Oz house prices set to CRASH!

[Ash007]

Haha.. i better correct you 1st.. before Sam takes the credit

Wei you no need to work tomorrow ah ? 1am already leh ? I'm talking to PRC mei mei see can get money to buy house or not . :P

 

[axe168]

Wei you no need to work tomorrow ah ? 1am already leh ? I'm talking to PRC mei mei see can get money to buy house or not . :P

I start work at 9am leh.. sending son to school every morning and wifey picking him after school. Flexi hours is perfect ! I am lovin Australia every minute.. heehee

If you have surplus money, please lend me at a return of 7% guarantee I'll make it grow like crazy hehe

 

[Ash007]

I start work at 9am leh.. sending son to school every morning and wifey picking him after school. Flexi hours is perfect ! I am lovin Australia every minute.. heehee

If you have surplus money, please lend me at a return of 7% guarantee I'll make it grow like crazy hehe

same same here, eh.. how much is considered surplus?

 

[johnsgp1]

Can't service loan and still ask for 700K+?

cant service the loan then go dig in the mine loh..sell a bot more uranium to Iran.

 

[ozeman]

The higher the yield, the bigger the risk!

Property is no different from any other kind of investment. If you really think that real estate will always increase and never fall in value, you should revisit the market crash in 1992.

Balwyn, Kew, Camberwell, Malvern, Toorak and Brighton are all blue ribbon suburbs. Yet they all succumbed to the collapse in 1992.

I am not saying property will collapse soon. Just be aware that there is a risk factor to all kinds of investments.

Areas such as Balwyn, Balwyn north, Kew, Camberwell & Malvern will hardly drop due to schools and infrastructures. My gut feeling tells me the great Australia is like a 'magnet'.. PRC will take some time to digest the new ruling.. once they work out the loop holes, these PRC will be back again..

 

[axe168]

The higher the yield, the bigger the risk!

Property is no different from any other kind of investment. If you really think that real estate will always increase and never fall in value, you should revisit the market crash in 1992.

Balwyn, Kew, Camberwell, Malvern, Toorak and Brighton are all blue ribbon suburbs. Yet they all succumbed to the collapse in 1992.

I am not saying property will collapse soon. Just be aware that there is a risk factor to all kinds of investments.

Oh yes I agree... Nothing venture, nothing gain.. I have my balls hanging outwards & I have nothing to lose Melbourne was down for 2yrs starting 2004 and Sydney down for 4yrs about the same time. I think the worst is over and it is expected to be healthy for the coming years.

In worst scenario, I will return to SG to be slave & be PAP supporter !

 

[ozeman]

ahh.......no need to carry PAP balls!

If you fuck up, you can always come back to Brisbane and work in my chicken rice stall. hahaha.........

Oh yes I agree... Nothing venture, nothing gain.. I have my balls hanging outwards & I have nothing to lose Melbourne was down for 2yrs starting 2004 and Sydney down for 4yrs about the same time. I think the worst is over and it is expected to be healthy for the coming years.

In worst scenario, I will return to SG to be slave & be PAP supporter !

 

[neddy]

Oh yes I agree... Nothing venture, nothing gain.. I have my balls hanging outwards & I have nothing to lose Melbourne was down for 2yrs starting 2004 and Sydney down for 4yrs about the same time. I think the worst is over and it is expected to be healthy for the coming years.

In worst scenario, I will return to SG to be slave & be PAP supporter !

"SOLD"
"UNDER OFFER" - $32k "tong2 bao1" discount.
"UNDER OFFER" - $45k discount! subject to bank loan approval.


Confirmed!

1. For locals who need a 90% valuation loan, they can forget about going to the banks!!!

2. Finally, I have to thank the Ah neh and Ah Chan for their custom.

3. To the Sinkee property investor who talk too loud but cannot commit, :oIo:. Luckily, I did the sums and know that she is just talking cock.

4. For the Italian couple who helped their son with the 30% of the purchase price instead of spending 3 weeks in Lake Como. Excellent parents!

Without foreigners, Perth property market is dead!!!

No one attended an open house down the same street.

 

[Aussie Prick]

This is exactly what I have been hearing. For those Singaporeans with children in Australia- when they need thier own house its REALLY REALLY going to cost you. Ouch!

American parents are sleeping well at night - very cheap houses with only 3% FHA downpayments.

 

[neddy]

This is exactly what I have been hearing. For those Singaporeans with children in Australia- when they need thier own house its REALLY REALLY going to cost you. Ouch!

Whoever said that Australia is left-wing socialist better take a hard look.

We will do with a good dose of US socialist policies like the New Deal.

Where else in the world can you find 3% interest fixed over 30 years except in a socialist country, USA.
But some people are calling it the Raw Deal because of the number of foreclosures. But Americans can walk away from a mortgage and not owe than the bank a single cents. Wow.

