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Re: Australia's Property Bubble...
Certainly from our research that is the case. We can buy a nice big house on a decent block (without termites :-) ) for £250k, a house that will last many lifetimes. Whether there will be a bursting of the bubble is hard to say really, something needs to happen to make housing more affordable. Our house went up 300% in 10 years, i can tell you that wages didnt keep pace :lol:
Originally Posted by Stephen
(Post 10013224)
The actual affordability of a property, especially for a mum and dad, comes down to the cost of living in a certain economy.
On most factors the UK is far cheaper than Australia to live. Therefore when comparing what you can buy like for like (which is far too simplistic) in the UK and Oz, does not account for these factors. What you need to consider, is what repayment is manageable based on the other economic pressures. |
Re: Australia's Property Bubble...
.....is wondering why she bothered to read this thread from the beginning, when it is so much like other threads.......................:zzz:
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Re: Australia's Property Bubble...
Again? How many times has it burst in the last year or two now? I can't keep count
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Re: Australia's Property Bubble...
Originally Posted by Stephen
(Post 10012147)
One can sell up and rent and wait for the crash to buy cheap.
I'm going to make a big effort to take this thread off topic. |
Re: Australia's Property Bubble...
Originally Posted by Stephen
(Post 10013238)
http://www.heraldsun.com.au/news/mor...-1226249691558
The 'experts' in the 'city' who refute analysis like this, are those who usually have a vested interest - bankers, brokers, developers etc Don't say you weren't warned. “If you are homeowner, be cautious, get rid of your debt, consider selling if you don’t plan to be in your house for more than seven years and downsize or become a tenant," he said :getcoat: Sydney real estate agent Charlie Bailey of Ray White Inner West believes there will not be a burst because there is no bubble. :flypig: He makes outlandish statements to sell his books. Gullible people buy them. "Jordan Wirsz was home-schooled, and received his high school diploma, but college never seemed worth the time, he said". |
Re: Australia's Property Bubble...
Originally Posted by JoeBloggs80
(Post 10013585)
Again? How many times has it burst in the last year or two now? I can't keep count
Beautiful day today, about 25 degrees and stunning blue sky, fluffy white clouds. Just perfect. |
Re: Australia's Property Bubble...
Originally Posted by commonwealth
(Post 10013237)
i'll go back watching gay p0rn...
or calculating stuff based on exchange rates instead of income/expense ratio... :popcorn: |
Re: Australia's Property Bubble...
Originally Posted by moneypenny20
(Post 10013797)
About 20 I think. It's a good job none of us hold our breath when an 'expert' comes on here and tells us about the bubble bursting. We'd all be dead and then where would the bubble be?
Beautiful day today, about 25 degrees and stunning blue sky, fluffy white clouds. Just perfect. |
Re: Australia's Property Bubble...
Originally Posted by Stephen
(Post 10012124)
... is about to burst.
You can almost guarantee that when the 'experts' are telling us why it won't happen, that that is a sure indicator that it is going to. Australia is way overpriced in property, by as much as 50% in many places. It is as certain as tomorrow that a crash is on the cards - Australia is not immune, nor was the US or the UK etc. If you start saying to yourself stuff like..."No, we're different here.." you are merely echoing every other place and person who have been there felt it. In fact I call something unprintable, but the mods would get annoyed. :) |
Re: Australia's Property Bubble...
Originally Posted by Luthien
(Post 10013809)
Commonwealth you need some chocolate topping on that banana and a couple of big scoops of vanilla ice-cream. That should go well with your popcorn :)
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Re: Australia's Property Bubble...
Originally Posted by Amazulu
(Post 10013635)
That's nice and I'm happy for you.
I'm going to make a big effort to take this thread off topic. |
Re: Australia's Property Bubble...
Originally Posted by cresta57
(Post 10015487)
I'm happy to assist; There's a full row of off topic comments at the end of isle three, right next to the French breast implants that are sure to burst before any property bubble:ohmy:
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Re: Australia's Property Bubble...
Is Australia property in a bubble? Probably.
Is Australian property ludicrously overpriced? Absolutely. Will it crash and burn? Who knows, people have been calling it for years, in the UK too. Lots of so called "sell to renters" in the UK still renting many years after confidently predicting a big bust but prices still stubbornly high (in the South of England anyway). Never underestimate the meddling of the government to prevent a big drop in property prices - ZIRP, QE, first time home owners grants, even mortgage forgiveness. Sure it will make it worse in the long term but govts. don't care about the long term, just the next election. |
Re: Australia's Property Bubble...
Well, they are already crashing in Mandurah and we hoping to benefit from it. When we moved to our rental almost 4 years ago, the guy who owns the house opposite was bragging about the fact the cheapest block in the suburb was $400k. We got into a heated argument when I pointed out that the suburb was vastly overpriced. Well, we went to see two blocks yesterday that might take an offer around the $180 mark.
I was sooooo happy the other week when he tried to sell his place (it's a investment property / beach house) and was told that although he might have paid $800k for it, it is now worth $420k and falling. It's a logical thing. Average wage is only about $70k so average house price needs to be $210k otherwise you can ask what ever you want for it but nobody can afford to buy it. |
Re: Australia's Property Bubble...
Originally Posted by verystormy
(Post 10015714)
Well, they are already crashing in Mandurah and we hoping to benefit from it. When we moved to our rental almost 4 years ago, the guy who owns the house opposite was bragging about the fact the cheapest block in the suburb was $400k. We got into a heated argument when I pointed out that the suburb was vastly overpriced. Well, we went to see two blocks yesterday that might take an offer around the $180 mark.
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