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Australias Real Estate Bubble (Read 8242 times)
Sir lastnail
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Re: Australias Real Estate Bubble
Reply #120 - Feb 18th, 2014 at 10:49pm
 
Andrei.Hicks wrote on Feb 18th, 2014 at 9:50pm:
Sunshine Coast is potential but I was thinking Townsville.
Young families, growing population and good value for money on the revamped strand.
Plus in laws can pop around and give me a real view of how the property is being kept.

I've got a few in mind though - Tweed Heads, Benowa, Miami Beach, Strand, Port Douglas etc


In short though I think my overall view is Australia's real estate is in good shape.


How about Geelong ? Joints will be very cheap and it should resemble Detroit very soon. The headquarters of GMC !!!
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« Last Edit: Feb 18th, 2014 at 10:58pm by Sir lastnail »  

In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.
 
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Re: Australias Real Estate Bubble
Reply #121 - Feb 18th, 2014 at 11:08pm
 
I've already put together a promotion package for Geelong...

http://www.ozpolitic.com/forum/YaBB.pl?num=1392692734/15#15


The Revolution are planning to compensate overseas property hoarders to the tune of one cent in the dollar for resumption of their properties - only if they are kept in top notch conditions so they can be turned over to the unemployed........
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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
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Re: Australias Real Estate Bubble
Reply #122 - Feb 18th, 2014 at 11:34pm
 
Laugh till you cry wrote on Feb 18th, 2014 at 12:44am:
ian wrote on Feb 18th, 2014 at 12:09am:
Laugh till you cry wrote on Feb 18th, 2014 at 12:00am:


If Australia is so lucky why don't all the billionaires live here?
why doesnt everyone live here?  Silly question if you think about it. Quality of life is not necassarily based on money, thats the point. If it was our median house price would be 100 million bucks. Housing is dirt cheap here for what it is.


If you want to live among whingeing closet poms who have lost their way and their genetic heritage and are now becoming adept at digging holes in the ground you have come to the right place.

Go elsewhere if you want culture and intelligent company, including Japan.

Have a good whinge here Ian and get it off your chest.
Im not complaining. I realise how lucky I am. You appear to be the one doing the whinging. why dont you go and live in India, plenty of billionares there. Lots of cheap housing too.
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Re: Australias Real Estate Bubble
Reply #123 - Feb 18th, 2014 at 11:38pm
 
Could always live here in Tenerife.

Weather is pleasant, the Atlantic is deep blue but bugger me, what do you do all year round???
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Anyone who lives within their means suffers from a lack of imagination - Oscar Wilde
 
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Re: Australias Real Estate Bubble
Reply #124 - Feb 18th, 2014 at 11:51pm
 
ian wrote on Feb 18th, 2014 at 11:34pm:
Laugh till you cry wrote on Feb 18th, 2014 at 12:44am:
ian wrote on Feb 18th, 2014 at 12:09am:
Laugh till you cry wrote on Feb 18th, 2014 at 12:00am:


If Australia is so lucky why don't all the billionaires live here?
why doesnt everyone live here?  Silly question if you think about it. Quality of life is not necassarily based on money, thats the point. If it was our median house price would be 100 million bucks. Housing is dirt cheap here for what it is.


If you want to live among whingeing closet poms who have lost their way and their genetic heritage and are now becoming adept at digging holes in the ground you have come to the right place.

Go elsewhere if you want culture and intelligent company, including Japan.

Have a good whinge here Ian and get it off your chest.
Im not complaining. I realise how lucky I am. You appear to be the one doing the whinging. why dont you go and live in India, plenty of billionares there. Lots of cheap housing too.


You are another sad victim of the lucky country syndrome like car workers who are about to become permanently unemployed. Too busy counting your lucky stars to see the economic steamroller that's about to rob you of one dimension.
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Please don't thank me. Effusive fawning and obeisance of disciples, mendicants, and foot-kissers embarrass me.
 
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Re: Australias Real Estate Bubble
Reply #125 - Feb 19th, 2014 at 12:34am
 
Andrei.Hicks wrote on Feb 18th, 2014 at 11:38pm:
Could always live here in Tenerife.

Weather is pleasant, the Atlantic is deep blue but bugger me, what do you do all year round???


You asked for it. Will they buy you dinner?
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Please don't thank me. Effusive fawning and obeisance of disciples, mendicants, and foot-kissers embarrass me.
 
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Re: Australias Real Estate Bubble
Reply #126 - Feb 19th, 2014 at 1:44am
 
Andrei.Hicks wrote on Feb 18th, 2014 at 11:38pm:
Could always live here in Tenerife.

Weather is pleasant, the Atlantic is deep blue but bugger me, what do you do all year round???


Ahh - the peaceful ambience.. the quiet, the solitude.. the 747s crashing into each other in the fog.. it all brings back memories.....
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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
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Re: Australias Real Estate Bubble
Reply #127 - Feb 19th, 2014 at 2:58am
 
You fly into Aeroporto Tenerife Sur these days as a result of that crash.
It's at sea level and rarely fogs.
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Anyone who lives within their means suffers from a lack of imagination - Oscar Wilde
 
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Re: Australias Real Estate Bubble
Reply #128 - Feb 19th, 2014 at 2:59am
 
Andrei.Hicks wrote on Feb 18th, 2014 at 8:57pm:
I've been having a few chats in the last 2-3 months about going back into the Australia housing market.

