Are you naive enough to think that will change? It has always been the banks who gain the most. You and I have/had two choices we buy where there is some hope of a return or we rent from the rich with no hope of any returns.
Sitting around complaining about the banks squeezing the max from homebuyers ain't gonna put a roof over your head.
Things will change without a doubt. Wether you believe it or not goes back to what Veritas refers to you as. If you lost everything and had to start again now with prices where they are would you do it? I think not . It's your arrogant views you put forward that make you so unlikeable. What shits me the most about you is that you sit there accusing bears of wanting a crash to feather their own nests. What I want is a return to affordability. Your problem is that it would affect your personal wealth. The argument goes no further than that. So who's right? So you bought a house years ago when affordability was far better than it is today. You, like my parents were lucky enough to have that advantage. Sure there's been ups and downs over the last 3 decades but having that head start makes a difference in your ability to get to where you have now. Preaching to those who won't buy now because they perceive the market as too expensive is arrogance in it's highest form. Living in an economy that promotes high cost housing is a recipe for disaster. It's obvious as your mortgage takes up a greater proportion of your income, spending in other areas get cut. not good for any economy.
So you bought a house years ago when affordability was far better than it is today. You, like my parents were lucky enough to have that advantage. Sure there's been ups and downs over the last 3 decades but having that head start makes a difference in your ability to get to where you have now.
This is a lie sold to you by unscrupulous people, Mango.
Housing is more affordable today than it was a decade ago, and prior to tha,t in the last 3 decades, there were only 2 other short periods when housing was as affordable as it is today.
You have been sold a fairy tale. These doomers tell you that the house your parents bought should be priced the same today relative to income as if it was still located in the smaller city with less infrastructure and less competition to live in this location.
What they are asking for is a hugely better deal on affordability than that which was available to us.
They won't get it because they are greedy and unfortunately most of the time people who get too greedy risk too much and end up losing money. Whether it is bottom feeding vultures like Keen or greedy property speculators flipping at the peak of a boom.
If you want a house priced the same relative to income as it was a decade ago you have to buy a house in a similar population density and wealth to the one which was available back then.
In my uncles day, they could afford centennial park, we could afford Coogee (as our 4th step on the property ladder) if we had sat around whining that centennial park was no longer affordable for us we would have missed out on the growth we have benefited from in Coogee.
Look at the great capital gains in western Sydney that we are witnessing at the moment, they are higher than those for the eastern suburbs. The moaners and groaners crying for a house in the eastern suburbs on a western suburbs budget are missing out on exactly the same gains our generation and the previous generations had.
Prices are still lower in most cities than they were in 2010, if folk miss the boat by getting too greedy they have only themselves to blame. IMHO, the price falls are over for this cycle and the market is returning to normality, the odds are very low indeed that prices will go backwards again in this economy.
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.
This is a lie sold to you by unscrupulous people, Mango.
Housing is more affordable today than it was a decade ago, and prior to tha,t in the last 3 decades, there were only 2 other short periods when housing was as affordable as it is today.
You have been sold a fairy tale. These doomers tell you that the house your parents bought should be priced the same today relative to income as if it was still located in the smaller city with less infrastructure and less competition to live in this location.
What they are asking for is a hugely better deal on affordability than that which was available to us.
They won't get it because they are greedy and unfortunately most of the time people who get too greedy risk too much and end up losing money. Whether it is bottom feeding vultures like Keen or greedy property speculators flipping at the peak of a boom.
If you want a house priced the same relative to income as it was a decade ago you have to buy a house in a similar population density and wealth to the one which was available back then.
In my uncles day, they could afford centennial park, we could afford Coogee (as our 4th step on the property ladder) if we had sat around whining that centennial park was no longer affordable for us we would have missed out on the growth we have benefited from in Coogee.
Look at the great capital gains in western Sydney that we are witnessing at the moment, they are higher than those for the eastern suburbs. The moaners and groaners crying for a house in the eastern suburbs on a western suburbs budget are missing out on exactly the same gains our generation and the previous generations had.
Prices are still lower in most cities than they were in 2010, if folk miss the boat by getting too greedy they have only themselves to blame. IMHO, the price falls are over for this cycle and the market is returning to normality, the odds are very low indeed that prices will go backwards again in this economy.
You keep making this bullshit up, but provide no solid evidence.
Prices are still lower in most cities than they were in 2010, if folk miss the boat by getting too greedy they have only themselves to blame. IMHO, the price falls are over for this cycle and the market is returning to normality, the odds are very low indeed that prices will go backwards again in this economy.
