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House price collapse already started !! (Read 5273 times)
Sir lastnail
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House price collapse already started !!
Jun 20th, 2018 at 6:16pm
 
Thanks to the banking RC which has exposed the banks reckless lending practices means that the days of banks throwing obscene amounts of money at any old dump is well and truly over. The only direction for house prices to go now is down as the banks tighten up their lending practices and exposure to a housing collapse as buyers and investors exit the markets !

Quote:
House price debate goes from if they'll fall to by how much

There are few topics more contentious amongst economists, and at barbeques, than the direction of Australian home prices.

But 2018 has marked a dramatic shift in that discussion, at least amongst the economists and likely at the barbeques as well.

In the years between 2012 and 2017, most of the conversation centred on how high home prices could rise.

Late last year discussion heated up on whether they might fall.

Now that all the major indices are showing falling prices, with leading indicators like housing finance and auction clearance rates showing no signs of a bounce, 2018 has moved on to a discussion of how far house prices will fall.

The latest official Bureau of Statistics figures show residential property prices fell 0.7 per cent in the March quarter, led by the first quarterly price decline in Melbourne for five-and-a-half years and the first annual slide in Sydney in six years.

Nationally, property prices are still up 2 per cent on the March quarter last year but, judging by more current CoreLogic figures, this is likely to tip into declines within the next quarter or two....


http://www.abc.net.au/news/2018-06-19/house-price-falls-from-if-to-how-much/9886...



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Re: House price collapse already started !!
Reply #1 - Jun 20th, 2018 at 7:02pm
 
More from the ABC

http://www.abc.net.au/news/2018-06-19/fears-as-interest-only-loans-roll-into-pri...


Fears of housing 'fire sale' as interest-only loans roll into principal plus interest.

7.30
By Liz Hobday

Updated about 7 hours ago


As property prices in Australia have climbed over the past few years, thousands of Australians desperate to get a foothold on the property ladder have used interest-only loans.

But the interest-only period on these loans doesn't last forever.

Over the next three years, interest-only loans worth a combined total of about $360 billion will roll over to interest plus principal — and that means borrowers will face higher repayments.

"The kind of nightmare scenario is where a lot of people need to sell at once, and that's when you see a kind of fire sale mentality, and could see very significant downward pressure on prices," said Professor Richard Holden from the University of New South Wales Business School.

"That puts the banks under stress, and their balance sheets under stress, and it could lead to significant financial instability."
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Re: House price collapse already started !!
Reply #2 - Jun 20th, 2018 at 7:06pm
 
Bobby wrote on Jun 20th, 2018 at 7:02pm:
More from the ABC

http://www.abc.net.au/news/2018-06-19/fears-as-interest-only-loans-roll-into-pri...


Fears of housing 'fire sale' as interest-only loans roll into principal plus interest.

7.30
By Liz Hobday

Updated about 7 hours ago


As property prices in Australia have climbed over the past few years, thousands of Australians desperate to get a foothold on the property ladder have used interest-only loans.

But the interest-only period on these loans doesn't last forever.

Over the next three years, interest-only loans worth a combined total of about $360 billion will roll over to interest plus principal — and that means borrowers will face higher repayments.

"The kind of nightmare scenario is where a lot of people need to sell at once, and that's when you see a kind of fire sale mentality, and could see very significant downward pressure on prices," said Professor Richard Holden from the University of New South Wales Business School.

"That puts the banks under stress, and their balance sheets under stress, and it could lead to significant financial instability."


How was this allowed to happen ?

No wonder mal and co was totally against the RC for fear of spooking the markets. Lets see if the "supply and demand" bullshit they go on about here can stop house prices from collapsing Cheesy LOL
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Re: House price collapse already started !!
Reply #3 - Jun 20th, 2018 at 7:09pm
 
Hi Nail,

interest-only loans worth a combined total of about $360 billion.


There should be questions in parliament -

it's a scandal.
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Re: House price collapse already started !!
Reply #4 - Jun 20th, 2018 at 7:12pm
 
And this !!

Quote:
Six months ago Professor Holden said there was a risk the Australian housing market could face a US-style meltdown, and he maintains there is a risk that downward pressure on prices could lead to financial instability.


Idiot aussies never learned anything from the GFC and just kept inflating the bubble when the rest of the world was doing the complete opposite !!
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Re: House price collapse already started !!
Reply #5 - 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.


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Re: House price collapse already started !!
Reply #6 - 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.
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Re: House price collapse already started !!
Reply #7 - Jun 20th, 2018 at 7:25pm
 
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.




The contagion will spread once the cheap line of credit dries up !! You can have all of the aspirational demand that you want but without the credit to pay for it means nothing !
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Re: House price collapse already started !!
Reply #8 - Jun 20th, 2018 at 7:26pm
 
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.




I had a good hard look at moving to the Goldie, even phoned a few agents and they said they get at least as many inquiries from Sydney buyers as local.
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Re: House price collapse already started !!
Reply #9 - 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

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Re: House price collapse already started !!
Reply #10 - 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
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Re: House price collapse already started !!
Reply #11 - 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.
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Re: House price collapse already started !!
Reply #12 - Jun 20th, 2018 at 7:33pm
 
Sir lastnail wrote on Jun 20th, 2018 at 7:25pm:
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.




The contagion will spread once the cheap line of credit dries up !! You can have all of the aspirational demand that you want but without the credit to pay for it means nothing !


You don't need to do interest only loans here. A really nice house is not 2 million.
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Re: House price collapse already started !!
Reply #13 - 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?
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Re: House price collapse already started !!
Reply #14 - 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.
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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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 »  

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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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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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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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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 »  

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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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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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Re: House price collapse already started !!
Reply #45 - Jun 21st, 2018 at 11:53pm
 
Sir lastnail wrote on 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


Not where I live. Hence my statements re capitals. I don't give a shyte about the capitals to be honest. I will never live in one again and I could not give a toss about their probs bar we get the cashed up bogan overflow. Mostly arsewipes that have no idea of the local culture and seem to want to impress their shyte here on us. Why can't we all just get along?  Grin

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Re: House price collapse already started !!
Reply #46 - Jun 22nd, 2018 at 12:01am
 
Bobby, here's a home for you.
https://www.allhomes.com.au/ah/nsw/sale-residential/34-beardow-street-lismore-he...

My wife loves it, steal her heart. Damned hippy chick she is.

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Re: House price collapse already started !!
Reply #47 - Jun 22nd, 2018 at 7:23am
 
Setanta wrote on Jun 22nd, 2018 at 12:01am:
Bobby, here's a home for you.
https://www.allhomes.com.au/ah/nsw/sale-residential/34-beardow-street-lismore-he...

My wife loves it, steal her heart. Damned hippy chick she is.




Looks good but as I found out -
a house that's no where near your job is
as useless as tits on a bull.
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Re: House price collapse already started !!
Reply #48 - Jun 22nd, 2018 at 8:31am
 
Sir lastnail wrote on 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



Ireland also had high and rising unemployment and very little government spending because they'd slashed their company tax base to something like 12%. Ireland was in effect considered a tax haven.

Australia isn't in recession, and infrastructure spending is in a boom. We also have the largest numbers of millionaires migrating here in outright numbers, let alone per capita.

So property will drop and it might even drop by 20% or so, but there will be no bust and in 5 years time prices will be climbing again.
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Re: House price collapse already started !!
Reply #49 - Jun 22nd, 2018 at 8:43am
 
Sir lastnail wrote on 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 !!



Not really. Ireland dropped their corporate tax rate and poured subsidies into high tech industry to try and entice companies to set up shop there.

It worked until the GFC meant that some companies pulled out or wound back their operations. This killed the tax base, which in turn meant subsidies dried up, leading to an exodus.

Add to that - Irish wages had shot up, making them uncompetitive with cheaper countries like China, so companies moved operations offshore.

As for Irish property, the bust didn't last long.

...


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Re: House price collapse already started !!
Reply #50 - Jun 22nd, 2018 at 10:03am
 
Setanta wrote on Jun 22nd, 2018 at 12:01am:
Bobby, here's a home for you.
https://www.allhomes.com.au/ah/nsw/sale-residential/34-beardow-street-lismore-he...

My wife loves it, steal her heart. Damned hippy chick she is.



Cute, and Lismore seems to have good rental returns and good capital growth.

BTW,  Beard Ow Street Smiley
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Re: House price collapse already started !!
Reply #51 - Jun 22nd, 2018 at 11:09am
 
Stig wrote on Jun 22nd, 2018 at 8:43am:
Sir lastnail wrote on 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 !!



Not really. Ireland dropped their corporate tax rate and poured subsidies into high tech industry to try and entice companies to set up shop there.

It worked until the GFC meant that some companies pulled out or wound back their operations. This killed the tax base, which in turn meant subsidies dried up, leading to an exodus.

Add to that - Irish wages had shot up, making them uncompetitive with cheaper countries like China, so companies moved operations offshore.

As for Irish property, the bust didn't last long.

https://cdn-01.independent.ie/incoming/article36806148.ece/f3a68/AUTOCROP/w620/P...




Well you could say the same about Australia when we allowed all of these foreign pirates to come here and steal our wealth out of the ground and then a property boom followed it !! Now we have got nothing to show for it Sad

Almost identical scenario to Ireland !!



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Re: House price collapse already started !!
Reply #52 - Jun 22nd, 2018 at 11:11am
 
Bobby wrote on Jun 22nd, 2018 at 7:23am:
Setanta wrote on Jun 22nd, 2018 at 12:01am:
Bobby, here's a home for you.
https://www.allhomes.com.au/ah/nsw/sale-residential/34-beardow-street-lismore-he...

My wife loves it, steal her heart. Damned hippy chick she is.




Looks good but as I found out -
a house that's no where near your job is
as useless as tits on a bull.


these days access to cheap credit has replaced the income from a proper job !
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Re: House price collapse already started !!
Reply #53 - Jun 22nd, 2018 at 11:17am
 
Sir lastnail wrote on Jun 22nd, 2018 at 11:09am:
Stig wrote on Jun 22nd, 2018 at 8:43am:
Sir lastnail wrote on 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 !!



Not really. Ireland dropped their corporate tax rate and poured subsidies into high tech industry to try and entice companies to set up shop there.

It worked until the GFC meant that some companies pulled out or wound back their operations. This killed the tax base, which in turn meant subsidies dried up, leading to an exodus.

Add to that - Irish wages had shot up, making them uncompetitive with cheaper countries like China, so companies moved operations offshore.

As for Irish property, the bust didn't last long.

https://cdn-01.independent.ie/incoming/article36806148.ece/f3a68/AUTOCROP/w620/P...




Well you could say the same about Australia when we allowed all of these foreign pirates to come here and steal our wealth out of the ground and then a property boom followed it !! Now we have got nothing to show for it Sad

Almost identical scenario to Ireland !!



No wonder everyone thinks you are a fool, you have just been shown it is a completely different scenario to Ireland which did not have a resources boom but borrowed on the hope of a technological boom and their property market has shot back up.
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Re: House price collapse already started !!
Reply #54 - Jun 22nd, 2018 at 12:26pm
 
Sir lastnail wrote on Jun 22nd, 2018 at 11:09am:
Stig wrote on Jun 22nd, 2018 at 8:43am:
Sir lastnail wrote on 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 !!



