abc.net.au
>House price declines of up to 20 per cent and an 80 per cent crash in residential sales is the doomsday scenario investment bank Citi says is a real possibility if the residential property market rolls over.
What's your plan once the bubble bursts Ausbros?
>What's your plan once the bubble bursts Ausbros?
I HAVE A BITCOIN!
>below this post, all NOcoiners BTFO.
Can someone with the knowledge explain to me why this bubble will burst? I mean, since there is more demand than supply for family houses, surely unless someone builds a shitton more of them nothing will change? Help me pls
kill chines
>(((investment bank Citi says)))
Danger Will Robinson.
I spend about 80% of the year on the road in my van anyway. Fuck I love this country.
When the bubble pops I'll buy a fucking house. And laugh all the way to the bank with all the foreign investors losing all their fucking money.
laugh because i'll still have a house either way
government, banks, etc will all do everything they can think of to prop the market up because there's more homeowner votes than there are whinging houseless millennial/GenZ votes
if australians can't buy, they'll import foreigners who can
sold all my litecoin the other week which paid for most of an expensive PC upgrade
>Asking a board full of NEETs if they might make a deposit on a mortgage/buy a house outright
It turns out there's an oversupply, google the news in the last 3 days
I see these types of articles a few times a year, every year and have done since around 2003, house prices are going to consolidate maybe drop 5% at worst then keep marching upwards
a lot of cunts just look at "number of dwellings" and panic, not realising that a lot of it now is commiebox one or two bedroom apartments built purely to milk money out of "investors" which aren't viable for a family or even a couple aiming to start one
of family homes? not fucken likely
of shitty 1 & 2br apartments? oath, because no cunt wants to live in them long-term
So before it was going to "only" drop 10% since it was "only" 20% overvalued, now it's going to drop 20% and there will be an 80% crash in residential sales?
It sounds like these traders are trying to avoid the obvious.
Do you recommend it?
The correct answer is to buy a house. It's the cheapest price you can get (until the next housing bubble pops).
>Do you recommend it?
Depends on what you want, or don't want, out of life. I personally couldn't live any other way.
about 1 in 8 houses across the country are vancant because Chinese fuckwits buy up the houses and let them sit there with no occupancy, just to get their money out of China.
That's why it's gonna go to shit and I'll finally be able to afford to pay off a house
The only way the bubble could burst is if transport infrastructure rapidly improved all of a sudden.
Imagine if a a bullet train appeared linking Sydney CBD to Newcastle, Central Coast and places down to Wollongong.
And then also imagine a subway system appeared in Sydney to help ease rail congestion and provide more connectivity to other surrounding suburbs.
All of a sudden paying 1.2 million for 1 bedroom city apartment seems retarded because people can buy a big home much nicer areas and still commute to work in 30-40min
wanna tank aussie house prices in 6 months?
we all chip in and get one of these 3d house printers that can print a house in a day with only 10k in materials
youtube.com
start printing houses like mad and only sell to millenial citizens only
construction companies see their lunch getting eaten and get their own printers to build at competitive prices, contractor vampires go extinct, real estate cunts go extinct
suddenly everyone is fighting over 10k houses while the 500k+ apartments rot on the vine, so those prices only have one direction to go
so who's game?
the only hard part is getting the first 3d printer to cause the real estate avalanche
>useful infrastructure of any kind
>Australia
I am totally in if you can resolve this one issue:
Where do we get the land to build houses on?
china's economy is going to crash at some point, all the money streams will dry up and house prices will return to reality
america's economy doesn't look so strong either
already sold my townhouse for $1m.
bought for $450k 6 years prior.
currently renting and waiting for the property market to correct and rebuy.
no yankees!
rural land is quite cheap, but there may be no roads, electricity or sewage
still beats the shit out of paying 500k for a shoebox
nice work
At 30 June 2016, 28.5% of Australia's estimated resident population (6.9 million people) was born overseas.
We are emulating the chinese twin city property bubble.
Always remember that fishheads are better than Indians.
>What's your plan once the bubble bursts Ausbros?
Buy property.
To continue living normally.
Only pollies, jews, poos and chinks care about house prices.
Perth here. Bubble burst before it expanded. East coast money might start coming from likes of user
Turkey of decent digits.
Linfox will never let that happen
I've actually applied to move to Perth for work.
I'm in the casino business and they pay only slightly less in Perth, but there's a significant cost of living decrease.
How's the weather over there?
If you own it then who gives a fuck. If you owe more than it's worth, then more fool you.
The problem is in the wholesale leverage.
