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Australian housing, like everywhere else, is affordable; It is envy based entitlement nonsense to say otherwise
Topic Started: 3 Apr 2012, 09:37 AM (7,113 Views)
Aussiehouseprices
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NotFooled
3 Apr 2012, 02:30 PM
Sellers aren't "rushing for the exits" and clearance rates have started trending upwards again.
Clearance rates are lower than the same time last year, when house prices were falling.
Aussie House Prices blog
Latest post: Real Estate 101 - Lecture 1: Never use the "F" word
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Aussiehouseprices
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I agree with the OP in that there is generally some kind of housing that almost everyone can afford to buy.

But I think that misses the point about affordability.

Dictionary.doc defines "afford" as: "to be able to do, manage, or bear without serious consequence or adverse effect".

Buying a home with a 3% deposit is the easy part. Successfully getting through the next 25-30 years of fluctuating interest rates, recessions, changing family situations etc is the real test of affordability.

Aussies have been buying expensive houses due to the mistaken believe the prices only go up and that, if you don't buy now, you will miss the boat.

And I have a strong feeling that many people will soon find out that they were also mistaken in their belief that they could "afford" the mortgages they've been taking out.
Edited by Aussiehouseprices, 3 Apr 2012, 10:46 PM.
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Rastus2
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Frank Castle
3 Apr 2012, 06:00 PM
What a fucken sook

Did you ever thing that if you bought now, before the next boom you would be in the same position and then having to put up with the next bunch of whiney bitches crying like you are now?
Why not turn it around ?

Why should the current non-owners of houses have to listen to the whiney bitches demanding the government support housing prices just because they bought before prices went down ?

Why should they have to listen to stupid 'fucken sooks' whinging that interest rates are to high... they got variable rates so tough luck bitch..

All I hear from the bulls here is that the government will, and should do everything it can to support house prices ... yourself included.


Your 'fucken sooks' insult is coming from the biggest sook on the forum.

Talk about pot calling the kettle black :re:
Edited by Rastus2, 3 Apr 2012, 11:10 PM.
Shadow - Defrauded his Bank ? 2015 I have 9 different loans and my bank had no idea which ones were personal and which were investment. They had half of them classed incorrectly. When this change came in they asked me to tell them if any personal loans were incorrectly classed as investment, which I did, and they switched them to personal for the lower rate. They also had a couple of investment loans incorrectly classed as personal. They didn't ask me about those. So they stay on the lower rate too. Worked out pretty well. :)
Shadow - 2008 Sydney Median House Price 1.25M by 2014-2015

Shadow : I think this boom has already begun in several cities. My prediction :
Peak of boom: 2014-2015. Sydney Median Price: $1,250,000 Bottom of bust: 2017-2018. Sydney Median Price: $1,100,000

Shadow's Original 2010 House Boom and Crash prediction http://s836.photobucket.com/user/rastus22/media/shady-orig-2010-chart.png.html?sort=3&o=0

Shadow's attempt to edit his 2010 chart in 2015 and replace it with one that does not show a crash in 2013 http://s836.photobucket.com/user/rastus22/media/Screen%20Shot%202015-06-06%20at%207.12.52%20pm_1.png.html
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nipa hut
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Shadow
3 Apr 2012, 04:05 PM
What is your alternative to living in a house?

1) Living in less of a house: a smaller one, and/or on a smaller lot, or in a strata-titled unit instead.

2) Not (entirely) owning the house: renting it, or taking out a risk-sharing mortgage, or a reverse mortgage.

3) Sharing a house: taking in boarders, or renting out the granny flat, or parcelling it out room-by-room (popular in the Pilbara, apparently)

Bulls always rally around the "everyone needs accommodation" axiom. But they rarely address the "if something becomes expensive, people learn to make do with less of it" axiom.
Edited by nipa hut, 3 Apr 2012, 11:11 PM.
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Rastus2
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Strindberg
3 Apr 2012, 09:37 AM
Australian housing is affordable. As it is in UK, Mongolia, Greece, Hong Kong, Nigeria and in all other parts of the world where people obtain dwelling shelter. People purchase, rent or share the housing they want and can afford. What they can afford varies throughout the world based on incomes and the cost of provision of housing.

In some countries people live in mud huts. It is what they can afford based on their income and the cost of the provision of housing. In some countries people live mostly in high density high rise tenement blocks. It is what they can afford based on their income and the cost of the provision of housing. In some countries people live in small terraced houses. It is what they can afford based on their income and the cost of the provision of housing. Housing is everywhere affordable.

In Australia many people live in large detached houses with four bedrooms and an extra bedroom for their cars, together with at least two bathrooms, a theatre room and a swimming pool. It is what they can afford based on their income and the cost of provision of such housing.

If people want but cannot afford a detached four bedroom house they buy or rent something less. They buy or rent what they can afford. There is always some housing available that can be afforded by people even on a minimum wage.

