Australian Politics Forum - 'Worst ever' property dive after disasters

Lisa Jones Gold Member Offline Australian Politics Posts: 39047 Sydney Gender:	Re: 'Worst ever' property dive after disasters Reply #15 - Mar 1^st, 2011 at 1:59pm i forgot to mention that most likely you'll be out bid by a china man that dudd has let into the country - Last Nail Umm ok .. >> looks around for the hidden camera in her home office << So Last Nail .. you've been listening in on all my phone conversations this afternoon lol
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Bobby. Gold Member Offline Australian Politics Posts: 117542 Melbourne Gender:	Re: 'Worst ever' property dive after disasters Reply #16 - Mar 1^st, 2011 at 2:02pm Nail. Quote: i forgot to mention that most likely you'll be out bid by a china man that dudd has let into the country It breaks your heart to to think a Chinaman payed $400,000 for the same property 8 years ago that you now pay $1.5 million for.
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Ex Dame Pansi

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Re: 'Worst ever' property dive after disasters
Reply #17 - Mar 1^st, 2011 at 2:02pm

Labor lured then betrayed first home owners

A disturbing new survey by Mortgage Choice has found that 10 per cent of first home buyers, who purchased their homes in the past two years, have either sold their homes or are considering selling because of financial hardship, caused by interest rate hikes.‬

‪The survey also found that another 6 per cent would sell if interest rates climbed a further one per cent, while another 14 per cent would sell if they rose another 1.5 per cent.‬

‪Many of these first home buyers were lured into the market through generous first home buyer grants at a time of historically low interest rates.‬

‪The Rudd-Gillard Government was more than happy to artificially stimulate the lower end of the housing market so as to give the impression that they had done a wonderful job staving off the effects of the GFC.‬

‪Of course they didn’t alert all the first home buyers they suckered about the inevitable interest rate rises that would follow their totally over-the-top $87 billion stimulus spend.‬

read the full article at:

http://www.thepunch.com.au/articles/labor-has-betrayed-first-home-owners/

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andrei said: Great isn't it? Seeing boatloads of what is nothing more than human garbage turn up.....

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Lisa Jones

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Re: 'Worst ever' property dive after disasters
Reply #18 - Mar 1^st, 2011 at 2:35pm

Bobby. wrote on Mar 1^st, 2011 at 2:02pm:

Nail.
Quote:

i forgot to mention that most likely you'll be out bid by a china man that dudd has let into the country

It breaks your heart to to think a Chinaman payed $400,000 for the same property
8 years ago that you now pay $1.5 million for.

It's heart rendering to know that there is no level playing field within the Oz domestic real estate market anymore BECAUSE Asian prospective buyers are allowed to secure funds at a third/half the interest rates we Aussies can. In short they are allowed to borrow more which assists them in buying up more/better Oz real estate.

Bottom line? No matter what anyone says .. the competition out there is still fierce (and that is what drives the price of houses up folks). As a result Aussies need to work harder and smarter in order to work around this problem/issue.

Effectively this means Aussies need to chase many more auctions and be prepared to let awesome opportunities go .. and that can be very frustrating at times.

Fingers crossed for this Saturday .. I hope I'm not bidding against an Asian with heaps of $$$ thanks to their advantage over me and other Aussies in securing $$$ at much cheaper interest rates.

I'll let you know how it goes. As I said above .. it will be interesting to see what happens Last Nail and Bobby.

NB Please do not misconstrue my comments as being anti Asian in any way.

I am merely saying it isn't fair that we Aussies aren't allowed to secure the advantageous interest rates which others can. That is my issue/point.

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« Last Edit: Mar 1^st, 2011 at 2:40pm by Lisa Jones »

If I let myself be bought then I am no longer free.

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)

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Bobby.

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Re: 'Worst ever' property dive after disasters
Reply #19 - Mar 1^st, 2011 at 5:52pm

It is unfair Lisa - especially when we are not allowed to buy houses
in many other countries in the world & can't get their low interest rates.
Many people from overseas buy up our property & don't even live there.
They are called "house banks" - a place to store money as an asset
instead of an actual bank.
This pushes Aussie families out of good property & drives up prices.
It is illegal to do that in many other countries.

