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House Price Crash Forum

electricblue

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About electricblue

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  1. As a FTB and a family that can save 10% in one year, we have no intention of using our savings to buy into an overpriced market. The whole system relies on FTB's being able to buy into the overpriced houses. Can you really see people who go to the trouble of saving, who understand the meaning of saving, (in the uphill of these inflationary times) to suddenly put their cash down on a deposit when the property isn't worth the price? (As long as they don't buckle under the - PANIC - BUY NOW - ACT NOW - YOU'LL MISS OUT -) Although, the way the bailouts are happening let's time it before hyperinflation, k? H*ll no. They're savers. They save more money by waiting, and they know it. Have friends who don't save, they say they can't because of their expenses, but really it's just a lifestyle choice as they earn more than enough. They rent. In our case, we don't even have an interest in a mortgage. And, it's people who have a chunk of deposit that they're after. Nope, sorry, not gonna happen. See, a lot of FTB's think, 'why should we have to afford something like that?' Why SHOULD they? Not only will they be a mortgage slave, when they don't have to be, but all their lives, they've been given an easy ride because of easy debt.
  2. Everytime Rogers mentions 'The Fed' and 'illegal' he is quickly interrupted by the interviewer.
  3. I've noticed lots of cost cutting. Take loo rolls for example. At the supermarket you can get an 8pk of 190 sheets for $6.99 with a big, bright yellow SPECIAL sticker on it. Or, you can get a 4pk of 400 sheets for $5.99 with no special sticker. Have to get a special soap for the kid's eczema, just the plain, so scent etc stuff and it used to be a standard sized block. Now, they've gouged out the middles so the bars are a concave shape and is probably about half the size of the original. Shampoo bottles have better packaging and less in them. Tissues have less sheets.
  4. This happens at all levels. The avarice of some people is kind of their own destruction. I've seen friends, poor with kids, hook up with men who were fairly well off and get married and two years later, divorce. Yep, I knew they married for money, as there's no way they'd do it with a poor guy. Add more kids into the mix, half the guy's worth and they're off to find the next victim/guy. Thing is, half of these fairly well off guys have been twisted by sick ****s, so they try to protect everything, but they let these women in, kind of write their own self destruction as well. I guess they know that the money is a lure. It has to affect them in some way. I used to think pre-nups as unromantic. Now, I don't. Why? Too many people are being taken for all their worth. It they refuse to sign it, the person man or woman, has to ask themselves why. There should be a fair compromise involved. It sickens me that you need a pre-nup anyway. You have to really think about your choice of partner and I guess, cover your back. There should be new laws to balance and protect people. I am always glad that I met dh while we were both dirt poor.
  5. After the Bear Stearns collapse. It only garnered about 30 secs on msm, but alarm bells started ringing. About late January this year, I knew something bad was coming. I was driving, listening to the radio and about 5 mins from home and I saw the same huge house on the corner up for sale AGAIN. The callers on the radio, the presenters sounded angry, defiant and despondent at the latest rate rise. The official figure was something like 7x average income. I had done all my sums, and didn't get how people could afford to buy at these sorts of prices/rates. Our income is above average, we rent cheaply, kids and we were finding the times getting tougher. There was something in the air, you know? Not sure if this constitutes 'game on' but that's when it began.
  6. It would be fun though. I would love to have chickens and I do have a decent sized yard, but renting. I normally get the kids to throw all the excess, rotten fruit and veg in the garden with really moist soil and lots of sun. I don't buy seeds, just use them from whatever I've bought. So far, I've had a few tomatoes. When you buy shallots (green onions) you can cut off most of the green, plant the white and roots in a bucket of soil with holes in it and have never ending green onions. They keep growing. I would love a cow, for milk, and the work wouldn't bother me for fresh milk. For meat, hey, I'm a fisherman's daughter and even my oldest daughter can pull in a night's feed. She's not even ten and can out fish a lot of adults. Dh and I figure it's because she fidgets so much while holding the rod, and the bait's constantly moving. I have every intention of making nearly every plant edible when we buy a house with a lot of yard. I will use passionfruit vine all over the fence, watermelon trailing along the fence, orange and lemon trees, hopefully an established avocado, fig, macadamia, mango, strawberry, herbs, vegetables and salad. Oh, yeah and mulberries.
  7. There are so many VIs around. This property crap has infected a lot of people and they will never talk down the market. EVER. This lying, artificial boom managed to weasel its way into everything and you'll find people who you think would know better trying to convince you to buy in a falling market. Everytime I hear or see someone suggesting that the market is not going to tank anywhere like the U.S., guaranteed they have property, are an investor in property or a developer. Please, buy this worthless thing from me. Or, please buy an overpriced house, flat anywhere to prop up the market, so I can sell.
