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House price collapse already started !! (Read 5284 times)
Gordon
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Re: House price collapse already started !!
Reply #15 - Jun 20th, 2018 at 7:47pm
 
Bobby wrote on Jun 20th, 2018 at 7:36pm:
Gordon wrote on Jun 20th, 2018 at 7:29pm:
Sir lastnail wrote on Jun 20th, 2018 at 7:27pm:
Gordon wrote on Jun 20th, 2018 at 7:25pm:
Prices have dropped a smidge in Sydney and guess what the result is.
Buyer support is coming back.

Also in Sydney, units in areas of over supply are getting hammered, but good houses in good areas haven't moved much.

There will be no bust.


That's exactly what they said in Ireland and "the doomsayers should go and hang themselves" said one politician Cheesy LOL


LOL, we're not Ireland.

Support for quality properties in the Sydney market has already returned.



What about over priced units with a body corporate to deal with?


The units that are getting hit are in areas that have had a development boom.

Even good units in good areas are still going well.

I was looked at an unrenovated 3 bedder apartment in a block of 12 in Neutral Bay last week, it sold in 3 days, $1.4
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Bobby
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Re: House price collapse already started !!
Reply #16 - Jun 20th, 2018 at 8:08pm
 
Setanta wrote on Jun 20th, 2018 at 7:46pm:
Bobby wrote on Jun 20th, 2018 at 7:36pm:
Gordon wrote on Jun 20th, 2018 at 7:29pm:
Sir lastnail wrote on Jun 20th, 2018 at 7:27pm:
Gordon wrote on Jun 20th, 2018 at 7:25pm:
Prices have dropped a smidge in Sydney and guess what the result is.
Buyer support is coming back.

Also in Sydney, units in areas of over supply are getting hammered, but good houses in good areas haven't moved much.

There will be no bust.


That's exactly what they said in Ireland and "the doomsayers should go and hang themselves" said one politician Cheesy LOL


LOL, we're not Ireland.

Support for quality properties in the Sydney market has already returned.



What about over priced units with a body corporate to deal with?


Unit prices are going down here, have been for a year, house prices still rising.



Units are risky.
I know a block of units that have not gone up in price for more than 5 years.
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Gordon
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Re: House price collapse already started !!
Reply #17 - Jun 20th, 2018 at 8:13pm
 
Bobby wrote on Jun 20th, 2018 at 8:08pm:
Setanta wrote on Jun 20th, 2018 at 7:46pm:
Bobby wrote on Jun 20th, 2018 at 7:36pm:
Gordon wrote on Jun 20th, 2018 at 7:29pm:
Sir lastnail wrote on Jun 20th, 2018 at 7:27pm:
Gordon wrote on Jun 20th, 2018 at 7:25pm:
Prices have dropped a smidge in Sydney and guess what the result is.
Buyer support is coming back.

Also in Sydney, units in areas of over supply are getting hammered, but good houses in good areas haven't moved much.

There will be no bust.


That's exactly what they said in Ireland and "the doomsayers should go and hang themselves" said one politician Cheesy LOL


LOL, we're not Ireland.

Support for quality properties in the Sydney market has already returned.



What about over priced units with a body corporate to deal with?


Unit prices are going down here, have been for a year, house prices still rising.



Units are risky.
I know a block of units that have not gone up in price for more than 5 years.


In some areas they do even worse.  Good unit in GOOD area, double on 10 years.
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Bobby
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Re: House price collapse already started !!
Reply #18 - Jun 20th, 2018 at 8:19pm
 
Gordon wrote on Jun 20th, 2018 at 8:13pm:
In some areas they do even worse.  Good unit in GOOD area, double on 10 years.



That's history now.
I think house prices will go down 20% over the next few years.
Units may do worse.
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Extraordinary claims require extraordinary evidence.
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freediver
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Re: House price collapse already started !!
Reply #19 - Jun 20th, 2018 at 8:24pm
 
0.7% drop eh? Is it time to crack each others' heads open and feast on the goo inside?
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Bobby
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Re: House price collapse already started !!
Reply #20 - Jun 20th, 2018 at 8:27pm
 
freediver wrote on Jun 20th, 2018 at 8:24pm:
0.7% drop eh? Is it time to crack each others' heads open and feast on the goo inside?


FD,
mocketh not when faced with facts:

interest-only loans worth a combined total of about $360 billion.
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Re: House price collapse already started !!
Reply #21 - Jun 20th, 2018 at 8:48pm
 
We have individual companies worth about $40 billion each. It's not a lot of money for a country. Do you even know if it is higher than what happens every year?
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.JaSin.
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Re: House price collapse already started !!
Reply #22 - Jun 20th, 2018 at 8:53pm
 
Setanta wrote on Jun 20th, 2018 at 7:15pm:
Unfortunately I only see that happening in the capitals and we don't live in one. My son is looking for a house and we are seeing 80 or more people through desirable properties and then bidding wars happen. I wonder how many of these people are escaping the cities, Brisbane and Sydney.




