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Cold hard facts; Homes have been extremely unaffordable since 2002
Topic Started: 2 Aug 2017, 08:16 AM (1,134 Views)
Chris
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https://www.domain.com.au/news/a-social-crisis-number-of-homeowners-under-40-falls-dramatically-in-four-years-20170802-gxms6e/

See what pathetic reason you blokes come with as to why. Shane Oliver had a go and effectively sounded like a moron, he believes the only notable issue, exponential house price growth, has little to do with it.

Laughable, even in the face of facts there's still a huge denial, the figures are clear.

What will the 2016 census tell us? Maybe 20% or below?
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A Lurker
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Transmutation.
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Ex BP Golly
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A Lurker
2 Aug 2017, 08:30 AM
Transmutation.
Transmutation?

Is that where society wakes up to the fact that baby boomers are moral filth and decides to throw them all into an industrial meat grinder?
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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Chris
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A Lurker
2 Aug 2017, 08:30 AM
Transmutation.
Probably. Everywhere except Perth where it found its origins 😜

The damage to the fabric of our society is immeasurable.
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A Lurker
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Chris
2 Aug 2017, 09:53 AM
Probably. Everywhere except Perth where it found its origins 😜

The damage to the fabric of our society is immeasurable.
It's called the future. Get used to it.
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Rat
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Filthy Rodent

Chris
2 Aug 2017, 08:16 AM
Homes have been extremely unaffordable since 2002
Homes unaffordable for a decade and a half? :wak:

Then how come so many people have bought homes over that period?

Why are repossessions so low if nobody can afford the homes they bought?
Edited by Rat, 2 Aug 2017, 11:03 AM.
Consumer protection laws extended to small businesses. Banks not permitted to repossess due to non-monetary defaults (for example, a fall in the property value).
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Rufus
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Rat
2 Aug 2017, 11:03 AM
Homes unaffordable for a decade and a half? :wak:

Then how come so many people have bought homes over that period?

Why are repossessions so low if nobody can afford the homes they bought?
You are missing the point, they are unaffordable for Chris.
That's his point.
Take risks - if you win you will become wealthy, if you lose you will become wise
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stinkbug
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I bought my first home in 2002. And many more since. I don't think they're unaffordable (except to those with champagne taste on a beer budget).
Ex BP Golly
2 Aug 2017, 09:40 AM


Is that where society wakes up to the fact that baby boomers are moral filth and decides to throw them all into an industrial meat grinder?
This says you're wrong.

http://australianpropertyforum.com/single/?p=10042214&t=30127732
Edited by stinkbug, 2 Aug 2017, 01:38 PM.
---------------------------------------------------------------

While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

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Chris
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Rufus
2 Aug 2017, 11:19 AM
You are missing the point, they are unaffordable for Chris.
That's his point.
Exactly Golly!

Me and apparently 75%+ of those aged under 35yrs of age, soon to be 80% or lower.

Their affordable to the boomer filth, foreign investors and drug barons who keep buying more and more.
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herbie
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"Conclusion
This article analyses the factors influencing long-run
housing price growth in Australia. During the 1980s,
housing price inflation broadly followed general price
inflation in the economy, which was relatively high and
volatile. Following the financial deregulation of the mid
1980s and disinflation of the early 1990s, cheaper and
easier access to finance underpinned a secular increase
in households’ debt-to-income ratio that was closely
associated with high housing price inflation from
the early 1990s until the mid 2000s. The past decade
saw a stabilisation of debt-to-income levels, but also
a prolonged period of strong population growth
– underpinned by high immigration – and smaller
household sizes that led to increases in underlying
demand exceeding the supply of new dwellings.
Looking ahead, it seems unlikely that there will be a
return to the rather extreme conditions of the earlier
episode when significant increases in household debt
supported high housing price growth. Nonetheless,
protracted periods of changes in population growth
that are not met by adjustments in dwelling supply
could lead to periods of sizeable changes in housing
price growth. One important factor for housing price
growth is the ability of the supply of new dwellings
to respond to changes in demand. The significance
of this is made clear by the recent increases in
higher-density housing and lower growth of those
prices relative to prices of detached houses, whose
supply has been less responsive."

Source: https://www.rba.gov.au/publications/bulletin/2015/sep/pdf/bu-0915-3.pdf
Edited by herbie, 2 Aug 2017, 04:24 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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