Australian Politics Forum - About the Housing Dropping 50% in Value

Billy Jack

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About the Housing Dropping 50% in Value
May 1^st, 2014 at 4:48pm

Friends, about the housing discussion here where y'all are saying it will drop 27%

It won't.

It will drop 50% and such.

Why?

Because them young folks aint going to buy them.

Why?

Because they aint worth nothing friends, thats why. They is poorly built, have bad traffics and such, poor transits, and yer neighbours will be loud music bogans and skateboard kids in a location thats miles away from anywhere with real services and such. Them houses aint worth nothing. And the land? Well friends, look at our fine country - it's like ice for eskimoes.

Here's why friends.

Why yer house aint worth nothing.

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Billy Jack

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Re: About the Housing Dropping 50% in Value
Reply #1 - May 1^st, 2014 at 4:50pm

And the future of our economies friends, well friends, my heart is heavy, especially with them foreign car makers and refineries and such leaving. And them QANTAS jobs which are over 5000 as explained here friends

http://www.youtube.com/watch?v=YLnaKoUvCqk

Friends, it also makes Billy J Jack sad, but them young folks are leaving our fine country.

Why?

Because they aint going to sign up for a 42 Years a Wage Slave Mortgage just to buy them ghetto ass shacks of sticks and bricks at the ass end of some ghetto suburb, and they dont want to rent and be at the mercy of Bogans who Think They'll Become Donald Trump Millionaires Through Housing.

So them folks are gittin their fancy degrees and such and flying away. Because them housing and population ponzis are the only games in town friends, and it makes me sad.

That aint right friend. It aint right!

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Laugh till you cry

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Re: About the Housing Dropping 50% in Value
Reply #2 - May 1^st, 2014 at 9:49pm

They now need 100 year mortgages to make them affordable.

The economic landscape is racing past and people are falling by the wayside as the world rushes by. The gravy train's wheels are falling off and the feigned wealth of Australia is just a facade which will be knocked over by the first tempest.

A fundamental of Australia is that markets are small and distances great. Shipping has a cost advantage over land transport which is why many goods are now imported.

The internet is now allowing foreigners to compete for the services market in Australia which might strangle that employment avenue. Some companies in Australia are already using overseas services providers.

The A$ is set to rise higher which will aggravate the current competitiveness malaise.

There is plenty of land and tents are still affordable. I am off to the Billabong to catch me a jolly jumbuck for my tucker bag.

Shoot through Blue. Hit the road Jack and dontcha come back no more no more no more.

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« Last Edit: May 1^st, 2014 at 10:01pm by Laugh till you cry »

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Billy Jack

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Re: About the Housing Dropping 50% in Value
Reply #3 - May 2^nd, 2014 at 7:00am

Friend, the thread is about house prices.

Y'all are confusing house prices with "wealth".

Y'all obviously do not understand wealth, despite yer musings on our dollar, which again, aint about wealth at all.

Wealth is about having clean foods, waters and airs friend. It's about being able to be born without the risks of having yer life terminated in the wombs and such because y'all are a girl. It's about being part of a community that don't think certain people are special over others, much like y'all seem to demonstrate here with yer superior airs and such, and yer anti-White pro-Yeller superiorities and such.

Friend, I'll give y'all a free pass because we all know what happened to y'all during yer youth. Being dropped on yer head aint pleasant, even if yer have a thick skull.

But friend, please direct yer attention to the topic of this thread, which is about them house prices, and if y'all cannot do that, then direct yer love and attention to improving the plight of these fine folks.

And friend, Yer Most Welcome.

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longweekend58 Gold Member Offline Australian Politics Posts: 45675 Gender:	Re: About the Housing Dropping 50% in Value Reply #4 - May 2^nd, 2014 at 9:24am you are an idiot.
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Frances

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Re: About the Housing Dropping 50% in Value
Reply #5 - May 2^nd, 2014 at 9:49am

Billy Jack wrote on May 1^st, 2014 at 4:48pm:

They is poorly built, have bad traffics and such, poor transits, and yer neighbours will be loud music bogans and skateboard kids in a location thats miles away from anywhere with real services and such. Them houses aint worth nothing. And the land? Well friends, look at our fine country - it's like ice for eskimoes.

Strange. I live in a quiet street, with buses to Hornsby, Parramatta and the City just around the corner. The quality of design, workmanship and the inclusions in our house is pretty high. The only family that plays loud music around here is two streets away (and it's not that loud that we can hear it in our house) and there is a major centre about ten or fifteen minutes walk away.

I can only assume that you must be talking about Brisbane. It must be a depressing place.

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sherri

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Re: About the Housing Dropping 50% in Value
Reply #6 - May 2^nd, 2014 at 9:50am

longweekend58 wrote on May 2^nd, 2014 at 9:24am:

you are an idiot.

Don't you mean "Y'all are an idiot." Wink

Let him go, he has an interesting writing style.

Billy Jack wrote on May 1^st, 2014 at 4:48pm:

Friends, about the housing discussion here where y'all are saying it will drop 27%

It won't.

It will drop 50% and such.

Why?

Because them young folks aint going to buy them.

