Australia housing bubble

[MITCHAY]

Originally Posted by T3rminator

2.24 fixed I owe my broker a few rounds.

Solid rate What term is that?

[T3rminator]

Originally Posted by MITCHAY

Solid rate What term is that?

2 years. Expires in July 2023. By then I'll just get the broker to shop around again. The switch was so seemless.

[Yellow_Festiva]

I've got several properties on my watch list that have seen price drops.

A few have been under offer and back on the market 2 or 3 times. I think the credit industry is really making it hard to borrow and are not accepting the over inflated valuations of 6 months ago.

Many places are now priced at near pre-boom prices - had interest rates been forecast to be stable I would have many options to make an offer.

I'm keen on one place that I can totally gut and renovate. I may just make an offer low enough to cover me for possible future price corrections and see how it goes.

But happy to sit back with my popcorn and watch what happens. I'm still thinking January of next year will be a good time to aggressively look for a place.

[hackney]

Sydney market @ the moment is going down @ around $350.00 per day.

[Citroënbender]

Based on what - the median value?

I am skeptical; it suits some parties to spread these ideas. Capital growth may slow while supply chains smooth out new pathways, but so long as we (Australia) remain a bed of ease for foreign interests the value will continue to rise strongly overall.

[hackney]

Originally Posted by Citroënbender

Based on what - the median value?

I am skeptical; it suits some parties to spread these ideas. Capital growth may slow while supply chains smooth out new pathways, but so long as we (Australia) remain a bed of ease for foreign interests the value will continue to rise strongly overall.

Source:Stephen Koukoulas, Treasury, head of Global strategy TD,Adviser to PM.He is one of Australia’s leading economic visionary’s.He knows what he is talking about.

[Citroënbender]

I’m not disputing the presence of a dip currently, but don’t believe it’s the sign a bubble is bursting or that we are headed for a large “reset”. Urban consolidation is still absolutely ripping along and new estates seem to be holding a head of steam comfortably. If anything changes soon, it may be that people turn over their “forever home” less quickly (forever apparently meaning you live there for 2-3 years).

[hackney]

Originally Posted by Citroënbender

I’m not disputing the presence of a dip currently, but don’t believe it’s the sign a bubble is bursting or that we are headed for a large “reset”. Urban consolidation is still absolutely ripping along and new estates seem to be holding a head of steam comfortably. If anything changes soon, it may be that people turn over their “forever home” less quickly (forever apparently meaning you live there for 2-3 years).

Prices will not ‘dive’,it will more of just plateaued effect.You certainly will not see massive drops.Just a correction in the market place, you can see it happening already.

[Polyal]

Wonder how all the chat about US recession and tech stocks diving (they are) will flow on, come in spinner!

[FTE217]

Originally Posted by Polyal

Wonder how all the chat about US recession and tech stocks diving (they are) will flow on, come in spinner!

Been waiting for that spinner last 15yrs.......
Do you really think Wall St/US can afford the melt down let alone the global markets under the current circumstances.......
I'll be surprised but lets wait and wait and see.

[Polyal]

Originally Posted by FTE217

Been waiting for that spinner last 15yrs.......
Do you really think Wall St/US can afford the melt down let alone the global markets under the current circumstances.......
I'll be surprised but lets wait and wait and see.

Imagine if other segments got as much support as real estate, can I get my super out to buy a Falcon when it was new? (I wouldnt because thats a stupid idea, much like the current one).

Agreed on it being "strong", but its highly supported for all the wrong reasons. But it is what it is, I am not phased, just sad at our economic state.

[MITCHAY]

I was cold called again today by LJ Hooker. Just said nah mate not interested when they said do you want to know whats sold in your area.

WTF? I have the internet and can see that for myself and have no use for you if I'm not selling. I knew what my neighbours paid in rent before they moved in

Oh yeah still have to get onto my broker about a rate cut but wondering if it will be better to wait for the June rate rise before I do.

[roKWiz]

Bit more pain heading towards mortgagee's with an estimated 18% rise in electricity prices for NSW. Vic 5%. Ouch.

[FairmontGS]

Originally Posted by MITCHAY

I was cold called again today by LJ Hooker. Just said nah mate not interested when they said do you want to know whats sold in your area.

WTF? I have the internet and can see that for myself and have no use for you if I'm not selling. I knew what my neighbours paid in rent before they moved in

Oh yeah still have to get onto my broker about a rate cut but wondering if it will be better to wait for the June rate rise before I do.

Same in the Inner West Sydney. Stuff still selling well and there's agents cold-calling us. I think it's just the froth that has come off the top of the market.

[Polyal]

Originally Posted by FairmontGS

Same in the Inner West Sydney. Stuff still selling well and there's agents cold-calling us. I think it's just the froth that has come off the top of the market.

Which is fine, interesting times. Its still a simple supply and demand market but we have had it cushy for a long time so the market hasn't really had to worry about inflation or distribution channels etc for a while.

I think the rate increases are the least of peoples worries at the moment.

