Australian Politics Forum - Booming House Prices May Spark A Mortgage Crisis.

longweekend58

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Re: Booming House Prices May Spark A Mortgage Crisis.
Reply #30 - Mar 11^th, 2011 at 1:39pm

Sir lastnail wrote on Mar 11^th, 2011 at 11:50am:

Ex Dame Pansi wrote on Mar 11^th, 2011 at 11:46am:

Verge wrote on Mar 11^th, 2011 at 9:26am:

In nails thread it says we are busting, so are we booming Imcrook, or busting nail?

We are BOOMING, we will never BUST, it just doesn't happen in Australia.

If we don't learn from history, we are doomed to repeat it. Busts and booms go together like a horse and carriage............I could start singing....

Has there ever been a housing BUST in Australia....................never!

Yes property booms never bust in Australia because house prices either go up or just plateau Wink

LOL

for the answer to that you could simply look at the history of prices in australia where there has never been a bust - just a series of regular corrections just like every other tradable commodity.

Dont you get sick of saying the same thing year after year and not only being wrong but wrong by a huge margin???

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AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."

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Sir lastnail

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Re: Booming House Prices May Spark A Mortgage Crisis.
Reply #31 - Mar 11^th, 2011 at 1:56pm

longweekend58 wrote on Mar 11^th, 2011 at 1:39pm:

Sir lastnail wrote on Mar 11^th, 2011 at 11:50am:

Ex Dame Pansi wrote on Mar 11^th, 2011 at 11:46am:

Verge wrote on Mar 11^th, 2011 at 9:26am:

In nails thread it says we are busting, so are we booming Imcrook, or busting nail?

We are BOOMING, we will never BUST, it just doesn't happen in Australia.

If we don't learn from history, we are doomed to repeat it. Busts and booms go together like a horse and carriage............I could start singing....

Has there ever been a housing BUST in Australia....................never!

Yes property booms never bust in Australia because house prices either go up or just plateau Wink

LOL

for the answer to that you could simply look at the history of prices in australia where there has never been a bust - just a series of regular corrections just like every other tradable commodity.

Dont you get sick of saying the same thing year after year and not only being wrong but wrong by a huge margin???

well lets see how it goes now without the Government topping it up with tax payers money Wink

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"If you take out Saddam, I guarantee you that it will have enormous positive reverberations on the region..." - Benjamin Netanyahu in 1995

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longweekend58

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Re: Booming House Prices May Spark A Mortgage Crisis.
Reply #32 - Mar 11^th, 2011 at 5:36pm

Sir lastnail wrote on Mar 11^th, 2011 at 1:56pm:

longweekend58 wrote on Mar 11^th, 2011 at 1:39pm:

Sir lastnail wrote on Mar 11^th, 2011 at 11:50am:

Ex Dame Pansi wrote on Mar 11^th, 2011 at 11:46am:

Verge wrote on Mar 11^th, 2011 at 9:26am:

In nails thread it says we are busting, so are we booming Imcrook, or busting nail?

We are BOOMING, we will never BUST, it just doesn't happen in Australia.

If we don't learn from history, we are doomed to repeat it. Busts and booms go together like a horse and carriage............I could start singing....

Has there ever been a housing BUST in Australia....................never!

Yes property booms never bust in Australia because house prices either go up or just plateau Wink

LOL

for the answer to that you could simply look at the history of prices in australia where there has never been a bust - just a series of regular corrections just like every other tradable commodity.

Dont you get sick of saying the same thing year after year and not only being wrong but wrong by a huge margin???

well lets see how it goes now without the Government topping it up with tax payers money Wink

the FHOG never propped up existing properties which is the bulk of the market. the effect of the FHOG has been grossly overstated.

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AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."

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BatteriesNotIncluded

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Re: Booming House Prices May Spark A Mortgage Crisis.
Reply #33 - Mar 11^th, 2011 at 5:56pm

hawil wrote on Mar 10^th, 2011 at 5:05pm:

That is Capitalism for you, when people may have to sell under stress, then the vultures will buy very cheap.
Yet there are still people under the misapprehension that house prices always go up; yet on the Gold Coast there is a five year supply of units and the number on the market is almost four times the normal.

The longer term trends would always go up!

It simply depends on how long your moving point averages are, I would have thought!

Roll Eyes

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*Sure....they're anti competitive as any subsidised job is. It wouldn't be there without the tax payer. Very damned difficult for a brainwashed collectivist to understand that I know.... (swaggy) *

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BatteriesNotIncluded

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Re: Booming House Prices May Spark A Mortgage Crisis.
Reply #34 - Mar 11^th, 2011 at 6:05pm

Ex Dame Pansi wrote on Mar 11^th, 2011 at 11:46am:

Verge wrote on Mar 11^th, 2011 at 9:26am:

In nails thread it says we are busting, so are we booming Imcrook, or busting nail?