Why?

Because they aint worth nothing friends, thats why. They is poorly built, have bad traffics and such, poor transits, and yer neighbours will be loud music bogans and skateboard kids in a location thats miles away from anywhere with real services and such. Them houses aint worth nothing. And the land? Well friends, look at our fine country - it's like ice for eskimoes.

BJ, they won't drop 50% because them young folks ain't goin' to sell 'em at that there price, not if they still have to keep paying the excess mortgage on 'em.

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longweekend58

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Re: About the Housing Dropping 50% in Value
Reply #7 - May 2^nd, 2014 at 11:27am

sherri wrote on May 2^nd, 2014 at 9:50am:

longweekend58 wrote on May 2^nd, 2014 at 9:24am:

you are an idiot.

Don't you mean "Y'all are an idiot." Wink

Let him go, he has an interesting writing style.

Billy Jack wrote on May 1^st, 2014 at 4:48pm:

Friends, about the housing discussion here where y'all are saying it will drop 27%

It won't.

It will drop 50% and such.

Why?

Because them young folks aint going to buy them.

Why?

Because they aint worth nothing friends, thats why. They is poorly built, have bad traffics and such, poor transits, and yer neighbours will be loud music bogans and skateboard kids in a location thats miles away from anywhere with real services and such. Them houses aint worth nothing. And the land? Well friends, look at our fine country - it's like ice for eskimoes.

BJ, they won't drop 50% because them young folks ain't goin' to sell 'em at that there price, not if they still have to keep paying the excess mortgage on 'em.

nicely said. but he is still a one-touthed bogan idiot.

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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: About the Housing Dropping 50% in Value
Reply #8 - May 2^nd, 2014 at 8:47pm

Billy Jack wrote on May 2^nd, 2014 at 7:00am:

Friend, the thread is about house prices.

Y'all are confusing house prices with "wealth".

Y'all obviously do not understand wealth, despite yer musings on our dollar, which again, aint about wealth at all.

Wealth is about having clean foods, waters and airs friend. It's about being able to be born without the risks of having yer life terminated in the wombs and such because y'all are a girl. It's about being part of a community that don't think certain people are special over others, much like y'all seem to demonstrate here with yer superior airs and such, and yer anti-White pro-Yeller superiorities and such.

Friend, I'll give y'all a free pass because we all know what happened to y'all during yer youth. Being dropped on yer head aint pleasant, even if yer have a thick skull.

But friend, please direct yer attention to the topic of this thread, which is about them house prices, and if y'all cannot do that, then direct yer love and attention to improving the plight of these fine folks.

And friend, Yer Most Welcome.

You are right

Property creates debt not wealth as some people on this forum foolishly believe. If property created wealth then Detroit would not be a basket case and there would be no need for productive industries such as manufacturing.

The proof is in the debt clock. Note that property debt clock always increases. It only ever creates debt no matter how many spivs profit from flogging off their investment properties. Their profit is someone elses bank debt !!

http://www.australiandebtclock.com.au/

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debtclock_034.gif (30 KB | 84 )

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Sophia

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Re: About the Housing Dropping 50% in Value
Reply #9 - May 2^nd, 2014 at 9:27pm

Let's discuss something about 'debt'.

From my own life's experiences, I had learnt, that there was no way, with just working normal hours, with a normal wage, that I could ever afford to 'save' enough money over x amount of years, for a house back in the 1970's that was then valued at approx $30,000 (based on a 3 bedroom brick veneer home on a 1/4 acre or 1/3 acre).

The only way, and I mean the only way we could get ahead, was to borrow money, and buy it, that secured it for us.
It was better to work on a budget or our pay checks, and living expenses, and not living beyond our means, and pay back the loan, as this was better in the long run, rather than, wait, and wait, and save and save and hope to get it at a price we can just pay for it outright, with our meagre savings, whilst the cost of living also rises. And wait and wait, and save as much as we can, waiting for the price of housing to fall, but it doesn't, what was once $30,000 in the mid 1970's is now about $380,000.

So we would have to live with our parents to be able to do that, work and save, and maybe buy a place outright?

Doesn't happen like that.

If you want a car, you need a car to get to work, the car places offer immediate finance (albeit at a higher interest rate)...but still, if you need a car, and haven't saved anything, then how else do you get a car?
And why wait for a holiday?
We took $5000 against our home loan to go on our 1st cruise holiday back in 2009, and if we didn't do that then, we would never have enjoyed the delights of a cruise.
Why wait until we are 70 or 80 to do that?
So in the meantime, we paid that $5,000 back.

So yes, in order to get ahead, you have to sometimes get a debt. So it's not that bad, the word "debt".
Can have positives to it also.

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Vuk11

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Re: About the Housing Dropping 50% in Value
Reply #10 - May 2^nd, 2014 at 11:10pm

Sophia wrote on May 2^nd, 2014 at 9:27pm:

So yes, in order to get ahead, you have to sometimes get a debt. So it's not that bad, the word "debt".
Can have positives to it also.

Of course if people actually worked up debt and actually paid it off it would be dandy but most people don't, they just keep spending on their credit cards, keeping paying the interest off their homes and refinancing.

