House prices to keep rising for years

[kincella]

a prudent buyer like those teenage kids on tv this week that bought a house....he had budgeted for an 8% interest rate some time in the future...and they had saved 5000 towards the deposit

you all seem fixtated on going back to the horse and cart days....
but what if stacks of people bother to fix the new low rates....and fix them for 5, 10 15 years.....
your arguments are fine if everything falls in a heap for a long time....
and if it recovers within a year.....the alternative is ????
a subdued recovery....kids not been given 5 credit cards to rack up with no intention of paying back....everyone acts a little more conservativley.....

get rid of some of those cowboys.....
its the recession you had to have....all will be forgotten within 3 years...

 

[kincella]

some of us will like this news and some will not...so there is a bit here for everyone.......now before you get too excited that the fed govt will do anything about the shortage.......there was a national housing review commissioned....oh about 8 years ago...could be wrong on the date...was about the time the GST was introduced....I put in my 2 cents worth at the time...............and guess what has happend since then..nothing zilch, zit..

in fact the state govts have made the situation even worse...and local councils...well I had a problem with them....could the birds still fly in a straight line past my house ????? and they held it up for about 4 months....

but here it is....an extract

There's plenty of land to build upon but that's unlikely to stop housing shortfalls and prices from skyrocketing in the next 20 years, a new report shows.

In a report commissioned by the federal government, the National Housing Supply Council has confirmed there is plenty of land available for development on the fringes of Australia's major cities.

But without significant government and industry intervention the nation's housing crisis could increase tenfold by 2028, the report said.

In 2008, the housing shortfall was about 85,000 dwellings.

In three years' time the number was expected to reach 203,000 and hit 431,000 by 2028.

http://news.theage.com.au/breaking-...rtfall-prices-to-skyrocket-20090311-8uz1.html

 

[italiandragon]

Hello, I strongly advice you all to spare 30 minutes to read carefully a report, it is free but I can`t post links yet as I am a new member so you have to google it, google the following:

"5th Annual Demographia International Housing Affordability Survey"

just make sure to Google the web and not just pages from Australia.

Anyone with a brain would understand how seriously inflated Australian and NZ property prices are and WHAT could happen here and in NZ in the coming months both in the Commercial and residential property market.

 

[kincella]

italian dragon....and I suggest anyone who reads that rubbish...should read this from the business spectator to set them straight.
and that company uses house price to income ratios....that have been denounced by every one else..
this bits a joke too
extract......

No-one will draw attention to the fact that in your ranking of some of the world’s 32 most unaffordable metropolitan markets you have listed, alongside the obvious culprits, Bundaberg, Newcastle, Wollongong, Cairns and Hobart. In fact, according to Demographia, housing in Bundaberg is less affordable than New York and London

http://www.businessspectator.com.au/bs.nsf/Article/Demographia-Dogma-$pd20090129-NQTPP?OpenDocument&src=mp

 

[Glen48]

The benefits of believing in your own product:
Vito Simone, the prominent realtor and property investor and President of the Greater Baltimore Board of Realtors, filed a chapter 7 bankruptcy petition with his wife, Gail. The couple claim assets of $468,900 and debts of more than $3.5 million.

 

[sinner]

Mortgagee sales in NZ are already on a sharp incline in Feb with worse expected.

 

[knocker]

Mortgagee sales in NZ are already on a sharp incline in Feb with worse expected.

Please don't tell robots beej et al. You will spoil there drug influenced euphoria roflmho

 

[nat]

hi there ,i live in bundaberg and i find it hard to believe it is more unaffordable then london or new york ,there is so many houses here from 170000 to 250000, and cheap to live here .beaches 10 min away ,can surf, swim fish snorkel . 3 river systems can water ski ,fish ,whatever salt or fresh .Flat as except for hummock, robots could ride round all day . How long it stays affordable who knows as many southerners starting to discover it ,but looking what other people are paying for there houses in other parts of australia i dont know how that article could single out bundaberg ,Nathan

 

[knocker]

hi there ,i live in bundaberg and i find it hard to believe it is more unaffordable then london or new york ,there is so many houses here from 170000 to 250000, and cheap to live here .beaches 10 min away ,can surf, swim fish snorkel . 3 river systems can water ski ,fish ,whatever salt or fresh .Flat as except for hummock, robots could ride round all day . How long it stays affordable who knows as many southerners starting to discover it ,but looking what other people are paying for there houses in other parts of australia i dont know how that article could single out bundaberg ,Nathan

lol Bundaberg? You have to be joking. It's hardly the hub of society, and scant work. Better off going to cairns or townsville. Or better still just up and go OS. Lovely day here in the Algarve. Soaking up the climate the scenery and the good life. cheers

 

[Beej]

lol Bundaberg? You have to be joking. It's hardly the hub of society, and scant work. Better off going to cairns or townsville. Or better still just up and go OS. Lovely day here in the Algarve. Soaking up the climate the scenery and the good life. cheers

So what are you doing hanging out in internet cafes and spending your time surfing ASF and making typical idiot posts then?? In all the years I have spent travelling the world that's the LAST thing I would have been caught doing!

