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House price collapse already started !! (Read 19401 times)
Setanta
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Re: House price collapse already started !!
Reply #30 - Jun 20th, 2018 at 9:18pm
 
East Lismore is one of the better running parts of Lismore, flood free mostly.
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Setanta
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Re: House price collapse already started !!
Reply #31 - Jun 20th, 2018 at 9:22pm
 
Goonellabah which was once called Coonellabah is taking off with the selling off of state housing and new estates opening up, totally flood free. It's where all the really big houses get built now.

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freediver
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Re: House price collapse already started !!
Reply #32 - Jun 20th, 2018 at 9:22pm
 
Quote:
Except that $360 billion is about 1/4 of or GDP.


It's 1/4 of our annual GDP, but they don't have to pay it off in a year.

If your home loan was 1/4 of your annual income, would you be panicking? Your kids might if you told them how much money it was, but only because they cannot put it in perspective. That's what that journalist is doing. Scaring the kids with a number they cannot put in perspective.
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Bobby.
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Re: House price collapse already started !!
Reply #33 - Jun 20th, 2018 at 9:28pm
 
freediver wrote on Jun 20th, 2018 at 9:22pm:
Quote:
Except that $360 billion is about 1/4 of or GDP.


It's 1/4 of our annual GDP, but they don't have to pay it off in a year.

If your home loan was 1/4 of your annual income, would you be panicking? Your kids might if you told them how much money it was, but only because they cannot put it in perspective. That's what that journalist is doing. Scaring the kids with a number they cannot put in perspective.



dear FD,
watch and see what happens.
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Bobby.
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Re: House price collapse already started !!
Reply #34 - Jun 20th, 2018 at 9:30pm
 
Set,
I know for a fact that house prices are down more than 5% since Xmas 2017 in the East of Melbourne.
They are getting cheaper every month.
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Sir lastnail
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Re: House price collapse already started !!
Reply #35 - Jun 20th, 2018 at 9:34pm
 
Secret Wars wrote on Jun 20th, 2018 at 7:28pm:
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.


Well that's no good, Lastnail is relying on one so he can quit couch surfing.  Smiley


How about flipping houses to pay off our housing debt. Wealth creation at its finest 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 #36 - Jun 20th, 2018 at 9:37pm
 
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?


Then we should be able to pay off this housing debt very quickly right ?
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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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freediver
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Re: House price collapse already started !!
Reply #37 - Jun 20th, 2018 at 9:41pm
 
Sir lastnail wrote on Jun 20th, 2018 at 9:37pm:
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?


Then we should be able to pay off this housing debt very quickly right ?


Are you offering to help out? This is a dire situation nail. The country will fail without your support.
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Sir lastnail
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Re: House price collapse already started !!
Reply #38 - Jun 20th, 2018 at 10:24pm
 
freediver wrote on Jun 20th, 2018 at 9:41pm:
Sir lastnail wrote on Jun 20th, 2018 at 9:37pm:
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?


Then we should be able to pay off this housing debt very quickly right ?


Are you offering to help out? This is a dire situation nail. The country will fail without your support.


You can laugh FD but there are lots of parallels with what happened in Ireland after their bubble burst. And all of those tradies that had good jobs in the building sector in Ireland literally became unemployed overnight !!


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« Last Edit: Jun 20th, 2018 at 11:11pm 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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freediver
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Re: House price collapse already started !!
Reply #39 - Jun 21st, 2018 at 8:48pm
 
Sounds like you are trying to make a comparison nail. What are the parallels? A housing market? People with mortgages?
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Setanta
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Re: House price collapse already started !!
Reply #40 - Jun 21st, 2018 at 8:49pm
 
Bobby. wrote on Jun 20th, 2018 at 9:30pm:
Set,
I know for a fact that house prices are down more than 5% since Xmas 2017 in the East of Melbourne.
They are getting cheaper every month.


I believe I said it was probably only capital cities. They are the most inflated.
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Bobby.
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Re: House price collapse already started !!
Reply #41 - Jun 21st, 2018 at 8:52pm
 
Setanta wrote on Jun 21st, 2018 at 8:49pm:
Bobby. wrote on Jun 20th, 2018 at 9:30pm:
Set,
I know for a fact that house prices are down more than 5% since Xmas 2017 in the East of Melbourne.
They are getting cheaper every month.


I believe I said it was probably only capital cities. They are the most inflated.



Yes - some places went up 40% in the past 5 years.
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Sir lastnail
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Re: House price collapse already started !!
Reply #42 - Jun 21st, 2018 at 10:42pm
 
freediver wrote on Jun 21st, 2018 at 8:48pm:
Sounds like you are trying to make a comparison nail. What are the parallels? A housing market? People with mortgages?


Watch it and see or weep. Basically Ireland went from a productive export driven economy to an economy based on consumption, driven by low interest rates and cheap credit !! Pretty much the same conditions we now have in Australia !!

The similarities with Australia are uncanny and you cannot ignore it !! We have made the same mistake and did not learn from the GFC Sad




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« Last Edit: Jun 21st, 2018 at 10:51pm 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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Setanta
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Re: House price collapse already started !!
Reply #43 - Jun 21st, 2018 at 11:17pm
 
Ireland built whole estates, towns, expecting there to be people to fill them. Ireland was RE positive. We are still RE negative. City units are what will suffer most but fibros for 800K should also suffer.

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Sir lastnail
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Re: House price collapse already started !!
Reply #44 - Jun 21st, 2018 at 11:34pm
 
Setanta wrote on Jun 21st, 2018 at 11:17pm:
Ireland built whole estates, towns, expecting there to be people to fill them. Ireland was RE positive. We are still RE negative. City units are what will suffer most but fibros for 800K should also suffer.



We are building whole estates along with blocks of apartments springing up everywhere. We gave away all of our productive manufacturing capacity and replaced it with  services and making cups of coffee. Not only that governments are addicted to revenue from stamp duty and other property taxes ! Same deal in Ireland before it went pear shaped. ! We are just repeating history but nobody wants to admit it 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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