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House prices to keep rising for years

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trevour....sounds like the golfer was already in panic mode, ready to sell out...but theres a bit there that sounds ridiculous....within 4 days he had the house and unit ready for sale...
and the idea that they will rent for 18 months and then pick up another bigger better house for a discount of 300,000.....I know of people who have done similar.....and now they are so far out of the market they will never get back in...
see my post today headed 'mortgages and the middle class'... 63% of the middleclass do not have a mortgage...and the others its less than 100k's
so good luck
there will be margin calls, business loans and other reasons.... to sell the family home when they get into a mess.....but I dont see an all out assault on the million dollar homes...only 5% of the total house sales in that price range
 
was it 8 blind men and an elephant...and each saw it differently....
I am the contrarian.... those little pearls of wisdom are for the 'scaredy cat brigade'
and the answer to both of you.....I am not selling my IP's...I have another 30 years of life to fund....
I intend to buy more props....but the buying range is only up to 400k's...and in case you had not noticed....that is the hottest range in props right now...
plus the fact the banks are taking 6 weeks or more to approve a loan, so even if I found a prop...I could not sign unless I had the subject to finance clause in there...which most agents do not like

regarding positive thinking.....
it has nothing to do with house prices.....which go up anyway...and since records have been kept to prove it....I am happy with that together with my experience....
so if its not broke dont fix it
cheers
 
I know of people who have done similar.....and now they are so far out of the market they will never get back in...
Click to expand...

Exactly the case with one of our tennents.
When he first came to us he said he wanted to rent for 2 yrs before he built in the area.He owned/s an Auto Barn Business and is a AAA tennent.
That was 6 yrs ago.

I agree with those here who hold the view that times will never be better.
Interest rates at 50 yr lows
Houses now selling in some areas at a discount.
Grants

But hey the "Keep waiting" crew will do just that----scared to death.
 
I know a few bloggers on other sites....they called the top of the housing market in 2000....and up to 2002 and sold their homes....waiting to buy back in....now they cannot afford to....the market kept going higher

oh and that book was first published in 1953....they did a survey of 600 uni students..75% said they lacked self confidence....can we assume they are any different today...

wonder with all these jobless figures...how many have a plan B...?
notice the kids under 18 news today all losing their jobs.....
for the homebuyer groups that is not good news....those kids dont have a mortgage yet...so no homes lost there...and the middle class do not have much in mortgages
cheers
 
I would say about 50% of "middle class" couples I know would not be able to afford their mortgage on one wage.
63% of the middleclass do not have a mortgage...and the others its less than 100k's
Click to expand...
I find those percentages hard to believe, a lot people in the boom refinanced their house to buy IP and toys or upgraded to flasher houses.
Here on the Gold Coast the houses in the 400k range have already dropped at least 5% upper class suburbs even more. And this is with the fhg and rate reductions. I'm waiting until June to see what happens with the fhg before I buy anything.
 
Havent really followed this debate but thought you might be interested in knowing that at least one major bank when doing valuations for mortgages in the south eastern newcastle area is finding that their valuation is less than the price people are buying at therefore no loan granted my source is pretty reliable
 

hello,

what sort of property Pacestick?

special word out to Knocker, hope you enjoying the easter break

thankyou
robots
 
63% of the middleclass do not have a mortgage...and the others its less than 100k's
Click to expand...

Where do you people pluck this rubbish from ? This statement = 100pc of the " middle class " have mortgages less than 100k ??

Whats the financial measure of "middle class" anyways ?
 

Its taken a few years for prices to drift down in my area, so waiting is not always bad. Agree it does seem like a good time with interest rates so low.
 
its the valuers fault...the banks do not actually do the valuation....and the valuer worries about being sued....seen this before and had to fight them to get it right

happens more often in the regional areas...only one or two valuers in town...
couple of years ago I had a case of a ridiculous valuation...the valuer said he could only go by the sales in the area in the last 3 months.....hardly any sales in that period...about Sep 06...and the sales that had gone through were in virtually housing commission areas, were substantially inferior properties....explained that to the bank and they gave me the amount....

at one stage there was only one valuer in town....he did the same with my commercial prop....later found out he was spending a lot of time in court being sued for valuations from both sides of the fence..

years ago some banks sent their managers out to do a drive by valuation....but have not been aware of that going on myself
never had a problem with a valuation when buying a property...just problems when refinancing or building a new dwelling
 
numbercrucher...you always sound angry...why is that...
and the rubbish you refer to....well guess you could not be bothered to check out the source for youself...or read the article...it did not say 100% of middle class
middle class was stated as having disposable income of 70.000pa
but here is the link again
https://www.tai.org.au
 
Far out a disposable income of 70k is pretty high

Even at a 100k i dont think my disposable income comes even close to 50k I must be a low class citzen well will be soon.
 
 

hello,

yeah Numbercruncher, just relax man, take it easy

take the dog for a walk,

great day yesterday, Chapel St was pumping as usual Kincella

so much for the doom & gloom, another 6mths, 12mths,24mths will roll on

special word out to some old favorites: knocker, pepperoni, chops hope you all having a great easter

thankyou
robots
 
Robots, yesterday afternoon about 4.00 pm my little dog started acting really strange...followed me everywhere, shivering, tail down, looked quite sressed....I thought did she know we are going to have an earthquake or something ?...(dogs send messages to each other)
finally woke up it was the heavy haulage dump trucks with trailers going past every half an hour, probably sounded like thunder plus (she is not usually scard of the thunder)...and then buses with similar loud noises were running instead of the trams ????
the dump trucks working flat out on good friday....???? guess if I look I will find another empty block today...
the trucks were still at it at 9.00pm when I went to bed....
cheers
 
hello,

yes they fixing the tram tracks along Toorak rd down your way Kincella,

all the better for those ultilizing the Metlink system

you may have take dog down to KFC today for a treat

thankyou
robots
 
ok,
so I did not add the two together to figure it out.....whereabouts are they working on it ??
so it was probably same thing last year at easter....we had no access to toorak rd, could not take the car out...for about 4 days....I knew nothing until they blocked off the road....
yes I thought I may take her for a walk down the beach too...have a coffee at the kiosk if its not too cool

ps note Obama believes the recession will be finished by Sep 09....only 6 months to go....he is trying to talk it up
but we have been in recession since may 07
cheers
 
hello,

i think its between orrong and kooyong rd, toorak

thankyou
robots
 
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