Left wing political group orchestrating home buyers strike...

If buyers hold off and prices drop, what then happens when all these buyers who held off, plus more buyers who have become ready during this time, all suddenly rush back into the market to buy at 'the new cheap prices'?

The market might even drop a bit, but it will come right back.
 
Steve Keen supports this campaign.

I guess after 7 years of watching the market do the exact opposite of what he predicted, he now wants some outside factor to come in and finally prove him right.
 
BTW VYBerlinaV8 has hit the nail on the head with his posts.

Even if there WAS a slight drop in prices, some FHBs would jump in to take advantage and the market would simply move back again.

The idea that thousands of buyers would watch the market fall to some pre-conceived level and NOT act suggests a lack of understanding into human nature.

Anyway, if priced did fall, I'd be in there buying like crazy. That's the big irony here, it's property investors who would gain the most! Perhaps I should go post that at getup.
 
tubs said:
The idea that thousands of buyers would watch the market fall to some pre-conceived level and NOT act suggests a lack of understanding into human nature.
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Sorry to repeat again but now you mention human nature and greed the other side of the coin fear could play a part if this campaign was to have any success.

If the mainstream media starts to hypothesise on the effect of first home buyers leaving the market, say 50% of them (unrealistic without an external factor like lack of credit availability but that will not stop them hypothesising) and people read the likes of, 40% slup in prices over 2 years etc it may mean sellers become agitated if it combines with an already weak market.

Again I don't think it will have much effect on buyer intentions but it may if it goes into the mainstream have an effect on sentiment and what sellers may be prepared to sell for. They are driven by greed just like buyers so if they think it will have an effect and papers report it as such they will sell and a percieved problem can turn into a real one.
 
it just smacks of that petrol strike email doing the rounds a few years back - requesting readers refuse to buy petrol until it's under $1 a litre.

that worked....!
 
Aaron Sice said:
it just smacks of that petrol strike email doing the rounds a few years back - requesting readers refuse to buy petrol until it's under $1 a litre.

that worked....!
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Difference being that buying petrol is more or less essential on a day to day basis unless you make huge changes to your lifestyle.

If you decide not to buy petrol today you will still need to buy tomorrow. What is the other alternative?

If you don't buy a house today you can rent for just about as long as you want for a huge discount to buying until you are ready to buy.

If any petrol stations can offer an alternative to paying full petrol price at the pump for my motorbike I'm all ears... I would be happy to "rent" the fuel (returned via exhaust fumes) if that works for anyone?? :D
 
:confused:
hobo-jo said:
Difference being that buying petrol is more or less essential on a day to day basis unless you make huge changes to your lifestyle.

If you decide not to buy petrol today you will still need to buy tomorrow. What is the other alternative?
If you don't buy a house today you can rent for just about as long as you want for a huge discount to buying until you are ready to buy.

If any petrol stations can offer an alternative to paying full petrol price at the pump for my motorbike I'm all ears... I would be happy to "rent" the fuel (returned via exhaust fumes) if that works for anyone?? :D
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Sell your car and catch a bus

The equivalent of renting instead of owning your own home ?:confused:
 
hobo-jo said:
lol it was not GetUp that started the poll, I did. The suggestions area allows anyone to create a campaign suggestion for people to vote for.

I saw the home buyers strike on propser.org.au which is a non politically aligned organisation working toward economic justice and decided it was an idea worth spreading: http://www.prosper.org.au/about/
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So you started the poll under the user name Bullion Baron? So are you a potential first home buyer with concerns about affordability or are you an opportunist investor with an ulterior motive?

Not that there is anything wrong with being an opportunist investor, but there is something a little suss about trying to harness the collective sentiment of the disenfranchised FHB populace to further justify/enhance your own defensive position in bullion...
 
jaycee said:
:confused:
Sell your car and catch a bus
The equivalent of renting instead of owning your own home ?:confused:
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I guess everyones situation will differ, but it's cheaper for me to ride to work (motorbike) than to catch the bus. The bus is not an alternative for the family that has a kid or three where they need to drive all over town for sports, school, visit friends and other activities.

InnerWestie said:
So you started the poll under the user name Bullion Baron? So are you a potential first home buyer with concerns about affordability or are you an opportunist investor with an ulterior motive?

Not that there is anything wrong with being an opportunist investor, but there is something a little suss about trying to harness the collective sentiment of the disenfranchised FHB populace to further justify/enhance your own defensive position in bullion...
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I use the name Bullion Baron on my blog, it's not a secret (debbie?) ;)

I am not a first home buyer, but I am concerned about affordibility. I would like the opportunity to buy another home when I can do so for a reasonable cost (if that makes me an opportunist then so be it). I would also invest in housing if I could obtain a reasonable rate of return.
 
hobo-jo said:
lol it was not GetUp that started the poll, I did. The suggestions area allows anyone to create a campaign suggestion for people to vote for.

I saw the home buyers strike on propser.org.au which is a non politically aligned organisation working toward economic justice and decided it was an idea worth spreading: http://www.prosper.org.au/about/
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Ironic that someone espousing the equal distribution of wealth from land (as per the Prosper motto) is also in the business of hoarding natural commodities derived from...you guessed it LAND!

There is nothing magnanimous about what you are doing despite your consistent references to organisations such as Prosper and GetUp!. You are attempting to turn genuine 'un-affordability' sentiment from FHB's into a profit making opportunity as you have vested interests elsewhere. No problem, but let's call a spade a spade.
 
hobo-jo said:
I guess everyones situation will differ, but it's cheaper for me to ride to work (motorbike) than to catch the bus. The bus is not an alternative for the family that has a kid or three where they need to drive all over town for sports, school, visit friends and other activities.
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it is an alternative - it's a minimum form of personal transport.

you could use it very well - but it would not be AS CONVENIENT as a car.

much the same as it's MORE CONVENIENT for MOST people to BUY a house.

if the car is too expensive, you buy a smaller car or motorbike or even further, catch public transport.

much the same as if a house it too expensive, you buy a smaller one, or a flat, or you rent.
 
InnerWestie said:
You are attempting to turn genuine 'un-affordability' sentiment from FHB's into a profit making opportunity as you have vested interests elsewhere.
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If I owned my own property and was pushing the campaign then I would be first inline to agree with you. As it stands my push is moreso around my want to own again at a reasonable cost (you may see that as selfish, I wouldn't consider it a "profit making opportunity").

Honestly I would not be phased if I never owned a Residential IP, I will continue to invsest in other sectors, business opportunities and assets that have the potential for higher returns. If property yields rise to a reasonable level with room for capital growth in prices (at least inline with inflation) then I will consider buying at that time.
 
For those posters who think it is unfair that house prices continue to rise through the years.....

I wonder if when you finally get your own house, when you decide to sell down the track whether you would consider selling it for less than its market value so that the next generation has a chance to buy in at less than market value?

Surely, if there were enough of you who did that, the market would adjust and prices would stop going up.
 
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