Seriously will Syd ever stop going up?

I think if you wait a few years when people's fixed loan runs out and interest rate goes up by that time. There's going to be desperate sellers. There's a lot of people who haven't accommodated for higher interest rates just to get into the market and I can't see rates going up for another year I believe. There has to be a reason for them to lift rates. Australia is going through a good period.
Now that the banks have cracked down on lmi and only allowing 80% funding. Will slow developers/investors which will slow market down.
If you choose to sell now which is high. Your going to buy high. So it will just cancel it's self out.

Just my thoughts

Chompa where did you think these people are going to live if they sell? In a few years wages would have increased and their principal would have decreased. It's unlikely that people will simply sell when their fixed rates expire!
 
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Fadi
I wasn't saying everyone. I was generalising. You don't have to take things so personally. Peoples Wages?? Now your speculating on what people are going to earn. Right now people can afford to buy. Why is that Fadi?? Because interest rates are at it lowest. Why not before interest were cut this low??
I believe not many people will accommodate for the higher interest rate. Plus you say wages will change. But so does peoples lifestyles change. I. E
Additions to family, loss of jobs (job cuts)
See what I'm doing SPECULATING.
 
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Fadi
I wasn't saying everyone. I was generalising. You don't have to take things so personally. Peoples Wages?? Now your speculating on what people are going to earn. Right now people can afford to buy. Why is that Fadi?? Because interest rates are at it lowest. Why not before interest were cut this low??
I believe not many people will accommodate for the higher interest rate. Plus you say wages will change. But so does peoples lifestyles change. I. E
Additions to family, loss of jobs (job cuts)
See what I'm doing SPECULATING.

Chompa where is all the money coming from to buy all these properties and push up the price?????? Do you think the chinese care about interest rates?
 
Chompa where is all the money coming from to buy all these properties and push up the price?????? Do you think the chinese care about interest rates?

personally i think there will be a bit of what chompa is describing, the extent is what is up for debate/speculation i guess.
 
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What facts do you have???
Only Chinese are buying houses??
People can't sell houses and rent??
Seriously this forum is about debating not bloody heros
 
What facts do you have???
Only Chinese are buying houses??
People can't sell houses and rent??
Seriously this forum is about debating not bloody heros

so what happens when everyone sells and start renting? Rents go through the roof! So then they cant afford to buy or rent? Gee we are going to have a big homeless issue ay lol wake up bro
 
Why does everyone have to sell or rent??
You can't afford to live in Northern beaches move out west. Accommodate your life style. There's a heap of units going up massive development. And hey according to you all our wages are going to go up. Whoo hoo
Thanks treasurer
 
so what happens when everyone sells and start renting? Rents go through the roof! So then they cant afford to buy or rent? Gee we are going to have a big homeless issue ay lol wake up bro

is this supporting a proposition that prices rise forever? If not what stops it? And conversely for a falling market.
 
Hasn't Sydney just started going up? II remember the late 90's and early 00's when Sydney was going up and people were asking the same questions. Yes it will stop going up, but considering this growth started around 2012, there is probably more growth in it.

It flat linned for a few years.
 
is this supporting a proposition that prices rise forever? If not what stops it? And conversely for a falling market.

Not at all. My point was to chompa who has no idea that just because interest rates will go up that doesnt mean we will see a mass exodus. Thats just hysteria caused by the media.
 
Lol!! I have nothing against Mt Druitt but cmon!! $1m!!

For $1m you buy a lifestyle in the Druitt. You get big house with big land. $1m bucks in the city gets you a shoebox or if you're lucky a roach infested terrace with no parking.

The choice is yours....live with the roaches or the bogans.
 
Not at all. My point was to chompa who has no idea that just because interest rates will go up that doesnt mean we will see a mass exodus. Thats just hysteria caused by the media.

yeh I don't see rates so much the problem as high prices. Read today somewhere, the cure for high prices is... high prices.
 
Is there a train from Mt Duritt to the CBD?

Is there a freeway to Mt Duritt to the CBD?

I wouldn't spend a million dollars to live anywhere but I would consider living in Mt Durrit with the bogans (quite like bogans) if the above is satisfied.

Probably never live in Sydney because of the humidity. I just love Melbourne weather too much.
 
Train yes. Freeway .... Sorta....the dckhead govt made it a little shortof the city. There are tollways but they will set you back a million bucks over time lol
 
The far western suburbs of Mount Druitt and surrounds will likely be the most exposed to mortgage deliquency later on. These areas will feel the pinch most when rates go up.

Unless the buyer of that house was a cash-only foreign buyer, I'd imagine the buyer who paid $1mill for it will struggle in the coming years.
 
The far western suburbs of Mount Druitt and surrounds will likely be the most exposed to mortgage deliquency later on. These areas will feel the pinch most when rates go up.

Unless the buyer of that house was a cash-only foreign buyer, I'd imagine the buyer who paid $1mill for it will struggle in the coming years.

Yup I think so too... What is the averages household income over there.... When rates goes up, I do think that area will go bust
 
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