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Housing collapse 2012 for Australia

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BROOKE View Drop Down
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    Posted: 20 Sep 2010 at 1:55pm
Its,on,the,way,peoples.
Will,start,in,2011.
Properties,in,Australia,will.drop,by,40percent,to,60,percent.
We,are,the,last,developed,country,to,get,hit.
But,its,on,the,way.
Homes,worth,$800,000,now,will,drop,as,far,as,$400,000,in2011.
Interest,rates,set,to,skyrocket.
Best,time,to,sell,,,,,,,,NOW.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Maximillions Quote  Post ReplyReply Direct Link To This Post Posted: 20 Sep 2010 at 2:33pm
.....ok..ok...I'll let you move in with me....only till things get better
Forget the odds.....You are Unstoppable !
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Post Options Post Options   Thanks (0) Thanks(0)   Quote BROOKE Quote  Post ReplyReply Direct Link To This Post Posted: 20 Sep 2010 at 2:35pm
Thanks,Maxi.Heart
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Post Options Post Options   Thanks (0) Thanks(0)   Quote The Muffin Man Quote  Post ReplyReply Direct Link To This Post Posted: 20 Sep 2010 at 2:42pm
Originally posted by BROOKE BROOKE wrote:

Its,on,the,way,peoples.
Will,start,in,2011.
Properties,in,Australia,will.drop,by,40percent,to,60,percent.
We,are,the,last,developed,country,to,get,hit.
But,its,on,the,way.
Homes,worth,$800,000,now,will,drop,as,far,as,$400,000,in2011.
Interest,rates,set,to,skyrocket.
Best,time,to,sell,,,,,,,,NOW.


I have a double whammy coming then, I will have a house by then and a mortgage with Westpac. Oh the humanity!!!
"Well, I will never post again, if the Oz dollar doesnt go below 80 cents within the year 2012." - Occy22
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Post Options Post Options   Thanks (0) Thanks(0)   Quote BROOKE Quote  Post ReplyReply Direct Link To This Post Posted: 20 Sep 2010 at 3:14pm
Yes,this,was,always,going,to,happen.
We,were,never,going,to,escape,it.
The,housing,bubble,was,always,going,to,burst,here.
It,has,been,over-inflated,for,far,too,long.
People,just,assumed,it,would,keep,going,up,in,value.
People,are,going,to,be,shocked,to,find,their,house,is,worth,half,it,once,was.
Hence,best,to,sell,now.
Better,off,in,stocks,for,a,while.

Muffin,you,should,have,waited.You,could,have,bought,two,homes,in,2011.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote The Muffin Man Quote  Post ReplyReply Direct Link To This Post Posted: 20 Sep 2010 at 3:26pm
Strong employment, real wage growth, house shortages, and projected economic growth to continue means that a 40-60% price fall really is the realm of people like yourself BROOKE. Housing prices may not rise as quickly, stagnate, or even fall slightly due to interest rate rises, but they won't fall 40-60%. They would have to fall by more than 20% for me to begin losing capital anyway, thanks to the Government handouts. On top of that and as always, you only crystalise the loss if you sell, so even if your armageddon scenario of 40-60% played out, just hold the asset until asset prices recover. It's the same with shares, you only make a loss if you sell.
"Well, I will never post again, if the Oz dollar doesnt go below 80 cents within the year 2012." - Occy22
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Nocturnal Quote  Post ReplyReply Direct Link To This Post Posted: 20 Sep 2010 at 4:09pm
Originally posted by The Muffin Man The Muffin Man wrote:


Originally posted by BROOKE BROOKE wrote:

