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Author Topic: Party over!! World’s longest running bull market – 55y Aus housing...  (Read 5824 times)

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Arkane

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Back in the 70's when one bought a new house it was a house and very basic at that
There was no landscaping, no pool, no phone line, no garage, no driveway, no grass even, one light and that was just a globe in a bare battern  fitting and one or maybe two powerpoints, no window coverings, no aircon, not much fencing at the front if any, no flyscreens and the list go's on!

Now you get most everything as a package deal!

Of course it cost more as you are getting much more!
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graynomad

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    • Rob's website

Yeah that's all we got for house #1. Bare house on bare dirt in a new bare suburb. I have no idea what people get now.
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Scattered showers my arse -- Noah, 2348BC.

OzHippy

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The price of land is majority of the house price.  The price for an empty block is not much different to a built property.
One also needs to consider that taxes are much higher, cost of insurance is much higher, sales tax is higher.   Disposal income is prob lower.

As to the 2008 GFC - the global economy has not recovered since then, just held up with debt and money printing.  Yeah 2008 was US debt was the cause, now there is global housing, money printing, country debt has escalated to never before seen levels, company and private debt is also at all time high, stock prices related to earnings (PE ration) is higher than during the 1929 crash.  When the whole system implodes - there will be no recovery.

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HUNDREDS of thousands of Aussie households face a $7000 hike in home loan repayments as new rules bite hard, and it could cause trouble across the whole economy.
Every year for the next three years, up to an estimated 200,000 home loans will be moved from low repayments to higher repayments as their interest-only loans expire. The median increase in payments is around $7000 a year, according to the RBA.
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We live in interesting times!!

myfxpt

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Back in the 70's when one bought a new house it was a house and very basic at that
There was no landscaping, no pool, no phone line, no garage, no driveway, no grass even, one light and that was just a globe in a bare battern  fitting and one or maybe two powerpoints, no window coverings, no aircon, not much fencing at the front if any, no flyscreens and the list go's on!

Now you get most everything as a package deal!

Of course it cost more as you are getting much more!

A bit like comparing apples with oranges. Block of land back then was twice the size. Houses were double brick, hardwood timber trusses, door frames, window frames, and trim. It's just an illusion to think you're getting more today!
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doomsdayprepper4570

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What they get is shafted Rob!
Back passage with no lube.
And if they survive that they are slaves to the banks all of their lives.
Problem is people want too much too quick and think about the consequences later when it bites on the backside!
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Loose ends make my arse itch and I have just clipped my finger nails. So the itch flows to my trigger finger.

OzHippy

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What they get is shafted Rob!
Back passage with no lube.
And if they survive that they are slaves to the banks all of their lives.
Problem is people want too much too quick and think about the consequences later when it bites on the backside!


It is a no win situation.  In Sydney rent and monthly payment on a house is about the same.  Things are so crazy that the big issue is people are unable to save the 10% deposit hence never get opportunity to purchase.  Yeah too much student debt and vehicle debt etc...  It is too much debt too soon.. The same issues exist in Japan, Korea etc...  No one can afford housing anymore so they don't get married, that is a major contribution to the poor birthrate...


It is now coming back to bite gov, and countries and in the next financial crash everything goes up in smoke.....
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We live in interesting times!!

odzy

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Blame the farking greedy banks...  they brought us here, not long now before the big reset  ::)
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doomsdayprepper4570

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It is generally greed Ozz!
People buying houses and properties and then reselling them at inflated prices and other idiots buying them
above sustainable levels. Local government rates increases as do property prices etc etc etc.
And it goes on and on.
All driven by greed.
I have little sympathy for any involved, just feel sorry for the younger coming alone and expecting to do the same shit.
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Loose ends make my arse itch and I have just clipped my finger nails. So the itch flows to my trigger finger.
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