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House price collapse already started !! (Read 5286 times)
Sir lastnail
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Re: House price collapse already started !!
Reply #105 - Jul 11th, 2018 at 11:40am
 
Lets see what happens today at 1 pm. ??

Quote:
At 1pm AEST we’ll find out if Australia’s crackdown on risky mortgage lending will get even tougher with APRA Chair Wayne Byres set to deliver a key speech entitled “Developments in housing markets”. The speech will provide some clarity as to what the recent restrictions may mean for not only borrowers, but also the wider housing market.
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"When you understand why you dismiss all the other possible gods, you will understand why I dismiss yours." - Luke Muehlhauser
 
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Rhino
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Re: House price collapse already started !!
Reply #106 - Jul 11th, 2018 at 11:52am
 
Sir lastnail wrote on Jul 3rd, 2018 at 12:06am:
freediver wrote on Jul 2nd, 2018 at 9:52pm:
Bobby wrote on Jul 2nd, 2018 at 9:39pm:
freediver wrote on Jul 2nd, 2018 at 9:26pm:
So again you are using your own ignorance of the history of the housing market as evidence that you are correct?



Where have you been FD for the last 18 years?
Certainly not in Melbourne.

I'll state again but modified -

we haven't seen drops like this for 18 years.


You haven't seen, because you have not looked. You don't know how to look and you still do not know what you would be looking for.

Your ignorance is not evidence that you are correct.


don't worry mate, what goes up must come down or do you like most aussies arrogantly think that you know something that the rest of the world does not know ??
Are prices going down in the rest of the world?
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Rhino
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Re: House price collapse already started !!
Reply #107 - Jul 11th, 2018 at 12:40pm
 
Rhino wrote on Jul 11th, 2018 at 11:52am:
Sir lastnail wrote on Jul 3rd, 2018 at 12:06am:
freediver wrote on Jul 2nd, 2018 at 9:52pm:
Bobby wrote on Jul 2nd, 2018 at 9:39pm:
freediver wrote on Jul 2nd, 2018 at 9:26pm:
So again you are using your own ignorance of the history of the housing market as evidence that you are correct?



Where have you been FD for the last 18 years?
Certainly not in Melbourne.

I'll state again but modified -

we haven't seen drops like this for 18 years.


You haven't seen, because you have not looked. You don't know how to look and you still do not know what you would be looking for.

Your ignorance is not evidence that you are correct.


don't worry mate, what goes up must come down or do you like most aussies arrogantly think that you know something that the rest of the world does not know ??
Are prices going down in the rest of the world?

Looks like Lostnail ran away from this question. The answer is, no. why does Lostnail think he knows something the rest of the world doesnt?
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JollyGreenGiant
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Re: House price collapse already started !!
Reply #108 - Jul 11th, 2018 at 4:51pm
 
Why is everyone worried about the price of their house?

Our children and grandchildren will probably never own a house.  Australia needs to look at long term rentals like Europe does.

The 1950s quarter acre block with a 3 bedroom house, one bathroom and indoor toilet, is long gone.

I also don't think negative gearing is a great idea.

Australia needs to discover "something" new that gives young people (and old ones as well) JOBS. Aussies have always been great at that sort of thing. Create something that the World needs and do NOT sell it to the Yanks!
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Sir lastnail
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Re: House price collapse already started !!
Reply #109 - Jul 11th, 2018 at 11:42pm
 
Rhino wrote on Jul 11th, 2018 at 11:52am:
Sir lastnail wrote on Jul 3rd, 2018 at 12:06am:
freediver wrote on Jul 2nd, 2018 at 9:52pm:
Bobby wrote on Jul 2nd, 2018 at 9:39pm:
freediver wrote on Jul 2nd, 2018 at 9:26pm:
So again you are using your own ignorance of the history of the housing market as evidence that you are correct?



Where have you been FD for the last 18 years?
Certainly not in Melbourne.

I'll state again but modified -

we haven't seen drops like this for 18 years.


You haven't seen, because you have not looked. You don't know how to look and you still do not know what you would be looking for.

Your ignorance is not evidence that you are correct.


don't worry mate, what goes up must come down or do you like most aussies arrogantly think that you know something that the rest of the world does not know ??
Are prices going down in the rest of the world?


why would they ? The smart ones unwound their debt liabilities in property after the GFC whilst idiot Australia threw more money at it !! Go figure !!
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"When you understand why you dismiss all the other possible gods, you will understand why I dismiss yours." - Luke Muehlhauser
 
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Rhino
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Re: House price collapse already started !!
Reply #110 - Jul 12th, 2018 at 12:08am
 
Sir lastnail wrote on Jul 11th, 2018 at 11:42pm:
Rhino wrote on Jul 11th, 2018 at 11:52am:
Sir lastnail wrote on Jul 3rd, 2018 at 12:06am:
freediver wrote on Jul 2nd, 2018 at 9:52pm:
Bobby wrote on Jul 2nd, 2018 at 9:39pm:
freediver wrote on Jul 2nd, 2018 at 9:26pm:
So again you are using your own ignorance of the history of the housing market as evidence that you are correct?



