Does your excitement go the same way as that graph greedy guy? Im going to laugh like fuck when you get your arse bored out by the banks. Your bank manager is going to turn you into a spit roast when you miss payments on your houses worth less than you paid for.
Im going to laugh like fuck when you get your arse bored out by the banks. Your bank manager is going to turn you into a spit roast when you miss payments on your houses worth less than you paid for.
Thanks for the warning Mango. I've been hearing it since 2007, and it always makes me smile to hear it again.
Thanks for the warning Mango. I've been hearing it since 2007, and it always makes me smile to hear it again.
Thats how long the VI's have been adding fuel to the fire for. Tont abbots Liberals are the worst government we will ever see. Hockey might as well be a concretor before he became treasurer. He will single handedly destroy the living conditions of the lower classes starting with a tax on super while he pisses in the pockets of the rich. Doesnt matter China is fucked and so too will be Australia sooner rather than later.
No need to reply this is another of your broken record bullshit threads weve all seen 100 times before....yawn, besides its lame to bump your own thread up ,you said so.
Just like all the other cities it is now primarily relying on super low interest rates, Chinese and SMSF investors. It's still very precarious and could pop any time.
stinkbug omosessuale Frank Castle is a liar and a criminal. He will often deliberately take people out of context and use straw man arguments. Frank finally and unintentionally gives it up and admits he got where he is, primarily via dumb luck! See here Property will be 50-70% off by 2016.
Just like all the other cities it is now primarily relying on super low interest rates, Chinese and SMSF investors. It's still very precarious and could pop any time.
It's not called a bubble. It's called life.
“You Keep Using That Word, I Do Not Think It Means What You Think It Means” - Inigo Montoya
stinkbug omosessuale Frank Castle is a liar and a criminal. He will often deliberately take people out of context and use straw man arguments. Frank finally and unintentionally gives it up and admits he got where he is, primarily via dumb luck! See here Property will be 50-70% off by 2016.
Thats how long the VI's have been adding fuel to the fire for. Tont abbots Liberals are the worst government we will ever see. Hockey might as well be a concretor before he became treasurer. He will single handedly destroy the living conditions of the lower classes starting with a tax on super while he pisses in the pockets of the rich. Doesnt matter China is fucked and so too will be Australia sooner rather than later.
No need to reply this is another of your broken record bullshit threads weve all seen 100 times before....yawn, besides its lame to bump your own thread up ,you said so.
The people I see being hurt are the negative gearers and anyone buying into this market. If they are excited by the rise in Sydney, they need to get a life.
Government bulldozers egged on by a cheering lynch mob of righteous homeowners insist the young must sacrifice two decades for a plot of land.
I can just see the tv news story and angry spittle voxpops.
Prices will revert to mean. Avoid being a casualty. Do something else.
In Sydney housing construction has been on a downward trend for several years. This has happened because residential housing development is simply not a profitable activity. Or more correctly wasn’t at the $550K median price.
From my perspective, (having looked at the financial costs for several development projects in Sydney) I know it is just not possible to provide the desired product for under $550K. The reasons are multifaceted and nothing that a good recession / depression couldn’t fix, but these costs are real for the developer wanting to build new houses TODAY.
So we have an silly situation where prices are at absurd levels (relative to wages) but no new supply develops. That’s been the case in Sydney for the last 5 or more years.
Nothing will have any real impact on the prices of a Balmain terrace or a Mosman mansion. If you aspire to own these than the market is functioning perfectly and is providing product within the code restrictions. You just need to accept this product is genuinely scarce and deserves the premium that it currently attracts. If you want it then find $$$$ its that simple.
The people I see being hurt are the negative gearers and anyone buying into this market. If they are excited by the rise in Sydney, they need to get a life.
Government bulldozers egged on by a cheering lynch mob of righteous homeowners insist the young must sacrifice two decades for a plot of land.
I can just see the tv news story and angry spittle voxpops.
Prices will revert to mean. Avoid being a casualty. Do something else.
Don’t Buy Now!
I know that this isn't really David, but it was his response to China Bob at MB today.
China Bob owned him. Poor David he doesn't understand.
Ah - I see that China Bob has morphed into Robert - weird.
Please name another investment class, that requires for most people such high leverage, and hence risk, like housing ?
I take it you mean Life = zero or no risk?
What other investment classes are "lifelike"?
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
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