The future of Australian property prices

[numbercruncher]

round about the equivalent of the compensation our lending Victims are getting

The O'Donnells have had the $500,000 loan against their home cut by 75 per cent following unsuccessful Supreme Court action taken by their lender, Brisbane-based First Mac.

Good work O'Donnells, you lil ripper - stick it to them Ciminal Banker cartels !

 

[moXJO]

Hate to break it to the Permabull crew but Low-Doc is a big part of the over inflated RE market in Oz -



.....

5.5% of lo docs in default. And lo docs are 8-10% of all mortgages. So that's .55% of all mortgages. Plus full docs- 1.26% default, 90% of all mortgages. 1.134%. Total 1.6834% of all mortgages together.
Me so scared

 

[numbercruncher]

ALMOST one in 10 homes in WA are currently worth less than was paid for them, with two southern regions in the nation’s top five for negative equity, according to RP Data.

The market analyst’s quarterly Baseline Equity Report to the end of December, released today, revealed that 6.4 per cent of Australian homes are currently valued at less than the price they were bought for.*

http://www.perthnow.com.au/business/negative-equity-starting-to-bite-in-wa/story-e6frg2ru-1226305392616

And that doesnt include the enormous amounts of boofheads who unlocked their " equity mate " to live far beyond their capabilities .....

Not to mention all the retirees that didnt plan for retirement using the home as a ATM week n week out now and going forward ....

The fat lady has Begun to sing my wee permabull friends ....

 

[moXJO]

http://www.perthnow.com.au/business/negative-equity-starting-to-bite-in-wa/story-e6frg2ru-1226305392616



The fat lady has Begun to sing my wee permabull friends ....

Gina Rinehart singing, must be all that money she is rolling in. The future is bright my dropbear friend

 

[numbercruncher]

Gina Rinehart singing, must be all that money she is rolling in. The future is bright my dropbear friend

Indeed it is dispite our currently slightly different take on things .....

 

[explod]

Gina Rinehart singing, must be all that money she is rolling in. The future is bright my dropbear friend

Not to sure how long she will last.

With the recent high price of commodities worldwide we have massive new coal and ion ore fields opening up in South Africa, Indonesia and South America.

China now hitting the wall due to overproduction against falling consumption.

Not a god mix.

Would not want to be a property investor for any money at the moment.

 

[numbercruncher]

Not to sure how long she will last.

With the recent high price of commodities worldwide we have massive new coal and ion ore fields opening up in South Africa, Indonesia and South America.

China now hitting the wall due to overproduction against falling consumption.

Not a god mix.

Would not want to be a property investor for any money at the moment.

Explod being the wise and experienced man he is , is offering you all some very sound advice

 

[numbercruncher]

And here is some advice for and readers who may have been suckered in by the money Dealers ....

STRUGGLING homeowners stung by improper lending practices during the property boom are being let down by complaints resolution processes funded by lenders themselves, consumer advocates have claimed.

Banking and Finance Consumers Association president Denise Brailey said aggrieved borrowers had in many cases had hundreds of thousands wiped from their mortgages by the nation's two main lending arbitrators. However, the courts had regularly delivered yet more favourable outcomes for those victims who could afford to use them.

"The problem for borrowers, and obviously those on the verge of bankruptcy, is they simply can't afford to run these hugely expensive court cases against the major lenders," Ms Brailey said.

"On the other hand, industry mediators like the Financial Ombudsman Service, which are funded by lenders, are free."

Another concern was that lenders almost always pushed for confidentiality clauses to accompany settlements, which made comparisons extremely difficult.

The Australian has revealed thousands of struggling homeowners could walk away from some or all of their mortgages, as a series of court cases have found in favour of borrowers who have been hit by unscrupulous lending practices.

http://www.theaustralian.com.au/news/nation/subprime-borrowers-let-down-by-system/story-e6frg6nf-1226383963085

 

[young-gun]

And here is some advice for and readers who may have been suckered in by the money Dealers ....







http://www.theaustralian.com.au/news/nation/subprime-borrowers-let-down-by-system/story-e6frg6nf-1226383963085

Haha, it was only a few weeks ago a real life permabull was arguing her pint against a crash. Her main being that Australians are more likely to hang in there and pay their loans even if they are underwater. She thought this would soften the correction and wouldnt cause similar crashes to EVERYWHERE ELSEAnd here you are presenting numerous articles that Australians are doing all they can to get out. Another bull bites the dust. We are no different bulls.

 

[Mr Z]

5.5% of lo docs in default. And lo docs are 8-10% of all mortgages. So that's .55% of all mortgages. Plus full docs- 1.26% default, 90% of all mortgages. 1.134%. Total 1.6834% of all mortgages together.
Me so scared

and so you should be...



