Jump to content
House Price Crash Forum
Sign in to follow this  
The Masked Tulip

Slump Hits Home

Recommended Posts

You know you're a property boom victim if you're a …

1. FIRST TIMER

Thousands from Generations X and Y have given up hope of owning property in the world's seventh most expensive city. The prospect of borrowing half a million dollars for a gloomy terrace in Dulwich Hill was too much. This group rent or continue to live at home.

2. DEFAULTER

Being locked out is better than being on the Supreme Court's Possession List, reserved for that select group who have defaulted on their mortgage. Consumer advocates say there is a growing number of owner-occupiers seeking help about repayment problems.

3. UNDERWATER INVESTOR

Some gung-ho investors who joined the stampede as the property market peaked are under water to the tune of 10-15 per cent. They face hopeless rental yields and years of paltry capital gains. Those who invested in a Sydney property in mid-2003 might have to wait until 2012 before they see their investment back at the purchase value. A record number of court cases against mortgage defaulters last year suggests many got in too deep.

4. POOR AND VULNERABLE

These are the innocent bystanders. Even though they stood by and watched as the property market rose and fell, welfare groups are concerned low-income and disadvantaged groups could be hurt as the soft property market puts the squeeze on State Government coffers. A budget deficit and rising costs have put pressure on the Government to reduce spending. Business groups have proposed measures that could increase costs and reduce services for vulnerable groups.

Slump hits home

Share this post


Link to post
Share on other sites
Guest Winners and Losers

Did someone mention an "I told you so banner" - tick tock, tick tock

You know you're a property boom victim if you're a …

1. FIRST TIMER

Thousands from Generations X and Y have given up hope of owning property in the world's seventh most expensive city. The prospect of borrowing half a million dollars for a gloomy terrace in Dulwich Hill was too much. This group rent or continue to live at home.

2. DEFAULTER

Being locked out is better than being on the Supreme Court's Possession List, reserved for that select group who have defaulted on their mortgage. Consumer advocates say there is a growing number of owner-occupiers seeking help about repayment problems.

3. UNDERWATER INVESTOR

Some gung-ho investors who joined the stampede as the property market peaked are under water to the tune of 10-15 per cent. They face hopeless rental yields and years of paltry capital gains. Those who invested in a Sydney property in mid-2003 might have to wait until 2012 before they see their investment back at the purchase value. A record number of court cases against mortgage defaulters last year suggests many got in too deep.

4. POOR AND VULNERABLE

These are the innocent bystanders. Even though they stood by and watched as the property market rose and fell, welfare groups are concerned low-income and disadvantaged groups could be hurt as the soft property market puts the squeeze on State Government coffers. A budget deficit and rising costs have put pressure on the Government to reduce spending. Business groups have proposed measures that could increase costs and reduce services for vulnerable groups.

Slump hits home

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.