We are BOOMING, we will never BUST, it just doesn't happen in Australia.

If we don't learn from history, we are doomed to repeat it. Busts and booms go together like a horse and carriage............I could start singing....

Has there ever been a housing BUST in Australia....................never!

Immigration can't keep going! That's a factor that people are getting sick of!!

Of course a bust is possible!!!

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*Sure....they're anti competitive as any subsidised job is. It wouldn't be there without the tax payer. Very damned difficult for a brainwashed collectivist to understand that I know.... (swaggy) *

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qikvtec

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Re: Booming House Prices May Spark A Mortgage Crisis.
Reply #35 - Mar 11^th, 2011 at 9:50pm

Lisa Jones wrote on Mar 10^th, 2011 at 8:16pm:

Qikvtec .. did you miss the point I was making .. about how $1 mill in Sydney gets you nothing much now?

Move to Brisbane. One should not even consider a million dollar property if you couldn't afford to tear it down and spend another million on it. Not going to get any sympathy from me on this one.

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Politicians and Nappies need to be changed often and for the same reason.

One trouble with political jokes is that they often get elected.

Alan Joyce for PM

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Lisa Jones

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Re: Booming House Prices May Spark A Mortgage Crisis.
Reply #36 - Mar 11^th, 2011 at 10:52pm

qikvtec wrote on Mar 11^th, 2011 at 9:50pm:

Lisa Jones wrote on Mar 10^th, 2011 at 8:16pm:

Qikvtec .. did you miss the point I was making .. about how $1 mill in Sydney gets you nothing much now?

Move to Brisbane. One should not even consider a million dollar property if you couldn't afford to tear it down and spend another million on it. Not going to get any sympathy from me on this one.

Huh???

Move to where???

>> scratches her head <<

If that is where YOU are from then right now YOU have MY sympathy .. given property values there have dropped significantly on a/c of all the dramas QLD has experienced over the past few months.

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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 Gold Member Offline Australian Politics Posts: 39047 Sydney Gender:	Re: Booming House Prices May Spark A Mortgage Crisis. Reply #37 - Mar 11^th, 2011 at 10:53pm One should not even consider a million dollar property if you couldn't afford to tear it down and spend another million on it. - qikvtec Huh? Explain this .. coz right now it sounds insane.
Back to top	If I let myself be bought then I am no longer free. HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415) IP Logged

Lisa Jones

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Re: Booming House Prices May Spark A Mortgage Crisis.
Reply #38 - Mar 11^th, 2011 at 11:39pm

the FHOG never propped up existing properties which is the bulk of the market. the effect of the FHOG has been grossly overstated

- Longweekend

Huh?

Excuse me?

Were you out there actively looking for properties whilst the FHOG fiasco was on? I was.

The fact is .. the domestic real estate market WAS affected .. ADVERSELY affected. How? Homes which fell within the ambit of the FHOG cost price cap became artificially inflated.

What did this therefore mean? It meant ANYONE (ya hear that LONGWEEKEND) ANYONE ie first home owner or not .. who was looking for a property which fell within the FHOG cost price cap had to pay more for the property in question because the asking price of those properties went UP to factor in the FHOG $$.

Bottom line? It did NOTHING to help ANYONE! It was a complete failure. All it did was contribute to the bubble! And any real estate agent will confirm what I've stated.

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« Last Edit: Mar 11^th, 2011 at 11:45pm 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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Sir lastnail

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Re: Booming House Prices May Spark A Mortgage Crisis.
Reply #39 - Mar 11^th, 2011 at 11:52pm

Lisa Jones wrote on Mar 11^th, 2011 at 10:53pm:

One should not even consider a million dollar property if you couldn't afford to tear it down and spend another million on it.

- qikvtec

Huh?

Explain this .. coz right now it sounds insane.

I think he means that if you have a million dollar joint on the riverside and you get flooded out then you will have to rebuild it again with your own money because the insurance company won't come to the party Sad

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"If you take out Saddam, I guarantee you that it will have enormous positive reverberations on the region..." - Benjamin Netanyahu in 1995

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Lisa Jones

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Re: Booming House Prices May Spark A Mortgage Crisis.
Reply #40 - Mar 11^th, 2011 at 11:59pm

Sir lastnail wrote on Mar 11^th, 2011 at 11:52pm:

Lisa Jones wrote on Mar 11^th, 2011 at 10:53pm:

One should not even consider a million dollar property if you couldn't afford to tear it down and spend another million on it.

- qikvtec

Huh?