The issue of affordability is about the level of housing that people can afford. It is not about all housing being unaffordable. Australian housing in terms of size and facilities is superior to most countries in the whole world. Australia is probably the last country in the world where its citizens should be whinging about housing affordability. Affordability in Australia reduces to “Sheila, it's not fair, but we can't afford that lovely place in Point Piper”.
Picasso's paintings are affordable.. people buy them so they must be

Shadow - Defrauded his Bank ? 2015 I have 9 different loans and my bank had no idea which ones were personal and which were investment. They had half of them classed incorrectly. When this change came in they asked me to tell them if any personal loans were incorrectly classed as investment, which I did, and they switched them to personal for the lower rate. They also had a couple of investment loans incorrectly classed as personal. They didn't ask me about those. So they stay on the lower rate too. Worked out pretty well. :)
Shadow - 2008 Sydney Median House Price 1.25M by 2014-2015

Shadow : I think this boom has already begun in several cities. My prediction :
Peak of boom: 2014-2015. Sydney Median Price: $1,250,000 Bottom of bust: 2017-2018. Sydney Median Price: $1,100,000

Shadow's Original 2010 House Boom and Crash prediction http://s836.photobucket.com/user/rastus22/media/shady-orig-2010-chart.png.html?sort=3&o=0

Shadow's attempt to edit his 2010 chart in 2015 and replace it with one that does not show a crash in 2013 http://s836.photobucket.com/user/rastus22/media/Screen%20Shot%202015-06-06%20at%207.12.52%20pm_1.png.html
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Frank Castle
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Business As Usual

Rastus2
3 Apr 2012, 11:07 PM
Why not turn it around ?

Why should the current non-owners of houses have to listen to the whiney bitches demanding the government support housing prices just because they bought before prices went down ?
Show me an instance where I have said that, just one

Quote:
 
Why should they have to listen to stupid 'fucken sooks' whinging that interest rates are to high... they got variable rates so tough luck bitch..


Show me an instance where I have said that, just one


Quote:
 
All I hear from the bulls here is that the government will, and should do everything it can to support house prices ... yourself included.


Show me an instance where I have said that, just one


I suggest you put up or shut up you whiney bitch
Edited by Frank Castle, 4 Apr 2012, 12:08 AM.
Ignore posts by The Whole Truth · View Post · End Ignoring
The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
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economist
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Strindberg
3 Apr 2012, 09:37 AM
Australian housing is affordable. As it is in UK, Mongolia, Greece, Hong Kong, Nigeria and in all other parts of the world where people obtain dwelling shelter. People purchase, rent or share the housing they want and can afford. What they can afford varies throughout the world based on incomes and the cost of provision of housing.

In some countries people live in mud huts. It is what they can afford based on their income and the cost of the provision of housing. In some countries people live mostly in high density high rise tenement blocks. It is what they can afford based on their income and the cost of the provision of housing. In some countries people live in small terraced houses. It is what they can afford based on their income and the cost of the provision of housing. Housing is everywhere affordable.

In Australia many people live in large detached houses with four bedrooms and an extra bedroom for their cars, together with at least two bathrooms, a theatre room and a swimming pool. It is what they can afford based on their income and the cost of provision of such housing.

If people want but cannot afford a detached four bedroom house they buy or rent something less. They buy or rent what they can afford. There is always some housing available that can be afforded by people even on a minimum wage.

The issue of affordability is about the level of housing that people can afford. It is not about all housing being unaffordable. Australian housing in terms of size and facilities is superior to most countries in the whole world. Australia is probably the last country in the world where its citizens should be whinging about housing affordability. Affordability in Australia reduces to “Sheila, it's not fair, but we can't afford that lovely place in Point Piper”.
This post is nonsense.

Whats your point? The vendor sets the price and the purchaser simply pays it?

This is not the way a market functions.

Whilst the laws of supply and demand are somewhat skewed in the R/E market due to the liquidity issues they remain robust in the long term...the timelines simply extend.

The issue of funding remains at the forefront of the current market. This will govern the movements moving forward.

Look for a reduction in the cash rate at the next RBA meeting. This has little to do with the retail or employment figures but everything to do with reducing the value of the $aus.



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wern
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I also agree that the OP is pointless.

Shadow
 
By choosing to rent, somebody still needs to own the house you are renting. Your demand for rental accommodation places upwards pressure on rents and helps to make investing in property more attractive to others.

The fact that people will always need a home is already reflected in house prices. And they can still crash. Look at Ireland, Spain, US, UK. Poeple selling their homes in order to become renters didn't prevent crashes in those countries.
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TED BULLPIT
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Frank Castle
3 Apr 2012, 06:00 PM
What a fucken sook

Did you ever thing that if you bought now, before the next boom you would be in the same position and then having to put up with the next bunch of whiney bitches crying like you are now?
Another great start to another great day, right Mr Castle :D
You have extended your vocabulary recently. You sound more bitter and tormented than usual. Hopefully you can pay down your first IP before entering the nursing home shortly :lol
Just a fact to start your day with Mr Castle : Rental vacancies UP 8.4% YOY :D

There have been some good bear posts here, great work boys :D
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wern
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TED BULLPIT
4 Apr 2012, 07:41 AM
Another great start to another great day, right Mr Castle :D
You have extended your vocabulary recently. You sound more bitter and tormented than usual. Hopefully you can pay down your first IP before entering the nursing home shortly :lol
Just a fact to start your day with Mr Castle : Rental vacancies UP 8.4% YOY :D

There have been some good bear posts here, great work boys :D
Ted, as was stated before, an increase of 8% on a vacancy level of 2% doesn't affect the average property investor.

Also:
Rental vacancies drop in Sydney and Newcastle: http://www.reinsw.com.au/Rental-vacancy-rates-lose-ground-in-Sydney-and-Newcastle/default.aspx
Stockland predicts rent crisis in Perth as vacancy rates are too low: http://news.ninemsn.com.au/article.aspx?id=8446120
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