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Forum: Australia
Feb 10th 2010, 1:20 am
Replies: 983
Views: 81,769
Posted By hereandthere

Re: Housing bubble in Australia

I agree with part of this, but there is another force acting on house prices and that is the fact that no FTBs can afford to buy anymore. With no one buying houses at the bottom of the ladder, the...
Forum: Australia
Feb 9th 2010, 6:59 pm
Replies: 983
Views: 81,769
Posted By hereandthere

Re: Housing bubble in Australia

I'd like to comment on the old trope that demand caused by rising population keeps house prices high.

Canada and the US have higher population increases than Australia and the UK, yet houses...
Forum: Australia
Feb 9th 2010, 3:29 am
Replies: 983
Views: 81,769
Posted By hereandthere

Re: Housing bubble in Australia

What's going down in the US and UK is a lot worse than what happened to Japan. They were able to import their problems away, and that kept them merely stagnant. That option isn't there for US/UK in a...
Forum: Australia
Feb 9th 2010, 3:11 am
Replies: 983
Views: 81,769
Posted By hereandthere

Re: Housing bubble in Australia

But the full context of my posts made it clear that 128k was what they should cost today, if they had inflated at the same rate as wages. But really this is neither here nor there. Houses are three...
Forum: Australia
Feb 9th 2010, 2:10 am
Replies: 983
Views: 81,769
Posted By hereandthere

Re: Housing bubble in Australia

The house cost $40,000 in 1980 dollars. So the $376 is $20,000 per annum, making the wage 50% of the house price. Today, the wage annualised is $75,000 (who the hell earns that by the way??) which is...
Forum: Australia
Feb 9th 2010, 2:04 am
Replies: 983
Views: 81,769
Posted By hereandthere

Re: Housing bubble in Australia

Asprilla

To be fair, I have joined this debate late and not read all your posts. But my point to you is just that houses are now about three or four times more expensive, in terms of average house...
Forum: Australia
Feb 9th 2010, 1:51 am
Replies: 983
Views: 81,769
Posted By hereandthere

Re: Housing bubble in Australia

Quite, but as long as you people like asprilla I think this madness could just go on and on. He actually thought a house in Perth in 1980 cost $128,000 1980 dollars.
Forum: Australia
Feb 9th 2010, 1:49 am
Replies: 983
Views: 81,769
Posted By hereandthere

Re: Housing bubble in Australia

No, the cost of the house in Perth in 1980 is $128,000 in today's money. At the time it was $40,000, or three times the average wage as supplied by you. So you make my point very well for me -...
Forum: Australia
Feb 9th 2010, 1:36 am
Replies: 983
Views: 81,769
Posted By hereandthere

Re: Housing bubble in Australia

Particularly bad news for Adelaide where the wages are lower. The crash in house prices in Adelaide is going to be a bloodbath. Govt. will work hard to stop this happening in an election year...
Forum: Australia
Feb 9th 2010, 1:30 am
Replies: 983
Views: 81,769
Posted By hereandthere

Re: Housing bubble in Australia

Hardly. You claim that not all property is overpriced, I suggest it probably is. To back this up I point out that property is now somewhere intheregion of 300% to 400% more expensive than it used to...
Forum: Australia
Feb 9th 2010, 1:07 am
Replies: 983
Views: 81,769
Posted By hereandthere

Re: Housing bubble in Australia

Yup - Dow down for last four weeks now, so not looking good for equities.
Forum: Australia
Feb 9th 2010, 12:49 am
Replies: 983
Views: 81,769
Posted By hereandthere

Re: Housing bubble in Australia

I think just about all property in the West and other places like certain parts of China is certainly overpriced. Certain parts of US/Canada are roughly in line iwth long-term trends. Property in...
Forum: Australia
Feb 8th 2010, 11:42 pm
Replies: 983
Views: 81,769
Posted By hereandthere

Re: Housing bubble in Australia

I haven't been on this thread but from a neutral perspective I think it's undeniable that there is a housing bubble not just in Australia but right across the West.

A good three bedroom place in...
Forum: Australia
Feb 8th 2010, 11:27 pm
Replies: 983
Views: 81,769
Posted By hereandthere

Re: Housing bubble in Australia

That in itself is not good news for the housing market though. The housing market needs more FTBs or it's a house of cards in a strong wind. Same thing happening in UK - everyone cock-a-hoop over the...
Forum: Australia
Feb 8th 2010, 11:00 pm
Replies: 983
Views: 81,769
Posted By hereandthere

Re: Housing bubble in Australia

Bubbles can only happen when the majority of the population can't see them forming. Like now.

Problem you've got is a lot of people buying houses now have grown up with very low interest rates, so...
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