Where have you been FD for the last 18 years?
Certainly not in Melbourne.

I'll state again but modified -

we haven't seen drops like this for 18 years.


You haven't seen, because you have not looked. You don't know how to look and you still do not know what you would be looking for.

Your ignorance is not evidence that you are correct.


don't worry mate, what goes up must come down or do you like most aussies arrogantly think that you know something that the rest of the world does not know ??
Are prices going down in the rest of the world?


why would they ? The smart ones unwound their debt liabilities in property after the GFC whilst idiot Australia threw more money at it !! Go figure !!
Absolute nonsense, prices are rising elsewhere. You have no idea what you are talking about, your posting is based on wishful thinking,  not reality. This is exactly why you are regarded as an idiot by everyone here.
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Sir lastnail
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Re: House price collapse already started !!
Reply #111 - Jul 12th, 2018 at 12:48am
 
Rhino wrote on Jul 12th, 2018 at 12:08am:
Sir lastnail wrote on Jul 11th, 2018 at 11:42pm:
Rhino wrote on Jul 11th, 2018 at 11:52am:
Sir lastnail wrote on Jul 3rd, 2018 at 12:06am:
freediver wrote on Jul 2nd, 2018 at 9:52pm:
Bobby wrote on Jul 2nd, 2018 at 9:39pm:
freediver wrote on Jul 2nd, 2018 at 9:26pm:
So again you are using your own ignorance of the history of the housing market as evidence that you are correct?



Where have you been FD for the last 18 years?
Certainly not in Melbourne.

I'll state again but modified -

we haven't seen drops like this for 18 years.


You haven't seen, because you have not looked. You don't know how to look and you still do not know what you would be looking for.

Your ignorance is not evidence that you are correct.


don't worry mate, what goes up must come down or do you like most aussies arrogantly think that you know something that the rest of the world does not know ??
Are prices going down in the rest of the world?


why would they ? The smart ones unwound their debt liabilities in property after the GFC whilst idiot Australia threw more money at it !! Go figure !!
Absolute nonsense, prices are rising elsewhere. You have no idea what you are talking about, your posting is based on wishful thinking,  not reality. This is exactly why you are regarded as an idiot by everyone here.


Is this wishful thinking dickhead ? Tell me how you are going to pay this lot off ? By selling more houses using more debt ? That's your wealth creation strategy is it Cheesy LOL




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"When you understand why you dismiss all the other possible gods, you will understand why I dismiss yours." - Luke Muehlhauser
 
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Rhino
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Re: House price collapse already started !!
Reply #112 - Jul 12th, 2018 at 12:56am
 
Posting that chart wont make up for your lack of factual evidence. The facts are that housing in capital cities around the world is expensive in comparison to Australia and rising, and Australian capital city housing is dirt cheap by comparison. You simply have no idea what you are talking about. Thats exactly why I have money and you dont. You do not understand finance, you are destined to remain on the bones of your arse.
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Bobby
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Re: House price collapse already started !!
Reply #113 - Jul 12th, 2018 at 7:30am
 
Rhino wrote on Jul 12th, 2018 at 12:08am:
Absolute nonsense, prices are rising elsewhere. You have no idea what you are talking about, your posting is based on wishful thinking,  not reality. This is exactly why you are regarded as an idiot by everyone here.



Nail is an international businessman who drives a luxury car.
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Extraordinary claims require extraordinary evidence.
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Rhino
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Re: House price collapse already started !!
Reply #114 - Jul 12th, 2018 at 10:21am
 
Bobby wrote on Jul 12th, 2018 at 7:30am:
Rhino wrote on Jul 12th, 2018 at 12:08am:
Absolute nonsense, prices are rising elsewhere. You have no idea what you are talking about, your posting is based on wishful thinking,  not reality. This is exactly why you are regarded as an idiot by everyone here.


Nail is an international businessman who drives a luxury car.
Anyone who is bereft of financial knowledge as he is couldnt tie their own shoelaces let alone run a business. 
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Sir lastnail
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Re: House price collapse already started !!
Reply #115 - Jul 12th, 2018 at 10:28am
 
Rhino wrote on Jul 12th, 2018 at 12:56am:
Posting that chart wont make up for your lack of factual evidence. The facts are that housing in capital cities around the world is expensive in comparison to Australia and rising, and Australian capital city housing is dirt cheap by comparison. You simply have no idea what you are talking about. Thats exactly why I have money and you dont. You do not understand finance, you are destined to remain on the bones of your arse.


You're an idiot whino. Stick to the cooking sherry mate. You can't even understand basic finance yourself. You'd be the sort that would buy bottles of expensive plonk with your credit card and big note yourself down at the local chinese BYO Cheesy LOL

Quote:
IMF warns Australia on household debt vulnerability

Key points:

  • Australia's household debt is amongst the world's highest, around 100pc of GDP
  • Average developed nation household debt is 63pc of GDP
  • IMF concludes that higher household debt raises the risks of financial crises


Australia's high levels of household debt leave it potentially exposed to a global economic shock or a banking crisis, the International Monetary Fund has warned.

