True. However we have had a lot of money flowing through the system from the mining expansions and GFC stimulus. This is starting to dry up.
Unfortunately redundancy announcements don't seem to reflect anything. We had a period of 6 months there not long ago where you couldn't take 10 steps without seeing job cuts in the paper, on the news, or on the net.
With seemingly tens of thousands getting chopped, the unemployment rate remained steady. As I'm sure you're aware job numbers aren't worth the paper they are written on, although perhaps slightly more credible than the US.
Unemployment may be the catalyst to trigger the bust, but I think there is also a large number of other contributing factors ie loose credit, a love of RE investing, speculation etc. 2013 could very well be the year, but I'm not holding my breath, I thought 2012 was the year
Prices stagnant to down....at best.jmo
True. However we have had a lot of money flowing through the system from the mining expansions and GFC stimulus. This is starting to dry up.
nothing like a bit of government meddling to throw a spanner in the works. FHOG didnt help either. After speaking to a couple of mates in the mines they believe thigns are slowing, but not much. Last time I saw iron ore prices they were back up substantially(couple of weeks ago that was). Unless china goes belly up, there will still be a reasonable stream of cash flowing from that sector I would think, agree that it does appear to be slowing though(or was).
Has anyone got any links to articles on how long it takes for stimulus to run through the economy? or is it one of those how long is a piece of string gigs.
That's basically true and it should be removed, but like I have emphasised in other property tax/transfer discussions, it should be removed as part of a broader package of property tax reform.The FHOG should be renamed to the Vendor grant since all it did was increase the sale price of most properties
That's basically true and it should be removed, but like I have emphasised in other property tax/transfer discussions, it should be removed as part of a broader package of property tax reform.
The FHOG should be renamed to the Vendor grant since all it did was increase the sale price of most properties
Why will they be selling en masse over the next few decades?50% of properties are owned by the boomers. Considering they will be selling en mass over the next 20-30 years that means a considerable amount of supply ready to flood the market should prices start to rise.
Why will they be selling en masse over the next few decades?
Why will they be selling en masse over the next few decades?
And what about the number of immigrants who will also be seeking housing?
The boomers are around 50% of our working population and around 25% of our total population, immigrants are well outnumbered!
Ok.
If they sell off their family home, they still have to live somewhere? Pressure on rental vacancy rates?
Why will they be selling en masse over the next few decades?
* Depending on debt levels the cash flow is poor
* Lumpy asset - can't sell 10%, unlike shares which can be sold in 10-20K lots as required
* Downsizing to fund retirement
* Selling to move into assisted care
* Falling off their perch and family selling
Why will they be selling en masse over the next few decades?
A whopping 86% of Australia's 5.5 million baby boomers are, in varying degrees, financially under-prepared for retirement, according to research release by industry super heavyweight REST Industry Super today.
Dubbed The Journey Begins, the REST-commissioned white paper - based on the attitudes of 1,200 Australians approaching retirement - reveals a massive disconnect between what baby boomers expect their retirement to be like, and what reality has in store.
To Damian Hill REST CEO, the biggest surprise within the results is the proportion of baby boomers - around half - who don't expect to give up anything in retirement, especially given their expected reliance on the age pension.
The survey also reveals a growing reliance on the family home to help close the retirement savings gap, with almost half planning to move house once retired, and more than a quarter expecting to downsize.
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