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House price collapse already started !! (Read 19392 times)
rhino
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Re: House price collapse already started !!
Reply #135 - Jul 12th, 2018 at 11:00pm
 
Sir lastnail wrote on Jul 12th, 2018 at 10:26pm:
[ where I live houses for sale are becoming stagnant and are not selling and staying unsold for months on end.  .
I don't buy in state housing areas.
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Sir lastnail
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Re: House price collapse already started !!
Reply #136 - Jul 12th, 2018 at 11:05pm
 
rhino wrote on Jul 12th, 2018 at 10:56pm:
Bobby. wrote on Jul 12th, 2018 at 4:29pm:
rhino wrote on 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. 



Nail knows what he's talking about -

you better listen to him.
If I listened to him in the last few years I would be at least half a mil down. So, I don't think so Booby. But you go for it, you are obviously getting rich from his advice.  Wink


here we go. Walter Mitty. Cheesy LOL
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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.
 
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Sir lastnail
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Re: House price collapse already started !!
Reply #137 - Jul 12th, 2018 at 11:15pm
 
rhino wrote on Jul 12th, 2018 at 10:56pm:
Bobby. wrote on Jul 12th, 2018 at 4:29pm:
rhino wrote on 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. 



Nail knows what he's talking about -

you better listen to him.
If I listened to him in the last few years I would be at least half a mil down. So, I don't think so Booby. But you go for it, you are obviously getting rich from his advice.  Wink


here we go. Walter Mitty and his billion dollar property portfolio. Cheesy LOL
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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.
 
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Setanta
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Re: House price collapse already started !!
Reply #138 - Jul 12th, 2018 at 11:31pm
 
Sir lastnail wrote on Jul 12th, 2018 at 10:26pm:
Setanta wrote on Jul 12th, 2018 at 9:03pm:
Stig wrote on Jul 12th, 2018 at 8:25pm:
Sir lastnail wrote on Jul 12th, 2018 at 2:30pm:
rhino wrote on Jul 12th, 2018 at 1:58pm:
WinkSir lastnail wrote on Jul 12th, 2018 at 12:59pm:
rhino wrote on Jul 12th, 2018 at 12:43pm:
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?
because you couldnt buy the same property in any other similar capital city for the same price. The Asians arent flocking here because we have nothing to sell them. Some of you people need to travel and broaden your perspective a bit

Quote:
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
Great buying opportunity, I love lemmings like yourself and Lostnail, its how I make money. And the true worth of anything is what someone is prepared to pay for it. While a 1 bedroom apartment in a 3rd world city like Jakarta with zero lifestyle attached is going for half a mil I think we can expect our property to continue to rise in the long term.


well lets see how you go now that the crooked banks have been exposed for their gov guaranteed reckless lending practices. Lets see if the old supply and demand theory stands up when their is no longer any cheap credit to go around Wink
I got all the cheap credit I want. My asset base is very big, banks are falling over themselves to lend me money if I wish. The people whom have trouble obtaining finance are the ones like you with no asset base.


Sure, keep borrowing from them with a 3% deposit down. That is the only way you can afford those houses. Cheesy LOL


Where are these magical banks providing 3% deposit loans?


They may not go that low but you can pay Lenders Mortgage Insurance and go pretty low. The loan is insured, the bank will get their money one way or another. The loan calculator I have been using will go as low as 5%. I think it will come down to your ability to service the loan.

House prices aren't falling around here, they are going up. My son has been looking and making offers, has been in bidding wars with people, sometimes up to close 10% more than what the property was advertised for. He know's when to pull out though but has lost the properties he was looking at.



where I live houses for sale are becoming stagnant and are not selling and staying unsold for months on end. Banks are not throwing the money that sellers want so there is this waiting game. That's how the down turn starts when the bears take control of the market.

As the easy access to credit dries up be prepared to see further drops.


Capital cities may have that happening as they have been way over priced for quite a while, that does not mean Australia wide, we do not all live in the capitals.

Take a look at the Lismore NSW housing prices. Sure this means it's worse for the locals and we get an influx of "car people" and some of them suck hairy dogs balls, but our property market is not falling. I wish it was.

Some of the areas you would consider less because they are out of the way are getting huge prices just because they offer city people(cashed up bogans) that work on the GC with a lifestyle they could never get where they work.
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« Last Edit: Jul 12th, 2018 at 11:45pm by Setanta »  
 
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Bobby.
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Re: House price collapse already started !!
Reply #139 - Jul 12th, 2018 at 11:52pm
 
Sir lastnail wrote on Jul 12th, 2018 at 11:05pm:
rhino wrote on Jul 12th, 2018 at 10:56pm:
Bobby. wrote on Jul 12th, 2018 at 4:29pm:
rhino wrote on 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. 



