Shortage? What shortage?
http://www.bloomberg.com/news/2012-...dercut-claim-of-australian-home-shortage.html
http://www.bloomberg.com/news/2012-...dercut-claim-of-australian-home-shortage.html
Housing shortage and population growth
- Thread starter Telejazzer
- Start date
From 2006:
Construction industry says housing crisis has hit California
By Avi Rutschman [email protected]
The California Building Industry Association (CBIA) continues to express alarm over what it calls an ongoing housing crisis in Southern California.
Alan Nevin, the association’s chief economist, projected in a 2006 CBIA Housing Forecast that only 185,000 to 205,000 building permits will be granted this year, far short of the 240,000 new homes needed each year.
http://www.toacorn.com/news/2006-02-09/Front_page/005.html
Construction industry says housing crisis has hit California
By Avi Rutschman [email protected]
The California Building Industry Association (CBIA) continues to express alarm over what it calls an ongoing housing crisis in Southern California.
Alan Nevin, the association’s chief economist, projected in a 2006 CBIA Housing Forecast that only 185,000 to 205,000 building permits will be granted this year, far short of the 240,000 new homes needed each year.
http://www.toacorn.com/news/2006-02-09/Front_page/005.html
'Data from the 2011 Census of Population and Housing will be released soon, enabling the Council to check its estimates of household numbers and assess whether factors like low levels of dwelling production, shortages of affordable housing and changing preferences for investment and housing consumption have increased household size and reduced home ownership rates, especially among young and middle aged people on lower incomes.'
http://www.nhsc.org.au/content/media_releases/2012/001.html
If there were more affordable houses there would be more households. It is being reflected in the style and size of housing now being brought to the market tho... market determined austerity.
http://www.nhsc.org.au/content/media_releases/2012/001.html
If there were more affordable houses there would be more households. It is being reflected in the style and size of housing now being brought to the market tho... market determined austerity.
That's definitely not the same context that spruikers have used time and time again over the past 10 years as prices having risen substantially across the board the past 10-15 years.
Yes well I think that's because people in those areas buy what they can afford, not what they should be paying.
Is there a relationship between population growth and house prices.....no.
Debt fueled the bubble.
http://www.youtube.com/watch?v=4IVbhAJ8zl4
Debt fueled the bubble.
http://www.youtube.com/watch?v=4IVbhAJ8zl4
Not population growth per se, but the demand for less properties than there are people in a given area will do it.
For example; go out to Central Victoria and see all the little towns where no-one wants to live any more, and see what a house costs in one of those, compared to one of the really nice suburbs with all the amenities and so forth not far from the CBD.
Unfortunately almost all today's immigrants only want to be city dwellers, so there's yer population increase causing increasing demand.
Is there a relationship between population growth and house prices.....absolutely. Karratha is a perfect example of supply and demand in motion. Perth is experiencing a demand lead upswing now and at some stage in the cycle one day even Sydney will follow
...wash your mouth out son....Perth follows Sydney, everything follows Sydney. Sydney is the leader of everything and in everything.
Get with the program.
as someone who has both bought and sold recently i agree with this, there is a pretty big difference between the market today and 6 months ago, or even 3 months ago
I'm very exposed to Syd and keep reading with dismay about Perth taking off. Great for WA investoprs though. Can't remember the last time Syd had DRAMATIC growth in rents and not sure what the next catalyst will be. The decent increases 3-4 yrs ago were good but nothing out of this world.
it's hard to say, it has so much natural attraction that I'm sure once the commodities boom rolls out and leveraged finance deals are fashionable again it will be all go. Plus the commodities wealth will wash around the nation. I can;t see it being a major structural collapse such as Coolgardie or Detroit.
interesting: http://en.wikipedia.org/wiki/Coolgardie,_Western_Australia
"At its peak, 700 mining companies based in Coolgardie were registered with the London Stock Exchange."
interesting: http://en.wikipedia.org/wiki/Coolgardie,_Western_Australia
"At its peak, 700 mining companies based in Coolgardie were registered with the London Stock Exchange."
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