Loan rates to hit 10%

[Guest guest30038]

the repo man ,is going to be really busy ,down under.

 

And you've full investor/accountant experience have you? I reckon he's gonna be a damn sight busier in Greece and Ireland. :yes:

 

As ye sow, so shall ye reap.

 

kev

[Guest chris955]

I don't think you need to be an accountant to know lots of people are going to be in lots of **** and it doesn't really matter if they are busier anywhere else as I'm sure they have their own repo men :wink:

 

And you've full investor/accountant experience have you? I reckon he's gonna be a damn sight busier in Greece and Ireland. :yes:

 

As ye sow, so shall ye reap.

 

kev

[Guest shark]

And you've full investor/accountant experience have you? I reckon he's gonna be a damn sight busier in Greece and Ireland. :yes:

 

As ye sow, so shall ye reap.

 

kev

they are busy in ireland /greece/and the uk.i have invested in property in the uk/ ireland ,i got burned ,i was one off those d ,that lessoned to speculators,like estate agents, developers,govement,you said it will never happen ,everything is looking great,on one house i have lost over 65%on the value,still paying the full value to the bank.you need to get your head out off the sand, it will happen,in Australia.what goes around, comes around.

[Guest shark]

 

sell ya house in australia NOW,and move into a rental--the bubble is going to burst,on the housing front--i reckon it will start to go down in 3 months,and drop by up to 30% in 18 months----theres not enough wool in aus to pull over my eyes--read the history of politics if your unsure:biggrin:theres no first time buyers entering into new stock in numbers to not justify a fall in the cost of housing.--america first followed by the uk,and eventually australia.

very good advice:notworthy:

[mr luvpants]

Hi. The 10% interest hike? Is that one mans speculation or is it a generally recognised thing that seems very likely to happen and is a bit more than speculation?

 

JOHN

 

Can anyone give me a definitive answer?

 

JOHN

[Guest gratom]

Just so people don't think that housing can never fall by 20%-30% plus.i yesterday saw some friends from Ireland---there property has fallen by 47%[on average] and up to 55% in less acceptable areas.He was in the property business-but now bust

[Guest Andy]

What are peoples views on the British housing prices, if we get sick of waiting for our visa,s and decide to stay i will be in the market for a property or a project as we are currently renting after selling last year, i suppose from my point of view i would want house prices to go down and hope to pick up something on the cheap!

[Guest sh7t man no way]

 

What are peoples views on the British housing prices, if we get sick of waiting for our visa,s and decide to stay i will be in the market for a property or a project as we are currently renting after selling last year, i suppose from my point of view i would want house prices to go down and hope to pick up something on the cheap!

in my opoion andy,the uk housing market will grow in price very slowly in the next 2 years,theres still a lot of a**e twicthing going on at the banks,and the growth of the country,is not in anyway way confident enough,for the housing bubble to inflate to its levels of 2007--having said that,there are some steals in the property market in the uk at the moment,and it could be worth it to get a smaller place,as a renovation,and rent it while you are in australia (it will happen mate)--this way you still have a foot hold,on a property in the uk,just incase in 10 years time the cost of housing follows the american dream,and goes to the silly price stage again

[Guest Andy]

in my opoion andy,the uk housing market will grow in price very slowly in the next 2 years,theres still a lot of a**e twicthing going on at the banks,and the growth of the country,is not in anyway way confident enough,for the housing bubble to inflate to its levels of 2007--having said that,there are some steals in the property market in the uk at the moment,and it could be worth it to get a smaller place,as a renovation,and rent it while you are in australia (it will happen mate)--this way you still have a foot hold,on a property in the uk,just incase in 10 years time the cost of housing follows the american dream,and goes to the silly price stage again

Great post sh7tman, thanks mate:wubclub:

[stevie ellis]

 

Great post sh7tman, thanks mate:wubclub:

I think you are planning a project eh Andy, go for it :cute:

[kernow43]

And you've full investor/accountant experience have you? I reckon he's gonna be a damn sight busier in Greece and Ireland. :yes:

 

As ye sow, so shall ye reap.

 

kev

Kev be careful, those words got me in a bit of trouble once with the mods!:jiggy:

[kernow43]

Hi. The 10% interest hike? Is that one mans speculation or is it a generally recognised thing that seems very likely to happen and is a bit more than speculation?

 

JOHN

It was the experts Commsec etc

[kernow43]

I sense that the general consensus has shifted to---'we are now falling off the cliff;how far is it down'.This is a very sensible change from the endless optimism that has got people into such debt;and will have the most catastrphic effects on their wellbeing and futures

As the OP you may be right, but if I was making a statement how a certain thing is going bad in the UK I am the doom & gloom merchant. But it seems to be different when we apply it to OZ

[heyyu]

i"ll wait and see:wink:according to statistics there is an undersupply of housing in oz,people still have to live somewhere and until supply outstrips demand,as it has done in ireland and uk the ball will keep rolling maybe not so fast,i remember 18%interrest and that didn't stop it.as of now the rate has not reached 10%,and it may not who can predict what the reserve bank will do

[Guest guest30038]

Can anyone give me a definitive answer?