Explain this .. coz right now it sounds insane.

I think he means that if you have a million dollar joint on the riverside and you get flooded out then you will have to rebuild it again with your own money because the insurance company won't come to the party Sad

Oh. Thanks Last Nail. I've not been home that long .. and I'm Facebooking as well as reading Oz Pol .. so I guess I kinda missed his point.

As most here know (coz I keep saying it every 2nd day) .. I mainly specialise in the Sydney domestic real estate market. It's a large market .. and a robust and lucrative one IMO (compared to other parts of Oz).

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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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Ex Dame Pansi

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Re: Booming House Prices May Spark A Mortgage Crisis.
Reply #41 - Mar 12^th, 2011 at 6:12am

Lisa Jones wrote on Mar 11^th, 2011 at 10:52pm:

qikvtec wrote on Mar 11^th, 2011 at 9:50pm:

Lisa Jones wrote on Mar 10^th, 2011 at 8:16pm:

Qikvtec .. did you miss the point I was making .. about how $1 mill in Sydney gets you nothing much now?

Move to Brisbane. One should not even consider a million dollar property if you couldn't afford to tear it down and spend another million on it. Not going to get any sympathy from me on this one.

Huh???

Move to where???

>> scratches her head <<

If that is where YOU are from then right now YOU have MY sympathy .. given property values there have dropped significantly on a/c of all the dramas QLD has experienced over the past few months.

And there lies the problem of why Mr and Mrs Average can't have a house of their own to rare their family.

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"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.....

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qikvtec

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Re: Booming House Prices May Spark A Mortgage Crisis.
Reply #42 - Mar 12^th, 2011 at 6:10pm

Lisa Jones wrote on Mar 11^th, 2011 at 10:52pm:

qikvtec wrote on Mar 11^th, 2011 at 9:50pm:

Lisa Jones wrote on Mar 10^th, 2011 at 8:16pm:

Qikvtec .. did you miss the point I was making .. about how $1 mill in Sydney gets you nothing much now?

Move to Brisbane. One should not even consider a million dollar property if you couldn't afford to tear it down and spend another million on it. Not going to get any sympathy from me on this one.

Huh???

Move to where???

>> scratches her head <<

If that is where YOU are from then right now YOU have MY sympathy .. given property values there have dropped significantly on a/c of all the dramas QLD has experienced over the past few months.

Not far from Brisbane but not flood affected. Property value is fine thanks, maybe down 8% over the last couple of years but being up 400% I'm not too concerned for my property value. Wink

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Politicians and Nappies need to be changed often and for the same reason.

One trouble with political jokes is that they often get elected.

Alan Joyce for PM

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qikvtec

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Re: Booming House Prices May Spark A Mortgage Crisis.
Reply #43 - Mar 12^th, 2011 at 6:14pm

Lisa Jones wrote on Mar 11^th, 2011 at 10:53pm:

One should not even consider a million dollar property if you couldn't afford to tear it down and spend another million on it.

- qikvtec

Huh?

Explain this .. coz right now it sounds insane.

To even contemplate a million dollar mortgage your income should be at least $500k. Mr & Mrs Average have no business buying a million property with a significant mortgage, it's financial suicide on an instalment plan.

If $1m property gets you nothing and you can't afford to tear it down and rebuild it forget it; take a reality check and look for a different area that is within your means.

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Politicians and Nappies need to be changed often and for the same reason.

One trouble with political jokes is that they often get elected.

Alan Joyce for PM

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Lisa Jones

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Re: Booming House Prices May Spark A Mortgage Crisis.
Reply #44 - Mar 13^th, 2011 at 4:31pm

qikvtec wrote on Mar 12^th, 2011 at 6:10pm:

Lisa Jones wrote on Mar 11^th, 2011 at 10:52pm:

qikvtec wrote on Mar 11^th, 2011 at 9:50pm:

Lisa Jones wrote on Mar 10^th, 2011 at 8:16pm:

Qikvtec .. did you miss the point I was making .. about how $1 mill in Sydney gets you nothing much now?

Move to Brisbane. One should not even consider a million dollar property if you couldn't afford to tear it down and spend another million on it. Not going to get any sympathy from me on this one.

Huh???

Move to where???

>> scratches her head <<

If that is where YOU are from then right now YOU have MY sympathy .. given property values there have dropped significantly on a/c of all the dramas QLD has experienced over the past few months.

Not far from Brisbane but not flood affected. Property value is fine thanks, maybe down 8% over the last couple of years but being up 400% I'm not too concerned for my property value. Wink

Very bravely said.

I'd be in tears (if approx 10% of the value of my property portfolio was wiped out).

It hasn't happened thank God. I'm very fussy about position.

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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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