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The state of the economy at the street level

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Which will push house prices lower still, isn't that what everyone wants?
Those that lose everything are just collateral damage, as long as those who haven't saved can get into the market all is good.
The ones who got burnt have saved once, they can obviously do it again, the new better Australia. Lol
It will be interesting when those that do save stop, the system will really fall over.
Then I guess that will be the time, to raid the super.
 
And do not forget the assets, how on hell hel these people sitting on millions ,house or bank accounts, not contribute by not earning income, nasty rich basrards, iets do a home tax and a financial tax
 
people live quite comfortably on Newstart Allowance (or DSP). typically 3-5 people in a house in the private market

not in Capital cities though, mostly regional towns 60-90mins away

also "community services" like Uniting, Salvos etc are vary active in buying properties/managing properties and moving people to these regions on behalf of the TAXPAYER
 
Another analysis on where house prices could go in 2019 and why.

18 reasons why property prices will fall further
By Su-Lin Tan
Updated Feb 26, 2019 — 10.33pm, first published at 2.11pm
The housing market has taken a turn for the worse moving deeper into the decline of a debt-financed asset bubble, possibly driving house prices to fall by as much as 25 per cent in 2019 on nominal terms, according to housing bear and analyst LF Economics.

The group made up of Lindsay David and Philip Soos, who have authored books on boom and bust in housing markets, lists 18 factors that are putting extreme pressure on the Sydney and Melbourne markets.

Their baseline prediction is a 15 per cent to 20 per cent fall in prices just in 2019 although 25 per cent is possible.
https://www.afr.com/real-estate/18-reasons-why-property-prices-will-fall-further-20190225-h1bpfc
 
Toyota Lexcen said:
people live quite comfortably on Newstart Allowance (or DSP). typically 3-5 people in a house in the private market
Click to expand...

Comfortably? Really? Newstart is $550 per fortnight for a Single person with no dependants. After your share of Rent and Utilities....what's left?
 
Not much, but what do they need? weekly costs may be 250$, rent, food & utilities.

A girlfriend moves in, have a child, they are actually very resourceful people, very sneaky people and they survive well.

These individuals do a bit of cash work, mow lawns, might have a brother or father who needs some cash work done, do a shift at fish n chip shop, 1 day a week.

Victoria towns like Bendigo & Ballarat are increasing population as more people move into the one house. Their entertainment is provided by the council with free events.
 

"These people ?" What about those with families ? Those who have bought a house or a car or have any sort of financial commitments that were dependent on keeping a reasonably paying job ?

What happens when anything goes wrong in the lives of people living on the smell of an oily rage ?
This picture of the unemployed living the life of Riley on $225 a week (That is Newstart) is not accurate.
https://www.businessinsider.com.au/long-term-unemployment-stories-2012-2?r=US&IR=T
 
qldfrog said:
Yes we are all getting poorer, just more of us
Click to expand...
Inflation will be the ultimate outcome I expect.

Soaring house prices since about the year 2000 and more recently soaring costs for essentials such as, in particular, utilities.

Wages will catch up at some point or the debts will be written off in practice by the process of inflation. Probably a combination of both.

Invest accordingly.
 
Sorry but it is accurate. They move to suburbs /towns where unemployment is high.

There a place called Maryborough VIC, did have the highest population of single mothers in Aus.

They get housing, welfare in what ever form its called, spouse/partners payment (gov or partner) the kids get tennis lessons paid for, footy club memberships and gear paid for.

They get up in the morning and have a cuppa tea and enjoy the day at home or down the street. They pay $3 for packet of Panadiene everyone else pay $16.99.

The windows need painting so maintenance man comes around and does some work, This is costing 158Billion a year.

An umeployed partner moves in so they can split the bills and costs that they do have.
 

We can both be right TL. Yep Maryborough exists. Yes it is one place single mothers can afford to live in. But don't pretend this is representative of the whole welfare bill. And don't believe that these single mothers are somehow getting it easy. When the kids are 8 they go onto New start. That's when the fun starts and people try to live on a pittance.

And the rest of the unemployed? As I mentioned they are trying to exist on oily rags.

https://www.csmc.org.au/information-referrals/centrelink-and-government-payments/
 
I personally believe we should have a commin basic minimum safety net, very basic and small by design,liveable but not much more, and the same for all.unemployed, pension,disability etc with low access criteria but all input taxable.
pension should be for all but simplify the system,
The more complex, the more rort, the more costs to maintain
We end up with massive administration..but that is maybe a policy, creating more useless jobs
 
Outside the Parliament dining and reception rooms on Thursday night Maurie (he's made dresses for Shirley Bassey) was preparing his double swag, same as he has done for the last six-and-a-half years.

"I've got used to being here which may sound lazy at the age of 72 but right now it suits me. Nobody starves in this city by the way, we do a lot better than people with mortgages,'' he said.

"Eventually I will go and stay with my cousin, he's only at Neutral Bay, so I'm covered. I don't really need the housing - but some people do."

from an article on SMH today, we do a lot better than people with mortgages!
 
More down news on the economy. Makes one wonder about job security for many people and the impact a sharp increase in unemployment will have on housing and the rest of the economy.


Retailers still in a world of pain as sales flatline, while construction downturn becomes more entrenched
By business reporter Stephen Letts
Updated 16 minutes ago



Australia's retailers have started the year where they ended it — in a world of pain.

Retail sales edged up just 0.1 per cent in January, a much weaker result than expected.

Market economists had expected a rise of 0.4 per cent, if for no other reason than January's figures were coming off a very poor result in December, where sales fell by 0.4 per cent.

The consumer sector underpins around 60 per cent of the Australian economy and its weakness in recent months was a significant contributor to poor fourth quarter GDP figures.

There was also more bad news in another big chunk of the economy, construction, where activity continued to fall in February.

The Ai Group's performance of construction index showed the industry-wide downturn was becoming more entrenched with all four key sectors — apartment, house, commercial and engineering — continuing to contact.

It is the fourth successive month activity has contracted.
https://www.abc.net.au/news/2019-03-07/retail-sales-and-trade-balance-january-2019/10878424


Construction underpins another 15 per cent of the economy and accounts for around 9 per cent of total employment.
 
Anything involving sheds, carports, gates, fences etc must be outright booming at least in SA.

Was very hard to get anyone to even reply to an email or answer the phone for some work I wanted done.

OK then, I'll do it myself....
 
Smurf1976 said:
Anything involving sheds, carports, gates, fences etc must be outright booming at least in SA.

Was very hard to get anyone to even reply to an email or answer the phone for some work I wanted done.

OK then, I'll do it myself....
Click to expand...

Haha thats the thing about being a tradesman (electrical especially) you can pretty much do any thing short of brain surgery
 
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