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Rolf Harris

People Fighting For Property In Australia

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This is quite bizarre, with interest rates to go up soon and the first home owners grant to be scaled back people are brawling at house auctions.

"SOARING demand for affordable residential real estate is prompting buyers to pay tens of thousands of dollars more than the advertised price on websites and has even sparked a punch-up at an auction in Sydney's Parramatta."

http://www.news.com.au/business/money/stor...5013951,00.html

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This is quite bizarre, with interest rates to go up soon and the first home owners grant to be scaled back people are brawling at house auctions.

"SOARING demand for affordable residential real estate is prompting buyers to pay tens of thousands of dollars more than the advertised price on websites and has even sparked a punch-up at an auction in Sydney's Parramatta."

http://www.news.com.au/business/money/stor...5013951,00.html

anyone remember what happened here as we approached the date that MIRAS would be withdrawn? Anyone remember what happened after MIRAS was withdrawn?

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anyone remember what happened here as we approached the date that MIRAS would be withdrawn? Anyone remember what happened after MIRAS was withdrawn?

Was going to post the same thing, Barndon will be along to tell us the Aus market is built on strong fundamentals.

Edited by Confounded

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Was going to post the same thing, Brandon will be along to tell us the Aus market is built on strong fundamentals.

makes no sense to pay 30-40k over asking to get FTB grant of 10k (?)

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makes no sense to pay 30-40k over asking to get FTB grant of 10k (?)

It's all about leverage. The 10k increases the purchasing power by as much as 50k, it also provides deposits where none exist.

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makes no sense to pay 30-40k over asking to get FTB grant of 10k (?)

It will start to make sense to them over the rest of their life, buy in hast repent at leisure.

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It's all about leverage. The 10k increases the purchasing power by as much as 50k, it also provides deposits where none exist.

Lambs to the slaughter. Why on earth are people leveraging up in a deleveaging world? Oh wait, I think I got it. Something to do with money/[strike that] asset illusion; prices can only keep on going up. :lol:

Edited by roman holiday

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