Follow the blue line... as we approach 0 it becomes impossible to maintain price growth.





In the end it is THAT simple.

 

[numbercruncher]

Too right ....

I have been very bearish on my local market for a long time - all these pesky interstaters that pushed prices well beyond any fundamental then some ....

Almost 12 per cent of all Queensland homes are in negative equity, 9.2 per cent of homes in Brisbane are valued below their purchase price, and the state’s northern and coastal regions also topped the list.*

“Far North Queensland, and the Gold and Sunshine Coasts have the highest instances of negative equity at 22.6%, 19.4% and 15.3% respectively,” the report said.*

Thats got to hurt property specualtors ? Especially considering how many people were warning you ?

Just got to hope your money dealer practiced bad lending standards so you may sue The bejeezers out of them

I just hate to think that these dodgy realestate agents armed with a two training course rendering them experts are getting away scott free ....

 

[im sparticus]

http://www.perthnow.com.au/business/negative-equity-starting-to-bite-in-wa/story-e6frg2ru-1226305392616

And that doesnt include the enormous amounts of boofheads who unlocked their " equity mate " to live far beyond their capabilities .....

Not to mention all the retirees that didnt plan for retirement using the home as a ATM week n week out now and going forward ....

The fat lady has Begun to sing my wee permabull friends ....

Not to mension this is an even smaller percentage of the overall property market... just what percentage of houses have a morgage attached and what percentage of this is above 80%lvr , you guys are really grabbing at straws but with such a huge emotional investment attachment to your position (actually thats all you have invested in your positione) who can blame you!

You bears really need to lower your emotional lvr, get a decent nights sleep, and stop it from it from clouding your judgement.

 

[numbercruncher]

Not to mension this is an even smaller percentage of the overall property market... just what percentage of houses have a morgage attached and what percentage of this is above 80%lvr , you guys are really grabbing at straws but with such a huge emotional investment attachment to your position (actually thats all you have invested in your positione) who can blame you!

You bears really need to lower your emotional lvr, get a decent nights sleep, and stop it from it from clouding your judgement.

Got any hard evidence on the direction of Oz realestate yet or just this dismissive realestate agent type suff ?

 

[im sparticus]

Got any hard evidence on the direction of Oz realestate yet or just this dismissive realestate agent type suff ?

Youve already posted up all the eveidence contrary to your "mega crash". Thanks as everyone can see most asset classes are suffering varying degrees of price deflation with property so far fairing far better than most especially when lookinh at total returns.

 

[numbercruncher]

Youve already posted up all the eveidence contrary to your "mega crash". Thanks as everyone can see most asset classes are suffering varying degrees of price deflation with property so far fairing far better than most especially when lookinh at total returns.

Haha delusional - when your selling houses to people do they believe those kinds of unqualified comments ?

 

[numbercruncher]

and so you should be...

View attachment 47344

Follow the blue line... as we approach 0 it becomes impossible to maintain price growth.





In the end it is THAT simple.

I like that blue line - very funky !

 

[Starcraftmazter]

Not to mension this is an even smaller percentage of the overall property market... just what percentage of houses have a morgage attached and what percentage of this is above 80%lvr , you guys are really grabbing at straws but with such a huge emotional investment attachment to your position (actually thats all you have invested in your positione) who can blame you!

Huh? I think you have things backwards - emotional investors are the ones who leveraged to buy houses, not people who analyse the property market.

As for the quantity, it only needs to be as big as a significant proportion to the stock on market. Most houses and units do not get sold in a given year and have no impact on market pricing - only the ones that are sold (especially force sold) matter.

These are basic characteristics of the housing market...

You bears really need to lower your emotional lvr, get a decent nights sleep, and stop it from it from clouding your judgement.

Such hypocrisy.

 

[Ves]

Do you post on Somersoft or Property Investing.com forums at all SCM?

 

[moXJO]

and so you should be...

View attachment 47344

Follow the blue line... as we approach 0 it becomes impossible to maintain price growth.





In the end it is THAT simple.

Nothing a few more million migrants and a lack of building won't fix.
*yawn*
I'll tell you all when I start sweating.

 

[numbercruncher]

Nothing a few more million migrants and a lack of building won't fix.
*yawn*
I'll tell you all when I start sweating.

Haha what lack of building ? That was one on the biggest scams the industry ever pulled -

This week's RP Data national house price index is down 1.7 per cent, with Melbourne especially on the cusp of a crisis with an oversupply of houses and a slow economy.

http://www.abc.net.au/news/2012-05-17/house-prices-continue-to-fall/4018416?section=business

They built it and the migrants didnt come , and if they did come there was no jobs , unless of course they had a 457 and the desire to be paid alot less :bad: