Society/Culture Australian Property Prices to Crash?

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Jello_B said:
They may not be able to get >5-7x on income which they shouldn’t anyway.
Click to expand...

The financiers will get the losses they deserve, arguably so do the investors, the question for me is how long will it last .... Perth is bouncing along the bottom & may have to wait for the east coast to bottom before the Reserve Bank will act.
https://www.perthnow.com.au/busines...er-cent-fall-in-value-for-2018-ng-b881063077z
The median house price in Perth now stands at $446,011, with values back to levels last seen in March 2009.
 
Kwality said:
The financiers will get the losses they deserve, arguably so do the investors, the question for me is how long will it last .... Perth is bouncing along the bottom & may have to wait for the east coast to bottom before the Reserve Bank will act.
https://www.perthnow.com.au/busines...er-cent-fall-in-value-for-2018-ng-b881063077z
The median house price in Perth now stands at $446,011, with values back to levels last seen in March 2009.
Click to expand...
Difficult to know. I didn’t think Perth would stay down as long as it has.
 

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Bombermania said:
Arts degrees often lead to high paying corporate sector jobs, I know of several people with arts degrees that enjoy six figure incomes.
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What's the ratio of people you know with arts degrees vs other industry specific degrees that have 6 figure incomes. My peer group is 25-30 and I know noone with an arts degree on 6 figures but countless others in property, finance, engineering and law with 6 figures.

The arts kids have all moved to Fitzroy and Collingwood to drop pills every weekend.
 
The Edukator said:
What's the ratio of people you know with arts degrees vs other industry specific degrees that have 6 figure incomes. My peer group is 25-30 and I know noone with an arts degree on 6 figures but countless others in property, finance, engineering and law with 6 figures.


The arts kids have all moved to Fitzroy and Collingwood to drop pills every weekend.
Click to expand...
They enjoying life with that 6 figures? Everyone I know in those fields does 10-12 hours a day and hates their work life balance. The ones you know ain't even hit marriage and kids territory yet.
 
Deliverance said:
They enjoying life with that 6 figures? Everyone I know in those fields does 10-12 hours a day and hates their work life balance. The ones you know ain't even hit marriage and kids territory yet.
Click to expand...
Lots of people enjoy their careers.
They get a lot of reward and satisfaction from it.

You kind of make the assumption that everybody is clock watching.
Some of us bounce out early on a Monday .

My personal opinion is that there is a time limit on how long you can relax on holidays and do nothing before you start missing being productive again.
9-20 days is max for me.

Sent from my Pixel 3 XL using Tapatalk
 
Royal Flush said:
Lots of people enjoy their careers.
They get a lot of reward and satisfaction from it.

You kind of make the assumption that everybody is clock watching.
Some of us bounce out early on a Monday .

My personal opinion is that there is a time limit on how long you can relax on holidays and do nothing before you start missing being productive again.
9-20 days is max for me.

Sent from my Pixel 3 XL using Tapatalk
Click to expand...
No assumptions there, I asked questions about his peers and explained my personal experience with people in those fields.
 

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Royal Flush said:
Lots of people enjoy their careers.
They get a lot of reward and satisfaction from it.

You kind of make the assumption that everybody is clock watching.
Some of us bounce out early on a Monday .

My personal opinion is that there is a time limit on how long you can relax on holidays and do nothing before you start missing being productive again.
9-20 days is max for me.

Sent from my Pixel 3 XL using Tapatalk
Click to expand...
Yeah I like my job.

My GF doesnt work and the rare times Ive stayed home Im bored sitting at home watching daytime tv.

I say how do you do this every day? Id go insane.

Like getting up and doing something. Might as well get paid for it

On SM-G925I using BigFooty.com mobile app
 
Cuzz09 said:
Yeah I like my job.

My GF doesnt work and the rare times Ive stayed home Im bored sitting at home watching daytime tv.

I say how do you do this every day? Id go insane.

Like getting up and doing something. Might as well get paid for it

On SM-G925I using BigFooty.com mobile app
Click to expand...
Is that by choice ? Or have you afforded her that lifestyle...