Not really. Ireland dropped their corporate tax rate and poured subsidies into high tech industry to try and entice companies to set up shop there.

It worked until the GFC meant that some companies pulled out or wound back their operations. This killed the tax base, which in turn meant subsidies dried up, leading to an exodus.

Add to that - Irish wages had shot up, making them uncompetitive with cheaper countries like China, so companies moved operations offshore.

As for Irish property, the bust didn't last long.

https://cdn-01.independent.ie/incoming/article36806148.ece/f3a68/AUTOCROP/w620/P...




Well you could say the same about Australia when we allowed all of these foreign pirates to come here and steal our wealth out of the ground and then a property boom followed it !! Now we have got nothing to show for it Sad

Almost identical scenario to Ireland !!


Nothing like it, actually.

Here's an interesting stat for you.

Ireland ENTIRE infrastructure spend - the whole country's worth of roads, rail, airports, power gen is roughly equivalent to what the NSW government is paying for a single road project (Westconnex).

The infrastructure spend of Australia is currently equivalent to that of Germany, only slightly behind that of France or the UK, and almost half a trillion dollars more than Russia.

That is a big part of the reason why there will be no Irish recession here.
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Re: House price collapse already started !!
Reply #55 - Jun 22nd, 2018 at 3:02pm
 
Sir lastnail wrote on 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






Can you put it in your own words, or do you not understand it?
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Re: House price collapse already started !!
Reply #56 - Jun 22nd, 2018 at 3:29pm
 
Housing Prices, are set to go Lower, for similar reasons to the Global Economy in general -
1) Population
2) Energy
3) Climate Change
4) Debt
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Re: House price collapse already started !!
Reply #57 - Jun 23rd, 2018 at 3:43pm
 
Sydney is predicted to drop 10% in the future

About time

Who in their right minds would pay over a million dollars for a hundred year old fibro craphouse fit only for shovelling
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Re: House price collapse already started !!
Reply #58 - Jun 23rd, 2018 at 4:25pm
 
red baron wrote on Jun 23rd, 2018 at 3:43pm:
Sydney is predicted to drop 10% in the future

About time

Who in their right minds would pay over a million dollars for a hundred year old fibro craphouse fit only for shovelling



I predict a 20% drop for Melbourne.
There are old fibro dumps there too, going for over $1 million.
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Re: House price collapse already started !!
Reply #59 - Jun 25th, 2018 at 8:47am
 
Bobby wrote on Jun 23rd, 2018 at 4:25pm:
red baron wrote on Jun 23rd, 2018 at 3:43pm:
Sydney is predicted to drop 10% in the future

About time

Who in their right minds would pay over a million dollars for a hundred year old fibro craphouse fit only for shovelling



I predict a 20% drop for Melbourne.
There are old fibro dumps there too, going for over $1 million.


The "fibro dump" isn't worth a cent. The land, however is worth a lot.
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Re: House price collapse already started !!
Reply #60 - Jun 25th, 2018 at 9:06am
 
Needs to go down more than 10% IMO

Spot
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Re: House price collapse already started !!
Reply #61 - Jun 25th, 2018 at 9:17am
 
When I predicted this some time  I got a few slapdowns...Nice to be vindicated
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Re: House price collapse already started !!
Reply #62 - Jun 25th, 2018 at 9:40am
 
red baron wrote on Jun 25th, 2018 at 9:17am:
When I predicted this some time  I got a few slapdowns...Nice to be vindicated


The % of price drops are reported as one figure and very misleading.  The biggest falls are being experienced by new apartment blocks where there is oversupply or outter ring properties.

Good quality property in inner ring suburbs have hardly budged.  Some price points have dropped a bit while some are still going way above reserve.


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Re: House price collapse already started !!
Reply #63 - Jun 30th, 2018 at 3:09pm
 

http://www.abc.net.au/news/2018-06-30/melbourne-falling-unit-prices/9918452


The median price for a unit in Elwood dropped by 16.9 per cent in the March quarter, according to the Real Estate Institute of Victoria (REIV).

In nearby Prahran and Port Melbourne, falls of more than 18 per cent were recorded, and unit prices also dropped in St Kilda East (-15.5 per cent), Carnegie (-12.3 per cent), Southbank (-9.3 per cent) and South Yarra (-7.9 per cent).
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Re: House price collapse already started !!
Reply #64 - Jun 30th, 2018 at 3:10pm
 
Bobby wrote on Jun 30th, 2018 at 3:09pm:
http://www.abc.net.au/news/2018-06-30/melbourne-falling-unit-prices/9918452


The median price for a unit in Elwood dropped by 16.9 per cent in the March quarter, according to the Real Estate Institute of Victoria (REIV).

In nearby Prahran and Port Melbourne, falls of more than 18 per cent were recorded, and unit prices also dropped in St Kilda East (-15.5 per cent), Carnegie (-12.3 per cent), Southbank (-9.3 per cent) and South Yarra (-7.9 per cent).


Who'd want to live in MelBoring anyway Wink
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Re: House price collapse already started !!
Reply #65 - Jun 30th, 2018 at 3:13pm
 
Gordon wrote on Jun 30th, 2018 at 3:10pm:
Bobby wrote on Jun 30th, 2018 at 3:09pm:
http://www.abc.net.au/news/2018-06-30/melbourne-falling-unit-prices/9918452


The median price for a unit in Elwood dropped by 16.9 per cent in the March quarter, according to the Real Estate Institute of Victoria (REIV).

In nearby Prahran and Port Melbourne, falls of more than 18 per cent were recorded, and unit prices also dropped in St Kilda East (-15.5 per cent), Carnegie (-12.3 per cent), Southbank (-9.3 per cent) and South Yarra (-7.9 per cent).


Who'd want to live in MelBoring anyway Wink



I don't live there anymore -
too much traffic -
all the roads are car parks in the morning and evening rush hours.
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Re: House price collapse already started !!
Reply #66 - Jun 30th, 2018 at 3:27pm
 
Bobby wrote on Jun 30th, 2018 at 3:13pm:
Gordon wrote on Jun 30th, 2018 at 3:10pm:
Bobby wrote on Jun 30th, 2018 at 3:09pm:
http://www.abc.net.au/news/2018-06-30/melbourne-falling-unit-prices/9918452


The median price for a unit in Elwood dropped by 16.9 per cent in the March quarter, according to the Real Estate Institute of Victoria (REIV).

In nearby Prahran and Port Melbourne, falls of more than 18 per cent were recorded, and unit prices also dropped in St Kilda East (-15.5 per cent), Carnegie (-12.3 per cent), Southbank (-9.3 per cent) and South Yarra (-7.9 per cent).


Who'd want to live in MelBoring anyway Wink



I don't live there anymore -
too much traffic -
all the roads are car parks in the morning and evening rush hours.


I have no idea how anyone could live in Melbourne. Too cold, no surf and flat. I hate flat cities!!
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Re: House price collapse already started !!
Reply #67 - Jun 30th, 2018 at 3:27pm
 
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.


You hang onto that Harris Park toilet block of yours, Gordon.

We grew here.
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Re: House price collapse already started !!
Reply #68 - Jun 30th, 2018 at 3:29pm
 
Karnal wrote on Jun 30th, 2018 at 3:27pm:
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.


You hang onto that Harris Park toilet block of yours, Gordon.

We grew here.


I blew here.
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Re: House price collapse already started !!
Reply #69 - Jun 30th, 2018 at 3:30pm
 
Gordon wrote on Jun 30th, 2018 at 3:29pm:
Karnal wrote on Jun 30th, 2018 at 3:27pm:
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.


You hang onto that Harris Park toilet block of yours, Gordon.

We grew here.


I blew here.


Goddamned right.
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Re: House price collapse already started !!
Reply #70 - Jun 30th, 2018 at 3:35pm
 
Karnal wrote on Jun 30th, 2018 at 3:30pm:
Gordon wrote on Jun 30th, 2018 at 3:29pm:
Karnal wrote on Jun 30th, 2018 at 3:27pm:
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.


You hang onto that Harris Park toilet block of yours, Gordon.

We grew here.


I blew here.


Goddamned right.


I think it's a disgrace that the RSL has allowed a decorated Vet as yourself to live in such squalid conditions.

https://www.domain.com.au/news/derelict-home-in-granville-for-sale-with-rubbish-...
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Re: House price collapse already started !!
Reply #71 - Jun 30th, 2018 at 4:11pm
 
Gordon wrote on Jun 30th, 2018 at 3:35pm:
Karnal wrote on Jun 30th, 2018 at 3:30pm:
Gordon wrote on Jun 30th, 2018 at 3:29pm:
Karnal wrote on Jun 30th, 2018 at 3:27pm:
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.


You hang onto that Harris Park toilet block of yours, Gordon.

We grew here.


I blew here.


Goddamned right.


I think it's a disgrace that the RSL has allowed a decorated Vet as yourself to live in such squalid conditions.

https://www.domain.com.au/news/derelict-home-in-granville-for-sale-with-rubbish-...


Fck the RSL. Looking for more quality properties are you, son?
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Re: House price collapse already started !!
Reply #72 - Jun 30th, 2018 at 4:11pm
 
Gordon wrote on Jun 30th, 2018 at 3:27pm:
Bobby wrote on Jun 30th, 2018 at 3:13pm:
Gordon wrote on Jun 30th, 2018 at 3:10pm:
Bobby wrote on Jun 30th, 2018 at 3:09pm:
http://www.abc.net.au/news/2018-06-30/melbourne-falling-unit-prices/9918452


The median price for a unit in Elwood dropped by 16.9 per cent in the March quarter, according to the Real Estate Institute of Victoria (REIV).

In nearby Prahran and Port Melbourne, falls of more than 18 per cent were recorded, and unit prices also dropped in St Kilda East (-15.5 per cent), Carnegie (-12.3 per cent), Southbank (-9.3 per cent) and South Yarra (-7.9 per cent).


Who'd want to live in MelBoring anyway Wink



I don't live there anymore -
too much traffic -
all the roads are car parks in the morning and evening rush hours.


I have no idea how anyone could live in Melbourne. Too cold, no surf and flat. I hate flat cities!!



What about Surrey Hills, Endeavour hills, Wheelers Hill, & Mount Waverly?
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Re: House price collapse already started !!
Reply #73 - Jun 30th, 2018 at 6:16pm
 
Bobby wrote on Jun 20th, 2018 at 7:02pm:
More from the ABC

http://www.abc.net.au/news/2018-06-19/fears-as-interest-only-loans-roll-into-pri...


Fears of housing 'fire sale' as interest-only loans roll into principal plus interest.

7.30
By Liz Hobday

Updated about 7 hours ago


As property prices in Australia have climbed over the past few years, thousands of Australians desperate to get a foothold on the property ladder have used interest-only loans.

But the interest-only period on these loans doesn't last forever.

Over the next three years, interest-only loans worth a combined total of about $360 billion will roll over to interest plus principal — and that means borrowers will face higher repayments.

"The kind of nightmare scenario is where a lot of people need to sell at once, and that's when you see a kind of fire sale mentality, and could see very significant downward pressure on prices," said Professor Richard Holden from the University of New South Wales Business School.

"That puts the banks under stress, and their balance sheets under stress, and it could lead to significant financial instability."



