Housing Crisis in Australia - Page 4

tw · 03-10-2008, 01:57 PM

Quote:

Originally Posted by lushchocolateswirl

That's what I said diddle I?

Why ask a question that only you can answer?

Nobody said you did or did not say anything. For a second reason, why the question that nobody else can answer?

Aliantha · 03-09-2008, 05:17 PM

lush, I think you could be right except for the fact that very few of these 'little boxes' are unoccupied which posits that they were required anyway.

The other alternative is to build more high rises closer to the city, but in general, the rents in those have traditionally priced most average income earners out of the market. Not to mention Australias fascination with family pets making inner city apartment living simply not feasible.

I think the real reason our urban sprawl is sprawling is our growing population. People need homes to live in and our cities till now have been comparitively small when you consider other capital cities around the world.

Also, times have changed. People are much more mobile and jobs require people to move much more than in previous generations. As John Howard once said, "Australians have never had it so good", and to a point he was right, although I think Johnny might have had his blinkers on at the time. Unfortunately, those good times are proving to be very tough times now, but we all know there's going to be hangover if you party too hard in the first place. (at least, the responsible ones among us do)

Ibby · 03-09-2008, 06:01 PM

little boxes, on the hillside, little boxes made of ticky-tacky...

classicman · 03-11-2008, 11:04 PM

Everything is bad - the sky is fallin .....run hide....

smoothmoniker · 03-11-2008, 11:26 PM

Everything is bad - the sky is fallin' ... buy Ultrashort Exchange Traded Funds.

xoxoxoBruce · 03-12-2008, 03:39 AM

Following the problems in the sub-prime lending market in America uncertainty has now hit Japan, in the last 7 days: Origami Bank has folded, Sumo Bank has gone belly up, Bonsai Bank announced plans to cut some of its branches, Karaoke Bank is up for sale and will likely go for a song, Shares in Kamikaze Bank were suspended after they nose-dived, 500 staff at Karate Bank got the chop, and analysts report that there is something fishy going on at Sushi Bank where it is feared that clients and staff may get a raw deal.

lookout123 · 03-12-2008, 12:13 PM

Quote:

Originally Posted by smoothmoniker

Everything is bad - the sky is fallin' ... buy Ultrashort Exchange Traded Funds.

Watch those very very closely. Those are meant for traders, not investors.

classicman · 03-12-2008, 07:45 AM

lol @ xob

smoothmoniker · 03-12-2008, 12:22 PM

Yeah, I've never really understood it when financial advisers say that. By looking at market conditions and realizing that things were going to go south, I invested heavily in ultrashort ETFs back in October (I like this one in particular: UltraShort S&P 500). I'm up 25% on my investment since then.

That's a 25% gain on capital in 4 months. How is that not an "investment" move?

hauystore · 03-12-2008, 12:27 PM

In Holland (where there are huge housing problems and it is extremely difficult for starters to buy a hous), it is 50% of your income.

xoxoxoBruce · 03-12-2008, 10:49 PM

Quote:

Originally Posted by hauystore

In Holland (where there are huge housing problems and it is extremely difficult for starters to buy a hous), it is 50% of your income.

Welcome to the Cellar, hauystore.

Is that 50% an average minimum for people buying their first house or the general average for everyone?

Clodfobble · 03-12-2008, 12:28 PM

Quote:

Originally Posted by smoothmoniker

That's a 25% gain on capital in 4 months. How is that not an "investment" move?

Because in theory it would be just as easy to drop 50% in a month as well?

glatt · 03-12-2008, 12:48 PM

My wife was just talking with some other parents at a little get together yesterday, and the discussion turned to putting additions on houses. One of the people mentioned that her friend is now paying over 70% of the family income on housing.

So this was my wife's friend's friend. I'm only 3 degrees of separation away from someone paying 70%, and now now all of you are 4 degrees away.

Griff · 03-12-2008, 03:38 PM

Quote:

Originally Posted by glatt

My wife was just talking with some other parents at a little get together yesterday, and the discussion turned to putting additions on houses. One of the people mentioned that her friend is now paying over 70% of the family income on housing.

So this was my wife's friend's friend. I'm only 3 degrees of separation away from someone paying 70%, and now now all of you are 4 degrees away.