As far as government debt goes the problem is the reasons for going into debt, they didn't do massive investments to go into debt, they had to spend to avoid the ills of the GFC, however since then we were supposed to be recovering not having a youth unemployment problem, an aged pension problem where our Welfare expenditure is rising whilst our individual tax income is falling to the point where it won't even cover welfare, let along health and everything else. (currently it's around 78% of our individual tax income, combined with Health it goes to 115% and is only kept in check by other revenue streams)

Another problem with government debt is if the economy doesn't grow whilst in debt it makes it harder to actually pay it off and we risk contraction, inflation, unemployment and if the GFC comes back around we won't have that surplus to spend to keep us afloat, whilst the EU and US will not be able to lower interest rates as they're pretty much 0% now!

Also there's the potential issue of malinvestment where investments were made that are unsustainable in the long term especially if interest rates rise meaning pretty much "fake growth" where it's not really fake but rather unsustainable if something happens in the next 10 years.

Government debt is a very dangerous game especially when the liability for it falls onto subsequent generations meaning we are potentially selling out children and grand children into debt slavery, forcing them to pay for us while trying to get ahead and that's a recipe for disaster.

PS. Something like 70-90% of home loans in Australia are variable rates, I'm not sure of the fine print on those contracts but I doubt people will be able to pay their loans if Interest rates go from 2.5% to 5%/10%/15%, we may have a big housing bubble on our hands

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ian

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Re: About the Housing Dropping 50% in Value
Reply #11 - May 2^nd, 2014 at 11:13pm

Vuk11 wrote on May 2^nd, 2014 at 11:10pm:

Of course if people actually worked up debt and actually paid it off it would be dandy but most people don't, they just keep spending on their credit cards, keeping paying the interest off their homes and refinancing.

No, thats quite incorrect. While a certain amount of people do live like this the majority dont. The average australian is actually 2 years ahead in mortgage payments and pays off their credit card monthly.

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Sophia

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Re: About the Housing Dropping 50% in Value
Reply #12 - May 2^nd, 2014 at 11:32pm

ian wrote on May 2^nd, 2014 at 11:13pm:

Vuk11 wrote on May 2^nd, 2014 at 11:10pm:

Of course if people actually worked up debt and actually paid it off it would be dandy but most people don't, they just keep spending on their credit cards, keeping paying the interest off their homes and refinancing.

No, thats quite incorrect. While a certain amount of people do live like this the majority dont. The average australian is actually 2 years ahead in mortgage payments and pays off their credit card monthly.

The finance reported the other night, showed that personal debt was down by 9%.
So people are actually learning about money (and credit card) management.
I have to say, I notice a decline in shoppers in any shopping centre now, and if you look, the place seems so quiet, and the shoppers that are there, are mainly in the dining area, and if you look, they don't have much shopping bags they are carting around.

As for our government debt, you can thank the Labour government for that. The Liberals (John Howard years) were so tough on us, cutting back on so many services, and even closing down smaller regional schools etc and selling off the land, to get us debt free, and we were.

Damned all for nothing wasn't it?

Where are the sensible people to manage money in government now?
Where are the savvy business people that can teach some of these politicians a thing or two about better management deals?

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If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand.

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Grappler Racist Filth

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Re: About the Housing Dropping 50% in Value
Reply #13 - May 2^nd, 2014 at 11:42pm

The thing about debt is the ability to service it - in terms of our personal finances, we do that out of income we generate via work etc.

In the case of government, which finds some amazing need to borrow massive amounts of money for its pet aims, the ONLY way of recouping money - i.e. 'earning it' to service that debt is through taxation = through us who work to pay off our debts.

Basically governments here have been borrowing too much with too little collateral, and it is thus we who are forced to pay the price for debt we have not incurred.

There are better ways - and government has adequate income from taxation (I've outlined before the cycle of taxation) to NOT incur massive debt - yet it does.

That speaks to me of mis-management - about on a par with most businesses - which , without all the comfy shelters etc, simply cannot survive.

You've seen that in the past year with certain industries.... for which disasters who takes the debts and the responsibility?

You guessed it - the working public who, in good faith, negotiated and accepted pay rises given to them through negotiation with that management and the government, or through the government's own body that determines wage rises.

Now the same working public are copping it for the government not having enough income to cover its debts.

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ian

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Re: About the Housing Dropping 50% in Value
Reply #14 - May 3^rd, 2014 at 12:18am

Sophia wrote on May 2^nd, 2014 at 11:32pm:

ian wrote on May 2^nd, 2014 at 11:13pm:

Vuk11 wrote on May 2^nd, 2014 at 11:10pm:

Of course if people actually worked up debt and actually paid it off it would be dandy but most people don't, they just keep spending on their credit cards, keeping paying the interest off their homes and refinancing.

No, thats quite incorrect. While a certain amount of people do live like this the majority dont. The average australian is actually 2 years ahead in mortgage payments and pays off their credit card monthly.

The finance reported the other night, showed that personal debt was down by 9%.
So people are actually learning about money (and credit card) management.

yes, I agree with this.

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