/biz/ - Business & Finance

[Anonymous No.17814936]

Will Australia's property bubble burst soon? Or will low interest rates save it? Basically I'm sitting on some cash waiting for a downturn so I can finally afford my first house.
Is there much lag compared how the stock market behaves, or are we just in uncharted waters here? Is recession imminent?

[Anonymous No.17814951]

there isn't gonna be a crash
at most it might drop 10% max

[Anonymous No.17814953]

Australia's property market was already an overstretched house of cards. If a multi-month shutdown doesn't break it then it means that the people in power won't let it break. So wait and see.

[Anonymous No.17814970]

We will know in a month or so. Make no mistake, the government will do everything they can to protect the wealth of boomers at the expense of everyone else.

[Anonymous No.17814983]

>>17814951
if that means I can get something decent in Melbourne for 600-650k then I can live with that

>>17814953
if it doesn't then i may simple never ever afford a place :(

[Anonymous No.17815003]

>>17814970
>>17814953
this

if the boomers go down, we all go down with it. the government will fight tooth and nail to avoid prices going down(even if that means inflating the fuck out of our already shit tier currency)

https://medium.com/@matt_11659/matt-barrie-australias-economy-is-a-house-of-cards-6877adb3fb2f

[Anonymous No.17815115]

Australia.

[Anonymous No.17815188]

>>17814936
Hahahaha you have to be a dumb cunt to believe that the property market in Australia is going to burst, it might sink for a while but it's trajectory is definitely going to be positive. Property value in the most part is determined by population size. Australia imports roughly 800,000 people (read Indian and Chinese colonists) into this country, and most of our jobs are located in or around or state capitals so we can't just build housing further out indefinitely, and our government is super lazy and retarded when it comes to infrastructure projects. So, no.

[Anonymous No.17815196]

>>17814983
If we take that anon's estimate of 10% that would put the average property price in the low 1 millions, so you're still priced out.

[Anonymous No.17815213]

>>17814936
what bubble?

[Anonymous No.17815229]

>>17815196
during the 2018/2019 downturn there were some decent townhouses that were in the affordable range

>>17815188
>it might sink for a while
great, I'll settle for that

[Anonymous No.17815253]

>>17815229
How are you going to afford it when you are being outcompeted by pajeets and chinks and have your wages supressed by them? Also as chinks and pajeets settle down here they only hire their own. My friend who works for a bank told me how a few years back when an Indian manager got promoted to his current position he started hiring only Indians.

[Anonymous No.17815261]

>>17814936
My dad said this has been going on for yonks, for a number of reasons.
People used to have to save up for a cash deposit when they wanted to buy a second home. Nowadays, banks let you use the equity of your first home as a deposit for your second (which may be illegal i'm not sure) resulting in a sort of ponzi scheme.
Also, our local councils amalgamated into a "super council" back in 2008 I think, so we have a small group of what may as well be spastics approving every terrible commercial and residential plan that gets sent into their office. Our standard of living has degenerated so badly, that "investors" or "groups" can knock down a perfectly good home, build 6 townhouses on the block, and sell them all for the price the home originally costed, while the council lets people do this shit.
some anon please correct me if i'm wrong, I don't know all that much, but what I do know is that I'm sick of what dumb-arses in suits have done to our cities.

[Anonymous No.17815324]

>>17815261
> good home, build 6 townhouses on the block, and sell them all for the price the home originally costed, while the council lets people do this shit.
This infuriates me to no fucking end. No wonder the boomers are importing people from over populated countries like India and China. They're used to being packed in like sardines. This "townhouses" are made out of fucking plywood and only a facade of brick. The distance from the townhouses makes it impossible not to hear your neighbour's take a shit or rip a fart. Again Indians and Chinese don't mind these houses nor do they mind working for below market rate.

[Anonymous No.17815408]

>>17815324
oh mate tell me about it, they're not even built to last. I lived in one for a few months and it had a huge solid timber door about 3 metres tall and 1 1/2 metres wide. One day the guy I was living with's missus was leaving for work and it fell off the hinges and nearly crushed her. We had a look and it was held in by a few 1cm screws. madness

[Anonymous No.17815411]

>>17815261
I work for a council, can confirm 99% of them are fucking retarded and would approve anything as there's no such thing as performance management.

[Anonymous No.17815450]

The last housing bubble took a long fucking while to pop, in fact it only popped with a global recession.

[Anonymous No.17815472]

>>17815261
>>17815324

[Anonymous No.17815487]

>>17815408
i almost paid 670k for a townhouse, but while I was having second thoughts, someone bought it for 711k. Keep in mind there are still body corp fees, I hope it falls apart on them