Every bubble in history had the same level of spruiking going on right before the bubble ended up bursting. Just because some so-called expert claims something doesn't mean its true. There is a very high chance of a global recession hitting next year, no matter how many migrants you bring in, if there isn't enough economic activity i.e. jobs to go around to support the massive bubble in the Property market, the market will enivatbly crash, especially under the weight of higher interest rates.
no it won't. noodle that was $7 10 years ago now $17. house $700k 10 years ago, should be around $1.7m. but many places in capital cities, it did not catch up to that level. House price has not risen as much as noodle soup price growth rate. house price will eventually go up a lot soon. it's simply a result of inflation.
@@rubyduby2656 The migrants I work with generally have more than enough for a home in the areas they want to live in. Migration seems to be the main factor in the soaring population. I would agree that the government does need to figure out how to help local Australians.
@TheJoccara its not the price of property itsthe wages that have not increased. If noodle has gone from $7 to $17 the income should also have gone from 70k to 170k for the same job. This is the problem. If wages would have increased property prices not a problem.
Lots of factors in play, will be interesting to see how and when the supply issue is resolved. Another factor to consider is the chance of gloomy days ahead for the global economies. At the end of the day, prices can only go up as long as there is a sufficient supply of people who can afford it. The higher prices have forced many people to consider options they would have never considered before, such as house sharing or living in mobile homes. As people get more creative with these alternate livings, it will also reduce demand to some degree.
Went to an auction on weekend. One thing that was fishy for me was the place was owned by the agent. It had not cleared probate yet and had a settlement of 18 weeks. Agents are in the know with talking to people and financial advisors. He knows more. This is so wrong. They are only doing a video on the aspect of limited supply and not taking into account -- speaking up prices but then forgetting talking about the mortgage stress. Currently there is no stock.
This is what happen when we pit people who want to buy primary needs (roof above their head) against investors who just want to grow their portfolio. It's like having a boxing match in the park between picnic goer (first home buyer) and professional boxer (investor). Not gonna end well for one side.
Supply will burst their yields....and insurance and strata fees are increasing. Then there's Land Tax and the Purpose of Super Inquiry. They are being hung drawn and quartered without removing negative gearing. They will also be made to pay for their aged care. Overdue, but now we chase down those who have had a pretty good last 20 years off the taxpayer BANKROLLING their goodtimes
Wait. No this is t right. Have you been looking at what’s coming up for sale? Lots of what people bought in peak 2021 and now reselling. Also there is no stock. Wait for spring.
Hence the mass immigration......immigrants need housing NOW. Babies at least can wait 18 years. thats why the housing demand will never stop. prices will never crash.
Up to at least 63 years of property price crash predictions now. One day the prophets will be correct. There are some real estate waste lands in the USA. After the last iron ore price crash Western Australian house prices took a hit and have only limped back. While we keep importing truck drivers, coffee makers and Uber drivers nothing will change except the number of Nike clad motorcyclists.
😂 in that 63 years there have been many boom and bust cycles mate haha have you been living under a rock? When the markets crash do you really think they will never bounce back? Last year property prices crashed well in excess of -20% that’s the definition of a crash
@@Andrew-hu1bx In the main the booms have been huge and the busts just a minor pullback. In 1929 there was a proper bust. It took until 1946 to get your money back. If someone bought in 1933 they did quite well, quite quickly. In Sydney a 10% pullback off the absolute peak of a boom is very standard. No 20% pullback where I live. In very small regional markets there can be severe pullbacks in the prices of what is mainly orphan real estate.
Australia should look at whats happening in Canada and learn. Eactly Same thing will happen. Exactly same policy in play. Migrants are now leaving CA and going back as condition social and economic have gone worse than developing countries.
@mushy111 in both countries property has gone up but not the wages. If wages go up as well then no problem. Eg. In Ind last 5 yrs property has gone up 3 times, but wages have increased 5 times (good policy by Modi govt) so no one actually cares about prices going up.
The situation in India isn't relevant here. It's one of the most unequal countries in the world. Comparing impoverished, developing countries to advanced economies is entirely irrelevant. India is coming from an extremely low wage base, but the vast majority of people still couldn't afford to buy in Mumbai. Whereas Australia still has higher wages than Canada and two-thirds of the population as property owners in the large cities. Australia's population is rapidly increasing due to migration, and this is one of the principle reasons for accelerated house price growth.
@mushy111 i knew u would say that. U should go to ind now. Its not the same. From where do u think the Au govt is wanting the cash strapped rich migrants to come from to save the Au economy? Maximun intake is ind. The main issue is that wages need to increase and if wages house prices is no problem.
