Australia housing bubble

[pottery beige]

hes busy

off drinking coffee and lazing around the beach

cos other people are lazy

[TEZG]

Originally Posted by PG2

I read somewhere recently that for every cup of coffee you buy from a cafe it adds another 16 minutes onto your mortgage.

I'll make you a good one for nothing, help keep that nasty bubble from going kaboom.

[.:4:.]

Originally Posted by PG2

I read somewhere recently that for every cup of coffee you buy from a cafe it adds another 16 minutes onto your mortgage.

I just had a thought. If no one buys a coffee then don't the people in coffee shops not have a job then have an even harder time trying to even afford accommodation let alone buy a house? The consumer economy is pretty complicated. If everyone was a thinker and there are no people to do the labour then how does anything get done? We can't all be in finance. My job involves both thinking and getting it done. Some people relegate themselves to being told what to do, and others get into positions to tell people what to do. I'm buying the boys coffees tomorrow when I rock up to work. It's probably going to put an hour onto my mortgage but it will be motorvation for the boys.

[Franco Cozzo]

I live in the country and it blows, its not even that cheap to buy out here either

I had an automotive workshop in a town with 8000 people and 7 other automotive workshops as competitors.

These days I work in Melbourne, do less and get paid more and I don't have to drive 25km to get a decent breakfast and coffee in the next town on a Friday!

[CoupeKing]

Originally Posted by Franco Cozzo

I live in the country and it blows

I had an automotive workshop in a town with 8000 people and 7 other automotive workshops as competitors.

These days I work in Melbourne, do less and get paid more and I don't have to drive 25km to get a decent breakfast and coffee in the next town on a Friday!

Yeah but at least you got slabs and slabs of beer at the end of the year and all your rivals got were cans of pea and ham soup and herpes.


Hahaha don't laugh some people spend quite a bit of money going out and having coffee - granted it's cheaper than smokes,booze and take-away food.

Coffee is the 2nd biggest (or was) traded commodity - those small shops and coffee trucks that make a good coffee generate a lot more money that would surprise most, and from just coffee alone.

You blokes are the worst, always derailing the thread, I never do that.

[Franco Cozzo]

Originally Posted by CoupeKing

Yeah but at least you got slabs and slabs of beer at the end of the year and all your rivals got were cans of pea and ham soup and herpes.


Hahaha don't laugh some people spend quite a bit of money going out and having coffee - granted it's cheaper than smokes,booze and take-away food.

Coffee is the 2nd biggest (or was) traded commodity - those small shops and coffee trucks that make a good coffee generate a lot more money that would surprise most, and from just coffee alone.

You blokes are the worst, always derailing the thread, I never do that.

Melbourne has a mad 'street food' scene, there is this Souvlaki van out in Airport West on Matthews Avenue that has lines out the front at all hours they're open and its good stuff, its all cooked on hot coals.

Even bloody Sunbury has a kebab van these days and it attracts everyone like moths to a light at midnight

If I was going to go back to being self employed it'd be an attempt at a coffee van/food truck combo thing, imagine Franco's Pizza/Pasta/Coffee or something

[MITCHAY]

Well hasn't this thread had quite a bit of traffic lately. I have finally moved into my place after getting new carpet and paint and it has been pure bliss.

So glad to be off that train looking for a place

[pottery beige]

Originally Posted by MITCHAY

Well hasn't this thread had quite a bit of traffic lately. I have finally moved into my place after getting new carpet and paint and it has been pure bliss.

So glad to be off that train looking for a place

congrats bud

[MITCHAY]

Originally Posted by pottery beige

congrats bud

Cheers mate. I just have to wait a bit until I get my blockout curtains and blinds installed and it will look amazing

[Sox]

Originally Posted by PG2

Only woolworths lite white for me. I only work 38 hours per week, it's all I can afford.

Lite milk is just watered down normal milk.

Originally Posted by mcflux

I missed out on an overtime shift today, looks like I'm having my coffee* black this week

* International Roast instant decaf

IR is tits moite...



The major cities are crazy $$ and crap to live in anyhow.
You don't have to live in the country to get cheap housing, I'm on the outskirts of a major city and have the best of both worlds.
Close enough to good paid work and cheapish property (acreage to boot!).

I would move to the country in a hearbeat though, Broken Hill is nice, as is Alice Springs.
Some of the very remote rural towns are also very cool.