 

JOHN

 

I doubt it. The Auistralian market is so unlike the European market. One man's assessment:Australian property prices to fall | The Globe Innovator > 2thinknow

 

Quote:

It seems highly probably, based on these factors, that within the window between now and 2011, properties in excess of $300,000 will fall by a margin of 20-25%.

I see little upside in an over-valued market for property until after 2011.

 

 

Australia property prices fall into recession | Australasia | News

 

Another quote: According to some reports, property prices in Australia will continue to fall into a property recession.

Property prices along the Sunshine Coast may see drops that are significant. Some estate agents are predicting a drop that is as large as 30% in the next 18 months.

 

 

The latter quote was from March 2008 and yet property prices have still continued to rise.

 

 

In my case, The valuation of my property is more than double what I paid to have it built 5 yrs ago. Now even if it does drop 30%, I would not go into panic mode. Property prices always have, and always will, increase over time. As I said previously, it's all about buying at the right time, and selling at the right time.

 

 

The worry for a new buyer is if they are buying at the wrong time...........they buy in, and then values fall...........but even then, it's only a worry if you intend to sell sooner, rather than later. If you sit tight, the price will eventually rise. .............it's whether you can afford to sit tight or not.

 

kev

[Guest guest30038]

i"ll wait and see:wink:according to statistics there is an undersupply of housing in oz,people still have to live somewhere and until supply outstrips demand,as it has done in ireland and uk the ball will keep rolling maybe not so fast,i remember 18%interrest and that didn't stop it.as of now the rate has not reached 10%,and it may not who can predict what the reserve bank will do

 

Notice how those who make money from property are always optimistic? The same with folk who enjoy life?

 

Seems the doom and gloom predicted by so-called experts on the GR has permeated the fabric of society of ordinary folk..............but I'm prepared to bet that those who know the property market are just as optimistic and happy as ever. they've seem it all before (the capitalist cycle) and they know that prosperity will come again.

 

If I had big money, I'd be putting silly offers in now on the sellers who are "bricking it" 'cause they've listened to all the doom and gloom predictions. If they don't accept the offer, nothing lost, there's always another seller who's bricking it. Once prices start to drop (if they do), get stuck in with those silly offers

 

kev

[Guest chris955]

Well if prices don't drop them Australian borrowing will get even higher, people are already getting mortgages of 7 or 8 times wages, could they reach 10 times ?

[Guest guest30038]

Well if prices don't drop them Australian borrowing will get even higher, people are already getting mortgages of 7 or 8 times wages, could they reach 10 times ?

 

Could be likely considering the number of fools who want it all now, now, now.

 

kev

[Guest chris955]

There are certainly a lot of people who must have the biggest and best house regardless of the cost and these are the ones who will be in trouble in a year or 2.

 

Could be likely considering the number of fools who want it all now, now, now.

 

kev

[Guest Aldo]

And you will always get the vultures waiting to pick on the bones of the unfortunate ones that cant afford mortgage repayments.

[kernow43]

And you will always get the vultures waiting to pick on the bones of the unfortunate ones that cant afford mortgage repayments.

in a way I wouldn't quite call them vultures, and don,t call them unfortunate but silly.

A lot of folk buy a house and think OK i'm alright Jack, but there are others who buy a house like buying shares. Buy when the market is down sell when up!

[Guest]

Notice how those who make money from property are always optimistic? The same with folk who enjoy life?

 

These are big sweeping statements and certainly there are vested interests on both sides of the argument. Trouble is, inflation no longer pays your mortage off. Inflation goes up, but your salary stays where it is. Get a promotion? Well that doesn't necessarily mean a salary hike. In the UK (according to goverment figures) I'm already in the top 10% earners in the country, but - because I didn't buy ten years ago and am not prepared to mortgage myself to the neck - a family sized house is unaffordable. In Australia I don't see that situation changing.

 

I'm not sure if it was on this thread but I read it somewhere (and I'm paraphrasing) "If property was such a great investment, the banks would be buying up houses and acting as landlords, rather than lending ever more money to us fools to take the risk". :Randy-git:

[shaunkaren]

We won't be buying in Australia for at least a year - having been caught out by the volatility of the UK housing market we live by the 'once bitten' strategy....

[Guest Andy]

And you will always get the vultures waiting to pick on the bones of the unfortunate ones that cant afford mortgage repayments.

That would be me then, i would have no problem buying a reposession, surley thats the name of the property game, buy when prices are low and sell when they are high.

[KIRK AND CO]

all sounds good if you have a lump sum to take withyou say £300,000 plus