An IMF study into highly leveraged households and financial stability singles out Australia, where household debt has risen to 100 per cent of GDP, well ahead of other advanced economies where the ratio is much lower at 63 per cent.

"Higher growth in household debt is associated with a greater probability of banking crises," according to the IMF's latest Global Financial Stability Report.

"New empirical studies — as well as recent experience from the global financial crisis — have shown that increases in private sector credit, including household debt, may raise the likelihood of a financial crisis and could lead to lower growth."

The IMF warns the global level of household debt "remains high by historical standards" and "has kept growing in other advanced economies such as Australia and Canada".

While the report noted that debt can be positive in the long term, it cited research showing that high household indebtedness can cause "a significant debt overhang when a country faces extreme negative shocks".

In addition to Australia and Canada, the study observed that Cyprus, Denmark, Switzerland and the Netherlands are also exposed to significantly higher levels of household debt.

The Reserve Bank of Australia has repeatedly warned that rising levels of household debt and slowing wages growth mean some consumers could struggle to meet mortgage repayments when interest rates start rising.

As expected, the RBA board left the cash rate on hold at 1.5 per cent yesterday, while noting its ongoing concerns.

"Growth in housing debt has been outpacing the slow growth in household incomes for some time," RBA governor Dr Philip Lowe said.

Warning not to rely on continued home price gains

Expectations are growing that the RBA could begin raising the cash rate next year, with some economists tipping a move within six months.

While the IMF points to positive effects of higher debt of through higher growth and lower unemployment, it warns the benefits are typically reversed in three to five years.

The IMF also warned that some households increase debt and consumption based on the perceived wealth of their real estate investments.

"Households that base their expectations solely on extrapolations from past events, when house prices have been growing, may increase their borrowing during housing booms because they expect their home equity to continue growing," the research found.

Household debt rising post-GFC

Globally, the median household debt-to-GDP ratio among emerging market economies increased from 15 per cent in 2008 to 21 per cent in 2016.

Among advanced economies, the ratio increased from 52 per cent to 63 per cent over the same period.

The IMF said the negative medium-term consequences of higher household debt are more pronounced for advanced economies than for emerging market economies, where household debt is lower.

However, the IMF suggested that fallout from high household indebtedness could be softened if countries improve their financial regulation, reduced dependence on external financing, adopted flexible exchange rates and lowered income inequality.

The IMF's report is based on a study of more than 80 advanced and emerging economies, where debt levels are rising a decade after the global financial crisis.


http://www.abc.net.au/news/2017-10-04/imf-warns-australia-on-household-debt/9013...
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"When you understand why you dismiss all the other possible gods, you will understand why I dismiss yours." - Luke Muehlhauser
 
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Rhino
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Re: House price collapse already started !!
Reply #116 - Jul 12th, 2018 at 10:40am
 
*yawn*, looks like I hit a nerve. why is it that the ones on the bones of their arse always know how to tell successful wealthy people they dont know what they are talking about? Lol.
prediction, in 5 years time im a million bucks richer (which I dont really need) and LostNail is still talking about a housing collapse and driving his 78 volvo. Any downturn in the housing market is simply an opportunity for me.
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red baron
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Re: House price collapse already started !!
Reply #117 - Jul 12th, 2018 at 10:50am
 
As I said a long time  ago, why would you pay a million plus for a hundred  year old two bedroom sh.tbox in Sydney?

Investors are going like lemmings over the cliff as they try to offload their crapbox investment homes which are suddenly reflecting their true worth..which isn't much really
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Sir lastnail
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Re: House price collapse already started !!
Reply #118 - Jul 12th, 2018 at 11:22am
 
Rhino wrote on Jul 12th, 2018 at 10:40am:
*yawn*, looks like I hit a nerve. why is it that the ones on the bones of their arse always know how to tell successful wealthy people they dont know what they are talking about? Lol.
prediction, in 5 years time im a million bucks richer (which I dont really need) and LostNail is still talking about a housing collapse and driving his 78 volvo. Any downturn in the housing market is simply an opportunity for me.


your a rich man living in Zimbabwe mate.

Stick to reading "Rich Dad Poor Dad" books. You'll go a long way Cheesy LOL


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"When you understand why you dismiss all the other possible gods, you will understand why I dismiss yours." - Luke Muehlhauser
 
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Sir lastnail
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Re: House price collapse already started !!
Reply #119 - Jul 12th, 2018 at 11:23am
 
red baron wrote on Jul 12th, 2018 at 10:50am:
As I said a long time  ago, why would you pay a million plus for a hundred  year old two bedroom sh.tbox in Sydney?

Investors are going like lemmings over the cliff as they try to offload their crapbox investment homes which are suddenly reflecting their true worth..which isn't much really


Whino would do this because some investment book he bought for $29.95 told him to do so Cheesy LOL
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"When you understand why you dismiss all the other possible gods, you will understand why I dismiss yours." - Luke Muehlhauser
 
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