Australian Politics Forum - Australia's house prices are over the top

Laugh till you cry Gold Member Offline Posts: 16619 In your happy place Gender:	Australia's house prices are over the top Jul 24^th, 2014 at 1:05am House price to income ratio is the highest in the world. Nearly triple that of Houston USA. Somethings got to give when the elastic sided economy snaps from the bulge. https://www.businessspectator.com.au/article/2014/7/23/australian-news/three-for...
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Swagman Gold Member Offline Beware of cheap imitations...... Posts: 15095 Illawarra NSW Gender:	Re: Australia's house prices are over the top Reply #1 - Jul 24^th, 2014 at 8:39am Chalk and cheese
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aquascoot

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Re: Australia's house prices are over the top
Reply #2 - Jul 24^th, 2014 at 8:50am

They are too high, my gut instinct tells me this. I wouldn't be buying at the moment.
I think they will stagnate for a while. I cant see them coming off by more than 10 % though, as there is a lot of pent up demand from renters.
the renters are in a bind. the only thing that will see a dramatic drop in prices is a full blown 10 % unemployment recession. This would , unfortunately hit the renters worse as they will be the ones losing their jobs. this then makes the situation that prices are falling but the battlers cant take advantage.
Who would swoop in?
The rich and the foreign investor would pick through the mess.
So, really, if the battlers are calling for a price crash so they can get into the market at a lower price, i'm not sure that would be the scenario.

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Prime Minister for Canyons Gold Member Offline Australian Politics Posts: 26906 Canberra Gender:	Re: Australia's house prices are over the top Reply #3 - Jul 24^th, 2014 at 9:15am Whereas I am buying at the moment in Canberra what with all the job losses here from a government committeed to saving jobs.
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Sir lastnail

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Re: Australia's house prices are over the top
Reply #4 - Jul 24^th, 2014 at 12:31pm

aquascoot wrote on Jul 24^th, 2014 at 8:50am:

They are too high, my gut instinct tells me this. I wouldn't be buying at the moment.
I think they will stagnate for a while. I cant see them coming off by more than 10 % though, as there is a lot of pent up demand from renters.
the renters are in a bind. the only thing that will see a dramatic drop in prices is a full blown 10 % unemployment recession. This would , unfortunately hit the renters worse as they will be the ones losing their jobs. this then makes the situation that prices are falling but the battlers cant take advantage.
Who would swoop in?
The rich and the foreign investor would pick through the mess.
So, really, if the battlers are calling for a price crash so they can get into the market at a lower price, i'm not sure that would be the scenario.

renters might be fueling the bubble but won't stop it from bursting. When the property market crashes so will the economy and no one will be able to afford to buy no matter how cheap because everyone will be kicked out of a job,

As for foreigners and rich coming in to save the day don't count on it. It never happened in the US after the GFC or any other country which experienced a property crash.

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Sir lastnail

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Re: Australia's house prices are over the top
Reply #5 - Jul 24^th, 2014 at 12:51pm

Laugh till you cry wrote on Jul 24^th, 2014 at 1:05am:

House price to income ratio is the highest in the world. Nearly triple that of Houston USA.

Somethings got to give when the elastic sided economy snaps from the bulge.

https://www.businessspectator.com.au/article/2014/7/23/australian-news/three-for...

http://1.static.australianindependentbusinessmedia.com.au/sites/default/files/st...

This is the reason they pulled "flip men" off TV because they didn't want the punters to learn they were being shafted in Australia on real estate deals. But you can still watch it here which will make you think twice about buying real estate in Australia and/or paying through the nose for renovations. The price people are paying for renovations alone here you can buy a complete house in the US. Go figure !!

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"All of the arab states have said we will have peace with Israel when there is a state of Palestine as a UN member state and properly constituted." - Jeffrey Sachs.

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King FriYAY II Gold Member Offline Australian Politics Posts: 2109	Re: Australia's house prices are over the top Reply #6 - Jul 24^th, 2014 at 2:01pm With our combined income we are nrealy 1:1 Get out of the city and get some frsh air, retards!!
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BatteriesNotIncluded Gold Member Offline MediocrityNET: because people died for this! Posts: 26966	Re: Australia's house prices are over the top Reply #7 - Jul 24^th, 2014 at 3:14pm Swagman wrote on Jul 24^th, 2014 at 8:39am: Chalk and cheese why?
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Bam

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Re: Australia's house prices are over the top
Reply #8 - Jul 25^th, 2014 at 5:39pm

aquascoot wrote on Jul 24^th, 2014 at 8:50am:

They are too high, my gut instinct tells me this. I wouldn't be buying at the moment.
I think they will stagnate for a while. I cant see them coming off by more than 10 % though, as there is a lot of pent up demand from renters.
the renters are in a bind. the only thing that will see a dramatic drop in prices is a full blown 10 % unemployment recession. This would , unfortunately hit the renters worse as they will be the ones losing their jobs. this then makes the situation that prices are falling but the battlers cant take advantage.
Who would swoop in?
The rich and the foreign investor would pick through the mess.
So, really, if the battlers are calling for a price crash so they can get into the market at a lower price, i'm not sure that would be the scenario.

