House prices to keep rising for years

[MrBurns]

how about an index fund or etf?

also, what about subsidance/concrete cancer etc? not all houses are as safe as houses!

What about paper cuts on your **** when you use the worhless script as toilet paper ?

 

[Early Bird]

What about paper cuts on your **** when you use the worhless script as toilet paper ?

you think the entore asx200 index will become worthless?

besides, i'm not really trying to advocate one or the other, just playing devils advocate.

i'm taking a balanced approach myself, but i do think its an interesting question as to which is ultimately more beneficial, the leveraging of property or the low cost/hassle of share investing...?

 

[Early Bird]

Property prices are high so rentals are high.

There's a shortage of properties to rent because you cant get a return on the prices being paid at the moment.

do you disagree that a property crash (a proper one!) would create more homelessness overall?

i think a supply side solution would be a better way to solve the issue of a lack of rental property, and if its people without jobs then this probably shdoulnt be left to the private sector anyway

 

[satanoperca]

do you disagree that a property crash (a proper one!) would create more homelessness overall?

Having houses at unaffordable levels for average Australians is not resulting in an increase in homelessness.

I agree adding to the supply side would reduce numbers but the government is more interested in keeping prices high to keep votes, not what is good for the country and its people in the long term.

 

[Early Bird]

Having houses at unaffordable levels for average Australians is not resulting in an increase in homelessness.

I agree adding to the supply side would reduce numbers but the government is more interested in keeping prices high to keep votes, not what is good for the country and its people in the long term.

i think any action that results in either boom or bust should be discouraged by government as it will enevitably have a human cost.

perhaps if the government introduced new housing but kept it outside of the private sector, it would not affect the value of voters houses, but at the same time would ease shortages for those unable to pay rent or a mortgage.

 

[Early Bird]

anyway, more importantly... i really need to know whether prices <500k are going to slide in my area in the near future or just keep going up... and every time i come in this thread I jsut end up more undecided!!!

so, anyone got any ideas as to whether the end of the FHB boost and possible increase in interest rates will have a negative impact on 2 bed units in lower northern beaches in sydney!!!???

i can't decide whether its best to take advantage of the extra cash myself, or wait for the drop and take advantage of that instead (albeit with less up front cash)

confused!!

 

[Glen48]

If you want to see how the crash is going look at "Onthehouse.com.au"
then pick a suburb and count the blue markers.

 

[gfresh]

For those that don't give a s??t, you never know which way the wind blows and your wealth could disappear and you find yourself on a park bench.

Unfortunately that is the sort of culture we have helped foster in Australia these days, unless it effects you directly, then who gives a **** right? It is disappointing sometimes..

Nobody really stands up these days on providing a proper solution to these problems. It's all worthless panels, empty rheortoric and cheap vote scoring. Remember the housing affordability fund, the housing deposit scheme, xxx thousand new homes, what a crock! Slowly disappearing without a trace.

i can't decide whether its best to take advantage of the extra cash myself, or wait for the drop and take advantage of that instead (albeit with less up front cash). Confused!!

Only you can decide that.. don't listen to too many others, more likely to confuse than make it clearer! With time and observation comes clarity. Took me 24 months or so to work out whether it was the time to buy... still don't know whether it was, but signs are good so far the area I bought and what is selling now. I had to make a decision though, structure things around that, and now running with it.

 

[Mofra]

I agree adding to the supply side would reduce numbers but the government is more interested in keeping prices high to keep votes, not what is good for the country and its people in the long term.

Votes only?

You don't think that perhaps State (not the Federal) governments are also contributing to the price with the costs associated with setting up new estates & their stinginess in releasing land? Plenty of money to be had in stamp duties.

Nah, I'm sure they all govern for the people :

 

[Beej]

If you want to see how the crash is going look at "Onthehouse.com.au"
then pick a suburb and count the blue markers.

Yep huge crash Glen48! In my suburb a whole 9 auctions currently scheduled (blue markers) out of an area with some 4,000 houses????? Maybe you just live a sh!thouse area for property values?

Cheers,

Beej

 

[satanoperca]

Have to agree with Beej, looking on Google RE, Port Melbourne, Vic, the last few weeks there has been an increase in volume but most has been sold within weeks. Average asking price has also increased significantly.

This would seem to be in tune with FHB's leaving the market and those that sold to them, upgrading to the next level.

The FHBG was effective in stimulating the lower end and some of that stimulation seems to be moving up the chain to $800K-1.2M in the area mentioned above.

Seeing prices return to 2007 levels after quite a dip in 2008.

 

[So_Cynical]

anyone got any ideas as to whether the end of the FHB boost and possible increase in interest rates will have a negative impact on 2 bed units in lower northern beaches in sydney!!!???

Ya have to ask your self just how much of an impact the FHB boost is having in
that market...not exactly the mortgage belt.

 

[kincella]

todays news, this is really scarey stuff......anyone still wonder why houses are in so much demand.....still waiting for that big break, when house prices will fall over ???...waiting for the fhb's grants to reduce, so you can find a b argain....I dont like your chances, and you will probably be waiting forever, if you have your sights set on the inner suburbs...of any city.....
go into the outer suburbs for that affordable place...there are plenty out there
population growth is out of control....frightening , considering our transport is choking...but its all about buying new voters, at the expense of the existing population.....
extract follows.................