The 250,000 + immigrants a year will snap 'em up.
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Re: House price collapse already started !!
Reply #74 - Jun 30th, 2018 at 6:33pm
 
Frank wrote on Jun 30th, 2018 at 6:16pm:
Bobby wrote on Jun 20th, 2018 at 7:02pm:
More from the ABC

http://www.abc.net.au/news/2018-06-19/fears-as-interest-only-loans-roll-into-pri...


Fears of housing 'fire sale' as interest-only loans roll into principal plus interest.

7.30
By Liz Hobday

Updated about 7 hours ago


As property prices in Australia have climbed over the past few years, thousands of Australians desperate to get a foothold on the property ladder have used interest-only loans.

But the interest-only period on these loans doesn't last forever.

Over the next three years, interest-only loans worth a combined total of about $360 billion will roll over to interest plus principal — and that means borrowers will face higher repayments.

"The kind of nightmare scenario is where a lot of people need to sell at once, and that's when you see a kind of fire sale mentality, and could see very significant downward pressure on prices," said Professor Richard Holden from the University of New South Wales Business School.

"That puts the banks under stress, and their balance sheets under stress, and it could lead to significant financial instability."



The 250,000 + immigrants a year will snap 'em up.


Yes, there is still demand, and for owner occupiers they would rather sit around a candle eating dog food before they will sell at a loss.

The apartment market is another thing especially for off the plan where investors tend to cut losses early.
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Re: House price collapse already started !!
Reply #75 - Jun 30th, 2018 at 6:35pm
 
Secret Wars wrote on Jun 30th, 2018 at 6:33pm:
Yes, there is still demand, and for owner occupiers they would rather sit around a candle eating dog food before they will sell at a loss.

The apartment market is another thing especially for off the plan where investors tend to cut losses early.


But we've never seen drops like this in only 3 months!



The median price for a unit in Elwood dropped by 16.9 per cent in the March quarter, according to the Real Estate Institute of Victoria (REIV).

In nearby Prahran and Port Melbourne, falls of more than 18 per cent were recorded, and unit prices also dropped in St Kilda East (-15.5 per cent), Carnegie (-12.3 per cent), Southbank (-9.3 per cent) and South Yarra (-7.9 per cent).
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Re: House price collapse already started !!
Reply #76 - Jun 30th, 2018 at 7:13pm
 
Frank wrote on Jun 30th, 2018 at 6:16pm:
Bobby wrote on Jun 20th, 2018 at 7:02pm:
More from the ABC

http://www.abc.net.au/news/2018-06-19/fears-as-interest-only-loans-roll-into-pri...


Fears of housing 'fire sale' as interest-only loans roll into principal plus interest.

7.30
By Liz Hobday

Updated about 7 hours ago


As property prices in Australia have climbed over the past few years, thousands of Australians desperate to get a foothold on the property ladder have used interest-only loans.

But the interest-only period on these loans doesn't last forever.

Over the next three years, interest-only loans worth a combined total of about $360 billion will roll over to interest plus principal — and that means borrowers will face higher repayments.

"The kind of nightmare scenario is where a lot of people need to sell at once, and that's when you see a kind of fire sale mentality, and could see very significant downward pressure on prices," said Professor Richard Holden from the University of New South Wales Business School.

"That puts the banks under stress, and their balance sheets under stress, and it could lead to significant financial instability."



The 250,000 + immigrants a year will snap 'em up.


I say, dear, boy, how many of your rellos are blowing in from the old country?

Gordon has the right idea. Buy up the toilet blocks in the shtty immigrant suburbs.

There's good money in stool, nein?
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Re: House price collapse already started !!
Reply #77 - Jul 1st, 2018 at 12:01am
 
Secret Wars wrote on Jun 30th, 2018 at 6:33pm:
Frank wrote on Jun 30th, 2018 at 6:16pm:
Bobby wrote on Jun 20th, 2018 at 7:02pm:
More from the ABC

http://www.abc.net.au/news/2018-06-19/fears-as-interest-only-loans-roll-into-pri...


Fears of housing 'fire sale' as interest-only loans roll into principal plus interest.

7.30
By Liz Hobday

Updated about 7 hours ago


As property prices in Australia have climbed over the past few years, thousands of Australians desperate to get a foothold on the property ladder have used interest-only loans.

But the interest-only period on these loans doesn't last forever.

Over the next three years, interest-only loans worth a combined total of about $360 billion will roll over to interest plus principal — and that means borrowers will face higher repayments.

"The kind of nightmare scenario is where a lot of people need to sell at once, and that's when you see a kind of fire sale mentality, and could see very significant downward pressure on prices," said Professor Richard Holden from the University of New South Wales Business School.

"That puts the banks under stress, and their balance sheets under stress, and it could lead to significant financial instability."



The 250,000 + immigrants a year will snap 'em up.


Yes, there is still demand, and for owner occupiers they would rather sit around a candle eating dog food before they will sell at a loss.

The apartment market is another thing especially for off the plan where investors tend to cut losses early.


you can have all of the demand you want but if they can't get access to the cheap line of credit to pay for it then the demand is all academic ! That's how Ireland's property bubble burst. The banks either went broke or couldn't lend anymore at the ridiculously low rates they had been lending ! We didn't learn from Ireland's mistakes so now it's our turn. This won't be pretty and will have spill-on effects throughout the whole economy as we do not have a back-up plan Sad

Watch it and weep. It serves you lot right from not learning from the mistakes of the past !!




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Re: House price collapse already started !!
Reply #78 - Jul 1st, 2018 at 7:22am
 
Bobby wrote on Jun 30th, 2018 at 6:35pm:
Secret Wars wrote on Jun 30th, 2018 at 6:33pm:
Yes, there is still demand, and for owner occupiers they would rather sit around a candle eating dog food before they will sell at a loss.

The apartment market is another thing especially for off the plan where investors tend to cut losses early.


But we've never seen drops like this in only 3 months!



The median price for a unit in Elwood dropped by 16.9 per cent in the March quarter, according to the Real Estate Institute of Victoria (REIV).

In nearby Prahran and Port Melbourne, falls of more than 18 per cent were recorded, and unit prices also dropped in St Kilda East (-15.5 per cent), Carnegie (-12.3 per cent), Southbank (-9.3 per cent) and South Yarra (-7.9 per cent).


How do you know that Bobby?
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Re: House price collapse already started !!
Reply #79 - Jul 1st, 2018 at 8:04am
 
freediver wrote on Jul 1st, 2018 at 7:22am:
How do you know that Bobby?



I've been following the Melbourne market for over 20 years.
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Re: House price collapse already started !!
Reply #80 - Jul 1st, 2018 at 11:55am
 
Bobby wrote on Jul 1st, 2018 at 8:04am:
freediver wrote on Jul 1st, 2018 at 7:22am:
How do you know that Bobby?



I've been following the Melbourne market for over 20 years.


We would have seen them drop during the GFC. I know I saw  houses for sale and vacant blocks of land around where I used to live and no action for 6 months or more until stupid Kevin Dudd kicked the can down the road and gave banks gov guarantee of depositors money, triple first home buyers scam, letting all of the chinese to come here and buy up the joint and then the bubble started to inflate again. And each time prices started to head south the gov of the day would step in and kick the can down the road with some hare brained scheme !
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Re: House price collapse already started !!
Reply #81 - Jul 1st, 2018 at 1:13pm
 
Bobby wrote on Jul 1st, 2018 at 8:04am:
freediver wrote on Jul 1st, 2018 at 7:22am:
How do you know that Bobby?



I've been following the Melbourne market for over 20 years.


What was the previous biggest drop from all suburbs and market sectors in the last 20 years?
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Re: House price collapse already started !!
Reply #82 - Jul 1st, 2018 at 7:03pm
 
Wonder what will happen to all of those brain-dead mind-numbing house renovation shows on TV ?

Hey look at me. I can use a power tool that's made in China Cheesy LOL
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Re: House price collapse already started !!
Reply #83 - Jul 2nd, 2018 at 4:52pm
 
freediver wrote on Jul 1st, 2018 at 1:13pm:
Bobby wrote on Jul 1st, 2018 at 8:04am:
freediver wrote on Jul 1st, 2018 at 7:22am:
How do you know that Bobby?



I've been following the Melbourne market for over 20 years.


What was the previous biggest drop from all suburbs and market sectors in the last 20 years?



I'm not sure.
I'm sorry I can't seen to find a graph of the last 20 years
up to say June 2018.
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Re: House price collapse already started !!
Reply #84 - Jul 2nd, 2018 at 9:20pm
 
Bobby wrote on Jul 2nd, 2018 at 4:52pm:
freediver wrote on Jul 1st, 2018 at 1:13pm:
Bobby wrote on Jul 1st, 2018 at 8:04am:
freediver wrote on Jul 1st, 2018 at 7:22am:
How do you know that Bobby?



I've been following the Melbourne market for over 20 years.


What was the previous biggest drop from all suburbs and market sectors in the last 20 years?



I'm not sure.
I'm sorry I can't seen to find a graph of the last 20 years
up to say June 2018.


That would be a lot of lines to put on one graph. You'd need a few thousands graphs, at least.

In other words, you don't have a clue. You cannot even put what you read into context.
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Re: House price collapse already started !!
Reply #85 - Jul 2nd, 2018 at 9:23pm
 
freediver wrote on Jul 2nd, 2018 at 9:20pm:
Bobby wrote on Jul 2nd, 2018 at 4:52pm:
freediver wrote on Jul 1st, 2018 at 1:13pm:
Bobby wrote on Jul 1st, 2018 at 8:04am:
freediver wrote on Jul 1st, 2018 at 7:22am:
How do you know that Bobby?



I've been following the Melbourne market for over 20 years.


What was the previous biggest drop from all suburbs and market sectors in the last 20 years?



I'm not sure.
I'm sorry I can't seen to find a graph of the last 20 years
up to say June 2018.


That would be a lot of lines to put on one graph. You'd need a few thousands graphs, at least.

In other words, you don't have a clue. You cannot even put what you read into context.



You'll just have to reply on my local expert knowledge.

Actually - I am wrong.
The last major drop was in the year 2000.
That's 18 years ago.
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Re: House price collapse already started !!
Reply #86 - Jul 2nd, 2018 at 9:26pm
 
Bobby wrote on Jul 2nd, 2018 at 9:23pm:
freediver wrote on Jul 2nd, 2018 at 9:20pm:
Bobby wrote on Jul 2nd, 2018 at 4:52pm:
freediver wrote on Jul 1st, 2018 at 1:13pm:
Bobby wrote on Jul 1st, 2018 at 8:04am:
freediver wrote on Jul 1st, 2018 at 7:22am:
How do you know that Bobby?



I've been following the Melbourne market for over 20 years.


What was the previous biggest drop from all suburbs and market sectors in the last 20 years?



I'm not sure.
I'm sorry I can't seen to find a graph of the last 20 years
up to say June 2018.


That would be a lot of lines to put on one graph. You'd need a few thousands graphs, at least.

In other words, you don't have a clue. You cannot even put what you read into context.



You'll just have to reply on my local expert knowledge.

Actually - I am wrong.
The last major drop was in the year 2000.
That's 18 years ago.


