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07-10-2021, 04:48 PM | #1621 | |||
FF.Com.Au Hardcore
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07-10-2021, 04:56 PM | #1622 | ||
DIY Tragic
Join Date: Apr 2018
Location: Sydney, more than not. I hate it.
Posts: 22,907
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I see much of it as a knock-on. Where I am in Sydney is Chinese funded; would dearly love to see proper forensic accounting on this circus. The Aussies cash out and that’s driving other areas up. I’m on a quarter acre and we used to joke about selling for $12M but think the risk of that being taken seriously is only a few years off… 🤬
Even my acreage at the ****-end of Ganmain is creeping up and I’m starting to consider whether it would be better converted into residential fringe at Moama or similar. That sucks in a way, because I wanted big space on the unloved edge of a Riverina town and it’s no longer that. |
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07-10-2021, 04:57 PM | #1623 | |||
Where to next??
Join Date: Oct 2006
Location: Sydney
Posts: 8,893
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Properties are under contract within days. I've given up looking to be honest as I think I'm forcing myself to find 'anything' rather than something I like. I'm changing my mind every week in terms of what I'm looking for. After missing out on several properties I was going to buy a unit as a short term solution but I can't see myself throwing half a million $ at an older 2br unit just to then move again in a year or 2 and renting it out or selling. Will sit back and watch the world go by. I think once borders open and lending rules get a little harder we will get a better indication of where the market is heading. I'll keep an eye on listings none the less but will stick to renting where I am till I find a decent block of land to build on or a house I'm happy to move right into. Too many variables to predict where the market is heading. Not expecting a big drop, not expecting double digit increases either. I've noticed that more properties are being listed at a price rather than auction, and that places for auction are selling before the day. There is not much available at the moment so will wait and see.
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07-10-2021, 05:25 PM | #1624 | ||
Critical Thinker
Join Date: Jan 2005
Location: Adelaide
Posts: 20,409
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well Im in the process of building another house within the next 12 months. Going by some of the predictions here, Im hoping I will sell my current house for some of this inflation people are experiencing and own the new house outright.
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"the greatest trick the devil pulled, is convincing the world he doesn't exist" 2022 Mazda CX5 GTSP Turbo 2018 Hyundai Santa Fe Highlander 1967 XR FALCON 500 Cars previously owned: 2021 Subaru Outback Sport 2018 Subaru XV-S 2012 Subaru Forester X 2007 Subaru Liberty GT 2001 AU2 75th Anniversary Futura 2001 Subaru GX wagon 1991 EB XR8 1977 XC Fairmont 1990 EA S Pak 1984 XE S Pak 1982 ZJ Fairlane 1983 XE Fairmont 1989 EA Falcon 1984 Datsun Bluebird Wagon 1975 Honda Civic |
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07-10-2021, 06:11 PM | #1625 | ||
Moderator
Join Date: Jan 2014
Location: Melbourne
Posts: 7,940
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For those who believe the bubble is going to burst soon...
Consider this... There has not been a crash in Australian house prices in the major cities for the last 50 years. During that time Australia has weathered:
Still house property prices continued to rise, despite the above factors. There may have been some slight corrections in the housing market along the way, but nothing major, causing people to jump out of buildings. So why do people all of a sudden think it is going to crash now? What do they think will create the perfect storm? |
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07-10-2021, 09:18 PM | #1626 | ||
FF.Com.Au Hardcore
Join Date: Apr 2005
Location: Canberra
Posts: 13,465
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I think that while we have lower immigration rates there is still demand. And demand is higher than supply, rates are cheap, and people have stashed a lot of cash of the last two years.
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07-10-2021, 09:27 PM | #1627 | |||
Guest
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Posts: 1,892
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07-10-2021, 09:42 PM | #1628 | ||
Critical Thinker
Join Date: Jan 2005
Location: Adelaide
Posts: 20,409
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"the greatest trick the devil pulled, is convincing the world he doesn't exist" 2022 Mazda CX5 GTSP Turbo 2018 Hyundai Santa Fe Highlander 1967 XR FALCON 500 Cars previously owned: 2021 Subaru Outback Sport 2018 Subaru XV-S 2012 Subaru Forester X 2007 Subaru Liberty GT 2001 AU2 75th Anniversary Futura 2001 Subaru GX wagon 1991 EB XR8 1977 XC Fairmont 1990 EA S Pak 1984 XE S Pak 1982 ZJ Fairlane 1983 XE Fairmont 1989 EA Falcon 1984 Datsun Bluebird Wagon 1975 Honda Civic |
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08-10-2021, 11:07 AM | #1629 | |||
FF.Com.Au Hardcore
Join Date: Feb 2005
Posts: 5,085
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The two big events that should have precipitated a crash, the GFC and the pandemic, didnt. The GFC, we were relatively unscathed because of a combination of substantial stimulus and booming resources, so unemployment never shot up. When the pandemic hit, there was unprecedented financial stimulus, larger than the GFC. Lower income workers who were stood down actually had an increase in income on the support payments. The eviction moratoriums and mortgage holidays insulated that portion of the market from the pandemic's impacts, there were a number of stimulus schemes directed at the property market. So yes, the property market hasn't had a crash, but we've been spending more and more government funds to make sure it doesn't. How confident are you we can just keep money-printing our way out of these messes? |
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08-10-2021, 12:25 PM | #1630 | ||
T3/Sprint8
Join Date: Jan 2005
Location: Australia
Posts: 16,652
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It is interesting being we've brought up the '07 GFC for the climb UP in everything since then has been alot steeper than pre GFC.
