Michael Cowan
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Australian Housing Market Crash Will Be Worse Than US 2008 Subprime Mortgage Crisis
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As a non home owner, I say thank Christ.
Forget statistics. The economic disaster that will befall the world is going to be devastating. Everything is going to crash in ways never seen before. There is a 2.5 quadrillion dollar debt that they can't even pay the interest for no matter what all the central banks do. If you are in debt you are finished. Banks are going to crash and so are governments.
Henley homes down from 110 a month to just 10 should get interesting
Great. Too many ppl are profiting from a basic human right. The government needs to move away from tax incentives for investment properties and put tax deductions on principal places of residence. The drain on the economy when people don't own their own home is massive
Spot on. Hopefully Australians put their money into shares business industry commercial property farming mining… but never ever housing. Keep housing costs low or it stuffs the economy and makes many of us poor. Use comonsense better to have an affordable house, or cheap rent, have big families, good education, low immigration. Stop being greedy selfish traitor drongos booting disabled and pensioners out of their rentals to jack up the rents. Greedy realestate traitors wrecking the Aussie dream and economy should leave this country with their dirty heads hung in shame… these grubs don't deserve to live here.
Prices are down but still above pre pandemic prices so can go down 30 percent and if you brought years ago no loss
People who brought in last 2 years will take a hit a lot. Orrowed thinking rates would never go up and house prices never drop .They will feel the pain for sure
House prices in Aus won’t crash as there is a supply and and demand issue.
Not enough property out there.
Sorry but I can’t listen to a man that can’t pronounce the name of his Country 😢
Sorry folks but this fellow isn’t right.
My greatest happiness is the $ 64,000 bi weekly profit I get consistently from my $ 15,000 investment despite the economic fluctuation
Finally someone that speaks the truth and understands it! I've been saying this for years. Thank you Michael. Love from aus.
Mid 2019 I applied for the loan with the broker giving me the worst case scenario that I could afford. Covid didn't exist fuel was $1 a L. fast forward 3 years. The worst case scenario will be reached in a few months and will be trounced mid next year. Covid has ruined absolutely everything consumer staple wise. Single wage middle income wont survive this.
play landlords, win prizes in your old age.
Ppl need to take responsibility of their own finances, live within their means and stop blaming everyone else for their spending habits.
Over here in New Zealand they are already saying its going to be 4.5percent by June next year, it won't peak there it won't even start coming down until interest rates are higher than inflation, so above 8 easily next year,
Strange things are happening. My Super Fund (one of the Big ones), just happens to be "Down for Maintenance" for the next week (how can it take one week for maintenance in this day and age). Maybe too many people are cashing out or switching their super to cash (which luckily I did late last year). You wait when things get bad, banks/ATMs will be shut "due to technical problems". The Sh..t is getting very close to hitting the fan.
A nation of people expecting shelter to be exponentially more expensive isn't the best idea ever.
I only stop by here to see this Dufus flap his arms like a toddler on a tantrum. Then I’m outa here. Lol.
Spot on michael !
Wage increases….already happening….will save you.
Check out Michael Yardney. He will tell you the exact opposite. Which Michael to believe?
This inflation is not the same inflation that occurred in 2008. This inflation is caused by 15 trillion freshly printed stimulus dollars. That needs to be considered. 2008's inflation was debt but remember debt was crashing in 2019 so that's not the reason this time.
Inflation is the Govt. fault but the people pay for it. I don't agree with the Govt. and the Banks making money off of the people. That is not good govt. It is in the Govt. and Banks' interest to create inflation as they make money off the hard-working people.
Checking in 2022 and still going fine
Didn't the RBA just about go under on that last release ,stating if it was a normal company it would be liquidated because of its loss in bond equity, well interest rate rises are going to crash bond equity more I'd give the auz banks another 4 hikes and they will fold ,yep BAIL IN clause😂 add china's recession and auz massive reliance on them to purchase there minerals for GDP
I can see a 60% crash
USA dropped 50%in 2008 .This will be worse
Yeah.. "Stay home, save lives". Good job!
RBA interest rate needs to go up by at least 2% but too late now.
Because the Australia politicians chose to save the Americans instead of their own.
Seems like a red flag that our current ways of paving success based on growth is not working. Can we not learn a way to live in prosperity, without overpopulation as the only answer to everything?