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Sydney homes cheaper than HK, Mumbai, Beijing, Shanghai, London, Tokyo, Singapore, Paris, NYC, Seoul; Sydney more affordable than most other Global Cities means plenty of upside potential for property prices
Topic Started: 19 Jan 2017, 12:56 PM (2,201 Views)
Ex BP Golly
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Khaderbhai
21 Jan 2017, 03:18 PM
Interesting. What made you change your mind?
It's more sarcasm pointing out what a fukwit you are Shoddy.
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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Khaderbhai
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Ex BP Golly
21 Jan 2017, 10:49 PM
It's more sarcasm pointing out what a fukwit you are Shoddy.
By revealing that he thought income to value ratios were irrelevant, he pointed what a fukwit Shoddy is? How so?
Banks can't repossess your home simply because the market value falls. Australia's Consumer Credit Code says consumers aren't liable for things ordinarily outside their control and can't be held to obligations that could only be met by selling their home. Click for details.

"The truth is that there are no good men, or bad men. It is the deeds that have goodness or badness in them. There are good deeds, and bad deeds. Men are just men."
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Ex BP Golly
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Khaderbhai
21 Jan 2017, 11:06 PM
By revealing that he thought income to value ratios were irrelevant, he pointed out what a fukwit Shoddy is
Yes.
So tell me, what is unfair about demanding consumers share the risk of financing their borrowings.
Edited by Ex BP Golly, 22 Jan 2017, 09:50 AM.
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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Khaderbhai
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Ex BP Golly
22 Jan 2017, 09:38 AM
Yes.
How so?

Quote:
 
So tell me, what is unfair about demanding consumers share the risk of financing their borrowings.
Consumers already hold the majority of the risk. Why do you think that's unfair?
Edited by Khaderbhai, 22 Jan 2017, 11:47 AM.
Banks can't repossess your home simply because the market value falls. Australia's Consumer Credit Code says consumers aren't liable for things ordinarily outside their control and can't be held to obligations that could only be met by selling their home. Click for details.

"The truth is that there are no good men, or bad men. It is the deeds that have goodness or badness in them. There are good deeds, and bad deeds. Men are just men."
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Bardon
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New York City real estate is on fire.

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https://www.nytimes.com/2016/12/23/realestate/manhattan-real-estate-2016.html?_r=0
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zaph
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Bardon
22 Jan 2017, 12:44 PM
Did you read the article?
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Bardon
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zaph
22 Jan 2017, 01:02 PM
Did you read the article?
Yes and I know its not as hot as Shanghai and Beijing.

Still unaffordable

Wednesday's data showed eye-popping price rises in 2016, despite a slowdown in growth late in the year.

Prices in Shenzhen, Shanghai and Beijing prices rose 23.5 per cent, 26.5 per cent and 25.9 per cent from 2015.

"To buy a house in Shanghai, I definitely can't do it alone, I'd need my parents to help," said 28 year-old Barret Xu, a designer in Shanghai.

Even in some of China's second-tier cities, investors are becoming wary of the potential risks from very high prices.

In Hefei, a long-time top price-rise performer, average new home prices rose 46.3 per cent in 2016, Wednesday's data showed, despite posting a 0.2 price decline on a monthly basis in December.

A Hefei homeowner who only gave his last name as Zhou, who already has three properties in the city, said prices have skyrocketed and he is not willing to bet further on that market.

"The average prices are about 20,000 yuan per square metre and prices are still rising at about 1,000 yuan per month. It's way to high, Hefei is just barely a second-tier city," Zhou said.

"The rich people from Zhejiang province and Shanghai can afford to buy tens and hundreds of houses here, but the locals can't afford that," he said.



Read more: http://www.afr.com/real-estate/residential/china-2016-home-prices-surge-most-in-5-years-but-moderation-eases-bubble-fears-20170118-gttyu4#ixzz4WS7nS3cR
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zaph
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Bardon
22 Jan 2017, 01:15 PM
Yes and I know its not as hot as Shanghai and Beijing.
I doubt you read it. If you did you have comprehension problems.

Do you realise that Manhattan is not NYC?
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Bardon
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zaph
22 Jan 2017, 02:57 PM
Do you realise that Manhattan is not NYC?
Well having lived there for a number of years and in Brooklyn I certainly do.

Dont worry the other boroughs are going gangbusters as well.

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Terry
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Bardon
22 Jan 2017, 03:51 PM
Well having lived there for a number of years and in Brooklyn I certainly do.

Dont worry the other boroughs are going gangbusters as well.
Arguably, the hottest market on the planet is a lot closer to home: Auckland. Houses are making far more than suburbanites' incomes. Most of the suburbanites are in ruptures (except the young, low income and the dispossessed). Consumer spending is going mental with all these newfound riches. They are the poster child of post - GFC economics.
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