I'm guessing the yoga pants fit her like a glove..

The echo and bustle of a Westfield's drives me nuts too.

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Royal Flush said:
Is that by choice ? Or have you afforded her that lifestyle...

I'm guessing the yoga pants fit her like a glove..

The echo and bustle of a Westfield's drives me nuts too.

Sent from my Pixel 3 XL using Tapatalk
Click to expand...
Nah she has a disability and has a sort of home business but goes weeks without work so gets discouraged.

But we work it out.



On SM-G925I using BigFooty.com mobile app
 
The Edukator said:
What's the ratio of people you know with arts degrees vs other industry specific degrees that have 6 figure incomes. My peer group is 25-30 and I know noone with an arts degree on 6 figures but countless others in property, finance, engineering and law with 6 figures.

The arts kids have all moved to Fitzroy and Collingwood to drop pills every weekend.
Click to expand...

Couldn't give an exact ratio as I don't know everyone's qualifications but of the people that I know hold an arts degree, its probably something like your 20-25, and they are pretty much in the areas you list - finance, law and HR/recruitment, many of them also hold a second degree or co-majored something other than Arts. some like their work, others do it because it pays well.
 
DaRick said:
Does who you are matter nowadays than the degree you do, with respect to life outcomes?
Click to expand...

I think that depends on the person's career path, a medical or legal person needs it but in other fields its less important besides giving that person a certain knowledge level.
 
Last edited:
Bit of exaggeration going on in the media. Cant just have a pullback from a spike high. Its just not sensational enough for them.

10-15% tops. Nowhere near as bad as the early 90's and seems just a fraction weaker than after the GFC.

Prices are simply back to where they were 2 maybe 3 yrs ago i'd say. Thats nothing unless u bought in 2017.

When buyers arent taking the silly overpriced offered side anymore, and sellers are coming down to hit the bid side...thats 10% anyway. Perfectly normal pullback and hardly anything to worry about at this point. Saw a lot worse early 90's. Will vary by region with westiland the hardest hit as always.
 
Scotland said:
What are you talking about? The fact that you can get 500sqm of land in the boonies for the same price as an apartment closer in was not my point at all.

A modest 3 bedroom home in a decent area used to be the domain of the median income earner. Now that same home is worth $1m, making it the domain of the income rich or those who are old enough to have considerable equity. There is a huge disconnect.
Click to expand...
To be fair, the domain of the median income earner with no wealth (ie. the first home buyer) has never been a relatively decent area. Areas in Melbourne we consider decent now like Pascoe Vale, Coburg, Preston, Box Hill, Mulgrave etc. were the rougher parts of town 30 years ago, now they're only decent because they've gentrified and the original inhabitants have turned 60 or sold and moved out. Suburbs like Narre Warren, Sydenham, Point Cook and Caroline Springs will be seen as decent parts of town in 20 years or so purely because they'll have cleaned up and they'll be closer into the city and transport than the new alternatives. Those who bought there originally and kept the property will end up with a windfall and the cycle will continue.

But IMO the problem facing the first home buyer is the entry level, buy-in suburbs are getting further and further away from the geographical centre of Melbourne while the jobs (with the decline in manufacturing and rise in service sector positions) are actually moving to the CBD. In addition, the transport network isn't keeping pace with this shift. Living in Coburg 30 years ago wasn't too bad if you worked at the Ford plant in Broadmeadows, but that's not an option for most anymore and an increasing amount of people need to commute an hour to work from a place like Pakenham or Diamond Creek if they decide to buy a first house. And it's only going to get worse. People have always had to put up (and I think they're still willing to tolerate) high levels of crime, incohesive neighbourhoods, and shitty schools and health clinics in the entry level suburbs but the modern commute is totally screwing work/life balance which makes it extremely unattractive. I do not blame would-be first home buyers the least for not wanting to live in Pakenham and spend over an hour on trains to the CBD each day for the next five or so years, what an awfully shitty way to live that would be.
 
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