[roKWiz]

Originally Posted by Sox

The major cities are crazy $$ and crap to live in anyhow.

Walked past some hovel slum in Sydney's inner west yesterday, filthy dump under a flight path. Couldn't park a gogo mobile in the drive.
For Sale 1.3m. This is what people aspire to ?

but it had a coffee shop round the corner.

[Beastie]

Originally Posted by Sox

Lite milk is just watered down normal milk.



IR is tits moite...



The major cities are crazy $$ and crap to live in anyhow.
You don't have to live in the country to get cheap housing, I'm on the outskirts of a major city and have the best of both worlds.
Close enough to good paid work and cheapish property (acreage to boot!).

I would move to the country in a hearbeat though, Broken Hill is nice, as is Alice Springs.
Some of the very remote rural towns are also very cool.

[TEZG]

Originally Posted by Sox

Lite milk is just watered down normal milk.



IR is tits moite...



The major cities are crazy $$ and crap to live in anyhow.
You don't have to live in the country to get cheap housing, I'm on the outskirts of a major city and have the best of both worlds.
Close enough to good paid work and cheapish property (acreage to boot!).

I would move to the country in a hearbeat though, Broken Hill is nice, as is Alice Springs.
Some of the very remote rural towns are also very cool.

Mate of mine just moved to Broken Hill, bought a house after being there for a month, 70k, just rewired, new roof, double garage, no palace but just right for him, laughing.

https://www.brisbanetimes.com.au/mon...22-gyn6vs.html

Imagine paying nearly $50,000 a year in council rates on top of mortgage repayments for properties that no one wants to rent.

That's the position that real estate agent and investor, Bella Exposito finds herself in after going all in and buying up 19 properties in the Queensland mining town of Moranbah.

"About 70 per cent of my wages is going out on mortgage repayments, and rates are on top of that cost. It makes me feel sick and very angry," she says.

In 1995, the median house price in Moranbah was only $13,000 and it peaked at a whopping $580,000 in late-2012. Since then property values have nearly halved.

Homes that were once fetching as much as $4000 a week, are now lucky to be tenanted for $500 a week.

For some time now Bella has been a vocal critic of the property downturn in the Queensland mining town of Moranbah, which she blames on the Labor Government under Anna Bligh, approving fly-in-fly out workers.

"Before miners would settle in the local area, but now 70 per cent are opting to fly in and fly out, and they are not even coming into town to shop with buses taking them from the airport to work, and back again.

Wow, what a nerve.
She buys up a whole bunch of housing when it's dirt cheap, planning on being able to take advantage of the $4000/week rent costs and is now "all sick and very angry" because the mining boom has passed and noone wants her properties anymore. She contributed to the cause of the inflated prices and is now cracking the sads that the prices have come back down.

Sounds like just desserts to me. Especially with her being a real estate agent, I bet she grabbed those properties for herself before even advertising them as on the market.

[danzvtil]

Originally Posted by leesa

https://www.brisbanetimes.com.au/mon...22-gyn6vs.html



Wow, what a nerve.
She buys up a whole bunch of housing when it's dirt cheap, planning on being able to take advantage of the $4000/week rent costs and is now "all sick and very angry" because the mining boom has passed and noone wants her properties anymore. She contributed to the cause of the inflated prices and is now cracking the sads that the prices have come back down.

Sounds like just desserts to me. Especially with her being a real estate agent, I bet she grabbed those properties for herself before even advertising them as on the market.

Agree, this Bella chick didn't take her own advice about not putting her eggs in one basket, she speculated and lost, that's the risk we all take when buying any property.

[mcflux]

It's not City Milk unless it's 2am permeate-free single-origin barista (the milk AND the barista are single-origin) A2-activated mochafrappeccino drone-delivered by Jörg, an Uber-Eats / Red Bull champion drone pilot.

Now with Vitamin-R

[Bossxr8]

I've just put down a deposit on a house and land package. Luckily it's very close to where I grew up in a middle class suburb in Geelong, so it's affordable. If I was buying the same house and land in Melbourne it would probably cost double.

Demand for housing down here is increasing rapidly as people have been priced out of the market in Melbourne and people are starting to realise it's only an hour to Melbourne from here, which is probably quicker than it is for some people in the outer suburbs of Melbourne who have to battle traffic jams every day.

Luckily I hate avo so I can afford a new house.