I've been to India many times, last year included. Do you think if people visit they'll suddenly be in awe at it's development? No, it's still laregly impoverished in comparison to advanced economies, and the fact is it's one of the most unequal societies on the planet. Stop talking about India, it's irrelevant. India is one of the countries that sends thousands of students to Australia every year to gain an education in a first world country. They are included in the immigration numbers, which is why the numbers for India are inflated. But it seems you're one of those Indian nationalists that believe India is the best and most developed and advanced country in the world regardless of how inaccurate it is. Also FYI "cash strapped" in means poor.
More demand than surply, 400 thousand new homeless,1 million empty homes at census,,, solving shortage new buyers will be forced to sell or foreclosure
Now that rates have peaked the dominant asian buyers have woken from their slumber and are snapping up everything. Thse people do not have budgets. I suggest you buy now as 10% price upswing is expected by 2024.
Have you learnt nothing over the last 3 years? Or ever looked back at history Where did you get that wrong information about property prices rising 😂 it’s not going to be the case
experts are also buying when they say crash
Every bubble in history had the same level of spruiking going on right before the bubble ended up bursting. Just because some so-called expert claims something doesn't mean its true. There is a very high chance of a global recession hitting next year, no matter how many migrants you bring in, if there isn't enough economic activity i.e. jobs to go around to support the massive bubble in the Property market, the market will enivatbly crash, especially under the weight of higher interest rates.
No it won't. Sydney has a soaring population
A soaring population doesn't mean they can afford housing. People will live in cars.
no it won't. noodle that was $7 10 years ago now $17. house $700k 10 years ago, should be around $1.7m. but many places in capital cities, it did not catch up to that level. House price has not risen as much as noodle soup price growth rate. house price will eventually go up a lot soon. it's simply a result of inflation.
@@rubyduby2656 The migrants I work with generally have more than enough for a home in the areas they want to live in. Migration seems to be the main factor in the soaring population. I would agree that the government does need to figure out how to help local Australians.
@TheJoccara its not the price of property itsthe wages that have not increased. If noodle has gone from $7 to $17 the income should also have gone from 70k to 170k for the same job. This is the problem. If wages would have increased property prices not a problem.
Lots of factors in play, will be interesting to see how and when the supply issue is resolved. Another factor to consider is the chance of gloomy days ahead for the global economies. At the end of the day, prices can only go up as long as there is a sufficient supply of people who can afford it. The higher prices have forced many people to consider options they would have never considered before, such as house sharing or living in mobile homes. As people get more creative with these alternate livings, it will also reduce demand to some degree.
Went to an auction on weekend. One thing that was fishy for me was the place was owned by the agent. It had not cleared probate yet and had a settlement of 18 weeks. Agents are in the know with talking to people and financial advisors. He knows more. This is so wrong. They are only doing a video on the aspect of limited supply and not taking into account -- speaking up prices but then forgetting talking about the mortgage stress. Currently there is no stock.
0:33 congratulations sir, you've just bought an overpriced dump
Bowen wants to put a tarrif on imported steel ,cement, aluminium . Thought we had a building supply problem!
Real estate agents are funny federal lending rates were suppressed to near zero levels since 2009. Its not supposed to work like that.
Thank god, house prices are still rising. Thanks Albo!
"Goodbye middle class" Pon Zinvestor
im sure they will cut rates to maximize higher speculation soon.
Didn't they say they were holding it at 4.1%?
@leonie563 I wouldn't hold my breath on a central banks word.
So basically everything is overpriced and there isn't enough to go around. Shocker. Greed is clearly not good and nothing is trickling down.
That's modern Australia for you sadly - rich people need only apply 😢
Mega rich
This is what happen when we pit people who want to buy primary needs (roof above their head) against investors who just want to grow their portfolio.
It's like having a boxing match in the park between picnic goer (first home buyer) and professional boxer (investor). Not gonna end well for one side.
Supply will burst their yields....and insurance and strata fees are increasing. Then there's Land Tax and the Purpose of Super Inquiry. They are being hung drawn and quartered without removing negative gearing. They will also be made to pay for their aged care. Overdue, but now we chase down those who have had a pretty good last 20 years off the taxpayer BANKROLLING their goodtimes
Hate to break it to you buddy, but switching off the hot water will result in there being no more hot water the next time you want some.
Who tf is buying and how ?
That's what I'm saying lmao 🤣
Wait. No this is t right. Have you been looking at what’s coming up for sale? Lots of what people bought in peak 2021 and now reselling. Also there is no stock. Wait for spring.
