60 Minutes Australia House Bubble POP Rent Vs Buy

[82snowball]

That young couple that think there smart for renting are fools,

Renting for 50years is 10 times higher in cost than owning, the rent you will pay goes up every year with inflation, as you pay off your home the interest bill gets less each year.

Plus the owner gets to sell the house one day and sit on a lump sum.

[2305toby]

you want a big house, an acre block, big screen tv.....live within your means you fools

[2305toby]

you did it to yourselves. Baby boomers have caused this issue

[avocate201]

Sadly, this is exactly what happened in the U.S. in 2008. If it weren't for the Australian accents, you would think these families were in Nevada or California.

[charlie000111]

does anyone know what will happen in 6months or a year from now with sydneys property , 

[hugeboofhead]

@charlie000111 looking at current stock on market, clearance rates etc, most likely it will be down about 5% in next 12 months.

[twinspur]

@hugeboofhead Probly more like 20% employment is a massive factor with income rates.These are nosediving because the labor gov has murdered this countrys confidence,financial position and industry.

[tvimportantlife]

chris gray is disgusting pig.

[tvimportantlife]

property analyst lowlife comparing australia with Singapore/Hongkong which are like .01%. thanks to the media fcking up the first home buyers. Greed and deceit is rife. I am very worried person where this country is heading. the entire continent with a 20 million population and 1 person per square kilometer population density. unlucky country.

[MrAntiFarLeft]

just bring on the almighty crash so the younger generation can have a life.

If high prices continue then couples will not be able to afford children.

the lucky country ?....BULLSHIT.

[BiggerThinking1]

@MrAntiFarLefthang on - that mans they get $150,ooo bonus on the people just 3 years older who bought in at the peak - who also cant afford kids!

[martyshire]

I feel sorry for people in that situation but hopefully the silver lining is people who hear these stories will start to think twice before taking on huge amounts of debt to buy property that will not necessarily increase in value.

I almost bought last year with a 400k loan but am so glad I saw the light and started renting. With the savings and returns on investments I will almost certainly end up owning my home outright much sooner. If prices continue to drop, that will be even sooner still.

[damoz89]

Renting is a good strategy if you have the discipline to put aside the money saved into another appropriate vehicle for the future. Otherwise you'll go into retirement shit poor and no better off than Mr and Mrs mortgage.

[jetevovi]

living off the backs of others house infester parasites! haha!

[jetevovi]

tough shit wannabe millionaires, your pushing prices up for everyone

[Nexusfast123]

Tough...sheeple. Debt servitude to the banks. Deliberate strategy to trap everyone in debt so the banks can feed of the commissions and fees. Banks are a pox on society.

[SuperApparition]

I agree. Bail out the Aussie battlers who have massive mortgages!. In fact, charge renters more tax than everyone - why should savers prosper while the rest of us have to pay interest on a huge mortgage?

[scatteredmunky]

@SuperApparition govt should stop first home buyers grant immediately....regulate banks and force them to ask for a 20% deposit...this will drop prices to more affordable levels..people will only need to take out smaller mortgages because..we are in a property bubble in australia that is bursting at the seams...if the govt bails out mortgage holders under stress..this will make the situation far worse causing massive hyper inflation..because govt has to borrow the money.

[BullionLimitedotcom]

WAKE UP AUSTRALIA - THIS IS INEVITABLE..

SOME 60% - 70% OF HOME PURCHASERS IN THE LAST 10YRS NEED TO RE-THINK THERE SITUATION - NOW!

[reddead2067]

The government should bail them out with our tax payer funded dollars.

[Tomta20012]

Sry but I HATE gamblers!