Melbourne's population hits 4 million
TIM COLEBATCH AND KATE LAHEY
September 23, 2009
MELBOURNE'S population has reached 4 million and Australia's is surging towards 22 million, according to new figures that have sparked fresh debate about the impact of record migration.

The Bureau of Statistics says Australia's annual net migration soared in the first three months of this year to 278,000 - up from just 100,000 five years ago.

Annual population growth was estimated at 439,000, almost double the level of five years ago. When the bureau's conservative methodology is taken into account, real annual population growth could be closer to 500,000.

At that rate, the nation may be only days away from reaching 22 million people - and Melbourne has probably passed 4 million already.

http://www.theage.com.au/national/melbournes-population-hits-4-million-20090922-g0j7.html

 

[MrBurns]

todays news, this is really scarey stuff......anyone still wonder why houses are in so much demand.....still waiting for that big break, when house prices will fall over ???...waiting for the fhb's grants to reduce, so you can find a b argain....I dont like your chances, and you will probably be waiting forever, if you have your sights set on the inner suburbs...of any city.....
go into the outer suburbs for that affordable place...there are plenty out there
population growth is out of control....frightening , considering our transport is choking...but its all about buying new voters, at the expense of the existing population.....
extract follows.................

Melbourne's population hits 4 million
TIM COLEBATCH AND KATE LAHEY
September 23, 2009
MELBOURNE'S population has reached 4 million and Australia's is surging towards 22 million, according to new figures that have sparked fresh debate about the impact of record migration.

The Bureau of Statistics says Australia's annual net migration soared in the first three months of this year to 278,000 - up from just 100,000 five years ago.

Annual population growth was estimated at 439,000, almost double the level of five years ago. When the bureau's conservative methodology is taken into account, real annual population growth could be closer to 500,000.

At that rate, the nation may be only days away from reaching 22 million people - and Melbourne has probably passed 4 million already.

http://www.theage.com.au/national/melbournes-population-hits-4-million-20090922-g0j7.html

I saw that, no wonder the roads are grid locked in Melbourne, there's no infrastructure changes to going on to cope with this increase, the State Govt is an impotent useless waste of space.

That is also one of the reasons for the house price surge, but I wonder what will happen in the next few months as the FHBG comes off and interest rates rise.

 

[Mofra]

I saw that, no wonder the roads are grid locked in Melbourne, there's no infrastructure changes to going on to cope with this increase, the State Govt is an impotent useless waste of space.

That is also one of the reasons for the house price surge, but I wonder what will happen in the next few months as the FHBG comes off and interest rates rise.

I think your post alludes to the answer itself. Stagnation (at least after inflation) in the mortgage belt suburbs with poorer infrastructure. Melbourne is already way bigger than LA with 1/3 of the population, which means public transport will always be poor because of our lack of population density.

 

[MrBurns]

I think your post alludes to the answer itself. Stagnation (at least after inflation) in the mortgage belt suburbs with poorer infrastructure. Melbourne is already way bigger than LA with 1/3 of the population, which means public transport will always be poor because of our lack of population density.

I'm finding it particularly nasty on the roads lately, seems to be peak hour all day, not like a year or 18 months ago.

 

[Dowdy]

I'm finding it particularly nasty on the roads lately, seems to be peak hour all day, not like a year or 18 months ago.

Well, they are doing alot of roadworks over the west gate so hopefully when they finish, it'll make traffic flow better and i know the trains will be better soon too since they're using the Honk Kong company

 

[kincella]

For those posters who like to follow Neil Jennmans advice.....
guess what, how does 10 million sound for making money out of a con...
extract...........
Desperate Property Spruiker Neil Jenman planning to "stitch up" more consumers in last ditch effort for a grab for cash and credibility.

Our investigations reveal that Property Spruiker Neil Jenman is close to releasing his latest book called "Stitched", which is apparently about 150 property spruikers that he thinks you should avoid.

As expected, Neil Jenman himself isn't featured in the book despite himself being renowned as one of the most unethical property spruikers in the industry for the last 15 years
http://www.consumer-warning.com/index2.htm

 

[satanoperca]

A spruiker outing other spruikers who are inturn outing him.

That funny.:

 

[wayneL]

For those posters who like to follow Neil Jennmans advice.....
guess what, how does 10 million sound for making money out of a con...
extract...........
Desperate Property Spruiker Neil Jenman planning to "stitch up" more consumers in last ditch effort for a grab for cash and credibility.

Our investigations reveal that Property Spruiker Neil Jenman is close to releasing his latest book called "Stitched", which is apparently about 150 property spruikers that he thinks you should avoid.

As expected, Neil Jenman himself isn't featured in the book despite himself being renowned as one of the most unethical property spruikers in the industry for the last 15 years
http://www.consumer-warning.com/index2.htm

But who is consumer-warning.com?

WHOIS data is private and there is not a hint of who is running that site. It could be Enzo Raimondo for all we know.

Credibility = ZERO!

There is a bit of yin and yang about Jenman, but the industry is better for having him in it IMO. That the conceited REIs hate him is a positive. Jenman stands behind his site with his own name.