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Australian Housing Crash


Jimmy123

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"and remember there is already 4.4% unemployed now."

 

Do You honestly believe that, I know a few folks that are unemployed that the stats ignore, they are not included in the stats because of the intrusiveness of the Govt into their lives, they just say shove it - I don't blame them as I would behave exactly in the same manner.

 

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Hi Duster, now youre talking common sense, what--if Ive read you right youre

talking about is a self funding investment property, a brilliant idea, and something

I would do like a shot, IF I could find such a property.

 

For that to be acheivable down our way, property needs to drop by another 30%,

and thats on an interest only basis

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Is anyone here holding stocks that are down 30% ?................. or do you wish they were only down 30% ?

 

Well what's the problem if the house you buy goes down 20 -30% in value ? - If you are not forced to sell, it will eventually recover, unlike a lot of companies on the ASX. In the mean time it will pay you a dividend and give you a tax break.

 

http://blogs.domain.com.au/2009/02/rents_h...r_rising_1.html

 

http://newsletters.fairfax.com.au/cgi-bin1...Eqd0CqO0ReBH0Ek

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Do You honestly believe that, I know a few folks that are unemployed that the stats ignore, they are not included in the stats because of the intrusiveness of the Govt into their lives, they just say shove it - I don't blame them as I would behave exactly in the same manner.

 

TheFerret,

 

Sorry but your wrong there. The unemployment rate statistic is collected by a "sample poll", i.e. they interview a sample group and ask them questions on their employment in the last fortnight.

 

If the "few folks" you know told the interviewer to "shove it" they would be excluded from the poll (not counted as employed or unemployed).

 

Cheers

Matt

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One would think that it is a Govt collated figure, that is how many folks are collecting unemployment benefits and that is my understanding of how the figure is determined.

 

I don't disagree. When I heard how it was collected I almost feel off my chair but after hearing all the reasons it did make sense (i.e not all unemployed people collect benefits, some people work without telling the ATO, part time vs full time etc).

 

Cheers

Matt

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A little something in the paper today...

http://www.news.com.au/adelaidenow/files/stepback.pdf

 

Year (Decade), Avg Interest Rate, Avg Adelaide House Price, Average Monthly Mortgage Repayment, Average SA weekly wage.

 

Decade / Avg Mortgage/ Avg Weekly Wage / Avg House Price (% increase difference)

70's vs 00's /830.43% / 809.23% / 924.37%

80's vs 00's /243.95% / 254.85% / 380.89%

90s vs 00's /199.59% / 135.32% /246.64%

 

Shock horror... now factor how many household where dual full time income in the 70's, how about the 80's ?

 

When you factor that dual incomes are now the "norm" the average household income starts to keep up with the mortgage repayments and the average house price (my point is stats by themselves don't paint the full or correct picture)

 

Anyhow if you want a laugh compare 40's with 00's.

The average weekly wage has increase by 7900.68% yet the average house price has only increased by 6953.22%

 

So over a 60 year point of view, housing has increased less then wages :P

 

Cheers

Matt

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