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35% Deposits will become the norm; How will first home buyers ever win?
Topic Started: 10 Aug 2017, 09:02 AM (1,335 Views)
DragonGM
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80+ suburbs already require it. As banks seek to protect their assets (loans) I can see this becoming more mainstream. First home buyers will keep chasing the illusive dream and the market will become ever more dependent on the investor.

http://www.news.com.au/finance/real-estate/sydney-nsw/citi-reveals-postcodes-where-buyers-need-35-per-cent-deposits/news-story/a49f97693377277a149a00554117d06a
Edited by DragonGM, 10 Aug 2017, 09:02 AM.
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Ex BP Golly
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DragonGM
10 Aug 2017, 09:02 AM
80+ suburbs already require it. As banks seek to protect their assets (loans) I can see this becoming more mainstream. First home buyers will keep chasing the illusive dream and the market will become ever more dependent on the investor.

http://www.news.com.au/finance/real-estate/sydney-nsw/citi-reveals-postcodes-where-buyers-need-35-per-cent-deposits/news-story/a49f97693377277a149a00554117d06a
Sounds like what happened in Ireland.
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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Rat
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Filthy Rodent

Ex BP Golly
10 Aug 2017, 09:12 AM
Sounds like what happened in Ireland.
Irish house prices are up 58% over the past five years...

https://www.rte.ie/news/business/2017/0809/896200-property-prices-outside-dublin-growing-at-fastest-rate/

From their post-crisis low in early 2013, Irish property prices have risen by more than half (58.4%). During this time Dublin prices have jumped by 73.8%, while the increase for the Rest of Ireland has been 50.4%.
Edited by Rat, 10 Aug 2017, 10:46 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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Foxy
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Zero is coming...

DragonGM
10 Aug 2017, 09:02 AM
80+ suburbs already require it. As banks seek to protect their assets (loans) I can see this becoming more mainstream. First home buyers will keep chasing the illusive dream and the market will become ever more dependent on the investor.

http://www.news.com.au/finance/real-estate/sydney-nsw/citi-reveals-postcodes-where-buyers-need-35-per-cent-deposits/news-story/a49f97693377277a149a00554117d06a
It is the big business that wins, the hairy little monkey just runs faster for his master...
Rat
10 Aug 2017, 09:17 AM
Irish house prices are up 50% over the past five years...

http://www.irishexaminer.com/ireland/house-prices-up-50-since-market-bottomed-out-450009.html

House prices up 50% since market bottomed out

House prices have increased by more than half since they bottomed out in early 2013, according to new figures from the Central Statistics Office (CSO).

The CSO’s Residential Property Price Index for March 2017 show that prices rose nationally by 9.6% in the 12 months up to last March, and by 50.4% since their lowest point in 2013.
How did that turn out for them last time???
Edited by Foxy, 10 Aug 2017, 09:36 AM.
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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Ex BP Golly
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Rat
10 Aug 2017, 09:17 AM
Irish house prices are up 50% over the past five years...

http://www.irishexaminer.com/ireland/house-prices-up-50-since-market-bottomed-out-450009.html

House prices up 50% since market bottomed out

House prices have increased by more than half since they bottomed out in early 2013, according to new figures from the Central Statistics Office (CSO).

The CSO’s Residential Property Price Index for March 2017 show that prices rose nationally by 9.6% in the 12 months up to last March, and by 50.4% since their lowest point in 2013.
Indeed they are up over 50%, but many, as would have occurred to you, were completely wiped out by the crash.

Crashes exist so some are able to transfer wealth from people like you.

It's like stealing candy from babies.
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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Rat
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Filthy Rodent

Ex BP Golly
10 Aug 2017, 10:02 AM
It's like stealing candy from babies.
Jimbo style?

https://www.rte.ie/news/business/2017/0809/896200-property-prices-outside-dublin-growing-at-fastest-rate/

"From their post-crisis low in early 2013, Irish property prices have risen by more than half (58.4%). During this time Dublin prices have jumped by 73.8%, while the increase for the Rest of Ireland has been 50.4%."
Edited by Rat, 10 Aug 2017, 10:47 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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Ex BP Golly
10 Aug 2017, 10:02 AM
Crashes exist so some are able to transfer wealth from people like you.
In all the ones that I've lived through, invariably it's poor working people who get hit hard in a crash, and those assets then get bought by more wealthy people at fire sale prices.

People who hope for a crash either don't understand them or they are callous by nature.

Take risks - if you win you will become wealthy, if you lose you will become wise
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Ex BP Golly
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Rufus
10 Aug 2017, 10:34 AM
In all the ones that I've lived through, invariably it's poor working people who get hit hard in a crash, and those assets then get bought by more wealthy people at fire sale prices.

People who hope for a crash either don't understand them or they are callous by nature.
Crashes are necessary, they remove the complacency and hubris that undermine efficiency in an economy.

And it's always the paper 'rich' that are smashed.

The poor generally survive quiet well, especially the rural poor.

WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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Rufus
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Ex BP Golly
10 Aug 2017, 10:48 AM
Crashes are necessary, they remove the complacency and hubris that undermine efficiency in an economy.

And it's always the paper 'rich' that are smashed.

The poor generally survive quiet well, especially the rural poor.
You have absolutely no idea.
Take risks - if you win you will become wealthy, if you lose you will become wise
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Simon_S
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Rat
10 Aug 2017, 09:17 AM
Irish house prices are up 58% over the past five years...

That chart shows they aren't even back to their 2005 level.......12 years later...... :lol

What an awesome investment that is....... :lol

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