I stand corrected. 75% owned is actually above the average of 70% owned but may I ask, of those who own, do they own as individuals or couples, % wise.
Is is for the thesis.
Peter
Is Australia facing the first recession in 20 years?
- Thread starter hobo-jo
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I stand corrected. 75% owned is actually above the average of 70% owned but may I ask, of those who own, do they own as individuals or couples, % wise.
Is is for the thesis.
Peter
Oh; but we are so racist.
Makes you wonder if the rates did go that way,and anyone living off cash -generating products will be in real problems,when i started the rates were 19% but unemployment was very low,unlike today,even today when having a quick look at the Government Auctions on site i was told on the quite that the Qld Government Car Fleet Auctions will finish in 2 months,all the work force will be layed off,and all the Qld Gov Cars will be kept for 2 years not one as they now do,everywhere i go people are people are been given the "DCM",because of the shocking mess Labor left Qld in,God only help us if flash in the pan stardom of Gillard if they get another term..
I stand corrected. 75% owned is actually above the average of 70% owned but may I ask, of those who own, do they own as individuals or couples, % wise.
Is is for the thesis.
Peter
Well either of us could be right, it's not like I have a sample of thousands.
Out of the ten households I know that own, only two couples got together before buying. One couple own jointly and one as an individual. Five house owners are single. Of the couples that formed after one (or both) owned individually I imagine they are still all owned by individuals - I imagine just like straight couples.
From my experience gay couples do tend to keep more separate finances.
I can double your sample, living in what is becoming known as a gay suburb.
Most of the gay households (MM and FF) I know are not any different from the straight ones. Most have mortgages, half have little kids. And associated with these are the usual dramas that beset most of us.
The only difference I can discern is that the blokes tend to have neat houses.
Well,
As per this statistics data:
it seems that the national housing price rebound is still slowly developing not crashing. But when you read through this article from http://www.moneymorning.com.au/20121115/attention-investors-this-market-is-worse-than-it-looks.html
The situation is getting worse :-(
As per this statistics data:
it seems that the national housing price rebound is still slowly developing not crashing. But when you read through this article from http://www.moneymorning.com.au/20121115/attention-investors-this-market-is-worse-than-it-looks.html
The situation is getting worse :-(
Read more: http://www.theage.com.au/business/i...-pipe-dream-20121118-29k61.html#ixzz2CcsQnjzX
Further analysis from Leith at Macro Business: http://www.macrobusiness.com.au/2012/11/can-housing-construction-fill-the-void/
Quote is from the age article linked.
Ok. so my comment is JOBS.
If people have a job, feel secure in their job, then we may well see a Housing Boomish but I still fear the Rudd 2008 FHO Push brought a heap load stock on the market that exhausted demand, especially in Melbourne.
VIC is stagnant re economic activity as whole. We don't have mining and agriculture is in recovery after years of drought.
Housing wise this translates Traditional Builders I know looking for jobs. Developers offering "deals"on land sales like pay your stamp duty, new car, pay your 10% builders deposit.
But who knows, in the end, keep your own job and you will have opportunities.
Peter
If people have a job, feel secure in their job, then we may well see a Housing Boomish but I still fear the Rudd 2008 FHO Push brought a heap load stock on the market that exhausted demand, especially in Melbourne.
VIC is stagnant re economic activity as whole. We don't have mining and agriculture is in recovery after years of drought.
Housing wise this translates Traditional Builders I know looking for jobs. Developers offering "deals"on land sales like pay your stamp duty, new car, pay your 10% builders deposit.
But who knows, in the end, keep your own job and you will have opportunities.
Peter
Just came back from a property conference on Friday last week where one of the key speakers was a senior economist from the CBA.
Recession? Australia? You have to be joking. Obviously this is the spin of the X & Y generations are putting on it, our current economic conditions don't even rate on the world scale of up sheep creek or drowning in debt.
Recession? Australia? You have to be joking. Obviously this is the spin of the X & Y generations are putting on it, our current economic conditions don't even rate on the world scale of up sheep creek or drowning in debt.
