Coronavirus and property values

As an owner of a massage parlour I have a conflict of interest. However, I would have preferred for the government to put a lock down on senior citizens and people with pre-existing health conditions instead of ruining half the economy. The worst part about these regulations is that there are no time-frames and the uncertainty involved. I have no confidence to take out a loan because loans need to be repaid. Businesses of all sorts are in the same predicament. At this stage I'll be laying off all my employees until further notice.

 

While the business aspects are certainly concerning, it looks like you may not be grasping the seriousness of the health consequences of this virus. I have a couple of friends in Europe, both in their 30s who have had the virus. One was down for 5 days straight with constant 40 degrees fever, the other down for 8 days with 40 degrees fever. We're talking young, healthy adults. Much worse for older people.
Health comes first in this extreme situation. If we let this rip through the population at large, it's going to cost a lot of lives.

 

Well maybe if they had done a better job in the first place , we would not be in this situation.
They left the door wide open for virus carriers to enter the country through the U.S , they also seamed to be in complete denial about the virus in the U.S.
We slammed the door pretty quickly on China , in a heartbeat with Iran , then the wheels started to fall off, South Korea took a while, Italy just dragged along and our leaders were so far up the Americans , we never saw it coming.
How much money do we spend on these new super agencies that Peter Dutton set up, Border Security and immigration were not even capable of measuring peoples temperatures as they entered the country .
Its not like they were super busy, as 15%(The Chinese) were no longer arriving

 

very comforting, hope markets stay strong

 

I actually see this as a positive development. It's like a 'Pause' button being hit. Price should stagnate now that banks are allowing a mortgage repayment pause as well.

 

I’d say a couple of million people unemployed and banned open homes isn’t going to result in “some flat prices”

 

I got enough email and text messages from agent for private inspection..It doesn’t impact at all. All bull herd would stop from buying without knowing what is going on around them..

 

Take the temp gun and a mask!

Godspeed!

 

Oh retailers are monumentally ****ed this time. The restaurants are relatively ok. Poor guys retailers

 

Just to add to this a bit more...in my search criteria, since the weekend and before the ban, there are more properties being advertised with an EOI and a closing date. Looks to me like a fishing expedition by owners who a month ago were preparing to sell-up expecting top dollar who are now looking down the barrel of a gun and wanting a rapid exit whilst some value remains.

 

Anyone who can hold will. Anyone who cant will have to dump it. I expect most sales therefore to be discounted. Who in their right mind would sell and take a haircut If they don’t have to.

This is 1918 & 1929 together. When in history have people stood outside exposed to a virus lined up for a government handout.

This will be referenced in textbooks.

 

Of course they wouldn't sell if they didn't have too, that wasn't the point of my post. The point was the change in selling methods now prevailing shows more and more people are wanting out but haven't quite got the balls to take less than the previous market prices - they want to gamble that things will go back to 'normal' after this crisis is over.

 

Having the “balls” is irrelevant if you lose your income.

 

You don’t own property do you @Melbourne_guy ?

 

50 k cases by mid April, that’s 1500 out of the 2200 ICU beds.

How many ppl will be buying property in the next 8 weeks. Everyone should be inside unless working in a hospital.

 

...and your point is?

 

Brisbane’s real estate sector holds steady: Herron Todd White

 

What’s the point of this?

This is a week old, unemployment has tripled since this article was written.

 

If anything, it's a record of how media sentiment will change as articles are posted.

Just because an article is posted, doesn't mean it's a message of buy buy buy. Or sell sell sell. You can draw whatever you want to from what is posted.

 

It'll be interesting to see how fast the media pick up on the scale of job losses. I feel like they're barely aware of what's going on. To put it in perspective California just had 1 million new people apply for unemployment benefits in 12 days. That's over 5% of their total workforce in under 2 weeks.