Australia six weeks from a housing collapse, US report warns

Six weeks to prevent a housing collapse

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

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”.:

 

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...

 

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 !!!

 

Rubbish.

 

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.

 

Time to get the cash out from under the mattress and buy up big time.

 

6 weeks 'til collapse?? Better make sure my building insurances are up to date!

 

What time?

Oh! Wait,of course @6pm

 

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

 

Maybe that think tank has been concentrating not enough on getting thinking, and too much on getting tanked, before pressing Send...

 

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 amused

 

There are some Steve keens on PC too.

 

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.

 

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

 

my cash is ready, is the 6 weeks up yet? can't wait.

 

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.

 

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

 

It's gonna be war buddy Get ready for me

 

6 Weeks, hmmm, let's see..

 

"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.