By: jaymarcel
2 days ago (Tuesday, 7:24 am) Yahoo! Profile:
jaymarcel Did this message offend you?
Sign in to report abuse |
Reply to this message |
| From what I've heard most of the FTB required a decent deposit & proof of job security before the banks would lend them money so it seems the the GFC has had some good effects on the banks to be less flipent on who & how much they lend. |
|
By: jaymarcel
2 days ago (Tuesday, 7:07 am) Yahoo! Profile:
jaymarcel Did this message offend you?
Sign in to report abuse |
Reply to this message |
| Hi qitulong, What dangers are you talking about, 21st Dec 2012, sorry I'm not a believer I only go on the facts. |
|
By: qitulong
3 days ago (Monday, 11:46 pm) Yahoo! Profile:
qitulong Did this message offend you?
Sign in to report abuse |
Reply to this message |
Hello Mr. jaymarcel.
Seems to me you thinking all is like dream now..
More like nightmare I am thinking.
Wait and see it!
Now is going to be worst part of the nightmare. Part where everyone feeling safe when really danger is just below surface and only few see truth,
Then sudeenly danger become reality and panic set in....
Most of them First Time Buyers Fooler BIG for sure mate! |
|
By: jaymarcel
3 days ago (Monday, 8:29 am) Yahoo! Profile:
jaymarcel Did this message offend you?
Sign in to report abuse |
Reply to this message |
Hi dr.xingli,
Thanks yes I had a great time at the beach.
I wouldn't say being given $21,000 to buy a house was a bad time to buy property (especially during a recovery time like now).
With interest rates at historical lows & job security getting better by the day this could have been the last chance to get onto the property ladder as the next boom makes FHB extinct & forces them into renting for life while china force feeds our pockets & house price are driven higher during the next resource boom. |
|
By: dr.xingli_writes
4 days ago (Sunday, 8:41 pm) Yahoo! Profile:
dr.xingli_writes Did this message offend you?
Sign in to report abuse |
Reply to this message |
Hello jaymarcel!
Hope your weekend trip to the Sunshine Coast and the Gold Cold coast is fun and enjoyable.
You wrote -
"If you own a property but are advising others not to buy you are a hypocrite!"
The problem with such statements is that they are biased.
In the case of a person who has bought property wisely, what you stated might indeed be true. However, as you and I both know. Many, many people do not buy wisely. Instead, they buy property at the wrong time, (for example in the current economic situation while property prices are greatly inflated far above the value which the economy can support) at the wrong price, etc. In such cases, people would indeed be right to encourage others NOT to do the same thing.
That is - NOT to but property! |
|
By: jaymarcel
17/11/2009
7:54 am Yahoo! Profile:
jaymarcel Did this message offend you?
Sign in to report abuse |
Reply to this message |
Fooled into buying the best security of their life?
Fooled into having no money going out to accommodation when they have finished paying off the mortage?
Fooled into having a place to call home while their kids grow up?
We all know who the fools are!
If you own a property but are advising others not to buy you are a hypocrite! |
|
By: guy.longshank1
16/11/2009
4:17 pm Yahoo! Profile:
guy.longshank1 Did this message offend you?
Sign in to report abuse |
Reply to this message |
| Yes! They certainly HAVE BEEN fooled... |
|
By: mentawaisurf
12/11/2009
1:23 pm Yahoo! Profile:
mentawaisurf Did this message offend you?
Sign in to report abuse |
Reply to this message |
The scene is set for a home construction boom after a record number of Australians rushed to take advantage of the First Home Owners Boost in September before the scheme was wound back from October.
In September more than 49,000 Australians took out mortgages for purposes other than refinancing, a seasonally adjusted record...
http://www.theage.com.au/business/boom-in-new-home s-on-the-way-20091109-i5d7.html
'Lambs to the slaughter' Meaning; In an unconcerned manner - unaware of any impending catastrophe. |
|
By: firefly_au
10/11/2009
10:49 pm Yahoo! Profile:
firefly_au Did this message offend you?