This is what I really like about USA. In Public, they will not admit to socialism, but in private, they want socialist policies like housing security, job stability, and still have the 1st amendment!

Stand up for USA!

 

[Ash007]

This is exactly what I have been hearing. For those Singaporeans with children in Australia- when they need thier own house its REALLY REALLY going to cost you. Ouch!

American parents are sleeping well at night - very cheap houses with only 3% FHA downpayments.

No worries mate, the Singaporean that have stayed and have children here knows how to appreciate their assets much better then they are in Singapore. For the ones that can't make it, they whine and bitch and go back to Singapore. Either way, everyone is happy.

 

[neddy]

No worries mate, the Singaporean that have stayed and have children here knows how to appreciate their assets much better then they are in Singapore. For the ones that can't make it, they whine and bitch and go back to Singapore. Either way, everyone is happy.

I have this Singaporean buyer, cashed up from en-bloc, but suffer from a Singaporean problem. Unable to make up her mind.

I think the cosy Singaporeans will learn to be wiser after they spend some time outside Singapore.

Over here, we do not have a crazy uncontrolled type of property growth because there are market mechanisms to "regulate" the market.

Sidetracked to China, when Beijingers need to fork out over 20 times income to get hold of a property, we know that the system is not working properly.

 

[Aussie Prick]

Whoever said that Australia is left-wing socialist better take a hard look.

We will do with a good dose of US socialist policies like the New Deal.

Where else in the world can you find 3% interest fixed over 30 years except in a socialist country, USA.
But some people are calling it the Raw Deal because of the number of foreclosures. But Americans can walk away from a mortgage and not owe than the bank a single cents. Wow.

This is what I really like about USA. In Public, they will not admit to socialism, but in private, they want socialist policies like housing security, job stability, and still have the 1st amendment!

Stand up for USA!

Socialism? They have social security, medicare, free housing, free food etc. What is funny is Health care is universally covered by govt for all over 65 but for everyone else 85% of the population is covered by private health insurance paid for by the employers. The only people not covered are those not working and those who's companies dont provide it as a benefit. Obama was lambasted as a socialist for trying to implement some sort of universal coverage for all under 65 years of age. Looking at the US budget, too much is composed of its social safety net programs. If the US were to somehow reduce or defray its social program cost they would erase the deficit overnight and make China look poor.

RE: The number of US foreclosures is a subject spoken here at length. Remember only 9% of all US homes were affected. Of those 9%, they were a victim of 1) China buying too many treasuries making mortgage rates too low 2) Wall St CDOs that were flawed 3) Alan Greenspan's 1% Interest rate after 9/11 and 4) most importantly, over building.

Australian studies from the IPA have shown why houses in Australia, the UK etc have become unaffordable compared to their US counterparts and the answer from Australian scholars is: Prescriptive land planning. The more Australia tries to curtail sprawl the higher prices will go. In the US only California and Florida practiced this due to land constraints thus these states have very high foreclosures. Texas is mentioned in the Australian studies as the perfect example of correct land planning. Texas properties have not been affected by boom and bust cycles due to the correct land release to meet supply.

Have you seen why you can buy in Texas?
A$ 250K http://houston.craigslist.org/reb/1867202604.html

Another way to think of it is: China has driven your prices high while lowering them in the US.

 

[chewed]

notice he only keep talking abt cheap housing price in some outskirt suburbs in the middle of the US, but not the 1st tier cities

"Home for Sale in Spring, TX $225000"

info from Wikipedia:" Spring, Texas is 32 km north of Houston, population 36385.

trying buying a similar house 30 km away from downtown NY, LA, SF or Boston. I'm sure i can get a similarly priced house in Calbooture, Queensland too......

 

[neddy]

RE: The number of US foreclosures is a subject spoken here at length. Remember only 9% of all US homes were affected. Of those 9%, they were a victim of 1) China buying too many treasuries making mortgage rates too low 2) Wall St CDOs that were flawed 3) Alan Greenspan's 1% Interest rate after 9/11 and 4) most importantly, over building.

Anyone in the property game will tell you that 9% is influential enough to decide how the property price will move.

Another way to think of it is: China has driven your prices high while lowering them in the US.

Noticed how China has been made a scapegoat, esp with flawed Keynesian economists like Krugman who have no solution for the worsing US economy. I think the US will be the odd man out in the disastrous loose monetary policies. The recession has never left us, it was hidden by the govt-made economic stimulus, which only worsen the economies of all the G20 countries.
NOW WE ARE ONLY JUST BEGINNING TO SEE THE TRUE EFFECT OF THE GLOBAL FINANCIAL MELTDOWN.

