bcworld

Haven't changed?



Source: Senate Select Committee on Housing Affordability in Australia

CrunchieFrog

Don't understand what you're trying to say here.

Deancm_MKII was making the point that the first time mortgage applicants are heavy skewed in favour of joint income applicants for the simple reason that single income applicants, in general, can't afford to get a first time property at all and so dont have succesful mortgage applications.


I suppose where comparing to the 1960s as you suggest, the point often comes up that now that more women work this gives rise to more dual income households, and that higher property prices are the result. However joint income households may run into additional expenses such as childcare, which would not be required if only a single person was earning.

freebo

Funny isn't it that quality of life is presented as improved because we now have HDTV and microwaves etc, when in reality the number of hours the average couple has to work to buy (or even rent) the average house has gone through the roof. I think its because people "feel" rich because their houses are worth a lot on paper, never mind the fact that all they own is a house, and likely on a smaller bit of land than their parents and they're working a lot harder to maintain the payments on it (or borrowed to the max and stuffed if/when property values decine).

brendarover

Baltic Dry Index Dropping 4%, Posting Longest Consecutive Loss In 6 Years, Refutes Australian Optimism..............................


http://www.zerohedge.com/article/bal...ustralian-opti

freebo

Good to see a fellow ZH reader, my fav website of all, first I've seen on here

ABCDiamond

I was saying that, back in the 60's most house buyers were single incomes, these days most have to be double incomes.

ABCDiamond

Have changed.

aaabha

First suggestion that rates might actually FALL!!!...



Quote:




"There is now a small bias for a decrease in June," ASX derivatives markets manager Kristye van de Geer said yesterday.








Quote:




Should the euro zone woes worsen "there would be the potential that we would see quarter-on-quarter falls at the end of the year", Mr Christopher said yesterday.

Residex CEO John Edwards also said price growth would moderate. He forecasts 5-8 per cent overall.

The top end of the market would do best, while some cheaper areas of southwestern Sydney were already going backwards.

"We have seen a fall in the value of assets in the assets in those markets of up to 3 per cent this year," Mr Edwards said.

"And the rate of that fall has been accelerating."






Rates to fall along with value of homes

I wonder if we'll see signs of 'profit taking', like we do with shares?


....

Pollyana

Threads merged

pomtastic

Tyler Durden is a visionary, he's been bang on with his Zerohedge blog, I've been following him for a year or so. Some of the stuff he comes up with is caught on by the MSN 6 months or so later. That guy has a crystal ball that actually works.

freebo

+1

It makes you think, doesn't it?

asprilla

brendarover

If he is only 50% correct, Australia will suffer, i am in absolute amazement how house prices have gotten to where they are in Austalia.

If i were living in Austalia, and had a $500k mortgage on a house currently valued at $550k, i would be worried, very worried.

If i had a house valued at $500k with a mortgage of $250k, i would sleep alot better at night.

Centurion

The Economist has an interesting article with this :

http://www.economist.com/node/16542826?story_id=16542826&fsrc=rss

61% overinflated prices in Australia. Indeed that is a mighty long way to fall.

freebo

But surely, its different here