Ever needed proof of the real estate bubble in Australia? A quick look at the costs of 1 bedroom apartments in some major Australian cities shows up some shocking examples of how bad the bubble has become.
How about $1.5M for a shoe box in Sydney? Or perhaps enjoy a luxurious closet in Melbourne or Brisbane for 950k? Look at those prices! Something to be proud of Australia! Not only have we convinced ourselves it is, we actually have enough morons willing to pay these kinds of prices for a coffin sized tomb with a view.
Pat yourselves on the back, nothing says financial savvy like loading up on debt in one of the worlds most expensive, trade exposed countries in the world on the cusp of a Chinese and global slowdown!
I mean you wouldn't want your disposable cash going to your local business owner employing Australians, or worse still, into manufacturing, industry innovation or diversification now would you!?!?! No, no, no, it would be un-Australian not to donate all of your disposable income to the banks, real estate agents and corrupt developers!
Just in case you start to question the premise of giving as much money to your favorite millionaire fat cat, lets look at some other terrifying outcomes of waking from your real estate induced zombie state!
This might scare some bulls so look away: "Affordable housing for young Australians", "More Australians owning Australian homes then overseas investors", "Having a life and a mortgage", "Money invested in Australian business", "Reducing reliance on mining sector"! Hope you these ideas didn't scare too many, I know, they are deeply un-Australian and truly troubling concepts.
Anyway, enough "doom-saying", and pray for prices rises in our little million dollar shoe boxes. 2 minute noodles for dinner again?
POP
After a bubble has burst, no one denies that it existed. But before it does, the popular refrain is that though bubbles existed elsewhere in the world, “there’s no bubble here”. So housing bubbles are admitted to have existed in Japan, the USA, Spain and Ireland – because they’ve already burst.
A quick look at the costs of 1 bedroom apartments in some major Australian cities shows up some shocking examples of how bad the bubble has become.
How about $1.5M for a shoe box in Sydney?
Median sydney unit is 497k on the chart at the bottom of the page, that would include 2 & 3 bedders, I'd expect the avg 1 bedder to cost less, $400k... dunno where you're getting 1.5 mil from, might be a few percent of 1 bedders cost that much, the luxury ones
Ever needed proof of the real estate bubble in Australia? A quick look at the costs of 1 bedroom apartments in some major Australian cities shows up some shocking examples of how bad the bubble has become.
How about $1.5M for a shoe box in Sydney? Or perhaps enjoy a luxurious closet in Melbourne or Brisbane for 950k? Look at those prices! Something to be proud of Australia! Not only have we convinced ourselves it is, we actually have enough morons willing to pay these kinds of prices for a coffin sized tomb with a view.
Pat yourselves on the back, nothing says financial savvy like loading up on debt in one of the worlds most expensive, trade exposed countries in the world on the cusp of a Chinese and global slowdown!
I mean you wouldn't want your disposable cash going to your local business owner employing Australians, or worse still, into manufacturing, industry innovation or diversification now would you!?!?! No, no, no, it would be un-Australian not to donate all of your disposable income to the banks, real estate agents and corrupt developers!
Just in case you start to question the premise of giving as much money to your favorite millionaire fat cat, lets look at some other terrifying outcomes of waking from your real estate induced zombie state!
This might scare some bulls so look away: "Affordable housing for young Australians", "More Australians owning Australian homes then overseas investors", "Having a life and a mortgage", "Money invested in Australian business", "Reducing reliance on mining sector"! Hope you these ideas didn't scare too many, I know, they are deeply un-Australian and truly troubling concepts.
Anyway, enough "doom-saying", and pray for prices rises in our little million dollar shoe boxes. 2 minute noodles for dinner again?
POP
Timo one bed units in the Brisbane CBD sell for under $300K
You do your argument little good by constantly pointing at extreme examples.
Here is a very ordinary one bed of just 40 Sqm in NYC being snapped up above the asking price.
Ever needed proof of the real estate bubble in Australia? A quick look at the costs of 1 bedroom apartments in some major Australian cities shows up some shocking examples of how bad the bubble has become.
How about $1.5M for a shoe box in Sydney? Or perhaps enjoy a luxurious closet in Melbourne or Brisbane for 950k? Look at those prices! Something to be proud of Australia! Not only have we convinced ourselves it is, we actually have enough morons willing to pay these kinds of prices for a coffin sized tomb with a view.
THIS this one is almost 9 squares for 388k and is very close to what used to be one of melbournes finest kebab shops (lambs). It's not my cup of tea and I don't know what the body corp is like but the kebabs used to be killer
i followed miw to said casino but lost all my fckn money before i made it to the bar
Yes timo 1.5 million is a lot to buy a bedroom , and a lot to remove from a dying economy in need of some boost. But guess what its not 1.5 million: unless you have the cash ready to go. If not that's 1.5 million plus interest taken from the economy . Probably closer to 3 million with interest included that has been taken from the economy timo.
Point remains, prices have got out of control, the correction will be brutal and hopefully ignorant Australians will learn a long needed lesson in rationality.
After a bubble has burst, no one denies that it existed. But before it does, the popular refrain is that though bubbles existed elsewhere in the world, “there’s no bubble here”. So housing bubbles are admitted to have existed in Japan, the USA, Spain and Ireland – because they’ve already burst.
Point remains, prices have got out of control, the correction will be brutal and hopefully ignorant Australians will learn a long needed lesson in rationality.
Your argument is that because a few high spec well located luxury units are being marketed at a high price, then the price of all units is out of control.
I could equally say that the price of a new Ferrari has skyrocketed and so the price of all cars is beyond the average car buyer, but it wouldn't be correct. I saw a new Chery J1 being advertised for $9990 drive away - http://www.cherymotors.com.au/
There are actually some great buys available in Brisbane and surrounds at the moment.
Any expressed market opinion is my own and is not to be taken as financial advice
Your argument is that because a few high spec well located luxury units are being marketed at a high price, then the price of all units is out of control.
I could equally say that the price of a new Ferrari has skyrocketed and so the price of all cars is beyond the average car buyer, but it wouldn't be correct. I saw a new Chery J1 being advertised for $9990 drive away - http://www.cherymotors.com.au/
There are actually some great buys available in Brisbane and surrounds at the moment.
I'm not sure how this comments addresses the issue?
Prices are out of control, in dangerous bubble territory and on account of a ponzi scheme.
After a bubble has burst, no one denies that it existed. But before it does, the popular refrain is that though bubbles existed elsewhere in the world, “there’s no bubble here”. So housing bubbles are admitted to have existed in Japan, the USA, Spain and Ireland – because they’ve already burst.
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