This is precisely why you can't be taken seriously. You need help
You are brainwashed by the gloomers, earthsta. Do you pay macrobusiness to do this for ya so that you can live in a fantasy land where 70 % of the population who are home owners are just desperate to sell you their biggest investment at a 40% discount? What a joke, you propertyless cheap-house-dreamers are mostly just a bunch of losers hanging around expecting a handout from others who work hard and invest their money and effort into their homes. It ain't gonna happen
I have shown ABS statistics many times to demonstrate my points. You just shut your eyes and cry "no no it cannot be true who will give me a cheap house if everyone is not debt loaded"
Property has always behaved in the way I describe, once or twice in a lifetime will you be able to buy at significantly less that others have bought for. One such time has just passed and it looks like ya missed it with your greedy slobbering for more more more. Ya have no-one but yourself to blame.
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.
Things will change without a doubt. Wether you believe it or not goes back to what Veritas refers to you as. If you lost everything and had to start again now with prices where they are would you do it? I think not . It's your arrogant views you put forward that make you so unlikeable. What shits me the most about you is that you sit there accusing bears of wanting a crash to feather their own nests. What I want is a return to affordability. Your problem is that it would affect your personal wealth. The argument goes no further than that. So who's right? So you bought a house years ago when affordability was far better than it is today. You, like my parents were lucky enough to have that advantage. Sure there's been ups and downs over the last 3 decades but having that head start makes a difference in your ability to get to where you have now. Preaching to those who won't buy now because they perceive the market as too expensive is arrogance in it's highest form. Living in an economy that promotes high cost housing is a recipe for disaster. It's obvious as your mortgage takes up a greater proportion of your income, spending in other areas get cut. not good for any economy.
Mango Can you please elaborate what exactly is your definition of housing affordability .....
What does it mean in your terms? It's not a trick question .
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$ It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do. Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
Things will change without a doubt. Wether you believe it or not goes back to what Veritas refers to you as. If you lost everything and had to start again now with prices where they are would you do it? I think not . It's your arrogant views you put forward that make you so unlikeable. What shits me the most about you is that you sit there accusing bears of wanting a crash to feather their own nests. What I want is a return to affordability. Your problem is that it would affect your personal wealth. The argument goes no further than that. So who's right? So you bought a house years ago when affordability was far better than it is today. You, like my parents were lucky enough to have that advantage. Sure there's been ups and downs over the last 3 decades but having that head start makes a difference in your ability to get to where you have now. Preaching to those who won't buy now because they perceive the market as too expensive is arrogance in it's highest form. Living in an economy that promotes high cost housing is a recipe for disaster. It's obvious as your mortgage takes up a greater proportion of your income, spending in other areas get cut. not good for any economy.
You are brainwashed by the gloomers, earthsta. Do you pay macrobusiness to do this for ya so that you can live in a fantasy land where 70 % of the population who are home owners are just desperate to sell you their biggest investment at a 40% discount? What a joke, you propertyless cheap-house-dreamers are mostly just a bunch of losers hanging around expecting a handout from others who work hard and invest their money and effort into their homes. It ain't gonna happen
I have shown ABS statistics many times to demonstrate my points. You just shut your eyes and cry "no no it cannot be true who will give me a cheap house if everyone is not debt loaded"
Property has always behaved in the way I describe, once or twice in a lifetime will you be able to buy at significantly less that others have bought for. One such time has just passed and it looks like ya missed it with your greedy slobbering for more more more. Ya have no-one but yourself to blame.
Skamy
Perth is gonna have a slowdown the price growth. There has been some interesting suburbs that have been performing very strongly for many years . There has been information that Perths median income is considerably higher than the national reported figures . The trend..its expected to continue for the next decade.
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$ It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do. Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
You are brainwashed by the gloomers, earthsta. Do you pay macrobusiness to do this for ya so that you can live in a fantasy land where 70 % of the population who are home owners are just desperate to sell you their biggest investment at a 40% discount? What a joke, you propertyless cheap-house-dreamers are mostly just a bunch of losers hanging around expecting a handout from others who work hard and invest their money and effort into their homes. It ain't gonna happen
I have shown ABS statistics many times to demonstrate my points. You just shut your eyes and cry "no no it cannot be true who will give me a cheap house if everyone is not debt loaded"
Property has always behaved in the way I describe, once or twice in a lifetime will you be able to buy at significantly less that others have bought for. One such time has just passed and it looks like ya missed it with your greedy slobbering for more more more. Ya have no-one but yourself to blame.
What a foolish woman you are.
You have been here for months but have learned nothing.
Tell me, should we include REIA in with the "doomers". You may have noticed that they are calling for aspirant FTBs to be allowed to raid their super savings in order to buy.
They also note that the home ownership rate has dropped since 2006. Most likely because people are being priced out of the market.
