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Old 19-04-2017, 07:19 PM   #31
zipping
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Default Re: Australia housing bubble

I think its fair to say that easy credit is a contributing factor but I'm not convinced its a major factor. There would have to be a material change in lending practices to add fuel and there hasn't been. I believe that the proportion of business to home loans has changed in preference to housing loans so that would account for some extra demand.
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Old 19-04-2017, 07:42 PM   #32
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Default Re: Australia housing bubble

I put it down to ; gst - on both the land and the building for new builds
Local council fees and developer contributions that are generally based on for profit private business rates.
stamp duty and commission are a deterrent against downsizing for smaller households.
lack of tradespeople driving up rates
increasing price of materials.
Also the quality of new builds - that is the higher quality inclusions people get the more expensive it is.
The solution - hecs or help style govt loan for the first 10% for first homebuyers. This is paid back via increased tax depending on income level.
Plus funding for apprentices wages - equivalent to the dole to get employers to take them on.
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Old 19-04-2017, 07:50 PM   #33
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Default Re: Australia housing bubble

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Yes but increasing CGT would impact the stock market greatly I would assume?
It would impact the politions pockets.

There should also be a limit on the amount of houses that are negatively geared and only Australians citizens should be able to buy propertly below 5 million.
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Old 19-04-2017, 08:13 PM   #34
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Default Re: Australia housing bubble

One of the reasons there's a CGT discount is because *investing* provides an economic benefit. Shares provide capital for companies to invest in growth which creates jobs/exports/etc. Building *new* houses creates construction demand, which again supports jobs.

What does sitting on land give back to the community? What does flipping established homes give back?

We don't give any sort of tax discounts for bank interest, perhaps we should start doing the same with some real estate 'investments' too....

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Old 20-04-2017, 11:39 AM   #35
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Default Re: Australia housing bubble

The middle class welfare in this country has to stop.

We are in so much debt and that hole is rapidly getting deeper.

Disabled and pensioners are forced to live below the poverty line which ultimately kills them. It's far worse than a rort.
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Old 20-04-2017, 05:17 PM   #36
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Default Re: Australia housing bubble

I has it a guess that unless you bought investment property within the past 2 years you're probably positively geared. With low interest rates and rising rents any tax loss is negligible. Different story if you have bought recently (in Melb or Syd) given that you need to borrow a lot more and rental income has remained pretty flat.
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Old 22-04-2017, 04:07 PM   #37
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Default Re: Australia housing bubble

Good posts Mr Trump
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Old 24-04-2017, 07:18 PM   #38
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Default Re: Australia housing bubble

Just seen on the news that Westpac has raised interest rates today. (Cant remember how much buy).

They reckon a quarter of Oz mortgage holders are already under financial stress and could'nt afford and extra $100 per month on mortgage payments.

I think the Oz bubble is starting to burst.

All those years ago on this forum Dave289 was right after all!
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Old 25-04-2017, 09:59 AM   #39
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Default Re: Australia housing bubble

http://www.smh.com.au/business/austr...24-gvr2ai.html
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Old 25-04-2017, 10:00 AM   #40
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http://www.smh.com.au/business/austr...24-gvr2ai.html
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Old 25-04-2017, 12:39 PM   #41
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Default Re: Australia housing bubble

I remember a few ago they were saying house prices were gonna stay flat.
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Old 25-04-2017, 01:39 PM   #42
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Default Re: Australia housing bubble

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I remember a few ago they were saying house prices were gonna stay flat.
It needs to at least flatten out or maybe correct for a few years until wage growth catches up.

They reckon the new government FHB incentives are only going to push prices higher.

Something drastic needs to be done.
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Old 25-04-2017, 03:10 PM   #43
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Default Re: Australia housing bubble

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It needs to at least flatten out or maybe correct for a few years until wage growth catches up.

They reckon the new government FHB incentives are only going to push prices higher.

Something drastic needs to be done.
I don't disagree. Reduces the investment incentive and the money will go elsewhere.
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Old 27-04-2017, 05:22 PM   #44
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Default Re: Australia housing bubble

Apparently Perths economy is crashing as and many families are under big financial stress.

Lets wait and see if the same thing happens to Sydney and Melbourne?
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Old 27-04-2017, 05:35 PM   #45
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Default Re: Australia housing bubble

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Originally Posted by CoolBFWagon View Post
Just seen on the news that Westpac has raised interest rates today. (Cant remember how much buy).

They reckon a quarter of Oz mortgage holders are already under financial stress and could'nt afford and extra $100 per month on mortgage payments.

I think the Oz bubble is starting to burst.

All those years ago on this forum Dave289 was right after all!
The error with Dave289's prediction is that he didn't expect a boom in prices first.
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Old 27-04-2017, 05:40 PM   #46
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Default Re: Australia housing bubble

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Apparently Perths economy is crashing as and many families are under big financial stress.

Lets wait and see if the same thing happens to Sydney and Melbourne?
Not if but when, IMHO.