So again you are using your own ignorance of the history of the housing market as evidence that you are correct?
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Re: House price collapse already started !!
Reply #87 - 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.
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Re: House price collapse already started !!
Reply #88 - Jul 2nd, 2018 at 9:43pm
 
freediver wrote on Jul 2nd, 2018 at 9:20pm:
Bobby wrote on Jul 2nd, 2018 at 4:52pm:
freediver wrote on Jul 1st, 2018 at 1:13pm:
Bobby wrote on Jul 1st, 2018 at 8:04am:
freediver wrote on Jul 1st, 2018 at 7:22am:
How do you know that Bobby?



I've been following the Melbourne market for over 20 years.


What was the previous biggest drop from all suburbs and market sectors in the last 20 years?



I'm not sure.
I'm sorry I can't seen to find a graph of the last 20 years
up to say June 2018.


That would be a lot of lines to put on one graph. You'd need a few thousands graphs, at least.

In other words, you don't have a clue. You cannot even put what you read into context.


Where do you live, FD? I'm curious.

Do you own or rent? Rural or suburban? Where?
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Re: House price collapse already started !!
Reply #89 - Jul 2nd, 2018 at 9:44pm
 
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.


The falls are on the basis of fairly low volumes. It's not carnage out there,  don't panick yet
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Re: House price collapse already started !!
Reply #90 - 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.
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Re: House price collapse already started !!
Reply #91 - Jul 2nd, 2018 at 10:00pm
 
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.



No - it just shows that an effective graph cannot be found.
In this case we reply upon expert knowledge.
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Re: House price collapse already started !!
Reply #92 - Jul 2nd, 2018 at 10:07pm
 
The fact that you think one graphs is all it would take just proves you do not even know where to begin informing yourself.
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Re: House price collapse already started !!
Reply #93 - Jul 2nd, 2018 at 10:11pm
 

The fit will really hit the shan if interest rates hit the double digits as they they did 30 years ago. House prices will be meaningless.

Anyone here remember 17% interest rates?
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Re: House price collapse already started !!
Reply #94 - Jul 3rd, 2018 at 12:04am
 
Property prices have fallen for 9 straight months is what I just heard on news radio Wink

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Re: House price collapse already started !!
Reply #95 - 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 ??
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Re: House price collapse already started !!
Reply #96 - Jul 3rd, 2018 at 11:54am
 
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 ??


Really?

How long until I can buy a house in Sydney for $400k again

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« Last Edit: Jul 3rd, 2018 at 7:12pm by Stig »  
 
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Re: House price collapse already started !!
Reply #97 - Jul 3rd, 2018 at 12:11pm
 
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 have not seen them, but you have not been looking. You do not even know where to look. Living somewhere is not the same thing as knowing what is going on.
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Re: House price collapse already started !!
Reply #98 - Jul 3rd, 2018 at 2:52pm
 
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?


You're a brilliant devils advocate and people need to consider these things when reading scary headlines.....however, the stats show a larger portion of loans are being forced onto P+I because of the new restrictions forced on the banks around the proportion of loans that are allowed to be Interest Only among other controls. So it's not fairy tail, at a time when mortgage stress has hit 30% (peak of the GFC was 20%) banks are being forced to put people into structures a lot of them can't afford.

Anecdotally though as well, everything I have heard from the banks and their brokers is that the lending gate are all but shut, tighter than a ***** ******** **** and that refinances and investment loans are being forced onto P+I.
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Re: House price collapse already started !!
Reply #99 - Jul 3rd, 2018 at 4:55pm
 
freediver wrote on Jul 3rd, 2018 at 12:11pm:
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 have not seen them, but you have not been looking. You do not even know where to look. Living somewhere is not the same thing as knowing what is going on.


So you doubt my expert witness testimony?
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Re: House price collapse already started !!
Reply #100 - Jul 3rd, 2018 at 6:48pm
 
Bobby wrote on Jul 3rd, 2018 at 4:55pm:
freediver wrote on Jul 3rd, 2018 at 12:11pm:
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 have not seen them, but you have not been looking. You do not even know where to look. Living somewhere is not the same thing as knowing what is going on.


So you doubt my expert witness testimony?


I believe you don't walk around with your eyes shut. That is not the same as knowing what you are talking about.
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Re: House price collapse already started !!
Reply #101 - Jul 6th, 2018 at 11:43am
 
Check it out. The RC into banks has pricked the bubble Wink

https://www.realestate.com.au/news/fall-in-housing-prices-will-be-quite-a-bit-la...

Quote:
Fall in housing prices will be ‘quite a bit larger than expected’

ONE of Australia’s biggest banks has backflipped on a previous prediction that housing prices were going to pick up.

In a research note published yesterday, ANZ Bank has warned the steady decline in the country’s housing prices wasn’t only going to keep dropping, the pace of the decline was also going to pick up.

ANZ senior economist Daniel Gradwell said the “weakness in Australia’s housing market has persisted longer than we expected, and the rate of decline in prices has recently accelerated”.

Mr Gradwell attributed a number of things to the fall in housing prices, including the shift away from interest only loans and tightening on credit in the wake of the royal commission.

Those changes in customer behaviour suggests “the fall in house prices will be quite a bit larger than we previously expected, with recovery coming later,” Mr Gradwell said.

In the past 10 months, nine of those have seen lower housing prices, according to CoreLogic data.

Canberra is one of the only capital cities that has a housing market that isn’t in a state of downturn. Picture: Lukas Coch

Across some of the capital cities, Sydney has seen some of the worst price drops.

In July 2017, houses in Sydney were selling for 4.2 per cent more than they are now.

And while Melbourne initially fought the slump in housing prices, the Victorian capital has now seen worse price falls than Sydney in the past three months.

But it isn’t all bad news across Australia — homes in Canberra and Hobart are selling for more than they were a year ago and the post-mining slump in Perth is easing.

National auction clearance rates are the worst they’ve been in five years.

In February, 66 per cent of homes were selling at auction but in May, that clearance rate was 58 per cent — the worst month since January 2013.

While things aren’t as good as they were last year, Mr Gradwell said it was important to note that “these movements pale in comparison to previous cycles”.

In the wake of the banking royal commission, where dozens of Australians spoke about being given loans they were not in any position to pay off, banks are expected to tighten their lending standards.

Mr Gradwell said it was the landmark royal commission — which directly impacted the availability of credit — that was the “primary driver” behind the slowdown of housing prices.

The ANZ senior economist forecast the market will have stabilised by the end of the year, hoping our strong population growth and record low interest rates would directly influence and lift housing prices.

Australia’s home building boom also appears to be running out of steam — a direct reaction to the nation’s housing price downturn.

On an annual basis, housing prices are in reverse for the first time since 2012.

National housing prices fell 0.1 per cent in May, taking the annual loss to 0.4 per cent, which was the first time values have fallen on annual basis since October, 2012, according to property data firm CoreLogic.

CoreLogic head of research Tim Lawless said tighter credit availability and a high number of units being built despite weakening foreign investor interest are key factors behind the decline.

“The most significant driver of this turnaround has been tighter credit availability, particularly for those borrowing for investment purposes,” he said.

“Additionally, a high number of units remain under construction, with demand impacted by fewer foreign buyers and less domestic investment in the market.”
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Re: House price collapse already started !!
Reply #102 - Jul 6th, 2018 at 12:18pm
 
Quote:
On an annual basis, housing prices are in reverse for the first time since 2012.

National housing prices fell 0.1 per cent in May, taking the annual loss to 0.4 per cent, which was the first time values have fallen on annual basis since October, 2012, according to property data firm CoreLogic.


0.4% eh? Do you think it will trigger another GFC?
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Re: House price collapse already started !!
Reply #103 - Jul 6th, 2018 at 12:29pm
 
freediver wrote on Jul 6th, 2018 at 12:18pm:
Quote:
On an annual basis, housing prices are in reverse for the first time since 2012.

National housing prices fell 0.1 per cent in May, taking the annual loss to 0.4 per cent, which was the first time values have fallen on annual basis since October, 2012, according to property data firm CoreLogic.


0.4% eh? Do you think it will trigger another GFC?


Yes the GFC that we avoided by inflating a property bubble with massive amounts of borrowed money when the rest of the world was unwinding all of their housing debt !!

And you conveniently missed this Wink

Quote:
In July 2017, houses in Sydney were selling for 4.2 per cent more than they are now.

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Re: House price collapse already started !!
Reply #104 - Jul 6th, 2018 at 6:08pm
 
I also left out residential unit prices in those three suburbs in Melbourne that Bobby got all worked up about. Is there any other qualifiers you want me to put on that 0.4% drop in house prices?
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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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Re: House price collapse already started !!
Reply #120 - 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.
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Re: House price collapse already started !!
Reply #121 - Jul 12th, 2018 at 12:43pm
 
Sir lastnail wrote on 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
yeah, thats how i got rich. Wink
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Re: House price collapse already started !!
Reply #122 - Jul 12th, 2018 at 12:44pm
 
Sir lastnail wrote on 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


If you and I were both living in Zimbabwe Id still have a lot more money than you.
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Re: House price collapse already started !!
Reply #123 - Jul 12th, 2018 at 12:51pm
 
Rhino wrote on Jul 12th, 2018 at 12:44pm:
Sir lastnail wrote on 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


If you and I were both living in Zimbabwe Id still have a lot more money than you.


but you still couldn't afford a loaf of bread Cheesy LOL

and don't big note yourself too much mate because we all know that you have bludged your way through your life in the public sector and stood over people in the private sector who have to do real work in order to pay for your nonsense Sad

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Re: House price collapse already started !!
Reply #124 - 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
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Re: House price collapse already started !!
Reply #125 - Jul 12th, 2018 at 1:56pm
 
Sir lastnail wrote on Jul 12th, 2018 at 12:51pm:
Rhino wrote on Jul 12th, 2018 at 12:44pm:
Sir lastnail wrote on 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


If you and I were both living in Zimbabwe Id still have a lot more money than you.


but you still couldn't afford a loaf of bread Cheesy LOL

and don't big note yourself too much mate because we all know that you have bludged your way through your life in the public sector and stood over people in the private sector who have to do real work in order to pay for your nonsense Sad

actually you know very little about me. I dont have any issue being highly respected while doing a job you couldnt even understand . Stick to your amway mate and keep pretending you are a businessman while knowing nothing about finance.
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« Last Edit: Jul 12th, 2018 at 2:01pm by Rhino »  
 
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Re: House price collapse already started !!
Reply #126 - 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.
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Re: House price collapse already started !!
Reply #127 - Jul 12th, 2018 at 2:04pm
 
I will be buying a couple more properties soon, would you like me to keep you updated with my progress?
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Re: House price collapse already started !!
Reply #128 - 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
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Re: House price collapse already started !!
Reply #129 - Jul 12th, 2018 at 2:33pm
 
Rhino wrote on Jul 12th, 2018 at 2:04pm:
I will be buying a couple more properties soon, would you like me to keep you updated with my progress?


Usually people who make claims like that here make them because they are bullshit and can't substantiate any of it. Keep on buying those monopoly board houses. Maybe you can retire soon Cheesy LOL

...
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Re: House price collapse already started !!
Reply #130 - 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.
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« Last Edit: Jul 12th, 2018 at 4:34pm by Bobby »  

Extraordinary claims require extraordinary evidence.
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Re: House price collapse already started !!
Reply #131 - 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?
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Re: House price collapse already started !!
Reply #132 - 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.