Sign in to report abuse |
Reply to this message |
| LOL isn't it that stuff you buy from China to keep the water out of a window frame he he :) |
|
By: almurrie1@y7mail.com
10/11/2009
4:34 pm Yahoo! Profile:
almurrie1@y7mail.com Did this message offend you?
Sign in to report abuse |
Reply to this message |
Does anyone know what a cieling is? I don't know of any property that has a cieling.
But I do agree with you Steve (quote) "that they can rise and rise forever", because we have a Reserve Banking system that requires increasing inflation and then wages and prices to rise and rise forever, to function. The average person has no idea that they are being diddled, but of course they will say with the combined intellect of one sheep, my house has gone up in value - therefore I am richer!
Al |
|
By: lasty49
10/11/2009
12:20 pm Yahoo! Profile:
lasty49 Did this message offend you?
Sign in to report abuse |
Reply to this message |
Stevebwilson,
Im impressed by your optimism on yet another sad day for the bears.. you must hate that word "rally".
Anyway your time will come to bask in the sun but I think its going to be sometime next year rather than in 2009. |
|
By: stevebwilson1
10/11/2009
12:15 pm Yahoo! Profile:
stevebwilson1 Did this message offend you?
Sign in to report abuse |
Reply to this message |
To anyone owning property!
Whether it be your home or an investment. I say - Harken ye to reality. Listen not to those who would have you believe that property prices have no cieling. That they can rise and rise forever.
For can you not see that soon, the economic disaster which I and many otehrs have be warning of shall soon come to pass. And the result of this shall be a major adjustment in the manner in which we all live.
With most if not all of your retirment savings tied up in property, do you now wonder at what might happen should market conditions indeed adjust downward as I have mentioned and leave you with a property valued at far less than that which you had anticipated?
Be alarmed!!
The economic outlook is far from good. |
|
By: puyi
8/11/2009
2:43 am Yahoo! Profile:
puyi Did this message offend you?
Sign in to report abuse |
Reply to this message |
Thu, Nov 05, 2009
AsiaOne
At the Real Estate Developers' Association of Singapore (REDAS) 50th anniversary dinner tonight, Senior Minister Goh Chok Tong said housing board flats will remain the foundation of Singapore's home ownership scheme.
This is in line with his vision for Singapore: 'A Distinctive City, A Harmonious Home'.
"The Government will continue to ensure that public housing remains affordable to the vast majority of Singaporeans. The current household income ceiling of $8,000 means that about eight in ten Singaporean families are eligible for HDB subsidies. We will also continue to factor in the increasing demand from Permanent Residents in the resale market," he said.
SM Goh said: "For those who are worried over the recent price increases, MND tells me that there is adequate supply of homes in the pipeline both in the central region as well as outside it. The Government is also committed to releasing more land through the Government Land Sales Programme to ensure that property prices do not fall out of sync with economic fundamentals."
For businesses, we must be able to offer two things. First, we will keep our rentals competitive compared to key financial hubs like Hong Kong, Shanghai, London, and New York.
Second, our city must be able to offer not just Grade A offices in the Central Business District but also cheaper office solutions at the fringe of the city centre. This will give companies greater flexibility and cater to their different business needs." |
|
By: puyi
8/11/2009
2:33 am Yahoo! Profile:
puyi Did this message offend you?
Sign in to report abuse |
Reply to this message |
By Hoe Yeen Nie & Jeremy Koh,
Channel NewsAsia | 07 November 2009
SINGAPORE: National Development Minister Mah Bow Tan on Saturday repeated his assurance that there is an ample supply of housing in the market.
This comes a day after the government announced it was offering more residential sites for sale next year.
Along with another 60,000 units in the pipeline, the government says there is no shortage of new homes.
