120K Buyers in negative equity

Debt slaves are sad 😭

Could it be the same people I was "competing with" in 2021 turning up with their 35k deposits walking around during house inspections with smirks on their faces whilst I was trying to buy the house for cash?

Banks should foreclosure quickly, and cash out those non performing loans…

The gov is not your friend, they just set traps for you, by mid 2023 your house market will be Fire sales, millions under water & for sale I feel, Sell now while you can… The Big crash Soon

Wonder how many went into negative after paying for a $100-200 000 car

Sibling of a colleague has been in negative equity in their Parramatta apartment for years. Parramatta Council blocked me from their Facebook page at least 3 years ago for pointing this fact out!

Yep, brought a house in Sydney in 1996, Rates at 8.8%.ish.? for $380k with my sister. 14yrs later house worth $1.1 million. Then, the 2010 /11 housing crash. Lost $160k in 12 months. Sold, at $940k after paying loans, cars and credit cards we walked out with $330k each. moral of the story, a house is no longer an investment for me. It is a home to raise my kids and give to them when I pass. Living easy life with no stress, money comes and goes. The roof over ya head is priceless.

Considering some of the madness I witnessed in the inner west of Brisbane, I'm not surprised.
And interest rates are not particularly high!
Possibly not even average!

Nobody’s done a story on the sellers who had $200k cash to splash after making off like bandits when they sold at peak. There is a LOT of money circulating round the shops from those moguls.

Rates need to go higher than inflation.
Need to recalculate inflation using traditional economic formulas. Not the manipulated formulas used today.

My 2 cents, fair market value of property is at max 4 times average income, sydney 2 bed apartments are worth 300-350, your average 4 bedroom detatched home in a working class suburb is worth 550-650. Look at global averages, look at Australia's historical averages prior to the 2000s, when property bubble began, the bubble has been 15 years in the making, it will take a while for prices to return to sensible levels… with unemployment rising now and will only continue to rise given the RBA hit the breaks with increasing vigour its absolute madness that there are a few hundred thousand migrants about to enter the country.

Absolutely ridiculous the government wants the plebs cutting each other's throats to land a job, to swim as hard as they can against the current and go nowhere, what's wrong with businesses having to fight for staff, Australian government meant to put the Australian people first, don't recall businesses being able to vote but your average working man who make up the majority of voting pool does, so sick and tired of labour or liberal they are too complacent, do nothing but play their tired game, tired old arguments, nowhere is it written that this is the way it has to be..

I just see an "investor" in my suburb dumping 7 units in the same building for selling. That's gonna be amazing next months

If you took the experiment, don't look too far in to the future.

What is negative equity?

But why can you FLY AROUND THE COUNTRY FOR LIKE, NOTHING? Why does the Australian government subsidise thrivolous flying? People going from Townsville to Adelaide to watch a test match…