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« Last Edit: Jul 12th, 2018 at 9:09pm by Setanta »  

nu ninda an ezzateni watar ma ekuteni
 
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Re: House price collapse already started !!
Reply #133 - 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.
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Re: House price collapse already started !!
Reply #134 - 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
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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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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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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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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 »  

nu ninda an ezzateni watar ma ekuteni
 
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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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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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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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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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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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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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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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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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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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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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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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Re: House price collapse already started !!
Reply #150 - Jul 22nd, 2018 at 12:01pm
 
Quote:
Can we attribute this to the RC into banks ?


Is it the needle or the bubble that causes the pop?
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Re: House price collapse already started !!
Reply #151 - Jul 22nd, 2018 at 12:21pm
 
Sir lastnail wrote on 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


No. He would have ended half a mil ahead, while youve been trying to talk prices down I sold a property , took my profit and invested in another one which Im a couple of hundred grand ahead on. I even told you when I did it so you know I made money. Cant stand it can you?
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Re: House price collapse already started !!
Reply #152 - Jul 22nd, 2018 at 12:29pm
 
Rhino wrote on Jul 22nd, 2018 at 12:21pm:
Sir lastnail wrote on 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


No. He would have ended half a mil ahead, while youve been trying to talk prices down I sold a property , took my profit and invested in another one which Im a couple of hundred grand ahead on. I even told you when I did it so you know I made money. Cant stand it can you?


tell that to the dude who is 250K down. He took your advice and lost out big time and now the grim-reaper is coming to kick him out Sad
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Re: House price collapse already started !!
Reply #153 - Jul 22nd, 2018 at 12:40pm
 
The market is about timing, not time in the market. There you go,  I just gave you a valuable bit of free advice. I dont know whats wrong with me today, Im  feeling a little charitable towards the less fortunate.
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Re: House price collapse already started !!
Reply #154 - Jul 22nd, 2018 at 12:42pm
 
Rhino wrote on Jul 22nd, 2018 at 12:40pm:
The market is about timing, not time in the market. There you go,  I just gave you a valuable bit of free advice. I dont know whats wrong with me today, Im  feeling a little charitable towards the less fortunate.


yeh timing after the event. yeh right Cheesy LOL
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Re: House price collapse already started !!
Reply #155 - Jul 22nd, 2018 at 12:44pm
 
What "event"?
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Re: House price collapse already started !!
Reply #156 - Jul 22nd, 2018 at 12:59pm
 
Rhino wrote on Jul 22nd, 2018 at 12:44pm:
What "event"?


so you got the best chair on the titanic. How good are you Cheesy LOL
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Re: House price collapse already started !!
Reply #157 - Jul 22nd, 2018 at 1:06pm
 
Are you unable to answer the question? What "event"?
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Re: House price collapse already started !!
Reply #158 - Jul 22nd, 2018 at 1:10pm
 
Rhino wrote on Jul 22nd, 2018 at 1:06pm:
Are you unable to answer the question? What "event"?


before the impending correction that you refuse to acknowledge.
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Re: House price collapse already started !!
Reply #159 - Jul 22nd, 2018 at 4:29pm
 
The panic has set in and the lemmings are headed for the cliff
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Re: House price collapse already started !!
Reply #160 - Jul 22nd, 2018 at 6:54pm
 
red baron wrote on Jul 22nd, 2018 at 4:29pm:
The panic has set in and the lemmings are headed for the cliff


whino is going to try and stabilize prices by buying more investment properties Cheesy LOL
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Re: House price collapse already started !!
Reply #161 - Jul 23rd, 2018 at 10:30am
 
yep everyone take whinos advice and get out your timing lights and buy buy buy !

Quote:
The days of property prices only going up are well and truly over

The housing market landscape has changed and so too has the behaviour of borrowers, lenders, developers, valuators and buyers’ agents. There are now many high risks associated with residential property including oversupply, credit restrictions, the impact of the Banking Royal Commission and imbalances in the market.

Add to that the prospect of an ALP win at the next federal election, and with it reforms to negative gearing and capital gains tax, and there is much cause for concern, especially if a blanket approach is taken with their introduction across the country.

RiskWise Property Research and WargentAdvisory’s The Impact Analysis: Negative Gearing, CGT & Australia’s Residential Property Markets report assesses Labor’s proposed reforms to negative gearing and the capital gains tax (CGT) discount, and the implications if implemented.

How behaviour has changed:

Investors have a major impact on dwelling prices. According to the RBA they can amplify credit and dwelling price cycles.

One of the reasons for this is because investors purchase more off-the-plan dwellings than owner-occupiers, meaning they contribute to larger upswings in construction leading to the risk of future oversupply, particularly of units, in some locations. Conversely, elevated levels of investor activity may amplify any subsequent downswing, increasing risks to the broader housing market, particularly in areas that carry a higher level of risk for oversupply.

Also, rental properties are not always fully substitute products with owner-occupied dwellings (rental properties are typically smaller, carry a higher price per square metre and are closer to CBDs).

This means there is inherent risk associated with them as they do not appeal to families looking for three bedrooms plus outdoor space, close to schools, transport and employment hubs.

An example of a recent change in investor behaviour can be seen in Footscray, Victoria, where a RiskWise report analysis for one private investor considering buying an off-the-plan unit showed it was extremely high risk.

The development was a 40-unit high rise and the unit had only two bedrooms with no car parking. It had a rental return of $450 per week for a property value of $575,000 and strata payments $600, plus it was in a very oversupplied area.

Currently there are a large number of high-rise properties being offered to a smaller number of investors.

This has resulted in a reduction in activity and had a major impact on the market, including owner-occupiers. The investor market share in Sydney decreased between January 2017 to March 2018 from 50.4% to 43%.

A similar trend was witnessed in Melbourne, from 39.1% to 34.9%.

In addition, Foreign Investment Review Board figures show residential approvals to foreign persons fell sharply upon the introduction of application fees and duty surcharges from 40,149 in the financial year 2015-16 to 13,198 in the financial year 2016-17.

Chinese authorities have also made it more difficult for its residents to purchase overseas.

Borrowers are by far more aware of the risks regarding off-the-plan and are changing their investment strategies, purchasing existing dwellings, particularly houses, rather than units.


A prime example of the impact of borrowers on dwelling oversupply and price reductions is units in inner-city Brisbane.

The area has experienced a high volume of apartment construction, stock listings and elevated vacancy rates, and there has been widespread evidence of price discounting and falling rents.......


https://www.businessinsider.com.au/australian-housing-market-downturn-2018-7
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Re: House price collapse already started !!
Reply #162 - Jul 23rd, 2018 at 12:22pm
 
If those price drops are real, now would be a good time to buy.
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Re: House price collapse already started !!
Reply #163 - Jul 23rd, 2018 at 10:06pm
 
red baron wrote on Jul 22nd, 2018 at 4:29pm:
The panic has set in and the lemmings are headed for the cliff
Yes. Prices are down by a whopping 1.4 percent.  Or up, depends what state you are in.
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Re: House price collapse already started !!
Reply #164 - Jul 23rd, 2018 at 10:09pm
 
Sir lastnail wrote on Jul 22nd, 2018 at 1:10pm:
Rhino wrote on Jul 22nd, 2018 at 1:06pm:
Are you unable to answer the question? What "event"?


before the impending correction that you refuse to acknowledge.
Qld going gangbusters. W.A. at the bottom of the cycle (good time to buy). Tassie going up. Sydney and Melbourne having a market correction. Is this the "collapse" you are talking about?
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Re: House price collapse already started !!
Reply #165 - Jul 23rd, 2018 at 10:24pm
 
Sir lastnail wrote on Jul 22nd, 2018 at 1:10pm:
Rhino wrote on Jul 22nd, 2018 at 1:06pm:
Are you unable to answer the question? What "event"?


before the impending correction that you refuse to acknowledge.

Oh? Correction now, not a collapse, after all.

That was a very quick climb-down.
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Re: House price collapse already started !!
Reply #166 - Jul 24th, 2018 at 8:33am
 
Frank wrote on Jul 23rd, 2018 at 10:24pm:
Sir lastnail wrote on Jul 22nd, 2018 at 1:10pm:
Rhino wrote on Jul 22nd, 2018 at 1:06pm:
Are you unable to answer the question? What "event"?


before the impending correction that you refuse to acknowledge.

Oh? Correction now, not a collapse, after all.

That was a very quick climb-down.


Haha - noticed it too.

Even a 10% reduction after a decade where prices doubled is hardly a crisis.

In fact I'm holding out on buying an investment property hoping it will be 10%
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Re: House price collapse already started !!
Reply #167 - Jul 24th, 2018 at 8:48am
 
i dont think people realise how rich some of chinese immigrants are.
i was at dinner with one on the gold coast and he had 2 development projects going in brisbane . both to build blocks of 30 units.

he said this was just a bit of a hobby project as he used to build blocks of 100's of units in china.

he brought an old heritage building in brisbane and knocked it down to build one of these blocks.

he thought the councils letters and fines and the people in the street protesting were "amusing".

these guys are playing the game at a whole new level.

they could not care less about joe lunchbox trying to scrape up a deposit on a house.

as long as our pollies are being bribed and treasury relies on this sort of capital input, the cost of real estate isnt going to drop much at all
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Re: House price collapse already started !!
Reply #168 - Jul 24th, 2018 at 9:42am
 
aquascoot wrote on Jul 24th, 2018 at 8:48am:
i dont think people realise how rich some of chinese immigrants are.
i was at dinner with one on the gold coast and he had 2 development projects going in brisbane . both to build blocks of 30 units.

he said this was just a bit of a hobby project as he used to build blocks of 100's of units in china.

he brought an old heritage building in brisbane and knocked it down to build one of these blocks.

he thought the councils letters and fines and the people in the street protesting were "amusing".

these guys are playing the game at a whole new level.

they could not care less about joe lunchbox trying to scrape up a deposit on a house.

as long as our pollies are being bribed and treasury relies on this sort of capital input, the cost of real estate isnt going to drop much at all


Yup. I was actually in the Goldie last week and met with an old mate I knew when I was living in Vietnam and a Chinese mate of his. The amount of money they both have in Aussie real estate is breath taking.

They don't care one jot about short/medium term dips as their prime objective is to get money out of Vietnam / China and even a 25% loss (on paper) represents acceptable insurance against their capital. Incidentally, they're not in the least phased about the long term future of Aussie real estate. 
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Re: House price collapse already started !!
Reply #169 - Jul 24th, 2018 at 9:58am
 
Yup - same kind of story near here - big Chinese guy made millions out of building roads in China, bought a large rural block here - so far been fined $2m by council - chicken feed.

Ah - the joys of being a good socialist .....
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Re: House price collapse already started !!
Reply #170 - Jul 24th, 2018 at 10:08am
 
Frank wrote on Jul 23rd, 2018 at 10:24pm:
Sir lastnail wrote on Jul 22nd, 2018 at 1:10pm:
Rhino wrote on Jul 22nd, 2018 at 1:06pm:
Are you unable to answer the question? What "event"?


before the impending correction that you refuse to acknowledge.

Oh? Correction now, not a collapse, after all.

That was a very quick climb-down.


