NSW Sydney prices still falling...

No worries I replied to your post around the inner west so thought you would know Rozelle. That house would have been >$2.2M 18 months ago. Inner west is still dropping from my research. Another 10% to go. New property being released in this band of price range, will keep a keen focus on the area.

 

37 Nelson auction this morning passed in. Would have ~$1.8, see how this goes.

 

I think they need to let the downturn ride out. Melbourne and Sydney prices dropping another 10-15% isn’t a bad thing. 105% loans, joking?

 

We’ll see, another 10% down. The FONGO will be very strong for Baby Boomer cohort who have been holding off selling for last 12 months (volumes down 30%)... then who knows what the liberal govt will be trying to pressure the banks to do..

 

What is the motive for the liberal government?

 

Kick the can down the road to avoid a recession. Tighter lending standards and falling house prices encourages people to pay down debt, which is money not spent on consumption. If people are not spending money on consumption it places pressure on the economy. A couple of my friends have small businesses (butchers, kebab shops) and they claim that business conditions are the worst they have seen for 30 years.

 

We need a graph on new Kebab starts!

 

If everyone was doing their job and the government was actively making sure the regulatory bodies were doing their job wrt bank lending practices , then the booms would be more controlled and we would not be seeing big declines in prices..
And lots of people spending money that they never had in the first place.

 

If drunk people are cutting back on late night kebabs, the economy really is in dire straights!

 

Actually a great time to buy....

 

What are you buying @Speede, hopefully no OTP

 

OTP Kebabs!

 

Lol, I’m yet to eat a structurally sound Kebab!

 

Screaming and shouting lobbying by various business groups...

Look at recent example of mortgage broking pressure

 

Yup. Last Kebab I bought leaked terribly, but damn it was delicious. Plumbing issues after consumption though...

 

Straight into negative equity if the Garlic sauce hits your shirt!

 

Maintain the pretension of any of the below:

- ‘sound economic management’
- budget surplus
- avoiding a prolonged recession

RBA is already requesting more fiscal stimulus... who needs insulation?

 

APRA fury at Westpac, shuts down increased borrowing capacity, ppl still restricted.

Westpac caves in to APRA fury

 

Yep another 10% over next 12-18 months if prices can find a floor from here

 

Check out $WPG on the NYSE if you dare play in USA reits.

Im currently down $15k though.......

Basically there is a lot of short interest due to mortgages that are going to require refunding in 2022, basically it is now so low that the 25c dividend per share is now equal to 28%pa based on the current short price.

Im still long though and think there will be a hell of a short squeeze next year once the refinance the debt especially with bonds so low/fed looking for 2-3 rate cuts this year.