Join Australia's most dynamic and respected property investment community

Australia six weeks from a housing collapse, US report warns

Discussion in 'General Property Chat' started by Propertunity, 12th Sep, 2016.

  1. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

    Joined:
    19th Jun, 2015
    Posts:
    1,224
    Location:
    NSW
    Six weeks to prevent a housing collapse

    It must be a slow news day :rolleyes:. Let me mark the calendar for 6 week's time. :p

    I'm inclined to agree with NAB chief economist Alan Oster who described the ISSA’s prediction of an imminent collapse as “garbage”, adding that the CLSA report was “very poor analysis”.:
     
    MsAli, Perthguy and JacM like this.
  2. House

    House Well-Known Member Premium Member

    Joined:
    13th Sep, 2015
    Posts:
    767
    Location:
    Sydney
    The CLSA "report" was a shocker.

    No figures whatsoever on anything- apartment approvals, vacancy rates, failed settlement rates, expected percentage crash etc. They don't even bother to separate the cap cities, any apartment market could fall... :rolleyes:
     
    G TOWN likes this.
  3. JacM

    JacM VIC Buyer's Agent Business Member

    Joined:
    12th Jul, 2015
    Posts:
    1,106
    Location:
    Melbourne, Australia
    Superb... This must mean people will sell their homes for 20cents for no apparent reason. Shopping spree imminent... let's bust open the piggy banks !!!
     
  4. dabbler

    dabbler Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,665
    Location:
    Sid en e - olympic city
    Rubbish.
     
    Propertunity likes this.
  5. Kangabanga

    Kangabanga Well-Known Member

    Joined:
    21st Jun, 2015
    Posts:
    246
    Location:
    Brisbane
    NAB chief economist Alan Oster :
    [“To get any sort of problem you’ve really got to have something going wrong in China and then everybody selling their apartments at the same time. If they do that then it’s not an Australian problem, that’s a global problem.”]

    DO we really know whats happening on the ground in China?
    The mayor of their 4th largest city has just been taken in for questioning communist style...
    Mayor’s Discipline Probe Shakes Up China’s Political Chessboard

    [Huang last appeared in public on Friday, when he visited a school and met with a delegation from Taiwan’s Kuomintang opposition, according to the official Tianjin Daily. The city now lacks a party secretary, mayor and public security chief, with the last occupant of the latter position detained in July 2014. So far, Xi’s anti-graft drive has ensnared three top Tianjin officials, including a deputy mayor placed under investigation last month.]


    An interesting thought is if the same thing that happened to Malaysia's 1MDB fund were to happen here. Meaning all the millions of Chinese owned australian assets involved in the web of corruption get seized by the Aussie gov for further investigation by ATO.

    IN any case, housing collapses are usually unexpected, things always look hunky dory until the inevitable happens.
     
  6. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,544
    Location:
    Sydney or NSW or Australia
    Time to get the cash out from under the mattress and buy up big time.
     
    mrdobalina and JacM like this.
  7. Simon L

    Simon L Investment Property Buyers Agent Business Member

    Joined:
    18th Jun, 2015
    Posts:
    184
    Location:
    Sydney, Brisbane
    6 weeks 'til collapse?? Better make sure my building insurances are up to date!
     
    Colin Rice and Bender12 like this.
  8. Player

    Player Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    346
    Location:
    Paradiso
    What time?

    Oh! Wait,of course @6pm:oops:
     
    Christian, MsAli, Leo2413 and 2 others like this.
  9. Ghoti

    Ghoti Well-Known Member

    Joined:
    10th Jun, 2016
    Posts:
    124
    Location:
    Melbourne
    Seems to me that evry couple of weeks some USA think tank predicts the crash of the Aussie property market. Jealousy perhaps?

    As long as unemployment is low the demand for a place to live will remain constant.

    On the other hand, I can peedict with 100% certainty that prooerty prices will moderate during a 6 week period somewhere in the future ;)
     
  10. Ted Varrick

    Ted Varrick Well-Known Member

    Joined:
    21st Jun, 2015
    Posts:
    563
    Location:
    No Mans Land
    Maybe that think tank has been concentrating not enough on getting thinking, and too much on getting tanked, before pressing Send...
     
    Ed Barton likes this.
  11. WallyB66

    WallyB66 Well-Known Member

    Joined:
    5th Dec, 2015
    Posts:
    76
    Location:
    QLD
    Love these predictions- Harry Dent and Steve Keen seem to be the usual offenders. Was in 2nd hand book shop over weekend and saw one of Harry's books predicting RE armageddon for the 5th?? time- informed shop owner it should be in the fiction section- she wasn't amusedo_O
     
    Christian, G TOWN, Magoo and 2 others like this.
  12. larrylarry

    larrylarry Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    3,501
    Location:
    Sydney
    There are some Steve keens on PC too.
     
    MsAli likes this.
  13. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,094
    Location:
    Melbourne, Nationwide
    Bring it on. I've got enough cash that I was starting to think about another property. If the market crashes, I'll make it two!

    Really though, I've got better things to worry about.
     
    JacM likes this.
  14. TMNT

    TMNT Well-Known Member

    Joined:
    23rd Jul, 2015
    Posts:
    1,383
    Location:
    Melbourne
    i always ask say to myself when I read these articles...... ummm who are you, what do you know, and why is it that you only make doom and gloom predictions once in a blue moon

    go away
     
    Propertunity and MsAli like this.
  15. Eric Wu

    Eric Wu Mortgage Broker Business Member

    Joined:
    18th Jun, 2015
    Posts:
    340
    Location:
    Australia
    my cash is ready, is the 6 weeks up yet? can't wait. :rolleyes:;)
     
    JacM and Leo2413 like this.
  16. Perthguy

    Perthguy Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    4,671
    Location:
    Perth
    This is effectively what I did in Perth (except buying 50%). Price in 2014 would have been over $600k but we picked up a great property for under $500k. We held off because we could see prices going down. We are heading towards a good time to buy in Perth. I still think it's too early unless it is an exceptional property.
     
    Colin Rice and Jess Peletier like this.
  17. larrylarry

    larrylarry Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    3,501
    Location:
    Sydney
    When you say perth, are you talking about Perth City or suburbs 15-20km away from the city centre? I always like Murdoch, Kardinya and Winthrop
     
    Perthguy likes this.
  18. Leo2413

    Leo2413 Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    5,718
    Location:
    Sydney
    It's gonna be war buddy :D Get ready for me :p
     
    Eric Wu likes this.
  19. MikeeIv

    MikeeIv Member

    Joined:
    30th May, 2016
    Posts:
    7
    Location:
    NSW
    6 Weeks, hmmm, let's see.. :D :D
     
  20. Perthguy

    Perthguy Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    4,671
    Location:
    Perth
    "Perth" as in the Perth metropolitan area, not the CBD area specifically. Agree Murdoch and Winthrop are great! I don't know Kardinya as much. Those suburbs got very expensive though. Not sure what they are doing now. Prices seem to be down across the board though. I know a lot of people looking for houses now and in popular areas they are selling fast. Last one I found for a mate was under offer in under 24 hours.
     
    Colin Rice and larrylarry like this.