If you have a mortgage, this is a 60 Minutes you must watch.

Heads up to watch 60 minutes tomorrow night:
https://www.9now.com.au/60-minutes/2018/clip-cjlyvxzrz000a0io9gsfggq8i

 

Hilarious!

No way would I rely on 60 Minutes for accuracy.

 

back in 2011. 60 minutes

 

Lol. scaremongering?

 

A more informative and education experience would be talking to a wall, I cannot stomach the sensationalist journalism, bias and general BS from the program mentioned and it's close friend on a neighbouring channel.
But I'm sure there will be droves of sheep that will take what they see on this as gospel

 

This was actually an interesting set of interviews and captured the effect of unexpected job losses that occurred at that time and the effect of the GFC on ordinary people.

 

Got any more like this? Where’s the ones with Steve Keen calling a 50% crash. That one you posted wasn’t very gloomy.

 

I think clearance rates would be in the 30s if people were taking all the doom and gloom seriously. The MSM has been pumping it out at full bore.

 

57 in Melbourne today off only 1k auctions (I would think 1200-1300+ would be normal)

30% unreported. We “could” be in the 40’s by end of week. So I wouldn’t make too many jokes about 30% clearance. But to be honest, it will all be private sale by that point if we get there.

 

Need a few more of these 60 minutes type segments blasted over national tele to further plunder market sentiment and increased fear.

Then, when real estate appears to be a dead asset ....the next batch of fortune making deals (in the right areas) will be ripe for picking.

 

Yeah 60 minutes.

Reminds me of a rich criminal gang. Go out and organise a kidnapping in a foreign corrupt country. Ooh but when they get busted they just pay bribes to get their journo's and crew out of jail.

Anyone else that was involved is left to languish in jail. 60 minutes have no credibility.

 

Yep monkey see monkey do - people are easily influenced by an authority like the media!

Looks like they've rolled out the big bears for this one

 

What if you rent and this happens?! Should you be worried then?
What if you have a mortgage that's been mostly paid off??
Or an offset account that covers most of your mortgage so you are paying on your mortgage less than you would have to pay for average rent?

This is getting silly...

 

Martin North features, I don't know who the other guy is yet? Is it John Hempton Bronte Capital maybe?

Really surprised of the tone of this one, particularly the future Nine > Fairfax > Domain relationship and all. First and last for 9 this will be.

 

60 minutes, ......

 

Housing prices to plunge by as much as 40 percent


Grey haired bloke seems to be liquidator and insolvency firm Jamieson Loutitt

 

... and all of those bogans who bitched about houses being unaffordable the last few years still won’t buy because property is too risky!!!

OMG!!!!

 

Someone said upthread about clearance rates. In my suburb there were at least15 auctions, 10 have reported, 7 passed in,3 sold at auction, 5 have unreported (assuming these withdrew or passed in - I know of at least one of the unreported ones didn’t sell). That’s 8 out of 11 failed to sell /passed in.

 

Imho corrections/dips etc are an investor's best friend. Ray Dalio says it well , paraphrasing here but when prices of an area become bargain prices relative to historical value and the only reason is because of changed psychology of the market and not because of the underlying asset/area, then its time to buy at undervalued prices.

Coincidently that's when fear is at its peak.

Re ppl complaining about affordability. .well they are forever complainers . They're not serious buyers in the first place. They can't be helped.