i have been doing resurch now for more than 6 years on property in sydney, and it is over falued by 60% it has now come down 3.65% and will come down soon to over 36 percente
Australian property market on a 1 way road to hell, Don't believe the hype and prepare for the immenent crash otherwise you will be living in a caravan park living off the dole. OZ media is full of propoganda driving this Ponzi scheme.
Look at the US,UK,Europe,Dubai there is a trend and it's coming our way soon.
I would tend to agree with you except Australia is importing new immigrants like there is no tomorrow, unlike homegrown population growth, these people need housing the moment that get off the plane. Supply and demand kicks in. The amount of red tape, and now green tape with house construction delays and adds cost to new housing. They don't want affordable housing, it means we will all have to work harder to pay that mortgage.
FHOG was implemented only for the building industry and the big 4 banks.The government doesn't loose either, they get more capital gains taxes, stamp duties etc out of the inflated real estate market! FHOG It is inflationary and counterproductive. Home ownership is just a way of the big government and the big banks keeping the people subjugated.
The cost of a mortgage to the average income in Australia is totally unrealistic...I'd rather have a life than spend the next 40 years paying off an unaffordable mortgage on a shitty unrenovated house.
Lets see who all the baby boomers will sell their over inflated properties in years to come when they want equity out of their homes on mass.
The same thing happened in 2000. If a buyer has $20,000 deposit, and the bank will lend 90%, then they will bid up to $200,000 for what they believe they deserve for a house.
If you give them an extra $14,000 or $21,000 then this will be geared up to an additional $140,000 to $210,000 for the same volume of supply.
So a $200,000 house is now "worth" $340,000 to $410,000. Balls.
Take all distorting grants away and let the market set the price. Then we may all afford a house.
I cringe at the damage to peoples lives this will cause when the govt pulls the rug out from under them. Why in hell would you try to rush as many people as possible into historically high housing prices?... and the most vulnerable people as well.... this isn't just stupid...this is evil.
great video, this video should go viral so all the people my age can wake up before its too late, most only listen to their parents who have no clue whats happening..
Australian huose prices are just ridiculous. Government is setting setting time bombs under each of the FHOG homes, espeically those in outer suburban developments. Also, the amount of crap on the TV that underpins our absurd facination with false wealth is what astounds me - renovation shows etc. "add value to your home", "buy now and beat the rent trap"... cue video of young couple hugging on the porch of their new home, sharing champgane etc... Why are we so stupid in this country??
I ask myself the same question, I feel rather than stupid, Australians are more apathetic, we don't take enough interest in politics or social issues. Many people vote without given it any real thought.
Lovely video. It is indeed all bullshit. Here's the truth. And you don't need to be an economist or mathematician to understand the truth about housing affordability.
In 1998 a house (near mine) in the Melburnian suburb of Yarraville sold for $112,000. It is now being auctioned for between $580,000 and $620,000. You don't need your thoughts clouded by talk of interest rates (which are going (way) up) or grants or REIV talk or anything. Just the figures. Just the prices. The downturn is coming.
i have been doing resurch now for more than 6 years on property in sydney, and it is over falued by 60% it has now come down 3.65% and will come down soon to over 36 percente
charlie000111 8 months ago
Australian property market on a 1 way road to hell, Don't believe the hype and prepare for the immenent crash otherwise you will be living in a caravan park living off the dole. OZ media is full of propoganda driving this Ponzi scheme.
Look at the US,UK,Europe,Dubai there is a trend and it's coming our way soon.
cityslickeroz 2 years ago 6
I would tend to agree with you except Australia is importing new immigrants like there is no tomorrow, unlike homegrown population growth, these people need housing the moment that get off the plane. Supply and demand kicks in. The amount of red tape, and now green tape with house construction delays and adds cost to new housing. They don't want affordable housing, it means we will all have to work harder to pay that mortgage.
pauloz386 2 years ago
Now the FHBG is over, I think the fun is only about to begin.
JollyMunkie 2 years ago
FHOG was implemented only for the building industry and the big 4 banks.The government doesn't loose either, they get more capital gains taxes, stamp duties etc out of the inflated real estate market! FHOG It is inflationary and counterproductive. Home ownership is just a way of the big government and the big banks keeping the people subjugated.
pauloz386 2 years ago
The cost of a mortgage to the average income in Australia is totally unrealistic...I'd rather have a life than spend the next 40 years paying off an unaffordable mortgage on a shitty unrenovated house.
Lets see who all the baby boomers will sell their over inflated properties in years to come when they want equity out of their homes on mass.
seniorsdiscounts 2 years ago
Love it.
The same thing happened in 2000. If a buyer has $20,000 deposit, and the bank will lend 90%, then they will bid up to $200,000 for what they believe they deserve for a house.
If you give them an extra $14,000 or $21,000 then this will be geared up to an additional $140,000 to $210,000 for the same volume of supply.
So a $200,000 house is now "worth" $340,000 to $410,000. Balls.
Take all distorting grants away and let the market set the price. Then we may all afford a house.
augmenconsulting 2 years ago
I cringe at the damage to peoples lives this will cause when the govt pulls the rug out from under them. Why in hell would you try to rush as many people as possible into historically high housing prices?... and the most vulnerable people as well.... this isn't just stupid...this is evil.
hairymulletjr 2 years ago
good music
mrbeanchannel 2 years ago
great video, this video should go viral so all the people my age can wake up before its too late, most only listen to their parents who have no clue whats happening..
ancientsong 2 years ago
Australian huose prices are just ridiculous. Government is setting setting time bombs under each of the FHOG homes, espeically those in outer suburban developments. Also, the amount of crap on the TV that underpins our absurd facination with false wealth is what astounds me - renovation shows etc. "add value to your home", "buy now and beat the rent trap"... cue video of young couple hugging on the porch of their new home, sharing champgane etc... Why are we so stupid in this country??
blanchyt 2 years ago
I ask myself the same question, I feel rather than stupid, Australians are more apathetic, we don't take enough interest in politics or social issues. Many people vote without given it any real thought.
pauloz386 2 years ago
Lovely video. It is indeed all bullshit. Here's the truth. And you don't need to be an economist or mathematician to understand the truth about housing affordability.
In 1998 a house (near mine) in the Melburnian suburb of Yarraville sold for $112,000. It is now being auctioned for between $580,000 and $620,000. You don't need your thoughts clouded by talk of interest rates (which are going (way) up) or grants or REIV talk or anything. Just the figures. Just the prices. The downturn is coming.
SuperApparition 2 years ago
pish, pish, pish, pish, pish, pish pop!
halfasheep 2 years ago
love it.
well done
NEWBBQ 2 years ago
Love the video. Sadly, unlike the sound track says not 'everybody knows' but at least Australia is waking up.
rowan1802 2 years ago
I just love this video
strangejuice 2 years ago
That is awesome!
aoun2 2 years ago
Only the economic challenged dont realise we have the largest real estate bubble in the world. Now is not a time to buy its the time to SELL.
Great video .....
JustOneGoat 3 years ago 3