ABS 5609.0 - Australian housing finance lifts in July for seventh consecutive month; Signs of a strong recovery, housing finance lifts, rate rise back on agenda
yes, just look to Spain and Ireland for recent examples of this.
Exactly, look what happened to employment when real estate crashed, particularly youth unemployment, it was a disaster for young people, full stop. You guys seem to have this fantasy that you will somehow gain if the market collapses,it is shockingly naive.
You will be happy to know that Ireland is on the mend now and that debunks another bear myth that house prices will stay down when they crash, they just wait a year or so then it is back to business as usual. Young people lose their homes and cash rich folk snap them up at bargain basement prices. Yet naive Aussie kids want a housing crash here, unbelievable.
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.
Building approvals in WA are up a massive 47.4% as of July YoY which dwarfs the increase of any other state. The trend for July was 3.1% increase from June and up 12.5% in the 3 months to July.
Building approvals is the leading indicator as you need building approval with council approved plans and buiiding licence prior to a loan being unconditionally approved and settled.
We will see very strong finance and sales figures comming through for the rest of the year and this was prior to the changes being announced in the state budget.
We bears need to accept we were wrong. It’s not fair. It’s not right. But it’s reality. The housing speculators have once again been bailed out by low interest rates.
Yes, the jobless rate has been rising for over a year now, but that is coinciding with house prices which have also been rising for over a year. Unemployment is doing nothing to prevent the house price inflation with interest rates so low. Look at the jobless rate in the UK and house prices are still rising.
A confident housing sector is great news for employment.
Only if the people who are building the houses are selling to people who don't also have jobs building houses.
So, what are the people who are going to buy the houses going to work at when the arse is being torn out of the economy by debt fuelled property madness?
Mike
9 Sep 2013, 07:19 PM
Building approvals in WA are up a massive 47.4% as of July YoY which dwarfs the increase of any other state. The trend for July was 3.1% increase from June and up 12.5% in the 3 months to July.
Building approvals is the leading indicator as you need building approval with council approved plans and buiiding licence prior to a loan being unconditionally approved and settled.
We will see very strong finance and sales figures comming through for the rest of the year and this was prior to the changes being announced in the state budget.
Its good that we are getting a strong supply response to the increased demand.
hopefully, it doesn't create a supply overhang.
skamy
9 Sep 2013, 05:34 PM
Soul Torpor
9 Sep 2013, 05:07 PM
yes, just look to Spain and Ireland for recent examples of this.
Exactly, look what happened to employment when real estate crashed, particularly youth unemployment, it was a disaster for young people, full stop. You guys seem to have this fantasy that you will somehow gain if the market collapses,it is shockingly naive.
You will be happy to know that Ireland is on the mend now and that debunks another bear myth that house prices will stay down when they crash, they just wait a year or so then it is back to business as usual. Young people lose their homes and cash rich folk snap them up at bargain basement prices. Yet naive Aussie kids want a housing crash here, unbelievable.
Skamy, seriously, please stop commenting on Ireland.
You haven't a fucking clue.
Edit: Here is the point you don't get Skamy. Ill put it in bold, promise to actually think about it now, as hard as that might be for you. Here goes: THE CRASH WASNT THE PROBLEM; THE BUBBLE THAT PRECEEDED IT WAS. THE CRASH WAS THE INEVITABLE RESULT OF THE BUBBLE.
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
Only if the people who are building the houses are selling to people who don't also have jobs building houses.
So, what are the people who are going to buy the houses going to work at when the arse is being torn out of the economy by debt fuelled property madness?
+1 The property ladder will get top heavy, wobble and then tumble as the FHB resist getting onto it.
Only if the people who are building the houses are selling to people who don't also have jobs building houses.
So, what are the people who are going to buy the houses going to work at when the arse is being torn out of the economy by debt fuelled property madness?
this is good news.
Its good that we are getting a strong supply response to the increased demand.
hopefully, it doesn't create a supply overhang. Skamy, seriously, please stop commenting on Ireland.
You haven't a fucking clue.
Edit: Here is the point you don't get Skamy. Ill put it in bold, promise to actually think about it now, as hard as that might be for you. Here goes: THE CRASH WASNT THE PROBLEM; THE BUBBLE THAT PRECEEDED IT WAS. THE CRASH WAS THE INEVITABLE RESULT OF THE BUBBLE.
People in WA buy house and land and hire people to build their homes. The GST killed speculative building 13 years ago,in case you have not noticed.
I have to laugh every time Veritas, the naive Aussie boy who has not even built nor bought his own home yet, tries to tell an Irish person a big fantasy story about their latest Irish theories. These theories are always tailored to suit the most likely occurrence of the same thing here in Australia and so deliver a very cheap house in the best area of Perth for Veritas and the whingy mates he meets down the pub to discuss how unfair life has been to them all.
willy_nilly
9 Sep 2013, 07:30 PM
+1 The property ladder will get top heavy, wobble and then tumble as the FHB resist getting onto it.
Dream yourself into a life of increasingly impoverished renting by all means . Blind Freddy can see the market is just about to take off and you sit here dreaming that everyone else is gonna topple over and you are the last man standing ready and waiting to pick up a cheap house. Can you really not see how crazy you guys sound, crazy man crazy.
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.
I do not want a revert to mean for me. I want it for my kids, their kids and their kids after that. It is false greedy bull argument to think that all ears want a crash for their own benefit. Most bulls I know want gains for the 'me' generation.
Only if the people who are building the houses are selling to people who don't also have jobs building houses.
So, what are the people who are going to buy the houses going to work at when the arse is being torn out of the economy by debt fuelled property madness?
+1 The property ladder will get top heavy, wobble and then tumble as the FHB resist getting onto it.
Been hearing about that theory re the Sydney market in particular for 20 years........
For Aussie property bears, "denial", is not just a long river in North Africa.....
A survey of more than 2000 university students aged 17-29 is challenging the carefree reputation of Gen Y, revealing they may be more responsible than they let on. A whopping 96 per cent of the WA respondents plan to buy a property in the next five years - showing the dream of home ownership is still number one on their minds - and 60 per cent state they are “very bored” with Facebook.
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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