#housingmarket #housingcrash #heisesays
Hopefully, they can make lifestyle changes and toughen through.
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While housing prices still remain high lol
Debt slaves are sad 😭
People borrow to much.
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?
Meh. When I hear that 2016 buyers are in negative equity now that will be newsworthy.
Banks should foreclosure quickly, and cash out those non performing loans…
The British Empire supposedly ended the slave trade.
Slavery is alive & well in former Brittish colonies now.
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
Ahaha there’s much more than 120K 😂😂
I know about 5 mates of mine just off the top of my head.
Wonder how many went into negative after paying for a $100-200 000 car
Albo will fix this after his march in leather chaps and gimp mask 🌈🤣
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!
For home owners who go long, they dont care. Investors are a different story…
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!
What a crap feeling to be in, most don't even like the house they settled for
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.
Just wait 5 years, they will double in price! Pyramid scheme to the max!
Rates need to go higher than inflation.
Need to recalculate inflation using traditional economic formulas. Not the manipulated formulas used today.
The most reliable workers is the one in the most debt, this is the upside of interest rate rises.
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..
Hopefully this is teaching younger people that it's better for mind, body,and pocket, to have a modest home with a roof over your head, with a snall mortgage, or that you own outright, than a flash, new home and a $800k+ mortgage (to look good).
I just see an "investor" in my suburb dumping 7 units in the same building for selling. That's gonna be amazing next months
They know what's going to happen after they raise rates. All deliberate because they need a crisis so that the people will demand them for their solution.
If you took the experiment, don't look too far in to the future.
I care what my house is valued at, the more it is valued at the more the local council charges me to collect my bins those scoundrils
What is negative equity?
We got offered 3x what we paid…….and said No…..we are not wanting to move…
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…
In rural Australia alot of properties are being bought after a few days.