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Australia's House Price Warning!

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Guest Bart of Darkness

Isn't Australia about 6 months (maybe a year) ahead of us in their housing boom?

Hold on tight!

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Guest consa
Isn't Australia about 6 months (maybe a year) ahead of us in their housing boom?

Hold on tight!

yep, 6 months is about right

:)

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The Reserve Bank of Australia (RBA) has issued a stern warning that a deterioration in local economic conditions - possibly triggered by rising petrol prices - could result in households defaulting on debt and a sharp fall in house prices.

:lol::lol::lol:

http://www.in2perspective.com/articles/aus...ice-warning.jsp

Considering British Household Debt now exceeds £1 trillion. Does anyone know what the Australian Household debt is? If they are six months ahead of us it would be useful to know whether their starting position is better or worse than ours. I suspect that the answer will probably be that we have borrowed far more. :(

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Guest consa
Considering British Household Debt now exceeds £1 trillion. Does anyone know what the Australian Household debt is? If they are six months ahead of us it would be useful to know whether their starting position is better or worse than ours. I suspect that the answer will probably be that we have borrowed far more. :(

From what i gather is they are less indebted than us here and they have a trade balance surplus not deficit.

Thats off the top of my head, I may be wrong. I will endevour to find out.

Article found, a bit old though:

http://finance.news.com.au/story/0,10166,1...8-31037,00.html

Edited by consa

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Depends on which part of Australia you're talking about!

Where I live in Western Australia (Bunbury) prices have risen a massive 35% in the past twelve months and are still rising. Unfortunately, there is no sign of a housing slowdown on this side at all! Everywhere you go in WA there are dozens of new housing estates almost appearing overnight! There is such a shortage of building workers that brickies are earning $1 a brick down here and double that up north in Broome! However the West is usually a few years behind the East coast, so hopefullyb the downtrend will happen here at some point. FTB'S no longer exist in this area. The average price of a house in rural WA is around $280,000 - the average wage somewhere in the region of $45,000. I've just come back from Melbourne as I was hoping to re-locate there, but the prices are still way too steep. Areas South of the city on the Mornington Peninsula have risen by about 14% in the past year, mainly because people are desperate to get out of the hell hole that is Melbourne and live in a quieter environment. But now the traffic has got so bad that it could take you two hours to commute to the city from there!

Bring on that crash ...I want to come home!

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Guest tenant super

It might take a slightly different shape here, they do have higher interest rates than us. RBA raised to 5.5% in Spring.

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Guest Riser
Not Australia, US.

Unconfirmed web rumour: Fox reports that number of houses for sale in California has doubled.

http://www.kitcomm.com/showthread.php?threadid=12844

Peak for Housing Said to Be Near

Slowing price increases in California may cause a recession by 2007, UCLA economists say.

By Bill Sing, Times Staff Writer

California's housing boom appears to be peaking, and the resultant slowdown is expected to produce "weak growth" in the state's economy during the next two years and a possible recession by the end of 2007.

That's the view of economists at the UCLA Anderson Forecast, which plans to release its widely watched quarterly outlook this morning.

"There are some signs that the housing party is ending," said Christopher Thornberg, senior economist at the UCLA group and author of its California forecast.

Thornberg points to an almost doubling of homes on the market in the last six months, a flattening of sales activity and the increasing reliance on high-risk mortgages by buyers to acquire today's expensive homes. Property in California, he said, is now overvalued between 40% and 45%.

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okay.. we are seeing aussie crashes.. and USA crashes..

are they seeing ours?

how do we appear in the news to the countries outside of us.. who have been affected by the boom..

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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