 

[neddy]

notice he only keep talking abt cheap housing price in some outskirt suburbs in the middle of the US, but not the 1st tier cities

"Home for Sale in Spring, TX $225000"

info from Wikipedia:" Spring, Texas is 32 km north of Houston, population 36385.

trying buying a similar house 30 km away from downtown NY, LA, SF or Boston. I'm sure i can get a similarly priced house in Calbooture, Queensland too......

Not that I want to put Aussie Prick down, but he has nothing factual to show.

 

[Aussie Prick]

notice he only keep talking abt cheap housing price in some outskirt suburbs in the middle of the US, but not the 1st tier cities

"Home for Sale in Spring, TX $225000"

info from Wikipedia:" Spring, Texas is 32 km north of Houston, population 36385.

trying buying a similar house 30 km away from downtown NY, LA, SF or Boston. I'm sure i can get a similarly priced house in Calbooture, Queensland too......

I travel regularly to Houston for business and cannot believe how massive thier houses are. Houston is Huge - 4th largest City in the US.

Houston CBD surrounding areas is very very cheap, but old houses and not many people living there as most jobs are located outside CBD area. High crime areas of Houston are next to downtown CBD and surrounding area such as opposite convention center.

But if you like to live close to CBD - in Houston you can save money but its old. This house is located 2 mile from CBD.

http://houston.craigslist.org/reb/1842667393.html

Most people live in new suburb such as Sugarland, Katy, Spring, Humble, where the jobs are such as Halliburton, Nasa, Shell, etc

I have been to Spring (near the Houston airport) as that is where our local HQ is and where our colleagues there live. Many manufacturing jobs are in North Houston.

But there are many, many cheap houses close to the Houston Energy Corridor (West Houston, home of Shell, Esso, etc) where all the energy employees live. This is 7 miles from the Shell HQ. Pool, 300SQ/M, 250KUSD

http://houston.craigslist.org/reb/1810410781.html

Or where the Chinese live close to Chinatown (Southwest Houston) 2755 Sq/ft 250K AUD$

http://houston.craigslist.org/reb/1855560704.html

Or if you are a Chinese Engineer working for Nasa you will live in Clear Lake, (Southeast Houston)

http://houston.craigslist.org/reb/1865828628.html

Whatever houses you will find in Houston- it is massively cheaper than Singapore,Australia or the UK.

 

[Aussie Prick]

Not that I want to put Aussie Prick down, but he has nothing factual to show.

Oh now this is insteresting. I am so glad you bought this up becuase I have been to both Perth and Houston as our firm relies heavily on the Australian Institute of Public Affairs - so lets be clear - my large MNC company uses your own information for its own content professionally.

http://www.ipa.org.au/publications/782/the-tragedy-of-planning-losing-the-great-australian-dream

Now as someone who has spent time in Perth and Houston. Houston CBD is impressive but the areas outside the CDB are low income/poor areas full of old housing - this cant compare to Perth - or has South Perth suddenly become a bad area?

We can compare neighborhoods too. I've been to Mosman Park and my uncle used to live in Cottlesloe. There's little point in comparing what little these properties can purchase compared to even the most expensive Houston addresses. Have you ever seen a 10,000 sq ft 15 bedroom home? Spring is near the airport as is Spencers in Perth and I never went to house near Spencer's that was purchased for A$ 200K for a new 300Sq/m2 house with swimming pool, spa, sauna, and a home theater as I did in Spring with 4 car garage. And one house even had an elevator in it!

You can keep your opinions, I'll stick to my experience.

At least I know where American parents can be proud and secure for thier children's future in massive cheap houses instead if coming up with 30% downpayments for tiny concrete boxes just to keep thier kids off the street.

 

[axe168]

ahh.......no need to carry PAP balls!

If you fuck up, you can always come back to Brisbane and work in my chicken rice stall. hahaha.........

Yes ! I am arriving Brisbane tomorrow ! Hey, where are you ? lim kopi ?

 

[axe168]

You sold your subdivision ? Congrats..

I too asked for 90%loan and I'd paid $15k for mortgage insurance ~ some said i siao ! Soon my property is going to be converted in SGD @2.75% interest.. heehee.. if this happens, I'll book for a Prado VX diesel 6 mths wait..

Australia is such a kind country.. I've got a house, a 4WD, a backyard and plenty of beers.. can't ask for more.. I am thankful.

"SOLD"
"UNDER OFFER" - $32k "tong2 bao1" discount.
"UNDER OFFER" - $45k discount! subject to bank loan approval.


Confirmed!

1. For locals who need a 90% valuation loan, they can forget about going to the banks!!!

2. Finally, I have to thank the Ah neh and Ah Chan for their custom.

3. To the Sinkee property investor who talk too loud but cannot commit, :oIo:. Luckily, I did the sums and know that she is just talking cock.

4. For the Italian couple who helped their son with the 30% of the purchase price instead of spending 3 weeks in Lake Como. Excellent parents!

Without foreigners, Perth property market is dead!!!

No one attended an open house down the same street.