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  1. #31
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    Quote Originally Posted by Hannahly View Post
    I beg to differ. Interest rates are low which means people can currently afford to service large mortgages on over-inflated property prices. Some people can also afford to negative gear and back to back loan to purchase several houses and investment portfolios, forcing others out of the market. I'm not entirely sure about the 'housing shortage' you are referring to, unless you mean shortage of unaffordable houses - because prices have been so inflated?
    See thats not entirely true either, whilst yes interest rates are low banks are not letting consumers over stretch themselves and also banks are very conservative in valuations which means that if a property is grossly over inflated then it wont stack up against the bank valuation so therefore the loan will not go ahead - that is a key reason why our property market will not crash as the issues I mentioned above are what crashed the American property market (rouge bankers, real estate agents, property valuers & mortgage insurers over inflating the market values, lending to those who could not afford the loans etc). There will certinley be bargains to be picked up along the way as those suffering from mortgage stress are forced to sell but you are looking at a minority, not majority. Those who think that prices will fall back to where they were before our real estate boom are kidding themselves. Again we are in a in a buyers market, especially with speculation of another interest rate cut in February.

  2. #32
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    ^^ what she said!
    Our sales figures for this month are well above this time last year and we have not had a rental property vacant for more than 2 weeks in a long time ( in Sydney)

  3. #33
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    Quote Originally Posted by Elijahs Mum View Post
    ^^ what she said!
    Our sales figures for this month are well above this time last year and we have not had a rental property vacant for more than 2 weeks in a long time ( in Sydney)
    Does that not indicate that people are liquidating their assets before a fall in prices?

  4. #34
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    No, it means people are buying

  5. The Following User Says Thank You to Chew the Mintie For This Useful Post:

    Pina Colada  (26-01-2012)

  6. #35
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    For the people who have said they are moving their money elsewhere, where exactly, if you don't kind my asking?

    Just curious... I don't think I've been around long enough (or been paying attention long enough) to really have an opinion about the op.

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    Quote Originally Posted by Hannahly View Post
    Does that not indicate that people are liquidating their assets before a fall in prices?
    Ah no it means people are selling their homes ( houses in our suburbs were built in 1960 so most owners are now in their 60,s/70,s and are selling to retire, young families are moving in) the 2 I personally sold this month were a late 60,s couple retiring to the central coast (its a knock down, the buyers intend on building a new home) and a 40,s something family with 3 kids selling as they already bought a bigger home in the same suburb ( nice young couple bought their home, no kids yet)

  8. #37
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    Depends what state you are in I would think! The housing market in Perth has been stagnant for 12-18mths ish now. I heard they predict Perth market to go up a bit shortly. The northwest WA is booming due to our mining resources and its just getting bigger and bigger so unlikely houses in some mining towns will drop. I know in our town the prices are through the roof and are expected to continue. Good for us that own properties but not good for those starting out.

  9. #38
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    Quote Originally Posted by Chew the Mintie View Post
    No, it means people are buying
    Then it would be a sellers market right? A buyers market indicates there are more houses on the market than people buying, so sellers need to reduce the expected price of their house in order to sell, thus the current fall in property prices.
    Last edited by Hannahly; 25-01-2012 at 20:03.

  10. #39
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    Quote Originally Posted by kristinandchloe View Post
    For the people who have said they are moving their money elsewhere, where exactly, if you don't kind my asking?

    Just curious... I don't think I've been around long enough (or been paying attention long enough) to really have an opinion about the op.
    Gold and cash

  11. #40
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    Quote Originally Posted by Kimberleygal1 View Post
    Depends what state you are in I would think! The housing market in Perth has been stagnant for 12-18mths ish now. I heard they predict Perth market to go up a bit shortly. The northwest WA is booming due to our mining resources and its just getting bigger and bigger so unlikely houses in some mining towns will drop. I know in our town the prices are through the roof and are expected to continue. Good for us that own properties but not good for those starting out.
    Unless export of minerals decline, or become less fruitful due to a crash in the Chinese economy, then houses in mining towns that are no longer viable will be worth a lot less.


 

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