageddon: House price could fall 50%
Post by Laugh till you cry on May 24^th, 2019 at 6:59pm

Andrei Hicks sends his greeting from his split level dumpster in London.

Andrei would be thankful if denizen Gordon recommended how much Andrei should charge lodgers.

Title: Re: AUSTRALIA Armageddon: House price could fall 50%
Post by Ye Grappler on May 24^th, 2019 at 7:13pm

House prices NEED to fall 50% -yes - some will be hurt - many have already been hurt, so it's only just that those who've had the sweet ride to date take their turn in the barrel.

One direct effect of such a collapse may be a sudden cessation of the artificial propping up of the 'economy' by pouring hundreds of thousands of people into the country, at a time when it cannot cater to them, or incorporate them productively.

Title: Re: AUSTRALIA Armageddon: House price could fall 50%
Post by Ye Grappler on May 24^th, 2019 at 7:18pm

Cooo-rrect! Wage inflation has been replaced by dropping interest rates, which has only exacerbated the problem, not fixed it.

Shorten proposed a solution by cutting out a few concessions for house ownership (as opposed to home ownership), and was shot down in flames...

When Der Downfall comes - it will be monumental... and made all the worse by reducing those interest rates and artificially propping up a failing system... it would have been far better to allow market forces (jeez- market capitalism? That Never-Ending Darwinian Fist-Fight?) to clean up those with a low survival rate and allow the market to settle.

Of course, my son, a building tradie, would not be romping home with the dollars if that happened... but them's the breaks when you build and support indefinitely an 'economy' based on endless construction and endless people smuggling......

Title: Re: AUSTRALIA Armageddon: House price could fall 50%
Post by Bobby. on May 24^th, 2019 at 7:29pm

Laugh till you cry wrote on May 24^th, 2019 at 6:59pm:

Andrei Hicks sends his greeting from his split level dumpster in London.

Andrei would be thankful if denizen Gordon recommended how much Andrei should charge lodgers.

Hey - that's me -
you're not allowed to post pictures of members.

Title: Re: AUSTRALIA Armageddon: House price could fall 50%
Post by Laugh till you cry on May 25^th, 2019 at 11:58am

Does Bobbi do bed and breakfast?

Title: Re: AUSTRALIA Armageddon: House price could fall 50%
Post by Karnal on May 25^th, 2019 at 12:49pm

Laugh till you cry wrote on May 24^th, 2019 at 12:54pm:

It's about time.

Title: Re: AUSTRALIA Armageddon: House price could fall 50%
Post by Karnal on May 25^th, 2019 at 12:50pm

greggerypeccary wrote on May 24^th, 2019 at 1:12pm:

Laugh till you cry wrote on May 24^th, 2019 at 12:54pm:

Incoming! The feces is airborne and the fan is switched on.

Miam miam.

Title: Re: AUSTRALIA Armageddon: House price could fall 50%
Post by Ye Grappler on May 25^th, 2019 at 8:46pm

Bobby. wrote on May 24^th, 2019 at 5:57pm:

John Smith wrote on May 24^th, 2019 at 5:54pm:

Bobby. wrote on May 24^th, 2019 at 5:49pm:

do you need the bubble to burst before you can afford that $7000 house bobby?

No but I can afford a cardboard box outside of Safeway.

A homeless Veteran once set up in a dumpster outside the DVA building - they came down, invited him in, and he was housed and on the way to pension almost instantly.

Public scrutiny of their slowness and attitude works wonders...