Well expressed Foxy. The religiosity of it all is all-encompassing.
Simply no end, When Warren Buffet starts buying houses to stay rich i will revisit the notion, until then.... I will use my house for it's intended purpose, to live in...
Not about me Roddy. It's about the spreadeagled suburbanites all battered and bruised. Puppeteer needs to read the article before baiting its traps and launching into a repertoire.
You tell yourself such lies - it is the renters like yourself who are spreadeagled. Year after year you see rent increases - you never get a break. Sensible home buyers see their wages going up and their mortgages going down. Then they have much more free money as time goes buy to invest in shares etc. Renters like you waste fortunes trying to stay in suburbs that are increasing in value as our suburbs grow and never get that big break in your accommodation costs.
You are so kidding yourself believing that there are no consequences to your over fearful view of the world - it will impoverish you relative to your peers over the long term.
Terry
9 Dec 2016, 08:43 PM
Well expressed Foxy. The religiosity of it all is all-encompassing.
That does make me laugh - ordinary people buy homes for shelter and long term investment.
You sell the coming Armageddon from every post you make here. You are forever preaching the evils of debt. You fearmonger from your doomster pulpit threatening dreadful consequences for people just for having expectations of rising above their status.
Definition of a doom and gloomer from 1993 The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
FIRST home buyers are being knocked out of the Perth property market as it becomes even less affordable, despite house prices leveling out.
In a sign that prospective buyers are facing the same problems confronting people in Sydney and Melbourne, the Real Estate Institute’s latest measure of housing affordability has delivered a wake-up call about Perth.
Through the September quarter unaffordability increased by 0.2 percentage points.
It was due to a combination of a lift in average monthly loan repayments which was larger than the $5 a week increase in median family incomes for Perth residents.
According to the institute, a Perth home buyer will spend 22.8 per cent of their family income to meet average loan repayments.
It’s a much different story for those looking to rent where affordability is continuing to dramatically improve.
The sharp drop in rents across the city means a person looking for a property will outlay about 19.2 per cent of their family income. A year ago it was 21.5 per cent.
First time buyers are being knocked out of the market.
There were just 3760 first time buyers in the September quarter, a 15.6 per cent drop on the same time last year and the biggest annual fall in the nation.
Despite that drop, first time buyers are still making up 20 per cent of the overall market.
Nationally, low official interest rates are not helping affordability issues because of soaring prices in Australia’s two largest cities.
In NSW, a person looking to buy needs to outlay 35.5 per cent of their family income to meet a median mortgage. In Victoria it is 30.9 per cent.
Adelaide Bank general manager Damian Percy said the collapse in first time buyers across the nation was worrying.
“The number of Australian first home buyers decreased by 6.7 per cent during the quarter, to 21,825 – a decline of 5.8 per cent compared to the September quarter 2015 and the lowest figure recorded since ABS records began,” he said.
“ To give this some sense of perspective, the number of first home buyers for the quarter has dwindled to a figure now equivalent to the number of lions believed to be left in the wild.”
“ To give this some sense of perspective, the number of first home buyers for the quarter has dwindled to a figure now equivalent to the number of lions believed to be left in the wild.”
So with fewer new people buying houses, and fewer new people arriving, and more people leaving, and more places becoming vacant, you deduct that we are on the cusp of a boom and in the grips of a bear trap?
Fair do's Brown Panties. You were right about everything else.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be rising.
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