Thursday, Sep 14, 2006

More evidence from OZ

Domain.com: Repossessions at all-time high

This web site is very mainstream in Australia and the evidence is mounting. More and more sources from the Sydney housing market are backing up what most people in Australia believe is, at the very least, the start of a REAL national slowdown. The property examples in this article are a diverse range suggesting that this is not confined to certain areas or price brackets.

Posted by geed @ 12:01 PM (546 views)
Add Comment
Report Article

3 Comments

1. Fair_deal said...

I would love to see that happening in the UK. Imagine, 67% fall in property prices...... ha ha ha.... I would love to see the BTLrs at that point of time. Sheer joy....

Friday, September 15, 2006 10:47AM Report Comment
 

2. Fair_deal said...

I would love to see that happening in the UK. Imagine, 67% fall in property prices...... ha ha ha.... I would love to see the BTLrs at that point of time. Sheer joy....

Friday, September 15, 2006 10:47AM Report Comment
 

3. Chillilizard said...

"Prime Minister John Howard blames the states for failing to release enough land for new constructions. But housing expert Alan Moran, whose recent study has been quoted by the Prime Minister and the Treasurer, has embarrassed them by warning that a mass land release policy could force the price of Sydney homes down by up to 67 per cent."

So in plain terms; we won't build any more houses (and all the other stuff like roads to go with it) and make house more affordable (the american dream) because we don't want masses of people to go into negative equity. Does that about sum it up?

Does the same rule apply to the UK market? My personal experience is that the house you used to own 20 years ago, is now the equivalent of a block of flats. You don't rent an apartment any more, you rent a room. Especially in London.

Just a suggestion; but if there were no housing restrictions, then perhaps there wouldn't be a housing bubble? And everyone's quality of life would be a lot better too.

On the positive side, at some point they might remove some of the housing restrictions that are currently making land owners so rich and then, i'm going into construction :).



Friday, September 15, 2006 01:20PM Report Comment
 

Add comment

  • If you do not have an admin password leave the password field blank.
  • If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines
Username  
Admin Password
Email Address
Comments

Main Blog | Archive | Add Article | Blog Policies