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qikvtec

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Re: 'Worst ever' property dive after disasters
Reply #20 - Mar 1^st, 2011 at 7:59pm

Do they have to declare themselves as foreign nationals at the auction? If not I'd have to ask; How do you know they are not Australians of Asian decent? I'm not saying for a moment there aren't foreign investors purchasing Australian property but I doubt it's anywhere near the plague proportions discussed above.

As for the price crash, what a bloody joke, alarmist crap at best; let me know when it's anywhere near the 30-40% predicted and even then I won't care since I'm not interested in selling my home and have relatively low levels of private debt.

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Lisa Jones Gold Member Offline Australian Politics Posts: 39047 Sydney Gender:	Re: 'Worst ever' property dive after disasters Reply #21 - Mar 1^st, 2011 at 10:11pm As for the price crash, what a bloody joke, alarmist crap at best. - Qikvtec I agree. The following words of Mark Twain apply: "A lie can travel half way around the world while the truth is putting on its shoes."
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Lisa Jones

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Re: 'Worst ever' property dive after disasters
Reply #22 - Mar 1^st, 2011 at 10:23pm

And as I stated previously ..

Now is a great time to buy (supposedly).

In fact I'm off to an auction this Saturday! It will be interesting to see how much $1.5 mil gets you in the current market. I'm hoping to buy a certain property for around $1.3 mil (given the current so called price dip). The house in question SHOULD sell for around $1.5 mil under normal conditions. Let's see what happens. My prediction? I'm still going to have to pay around $1.4 - $1.5 mil (because right now there is a lot of media hype designed to lure potential buyers into an auction environment to stimulate on the spot fast paced competition).

So .. I'm going to test the real estate market this Saturday.

I don't believe I'm going to see anything amazing .. I'll report back on what happens.

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If I let myself be bought then I am no longer free.

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)

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Lisa Jones

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Re: 'Worst ever' property dive after disasters
Reply #23 - Mar 1^st, 2011 at 10:39pm

Do they have to declare themselves as foreign nationals at the auction? If not I'd have to ask; How do you know they are not Australians of Asian decent? I'm not saying for a moment there aren't foreign investors purchasing Australian property but I doubt it's anywhere near the plague proportions discussed above.

- qikvtec

I'm not exactly sure to be honest. Perhaps they have dual citizenship? Who knows? The fact remains and all that matters is this: they can access extraordinary cheap interest rates compliments of overseas Chinese govt backed banks .. whereas we cannot.

Ask any real estate agent .. it's a phenomenon which is openly and readily discussed. It's not something which can be ignored anymore. And it isn't.

I'll let you know what happens this Saturday. To be brutally honest .. given the type of house on offer and the actual number of the house itself.. I expect to find myself bidding against cashed up Asians who are going to send the price of the house up to $1.5 mil and beyond.

Worst ever property dive eh? Total rubbish!

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If I let myself be bought then I am no longer free.

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)

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Bobby. Gold Member Offline Australian Politics Posts: 117542 Melbourne Gender:	Re: 'Worst ever' property dive after disasters Reply #24 - Mar 1^st, 2011 at 10:45pm Lisa. Quote: I expect to find myself bidding against cashed up Asians who are going to send the price of the house up to $1.5 mil and beyond. Lisa - please don't get into too much debt. There is always another house.
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qikvtec Gold Member Offline Australian Politics Posts: 1846 Queensland	Re: 'Worst ever' property dive after disasters Reply #25 - Mar 1^st, 2011 at 11:22pm There's a lot of downside risk to the property market given the interest rate environment and consumer confidence. If you have the kahunas and the disposable you could make some serious coin.
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perceptions_now

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Re: 'Worst ever' property dive after disasters
Reply #26 - Mar 1^st, 2011 at 11:51pm

qikvtec wrote on Mar 1^st, 2011 at 11:22pm:

There's a lot of downside risk to the property market given the interest rate environment and consumer confidence. If you have the kahunas and the disposable you could make some serious coin.