Mr Mah said: "It's hard for me to predict what prices will be like, but what I do know is that there is ample supply so therefore there is really no reason for there to be a rush, a panic to buy. And that in itself will help to moderate prices."
The worry now, he explained, is whether there is an under-supply in the market. Hence, the government will release enough land to meet medium-term demand, and let the market decide.
On public housing, one issue that has drawn attention was the housing board's latest annual report, which showed a deficit of S$2 billion.
The amount is twice that of the previous financial year.
Mr Mah said the HDB makes a loss each time it gives out subsidies to first-timer home buyers, and when it sells flats lower than their cost price. The reason for the high deficit was because more flats were offered for sale last year, compared to the year before.
"The question is of course, should HDB be making a loss? The answer is yes," said Mr Mah. "It is making a loss and the government gives it grants every year to cover the losses, mainly because we're giving subsidies to people to buy flats to make flats affordable to first timers. That is why we're making a loss." |
|
By: puyi
8/11/2009
2:07 am Yahoo! Profile:
puyi Did this message offend you?
Sign in to report abuse |
Reply to this message |
Channel NewsAsia - Saturday, November 7
SINGAPORE: The Singapore government is boosting the supply of private residential sites in the first half of next year.
It has announced new sites for sale, which could yield over 10,500 homes — the highest number of units since the Government Land Sales (GLS) Programme started in the second half of 2001.
The Urban Redevelopment Authority (URA) said on Friday that in deciding supply, it looks at market conditions and medium—term demand.
While demand has cooled off slightly, following high prices and moves by the government to curb a speculative bubble, observers believe the property market is on the mend.
Located at Buangkok, Yishun, Choa Chu Kang, Tampines, Boon Lay, Simei, Sembawang and Upper Serangoon, these sites could see nearly 3,000 new homes built, all aimed at the mass market.
Donald Han, managing director of Cushman & Wakefield, said: "A lot of these are mainly to tackle the concern if prices get out of synch in terms of market fundamentals, and if they get out of reach of the common people. |
|
By: puyi
6/11/2009
4:31 am Yahoo! Profile:
puyi Did this message offend you?
Sign in to report abuse |
Reply to this message |
AAP November 5, 2009
The federal government must urgently stump up more cash to help combat a housing repossession crisis, says NSW Attorney-General John Hatzistergos.
Figures released by the NSW Supreme Court on Thursday show the number of householders facing court to save their homes is on the rise, but Mr Hatzistergos says many are being denied legal aid.
The problem stems from an $80 million drop in federal funding since 1996-97.
As the number of repossessions grows, the NSW Attorney General and NSW Legal Aid are calling for federal funding to be restored to previous levels.
"It just cannot continue in this way when more and more demand is being met with less and less resources on the part of the commonwealth government," Mr Hatzistergos told reporters on Thursday. |
|
By: jaymarcel
5/11/2009
1:30 pm Yahoo! Profile:
jaymarcel Did this message offend you?
Sign in to report abuse |
Reply to this message |
| Hi rodney, Mr Kenn is printing tee-shirts for you, steve & menta as we speak. |
|
By: lasty49
5/11/2009
12:39 pm Yahoo! Profile:
lasty49 Did this message offend you?
Sign in to report abuse |
Reply to this message |
Meanwhile back in tent city as those who are waiting eagerly for a dramatic drop in house prices are getting nervous that people havent panicked and wont sell their homes.
The CO2 levels are rising and the ice caps are melting ..the tents will be flooded.. they cant wait any longer.. Chicken Licken is about to happen.
Al Gore has them spooked as well. |
|
By: rodneysaviour2
5/11/2009
12:22 pm Yahoo! Profile:
rodneysaviour2 Did this message offend you?
Sign in to report abuse |
Reply to this message |
THE DAMAGE IS ALREADY DONE
I am sure that many of those who grabbed the "Government House Purchase Carrot" have now realised their mistake.