PS: Thought you had sworn off this thread anyway?

Beej

 

[grace]

lol Bundaberg? You have to be joking. It's hardly the hub of society,

Just be careful here. "There's no place like home". Remember The Wizard of Oz.

 

[Trevor_S]

lol Bundaberg? You have to be joking. It's hardly the hub of society, and scant work.

I have to disagree with this, I have lived / worked alot of small and remote places, I have never lived in a bad place, everywhere has something interesting about it. Hell I lived and worked south/west of Cloncurry for quite a few years and enjoyed the experience no end. I have been to Bundy, it seem'd okay to me. I do remember reading somewhere it had the "perfect" climate, whatever that means to different people (not to hot in summer and not to cold in winter apparently.)

Of course there are a few places in Aus. I would never live: Brisbane, Sydney (and the greater Sydney metropolitan area) and the Gold Coast ... but just about anywhere else is fine

 

[Trevor_S]

I thought this interesting

http://www.berkshirehathaway.com/letters/2008ltr.pdf

Home ownership is a wonderful thing. My family and I have enjoyed my present home for 50 years, with more to come. But enjoyment and utility should be the primary motives for purchase, not profit or refi possibilities. And the home purchased ought to fit the income of the purchaser.

The present housing debacle should teach home buyers, lenders, brokers and government some simple lessons that will ensure stability in the future. Home purchases should involve an honest-to-God down payment of at least 10% and monthly payments that can be comfortably handled by the borrower’s income. That income should be carefully verified.

Putting people into homes, though a desirable goal, shouldn’t be our country’s primary objective. Keeping them in their homes should be the ambition.

I guess I echo WB's sentiments here in Aus. I wonder if the Governments continual propping up of the Property Industry will continue for much longer or if we will return to a more realistic view of residential property ?

 

[nat]

lol Bundaberg? You have to be joking. It's hardly the hub of society, and scant work. Better off going to cairns or townsville. Or better still just up and go OS. Lovely day here in the Algarve. Soaking up the climate the scenery and the good life. cheers

Ha ha ,i knew this would invoke a post like this, each to their own ,depends what one wants out of life ,i know im never bored living here,not enough hours in the day .Ive been to townsville and cairns what a joke ,quickly racing from air con to aircon ,mud flats ,stingers, crocidiles ,,, but if being in the hub of society is what u want out of life go for it, guess one can find good or bad in any place . Nathan

 

[nunthewiser]

lol hows it goin nun? Still stuck in that sh!thole? Oh well.

Nothing wrong with melbourne

GREAT place to visit . the place has a vibe like no other city.. actually get envious everytime im there ........ BUT did live there for a number of years and left and happy JUST to visit these days

seriously tho . anyone know what the go is with all these apartment blocks getting built around southbank etc. presold ? or will they be offered up for sale on completion ....... wouldnt mind a lil city sin pad if one can get it cheap enough

 

[nunthewiser]

So what are you doing hanging out in internet cafes and spending your time surfing ASF and making typical idiot posts then?? In all the years I have spent travelling the world that's the LAST thing I would have been caught doing!

PS: Thought you had sworn off this thread anyway?

Beej

hahahahaha

WELL DONE BEEJ

spot on

 

[Bill M]

wouldnt mind a lil city sin pad if one can get it cheap enough

You sicko, and I thought you were an honest bloke:whip

 

[nunthewiser]

You sicko, and I thought you were an honest bloke:whip

sicko ?

and yes would honestly like one I i could get it cheap enough

 

[robots]

hello,

yes Nun, great joint melbourne, the apartments are just new towers being offered by the likes of Central Equity, Becton and other mostly private developers

i would be more inclined to get an exisiting 1-bed or 2-bed in sth yarra, richmond, prahran, east melb

when i pushie past that area around 5-6.30pm there is tonnes of people living there

just like to congratulate Australians for taking the tuff stance on firearms here in this fine country, leaders of the world

thankyou
robots

 

[knocker]

So what are you doing hanging out in internet cafes and spending your time surfing ASF and making typical idiot posts then?? In all the years I have spent travelling the world that's the LAST thing I would have been caught doing!

PS: Thought you had sworn off this thread anyway?

Beej

Stirred up a hornets nest have I? lol Just proving what a bunch of losers you are harping on about "cosmopolitan melbourne" lol

P.S yes I am hanging out AT MY OWN "INTERNET" CAFE LOL