Society/Culture Australian Property Prices to Crash?

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_Swoon

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Hot off the press. Property prices are finally crashing!


NOT.

WHERE ARE ALL YOU DOOMSDAYERS??? View attachment 701716
The media has two speeds; boom and bust because nothing else gets clicks. When they aren't pushing FOMO, they're pushing FONGO but only suckers buy that s**t. The whole agenda is about convincing idiots to buy for overs or sell for unders and keep the real estate market churning for the agents making commission with every house that gets exchanged.

That being said, the recovery in property prices probably wouldn't have happened had the election gone the way most punters predicted. I reckon most of the pessimism in property would have stemmed from not knowing what Shorten's planned changes would have held for the market.
 

The Edukator

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Bit early to be crowing about a recovery after a few weeks, when there's been two-three years of solid declines.

Strong reminder here of Ross Lyon sycophants after the Collingwood win.
I'm crowing about there not being some massive disaster. The steam coming out of the market was a good thing but there's just so many idiots calling out the end of the world. Meanwhile I continue to make plans to buy another IP and laugh at those missing out.
 

DaRick

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Hot off the press. Property prices are finally crashing!


NOT.

WHERE ARE ALL YOU DOOMSDAYERS??? View attachment 701716
Economists are very good at predicting what has already happened; they're not so good at predicting the future.

Put simply, if you're going to listen to economist predictions, then why not listen to fortune-tellers? They're probably about as likely to be right.
 

its free real estate

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Economists are very good at predicting what has already happened; they're not so good at predicting the future.

Put simply, if you're going to listen to economist predictions, then why not listen to fortune-tellers? They're probably about as likely to be right.
I wouldn’t be surprised to see property prices doing anything other than moving sideways for a long time. But this would shred Australia’s economy. What else do we do here?
 

DaRick

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I wouldn’t be surprised to see property prices doing anything other than moving sideways for a long time. But this would shred Australia’s economy. What else do we do here?
I know that's a rhetorical question, but we do export minerals.

That being said, so does Africa and it doesn't help them that much.

RE what faces Australia's economy, this graph is also pretty scary:

701862


They say this every few months.
Yeah, it's not like journalists or economists to big up things relating to the economy LOL.
 

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Steinfreo

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What you smooth brains that dont look at history and swallow every load Murdoch and company give you is that we are gonig to see absolutely zero growth EVER AGAIN if the standard of living of everyone across the entire population does not rise through real wage growth. The Chinamen arent bailing us out this time we are on our own, and its going to take a serious changes to the economy for us to get going again. Being a dirty leftie I can only see change occurring through a reemergence of a vibrant/relevant/dynamic labor movement, unions needs to change as real working conditions have changed. We really need another FDR so badly, someone to mobilise the working man for his own interests, our mps on both side are ******* ass clowns.
 

_Swoon

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Economists are very good at predicting what has already happened; they're not so good at predicting the future.

Put simply, if you're going to listen to economist predictions, then why not listen to fortune-tellers? They're probably about as likely to be right.
Haven't they been predicting gradual falls of 15-20% in Australian capital cities since 2016? Isn't that exactly what has happened so far?
 

Frank Grimes

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Maybe someone like Steve Keen has, but he's not exactly mainstream.
Didn't he predict that property prices were going to fall something like 40% back in 2007-2008 and lost a bet? Seeing that they have almost doubled since then, they would have to fall 70% from its peak for him to be right.

I can't see that happening.
 

DaRick

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Very small parts of Melbourne and Sydney’s economy are related to minerals exports.
Talking nationally.

Didn't he predict that property prices were going to fall something like 40% back in 2007-2008 and lost a bet? Seeing that they have almost doubled since then, they would have to fall 70% from its peak for him to be right.

I can't see that happening.
I don’t think Andrew Wilson has.
Well there we go. They're just as prone to guesswork as everyone else.
 

Poor Form

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I observed drops of up to 20% in some areas of Melbourne since Nov '17 to recent months, that is a crash in any world except ours where we were just coming off 10-20% rises per year it does also appear the market will start rising again so happy days for those who bought in recently for the foreseeable future.
 

Benny78

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So the cashrate has been cut 0.5 and ANZ are only passing on 0.25. After passing nothing from the first rate cut

Any banks actually passing on the full 0.5?
 
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