  8. Don't worry. For reasons unknown, some assume I'm looking for a house. I have never mentioned so. I'm not. I'm waiting, like so many other FTB's. I have no intention of catching anything with my teeth, let alone that blade falling from the sky. Edit: Typo
  9. Not just that, but buyers, especially FTB's have no choice but to do their sums and the repayments are a big, red flag. They can't afford it, and guess what? They recognise that owning a house isn't worth being a slave your whole life, they'd rather save some dosh, live life on the rest and are more than happy to not show one slight bit of interest. The loans I've heard people taking out here make you wonder. For example, a mother who is on the dole and the only thing that tips her over the edge for getting a loan is the child support payment for one of her kids. But, wait. There's no subprime is Oz.
  10. Housing Market Flooded But Few Buyers STRESSED home owners and investors are flooding the market with thousands of houses but agents say they can't find any serious buyers for some properties. As home mortgage lending in Queensland dives for the second consecutive quarter, the number of houses for sale is up 150 per cent compared with the same time last year. There were 4750 new listings added this week - 1842 in Brisbane. Almost 40,000 residential properties are listed for sale across the state, compared with 15,900 last year. Yeeouch!
  11. The look on his face..."But, I don't understand..."
  12. Denial reigns supreme at the moment in Oz. This has a long feel to it, too many factors, intervention only makes it worse. The unwinding will be huge, painful and awakening. Close to a couple of decades, I'd guesstimate. Most likely, a lot more. Something just feels very wrong, especially that people are now using their credit cards to live their everyday lives. Who can see how this will play out? No doubt, the msm will try to hush it up as much as possible, until it's plain to see for all. We're at the top of the slippery slide.
  13. I budget much to my hubby's disgust. JK. I'm sure he secretly likes it. I will work out what I need every week in advance and bring in all in under budget. There are bills that are not flexible, so you find ones that are and make a spreadsheet totalling all your costs. I find it a carefree experience really. An hour's worth of budgeting, meal planning for the week and you're set. If you have run out of money, the plain simple fact is YOU ARE LIVING BEYOND YOUR MEANS. Even if you were given more money, your problem probably wouldn't disappear. You have a set amount of money and you need to find a way of living from it. My biggest tip would be to budget, try to bring in the bills at the lowest price possible, don't get into more debt, work out every single expense you've had over the last few months from bank statements, receipts, whatever and figure out where the wastage is happening. Do you spend too much on take out? Petrol? Are some of these costs temporary or can you spread out a bill over a few weeks to minimize impact on the weekly budget? Budget, budget, budget and don't break it. Have a jar for savings and every night put all your change in there. Wait an extra day to shop each week and by the end of the year, these accumluated days amount to an extra week's wage in your bank. We have alot of luxuries - cable, phone, internet, numerous gadgets that suck lots of electricity, fishtanks, plasma. We eat meat just about every single night. Get creative and do some research.
  14. Lots of bear food in the Courier Mail that I read today. One article about how sellers prices are too high, another how interest rates are hurting investors, another about the U.S Fed mess, more help for the cost of living through the gov's new financial year tax cuts, an article about oil and how it's going to affect everything, how wages are set to increase only in line with inflation otherwise, the IR's will have to raise and what about Rio Tinto's deal....
  15. FTB's are a minority? I guess the bulls have to make FTB's feel that they have to buy and are a minority class to keep up with the 'you need to buy' spiel. I do find it interesting that twice now you have mentioned my status as a mother. Wasn't it Marc Faber who said that the person on the street often knows more about the economic climate that the so called 'professionals'? Other mothers aren't the only people I talk to. I don't sit in an office all day, but I have appointments with teachers, principals, childcare workers, friends. I don't fly first class, and don't live in hotels. I'm not cocooned by anything. Just last week, I talked to a gym manager and his wife, a panel beater and his staff, a taxi driver and his daughter, childcare workers and their bfs, real estate agents, investors, carpet cleaners, doctors, pensioners and people off work at the x-ray department, sales assitants at supermarkets and shops, grandparents who couldn't get over the drop in U.S house prices, relatives and friends who are looking for higher paying work (inflation) and pet shop owners, a lost blind lady and her carers at a church. Actually, many people do see it my way. It's the property bulls who have trouble swallowing.
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