You are using protection, aren't you?

glatt · 03-12-2008, 03:50 PM

I thought you were.

03-09-2008, 05:17 PM	#2
Aliantha trying hard to be a better person Join Date: Jan 2006 Location: Brisbane, Australia Posts: 16,493	lush, I think you could be right except for the fact that very few of these 'little boxes' are unoccupied which posits that they were required anyway. The other alternative is to build more high rises closer to the city, but in general, the rents in those have traditionally priced most average income earners out of the market. Not to mention Australias fascination with family pets making inner city apartment living simply not feasible. I think the real reason our urban sprawl is sprawling is our growing population. People need homes to live in and our cities till now have been comparitively small when you consider other capital cities around the world. Also, times have changed. People are much more mobile and jobs require people to move much more than in previous generations. As John Howard once said, "Australians have never had it so good", and to a point he was right, although I think Johnny might have had his blinkers on at the time. Unfortunately, those good times are proving to be very tough times now, but we all know there's going to be hangover if you party too hard in the first place. (at least, the responsible ones among us do) __________________ Kind words are the music of the world. F. W. Faber

03-09-2008, 06:01 PM	#3
Ibby erika Join Date: Apr 2006 Location: "the high up north" Posts: 6,127	little boxes, on the hillside, little boxes made of ticky-tacky... __________________ not really back, you didn't see me, i was never here shhhhhh

03-11-2008, 11:04 PM	#4
classicman barely disguised asshole, keeper of all that is holy. Join Date: Nov 2007 Posts: 23,401	Everything is bad - the sky is fallin .....run hide.... __________________ "like strapping a pillow on a bull in a china shop" Bullitt

03-11-2008, 11:26 PM	#5
smoothmoniker to live and die in LA Join Date: Feb 2003 Location: Los Angeles Posts: 2,090	Everything is bad - the sky is fallin' ... buy Ultrashort Exchange Traded Funds. __________________ to live and die in LA

03-12-2008, 03:39 AM	#6
xoxoxoBruce The future is unwritten Join Date: Oct 2002 Posts: 71,105	Following the problems in the sub-prime lending market in America uncertainty has now hit Japan, in the last 7 days: Origami Bank has folded, Sumo Bank has gone belly up, Bonsai Bank announced plans to cut some of its branches, Karaoke Bank is up for sale and will likely go for a song, Shares in Kamikaze Bank were suspended after they nose-dived, 500 staff at Karate Bank got the chop, and analysts report that there is something fishy going on at Sushi Bank where it is feared that clients and staff may get a raw deal. __________________ The descent of man ~ Nixon, Friedman, Reagan, Trump.

03-12-2008, 07:45 AM	#8
classicman barely disguised asshole, keeper of all that is holy. Join Date: Nov 2007 Posts: 23,401	lol @ xob __________________ "like strapping a pillow on a bull in a china shop" Bullitt

03-12-2008, 12:22 PM	#9
smoothmoniker to live and die in LA Join Date: Feb 2003 Location: Los Angeles Posts: 2,090	Yeah, I've never really understood it when financial advisers say that. By looking at market conditions and realizing that things were going to go south, I invested heavily in ultrashort ETFs back in October (I like this one in particular: UltraShort S&P 500). I'm up 25% on my investment since then. That's a 25% gain on capital in 4 months. How is that not an "investment" move? __________________ to live and die in LA Last edited by smoothmoniker; 03-12-2008 at 12:24 PM. Reason: added link to stock

03-12-2008, 12:27 PM	#10
hauystore Kinda New Member Join Date: Mar 2008 Posts: 1	In Holland (where there are huge housing problems and it is extremely difficult for starters to buy a hous), it is 50% of your income.

03-12-2008, 12:48 PM	#13
glatt ™ Join Date: Jul 2003 Location: Arlington, VA Posts: 27,717	My wife was just talking with some other parents at a little get together yesterday, and the discussion turned to putting additions on houses. One of the people mentioned that her friend is now paying over 70% of the family income on housing. So this was my wife's friend's friend. I'm only 3 degrees of separation away from someone paying 70%, and now now all of you are 4 degrees away.

03-12-2008, 03:50 PM	#15
glatt ™ Join Date: Jul 2003 Location: Arlington, VA Posts: 27,717	I thought you were.

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