But wil be a problem for all those FHB of the last few years thanks to this disfunctional govnuts approach to property/debt and the FHBG who will be faced with negative equity and being a slave to the banks for many many many years to come.
And then the negative sentiment that will run through society due to falling property prices and yes they are in decline and stocks levels are rising month on month.
I for one don't want to see peoples hopes and dreams dashed, but on the other hand I cannot support such high prices and the cost they impose on greater society. Now how was retail going.
Prices on the way down down prices are down.
Cheers
But a falling price will not increase the monthly cost for existing owners, they just keep making the same payments as the always have, it could also be a net plus, if it facilitates lower interest rates,
I know of one home victim who CBA foreclosed on who is no longer with us and he will be one of many as IR increase and house prices decrease and PM's increase each year.
We have had property crashes before, it is not a new thing, we have also had long periods of stagnation before,
People may be bummed if they find there property price has gone down, but if they enjoy living in there home what does it matter.
I'm still lost as to why credit should become cheaper if the economy starts sliding, the risk increases in loaning money. But then again, most people wish us to go down the same path of ridiculous low interest rates like most other countries and look how that is panning out.
Cheers
My point stands, property price decreasing does not effect the monthly mortgage payment.
People will just keep plugging away,
Yes there will be foreclusures, but not because property prices went down.
We have had property crashes before, it is not a new thing, we have also had long periods of stagnation before,
People may be bummed if they find there property price has gone down, but if they enjoy living in there home what does it matter.
For a year or so now smaller businesses and builders I know have been finding it increasingly difficult or unable to obtain funding for spec homes.
.
But a falling price will not increase the monthly cost for existing owners, they just keep making the same payments as the always have, it could also be a net plus, if it facilitates lower interest rates,
Highlighted by the incompetent Wayne Swann who "pressures" the banks into lowering interest rates for home owners, and therefore stifles the bank's ability to provide cheaper cost of lending to business...
It is the families with children to raise and put through school who in a year or two will be hit by the preverbial.
But wil be a problem for all those FHB of the last few years thanks to this disfunctional govnuts approach to property/debt and the FHBG who will be faced with negative equity and being a slave to the banks for many many many years to come.
And then the negative sentiment that will run through society due to falling property prices and yes they are in decline and stocks levels are rising month on month.
I for one don't want to see peoples hopes and dreams dashed, but on the other hand I cannot support such high prices and the cost they impose on greater society. Now how was retail going.
Prices on the way down down prices are down.
Cheers
Personally I hope they lose the lot and the kids go hungry. I don't think the government should help these people, infact I think they should actively take action that would result in rate raises.
Why ? These people stopped being families the minute the paid 350k for a 3 bedder on the urban fringe because of "capital gains" and became investors, who should suffer for their poor investments if the market dictates this is the case.
What these selfish evil people do not realise is that each dollar in capital gains means that some other family will be $1 worse off.
So tough to them - I hope they lose the lot.
My point stands, property price decreasing does not effect the monthly mortgage payment.
People will just keep plugging away,
Yes there will be foreclusures, but not because property prices went down.
We have had property crashes before, it is not a new thing, we have also had long periods of stagnation before,
People may be bummed if they find there property price has gone down, but if they enjoy living in there home what does it matter.
Personally I hope they lose the lot and the kids go hungry. I don't think the government should help these people, infact I think they should actively take action that would result in rate raises.
Why ? These people stopped being families the minute the paid 350k for a 3 bedder on the urban fringe because of "capital gains" and became investors, who should suffer for their poor investments if the market dictates this is the case.
What these selfish evil people do not realise is that each dollar in capital gains means that some other family will be $1 worse off.
So tough to them - I hope they lose the lot.
tyson, mortgage repayments may not change, but are you forgetting one of the driving forces(although not the trigger) behind prices continuing to fall is high unemployment? which also leads to employers being able to pay less and become more picky, which leaves people short.
you have used this argument before, on the chinese guy that bought a unit and 1 week later they were 30% off or something. the fact is people have not only bought a house as a home, they buy as an investment - or t least they believed it was. an investment that will later allow them to enhance their living standards, and path the way for their children to succeed, through use of equity.
cant help but notice your bullish tone is starting to turn ever so slightly towards property tyson
.Some people pay less on mortgage than others do on rent simply because they bought a few years earlier
That is not a just way to run a country because housing is a necessity
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