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The Masked Tulip

Another Sign That The Huge Aussie Housing Bubble Is Popping

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Another Sign That The Huge Aussie Housing Bubble Is Popping

Reality came to Reality TV in Australia last week, when 3 of the 4 properties in the much-hyped “Flip that House” program The Block failed to sell at their nationally televised auction. A 400 person live audience, watched by over 3 million TV viewers, couldn’t entice more than one person to part with money rather than eyeballs. As the SMH observed:

Whatever the lure of a celebrity house, the would-be buyers in Fitzroy Town Hall were just as jittery as the would-be buyers at any other auction in recent weeks. (“Auction failure shocks The Block“, SMH August 22)

The remaining three properties sold in the week after the sale, but at a substantial loss compared to the initial purchase prices plus the sums expended on them by the 4 couples in their 2 months of televised renovations (and let’s not mention the advertising budget).

So is the chopping of The Block a sign that the days of ever-rising house prices are over?

Read more: http://www.businessinsider.com/another-sign-that-the-huge-aussie-housing-bubble-is-popping-2011-8#ixzz1WELa4qX5

Edited by The Masked Tulip

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My aunt lives in Auss she put her house in Melbourne up for sale within a week it sold full asking price and it needed work, think she was one of the lucky ones.

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My aunt lives in Auss she put her house in Melbourne up for sale within a week it sold full asking price and it needed work, think she was one of the lucky ones.

You dont say what the asking price was in relation to the market. I fit was reasonably price below to sell then jolly good.

If you are implying there is no crash and she got taking the piss full asking price, then you are a deluded retard.

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You dont say what the asking price was in relation to the market. I fit was reasonably price below to sell then jolly good.

If you are implying there is no crash and she got taking the piss full asking price, then you are a deluded retard.

Just thought she done well getting asking price have no idea if cheap or not as i live in the uk. All it was was a comment!

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yes, it's slowed down, but look at australia as being equal to the UK in 2005-6. everyone knows it HAS to crash, right.....

and then you think of what governments elsewhere did to keep the plate spinning. Then you think of just how rich australian mining companies are and how much tax money the aussie gvts have to spunk about...

based on the bank of england and other performances, a crash here will be prevented for 3-5 years and dragged out for 5 years after that.

so don't go counting your chickens...

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yes, it's slowed down, but look at australia as being equal to the UK in 2005-6. everyone knows it HAS to crash, right.....

and then you think of what governments elsewhere did to keep the plate spinning. Then you think of just how rich australian mining companies are and how much tax money the aussie gvts have to spunk about...

based on the bank of england and other performances, a crash here will be prevented for 3-5 years and dragged out for 5 years after that.

so don't go counting your chickens...

Not sure the mining companies (which are largely domiciled outside Australia) can save the day, but I agree entirely with the rest of what you say.

One advantage with being the slow kid at the back of the class is that you have the opportunity to see what's happened at the front - question is, are you smart enough to learn from the mistakes made by those ahead of you? In Australia's case, given the reverence of the leveraged-to-the-death Big 4, I am not sure.....

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yes, it's slowed down, but look at australia as being equal to the UK in 2005-6. everyone knows it HAS to crash, right.....

and then you think of what governments elsewhere did to keep the plate spinning. Then you think of just how rich australian mining companies are and how much tax money the aussie gvts have to spunk about...

based on the bank of england and other performances, a crash here will be prevented for 3-5 years and dragged out for 5 years after that.

so don't go counting your chickens...

Couldn't you just as easily compare it to the US, Ireland or Spain*?

Or is Oz special?

*Presumably pre-crash, no one in these countries thought they were buying into a bubble either.

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If they were that concerned about foreign investment why did they let the AUD get to $1.10/$1 USD

Another pure garbage article....

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  • 284 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
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      • up 5%



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