Ok crash then Wink I'm fine with crash Wink
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Re: House price collapse already started !!
Reply #171 - Jul 24th, 2018 at 10:11am
 
Gordon wrote on Jul 24th, 2018 at 9:42am:
aquascoot wrote on Jul 24th, 2018 at 8:48am:
i dont think people realise how rich some of chinese immigrants are.
i was at dinner with one on the gold coast and he had 2 development projects going in brisbane . both to build blocks of 30 units.

he said this was just a bit of a hobby project as he used to build blocks of 100's of units in china.

he brought an old heritage building in brisbane and knocked it down to build one of these blocks.

he thought the councils letters and fines and the people in the street protesting were "amusing".

these guys are playing the game at a whole new level.

they could not care less about joe lunchbox trying to scrape up a deposit on a house.

as long as our pollies are being bribed and treasury relies on this sort of capital input, the cost of real estate isnt going to drop much at all


Yup. I was actually in the Goldie last week and met with an old mate I knew when I was living in Vietnam and a Chinese mate of his. The amount of money they both have in Aussie real estate is breath taking.

They don't care one jot about short/medium term dips as their prime objective is to get money out of Vietnam / China and even a 25% loss (on paper) represents acceptable insurance against their capital. Incidentally, they're not in the least phased about the long term future of Aussie real estate. 


How is that good for the rest of us ? It's a sign of a desperate government that allows this to happen.
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Re: House price collapse already started !!
Reply #172 - Jul 24th, 2018 at 10:48am
 
Sir lastnail wrote on Jul 24th, 2018 at 10:11am:
Gordon wrote on Jul 24th, 2018 at 9:42am:
aquascoot wrote on Jul 24th, 2018 at 8:48am:
i dont think people realise how rich some of chinese immigrants are.
i was at dinner with one on the gold coast and he had 2 development projects going in brisbane . both to build blocks of 30 units.

he said this was just a bit of a hobby project as he used to build blocks of 100's of units in china.

he brought an old heritage building in brisbane and knocked it down to build one of these blocks.

he thought the councils letters and fines and the people in the street protesting were "amusing".

these guys are playing the game at a whole new level.

they could not care less about joe lunchbox trying to scrape up a deposit on a house.

as long as our pollies are being bribed and treasury relies on this sort of capital input, the cost of real estate isnt going to drop much at all


Yup. I was actually in the Goldie last week and met with an old mate I knew when I was living in Vietnam and a Chinese mate of his. The amount of money they both have in Aussie real estate is breath taking.

They don't care one jot about short/medium term dips as their prime objective is to get money out of Vietnam / China and even a 25% loss (on paper) represents acceptable insurance against their capital. Incidentally, they're not in the least phased about the long term future of Aussie real estate. 


How is that good for the rest of us ? It's a sign of a desperate government that allows this to happen.


Yes - when a government introduces grossly unfair competition into a market such as housing, they are dooming the majority to a position of never being able to compete for a roof over their heads, and thus to becoming perpetual rent slaves to the rich.  They are also driving prices up constantly to cater to the overflowing bank balances of these mega-rich 'good communists'.

It's also a sure sign that there is nothing else on the table to sustain the economy ... after all, mining etc hardly pay any taxes... and at least construction will keep the tradies busy.  My son is one and he says the same... it's the only business in town in SE Queensland and without it the unemployment would be massive.

Furthermore, selling out this nation will inevitably ensure that its people will one day be controlled by foreigners with no solid affiliation with this nation and its culture and its ethos.  We've seen plenty of that already in the past fifty or sixty years with successive waves of out-of-context with Australia immigration.  Look at the results to date.   Embarrassed
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Re: House price collapse already started !!
Reply #173 - Jul 24th, 2018 at 11:04am
 
Stig wrote on Jul 24th, 2018 at 8:33am:
Frank wrote on Jul 23rd, 2018 at 10:24pm:
Sir lastnail wrote on Jul 22nd, 2018 at 1:10pm:
Rhino wrote on Jul 22nd, 2018 at 1:06pm:
Are you unable to answer the question? What "event"?


before the impending correction that you refuse to acknowledge.

Oh? Correction now, not a collapse, after all.

That was a very quick climb-down.


Haha - noticed it too.

Even a 10% reduction after a decade where prices doubled is hardly a crisis.

In fact I'm holding out on buying an investment property hoping it will be 10%


There's no more cans for the gov to kick down the road to keep house prices inflated and the banks have been exposed for dodgy lending practices so now you are on your own. Enter at own risk !

Identical circumstances in Ireland and look what happened !


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Re: House price collapse already started !!
Reply #174 - Jul 24th, 2018 at 11:31am
 
The problem is that homes have been turned into investment goods with investors competing and bidding up the price.

The market needs a high-interest shock to shake out the investors in favor of residential owners.
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Re: House price collapse already started !!
Reply #175 - Jul 24th, 2018 at 11:37am
 
Unforgiven wrote on Jul 24th, 2018 at 11:31am:
The problem is that homes have been turned into investment goods with investors competing and bidding up the price.

The market needs a high-interest shock to shake out the investors in favor of residential owners.


The banks have stopped interest only loans to investors and stopped lending to punters to buy property for their SMSF's Wink
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Re: House price collapse already started !!
Reply #176 - Jul 24th, 2018 at 12:02pm
 
Sir lastnail wrote on Jul 24th, 2018 at 10:08am:
Frank wrote on Jul 23rd, 2018 at 10:24pm:
Sir lastnail wrote on Jul 22nd, 2018 at 1:10pm:
Rhino wrote on Jul 22nd, 2018 at 1:06pm:
Are you unable to answer the question? What "event"?


before the impending correction that you refuse to acknowledge.

Oh? Correction now, not a collapse, after all.

That was a very quick climb-down.


Ok crash then Wink I'm fine with crash Wink
Well, first you say a collapse has already happened, now you say its impending and will happen. Then its not a collapse but an "impending correction". Now its back to a  crash, which hasnt happened. How do you explain rising prices in some states if its a crash? You really seem to be a guru on this.
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Re: House price collapse already started !!
Reply #177 - Jul 24th, 2018 at 12:04pm
 
Sir lastnail wrote on Jul 24th, 2018 at 11:04am:
Stig wrote on Jul 24th, 2018 at 8:33am:
Frank wrote on Jul 23rd, 2018 at 10:24pm:
Sir lastnail wrote on Jul 22nd, 2018 at 1:10pm:
Rhino wrote on Jul 22nd, 2018 at 1:06pm:
Are you unable to answer the question? What "event"?


before the impending correction that you refuse to acknowledge.

Oh? Correction now, not a collapse, after all.

That was a very quick climb-down.


Haha - noticed it too.

Even a 10% reduction after a decade where prices doubled is hardly a crisis.

In fact I'm holding out on buying an investment property hoping it will be 10%


There's no more cans for the gov to kick down the road to keep house prices inflated and the banks have been exposed for dodgy lending practices so now you are on your own. Enter at own risk !

Identical circumstances in Ireland and look what happened !


as you have been previously shown, circumstances were not and are not identical in Ireland.
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Re: House price collapse already started !!
Reply #178 - Jul 24th, 2018 at 12:18pm
 
Sir lastnail wrote on Jul 24th, 2018 at 10:11am:
Gordon wrote on Jul 24th, 2018 at 9:42am:
aquascoot wrote on Jul 24th, 2018 at 8:48am:
i dont think people realise how rich some of chinese immigrants are.
i was at dinner with one on the gold coast and he had 2 development projects going in brisbane . both to build blocks of 30 units.

he said this was just a bit of a hobby project as he used to build blocks of 100's of units in china.

he brought an old heritage building in brisbane and knocked it down to build one of these blocks.

he thought the councils letters and fines and the people in the street protesting were "amusing".

these guys are playing the game at a whole new level.

they could not care less about joe lunchbox trying to scrape up a deposit on a house.

as long as our pollies are being bribed and treasury relies on this sort of capital input, the cost of real estate isnt going to drop much at all


Yup. I was actually in the Goldie last week and met with an old mate I knew when I was living in Vietnam and a Chinese mate of his. The amount of money they both have in Aussie real estate is breath taking.

They don't care one jot about short/medium term dips as their prime objective is to get money out of Vietnam / China and even a 25% loss (on paper) represents acceptable insurance against their capital. Incidentally, they're not in the least phased about the long term future of Aussie real estate. 


How is that good for the rest of us ? It's a sign of a desperate government that allows this to happen.


It means the Chinese would rather pay for our houses for us then sell or rent them back at a 25% discount than have the money where their own government can get their hands on it. Don't compete, take advantage.
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Re: House price collapse already started !!
Reply #179 - Jul 24th, 2018 at 1:01pm
 
Gold is the currency for kings.  Silver is the currency for merchants.  Debt is the currency of slaves.

Think about it before you commit to a huge mortgage. 
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Re: House price collapse already started !!
Reply #180 - Jul 24th, 2018 at 1:23pm
 
Thats a fairly stupid philosophy actually, the worlds richest people didnt get rich by saving up for things. They borrowed and leveraged.
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Re: House price collapse already started !!
Reply #181 - Jul 24th, 2018 at 1:45pm
 
Rhino wrote on Jul 24th, 2018 at 1:23pm:
Thats a fairly stupid philosophy actually, the worlds richest people didnt get rich by saving up for things. They borrowed and leveraged.


A few lucky ones can get there with debt and ability.  But for everyone of those super rich, there are perhaps million others who failed, and in permanent in retractable debt.
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Re: House price collapse already started !!
Reply #182 - Jul 24th, 2018 at 1:51pm
 
tickleandrose wrote on Jul 24th, 2018 at 1:01pm:
Gold is the currency for kings.  Silver is the currency for merchants.  Debt is the currency of slaves.

Think about it before you commit to a huge mortgage. 


Yeah sorry but you're clueless.
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Re: House price collapse already started !!
Reply #183 - Jul 24th, 2018 at 2:30pm
 
Rhino wrote on Jul 24th, 2018 at 12:04pm:
Sir lastnail wrote on Jul 24th, 2018 at 11:04am:
Stig wrote on Jul 24th, 2018 at 8:33am:
Frank wrote on Jul 23rd, 2018 at 10:24pm:
Sir lastnail wrote on Jul 22nd, 2018 at 1:10pm:
Rhino wrote on Jul 22nd, 2018 at 1:06pm:
Are you unable to answer the question? What "event"?


before the impending correction that you refuse to acknowledge.

Oh? Correction now, not a collapse, after all.

That was a very quick climb-down.


Haha - noticed it too.

Even a 10% reduction after a decade where prices doubled is hardly a crisis.

In fact I'm holding out on buying an investment property hoping it will be 10%


There's no more cans for the gov to kick down the road to keep house prices inflated and the banks have been exposed for dodgy lending practices so now you are on your own. Enter at own risk !

Identical circumstances in Ireland and look what happened !


as you have been previously shown, circumstances were not and are not identical in Ireland.


Watch it and see. Those conditions are identical to what we have in Australia right now. Or are you going to tell us that Australia has a well regulated banking system Cheesy LOL That won't wash with the punters anymore Wink
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Re: House price collapse already started !!
Reply #184 - Jul 24th, 2018 at 2:32pm
 
Rhino wrote on Jul 24th, 2018 at 1:23pm:
Thats a fairly stupid philosophy actually, the worlds richest people didnt get rich by saving up for things. They borrowed and leveraged.