This is a generalisation with no basis in fact. Do you really think bosses looking to cut staff would go after renters and leave mortgage holders untouched? Do you think that companies with no renters on staff are immune to the possibility of going out of business?

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You are not entitled to your opinion. You are only entitled to hold opinions that you can defend through sound, reasoned argument.

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John Smith Gold Member Offline Australian Politics Posts: 76827 Gender:	Re: Australia's house prices are over the top Reply #9 - Jul 25^th, 2014 at 5:55pm Sir lastnail wrote on Jul 24^th, 2014 at 12:51pm: This is the reason they pulled "flip men" off TV you're obssessed with that show ... they did not pull flip men off for that reaosn, flip men has been shown on and off for a couple of seasons now. stop making up facts to suit your dumb arguments
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John Smith

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Re: Australia's house prices are over the top
Reply #10 - Jul 25^th, 2014 at 6:02pm

BatteriesNotIncluded wrote on Jul 24^th, 2014 at 3:14pm:

Swagman wrote on Jul 24^th, 2014 at 8:39am:

Chalk and cheese

why?

there are many reasons why

for starters different countries with different rules ...

you want greener homes? you think adding a grey water system, solar, rainwater tanks etc doesn't add to the cost?

Before I can cut a tree down so as to build my house I have to put in a council application to cut the tree ... there's another few hundred dollars just there

materials are much more expensive here than O'seas .. I replace a broken window in Italy in 2000 .... it was about 1500mm x 800 mm total cost for the glass ....$10 you won't even get you the invoice

many many other reasons

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Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.

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Laugh till you cry Gold Member Offline Posts: 16619 In your happy place Gender:	Re: Australia's house prices are over the top Reply #11 - Jul 26^th, 2014 at 12:03am Japan had a property bubble. Then the market collapsed to below pre-bubble levels.
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Sir lastnail

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Re: Australia's house prices are over the top
Reply #12 - Jul 26^th, 2014 at 12:38pm

John Smith wrote on Jul 25^th, 2014 at 5:55pm:

Sir lastnail wrote on Jul 24^th, 2014 at 12:51pm:

This is the reason they pulled "flip men" off TV

you're obssessed with that show ... they did not pull flip men off for that reaosn, flip men has been shown on and off for a couple of seasons now. stop making up facts to suit your dumb arguments

but the block is going to start up again zzzzzzzzzzz. Another 6 months to renovate an overpriced old dump where the flipmen buy it cheaper, renovate it cheaper and sell it off cheaper all in one episode and you reckon there was no interest in that show Cheesy

dream on smith. You real estate crooks would stop at nothing to get your own way and that means ripping off the punters blind !!

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Sir lastnail

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Re: Australia's house prices are over the top
Reply #13 - Jul 26^th, 2014 at 12:40pm

John Smith wrote on Jul 25^th, 2014 at 6:02pm:

BatteriesNotIncluded wrote on Jul 24^th, 2014 at 3:14pm:

Swagman wrote on Jul 24^th, 2014 at 8:39am:

Chalk and cheese

why?

there are many reasons why

for starters different countries with different rules ...

you want greener homes? you think adding a grey water system, solar, rainwater tanks etc doesn't add to the cost?

Before I can cut a tree down so as to build my house I have to put in a council application to cut the tree ... there's another few hundred dollars just there

materials are much more expensive here than O'seas .. I replace a broken window in Italy in 2000 .... it was about 1500mm x 800 mm total cost for the glass ....$10 you won't even get you the invoice

many many other reasons

and as discussed on ABC radio the other day the biggest scammers in Australia are in the building trade. There are no shortage of horror stories of people being ripped off by so called "qualified" builders and tradesmen Sad

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"All of the arab states have said we will have peace with Israel when there is a state of Palestine as a UN member state and properly constituted." - Jeffrey Sachs.

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John Smith

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Re: Australia's house prices are over the top
Reply #14 - Jul 26^th, 2014 at 12:40pm

Sir lastnail wrote on Jul 26^th, 2014 at 12:38pm:

John Smith wrote on Jul 25^th, 2014 at 5:55pm:

Sir lastnail wrote on Jul 24^th, 2014 at 12:51pm:

This is the reason they pulled "flip men" off TV

you're obssessed with that show ... they did not pull flip men off for that reaosn, flip men has been shown on and off for a couple of seasons now. stop making up facts to suit your dumb arguments

but the block is going to start up again. Another 6 months to renovate an overpriced old dump where the flipmen buy it cheaper, renovate it cheaper and sell it off cheaper all in one episode and you reckon there was no interest in that show Cheesy

dream on smith. You real estate crooks would stop at nothing to get your own way and that means ripping off the punters blind !!

yes, the block starts again ... and they'll keep showing these shows while people keep watching ... thats how TV works. Cheesy

Next you'll be telling me Masterchef was concocted by the food industry ... Grin

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Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.

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