What I was thinking was to borrow against the property I have in the UK, using the 2.5% interest rates and investing in homes in popular resort places in Queensland.
Maybe Gold Coast or Sunshine Coast.

The exchange rate of 1.85 to the £ and low interest rates, plus Australia's overseas investment friendly rules suggest to me this isn't bad time?

Who cares?
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*Sure....they're anti competitive as any subsidised job is.  It wouldn't be there without the tax payer.  Very damned difficult for a brainwashed collectivist to understand that I know....  (swaggy) *
 
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Re: Australias Real Estate Bubble
Reply #129 - Feb 19th, 2014 at 3:12am
 
Go to sleep smackhead
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Anyone who lives within their means suffers from a lack of imagination - Oscar Wilde
 
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Re: Australias Real Estate Bubble
Reply #130 - Feb 19th, 2014 at 3:29am
 
Andrei.Hicks wrote on Feb 19th, 2014 at 3:12am:
Go to sleep smackhead

Where's the threat??
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*Sure....they're anti competitive as any subsidised job is.  It wouldn't be there without the tax payer.  Very damned difficult for a brainwashed collectivist to understand that I know....  (swaggy) *
 
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Re: Australias Real Estate Bubble
Reply #131 - Feb 19th, 2014 at 8:37am
 
Andrei.Hicks wrote on Feb 19th, 2014 at 2:58am:
You fly into Aeroporto Tenerife Sur these days as a result of that crash.
It's at sea level and rarely fogs.


Damn - there goes the budget for airport fire services....

Actually I've considered Tenerife, Andrei - as perhaps part of my backpacker chain.... I'm a little different from many though - I prefer peace.
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« Last Edit: Feb 19th, 2014 at 8:55am by Grappler Truth Teller Feller »  

“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
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Re: Australias Real Estate Bubble
Reply #132 - Feb 20th, 2014 at 1:36pm
 
Redmond Neck wrote on Feb 15th, 2014 at 8:02am:
This guys prophecy of impending doom in the real estate market has got me wondering what actually happens to existing mortgages if suddenly house prices crash by say 30%.


Americans have an oversupply of under-priced houses, we've got an under-supply of overpriced houses. A big difference. And their home prices might have peaked 10% higher, ours are as much as 10X what they should be (they had a housing price balloon, we've got a Hindenburg).

Quote:

Will the banks be able to suddenly demand large increases in mortgage repayments as i think happened in America resulting in lots of forclosures?


As long as there is a housing shortage there won't be a big collapse in prices.  And it's more likely that we end up with runaway inflation, which means easier repayments for those on fixed mortgages rates.

Quote:

This is very likely I think as I think most new home buyers are borrowing far too much relative to their ability to repay!


It's part of the Aussie rules to pay too much for everything. Rupert Murdoch, for example, paid too much for just about everything he bought. Lucky for him that he'd predicted a favorable trend and had caught the right wave.

Quote:
Nightmare vision of impending property crash

American economist and demographer Harry S Dent jnr says there is a bubble in Australian house prices and we should brace ourselves for a spectacular collapse starting this year.


I'd predicted back in 98 that we would have a housing price collapse within 5 years, boy was I wrong. We got this massive price hike instead. My mistake was in underestimating just how stupid the Aussie sheeple really are.
Quote:
Dent is in Australia to speak at seminars and to promote his book, “The Demographic Cliff”. He says that house prices are unsustainable and will fall by at least 27 per cent in Sydney and Melbourne over the next several years.

    Your real estate is so high it has to come down.

Dent told Money in a video interview that the trigger for the collapse of Australia's house price bubble will be the bursting of the Chinese house bubble.

How high can property go?

Dent says Sydney and Melbourne property markets are being held up by foreign buyers and that cannot last forever.

“China has a bubble [in house prices] that makes Australia's look like nothing,” he says.

“I think China's bubble is going to burst and I cannot see any way that Australian property prices can keep going up," he says.

If his forecasts do not come true it will be because governments “wave the magic wand and kick the can down the road again”.

The Reserve Bank of Australia and most Australian economists say there is no bubble in Australian house prices. But Dent is sticking to his guns.

“Nobody in real estate development or government can afford to say that 'we have got a bubble',” he says. “They will always say it is not a bubble”.

But what of our special factors - we are a very large country with a unique economy and most of the population concentrated in a few conurbations - don't they count against the general rules for bubbles and their ending. Dent says he has studied every bubble in history and every time a bubble comes whether it is in tulip bulbs, gold, stocks or housing they are always described by those on the inside as being different, and unlikely to burst.

“I am saying that China has the biggest [bubble] and that is going to trigger [the bursting of] your bubble. Your real estate is so high it has to come down in the next few years."

Read more: http://www.theage.com.au/money/investing/nightmare-vision-of-impending--property...


Dent's an American, and they are freedom loving people who don't like getting ripped-off, unlike us. And what happens is, like sheep, the Aussies all huddle together in a corner too scared to move out across the paddock. Consequently prices in that 'corner' are going to be staying high. 
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Re: Australias Real Estate Bubble
Reply #133 - Feb 20th, 2014 at 1:30pm
 
Laugh till you cry wrote on Feb 18th, 2014 at 11:51pm:
[
You are another sad victim of the lucky country syndrome like car workers who are about to become permanently unemployed. Too busy counting your lucky stars to see the economic steamroller that's about to rob you of one dimension.

grow up. Ive seen tougher times than you can imagine. when you grow some hair on your balls you may understand.
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« Last Edit: Feb 20th, 2014 at 1:43pm by ian »  
 
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