[MITCHAY]

I want my ****ing curtains so I can sleep in. It's driving me nuts

[roKWiz]

Originally Posted by MITCHAY

I want my ****ing curtains so I can sleep in. It's driving me nuts

Your not on Northbourne Ave are you ?

[olfella]

Originally Posted by MITCHAY

I want my ****ing curtains so I can sleep in. It's driving me nuts

Daylight saving soon and they will fade. Best hold off till around November

[mr smith]

Better to have no kids.

[.:4:.]

Originally Posted by mr smith

Better to have no kids.

You're probably right. I'm in the same boat as bent_8. Had my kid at 22, bought a house in Sydney at 25. I had to and still have to do the work to maintain the income, but should be able to kick back to a degree in my 40s. I'm 30 now.

[BENT_8]

Originally Posted by mr smith

Better to have no kids.

Maybe, but at the same time, no kids now, no first home buyers in 25yrs...

That's not how a Ponzi succeeds.

[zipping]

https://twitter.com/NinjaEconomics/s...30612115124224

[Syndrome]

What is happening in 2018?

[GO FURTHER]

Originally Posted by Syndrome

What is happening in 2018?

Nothing will happen in 2018, prices on housing will stabilize a little but nothing dramatic.

The property market operates in cycles lasting on average 18 years.

The cycle is divided into 3 phases;

• Years 1 to 7 is the recovery phase
  
• Years 7 to 14 is the explosive growth phase
  
• Years 14 to 18 are the recession phase.

The GFC started in 2007... So in 2018, we are in year 11, and still on the upward cycle.

Interest rates will start to rise in 2019 - 2020, and cool the level of growth a little.

House prices will again start to fall in 2021 or another 3 years and will continue to fall for 4 years, till the 18 year cycle starts all over again.

[mr smith]

Bubble deflating..…banking royal commission will claim some scalps. I alread know of one person forced to sell in Melb as the banks called in the interest only loans.

[asagaai]

Originally Posted by mr smith

Bubble deflating..…banking royal commission will claim some scalps. I alread know of one person forced to sell in Melb as the banks called in the interest only loans.

Hmm- my brother is in Melbourne. We climbed together as a team when younger. Told me he planned to retire by 40 and then go climbing around the world.

I was never that together and just struggled holding down my job and keeping sanity and head above water.

Years ago in late 20's my brother commenced investment property investing- interest only, leveraged to eyeballs. Leveraged against his family home. Invested in some good properties in Melbourne and wider afield.

Banks called in the mortgages this year- sold the good Melbourne Coburg investment property to pay off the other mortgages which were in the red.

He is 50, managed to keep the family home in Melbourne but is now saddled with a sizeable mortgage-so much for his plans to be retired by 40.


Wonder how many other stories there are like this happening/about to happen....

[mr smith]

Originally Posted by asagaai

Hmm- my brother is in Melbourne. We climbed together as a team when younger. Told me he planned to retire by 40 and then go climbing around the world.

I was never that together and just struggled holding down my job and keeping sanity and head above water.

Years ago in late 20's my brother commenced investment property investing- interest only, leveraged to eyeballs. Leveraged against his family home. Invested in some good properties in Melbourne and wider afield.

Banks called in the mortgages this year- sold the good Melbourne Coburg investment property to pay off the other mortgages which were in the red.

He is 50, managed to keep the family home in Melbourne but is now saddled with a sizeable mortgage-so much for his plans to be retired by 40.


Wonder how many other stories there are like this happening/about to happen....

I think more than people are letting on, I have had a few honest discussions with friends who have invested in property and the current returns are just not there. Many are looking to cash in and are getting nervous. Interst only has been a massive mistake, like the old europeans told me when I started work, make sure you own your home and dont play around with it.

[asagaai]

Originally Posted by mr smith

Interst only has been a massive mistake, like the old europeans told me when I started work, make sure you own your home and dont play around with it.

I have done work for a number of those old Europeans who came to Australia with nothing, from countries with limited employment and desperate living conditions.

They came here young-ie 17-21 -often by themselves-and worked their ****s off- in menial jobs and doing what they could to get better paid jobs-because all they had known was insecurity- and they wanted security above all else- and their first aim was to buy out a home outright.

A lot of youth and man-woman childs in Australia are leading very sheltered privileged cushioned lives living at home and those not wise and perceptive do not realise how hard life will be for them in the future and just laze about. The wise ones realise life will be very hard and push themselves hard to set themselves up.

I state this based on my household- I have 1 child in both camp.