Only in 3 other extreme events have clearance rates been in the 30s in Sydney: twitter.com/LouiChristopher/status/1053585757351231488 (they'll be revised down to ~38% once the full results come in) - Oct/Nov 2008 (GFC), May 2004 (NSW vendor stamp duty) and July 1989 when the cash rate hit 17%. Sydney buyers are responding with the same recluctance to buy as during the worst recession in our generation, the highest new purchase tax in our generation, and the highest interest rates in the boomers generation.
All these new buyers on IO only loans will rollover causing spending to reduce in the economy rba.gov.au/speeches/2018/images/sp-ag-2018-04-24-graph4.gif and investors being forced to sell as they cant afford the now 40% increase in repayments. They are new buyers and won't have made a profit, thousands of sellers making a loss, completely eroding whatevers left of positive sentiment.
Those of our generation who werent gambling normie retards who bought into the 'le 7 year doubles XDD' meme are now vindicated and will be rewarded. As a bonus, all the normie LE 7 YEARS PRICE DUBLE XDDD are going to lose hundreds of thousands of dollars in equity, millions in opportunity cost, and we get to gloat for being intelligent and prudent.
Brandon Cox
good property market needs to shit the bed before boomers die and gen xers retire
Jaxon Moore
JUST dont want to live with my parents anymo
Christopher Phillips
And I still have to finish my lease paying $700p/w in fucking Brunswick just to have good coffee and hipster shit god fucking damnit I've just spent 3 months in Europe realising that for $915p/m I could live in a fucking palace in Berlin or a pimp aparment in Malasana fuck you Australia, fucking shithole.
/housefags/ how much was your house, whats your mortgage like and how salty are you that the market's gonna drop and stay that way for at least a decade or two
Angel Morgan
mines 1.6m. not salty at all since i'm up 100% off my purchase. that's life, prices go up and down. i just like where i live and it generates me income and stability.
Landon Watson
I hope you live in an expensive city or have a mansion because that's a castle money in most of the states.
>Australian real estate goes nuclear >LINK moons >Scoop up property for peanuts and generate passive income from running a node and a diverse portfolio of traditional investments Can life really be this easy? I guess we will find out. My gut tells me that it'll still be a while until our real estate market properly 'crashes' and unleashes destruction on our economy.
Nathaniel Evans
In my area (Sydney inner suburbs) $1300+ is commonplace. Usually split between 2-4 people though. I pay $300/w myself. This is in dollarydoos though so you do the matharydoos.
Ryan Sanchez
real estate is going to go down forever 3d printed houses are coming population density is going to peak this century inflationary currency is dead
Jose Roberts
Sounds like it will soon be a good time to buy in Melbourne. Great. I fucking love that city.
Ryan Ortiz
>Usually split between 2-4 people though. lol what the fuck
gross
Dylan Stewart
When you have friends and or family it's fun actually. If you're not a poor brainlet it's easy to get by, I don't know what all the complaining is about. What 3rd world shithole do you live in?
no its shit. paying money to live with other people is what children do in college dorms. get your own space and take care of your shit.
imagine having to live in a home where everything needs to be decided by someone else. jesus fucking christ.
Jackson Morales
It's just going to keep going up. They'll crash prices occasionally so that banks can then repossess more houses and rent them out. Feudalism is the future.
3d printed houses will be regulated out affordability.
We got some good digit skills. An accounting bird i was shagging laughed when I said Melbourne's real estate would start tumbling. "Housing always goes up silly"
I hope you paid to fuck her then at least she’d show some sense
Adrian Gutierrez
My dad and his sister sold their mum's house, an inheritance, for over 2 kill a few weeks before this downturn.
Fuck they dodged a bullet there.
Jackson Ramirez
Sorry that should say mill.
David Bell
A 2br apartment should cost around 350k MAX in a ~6km radius
Christopher Cook
timing the top, nicely done. My parents have refused to sell their mcmansion despite needing to downsize, citing the reason ‘we need to get as much money as possible’. looks like they missed there chance
LINK is a shit utoken that has no reason to exist.
Jaxson Price
fuck i HATE hsbc so much
Matthew Moore
>cost of construction doesnt affect house prices
William Morris
>Paying women for sex Hell no
Michael Miller
only if you live in flyover country. in the civilized world, existing buildings reduce real estate value, because tearing them down to build something new costs money.
Ethan Evans
Why are Australian real estate prices so high when like half of their country is empty land?
Ethan Williams
Chinks
Ryan Gray
Lazy government and desert
Anthony Cook
Desert doesn't really explain it though, the US has lots of areas with high populations in the desert just look at Las Vegas and Los Angeles.
Isaiah Stewart
That's why I added our government, If you think USA is bad consider we have changed world leader almost once a year with political infighting and everything gets bogged down as our bills rarely pass. Corruption is also big (our IT minister got busted for going 120 gig over the limit and billed taxpayers). Here a pic of the current Leader his been there for about a month or two
Is Perth safe? I'm in the market to buy but this is scaring me off. I've been really stingey offering 50k below asking price but sellers aren't having it. The market here still seems relatively healthy albeit not overly lucrative
Australia has a tiny population and the market is propped up by Asians who all crowd the urban centers. We simply don't have the population to develop more. The land won't sell.
Adam Jones
The dream, right here
Josiah Clark
>be a city whose economy is solely dependent on collecting red dirt and brown sludge from 1000 miles away and be full of financially irresponsible bogans >Have a stable housing market
Nolan Brooks
>perth
stay the fuck away from that shithole. if you want to commit suicide pills are a lot easier