[hackney]

Originally Posted by Polyal

Which is fine, interesting times. Its still a simple supply and demand market but we have had it cushy for a long time so the market hasn't really had to worry about inflation or distribution channels etc for a while.

I think the rate increases are the least of peoples worries at the moment.

The ‘pain’ is only just starting.

[Citroënbender]

Originally Posted by Polyal

…I think the rate increases are the least of peoples worries at the moment.

Curious what you think are the most important concerns people should hold.

[hackney]

Originally Posted by Citroënbender

Curious what you think are the most important concerns people should hold.

Fuel, rising energy costs, food etc…. Just to name a few.Forgot, rents!

[roKWiz]

Originally Posted by hackney

Fuel, rising energy costs, food etc…. Just to name a few.Forgot, rents!

Council rates usually rise based on house and land markets. Water, public transport, air travel. Think it might get expensive under a Labor government, usually does green taxes etc.

Not that I take sides both sides are crooks.

Who knows....Imagine they could bring in constitution laws enacting original land owners rights so we all end up just leasing the house that sits on first Nations people land as we should IMO.

Flame suit time.

[hackney]

Originally Posted by roKWiz

Council rates usually rise based on house and land markets. Water, public transport, air travel. Think it might get expensive under a Labor government, usually does green taxes etc.

Not that I take sides both sides are crooks.

Who knows....Imagine they could bring in constitution laws enacting original land owners rights so we all end up just leasing the house that sits on first Nations people land as we should IMO.

Flame suit time.

Taxes are going to rise, that is a given, & as such I do not have an issue with that, gross government debt is @ $888 billion.Sometimes spending cuts, interest rate hikes are the best economic policy.We are in that economic policy space now.

[roKWiz]

Originally Posted by hackney

Taxes are going to rise, that is a given, & as such I do not have an issue with that, gross government debt is @ $888 billion.Sometimes spending cuts, interest rate hikes are the best economic policy.We are in that economic policy space now.

No I agree.
Usually the Libs will tax the small business to help big business.
Where as the Labs will tax the small business to help unemployed trans whales.
Either way small business gets screwed, then its passed on to mr. consumer.

I'm more concerned about a certain 2 huge corporations that seem to be influencing our banking sect, the media, fuel companies, our supermarket's by stealth.

[T3rminator]

For those who have leveraged to the hills, a small percentage point rise could outstrip other costs of living on a monthly basis. You can absorb a bit of the fuel, electricity and food costs by changing your habits. Can't with interest rates if you are an owner occupier.

[hackney]

Originally Posted by roKWiz

No I agree.
Usually the Libs will tax the small business to help big business.
Where as the Labs will tax the small business to help unemployed trans whales.
Either way small business gets screwed, then its passed on to mr. consumer.

I'm more concerned about a certain 2 huge corporations that seem to be influencing our banking sect, the media, fuel companies, our supermarket's by stealth.

‘No’ I agree?

[roKWiz]

Originally Posted by hackney

‘No’ I agree?

Yeah, No.

[hackney]

Originally Posted by roKWiz

Yeah, No.

Well after all that,hate to say it,but you are wrong

[hackney]

Originally Posted by roKWiz

Yeah, No.

And this:Sometimes good economic policy means taking money out of people’s pockets.With the economy strong, inflation rampant, & unemployment staggering low,now is the time for action.Rate bikes are obvious, the government also needs to trim spending & tighten taxes.This is just plain fact,& is backed up by numerous economists.We need to get the government debt down from a gross figure of $888 billion.Money does not fall off trees.Some hard decisions are going to & have to made in the next six months, whether you choose to believe this or not.

[roKWiz]

Originally Posted by hackney

Well after all that,hate to say it,but you are wrong

Yeah. nah.

[Citroënbender]

I read the NSW Government is likely to mothball some sizeable infrastructure projects in favour of smaller ones that look better at election time are more amenable to their balance sheet. Cannot see how a deferred job gets cheaper; this situation only applies with some demolition.

But it surely affects the narrative and practical outcomes around urban sprawl - transit times, accessibility, realistic uptake of urban centres.

[roKWiz]

Originally Posted by Citroënbender

I read the NSW Government is likely to mothball some sizeable infrastructure projects in favour of smaller ones that look better at election time are more amenable to their balance sheet. Cannot see how a deferred job gets cheaper; this situation only applies with some demolition.

But it surely affects the narrative and practical outcomes around urban sprawl - transit times, accessibility, realistic uptake of urban centres.

I love this logic. Newcastle Uni is a classic example of this. Stone restoration is now 4 times their 2010 priced quote. Meanwhile the facade just keeps decaying.

[b0son]

Originally Posted by Citroënbender

But it surely affects the narrative and practical outcomes around urban sprawl - transit times, accessibility, realistic uptake of urban centres.

It really boggles the mind, their thinking. Governments seem so averse to taking on debt, yet happily run a budget deficit. Why cant the government build some of these big projects rather than outsourcing them? I have far less of an issue paying tolls to use those road projects if its going to the government, than if its lining a private corporation's pocket.