And they didn't get it from wheeling and dealing in property either Wink
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Re: House price collapse already started !!
Reply #185 - Jul 24th, 2018 at 2:41pm
 
Sir lastnail wrote on Jul 24th, 2018 at 2:32pm:
Rhino wrote on Jul 24th, 2018 at 1:23pm:
Thats a fairly stupid philosophy actually, the worlds richest people didnt get rich by saving up for things. They borrowed and leveraged.


And they didn't get it from wheeling and dealing in property either Wink
Some of them did. You keep coming out with this stupid stuff. Dont you think before you post?
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Re: House price collapse already started !!
Reply #186 - Jul 24th, 2018 at 2:42pm
 
Sir lastnail wrote on Jul 24th, 2018 at 2:30pm:

Watch it and see. Those conditions are identical to what we have in Australia right now. Or are you going to tell us that Australia has a well regulated banking system Cheesy LOL That won't wash with the punters anymore Wink
Are you this stupid that you think if you keep saying something it makes it true?
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Re: House price collapse already started !!
Reply #187 - Jul 24th, 2018 at 2:43pm
 
Rhino wrote on Jul 24th, 2018 at 2:41pm:
Sir lastnail wrote on Jul 24th, 2018 at 2:32pm:
Rhino wrote on Jul 24th, 2018 at 1:23pm:
Thats a fairly stupid philosophy actually, the worlds richest people didnt get rich by saving up for things. They borrowed and leveraged.


And they didn't get it from wheeling and dealing in property either Wink
Some of them did. You keep coming out with this stupid stuff. Dont you think before you post?


What percentage ? We'd still all be living in caves if property was the only game in town. Idiot !
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Re: House price collapse already started !!
Reply #188 - Jul 24th, 2018 at 2:45pm
 
Sir lastnail wrote on Jul 24th, 2018 at 2:43pm:
Rhino wrote on Jul 24th, 2018 at 2:41pm:
Sir lastnail wrote on Jul 24th, 2018 at 2:32pm:
Rhino wrote on Jul 24th, 2018 at 1:23pm:
Thats a fairly stupid philosophy actually, the worlds richest people didnt get rich by saving up for things. They borrowed and leveraged.


And they didn't get it from wheeling and dealing in property either Wink
Some of them did. You keep coming out with this stupid stuff. Dont you think before you post?


What percentage ? We'd still all be living in caves if property was the only game in town. Idiot !
No one said it was the only game in town. Another stupid comment from yourself. Its a game you dont know how to play, thats why you denigrate those who do know how. Its just pure envy on your behalf.
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Re: House price collapse already started !!
Reply #189 - Jul 24th, 2018 at 2:48pm
 
Rhino wrote on Jul 24th, 2018 at 2:45pm:
Sir lastnail wrote on Jul 24th, 2018 at 2:43pm:
Rhino wrote on Jul 24th, 2018 at 2:41pm:
Sir lastnail wrote on Jul 24th, 2018 at 2:32pm:
Rhino wrote on Jul 24th, 2018 at 1:23pm:
Thats a fairly stupid philosophy actually, the worlds richest people didnt get rich by saving up for things. They borrowed and leveraged.


And they didn't get it from wheeling and dealing in property either Wink
Some of them did. You keep coming out with this stupid stuff. Dont you think before you post?


What percentage ? We'd still all be living in caves if property was the only game in town. Idiot !
No one said it was the only game in town. Another stupid comment from yourself.


You and most aussies think it is which is why there is nothing else left here because they have sunk a pile of borrowed money into a non productive asset that doesn't even pay dividends Sad
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Re: House price collapse already started !!
Reply #190 - Jul 24th, 2018 at 6:12pm
 
Sir lastnail wrote on Jul 24th, 2018 at 2:48pm:
Rhino wrote on Jul 24th, 2018 at 2:45pm:
Sir lastnail wrote on Jul 24th, 2018 at 2:43pm:
Rhino wrote on Jul 24th, 2018 at 2:41pm:
Sir lastnail wrote on Jul 24th, 2018 at 2:32pm:
Rhino wrote on Jul 24th, 2018 at 1:23pm:
Thats a fairly stupid philosophy actually, the worlds richest people didnt get rich by saving up for things. They borrowed and leveraged.


And they didn't get it from wheeling and dealing in property either Wink
Some of them did. You keep coming out with this stupid stuff. Dont you think before you post?


What percentage ? We'd still all be living in caves if property was the only game in town. Idiot !
No one said it was the only game in town. Another stupid comment from yourself.


You and most aussies think it is which is why there is nothing else left here because they have sunk a pile of borrowed money into a non productive asset that doesn't even pay dividends Sad

It's speculation on the immigration system. The rate of immigration is vastly greater than the rate of house building. So house prices are going up because the demand is great. The Chinese investors are not going to be in mortgage distress, only the punters who stretch themselves too thinly - the local workers who want to make a living and leave something for their kids.
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Re: House price collapse already started !!
Reply #191 - Jul 24th, 2018 at 7:37pm
 
Sir lastnail wrote on Jul 24th, 2018 at 2:48pm:
Rhino wrote on Jul 24th, 2018 at 2:45pm:
Sir lastnail wrote on Jul 24th, 2018 at 2:43pm:
Rhino wrote on Jul 24th, 2018 at 2:41pm:
Sir lastnail wrote on Jul 24th, 2018 at 2:32pm:
Rhino wrote on Jul 24th, 2018 at 1:23pm:
Thats a fairly stupid philosophy actually, the worlds richest people didnt get rich by saving up for things. They borrowed and leveraged.


And they didn't get it from wheeling and dealing in property either Wink
Some of them did. You keep coming out with this stupid stuff. Dont you think before you post?


What percentage ? We'd still all be living in caves if property was the only game in town. Idiot !
No one said it was the only game in town. Another stupid comment from yourself.


You and most aussies think it is which is why there is nothing else left here because they have sunk a pile of borrowed money into a non productive asset that doesn't even pay dividends Sad


It provides housing. If you think that isn't productive, try living on the street.
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Re: House price collapse already started !!
Reply #192 - Jul 24th, 2018 at 11:26pm
 
Frank wrote on Jul 24th, 2018 at 6:12pm:
Sir lastnail wrote on Jul 24th, 2018 at 2:48pm:
Rhino wrote on Jul 24th, 2018 at 2:45pm:
Sir lastnail wrote on Jul 24th, 2018 at 2:43pm:
Rhino wrote on Jul 24th, 2018 at 2:41pm:
Sir lastnail wrote on Jul 24th, 2018 at 2:32pm:
Rhino wrote on Jul 24th, 2018 at 1:23pm:
Thats a fairly stupid philosophy actually, the worlds richest people didnt get rich by saving up for things. They borrowed and leveraged.


And they didn't get it from wheeling and dealing in property either Wink
Some of them did. You keep coming out with this stupid stuff. Dont you think before you post?


What percentage ? We'd still all be living in caves if property was the only game in town. Idiot !
No one said it was the only game in town. Another stupid comment from yourself.


You and most aussies think it is which is why there is nothing else left here because they have sunk a pile of borrowed money into a non productive asset that doesn't even pay dividends Sad

It's speculation on the immigration system. The rate of immigration is vastly greater than the rate of house building. So house prices are going up because the demand is great. The Chinese investors are not going to be in mortgage distress, only the punters who stretch themselves too thinly - the local workers who want to make a living and leave something for their kids.


They had mass immigration in Ireland and guess what happened ? It didn't stop it. If the banks can no longer throw money at it then you can have all of the immigration you want and it won't stop a crash.
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Re: House price collapse already started !!
Reply #193 - Jul 24th, 2018 at 11:27pm
 
freediver wrote on Jul 24th, 2018 at 7:37pm:
Sir lastnail wrote on Jul 24th, 2018 at 2:48pm:
Rhino wrote on Jul 24th, 2018 at 2:45pm:
Sir lastnail wrote on Jul 24th, 2018 at 2:43pm:
Rhino wrote on Jul 24th, 2018 at 2:41pm:
Sir lastnail wrote on Jul 24th, 2018 at 2:32pm:
Rhino wrote on Jul 24th, 2018 at 1:23pm:
Thats a fairly stupid philosophy actually, the worlds richest people didnt get rich by saving up for things. They borrowed and leveraged.


And they didn't get it from wheeling and dealing in property either Wink
Some of them did. You keep coming out with this stupid stuff. Dont you think before you post?


What percentage ? We'd still all be living in caves if property was the only game in town. Idiot !
No one said it was the only game in town. Another stupid comment from yourself.


You and most aussies think it is which is why there is nothing else left here because they have sunk a pile of borrowed money into a non productive asset that doesn't even pay dividends Sad


It provides housing. If you think that isn't productive, try living on the street.


Yes housing for the investors Cheesy LOL
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Re: House price collapse already started !!
Reply #194 - Jul 25th, 2018 at 10:09am
 
Sir lastnail wrote on Jul 24th, 2018 at 2:30pm:
Watch it and see. Those conditions are identical to what we have in Australia right now. Or are you going to tell us that Australia has a well regulated banking system Cheesy LOL That won't wash with the punters anymore Wink


Really?

We have a corporate tax rate of 11%?
We're part of the EU?
We have a net migration rate falling to zero?
Our largest trading partners include Belgium and Switzerland?

Wow - heaps of similarities there
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Re: House price collapse already started !!
Reply #195 - Jul 25th, 2018 at 10:12am
 
Sir lastnail wrote on Jul 24th, 2018 at 11:26pm:
They had mass immigration in Ireland and guess what happened ? It didn't stop it. If the banks can no longer throw money at it then you can have all of the immigration you want and it won't stop a crash.


Ireland's net immigration rate per capita was close to half ours even at the peak of the "Celtic Tiger" days, and fell to zero around the time of the crash?

Anything else?
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Re: House price collapse already started !!
Reply #196 - Jul 25th, 2018 at 11:55am
 
Stig wrote on Jul 25th, 2018 at 10:12am:
Sir lastnail wrote on Jul 24th, 2018 at 11:26pm:
They had mass immigration in Ireland and guess what happened ? It didn't stop it. If the banks can no longer throw money at it then you can have all of the immigration you want and it won't stop a crash.


Ireland's net immigration rate per capita was close to half ours even at the peak of the "Celtic Tiger" days, and fell to zero around the time of the crash?

Anything else?


Watch it and weep. It's a text book copy of what is happening in Australia today. Now you know what will happen next Wink


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Re: House price collapse already started !!
Reply #197 - Jul 25th, 2018 at 9:12pm
 
Sir lastnail wrote on Jul 25th, 2018 at 11:55am:
Now you know what will happen next Wink



Yeah - Trump's trade war threats peak interest from Chinese investors in Australian property again

https://www.domain.com.au/news/ussino-trade-war-pushes-australia-back-to-the-top...


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Re: House price collapse already started !!
Reply #198 - Jul 25th, 2018 at 9:14pm
 
Stig wrote on Jul 25th, 2018 at 10:09am:
Sir lastnail wrote on Jul 24th, 2018 at 2:30pm:
Watch it and see. Those conditions are identical to what we have in Australia right now. Or are you going to tell us that Australia has a well regulated banking system Cheesy LOL That won't wash with the punters anymore Wink


Really?

