A poll for house price and our economic future.
Any thought is welcomed.
House Prices during Recessions
hishaken on 29/08/2019 - 09:39
Last edited 29/08/2019 - 14:21 by 1 other user
Last edited 29/08/2019 - 14:21 by 1 other user
Poll Options
- 1Recession happens, East coast house price will go up, West coast house will go down
- 1Recession happens, East coast house price will go down, West coast house price will go up
- 52Recession happens, East coast and West coast house price will both go down
- 3Recession happens, East coast and West coast house price will both go up
- 1Recession doesn't happen, East coast house price will go up, West coast house will go down
- 1Recession doesn't happen, East coast house price will go down, West coast house price will go up
- 3Recession doesn't happen, East coast and West coast house price will both go down
- 8Recession doesn't happen, East coast and West coast house price will both go up
Comments
Not true, the 80's had prices crashing and people leaving property with negative equity, interest rates went to 18% (was 12% when i first signed loan) after approx 12 to 18 months
Really…..
Where were you the last 2 years?And between 2008 and 2009?
And between 2011 and 2013?Like and osterich with your head in the sand?
Outer space maybe?
what a horribly worded post
Let me just boot up this crystal ball…
Downloading and installing updates…
May take a while…
Perhaps most definitely a possible maybe.
You need a poll
He need a pole as well for asking such open ended and ridiculous question which none can answer with their right mind.
Does it matter?
Does if you're about to get encumbered for a massive loan….
It does if you're going to Negative gear (ie deliberately lose money on the assumption that the Capital Gain will offset the losses) with the intention to roll out in 5 years.
Is there anywhere in-particular the 7.692 million square kilometres you are wanting to know about?
Darwin is about 20% lower than 2013 prices.
Regional WA is down about 20%
Gladstone region is down a fair bit.I that where you wanted to buy?
This is where he wanted to buy - -25.973784, 133.196293
that's under the flight path.
42
The price of a finite resource (the land on which the house is built) will always go up long term.
That's predicated on population also steadily growing.
But won't the government open the floodgates to stimulate demand and prevent a crash? Governments are great at selling the future for the present and the major lever they have is to allow more immigration to bolster house prices.
Oh, I was more thinking a apocalypse type event that wipes out 90% of humans world wide.
That is whats been driving the housing market for many years
I'd say more on basic demand. People always want more even if it's something they already have. Population doesn't need to increase for a corporation or person to want more land to build a larger house or a shopping centre, or a block of units etc.
Your opinion please
If you are selling the answer is YES
If you are buying the answer is NO.
Pick the answer you want OP.
dunno
Jerry Norman said he was buying farms a few years back as he predicted hard time are ahead. He believes people would need homes and his farms would need workers so if shit hits the fan he would have cheap labour
But the could all backfire as well with no water to grow crops.I was keen to buy that property that Pyramid is talking about, but its too close to Mount Cavenagh Airport and I am worried about aircraft noise
Definition of recession is two consecutive quarters of negative GDP growth. It's bound to happen some time, but most certainly is not the end of the world. Not worth stressing or worrying over, even if house prices decline.
what about depression
Not worth getting depressed over it either.
In times of depression, consumer confidence and investments decrease, causing the economy to shut down. Economic factors that characterize a depression include:
~Substantial increases in unemployment
~A drop in available credit
~Diminishing output
~Bankruptcies
~Sovereign debt defaults
~Reduced trade and commerce
~Sustained volatility in currency valuesI think we will when we lost our jobs.
@dcep: I would argue that's your inherent choice. But there's always something to be thankful for even in the most adverse circumstances.
@dcep: You don't have to outrun the recession, merely not be the slowest swimmer.
(I am not sure if recessions are water based or land based so I'm hedging my bets).
I thought it was 3 consecutive quarters but I see you are correct.
have lived through quite a few. When the mortgage rates were double figured it was a real killer and lots of mortgagee possessions took place. Of course the size of the mortgages were not massive like they are now. However this was a great time to buy with plenty of bargains to be had if you had the cash.
It wasn’t too long ago that houses on the posh part of the Gold Coast were selling at half price and even less in some cases. I wish We had listened to our son then!
You get into trouble when your mortgage is higher than the current value of your home.
Kind off think baby boomers will continue to play monopoly with numerous funds , friendly govt policy, low interest rates will continue the uptrend . China cracking down on off shore investments keeping it steady .
God help them if Labor won I'd be on puts , they won the lotto property owners :)
It will happen again.
Every civilization, especially those that are leading the race, will run into a shortage of prime real estate.
Cities grow and those who have low density zoned parcels of land will find themselves rich beyond reason when infrastructure goes through their farmland.
It is a matter of when.
Go down depent how bad it get with jobs and banks leading
Not really correlated
Housing is a $7 trillion economy in Australia.
Made up of debt, aka hot air out of nowhere.
Hi,
Thank you for your question.
Upon reading it, I jumped in my Delorean and travelled to July 1, 2021 and just got back.I con confirm:
House prices nationally down 3.6% in fin yr 2020.
House prices nationally up 14% in fin yr 2021, based on Trump's re-election and the 8th public vote in the UK confirming Brexit and they are to leave the EU.
OP how about an update on your investment properties? Or still on the sidelines after two years?
https://www.ozbargain.com.au/node/275792
Surely you invested in Brisbane/Gold Coast after tapping the OZB brains trust?
https://www.ozbargain.com.au/node/333913
I don't think it'll matter if we go into recession for you anyway given your expertise in Bitcoin mining?
Impact will vary on type and breadth of recession, impact will be localised hitting higher priced property first (more luxury) as demand reduces.
If massive unemployment then we could see a late 80s housing market again.
Important thing in those circumstances is to maintain your cashflow, through employment or other (legal) means.Of course the government may take important steps to keep the economy afloat (Yeah right), or China/USA kiss and make up
All the options are possibilities since Australian investors have proven how stupid they are to be buying property with the lowest rental yields ever, highest prices ever and with higher and higher rental vacancies.
Thats not to mention the shoddiest construction ever seen.
Its absolute madness really. Doesnt make sense
The market has gone insane and is impossible to predict just as with insane people.
Prices only go up in Australia.