Have a good geeze through some of the graphs below https://australiandebtclock.com.au/ Despite that who's confident ? I thought just the same post GFC, if we can say we're in a bubble since then its been a huge ride, who knows when its going to stop/pop but sitting on the fence wondering what if or when ? hey thats the gamble just don't over extend yourself - hopefully you keep healthy or avoid any other hiccup you'll work around the down slide whenever it occurs I guess.
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01-11-2021, 09:49 PM | #1631 | ||
If it ain't broke........
Join Date: Dec 2007
Location: Sunshine Coast Qld
Posts: 18,875
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01-11-2021, 10:06 PM | #1632 | ||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,938
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I'm calling it now. Tomorrow's RBA meeting will result in a 0.25 points rise.
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~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button. |
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01-11-2021, 10:46 PM | #1633 | ||
Where to next??
Join Date: Oct 2006
Location: Sydney
Posts: 8,893
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Too early. Well before 2024 as previously stated but I'm thinking we will see movement mid 2022.
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01-11-2021, 10:51 PM | #1634 | ||
Where to next??
Join Date: Oct 2006
Location: Sydney
Posts: 8,893
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Went to 7 open houses on Saturday. One place I really liked. Advertised $620-660k.
Put in my offer of $671 including paying holding deposit and docusigning contract. Got the call Sunday it sold for $693k. No option to over bid as by the time they called me both parties signed. Other places were crap... Back to the drawing board I go.
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01-11-2021, 11:02 PM | #1635 | ||
DIY Tragic
Join Date: Apr 2018
Location: Sydney, more than not. I hate it.
Posts: 22,907
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I think as a whole it’s going to start impacting peoples’ mental health a lot more, across the country. Trying to rationalise an illogical but unstoppable situation while balancing your financial position vs perceptions of risk. Add a few more hot dry years and the arduous absurdity will be grinding so many down.
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01-11-2021, 11:11 PM | #1636 | ||
FF.Com.Au Hardcore
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Location: Canberra
Posts: 13,465
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01-11-2021, 11:16 PM | #1637 | ||
DIY Tragic
Join Date: Apr 2018
Location: Sydney, more than not. I hate it.
Posts: 22,907
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When’s that feral election? I know the RBA is supposed to be impartial but suspect if they demonstrate too much autonomy right now, they might feel a government breathing down their collar…
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02-11-2021, 10:01 AM | #1638 | ||
Guest
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02-11-2021, 10:54 AM | #1639 | |||
Banned
Join Date: Nov 2016
Location: Perth Australia
Posts: 3,618
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02-11-2021, 01:12 PM | #1640 | |||
FF.Com.Au Hardcore
Join Date: Nov 2009
Location: Perth
Posts: 1,675
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Quote:
(Next year they'll have a meeting and despite saying today they wouldn't do anything until 2023, they'll again revise that and say they might do something in 2022 instead.) IE, they said in the past they aren't going to do anything about rates (back when they were worried about recession and stagflation). Now they have to slowly walk that back without causings alarms by gradually saying they are preparing to lift rates sooner than expected. But it won't be for a year or two. They're just warning people to expect something in the future, and sooner than expected. Last edited by oldel; 02-11-2021 at 01:18 PM. |
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02-11-2021, 03:52 PM | #1641 | ||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,938
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The "courageous" call didn't come off..... Banks have spent the last 6 or so months moving customers to fixed or part fixed rates. I still reckon there will be an increase, within the next qtr.
https://www.theage.com.au/politics/f...02-p5957g.html "The official line that a rate rise would not occur until 2024 was missing from Dr Lowe’s statement on Tuesday."
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~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button. |
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02-11-2021, 07:26 PM | #1642 | ||
FF.Com.Au Hardcore
Join Date: Nov 2007
Location: Riff
Posts: 12,422
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Now with the borders open, await the influx of o/s buyers.
Price hike time!
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02-11-2021, 07:41 PM | #1643 | ||
Banned
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02-11-2021, 09:16 PM | #1644 | ||
WT GT
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02-11-2021, 09:25 PM | #1645 | ||
FF.Com.Au Hardcore
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they dont.
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FGII XR6 IN LIGHTNING STRIKE R52 SIII IN GUN METALLIC |
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02-11-2021, 09:36 PM | #1646 | ||
Regular Member
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03-11-2021, 10:29 AM | #1647 | ||
Banned
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03-11-2021, 01:39 PM | #1648 | ||
Peter Car
Join Date: Dec 2004
Location: geelong
Posts: 23,145
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I read yesterday that house values in my area have officially increased by nearly 25% in the last 12 months. That's insane.
But i'll take it |
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03-11-2021, 02:18 PM | #1649 | ||
WT GT
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03-11-2021, 04:02 PM | #1650 | ||
T3/Sprint8
Join Date: Jan 2005
Location: Australia
Posts: 16,652
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hehe so true......
People can go on about its all too hard but I see it in my own kids @ 16/21/29 many times. On mobile - check Uber eats - check Buy shoes - check Buy shirts - check Sports Bet - oh gamble responsively - check Cafe smashed avo brekky - check Buy this buy that - check Dad want anything ? I look at time, its midnight, no thanks, Uber eats - check Spending money today is all too damn easy but they are at their own peril.
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Tickfords T3/TS50 '02 Sprint8 manual Sept 24 '16 Daily Macan GTS "Don't believe everything you read on the internet. Abraham Lincoln" |
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