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AUSTRALIA Armageddon: House price could fall 50% (Read 1320 times)

Grappler Truth Teller Feller

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Re: AUSTRALIA Armageddon: House price could fall 50%
Reply #15 - May 24^th, 2019 at 7:13pm

House prices NEED to fall 50% -yes - some will be hurt - many have already been hurt, so it's only just that those who've had the sweet ride to date take their turn in the barrel.

One direct effect of such a collapse may be a sudden cessation of the artificial propping up of the 'economy' by pouring hundreds of thousands of people into the country, at a time when it cannot cater to them, or incorporate them productively.

“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
― John Adams

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Grappler Truth Teller Feller

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Re: AUSTRALIA Armageddon: House price could fall 50%
Reply #16 - May 24^th, 2019 at 7:18pm

Cooo-rrect! Wage inflation has been replaced by dropping interest rates, which has only exacerbated the problem, not fixed it.

Shorten proposed a solution by cutting out a few concessions for house ownership (as opposed to home ownership), and was shot down in flames...

When Der Downfall comes - it will be monumental... and made all the worse by reducing those interest rates and artificially propping up a failing system... it would have been far better to allow market forces (jeez- market capitalism? That Never-Ending Darwinian Fist-Fight?) to clean up those with a low survival rate and allow the market to settle.

Of course, my son, a building tradie, would not be romping home with the dollars if that happened... but them's the breaks when you build and support indefinitely an 'economy' based on endless construction and endless people smuggling......

“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
― John Adams

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Bobby.

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Re: AUSTRALIA Armageddon: House price could fall 50%
Reply #17 - May 24^th, 2019 at 7:29pm

Laugh till you cry wrote on May 24^th, 2019 at 6:59pm:

Andrei Hicks sends his greeting from his split level dumpster in London.

Andrei would be thankful if denizen Gordon recommended how much Andrei should charge lodgers.

https://media.sandiegoreader.com/img/photos/2012/05/23/006_t500x375.JPG

Hey - that's me -
you're not allowed to post pictures of members.

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Laugh till you cry Gold Member Offline Posts: 13879 In your happy place Gender:	Re: AUSTRALIA Armageddon: House price could fall 50% Reply #18 - May 25^th, 2019 at 11:58am Does Bobbi do bed and breakfast?
Back to top	Please don't thank me. Effusive fawning and obeisance of disciples, mendicants, and foot-kissers embarrass me. IP Logged

Mattyfisk

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Re: AUSTRALIA Armageddon: House price could fall 50%
Reply #19 - May 25^th, 2019 at 12:49pm

Laugh till you cry wrote on May 24^th, 2019 at 12:54pm:

Be very afraid.

Incoming! The feces is airborne and the fan is switched on.

Australian property investment has been based on continuous wage inflation which is no longer happening.

A modest rise in interest rates will see massive bailouts from ordinary Australians who can't afford their home.

Housing Armageddon is coming to a home near you.

https://www.propertynoise.co.nz/australia-property-armageddon-house-prices-could...

Quote:

AUSTRALIA: Property ‘armageddon’: House prices could fall by 50 per cent
ON: APRIL 16, 2019

Prices in some areas of Sydney and Melbourne are set to tumble even further by 2022, with experts predicting the worst is yet to come.

With Sydney and Melbourne’s falling house prices infecting other capitals such as Brisbane, Darwin and Perth, some doomsayers say property prices could slump by as much as 50 per cent by 2022.

Digital Finance Analytics chief Martin North says Sydney and Melbourne houses will suffer price falls of 20 to 30 per cent, while high-rise units could slide by up to 50 per cent from their peak prices in 2017.

Moody’s Analytics released forecasts last week showing property price corrections in Melbourne and Sydney could be deeper than earlier predictions.

Moody’s says house prices in 2019 will fall in the following five cities: Melbourne (down 11.4 per cent), Sydney (down 9.3 per cent), Perth (down 7.7 per cent), Darwin (down 2.7 per cent) and Brisbane (down 0.6 per cent). It’s a happier story in Hobart (up 4 per cent), Canberra (up 3.2 per cent) and Adelaide (up 1 per cent)

It's about time.

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Mattyfisk Gold Member Offline Australian Politics Posts: 92377 Gender:	Re: AUSTRALIA Armageddon: House price could fall 50% Reply #20 - May 25^th, 2019 at 12:50pm greggerypeccary wrote on May 24^th, 2019 at 1:12pm: Laugh till you cry wrote on May 24^th, 2019 at 12:54pm: Incoming! The feces is airborne and the fan is switched on. Miam miam.
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Grappler Truth Teller Feller

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Re: AUSTRALIA Armageddon: House price could fall 50%
Reply #21 - May 25^th, 2019 at 8:46pm

Bobby. wrote on May 24^th, 2019 at 5:57pm:

John Smith wrote on May 24^th, 2019 at 5:54pm:

Bobby. wrote on May 24^th, 2019 at 5:49pm:

It depends on the condition of the house:
Australia’s cheapest house revealed: Country property sitting on 500-square-metre block
is going for less than the price of an old used car -
but it’ll need some work.

https://www.dailymail.co.uk/news/article-7047787/Australias-cheapest-house-sitti...

https://i.dailymail.co.uk/1s/2019/05/20/02/13700002-7047787-image-a-24_155831474...

do you need the bubble to burst before you can afford that $7000 house bobby?

No but I can afford a cardboard box outside of Safeway.

A homeless Veteran once set up in a dumpster outside the DVA building - they came down, invited him in, and he was housed and on the way to pension almost instantly.

Public scrutiny of their slowness and attitude works wonders...

“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
― John Adams

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