in Australia

Lies Are Driving The Housing Boom – Will this lead to a housing market crash?

29 Comments

#HousingCrash #HousingBoom #HeiseSays
Australia’s housing boom is being increasingly driven by investors who are lying on their mortgage applications. Will this lead to the long-awaited housing market crash or is this just another media overreaction?

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Comments

  1. What will crash the market eventually will
    be when people who own a home
    and want to retire realise that $30000
    super invested anywhere at under 3%
    won’t cut the mustard
    Equity must be released from their
    only other asset,their home!
    Then supply will finally exceed demand

  3. haha the prices of houses here are disgusting my grand parents bought a house for 14k that was 2x yearly income my parents could buy one for 50-100k that was 2-4 times yearly income in the same or close area now we are having to pay 1million plus with 0 wage growth at 12-20 times yearly income biggist bubble in history add the real inflaiton rate to that and people have no chance to move close to where they grow up anyone buying a house is insane

  5. Bit funny how apparently, according to this article, no-one said they lied about their super deposit… how convenient… again. Either I, as many, have missed the boat for a home, or we are going to get utterly destroyed when this all comes crashing down.

  6. There's plenty of risky lending, but in a rising market, loans will rarely "fall over" as you put it because if borrowers really get in trouble they can simply sell their houses in a week. Such loans are risky from the borrower's perspective but somewhat less so for the banks.

  12. I don't trust much put out by the ABC as they are one of the biggest liars. Banks lie and are very corrupt as seen by the inability to even find a CEO that hasn't been charge for some corrupt business dealings. Then the real estate market, well, they are also fit into the, I would trust them as far as I could comfortably spit a sewer rat! So I would be more surprised if you said they were not lying.

  27. I got pre approval and then later full approval as a casual Duty Manager at a pub. Took me like a year and a half to get that approval because of lockdowns and the fact Im a casual. Then when we bought a home a month ago we got out of the contract because of a failed building inspection. Now we are buying another home but I am stood down right now. no fault of my own of course and my job will be there when lockdowns start to end.
    Feels kind of dodgy but me and the wife can easily afford the house with emergency payments as long as the government dont pull the pin on those payments and even if they did we have 25k in the bank and I can find work as an essential given a month or so. but its really sad if we get denied we may be completely priced out of Melbourne.

    So I dont feel real good about investors fudging papers but If any first home owners are fudging papers to get into the market in the 3 big cities before they are completely priced out.. well I dont blame them.

  29. The housing market is backed by the government and banks. It would be nice to see an adjustment of the market. But they prefer to do incentives and devalue the australian dollar and revitalise the australian dream, the so called millionaires, however 1 million AU is only 600k euros. So keep on working, pay your debts and the vicious cycle goes on forever.

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