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 Post subject: Re: Ominous signs in Australia
PostPosted: Thu Nov 23, 2017 11:22 am 
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What's that graph supposed to tell me? How many dwellings per person do they think Australians need? The way the graphs are scaled it looks like about 1.5 persons per dwelling?


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 Post subject: Re: Ominous signs in Australia
PostPosted: Thu Nov 23, 2017 10:39 pm 
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DSE3Br wrote:
What's that graph supposed to tell me? How many dwellings per person do they think Australians need? The way the graphs are scaled it looks like about 1.5 persons per dwelling?


Just that population growth has totally outstripped house building in the recent past. Up until very recently.
Some are claiming an overhang now. FYI 2.6 ppl per household is the average http://www.censusdata.abs.gov.au/census ... ckstat/036

Quote:
Australia faces housing hangover twice the size of the GFC subprime era

The party is finally winding down for our housing market. How severe the hangover is will determine the economy's fate for years to come.

After five years of surging prices, the market value of the nation's homes has ballooned to $7.3 trillion - or more than four times gross domestic product. Not even the US and UK markets achieved such heights at their peaks a decade ago before prices spiralled lower and dragged their economies with them.

Australia's obsession with property is firmly entrenched in our economy and psyche, fuelled by record-low interest rates, generous tax breaks, banks hooked on home lending, and prime-time TV shows such as The Block where home renovators are lauded like sporting heroes.

For many, homes morphed into cash machines to finance loans for boats, cars and investment properties. The upshot: households are now twice as indebted as China's.



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http://www.smh.com.au/business/the-econ ... zrwn4.html


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 Post subject: Re: Ominous signs in Australia
PostPosted: Fri Dec 01, 2017 12:32 am 
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Quote:
Sydney's house prices continue its subtle downward slide falling another 0.7 per cent in November, the latest Corelogic data shows.

In the three months to November, Sydney house prices posted a 1.3 per cent fall

Melbourne was more resilient, thanks in part to strong population growth, rose 0.5 per cent growth in November.

But Perth stole the show. House prices in the western capital rose 0.2 per cent in November indicating a clear "bottoming out", Corelogic head of research Tim Lawless said

"If this is indeed the start of a recovery phase in the Perth housing market, it comes after dwelling values have fallen 10.8 per cent since peaking in mid 2014," he said.

Read more: http://www.afr.com/real-estate/sydney-h ... z4zxso6vdG
Follow us: @FinancialReview on Twitter | financialreview on Facebook



10% isn't really all that much considering the prices


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 Post subject: Re: Ominous signs in Australia
PostPosted: Fri Dec 01, 2017 12:32 am 
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A typical Sydney home now costs $904,914 — roughly $6000, or 1.3 per cent, cheaper than it was at the start of September.


http://www.news.com.au/finance/real-est ... fe4c3dfcc9

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https://www.businessinsider.com.au/aust ... 17-2017-12


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 Post subject: Re: Ominous signs in Australia
PostPosted: Fri Dec 01, 2017 2:12 am 
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I see Turnbull has ordered a royal commission to inquire into the Australian banks. Sounds like they were doing all the same nasty things as banks everywhere else -- money laundering, rate fixing, etc. etc. The Aussie banks have always claimed they were in good shape because the subprime crisis didn't reach them. Interesting to see if they're wearing any shorts when the tide goes out on them.

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 Post subject: Re: Ominous signs in Australia
PostPosted: Fri Dec 01, 2017 5:53 am 
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Blindjustice BATONEFFECT wrote:
DSE3Br wrote:
What's that graph supposed to tell me? How many dwellings per person do they think Australians need? The way the graphs are scaled it looks like about 1.5 persons per dwelling?


Just that population growth has totally outstripped house building in the recent past. Up until very recently.
Some are claiming an overhang now. FYI 2.6 ppl per household is the average http://www.censusdata.abs.gov.au/census ... ckstat/036

My point is that the graph doesn't show that, unless you think each 1.5 persons need their own home.

Edit: I get it now.


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 Post subject: Re: Ominous signs in Australia
PostPosted: Fri Dec 01, 2017 10:26 am 
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ps200306 wrote:
I see Turnbull has ordered a royal commission to inquire into the Australian banks. Sounds like they were doing all the same nasty things as banks everywhere else -- money laundering, rate fixing, etc. etc. The Aussie banks have always claimed they were in good shape because the subprime crisis didn't reach them. Interesting to see if they're wearing any shorts when the tide goes out on them.


According to the news the opposition were looking for a royal commission, (monarchs version of public inquiry :roll: ), for several years now. Apparently the inquiry finally got enough votes from members of parliament and to preempt that the BANKS THEMSELVES wrote to Turnbull basically saying go ahead with the inquiry so that you ............i.e we the banks............have control over the terms.

Poor form in my opinion. Really shows who is in control here.


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