Nail knows what he's talking about -

you better listen to him.
If I listened to him in the last few years I would be at least half a mil down. So, I don't think so Booby. But you go for it, you are obviously getting rich from his advice.  Wink


here we go. Walter Mitty. Cheesy LOL



I bought & sold in the last 3 years & yes I made money
but the future looks bleak to me.
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Setanta
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Re: House price collapse already started !!
Reply #140 - Jul 12th, 2018 at 11:56pm
 
Imagine this for the GC yuppy. 1 hour clear freeway driving rather than sitting in traffic. . Coffee shop next door for the lattes.
https://www.allhomes.com.au/ah/nsw/sale-residential/27-main-street-clunes-north-...

Look at the size of that block.
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Setanta
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\/ Peace man!

Posts: 15851
Northern NSW
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Re: House price collapse already started !!
Reply #141 - Jul 13th, 2018 at 12:06am
 
Or https://www.allhomes.com.au/ah/nsw/sale-residential/1542-bangalow-road-clunes-no...
Just what Gordy was wanting, petland and a bit of small farming and all the comforts of the north shore close to the GC.
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rhino
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Re: House price collapse already started !!
Reply #142 - Jul 13th, 2018 at 12:23am
 
Bobby. wrote on Jul 12th, 2018 at 11:52pm:
Sir lastnail wrote on Jul 12th, 2018 at 11:05pm:
rhino wrote on Jul 12th, 2018 at 10:56pm:
Bobby. wrote on Jul 12th, 2018 at 4:29pm:
rhino wrote on 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. 



Nail knows what he's talking about -

you better listen to him.
If I listened to him in the last few years I would be at least half a mil down. So, I don't think so Booby. But you go for it, you are obviously getting rich from his advice.  Wink


here we go. Walter Mitty. Cheesy LOL



I bought & sold in the last 3 years & yes I made money
but the future looks bleak to me.
your mate doesnt understand the concept of making money Bobby, you will have to explain it to him next time he drops off your Amway order.
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Sir lastnail
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Re: House price collapse already started !!
Reply #143 - Jul 16th, 2018 at 5:34pm
 
Setanta wrote on Jul 12th, 2018 at 11:31pm:
Sir lastnail wrote on Jul 12th, 2018 at 10:26pm:
Setanta wrote on Jul 12th, 2018 at 9:03pm:
Stig wrote on Jul 12th, 2018 at 8:25pm:
Sir lastnail wrote on Jul 12th, 2018 at 2:30pm:
rhino wrote on Jul 12th, 2018 at 1:58pm:
WinkSir lastnail wrote on Jul 12th, 2018 at 12:59pm:
rhino wrote on Jul 12th, 2018 at 12:43pm:
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?
because you couldnt buy the same property in any other similar capital city for the same price. The Asians arent flocking here because we have nothing to sell them. Some of you people need to travel and broaden your perspective a bit

Quote:
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
Great buying opportunity, I love lemmings like yourself and Lostnail, its how I make money. And the true worth of anything is what someone is prepared to pay for it. While a 1 bedroom apartment in a 3rd world city like Jakarta with zero lifestyle attached is going for half a mil I think we can expect our property to continue to rise in the long term.


well lets see how you go now that the crooked banks have been exposed for their gov guaranteed reckless lending practices. Lets see if the old supply and demand theory stands up when their is no longer any cheap credit to go around Wink
I got all the cheap credit I want. My asset base is very big, banks are falling over themselves to lend me money if I wish. The people whom have trouble obtaining finance are the ones like you with no asset base.


Sure, keep borrowing from them with a 3% deposit down. That is the only way you can afford those houses. Cheesy LOL


Where are these magical banks providing 3% deposit loans?


They may not go that low but you can pay Lenders Mortgage Insurance and go pretty low. The loan is insured, the bank will get their money one way or another. The loan calculator I have been using will go as low as 5%. I think it will come down to your ability to service the loan.

House prices aren't falling around here, they are going up. My son has been looking and making offers, has been in bidding wars with people, sometimes up to close 10% more than what the property was advertised for. He know's when to pull out though but has lost the properties he was looking at.



where I live houses for sale are becoming stagnant and are not selling and staying unsold for months on end. Banks are not throwing the money that sellers want so there is this waiting game. That's how the down turn starts when the bears take control of the market.

