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Realistbear

Australian House Market Slips Into Negative Equity

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http://www.in2perspective.com/nr/2006/09/a...tive-equity.jsp

Australia slides into negative equity

By Laurie Osborne, Editor

Published 7th Sep 2006, (a Thursday) at 02:00PM

In Australia, negative equity has spread to Brisbane as the country's property downturn continues to slug investors at the lower end of the housing market.
Australia's largest mortgage broker, Australian Finance Group (AFG), has reported that falling property values in parts of Brisbane have led to an increase in the number of owners with mortgages bigger than the value of their homes.

US are still up by just over 1% YoY and should see overall negative for the first time in August when figures are tabulated. IMO, the UK will be there in about 6 months--just as winter has set in. :)

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Crikey, they were all really bullish there not so long ago. It's simply awful that the prices are falling....... snigger. :lol:

I'm looking forward to the Paddies getting negative equity. The arrogance in Ireland is unbelievable.

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This is a goody in case anyone missed it

Housing Crash Puts Sellers in Debt Crisis

42% down, gosh golly gee, I thought house prices only went up...

This article has one of the most desperate sounding bits of VI spin I've ever heard in it:

"There are some people around Liverpool who think that prices have further to fall, but I couldn't imagine this type of house will fetch less in six months' time," said its selling agent, Ray Dimarco.

By the way, I also can't help feel a little sorry for the couple that sold the house at the top of the article. The number of times I've seen its picture on the web now they must be feeling a little sheepish.

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This article has one of the most desperate sounding bits of VI spin I've ever heard in it:

By the way, I also can't help feel a little sorry for the couple that sold the house at the top of the article. The number of times I've seen its picture on the web now they must be feeling a little sheepish.

The trouble is this negative equity is going to take these people out of the housing market for a long time.

Interest rates are still going higher, and this bust is now spreading out to the smaller cities.

I'm sure there will be plenty more houses as this bust develops

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  • 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%



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