Society/Culture Australian Property Prices to Crash?

[yodellinhank]

Thats a good size block these days, funny thing is most people don't want yards to maintain.

Bigger houses on smaller blocks.

 

[yodellinhank]

I was looking at a reddit thread the other day where a house in Carnegie had been flipped for a 50% increase in 18 Months. (Approx 800k).

How is that sort of sh*t sustainable in any fashion?

It isn't, and the people who bought it won't flip it again in 18 months time for a 50% increase. So stress less.

 

[FRUMPY]

More like can't afford money or time to do landscaping because they rather eat out every night and travel for life experiences.

More likely people are just lazy these days

 

[Bombermania]

Thats a good size block these days, funny thing is most people don't want yards to maintain.

Many newer estates don't give the home builders much choice.

The developers make most of the decisions about what is built and how its built and landscaped.

 

[Bombermania]

I was looking at a reddit thread the other day where a house in Carnegie had been flipped for a 50% increase in 18 Months. (Approx 800k).

How is that sort of sh*t sustainable in any fashion?

Reddit is great for a laugh but not for serious research.

That story might be true but it could also be an agent or someone exaggerating a bit.

 

[Chief]

I was looking at a reddit thread the other day where a house in Carnegie had been flipped for a 50% increase in 18 Months. (Approx 800k).

How is that sort of sh*t sustainable in any fashion?

When I hear this stuff I keep going back to the money supply. There is twice as much money in the world today cf 12 months ago.

It doesn't sound anything like a normal time. Values of lots of things don't appear to be related to anything "real". Whatever real is.

Second hand car prices are up due to supply issues - apparently.

Crypto bubble.

Housing prices.

It's utterly odd.

 

[Halloween Jack]

I was looking at a reddit thread the other day where a house in Carnegie had been flipped for a 50% increase in 18 Months. (Approx 800k).

How is that sort of sh*t sustainable in any fashion?

was it renovated, subdivided or something? As I find that very heard to believe if not.

 

[HirdsTheWord]

RBA more bullish on economy as it holds rates at record low

Governor Philip Lowe says the central bank now expects GDP to expand by 4.75 per cent this year, up from a forecast of 3.5 per cent in February.

www.smh.com.au

AMP and the ABS are now saying that investors are now starting to out number First Home Buyers in terms of % of loans taken out. IE More investors are buying properties than first home buyers are.

if this doesn't show you why investing capabilities need to be seriously reviewed than nothing will.

 

[CatFan79]

The developers make most of the decisions about what is built and how its built and landscaped.

They basically want to satisfy the market.. If people can't afford bigger blocks, they get smaller.

Less room for trees and shrubs though, and it sure makes these estates depressing.

Second hand car prices are up due to supply issues - apparently.

People in high numbers are using that equity in their homes to borrow more to buy cars, boats, caravans etc...

Those with few brain cells pulled their super out last year for the same reasons.

 

[HirdsTheWord]

They basically want to satisfy the market.. If people can't afford bigger blocks, they get smaller.

Less room for trees and shrubs though, and it sure makes these estates depressing.



People in high numbers are using that equity in their homes to borrow more to buy cars, boats, caravans etc...

Those with few brain cells pulled their super out last year for the same reasons.

That's not entirely true.

Developers rarely want to satisfy the market.......They want to Maximize their $/m2 return of which ends up in these types of blocks you are referring too.

The market does indeed often purchase them, but more so out of need rather than want. You can only afford wat you can afford.

 

[CatFan79]

Developers rarely want to satisfy the market.......They want to Maximize their $/m2 return

Yeah, like anybody else who sells anything.. You'd do the same if you were a developer.

 

[HirdsTheWord]

Yeah, like anybody else who sells anything.. You'd do the same if you were a developer.

that's capitalism for you.

 

[Royal Flush]

Lol like making a profit is immoral

 

[CatFan79]

that's capitalism for you.

What's your point?

You're down on Capitalism because you think it's unfair people can't have what they can't afford?

 

[Chief]

Lol like making a profit is immoral

From anything?

 

[Deliverance]

Fair enough for developers to do that. They're just taking advantage of the fact that tax advantaged investors prefer existing housing stocks. First home buyers are forced in to the development end of town, because supply in inner/middle suburbs is sapped up by said investors.

 

[Royal Flush]

From anything?

Legal commercial activity

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[HirdsTheWord]

What's your point?

You're down on Capitalism because you think it's unfair people can't have what they can't afford?

no, I have nothing against capitalism - and your comment about "cant have what they cant afford" is frankly, a piss take. It isn't about having what you cant afford. Its about being able to have the same opportunities as previous generations based on your ability to work hard. Not simply rewarding dumb luck based on what time you were born in. This balance is now basically eroded based on the governments lack of forsight.

My main gripe is and has always been that the Government & the RBA have allowed the Australian Property Market to be first and foremost a money making scheme, as opposed to the basic commodity of it being a place where you live and raise a family.

The mere fact that investors are now forecasted to buy more property than first home buyers just proves this point.

We are literally pissing away our children's chances of every buying a home because we are all too focused on making money now, as opposed to doing the right thing for the future.

How the Government & The RBA are simply letting this continue without any intervention is absolutely mind boggling. They are letting it get to a point where they cannot switch the machine off without people going into financial ruin. Of which they will need to bail them out.

I am literally the ONLY person I have seen on this thread, who is an investor that has welcomed removal of negative gearing and increased Taxation on investment properties.

 

[Royal Flush]

Is Australia an isolated property market unlike anywhere else in the world.



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[HirdyLannister]

I am literally the ONLY person I have seen on this thread, who is an investor that has welcomed removal of negative gearing and increased Taxation on investment properties.

It's easy for you to take the moral high ground when you're household income is what, 300k? (vaguely remember you mentioning you and your partner on good coin)

Screaming at the top of your lungs with I'm happy to sacrifice by paying more tax and not negative gear means it doesn't effect you the slightest if it was introduced.

 

[Royal Flush]

It's easy for you to take the moral high ground when you're household income is what, 300k? (vaguely remember you mentioning you and your partner on good coin)

Screaming at the top of your lungs with I'm happy to sacrifice by paying more tax and not negative gear means it doesn't effect you the slightest if it was introduced.

The worst attempt at virtue signalling or else being dishonest about his personal circumstances

On Pixel 4 using BigFooty.com mobile app

 

[Chief]

God.

Any sortof unselfish, kind, or generous attitude is now “virtue signalling”.

* me.

 

[Deliverance]

People just trying to deflect from their own selfishness.

 

[HirdsTheWord]

It's easy for you to take the moral high ground when you're household income is what, 300k? (vaguely remember you mentioning you and your partner on good coin)

Screaming at the top of your lungs with I'm happy to sacrifice by paying more tax and not negative gear means it doesn't effect you the slightest if it was introduced.

My income has nothing to do with it, my income doesn't drive up housing prices. I got educated & worked hard. That should be the aim of everyone.

I'm not saying people shouldn't and cant invest in things to maximize their money. I'm saying it should never have been allowed to be a commodity like housing. The government should have allowed better reforms for people to invest in other areas like business, stocks etc etc.

If we keep not thinking about future generations what are our kids going to to in 30 years? just limit themselves to rent?

The theme of this thread is "* the future generations, I want my investment now. They can just live hours away from the city. Deal with it"

 

[HirdsTheWord]

God.

Any sortof unselfish, kind, or generous attitude is now “virtue signalling”.

fu** me.

unfortunate theme of the thread Chief.

"* everyone else if it impacts me"