Australia Next ? - Vancouver Property Drops 30%
Jul 15th 2010, 10:54 am
#91
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Re: Australia Next ? - Vancouver Property Drops 30%
California's economy to see sluggish recovery this year, UCLA economists say.
Chapman economists said the state would lose 198,000 jobs in 2010, but add 182,000 in 2011.
http://www.latimes.com/business/la-f...,6824904.story
Jul 15th 2010, 10:57 am
#92
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Re: Australia Next ? - Vancouver Property Drops 30%
And have your relatives told you about the Alt A and Option Arm mortgages that are about to reset in US? Any news from them regarding commercial property in US which will undermine the banking system out there?
Don't worry if they haven't told you, I'm sure you'll be an expert in this field within 6-12 months time on BE, like other issues that have been going on and yet you have only woken up to the fact to.
Don't worry if they haven't told you, I'm sure you'll be an expert in this field within 6-12 months time on BE, like other issues that have been going on and yet you have only woken up to the fact to.
Australia doesn't have these things and are therefore totally unrelated to the market here.
Jul 15th 2010, 11:11 am
#95
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Posts: 672
Re: Australia Next ? - Vancouver Property Drops 30%
China sells crap to US and Europe who are cutting jobs, reducing salaries and deleveraging.
China now has 65 million properties empty which could bring their banking system down, a bubble 5 times the size of US in the making.
http://www.zerohedge.com/article/chi...-vacant-homes-
Unfortunately, Aus is joined to China's hip.
Jul 15th 2010, 2:20 pm
#96
And YOU'RE paying for it!
Joined: May 2007
Location: kipper tie?
Posts: 2,328
Re: Australia Next ? - Vancouver Property Drops 30%
Just look at this, house up for auction in Hartlepool for £10K. Can't see many people from that area affording Aus thesedays and yet 10 years ago, people were indeed swapping their Hartlepool hovels for 4x2 with pool in good areas of Perth.
http://www.dailymail.co.uk/news/arti...on-10-000.html
http://www.dailymail.co.uk/news/arti...on-10-000.html
Jul 15th 2010, 9:17 pm
#97
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Location: Hope Island, Gold Coast
Posts: 1,920
Re: Australia Next ? - Vancouver Property Drops 30%
Seriously, of course no two countries are alike, Spain & Ireland among others had property bubbles that popped too, they wheren't alike either but the effect was the same.
"Its different here/this time" was also said in Calif, Vegas, Spain, Ireland, Dubai etc, etc meaing "the circumstances are different therefore it won't happen here". They all had credible sounding reasons to back up their hypothosis, and turned out to be wrong.
I'm not saying prices will drop across the board by X% all over Aus, but I am saying there are areas where rampant speculation has taken over and that almost always ends the same way.
Jul 16th 2010, 1:49 am
#98
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Location: Sydney
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Re: Australia Next ? - Vancouver Property Drops 30%
I hope its doesn't crash like it did in Ireland and Spain because it might drive unemployment up to +13%.
Australia would have to look after its citizens first and they might revoke any PR holders who have been here less than 4 years and send them back to where ever they came from.
Food for thought.
Australia would have to look after its citizens first and they might revoke any PR holders who have been here less than 4 years and send them back to where ever they came from.
Food for thought.
Jul 16th 2010, 2:27 am
#99
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Location: Hope Island, Gold Coast
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That would do wonders for the housing market!
Jul 16th 2010, 6:26 am
#101
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Posts: 100
Re: Australia Next ? - Vancouver Property Drops 30%
Housing bubbles generating excessive mortgages, are in essence a welfare scheme for the finance industry, until it all turns pear shaped, when taxpayers are forced to bail them out.
The “masters of the universe” (as they consider themselves within the finance sector – for reasons only known to themselves) are in reality, the “master welfare beneficiaries” in bubble housing markets.
The “masters of the universe” (as they consider themselves within the finance sector – for reasons only known to themselves) are in reality, the “master welfare beneficiaries” in bubble housing markets.
Our urban markets / cities are the engine drivers of a modern economy. Policy makers should not abuse them in treating them like casinos.
For metropolitan markets to rate as “affordable” and ensure that housing bubbles are not triggered, housing prices should not exceed three times gross annual household incomes.
some sixty years ago, where internationally the residential construction industry was wrenched from the “horse and buggy” era to the modern one we know today, affordable housing supply can meet demand if allowed to by Governments.
We do not for example have an “automobile affordability problem” and low interest rates did not create a bubble in the pricing of automobiles, computers or other goods we buy.
The economic profession generally has yet to wake up to this.
We do not for example have an “automobile affordability problem” and low interest rates did not create a bubble in the pricing of automobiles, computers or other goods we buy.
The economic profession generally has yet to wake up to this.
Of the six countries covered by the Annual Demographia Surveys (USA, Canada, Ireland, UK, Australia, New Zealand), the United Kingdom housing is the worst in terms of size, age and quality.
Although the United Kingdom is considered a first world country, its new residential house size at just 76 square metres (818 square feet) is now slightly smaller than the Stalinist slab housing the East Germans have been fleeing from since reunification. In 1920, the average size of a new British residential unit was 120 square metres (1,300 square feet).
Although the United Kingdom is considered a first world country, its new residential house size at just 76 square metres (818 square feet) is now slightly smaller than the Stalinist slab housing the East Germans have been fleeing from since reunification. In 1920, the average size of a new British residential unit was 120 square metres (1,300 square feet).
Interesting article
but to ensure the bubble stays aloft, the government is pulling in another 300,000 migrants -- many of them destined for Queensland, according to recent reports. It's been described as the world's (and certainly Australia's) biggest ponzi scheme
Jul 16th 2010, 7:09 am
#103
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Location: South Australia
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Re: Australia Next ? - Vancouver Property Drops 30%
As much chance as prices rising indefinitely. If they could achieve that legally, it would open the door to ship out anyone who's unemployed (by the same failure of human rights).
Jul 16th 2010, 7:15 am
#104
Pie Eater
Joined: Sep 2007
Location: South Australia
Posts: 770
Re: Australia Next ? - Vancouver Property Drops 30%
http://www.australianhousehunters.co...waking-up-too/
Interesting article
but to ensure the bubble stays aloft, the government is pulling in another 300,000 migrants -- many of them destined for Queensland, according to recent reports. It's been described as the world's (and certainly Australia's) biggest ponzi scheme
Interesting article
but to ensure the bubble stays aloft, the government is pulling in another 300,000 migrants -- many of them destined for Queensland, according to recent reports. It's been described as the world's (and certainly Australia's) biggest ponzi scheme
That should push prices up, or fill the street with homeless people, or both.