And with these costs plus HECs, sensible couples cannot afford babies.
That's why we have a baby drought.....yes been going on entire millennial generation 50.01% single childless over 30 these days...
Hence the mass immigration......immigrants need housing NOW. Babies at least can wait 18 years. thats why the housing demand will never stop. prices will never crash.
That's why we're importing them. Not babies, adults, so we don't need to spend money for schooling and they can get to work immediately and pay taxes.
It is all driven by greed.. well around the world is same happening.
Fattening up the pigs for market....aged care reform is next and it's overdue as redistribution of wealth....
How so?
Lucky we have mega rich immigrants coming in to keep the property bubble going.....also to help the rental crisis.....
I hope that’s sarcastic because they are not mega rich at all
Up to at least 63 years of property price crash predictions now. One day the prophets will be correct. There are some real estate waste lands in the USA. After the last iron ore price crash Western Australian house prices took a hit and have only limped back. While we keep importing truck drivers, coffee makers and Uber drivers nothing will change except the number of Nike clad motorcyclists.
😂 in that 63 years there have been many boom and bust cycles mate haha have you been living under a rock?
When the markets crash do you really think they will never bounce back? Last year property prices crashed well in excess of -20% that’s the definition of a crash
@@Andrew-hu1bx In the main the booms have been huge and the busts just a minor pullback. In 1929 there was a proper bust. It took until 1946 to get your money back. If someone bought in 1933 they did quite well, quite quickly. In Sydney a 10% pullback off the absolute peak of a boom is very standard. No 20% pullback where I live. In very small regional markets there can be severe pullbacks in the prices of what is mainly orphan real estate.
No mention of the record low numbers of properties on the market????
Australia should look at whats happening in Canada and learn. Eactly Same thing will happen. Exactly same policy in play. Migrants are now leaving CA and going back as condition social and economic have gone worse than developing countries.
Australian property prices have been higher than Canada for some time.
@mushy111 in both countries property has gone up but not the wages. If wages go up as well then no problem. Eg. In Ind last 5 yrs property has gone up 3 times, but wages have increased 5 times (good policy by Modi govt) so no one actually cares about prices going up.
The situation in India isn't relevant here. It's one of the most unequal countries in the world. Comparing impoverished, developing countries to advanced economies is entirely irrelevant. India is coming from an extremely low wage base, but the vast majority of people still couldn't afford to buy in Mumbai. Whereas Australia still has higher wages than Canada and two-thirds of the population as property owners in the large cities.
Australia's population is rapidly increasing due to migration, and this is one of the principle reasons for accelerated house price growth.
@mushy111 i knew u would say that. U should go to ind now. Its not the same. From where do u think the Au govt is wanting the cash strapped rich migrants to come from to save the Au economy? Maximun intake is ind. The main issue is that wages need to increase and if wages house prices is no problem.
I've been to India many times, last year included. Do you think if people visit they'll suddenly be in awe at it's development? No, it's still laregly impoverished in comparison to advanced economies, and the fact is it's one of the most unequal societies on the planet. Stop talking about India, it's irrelevant.
India is one of the countries that sends thousands of students to Australia every year to gain an education in a first world country. They are included in the immigration numbers, which is why the numbers for India are inflated.
But it seems you're one of those Indian nationalists that believe India is the best and most developed and advanced country in the world regardless of how inaccurate it is.
Also FYI "cash strapped" in means poor.
Panic buying into any investment is a bad idea
Fearmongers. Get a grip.
More demand than surply, 400 thousand new homeless,1 million empty homes at census,,, solving shortage new buyers will be forced to sell or foreclosure
Maybe enough room for a sub-division or granny flat? Tenants need a home too; that means an investor has to buy.
Yep! too many "EXPERTS", (in all facets in life! ;)
Now that rates have peaked the dominant asian buyers have woken from their slumber and are snapping up everything. Thse people do not have budgets. I suggest you buy now as 10% price upswing is expected by 2024.
Have you learnt nothing over the last 3 years? Or ever looked back at history
Where did you get that wrong information about property prices rising 😂 it’s not going to be the case
"COULD" 😆 not even the person who made this headline is convinced 😂😂
It will all crash .. pressure pressure pressure . Only a bloody house . Priorities are all wrong .
So yeah ya can buy a cheap house out in the middle of nowhere that needs a bulldozer😉
Idiocy
Economists 🙄
PROJECT is news for people with gummybears for brains 🧠
The sky is truly the limit 😂
Thts not living
😂😂😂
Propaganda bubble is popping
100% and look at how desperate they are to prop prices up again ahahahaha