What about the FTB strike? Are they all cashed up greedy bastards waiting for the crash too.
You are the worst kind of fraud Skamy.
Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?
The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly. Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
Perth is gonna have a slowdown the price growth. There has been some interesting suburbs that have been performing very strongly for many years . There has been information that Perths median income is considerably higher than the national reported figures . The trend..its expected to continue for the next decade.
Yes the downtrend should continue for at least the next decade now that iron ore prices peaked last year and the mining boom has finally ended. Unfortunately all booms eventually end, they always do, we had our time in the sun but have very little to show for it thanks to our mindless governments trying to divert money into housing and ruining the economy at the same time. I expect mining wages will drop to about half of what they were during the peak, for the jobs that will be left, anyway, as they are now dissapearing in record numbers. WA is in for a very rocky ride, I expect they will lead the house repossession stats before much longer, keep your eye on it.
Australian Property Forum is an economics and finance forum dedicated to discussion of Australian and global real estate markets and macroeconomics, including house prices, housing affordability, and the likelihood of a property crash. Is there an Australian housing bubble? Will house prices crash, boom or stagnate? Is the Australian property market a pyramid scheme or Ponzi scheme? Can house prices really rise forever? These are the questions we address on Australian Property Forum, the premier real estate site for property bears, bulls, investors, and speculators. Members may also discuss matters related to finance, modern monetary theory (MMT), debt deflation, cryptocurrencies like Bitcoin Ethereum and Ripple, property investing, landlords, tenants, debt consolidation, reverse home equity loans, the housing shortage, negative gearing, capital gains tax, land tax and macro prudential regulation.
Forum Rules:
The main forum may be used to discuss property, politics, economics and finance, precious metals, crypto currency, debt management, generational divides, climate change, sustainability, alternative energy, environmental topics, human rights or social justice issues, and other topics on a case by case basis. Topics unsuitable for the main forum may be discussed in the lounge. You agree you won't use this forum to post material that is illegal, private, defamatory, pornographic, excessively abusive or profane, threatening, or invasive of another forum member's privacy. Don't post NSFW content. Racist or ethnic slurs and homophobic comments aren't tolerated. Accusing forum members of serious crimes is not permitted. Accusations, attacks, abuse or threats, litigious or otherwise, directed against the forum or forum administrators aren't tolerated and will result in immediate suspension of your account for a number of days depending on the severity of the attack. No spamming or advertising in the main forum. Spamming includes repeating the same message over and over again within a short period of time. Don't post ALL CAPS thread titles. The Advertising and Promotion Subforum may be used to promote your Australian property related business or service. Active members of the forum who contribute regularly to main forum discussions may also include a link to their product or service in their signature block. Members are limited to one actively posting account each. A secondary account may be used solely for the purpose of maintaining a blog as long as that account no longer posts in threads. Any member who believes another member has violated these rules may report the offending post using the report button.
Australian Property Forum complies with ASIC Regulatory Guide 162 regarding Internet Discussion Sites. Australian Property Forum is not a provider of financial advice. Australian Property Forum does not in any way endorse the views and opinions of its members, nor does it vouch for for the accuracy or authenticity of their posts. It is not permitted for any Australian Property Forum member to post in the role of a licensed financial advisor or to post as the representative of a financial advisor. It is not permitted for Australian Property Forum members to ask for or offer specific buy, sell or hold recommendations on particular stocks, as a response to a request of this nature may be considered the provision of financial advice.
Views expressed on this forum are not representative of the forum owners. The forum owners are not liable or responsible for comments posted. Information posted does not constitute financial or legal advice. The forum owners accept no liability for information posted, nor for consequences of actions taken on the basis of that information. By visiting or using this forum, members and guests agree to be bound by the Zetaboards Terms of Use.
This site may contain copyright material (i.e. attributed snippets from online news reports), the use of which has not always been specifically authorized by the copyright owner. Such content is posted to advance understanding of environmental, political, human rights, economic, democratic, scientific, and social justice issues. This constitutes 'fair use' of such copyright material as provided for in section 107 of US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed for research and educational purposes only. If you wish to use this material for purposes that go beyond 'fair use', you must obtain permission from the copyright owner. Such material is credited to the true owner or licensee. We will remove from the forum any such material upon the request of the owners of the copyright of said material, as we claim no credit for such material.
Privacy Policy: Australian Property Forum uses third party advertising companies to serve ads when you visit our site. These third party advertising companies may collect and use information about your visits to Australian Property Forum as well as other web sites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here: Google Advertising Privacy FAQ
Australian Property Forum is hosted by Zetaboards. Please refer also to the Zetaboards Privacy Policy