We have a corporate tax rate of 11%?
We're part of the EU?
We have a net migration rate falling to zero?
Our largest trading partners include Belgium and Switzerland?

Wow - heaps of similarities there
Don't argue with the idiot, he will beat you with experience. Hes on the bones of his arse but knows everything about finance.
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Re: House price collapse already started !!
Reply #199 - Jul 25th, 2018 at 10:17pm
 
Stig wrote on Jul 25th, 2018 at 9:12pm:
Sir lastnail wrote on Jul 25th, 2018 at 11:55am:
Now you know what will happen next Wink



Yeah - Trump's trade war threats peak interest from Chinese investors in Australian property again

https://www.domain.com.au/news/ussino-trade-war-pushes-australia-back-to-the-top...




And the chinese are going to buy up all areas this time Cheesy LOL

The Domains advertising revenue must have dropped considerably for them to make up this sh.t Cheesy LOL
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Re: House price collapse already started !!
Reply #200 - Aug 2nd, 2018 at 9:36am
 
https://www.businessinsider.com.au/australia-property-market-house-prices-downtu...

Quote:
Australian home prices have fallen for 10 months, but this economist warns the worst is yet to come

Australian home prices fell faster, and in more locations, during July, suggesting weakness in Sydney and Melbourne is now starting to impact values in other parts of the country.

According to CoreLogic’s Hedonic Home Value Index, Australia’s median home price fell 0.6% to $554,263 last month, the largest percentage fall in close to seven years.

The acceleration, significantly faster than the 0.2% decline reported in June, left values down 0.9% over the past three months, and 1.9% over the year.

The annual decline was the fastest in six years, largely reflecting that prices in Sydney and Melbourne have both fallen over this period, dropping 5.4% and 0.5% respectively.

In the past three months alone, Melbourne’s median price has fallen 1.8%, outpacing a 1.1% slide in Sydney. Three of Australia’s remaining six capitals — Perth, Darwin and Canberra — as well as prices in regional areas, also fell over this period.

Some, such as AMP Capital Chief Economist Shane Oliver, think the Sydney and Melbourne-led price unwind is just getting started, forecasting that prices in both cities are likely to fall by another 10 to 12% over the next couple of years, continuing the measured pullback after years of unrelenting growth.

Paul Dales, Chief Australia and New Zealand Economist at Capital Economics, shares a similar view to Oliver, suggesting his “relatively bearish” forecast that prices will gradually fall by 12% from peak to trough is “starting to look a bit optimistic”.

Based on the latest data provided by CoreLogic, Dales thinks the worst is yet to come.

“Prices in Sydney fell by 0.8% in July after seasonal adjustments, and are 5.4% below their peak and falling at a three-month annualised rate of 6.6%,” he says.

“In Melbourne, prices dropped by a larger 0.9% in July and for the first time since November 2012 the annual growth rate turned negative.

“Prices in Melbourne are still only 3.0% below their peak, but they are now falling at a three-month annualised rate of 8.3%.”

So the declines are getting steeper, a trend that Dales believes will continue.

“Most worrying is that prices will soon be falling at an even faster pace,” he says.

“The further decline in the number of home sales in March — the latest month of reliable data — to a seven-year low was larger than the fall in the number of new listings.

“In other words, demand is deteriorating at a faster rate than supply is improving.

“That suggests house prices in the eight capital cities will soon be falling by 5% a year.”


The chart below from Capital Economics shows the ratio of capital city sales to new property listings on a three-month moving average basis, overlaid against annual changes in capital city home prices. The former has been advanced by eight months to show the relationship between the two measures.


There was a song written about this Cheesy LOL



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Re: House price collapse already started !!
Reply #201 - Aug 2nd, 2018 at 9:47am
 
cont...

Quote:
While not a perfect relationship by any stretch, it’s not the only housing indicator pointing to further price weakness ahead.

Auction clearance rates in both Sydney and Melbourne remain entrenched below 60%, typical with levels that have seen property prices fall in the past. The lower proportion of cleared sales also suggests there’s still quite a gulf between what prices buyers can or willing to pay compared to vendor expectations.

The gradual rollout of tighter lending standards has undoubtedly been a factor, limiting the amount borrowers can obtain to fund their property purchase.

In cities such as Sydney and Melbourne, where house price to income ratios are significantly higher than other parts of the country, these income-based restrictions have contributed to larger price declines than the national average.

The question now is whether these restrictions will be relaxed, allowing borrowers to “pay up” for more expensive property, or will they be tightened further, pointing to the likelihood that it will be vendors that will have to lower their price expectations in order to achieve a sale.

Dales thinks on the scale of probabilities, it will likely be the latter.

“There is still a big risk that the Royal Commission investigation into the banks results in a further tightening in lending standards,” he says.

Adding to downside risks for prices, Dales says the full effect of recent small increases in mortgage rates by some lenders, and the tightening in credit criteria by all lenders, has yet to be truly felt.


Given the recent trends, and likelihood of larger price declines ahead, Dales says there’s not an insignificant risk that weakness in the housing market will spillover into the broader Australian economy.

“The acceleration in the housing downturn in July should make the RBA and some other analysts sit up and take notice,” he says.

“The danger is that house prices fall too far, too quickly and undermine economic growth in the near-term. The RBA hasn’t said exactly what it is expecting to happen to house prices, but we’d bet that prices are falling faster and further than it anticipated.”

At its July monetary policy meeting, the RBA expressed little concern over recent developments in house prices, simply noting they had fallen “moderately in Sydney and Melbourne following significant growth over preceding years”. It added they had been “little changed over the preceding six months in other cities on average”.

While the housing market slowdown has been deliberately engineered by the RBA and other members of Australia’s Council of Financial Regulators to help address what were growing financial stability risks for households and lenders, one has to wonder how far prices have to fall before the RBA publicly expresses some concern?

We’ll hear plenty from the RBA in the coming days with its August monetary policy statement, its quarterly statement on monetary policy, as well as a speech by Governor Lowe, all arriving next week.

Given recent information received, markets are likely to be alert to any hints of increased concern.
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Re: House price collapse already started !!
Reply #202 - Aug 2nd, 2018 at 10:37am
 
Hi Nail,
I was going to buy another house a month ago but I'm holding back
as every month they seem to get cheaper.
I wonder where the bottom of the market is?
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Re: House price collapse already started !!
Reply #203 - Aug 2nd, 2018 at 10:51am
 
Bobby wrote on Aug 2nd, 2018 at 10:37am:
Hi Nail,
I was going to buy another house a month ago but I'm holding back
as every month they seem to get cheaper.
I wonder where the bottom of the market is?


ask whino. he seems to know everything about houses Cheesy LOL
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Re: House price collapse already started !!
Reply #204 - Aug 2nd, 2018 at 10:55am
 
Sir lastnail wrote on Aug 2nd, 2018 at 10:51am:
Bobby wrote on Aug 2nd, 2018 at 10:37am:
Hi Nail,
I was going to buy another house a month ago but I'm holding back
as every month they seem to get cheaper.
I wonder where the bottom of the market is?


ask whino. he seems to know everything about houses Cheesy LOL



Yeah Rhino - tell me the best course of action?
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Re: House price collapse already started !!
Reply #205 - Aug 2nd, 2018 at 10:57am
 
Bobby wrote on Aug 2nd, 2018 at 10:55am:
Sir lastnail wrote on Aug 2nd, 2018 at 10:51am:
Bobby wrote on Aug 2nd, 2018 at 10:37am:
Hi Nail,
I was going to buy another house a month ago but I'm holding back
as every month they seem to get cheaper.
I wonder where the bottom of the market is?


ask whino. he seems to know everything about houses Cheesy LOL



Yeah Rhino - tell me the best course of action?


whino will tell you to get out the timing light and check the timing Cheesy LOL

...


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Re: House price collapse already started !!
Reply #206 - Aug 2nd, 2018 at 12:38pm
 
This is what happens when you put all of your eggs in one basket with no backup plan !

https://www.smh.com.au/business/the-economy/the-worst-is-yet-to-come-house-price...

Quote:
'The worst is yet to come': House prices fall by fastest rate in six years.'

House prices have fallen at their fastest rate in more than six years, fuelling concerns that prices in Sydney and Melbourne may fall "too far, too quickly", hurt economic growth and drive anxiety among policymakers

The market now predicts house prices could fall by more than 10 per cent in Sydney and Melbourne from their peak by the time the market stabilises in 2019.  They have already been falling for 10 months straight.

Such a result would make the housing market a central issue at the next federal election, due to be held before May next year, as the Coalition highlights fears that Labor's negative gearing restrictions could further dampen the market.

Analysts have warned the "worst is yet to come" and that house prices will sink further as demand falls at a faster rate than the decrease in available properties. They suggest house prices across the capital cities could drop by up to 5 per cent a year, on top of the 2.4 per cent slide in the year to July.

House prices have risen by up to 45 per cent over the past five years in Sydney and Melbourne. In the past year, record levels of population growth have not made up for investors exiting the market as banks restrict their lending under orders from the regulator and the Turnbull government.

Capital Economics chief economist Paul Dales said the most worrying aspect was that "prices will soon be falling at an even faster pace".

"The further decline in the number of home sales in March to a seven-year low was larger than the fall in the number of new listings," he said.

He warned this was before the full effect of the banking royal commission was known.

Banks have tightened their books in response to revelations at the commission, putting the financial system on a surer footing, but risking steeper price drops.

Australian Prudential Regulation Authority chair Wayne Byres said in July that the “heavy lifting on lending standards has largely been done," but Mr Dales warned "there is still a big risk that the royal commission results in a further tightening in lending standards."

Mr Dales said the acceleration in the housing downturn in July should make the Reserve Bank sit up and take notice.

"The danger is that house prices fall too far, too quickly and undermine economic growth in the near-term," he said.

"The RBA hasn’t said exactly what it is expecting to happen to house prices, but we’d bet that prices are falling faster and further than the bank anticipated."

The CoreLogic capital city index fell by 0.6 per cent in July. Melbourne fell the fastest in July, down by 0.8 per cent followed by Perth, down 0.8 per cent and Sydney down 0.6 per cent.

Prices are now 5.4 per cent below their peak in Sydney and 3 per cent below in Melbourne.

The housing downturn was partly engineered by Treasurer Scott Morrison to help first home-buyers get a foot back into the market as housing affordability dominated policy discussion in Canberra last year.

Mr Morrison said in July that restrictions on investor credit were having "the desired effect of of bringing the Sydney and Melbourne house markets back to more normal transmission".

He said the measures had taken pressure off the Reserve Bank to tighten monetary policy to stop runaway house prices.

"I think those pressures have now been largely extinguished and those markets have moved back to more modest growth levels and not being driven so much by investor sentiment but the fundamentals of supply and demand," he said.

On Wednesday, he said Labor could not be trusted to deliver confidence in house prices.

Shadow treasurer Chris Bowen said Labor's clampdown on negative gearing - which gives investors tax deductions on their properties - would not apply retrospectively and that it would level the playing field for home-buyers.

"Now of course we have seen some of the heat come out of Sydney in particular, but I still talk to young people who are struggling to get into the housing market," he said last week.

"Our policy which was designed carefully for a whole range of circumstances, of course that is what we will take to the election."
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