Now saddled with debt at a time when our economic future is far from assured, (to say the least) and facing what seem to be ever increasing payments as a result of the increasing interest rate few now look so happily upon the purchase of what they had hoped would be their DREAM HOME.
Sad it is. |
|
By: jaymarcel
5/11/2009
7:53 am Yahoo! Profile:
jaymarcel Did this message offend you?
Sign in to report abuse |
Reply to this message |
| In Australia you still have to prove to the bank you have a job & can afford the repayments, which apparently was not the case in the USA. |
|
By: craigaharwood
4/11/2009
10:06 am Yahoo! Profile:
craigaharwood Did this message offend you?
Sign in to report abuse |
Reply to this message |
I think housing prices are not as much about supply of housing but supply of money and demand. For some reason many people will borrow as much as the bank is prepared to lend them and remeber banks are different to what they were in the 70's.
Banks are in the business of selling money responsible lending went out the doors many years ago. The responsibility is not to the borrower its to the shareholder ie if we lend the money and they can't repay it do we have an assets that we can sell to recover all plus more of our funds. |
|
By: jaymarcel
4/11/2009
9:49 am Yahoo! Profile:
jaymarcel Did this message offend you?
Sign in to report abuse |
Reply to this message |
'Monthly payments rise Average monthly loan repayments for a typical first-home mortgage rose to $2087 in the quarter from $1983'
I don't know of anyone paying that much, put into context thats an extra $25 a week, if this causes a problem then the banks really are lending too much to the wrong people. |
|
By: jaymarcel
4/11/2009
9:00 am Yahoo! Profile:
jaymarcel Did this message offend you?
Sign in to report abuse |
Reply to this message |
Hi puyi, I'm not sure that I agree with the statement migrants will return overseas due to housing affordability, the answer is for them to rent like anyone else that can't afford to buy.
You don't emigrate to a new country just so you can own a house, otherwise they would all emigrate to a cheap asian or cheap european country. |
|
By: puyi
4/11/2009
8:51 am Yahoo! Profile:
puyi Did this message offend you?
Sign in to report abuse |
Reply to this message |
Housing affordability worsens
Author: Chris Zappone, SMH
Date: October 29, 2009
Housing affordability for first-home buyers worsened again in Australia in the September quarter, as record low interest rates and government grants stoked demand, a report shows.
Rising urban house prices are already prompting some recent migrants to consider returning overseas, while potential immigrants are being discouraged.
The affordability index dropped 3.3 per cent in the September quarter, following a 5 per cent slide in the June quarter, according to the Housing Industry Association and Commonwealth Bank, which compiled the data.
The deteriorating housing affordability tends to hit the lower end of the market most, said the Victorian chief executive of the Sacred Heart Mission Michael Perusco.
''It's irresponsible to see the housing markets only as an investment tool,'' Mr Perusco said.
''The sooner we learn that, the sooner we're going to learn that having a group locked out is no good for anyone and starts to have broader consequences," he said.
Mr Persuco said Sacred Heart's job of finding accommodation for homeless individuals and couples was getting more difficult.
Monthly payments rise Average monthly loan repayments for a typical first-home mortgage rose to $2087 in the quarter from $1983, an increase of 5.2 per cent, HIA said.
"If we don't succeed in significantly lifting the level of new home building over the next few years then there is a very real risk that we will return to the woeful affordability levels of 2007 and 2008," Mr Phillips said.
The weighted average of home prices increased 4.2 per cent in the June quarter, according to the latest official data. |
|
By: jaymarcel
2/11/2009
1:59 pm Yahoo! Profile:
jaymarcel Did this message offend you?
Sign in to report abuse |
Reply to this message |
| I agree with you there al, I think anyone with no obviou intention of working should be placed in these little country town to sit around & do nothing all day if that is what they choose, leaving the public housing in the city available to the real needy such as the retired, the lower wage workers, single mums etc. all who still deserve/need access to the facilities of the city/suburbs. |
|