Yes - well said. What many people forget is that its just the 'cities' that will suffer the most, because such people think only the cities exist in the first place  Roll Eyes
Most people in the regional, rural and especially in the country areas will not be affected.

City people play by the sword of greed: too much people, too much money ...it eventually collapses under its own sheer weight of greed.

Yep - I'm roughly 8 hours between the 'Two Towers'. Wink
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Gordon
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Re: House price collapse already started !!
Reply #23 - Jun 20th, 2018 at 8:56pm
 
Bobby wrote on Jun 20th, 2018 at 8:19pm:
Gordon wrote on Jun 20th, 2018 at 8:13pm:
In some areas they do even worse.  Good unit in GOOD area, double on 10 years.



That's history now.
I think house prices will go down 20% over the next few years.
Units may do worse.


Did you sell? Don't stay out of the market for long otherwise prices will run away on you.
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Bobby
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Re: House price collapse already started !!
Reply #24 - Jun 20th, 2018 at 9:02pm
 
Gordon wrote on Jun 20th, 2018 at 8:56pm:
Bobby wrote on Jun 20th, 2018 at 8:19pm:
Gordon wrote on Jun 20th, 2018 at 8:13pm:
In some areas they do even worse.  Good unit in GOOD area, double on 10 years.



That's history now.
I think house prices will go down 20% over the next few years.
Units may do worse.


Did you sell? Don't stay out of the market for long otherwise prices will run away on you.



Yes - I sold & I'm waiting to buy again.
It seems the longer I wait the more money I'll be able to save.
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Extraordinary claims require extraordinary evidence.
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Bobby
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Re: House price collapse already started !!
Reply #25 - Jun 20th, 2018 at 9:04pm
 
freediver wrote on Jun 20th, 2018 at 8:48pm:
We have individual companies worth about $40 billion each. It's not a lot of money for a country. Do you even know if it is higher than what happens every year?


FD,
$360 billion is a lot of money.
If those people can't afford to pay interest plus principal they will have to sell.
That means a market with too much supply & too little demand.
What will happen to prices?
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Extraordinary claims require extraordinary evidence.
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Gordon
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Re: House price collapse already started !!
Reply #26 - Jun 20th, 2018 at 9:08pm
 
Bobby wrote on Jun 20th, 2018 at 9:04pm:
freediver wrote on Jun 20th, 2018 at 8:48pm:
We have individual companies worth about $40 billion each. It's not a lot of money for a country. Do you even know if it is higher than what happens every year?


FD,
$360 billion is a lot of money.
If those people can't afford to pay interest plus principal they will have to sell.
That means a market with too much supply & too little demand.
What will happen to prices?


A lot of people like you are waiting on the sidelines hoping to time the bottom.

When demand kicks back in it will firm up the market.

Don't wait more than 6 months  Smiley
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Re: House price collapse already started !!
Reply #27 - Jun 20th, 2018 at 9:10pm
 
Quote:
$360 billion is a lot of money.


Yes, that's what the journalist was going for. A scary statistic. No need to think any more.

If you saw an article about the billions of tonnes of our dirt getting shipped to China, would you fret that the country is going to disappear into the ocean?
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Bobby
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Re: House price collapse already started !!
Reply #28 - Jun 20th, 2018 at 9:13pm
 
Gordon wrote on Jun 20th, 2018 at 9:08pm:
Bobby wrote on Jun 20th, 2018 at 9:04pm:
freediver wrote on Jun 20th, 2018 at 8:48pm:
We have individual companies worth about $40 billion each. It's not a lot of money for a country. Do you even know if it is higher than what happens every year?


FD,
$360 billion is a lot of money.
If those people can't afford to pay interest plus principal they will have to sell.
That means a market with too much supply & too little demand.
What will happen to prices?


A lot of people like you are waiting on the sidelines hoping to time the bottom.

When demand kicks back in it will firm up the market.

Don't wait more than 6 months  Smiley



Good advice.
I am already checking out the market.
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Extraordinary claims require extraordinary evidence.
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Bobby
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Re: House price collapse already started !!
Reply #29 - Jun 20th, 2018 at 9:15pm
 
freediver wrote on Jun 20th, 2018 at 9:10pm:
Quote:
$360 billion is a lot of money.


Yes, that's what the journalist was going for. A scary statistic. No need to think any more.

If you saw an article about the billions of tonnes of our dirt getting shipped to China, would you fret that the country is going to disappear into the ocean?



Except that $360 billion is about 1/4 of or GDP.

What we dig out of the ground is what?

0.000000000000000000001% of out land mass?
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Extraordinary claims require extraordinary evidence.
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