As the easy access to credit dries up be prepared to see further drops.


Capital cities may have that happening as they have been way over priced for quite a while, that does not mean Australia wide, we do not all live in the capitals.

Take a look at the Lismore NSW housing prices. Sure this means it's worse for the locals and we get an influx of "car people" and some of them suck hairy dogs balls, but our property market is not falling. I wish it was.

Some of the areas you would consider less because they are out of the way are getting huge prices just because they offer city people(cashed up bogans) that work on the GC with a lifestyle they could never get where they work.


That's what happens when the market turns bearish. Not all will turn at the same time.
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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.
 
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Bobby.
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Re: House price collapse already started !!
Reply #144 - Jul 16th, 2018 at 5:36pm
 
rhino wrote on Jul 13th, 2018 at 12:23am:
Bobby. wrote on Jul 12th, 2018 at 11:52pm:
Sir lastnail wrote on Jul 12th, 2018 at 11:05pm:
rhino wrote on Jul 12th, 2018 at 10:56pm:
Bobby. wrote on Jul 12th, 2018 at 4:29pm:
rhino wrote on 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. 



Nail knows what he's talking about -

you better listen to him.
If I listened to him in the last few years I would be at least half a mil down. So, I don't think so Booby. But you go for it, you are obviously getting rich from his advice.  Wink


here we go. Walter Mitty. Cheesy LOL



I bought & sold in the last 3 years & yes I made money
but the future looks bleak to me.
your mate doesnt understand the concept of making money Bobby, you will have to explain it to him next time he drops off your Amway order.



Nail is an international businessman who drives a luxury car.


He doesn't need your advice or mine.
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Sir lastnail
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Re: House price collapse already started !!
Reply #145 - Jul 16th, 2018 at 5:37pm
 
rhino wrote on Jul 13th, 2018 at 12:23am:
Bobby. wrote on Jul 12th, 2018 at 11:52pm:
Sir lastnail wrote on Jul 12th, 2018 at 11:05pm:
rhino wrote on Jul 12th, 2018 at 10:56pm:
Bobby. wrote on Jul 12th, 2018 at 4:29pm:
rhino wrote on 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. 



Nail knows what he's talking about -

you better listen to him.
If I listened to him in the last few years I would be at least half a mil down. So, I don't think so Booby. But you go for it, you are obviously getting rich from his advice.  Wink


here we go. Walter Mitty. Cheesy LOL



I bought & sold in the last 3 years & yes I made money
but the future looks bleak to me.
your mate doesnt understand the concept of making money Bobby, you will have to explain it to him next time he drops off your Amway order.


you mean profiting out of other peoples financial misery is your idea of creating wealth. Lazy dumb aussie mentality. No wonder you were a useless public servant all of your life. Couldn't sh.t in your hands and clap Sad
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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.
 
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Sir lastnail
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Re: House price collapse already started !!
Reply #146 - Jul 16th, 2018 at 6:21pm
 
Bobby. wrote on Jul 16th, 2018 at 5:36pm:
rhino wrote on Jul 13th, 2018 at 12:23am:
Bobby. wrote on Jul 12th, 2018 at 11:52pm:
Sir lastnail wrote on Jul 12th, 2018 at 11:05pm:
rhino wrote on Jul 12th, 2018 at 10:56pm:
Bobby. wrote on Jul 12th, 2018 at 4:29pm:
rhino wrote on 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. 



Nail knows what he's talking about -

you better listen to him.
If I listened to him in the last few years I would be at least half a mil down. So, I don't think so Booby. But you go for it, you are obviously getting rich from his advice.  Wink


here we go. Walter Mitty. Cheesy LOL



I bought & sold in the last 3 years & yes I made money
but the future looks bleak to me.
your mate doesnt understand the concept of making money Bobby, you will have to explain it to him next time he drops off your Amway order.



Nail is an international businessman who drives a luxury car.


He doesn't need your advice or mine.


like most aussies who are knee deep in debt on their property portfolios whino just hates the thought of his investments losing value because the banks will no longer throw money at suckers to buy his his old dumps from him. If you'd listened to whinos free financial advice you would have ended up like this dude who is 250K down on his property investments. Not a good position to be in when you are trying to get to sleep at night Sad


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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.
 
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Sir lastnail
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Re: House price collapse already started !!
Reply #147 - Jul 19th, 2018 at 9:15am
 
More bad news for whino. Better stock up on some cheap plonk mate. After this you will need it Wink

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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.
 
