Forum Replies Created
- Scamp wrote:Don't worry , I know a lot more than you think about the australian housing market. People are people.
Yes , I know your goverment is corrupt and your housing minister has 14 investment properties
Yes, I know you think (wish) there's a housing shortage, but in reality there are 800.000 empty dwellings. It just shows you haven't done research.
Your market is just like any other market, it goes up , and it goes down. It went up twice as hard as it should possibly have gone without government help ( tax incentives etc ), it will fall twice as hard as anywhere else.
Your market relies on money from outside coming in and buying the expensive houses. Poms are having a house crash as we speak, they won't buy the houses… who will ?
Prices won't crash as long as people don't sell. Ofcourse, we could all together agree with eachother that we don't sell ANY houses for less than 1.000.000, however that doesn't work when people start 'cheating' their way down because of panic.The housing market in Australia is not a supply/demand market at all, it's a fear/greed market.
In a boom ( upward cycle ) it goes like this :
The fear of not being able to own a house, the fear of missing the boat and being outpriced for the rest of your life, the greed from sellers who want more more more, the greedy who were too eager to make profit too fast and too irresponsible.In a crash ( downward cycle ) it goes like this :
Sellers fear not being able to pay off the interest rates, initially they fear not being able to sell, this turns into fear of losing money, this turns into fear of going bankrupt. The buyers on the other hand are greedy : They want MORE discount, lower prices, better locations and better quality houses.Which cycle do you think Australia is in now ?
This is my first post on here and I'm no seasoned investor like A LOT of you on here but I would like to say about the above Comment/ Input from SCAMP as well as his first input( which is what i meant to put up there
whoops!) and also GMH454's in put, that it is VERY INTERESTING and i can understand where you are coming from whether people on this forum believe SCAMP to have direct knowledge of the Australian market or not?
I live on the Gold Coast and have done for most of my life and it is the Fastest growing region in the Country and all that SCAMP has said most definably relates to My CITY there are people form everywhere you can imagine still buying here it's out of control and a lot of GOLD COASTERS are suffering we don't all drive Ferrari's and a lot of people we're scared into Borrowing to the hilt ( not me, my wife and i were sensible and didn't over commit) These people along with the tourists have mad it bad for themselves( with todays interest rate) and stuffed it for the rest of us none RICH that still live here on the Coast!
So in a way i have to say thank you SCAMP because there were/are a lot of Idiots here and Development Companies like STOCKLANDS have no problem in taking people's blood sweat and tears!!!
LASTLY i thank all on this forum it is very informative and look forward to reading and educating myself more!! Cheers
whoops!) and also GMH454's in put, that it is VERY INTERESTING and i can understand where you are coming from whether people on this forum believe SCAMP to have direct knowledge of the Australian market or not? 
