Who lived through the last Aussie recession?

Discussion in 'Property Market Economics' started by qonyx_sydney, 14th Aug, 2015.

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  1. Esh

    Esh Well-Known Member

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    great question! Thanks for asking, I have been thinking the same thing exact thing.

    Very interesting reading everyone's stories. I am seeing a massive slow down on the market. The prices are still strong but not as many clearance rates at auctions and buyers are having less urgency to buy
     
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  2. Squeakywheel

    Squeakywheel Well-Known Member

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    I went through the 90's recession, with 18% interest on PPOR.
    Things are looking a lot worse for DP and I this time around.
     
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  3. willair

    willair Well-Known Member Premium Member

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    Maybe this time it might not be as widespread as the ones before,just mini recessions all over Australia ,ask anyone who invested and still hold in several mining towns from every business model up they might say they are in recession , or large hardware stores some of those you could fire a gun inside and not hit anyone only the large number of staff to run the business model,or like this morning I go down to lifeline to see what new 2nd hand books that come in on Friday the place is packed but 2 food café just 100mts away have gone broke one with a brand new fit off have gone bellup,maybe the people that put their ppor combined with opm might say they have been hit by a recession,maybe we all need a higher level of intercultural understanding ,I bought a book on Paul -Keating this morning about the big bang recession of the early 1990's for 2 bucks,that will be good reading..
     
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  4. qonyx_sydney

    qonyx_sydney Well-Known Member

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    There seem to be some pretty tough stories how many of you managed through the last recession. I want to thank all of you for sharing as there are some real 'battler' stories in there and it gives those that are younger a flavor of what will be to come if we were to experience something similar.

    I did manage to find the story below which has some insight in what it was like;

    http://www.businessinsider.com.au/h...-benefit-from-a-housing-price-collapse-2014-1

    Apologies if the story is one of those 'doom and gloom' ones however it has some relevant context.

    I personally feel that some markets (like Sydney) would be impacted harder than others (Brisbane)
     
  5. Bayview

    Bayview Well-Known Member

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    What amazes me is how for the last year or more, I have been hearing nothing but good news on the media from the folks in the finance sectors who report on it....retail sales up, new jobs being created, ra, ra ra. o_O

    Yet, for at least two years or more, I have been banging on about how bad things are from what folks tell me about their businesses (in various industries; not just automotive) and so on (and not just because my workshop has been going bad either; as many folks here think and have said to me) .

    And now we have this thread and a few others popping up full of of doom and gloom, and predictions of slow-downs etc

    From my observations; outside of a bit of a boom in Sydney and parts of Melbourne property market; not much good is going on.

    What planet are these finance reporters reporting about?

    I predicted the $20k small business incentive would do bugger-all; must be nearly time to hear the figures from that....
     
    Last edited: 16th Aug, 2015
  6. HUGH72

    HUGH72 Well-Known Member

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    Note: The more affordable suburbs were less affected while luxury properties were hit the hardest.