Its,on,the,way,peoples.Will,start,in,2011.Properties,in,Australia,will.drop,by,40percent,to,60,percent.We,are,the,last,developed,country,to,get,hit.But,its,on,the,way.Homes,worth,$800,000,now,will,drop,as,far,as,$400,000,in2011.Interest,rates,set,to,skyrocket.Best,time,to,sell,,,,,,,,NOW.
I have a double whammy coming then, I will have a house by then and a mortgage with Westpac. Oh the humanity!!!
Very funny Muffin
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Post Options Post Options   Thanks (0) Thanks(0)   Quote BROOKE Quote  Post ReplyReply Direct Link To This Post Posted: 20 Sep 2010 at 4:29pm
Muffin,if,your,goal,is,longterm,with,a,property,then,yes,stay,with,it.
But,most,people,will,struggle,to,pay,their,mortgage,anyway.
Thus,homes,are,going,to,sell,for,half,their,price.
By,the,way,most,economic,experts,are,predicting,this.
Our,homes,were,over,inflated,for,a,long,time
The,bubble,will,burst.
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The Muffin Man View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote The Muffin Man Quote  Post ReplyReply Direct Link To This Post Posted: 20 Sep 2010 at 4:40pm
Most economic experts aren't predicting 40-60% falls in price. Prices may come off a little with interest rates rising and Government support being somewhat withdrawn, but demand will stay quite robust due to the reasons I mentioned earlier.
"Well, I will never post again, if the Oz dollar doesnt go below 80 cents within the year 2012." - Occy22
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Post Options Post Options   Thanks (0) Thanks(0)   Quote BROOKE Quote  Post ReplyReply Direct Link To This Post Posted: 20 Sep 2010 at 4:44pm
A,home,worth,$500,000,right,now,will,struggle,to,be,worth,$350,00,by,the,end,of,2011.
Thats,the,reality,australians,will,face,next,year.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote BROOKE Quote  Post ReplyReply Direct Link To This Post Posted: 20 Sep 2010 at 4:51pm
And,Muffin,even,the,best,Stock,experts,know,the,housing,prices,are,going,to,slump,in,2011.
The,poorer,outer,suburbs,will,drop,first.400,000,to,$200,000.
Then,gradually,closer,to,city,will,also,drop.Not,as,much.But,certainly,$700,000,apartments,will,drop,to$550,00
That,will,be,the,common,trend,next,year.A,downward,one.
Wont,recover,for,several,years.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote BROOKE Quote  Post ReplyReply Direct Link To This Post Posted: 20 Sep 2010 at 4:52pm
that,was,meant,to,say,$700,00,to,$550,000,,innersuburbs.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote The Muffin Man Quote  Post ReplyReply Direct Link To This Post Posted: 20 Sep 2010 at 4:55pm
I can't see a house worth $250,000 now being worth $125,000 in a year's time unless our unemployment rate has blown out to a record level. Maybe some of the extreme high end house prices will fall somewhat as the market cools, but I severely doubt the houses up to $700-$800k will experience a large drop in price. Strong demand underpinned by low unemployment won't allow it to occur. Time will tell though I guess.
"Well, I will never post again, if the Oz dollar doesnt go below 80 cents within the year 2012." - Occy22
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Post Options Post Options   Thanks (0) Thanks(0)   Quote BROOKE Quote  Post ReplyReply Direct Link To This Post Posted: 20 Sep 2010 at 5:09pm
Muffin,whilst,employment,rate,strongly,affects,economy,,,,the,crash,is,due,to,years,of,over-inflation.
Its,a,case,of,what,goes,up,must,come,down.
Its,been,a,bubble,for,a,long,time
The,government,tried,to,Band-aid,the,affect,two,years,ago,but,ultimately,it,only,delayed,whats,going,to,happen.
Its,not,"if",,,its,"when".
And,yes,properties,even,over,$800,000,will,certainly,drop,to,$600,000,to,$500,000,etc.
Its,not,going,to,be,a,gentle,decline.
The,current,market,is,stagnant.
But,the,decline,is,next.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote BROOKE Quote  Post ReplyReply Direct Link To This Post Posted: 20 Sep 2010 at 5:14pm
You,state,"strong,demand".
Thats,exactly,the,point.There,WONT,be,a,demand,in,2011.
Interest,rates,will,be,too,high,,,forcing,people,to,rent,and,not,afford,to,buy.
Thus,home,owners,unable,to,pay,mortgage,forced,to,sell,at,much,cheaper,prices,to,meet,market.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote The Muffin Man Quote  Post ReplyReply Direct Link To This Post Posted: 20 Sep 2010 at 5:20pm
Interest rates won't be "too high," they will be back to NORMAL levels. The housing market was still strong in 2006-2007 when interest rates were far beyond what they are today, and what they will be in a year's time.

