Property could fall 30%- LOL

Discussion in 'Property Market Economics' started by Ummm, 14th May, 2020.

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What's your prediction

  1. The only way is up

    21 vote(s)
    12.7%
  2. 12month plateau then boom

    81 vote(s)
    48.8%
  3. 24 month slow grind up then mega boom

    56 vote(s)
    33.7%
  4. 6 week doldrums and then Super mega boom

    8 vote(s)
    4.8%
  1. spludgey

    spludgey Well-Known Member

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    What a useless poll!
    Can I report a post for lack of quality?
    Though on second thoughts, I hope not, otherwise there might be a lot of reports against me...
     
    Jello_B, Empire, MTR and 5 others like this.
  2. Peter2013

    Peter2013 Well-Known Member

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    Spot on. Plus record household debt levels. Couple the two together, and you have quite a time bomb - as Matt Comyn knows.

    Christopher Joye is just a spruiker with a lot in the game to lose.
     
    Last edited: 16th May, 2020
  3. Mark F

    Mark F Well-Known Member

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    It may if Scotty takes an axe to the public service to re-balance the budget like Howard did in 1995. At the time I bought a nice house in Reid for $250k - at least 30% down from 12 months earlier.
     
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  4. Just_A_Name

    Just_A_Name Well-Known Member

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    If someone want to be right, predict more.

    Then he or she will be right, eventually. Just like Harry Dent.
     
  5. John_BridgeToBricks

    John_BridgeToBricks Buyer's Agent Business Member

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    Even a broken clock is right twice per day....
     
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  6. albanga

    albanga Well-Known Member

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    Not if it’s broken because one of its hands has fallen off.... :p
     
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  7. The Y-man

    The Y-man Moderator Staff Member

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    Or it's a digital and the face is blank.....

    The Y-man
     
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  8. Melbourne_guy

    Melbourne_guy Well-Known Member

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    Even with a single hand it'll be right at exactly 12am/pm and again at 6.30am/pm...thats 4 times a day :p
     
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  9. Cia

    Cia Well-Known Member

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    Good get - especially if you still have it. Strangely, I was actually living in Elimatta St Reid in 1995, and was a public servant (of course).
     
  10. Property Baron

    Property Baron Well-Known Member

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    If property market is dumped 30% as Matt suggest??
    Then maybe a lot of people will sell there homes even now at a loss, they still have there current commbank loan to pay. This doesn't effect Matt negatively.
    Then a new lot of buyers through commbank will take out new loans to buy these houses, This does effect Matt positively.
    Seems win win for Matt
     
  11. Bentley

    Bentley Well-Known Member

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    From REIA rubbishes 30% property price drop forecast

    REIA rubbishes 30% property price drop forecast


    The Real Estate Institute of Australia (REIA) has shot down suggestions that property prices could fall by 30 per cent, calling such a prediction “highly questionable” and unable to be relied upon “with any degree of confidence”.

    A statement from the institute’s president, Adrian Kelly, said: “We are in unprecedented times and anyone that suggests they can forecast with any acceptable degree of probability is being highly fanciful.

    ... Read rest of article here
     
  12. Property Baron

    Property Baron Well-Known Member

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    Last edited by a moderator: 22nd May, 2020
  13. Shawn

    Shawn Well-Known Member

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    I highly doubt migration would be over.

    As we have proven you can stop the spread of COVID-19 by employing a government imposed quarantine in our hotels for 14 days.

    Therefore any new entrants (migrants, 457 visaholders, etc) can come into the country simply by undergoing a 14 day taxpayer-funded holiday in a hotel room before they are released into the economic ecosystem.

    Once their in, they are embedded within our society - until a vaccine is made available.

    There are also COVID-19 tests that can be run on these new arrivals within results delivered in a matter of hours. I am optimistic, especially as the economy goes back to normal that everything will be fine.
     
    frankjeager likes this.
  14. Property Baron

    Property Baron Well-Known Member

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    Thats why I said over as we know it. I'm optimistic too but I still believe no vaccine will have a negative impact on migration. How long will the taxpayer keep fitting the bill for these things and if it were that easy why have we cancelled inter travel for now, lets just take them in with a simple test and 14days quarantine. Have to consider the rental market as well, not to many tourist going to pay big $ to fly here and sit in quarantine for 2 weeks before they start there holidays.
     
  15. Jezzah

    Jezzah Well-Known Member

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    Lol, "don't listen to forecasts" (not that it was one), "listen to my forecasts".

    reminds me of this classic Tim and Eric bit.
     
    Last edited by a moderator: 22nd May, 2020
    Empire and Biggbird like this.
  16. Buynow

    Buynow Well-Known Member

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    But then they can’t return “home” to see family without going through it again, potentially twice if the home country also requires quarantine. Not sure many will move
     
  17. DueDiligence

    DueDiligence Well-Known Member

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    Because the counter party risk sits with the government, of course they’ll take that deal.

    They did it right through the GFC , the Royal commish outcomes are off the table.... the FCS bailout will kick in if needed, FHLDS takes risk ownership... all things in their favour, as usual.

    And I forgot to add , the mother off bailouts, the RBA just goes directly into the RMBS.
     
    Last edited: 23rd May, 2020
  18. Angel

    Angel Well-Known Member

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    I believe that people will always want to migrate to Australia. I suggest they pay for their own quarantine when they arrive as part of the visa fee. Problem solved. It may be a while before tourists come back, but migration will always be open.
     
  19. Property Baron

    Property Baron Well-Known Member

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    They certainly will always want to migrate here thats for sure,never a question of that. When do you think our government will bravely open up international travel, any time soon? and will this include from China..
     
  20. K974

    K974 Well-Known Member

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    Whilst we are all so lucky they were brave enough to close borders they have now backed themselves into a corner , it’s a huge gamble a vaccine will be found , they are delusional talking about closed borders until 2021 and 2023 and now they have created the biggest political issue of all time trying to sell the reopening before a vaccine has been created

    a no win situation for the government
     

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