"A banker is a fellow who lends you his umbrella when the sun is shining and wants it back the minute it begins to rain." - Mark Twain. Lots of houses starting to show for sale signs...
With all the millionaires in Australia it's hard to imagine anyone is struggling. Gas just went up 14% and a host other utilities not to mention the duopoly loving the profits. Australia is looking great.
@@williamcrossan9333 Brisbane is nuts. I was out on Sunday afternoon at Howard Smith Wharves and couldn't get over how many people were out and about spending money on food and alcohol like it's going out of fashion!
@@williamcrossan9333 there’s definitely a lot of people struggling but equally I’m seeing packed shopping centres, packed roads, packed bars and restaurants and everyone seems to be in Europe at the moment too so there’s a lot with a lot of money. Who knows where it will all end but it’s looking like the wealth gap will continue to grow in the meantime.
Well, in any case, anyone who bought 3 to 4 years ago can sell at massive profits anyway. Mortgage arrears is still pretty low. This is not the black swan event many are hoping for (in order for shelter to become more affordable). The government, banks, and RBA will not simply stand by and watch house prices fall by any significant amount. Even a 20% fall will be welcome, but housing will still be unaffordable for many. Brisbane is up 70% since 2018. Some Perth suburbs almost double 2019 prices. The government will do EVERYTHING in their power if house prices get to 5% down.
Yep agree with you on this. I reckon if there's even a sniff of price reductions more broadly at a national level the reaction by the powers that be will be to massively over compensate to show support to he housing market and this will be the green light to go all in and I think that prices will go significantly higher than they are now and in fact we'll probably wish for todays prices as they'll seem so cheap comparatively.
Really?? So ppl lose their home & enter the rental market pushing rentals up even more. Yes it will be bad. Not everyone purchased their home at lower prices & have experienced exponential growth.
@.53 your graph shows stable prices , up un till 2017 , when trump pumped 7 trillion into the repo market . so it was not the bug that was not the problem
Pumping 7 trillion into the repo market had less to do with Trump, and everything to do with saving the repo market from exploding. Necessary existential actions are not dependent on who occupies the White House.
Graph 3.8 - Investors in Negative Equity (30%+ of new loans written c2020). (RBA 2023). rba gov au publications fsr 2023 apr household business finances html
But this chart was quite disturbing RBA Chart Pack -- Lending to Selected Industries (Rental) -- June 2024 rba gov au chart pack pdf chart pack pdf (released June 2024)
The sheeple went from panic buying toilet paper to panic buying houses.
"A banker is a fellow who lends you his umbrella when the sun is shining and wants it back the minute it begins to rain." - Mark Twain. Lots of houses starting to show for sale signs...
More interest rates rises coming soon.
God willing.
I reckon.
they cant do it..they are stuck
@@MegaMr28
You ain't seen nothing yet.
@@MegaMr28 Bond markets ultimately decide rate direction. Rates are headed into the teens.
With all the millionaires in Australia it's hard to imagine anyone is struggling. Gas just went up 14% and a host other utilities not to mention the duopoly loving the profits. Australia is looking great.
one mans inflation , is a another mans profit
Based on how freaking busy Brisbane is these days (traffic), it does seem like everyone except aircraft maintenance mechanics have become crazy rich!
@@williamcrossan9333 Brisbane is nuts. I was out on Sunday afternoon at Howard Smith Wharves and couldn't get over how many people were out and about spending money on food and alcohol like it's going out of fashion!
@@jezg084 Yes! Indeed. I hear so many people thinking the economy has collapsed. It's just not what I'm seeing.
@@williamcrossan9333 there’s definitely a lot of people struggling but equally I’m seeing packed shopping centres, packed roads, packed bars and restaurants and everyone seems to be in Europe at the moment too so there’s a lot with a lot of money. Who knows where it will all end but it’s looking like the wealth gap will continue to grow in the meantime.
Magnificent presentation thank you compulsory listening
Australia is soo wealthy, so WHY can’t we afford to live ?
because people think numbers on paper are real
because we have a birth certifiacate!
the gubberment sold it all off
averages are skewed by a few with a substantially high number, a decent number are politicians too
Well, in any case, anyone who bought 3 to 4 years ago can sell at massive profits anyway.
Mortgage arrears is still pretty low. This is not the black swan event many are hoping for (in order for shelter to become more affordable).
The government, banks, and RBA will not simply stand by and watch house prices fall by any significant amount. Even a 20% fall will be welcome, but housing will still be unaffordable for many. Brisbane is up 70% since 2018. Some Perth suburbs almost double 2019 prices.
The government will do EVERYTHING in their power if house prices get to 5% down.
Yep agree with you on this. I reckon if there's even a sniff of price reductions more broadly at a national level the reaction by the powers that be will be to massively over compensate to show support to he housing market and this will be the green light to go all in and I think that prices will go significantly higher than they are now and in fact we'll probably wish for todays prices as they'll seem so cheap comparatively.
Love it that you keep asking the why question Martin.
why , is the most important word ever written
WEF in action as they need to keep you poor
Interesting data. Thanks for the vid Martin!
It surprises me to see high LVR is much more risky than high DTI.
Oh plllllllease.. Im mortgage arrears when they can sell at a 200%+ profit? Poor wee possums. Cry me a river. 🎻.
Who will pay 2 million for a match box
@@lazyverylazypeople didn’t realise they were trading their house for tulip right at the end of mania.
That’s only true for investors
Really?? So ppl lose their home & enter the rental market pushing rentals up even more. Yes it will be bad. Not everyone purchased their home at lower prices & have experienced exponential growth.
@@richardminhleThats a real Dutch oven!
Hello Martin 🙂
There's a lot to be said for renting at this present time. PS. Where's our friend John?
1893 2.0 incoming fast. Learn to eat rabbit and turnips.
Nothing wrong with rabbit stew
cabbage soup
Have you seen the the size of rabbits in Australia, they are fkn huge, no one is going to starve, Welcome To Woop Woop!
Falling behind on their fockin second and third home. This country is doomed.
Someone I know is falling behind on forth joint.
It'll be ok though, my plan is coming together.
Gosh
Funny.
Golly gosh
@.53 your graph shows stable prices , up un till 2017 , when trump pumped 7 trillion into the repo market . so it was not the bug that was not the problem
Pumping 7 trillion into the repo market had less to do with Trump, and everything to do with saving the repo market from exploding.
Necessary existential actions are not dependent on who occupies the White House.
Senate Economics Committee - Housing and Homeslessness Plan is taking submissions til first week in August 2024....
Interest rates have to return to normal!
Too the fucking moon
If you are in arrears on your mortgage, stop spending money you dont have.
woof woof Marty LOL
Graph 3.8 - Investors in Negative Equity (30%+ of new loans written c2020). (RBA 2023).
rba gov au publications fsr 2023 apr household business finances html
But this chart was quite disturbing
RBA Chart Pack -- Lending to Selected Industries (Rental) -- June 2024
rba gov au chart pack pdf chart pack pdf (released June 2024)