I'm old so I know if I keep predicting a property crash I will be correct,




eventually......
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Old 28-04-2017, 10:14 AM   #47
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Default Re: Australia housing bubble

In the end, it comes down to the most basic human condition, Greed.

greed
ɡriːd/
noun
noun: greed

intense and selfish desire for something, especially wealth, power, or food.


We are all to blame to an extent, however
Banks are the biggest winners when it comes to property
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Old 28-04-2017, 12:31 PM   #48
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Default Re: Australia housing bubble

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Apparently Perths economy is crashing as and many families are under big financial stress.

Lets wait and see if the same thing happens to Sydney and Melbourne?
Better hope not.

Real estate is losing big money here.
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Old 28-04-2017, 12:44 PM   #49
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Default Re: Australia housing bubble

Sorry to hear such bad news mate.

Apparently the Chinese are still extreemely interested in Sydney and Melbourne so I really dont know whats going to happen.

For some reason all other states are pretty flat.

Lets wait and see what Turnbulls new budget brings?
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Old 28-04-2017, 01:05 PM   #50
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Default Re: Australia housing bubble

I seem to remember you bought a house to live in, you bought a car to drive, you bought a caravan to holiday in not something you just flip for a profit.
I wonder what ever happened to doing a decent days work.
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Old 28-04-2017, 01:11 PM   #51
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Default Re: Australia housing bubble

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I seem to remember you bought a house to live in, you bought a car to drive, you bought a caravan to holiday in not something you just flip for a profit.
I wonder what ever happened to doing a decent days work.
I guess anything could be classed as an investment.

But, living basics like shelter should be left out of it.

I dont think housing should be made affordable so everyone can buy a home, fact will always be you need a steady job/income to maintain one.

Im also over people saying how the cities are so expensive, pretty simple, dont live there. We just need jobs moved out of the cities and it would solve half the issue.
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Old 28-04-2017, 02:51 PM   #52
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Default Re: Australia housing bubble

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Originally Posted by CoolBFWagon View Post
Apparently Perths economy is crashing as and many families are under big financial stress.

Lets wait and see if the same thing happens to Sydney and Melbourne?
Perth's issues are mainly due to the mining boom slowly so much. Hardly relevant to Melb or Sydney.
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Old 28-04-2017, 07:13 PM   #53
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Default Re: Australia housing bubble

Even if house prices drop, they will increase again eventually.
Just need to buy during the drop if you can
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Old 28-04-2017, 07:18 PM   #54
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Default Re: Australia housing bubble

For me a house is for you to live in, not an investment but I tell you what I am regretting not getting in on it at this point since I still have not bought yet

Canberra has hit $700k median house price. I've been looking for sometime now and it is not uncommon to have 30-50 people at some open houses. I can only imagine how bad Sydney and Melbourne is.
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Old 28-04-2017, 07:18 PM   #55
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Default Re: Australia housing bubble

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Even if house prices drop, they will increase again eventually.
Just need to buy during the drop if you can
Ahhhh no......


*Coughs* JAPAN *Coughs*
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Old 28-04-2017, 08:14 PM   #56
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Default Re: Australia housing bubble

Here is a simple easy to way for the govt to start the ball rolling. Outlaw interest free loans, this is almost exclusively used by investors.

Unfortunately as others have said any subsidy the government puts into play for more affordable housing only pushes prices up. History is never wrong.

For those that wish for a correction I can imagine that a whole new bunch of cashed up investors will be quite happy to take up the slack. Those with money in shares will just swap over to real estate. I know that's what I will do, and don't forget for all this to happen the banks will take a BIG hit so they aren't going to be offering 4% more like 8% +. So unless you have a good deposit in cash ready you may still miss out anyway

Then the cycle just starts again. It sucks but that's the capitalist system.
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Old 28-04-2017, 08:23 PM   #57
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Ahhhh no......


*Coughs* JAPAN *Coughs*
Depends on foreign investment rules doesn't it. Oz is still a nice place to aspire to, and for the time being a reasonably tolerate place.

1 million Kiwis can't be wrong ?? Lol
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Old 28-04-2017, 08:48 PM   #58
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I seem to remember you bought a house to live in, you bought a car to drive, you bought a caravan to holiday in not something you just flip for a profit.
I wonder what ever happened to doing a decent days work.
Thank you Mr Kerrigan. Sorry sounds like a line from " THE CASTLE ".
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Old 29-04-2017, 01:23 PM   #59
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Default Re: Australia housing bubble

Makes me glad to live in the country. How's that serenity, dals.
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Old 29-04-2017, 02:55 PM   #60
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Perth's issues are mainly due to the mining boom slowly so much. Hardly relevant to Melb or Sydney.
Perths problems were caused by greed.

So many people out to make a quick buck. I'm glad they are getting burnt.

And it's totally relevant to Melbourne and Sydney. Do you guys think you are immune?
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