Huh? Sydney house prices are up 50% in three years. Up in US dollars too, even though that's of no relevance whatsoever.
(Hint: Australians don't buy Australian assets using foreign dollars. Think about it. )
foxbat has his own private language including his own personal movable definition of the well established term "real terms". He will adjust his personal definition according to whatever suits his doom prediction.
Huh? Sydney house prices are up 50% in three years. Up in US dollars too, even though that's of no relevance whatsoever.
(Hint: Australians don't buy Australian assets using foreign dollars. Think about it.
Oh Really, no money borrowed from oversea???
)
That's interesting, It was a thread on Perth dropping 40% in real terms. So Sydney is up. Hmmm, now let me think about that.
Yep, dumb and dumber has spoken...
skamy
19 Jan 2016, 12:21 PM
Nice rhetoric Jimbo. The only trouble is that the waves have not been building to a crescendo they have been flat as a pancake for almost a decade.
This is just not true. You will take on very similar debt repayments to income as your parents.
You want to wipe out all the city growth that your parents witnessed and get a home in a much bigger city for the same price today. That is completely unreasonable.
We could not afford to buy where our parents bought either that is just the consequences of living in a growing city. We still did as well as our parents as the city growth continued.
The young Sydneysiders who bought on Rudds FHB grants in 2012 have seen better capital growth than your parents could have dreamed off in their first few years of home ownership.
My Uncle could have bought a big house in Centennial Park for $25K in the 60s/70s do you seriously think big houses in Centennial Park will ever be affordable to building site labourers again?
You should sanity test some of your notions Chris before you get left behind like the legions of eternal doomsters from the 90s who are now renting way out is Sydney's western suburbs. What rubbish? I have never ever been asked to fill in such information in my life. You make up some right tales sometimes Jimbo. Sheesh you are totally crazy.
Who the heck borrows 8 times their wage? No bank ever would lend under those conditions.
People borrow such that the cost of servicing is about 30% of their income.
Where on earth do you guys get this silly nonsense from.
Banks did some crazy stuff during the boom.
Peter
skamy
20 Jan 2016, 01:24 AM
wriggle wriggle
You called it wrong Peter cop it sweet.
Are you claiming that your 40% crash has been and gone.
Been but not gone... I think it will be here for a while yet...
These are some of the worst economic indicators we have seen in just under a decade, they are showing us glimpses of another global depression and you lot seem to think it's inconsequential to the Austealian economy and the overall house prices.
The fact that you won't concede these headwinds just makes you appear stupid or stupidly stubborn, it's impossible to work out which one applies.
These are some of the worst economic indicators we have seen in just under a decade, they are showing us glimpses of another global depression and you lot seem to think it's inconsequential to the Austealian economy and the overall house prices.
The fact that you won't concede these headwinds just makes you appear stupid or stupidly stubborn, it's impossible to work out which one applies.
Your got it in one, in fact i was a young bloke in the 1970's i am seeing similarities with that time.
You see i only try to provoke, so people will think.
Houses in Australia have become religious icons with values that a nonreligious person just can not fathom.
The true believers just keep says and chanting things like house prices never go down and safe as houses.
It becomes a mantra.
Then leaves the rational logical economic environment.
And a whole industry is developed.
The last person to challenge such a construct got one hell of a day spa treatment.
We live in a country where the average people can never buy and pay for a house.
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