Banks here borrow from banks in Europe at Say 2% and that money then hits the retail lending market here.
Now if the banks decide residential security isn’t strong enough and call in an adjustment on the LVR IN mortgages and or if the Federal government raises interest rates, the variable rate on retail borrowing will have to be raised AND this will cascade into mass urgent sales and see price reduction across the board.
The economy here has been precariously balanced for about a decade.
H-he's sweaty!
hot and you'll get bashed by abos guaranteed
Noongas couldn’t knock the froth off a poofters latte
Wife works in Casino, also, well back soon, maternity leave for 3 years. I guess about 200 twenty degree days.
There is no housing bubble
This can be seen for the fact prices vary suburb to suburb
Example you can still get ~400k 3-4 bedrooms homes in X suburb 40minutes from the city, but if you go to the next suburb along side it, the houses suddenly become ~800k, then you go to the next suburb (the more "posh" one of the area) and suddenly you're looking at 1m+. These are all suburbs that border each-other, and the same distance from the city.
If there was really a bubble, wouldn't all 3 of those suburbs (RIGHT FUCKING NEXT TO EACH OTHER, SAME DISTANCE TO THE CITY) have all the same price?
Nah, it's because it varies wildly from suburb to suburb. No bubble, there's nothing to pop, just do more research and find the cheaper suburbs, they're out there. It's only very specific locations that are seeing constant price increases month to month, there still exists many places where prices have stagnated for years, and it's nothing to do with location, it's more so just nobody wanting to move there because it's not a A+++ middle-class area or A+++ upper-class area.
i want my parents to cash out while they can
It breaks down even less value changes from street to street.
It still doesn’t address the fact a lot of Aussies are over leveraged and if interest rates move then they’re fucked.
That’s a fact.
>What's your plan once the bubble bursts Ausbros?
Purge all the boomers by throwing them all into nursing homes.
Exponentially inflated on the original high demand price.
more like 250-300
>having parents
he have very low interest rates right now and a lot of people have huge montages they can just pay off now. If interest rates go up they can't pay off the loan. Then the bank will take the house and rent it out until the prices go back up again so they can sell it and get their money
>tfw moved to Japan as the bubble got REALLY FUCKING bad
Thanks for holding out ausfags, guess I'll move back after your suffering is over.
>Australia is le 71 face
Nnnnooooo not you too
Nursing homes require your home as collateral.
If an oldies home is worth 80% less will Nursing homes demand 4 homes?
Sydney actually has a comparably high percentage of properties owned outright.
28.5% includes people born in Europe or America
>America
>le
The median house price in MOUNT DRUITT of all places is 650,000 dollars. The place that is full of meth heads and unemployed. It has a higher price:income ratio than silicone fucking vallley. There's no bubble? How about a single fact to back that up you sniveling real estate agent loser.
>europe
>le
the (((system))) works
Our largest overseas born group is fucking Poms by a long margin if I'm not mistaken and things haven't changed
And kiwis. There's heaps of us cunts over here
Beijing and guangzhou is twice as bad in price:income as Sydney melbourne
well I guess it's good if they never want to sell it
Citi is a bank partly owned by Kingdom Holdings.
Place of birth Estimated resident population
England 907,570
New Zealand 518,466
Mainland China 509,555
India 455,389
Philippines 236,400
Vietnam 219,355
Italy 174,042
South Africa 162,449
Malaysia 138,364
Scotland 119,417
Sri Lanka 109,849
Germany 102,595
So I'm trying to the math in my head. What are we then, le 93% face man?
top 2 are white the rest are not white
you can be a chink who was born here etc
When property is worth nothing, it's a buyer's market.
Maybe I'll buy property.
New Zealand whiter than Italy or Garmany.
Weather is magnificent.
Bought when it crashed here. Life is good.
maybe i'll buy ya mum
the sheep are white
like 89% or something
>MFW thought it was 95%+
Because when prices are sky high people start building houses everywhere. And then there's an over supply. And then the market crashes. Also consider Oz has nearly infinite space. It's not like Hong Kong where there's nowhere to build houses.
I wish.
I keep seeing on the news that China economic is going to fail since 2008
But fucking when!?
Hahaha yesterday there was an article ssying the bubble would last 40 years. The other day was a doomporn one saying we are headed for unprecedented catastrophe as everyone is overextended and too many foreign mortgagees have fake papers and may default (they all chinese govt?)
>Also consider Oz has nearly infinite space
mmmm maybe we can trick the chinese into building towns in the desert
if they survive, they can keep them
Dr Steve Keen predicted this years ago.
This guy seems pretty based.