While people remain employed, they will continue to demand housing. You don't think that when all of those people renting start seeing housing prices decline by, say, 10%, they won't think it's time for them to enter the market? The key is that unemployment remains low, meaning people have incomes that are able to service their mortgage and those same people are confident they will have an income stream into the future. You won't get a 40-60% house price crash unless it's accompanied by 10% unemployment. The Australian housing market is NOT the US housing market, there are many, many differences. Let's start with the fact our banks don't typically lend to people with no chance of making repayments.
"Well, I will never post again, if the Oz dollar doesnt go below 80 cents within the year 2012." - Occy22
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Post Options Post Options   Thanks (0) Thanks(0)   Quote BROOKE Quote  Post ReplyReply Direct Link To This Post Posted: 20 Sep 2010 at 5:27pm
So,you,actually,predict,the,prices,will,keep,going,up/and-or,remain,stagnant?

Are,you,"assuming"unemployment,wont,reach,10,percent?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote The Muffin Man Quote  Post ReplyReply Direct Link To This Post Posted: 20 Sep 2010 at 5:35pm
Let's remember your prediction here, it was 40-60% by 2011. Unemployment will not double in 12 months. Housing prices may come off a little bit, particularly at the higher end of the scale, but they won't come off 40-60% with unemployment fluctuating between 5-6%.
"Well, I will never post again, if the Oz dollar doesnt go below 80 cents within the year 2012." - Occy22
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Nocturnal Quote  Post ReplyReply Direct Link To This Post Posted: 20 Sep 2010 at 5:48pm
Originally posted by BROOKE BROOKE wrote:

Muffin,if,your,goal,is,longterm,with,a,property,then,yes,stay,with,it.But,most,people,will,struggle,to,pay,their,mortgage,anyway.Thus,homes,are,going,to,sell,for,half,their,price.By,the,way,most,economic,experts,are,predicting,this.Our,homes,were,over,inflated,for,a,long,timeThe,bubble,will,burst.
By,the,way,most,economic,expertsWhich ones Brooke???
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Post Options Post Options   Thanks (0) Thanks(0)   Quote BROOKE Quote  Post ReplyReply Direct Link To This Post Posted: 20 Sep 2010 at 6:14pm
In,2007,I,predicted,we,were,heading,to,a,global,financial,crisis,and,people.on,here,laughed,at,me.
One,year,later,,,,,bang.2008.it,hit.

I,also,informed,people,that,Westpac,was,in,serious,trouble,with,Centro.
Only,a,few,months,later,Westpac,required,itself,to,join,with,smaller,bank,St.George,to,prevent,potential,disaster.

Now,Im,saying,huge,housing,decline,in,2011.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote BROOKE Quote  Post ReplyReply Direct Link To This Post Posted: 20 Sep 2010 at 6:17pm
By,the,way,Muffin,housing,declines,were,GLOBAL,and,still,are.,,,Not,just,United,States
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Post Options Post Options   Thanks (0) Thanks(0)   Quote BROOKE Quote  Post ReplyReply Direct Link To This Post Posted: 20 Sep 2010 at 6:19pm
My,other,prediction,,,,
United,States,will,want,China's,oil.and,China,is,going,to,reply,"get,lost,you,owe,us,trillions"
And,ummmm,trouble.
Thats,why,we,need,to,swap,sides.Go,with,China,not,United,States.
United,states,is,GONE.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Wortel Quote  Post ReplyReply Direct Link To This Post Posted: 20 Sep 2010 at 7:18pm
China isn't going to get that money back LOL
 
The US empire is about to collapse.

