angelico

They've been talking about a housing bubble for atleast a decade now, just look at this old article: http://www.theage.com.au/articles/20...734371850.html

I've bought a house in North Ryde in April 2009, virtually 80% of my friends and colleagues were advising me againts it - "GFC is only starting", "we're in a bubble etc". I went against their advises and went for W Buffet's mantra "Be brave when everybody is afraid". Well the house is now worth 15% more now based on recent auctions on the same area I've personally attended

Amazulu

Hubbly bubbly

Jon77

Sydney houses prices will never crash in the same way that London house prices held up and never crashed.

But only those who stick their heads in the sand will not recognise that are some big problems that the housing market in Sydney will have to face at some point. The Labor government have been happy to prop up house prices and keep housing stock levels low and try to keep demand high. Can't last forever.

North Ryde isn't too far from where I live and that is an area being heavily invested in by the Asian market. Eastwood, all the Ryde's, Epping, Meadownbank and Rhodes, all those kinds of places are getting big investment from the Chinese especially. It will be interesting to see what would happen if / when tha Asian money comes to an end.

moneypenny20

My father said exactly that to me when I was about 18. He remembered his father saying the same thing to him back in 1935.

commonwealth

what will you say to your offsprings?

moneypenny20

Tidy your room, you're 40 years old, you should know better! Probably

Dreamy

Can't karma you unless I spread first ... but oh my God, I hope my kids have moved out by the time they're 40.

Please.

Otherwise I'll move out and leave them to it - I quite fancy a one bedroom unit somewhere

moneypenny20

Agreed. Whilst I dread the day they do move out, I think I'd dread it even more if they didn't.

Fact is, every generation looks at the state of the nation/world, looks at housing prices, col etc and decides the next generation won't be able to afford x, y and z and they always do.

IvanM

Only goes up. Never goes down.

chris955

When we got married a few years ago () we could have bought a house in the UK for less than £30k and it wouldnt have been a real struggle. In hindsight we should have bought the house AND travelled

isgraham

My father said it was relatively easy in the 70's in Manchester
I found it reasonable easy in London back in 2001.
Sydney it was a bloody nightmare between 2005 and 2010.
Back in London 2012 it's easy but that's based on 11 years of price growth and not having a mortgage and only needing to borrow 50K

chris955

Yes i tend to agree, i dont think it has always been hard to get onto the property ladder, certainly nothing like it is now.

Zen10

What amazes me is how they have kept the prices unaffordable for so long and got away with it. It's like a magic trick.

chris955

Absolutely, our house in Brisbane went from $115,000 to well over 300k in 10 years but was near that top figure for most of that time.

Zen10

Good old "Aussie John" Symond was ramping house prices this morning on Sunrise, which irritated me so much I started a thread on it. For some reason threads on collapsing property prices seem to go in to oblivion quite fast ha ha. Ostrich/sand etc.