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Sir lastnail
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Re: House price collapse already started !!
Reply #148 - Jul 19th, 2018 at 10:31am
 
Even more bad news for whino ! Like I said you can have all of the demand you want but if you can't get the spondoolies to pay for it guess what happens ?

Quote:
The 'epicentre of the downturn': Sydney housing slump to last until at least 2020, say economists

Sydney's property market slump will last at least another two years as tougher lending standards and buyer nerves weigh on prices.

That's the consensus from a Bloomberg survey of 15 economists, over a third of which have turned more pessimistic within the last three months.

Prices Australia-wide have fallen for nine straight months as the housing boom goes into reverse. Sydney, where affordability is most stretched and investors had the biggest influence, is being hit hardest: values in the harbour city are down 4.5 per cent in the past year compared to 0.8 per cent nationally.

"Sydney is at the epicentre of the housing market downturn," said Stephen Roberts, an economist at Laminar Capital.

"Much of the decline in house prices seems to be related to housing investors and the tightening of lending standards."

Sydney's slump is poised to deepen, with the median peak-to-trough price fall estimated at 10 per cent compared to 5 per cent for the country as a whole. Still, the data conceals a considerable range of views: while three economists forecast falls of 15 per cent in Sydney, two see declines of less than 7 per cent.

Just three of the 14 economists who supplied a time frame believe prices in Sydney will begin to rise again in under two years. The rest predicted it would be at least two years before any price increases, and even then most suggested values would flatten after 2020 rather than rebound.

"Given regulators' desire to see stability in the house price-to-income and debt-to-income ratios, we think it will be some time before house prices start to move again," said Sally Auld, chief economist for Australia at JPMorgan Chase & Co.

The biggest single factor weighing on house prices is credit availability, according to the survey. Regulators have gradually tightened curbs on riskier loans, such as interest-only mortgages, while also enforcing stricter expense and debt verification for borrowers.

It is not the only factor, with weak wage growth, higher utilities prices and an already high debt burden also affecting prices, says NAB's chief economist Alan Oster.

The ongoing banking royal commission could put further pressure on the market, with Oxford Economics' Sarah Hunter says if new regulations are introduced, it could lead to a "larger correction."


https://www.smh.com.au/business/the-economy/the-epicentre-of-the-downturn-sydney...
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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.
 
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Sir lastnail
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Re: House price collapse already started !!
Reply #149 - Jul 22nd, 2018 at 11:45am
 
Seems that so many news commentators have turned bearish on house prices lately. Can we attribute this to the RC into banks ?

Quote:
Is the bottom about to fall out of our $6.9 trillion property market?

....But home values are increasingly a daily concern for most of us.

After a half decade run up in prices, the property market has turned.

The headlines have been worrying indeed.

An exodus of investors following a crackdown on investor borrowing and interest only lending.

Tighter lending standards for new borrowers expected after revelations of lax lending in the banking royal commission.

A drop in foreign investors thanks to new charges.

A fresh funding squeeze forcing smaller lenders to inflict out-of-cycle interest rate hikes.

Last week, the banking regulator signalled an end to its attempts to cool investor lending.

And this week, minutes released from the latest Reserve Bank board meeting – at which it left interest rates at record lows for a now unprecedented period – reveal Australia’s top economic policy makers discussed (at length) a special report on the risks of Australia’s world-leading level of household debt.

On average, households now shoulder mortgage debt worth 140 per cent of their annual disposable income – up steeply from 120 per cent in 2012.

“Households with high debt levels are more vulnerable to economic shocks and therefore more likely to reduce consumption in the face of uncertainty about their future income,” the board minutes state.

Could the bottom be about to fall out of the $6.9 trillion residential property market?

Prices are already on the slide.

According to the most regularly updated index of home prices by private sector outfit CoreLogic, the value of homes has fallen 1.3 per cent below their peak of last September.

In Sydney, the annual decline has been clocked at 4.5 per cent. In Melbourne, the pace of price growth shrank to just 1 per cent over the past year – with prices tumbling 1.4 per cent over the last three months.

Auction clearance rates are close to 50 per cent in both cities.

The wildcard in this property correction is the increasing proportion of housing held by property investors, compared to owner occupiers.

According to the Tax Office, about 11 per cent of the adult population owns one or more investment property, up from 7 per cent in the 1990s.

Owner-occupiers typically hold on to properties – refusing to sell – as prices fall. But investors, at least in theory, take a more calculated view.....


https://www.smh.com.au/business/the-economy/is-the-bottom-about-to-fall-out-of-o...

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« Last Edit: Jul 22nd, 2018 at 11:54am by Sir lastnail »  

In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.
 
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