"The Crash" has been called... end of 2017.

Close enough. My little cousin got in - just scraped through. She is so much smarter than me when I was younger. LOL. All i wanted was playstation and basketball.

The amount of pressure kids have to endure for learning these days is huge. She studies so much. Funny thing is she likes to study. hahahaha.

 

I was an average student, hated studying things I knew I would most likely never use like trigonometry etc. School never engaged me for some reason... I really disliked going for most of it. It wasn't until year 11 and 12 that I started studying and doing the work though only because my parents bribed me. I never liked high school one bit. Felt too much of it was a waste of time and just ticking boxes because everyone else is doing it. I mostly kept to myself.

 

Greg Jericho's latest Grogonomics piece for The Guardian argues that the housing boom is drawing to an end, but that a slowdown rather than crash is the more likely outcome.

Housing boom coming to an end – but there's a catch for first-home buyers | Greg Jericho

 

I disagree. I'm calling end of 2018, and if not, then 2019, and so on so forth.

 

If I predict long enough it WILL eventually come true.

 

It'll probably happen when complacency is rife.

 

Well, I have seen some areas go from no standing room and a line at opens, to near zilch, not even tyre kickers at first open.....

Forever the optimists some of you Sydney guys, I have been here all my life, but I have no rose glasses....the changes have to bite.

 

I'm watching two of my Gold Coast suburbs of interest go from selling more than 25 dwellings per month all year round for 2 years straight, to barely 10 in the last month. So far this month they've both sold 3 dwellings each.

 

Helensvale sold 41 dwellings in July 2016. Sold 21 July 2017.Big drops seem to be happening in several suburbs

I havent seen any sold under last purchase prices yet, but still concerning to see such drops. Maybe we'll just see a stagnation for a while

 

Many now being sold with losses after taxes without some creative accounting? A couple from this month already

29 Southaven drive
Sold $1,250,000 in Aug 2017
Last Sold $1,200,000 in Dec 2006
House: 4 3 3

1 Grand Entrance
Sold $675,000 in Aug 2017
Last Sold $645,000 in May 2009
House: 4 2 2


2 Tammy Court
Sold $650,000 in Aug 2017
Last Sold $625,000 in Oct 2007
House: 4 2 2

 

Hi Rozz

Where do you get these stats from please?

Kind Regards

Matt

 

Hi Matt. I receive a monthly report from one of my pm's who manages various properties on the northern Gold Coast.

 

It's happening.....

Bought for $262,500 in 2003, sold for $95,000 last week

Oh. That was last time. Still worth a read though.

 

@Perthguy 4.5months to go. Is anyone here gonna question mr David on twitter if it doesn't crash?

 

Hearing lots of people I talk to say that they are waiting for the crash, which is the opportunity they will use to buy property.

Waiting patiently here.

 

With hindsight I should have picked up lots of properties in South Western Sydney at this sort of discount. Damn, my time travel machine is currently broken.

 

It's all well and good if prices are crashing but will will anyone meet the banks' lending profile?

 

Does anyone think we are going to hit interest rates like in the 90's. I remember them going up to 15+% at one point. That would surely be doomsday scenario this day an age with these prices. I remember the parents mortgage went up to about $300 a week on less then a 100k while rents were about $100 p.w.

 

I do not buy that myself, apart from a handful that may have been too young or had no work, say in Syd, if they did not buy 5 years ago, then they wont buy now if there is a small pull back.

 

With the amount of mortgage debt, new buyers hold even an IR rise to 8% is enough to bring many borrowers to its knees.