Given CBA's massive exposure to residential property loans and the likelihood that a recession could put them under severe pressure, you don't think they'd have any reason to present a particular bias in order to maintain confidence (if only as a facade to keep people buying their shares)?
re debt:
http://www.macrobusiness.com.au/2011/12/we-are-all-keensians-now/
The IMF has been singing the praises of our banking system for some time, most recently this...
"Dr Cheng said the stress tests conducted by the IMF showed Australia’s banks would hold up even in the event of a 5 per cent drop in GDP and 35 per cent fall in house prices."
which by even most chicken little's, is a massive decline in house prices.
Purely anecdotal, but I sold a flat on the weekend that I've owned for a while and there were 4 bidders. The Melbourne market isn't so bad at the moment and another rate drop will see further enthusiasm.
You need to pay less attention to the macro level economics and put all that energy you use in studying that into how you can make money out of realestate. For example, buying a small house on a block (a land value house) where you can build something in the backyard and then perhaps onsell with plans or perhaps buying an older style flat that you can add value to and get increased yield. Rather than finding issues with the bigger picture look at ways you can make money out of realestate.
It really is the easiest way to grow your wealth.
"Dr Cheng said the stress tests conducted by the IMF showed Australia’s banks would hold up even in the event of a 5 per cent drop in GDP and 35 per cent fall in house prices."
which by even most chicken little's, is a massive decline in house prices.
Purely anecdotal, but I sold a flat on the weekend that I've owned for a while and there were 4 bidders. The Melbourne market isn't so bad at the moment and another rate drop will see further enthusiasm.
You need to pay less attention to the macro level economics and put all that energy you use in studying that into how you can make money out of realestate. For example, buying a small house on a block (a land value house) where you can build something in the backyard and then perhaps onsell with plans or perhaps buying an older style flat that you can add value to and get increased yield. Rather than finding issues with the bigger picture look at ways you can make money out of realestate.
It really is the easiest way to grow your wealth.
Given CBA's massive exposure to residential property loans and the likelihood that a recession could put them under severe pressure, you don't think they'd have any reason to present a particular bias in order to maintain confidence (if only as a facade to keep people buying their shares)?
re debt:
http://www.macrobusiness.com.au/2011/12/we-are-all-keensians-now/
The charts 3 years old, GDP has been steadily growing and housing finance stagnating, do you have figures relevant to today?
Although growth in the mortgage market is at 35 years lows it is still growing faster than GDP, so I assume the mortgage debt to GDP ratio in Australia is higher now than in the chart above.
If you are interested you can check the figures for yourself.
RBA Lending and Credit Aggregates:
http://www.rba.gov.au/statistics/frequency/financial-aggregates.html
ABS GDP Figures:
http://www.abs.gov.au/ausstats/[email protected]/mf/5206.0
According to your friends at Macrobusiness in the same article they have private debt is stagnating since 2008 and we are "dis-leveraging".
http://www.macrobusiness.com.au/2011/12/we-are-all-keensians-now/
GDP is pretty much on trend.
You need to chart it off the same base, not just assume the percentage is now higher.
Extrapolating 1 years figures back 3 years is also completely misleading.
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Who is extrapolating 1 years figures back 3 years? What are you talking about?
I posted a chart showing that our mortgage debt to GDP is high relative to other countries, you imply things have changed since 2009 (due steadily rising GDP, stagnating housing finance), but you are wrong (it's still around 85%)...
Re "dis-leveraging", they can call it whatever they like, the level of debt is still rising.
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CBA are also selling australian mortgage backed securities overseas as part of a CDS/CDO scheme.
Quite simply,you posted a 3 year old chart, to be up to date you need 3 years of statistics charted not 1 year as you linked to.
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A) The 'Lending and Credit Aggregates - D2' spreadsheet on the RBA page I linked has mortgage data going back to 1990.
B) The downloads tab on the ABS page I linked has GDP data going back even further.
C) I didn't extrapolate anything.
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