Revolution!!! Cool
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Maximillions Quote  Post ReplyReply Direct Link To This Post Posted: 20 Sep 2010 at 7:42pm
...Maybe what Brookeeee is trying to say is that Australia can only look back on its past data...that is, previous interest rate rise history in this country...At this time Australians starved themselves but kept the home !...what they are predicting this time is that Australians will walk away from their homes causing a flood of property onto a cashless market....Yes Brookee baby it could very much unfold this way
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Post Options Post Options   Thanks (0) Thanks(0)   Quote birricannia Quote  Post ReplyReply Direct Link To This Post Posted: 20 Sep 2010 at 9:10pm
Not only are we going to lose our houses but there are no bloody comas left caus' brook used them all.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Rosscoe Quote  Post ReplyReply Direct Link To This Post Posted: 20 Sep 2010 at 9:54pm
Originally posted by birricannia birricannia wrote:

Not only are we going to lose our houses but there are no bloody comas left caus' brook used them all.


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Post Options Post Options   Thanks (0) Thanks(0)   Quote Rosscoe Quote  Post ReplyReply Direct Link To This Post Posted: 20 Sep 2010 at 9:55pm

Confidence returns to the Australian property market

16/09/2010

The chaotic state of the economy and the topsy-turvy real estate market over the last two years has done little to dissuade us from buying property, with new data showing that 15% of all Australians plan to buy property in 2011.
 
The latest figures from Datamonitor confirm that Australians are as keen as ever to buy bricks and mortar, despite the threat of rising interest rates.
 
“Consumer confidence in the Australian property market has rebounded after the tremulous last year,” says Petter Ingemarsson, Datamonitor’s financial services analyst.
 
According to Datamonitor, 8% of Australians intend to purchase an investment property in the next 12 months.
 
A further 7% plan to purchase their first home – despite record-low affordability due to rising property prices and increasing interest rates.
 
“The strong first-time buyer demand in the survey is largely driven by confidence in property prices,” Ingemarsson says.
 
“Also, the residential property market weathered the storm of the financial crisis without a major price correction, which has contributed to the current strong consumer confidence.”
 
Investors are gearing up to return to the market in droves, with 8% of survey respondents indicating that they intend to purchase an investment property in the next 12 months – almost double the level of interest in 2009, when just 5% of respondents said they had plans to invest. “The prospect of capital gains drives property investor intentions,” Ingemarsson explains, “with rental income a secondary consideration.”
 
Whether you’re thinking of investing or you want to your own home, there’s never been a better time to buy that right now, according to property expert Peter Koulizos.
 
“With the threat of interest rates going up, the property market is just flat-lining,” he says. “It’s a terrible time to sell, but a really great time to buy.”
 
Koulizos warns property buyers “not to expect big things in the short-term”, as price growth over the next few years is expected to be sluggish, particularly if interest rates continue to head north.
 
“But as consumers and businesses rebuild their confidence post-GFC, it will improve,” he adds. “We certainly have the good bones of a property upsurge.”
 



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Post Options Post Options   Thanks (0) Thanks(0)   Quote slowdown Quote  Post ReplyReply Direct Link To This Post Posted: 20 Sep 2010 at 10:10pm
thats funny Birri.LOL
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Wortel Quote  Post ReplyReply Direct Link To This Post Posted: 22 Sep 2010 at 5:39pm
Home owners should build a shirine to immigrants.

If not for the demands they placed on our market it would have crashed years ago.

They don't spend money, they just buy the cheapest food, live on rice and buy all our property.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Nocturnal Quote  Post ReplyReply Direct Link To This Post Posted: 22 Sep 2010 at 8:43pm
Get out from under rock wortel,
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