Or, like many in the US, the UK & elsewhere in Europe, you may simply lose your kahunas?

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perceptions_now

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Re: 'Worst ever' property dive after disasters
Reply #27 - Mar 2^nd, 2011 at 12:00am

Lisa Jones wrote on Mar 1^st, 2011 at 10:39pm:

Do they have to declare themselves as foreign nationals at the auction? If not I'd have to ask; How do you know they are not Australians of Asian decent? I'm not saying for a moment there aren't foreign investors purchasing Australian property but I doubt it's anywhere near the plague proportions discussed above.

- qikvtec

I'm not exactly sure to be honest. Perhaps they have dual citizenship? Who knows? The fact remains and all that matters is this: they can access extraordinary cheap interest rates compliments of overseas Chinese govt backed banks .. whereas we cannot.

Ask any real estate agent .. it's a phenomenon which is openly and readily discussed. It's not something which can be ignored anymore. And it isn't.

I'll let you know what happens this Saturday. To be brutally honest .. given the type of house on offer and the actual number of the house itself.. I expect to find myself bidding against cashed up Asians who are going to send the price of the house up to $1.5 mil and beyond.

Worst ever property dive eh? Total rubbish!

I wouldn't bank on that?

It's all a matter of Demographics, Energy or lack of it, Debt and a long stream of Politicians & TPTB, who thought tomorrow would never come.

And, of course, it did!

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Sir lastnail

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Re: 'Worst ever' property dive after disasters
Reply #28 - Mar 2^nd, 2011 at 12:10am

Lisa Jones wrote on Mar 1^st, 2011 at 2:35pm:

Bobby. wrote on Mar 1^st, 2011 at 2:02pm:

Nail.
Quote:

i forgot to mention that most likely you'll be out bid by a china man that dudd has let into the country

It breaks your heart to to think a Chinaman payed $400,000 for the same property
8 years ago that you now pay $1.5 million for.

It's heart rendering to know that there is no level playing field within the Oz domestic real estate market anymore BECAUSE Asian prospective buyers are allowed to secure funds at a third/half the interest rates we Aussies can. In short they are allowed to borrow more which assists them in buying up more/better Oz real estate.

Bottom line? No matter what anyone says .. the competition out there is still fierce (and that is what drives the price of houses up folks). As a result Aussies need to work harder and smarter in order to work around this problem/issue.

Effectively this means Aussies need to chase many more auctions and be prepared to let awesome opportunities go .. and that can be very frustrating at times.

Fingers crossed for this Saturday .. I hope I'm not bidding against an Asian with heaps of $$$ thanks to their advantage over me and other Aussies in securing $$$ at much cheaper interest rates.

I'll let you know how it goes. As I said above .. it will be interesting to see what happens Last Nail and Bobby.

NB Please do not misconstrue my comments as being anti Asian in any way.

I am merely saying it isn't fair that we Aussies aren't allowed to secure the advantageous interest rates which others can. That is my issue/point.

They were talking about this on the radio the other day. A woman rings up and says that her and her husband have a good job in the police force and earn about 80K each. The bank is willing to lend them 400K to buy a house so they go off to auction after auction expecting to pay near the reserve price and along comes a china man out of the blue and out bids them by a 100K Sad

It must be a really good feeling that you have lived here all of your life and payed rip off taxes only to be made to feel like a second rate citizen by having to compete against a foreigner who has contributed bugger all taxes here and gets a much cheaper loan from a chinese bank Sad

You can thank kevin dudd for letting them in by the truck load. We really didn't need any more chinese property speculators or shop keepers in this country peddling more made in china junk Sad

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Ex Dame Pansi Gold Member Offline Australian Politics Posts: 24168	Re: 'Worst ever' property dive after disasters Reply #29 - Mar 2^nd, 2011 at 8:19am Just think lisa, given that property prices double every ten years, your $1.5m place will sell for $3m in 2021 lol Are fat Greek women allowed to buy houses here?
Back to top	"When the power of love overcomes the love of power, the world will know peace." Hendrix andrei said: Great isn't it? Seeing boatloads of what is nothing more than human garbage turn up..... IP Logged