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Jun 12, 2018 05:06
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And I'm out. I wonder what the job situation is in New Zealand.
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Jun 12, 2018 05:11
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uhhh wut?
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Jun 12, 2018 05:17
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Lol funny typo please ohgod 
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Jun 12, 2018 05:24
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Fake
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Jun 12, 2018 05:37
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Anidav posted:Fake thanks trump thrump
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Jun 12, 2018 05:38
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GoldStandardConure posted:thanks trump I have a fantastic deal for this thread. A great deal. The best deals made by the best deal makers I know.
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Jun 12, 2018 05:40
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artistic license
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Jun 12, 2018 05:42
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QUACKTASTIC posted:It's a pretty decent Turnbull though
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Jun 12, 2018 07:00
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Meanwhile in property http://mobile.abc.net.au/news/2018-06-12/investor-retreat-from-property-market-continues-as-lending-falls/9859476 quote: 
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Jun 12, 2018 07:05
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Synthbuttrange posted:
Embarrassing
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Jun 12, 2018 07:18
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G-Spot Run posted:Meanwhile in property 
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Jun 12, 2018 08:59
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I like how 7 News is doing a story about how North Korea could nuke us
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Jun 12, 2018 09:07
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G-Spot Run posted:Meanwhile in property Now I just need a graph of Melbourne's median prices so I can have my popcorn ready for the 'Despair' phase.
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Jun 12, 2018 09:11
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Anidav posted:I like how 7 News is doing a story about how North Korea could nuke us I mean they're either gonna target Sydney or Canberra Just saying,
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Jun 12, 2018 09:17
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It will actually be extremely bad for everyone when the housing bubble bursts you brain geniuses
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Jun 12, 2018 09:17
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it'll hasten the demise of all there is. that is a net positive.
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Jun 12, 2018 09:21
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racing identity posted:It will actually be extremely bad for everyone when the housing bubble bursts you brain geniuses Yeah it will, but it doesn't have to be.
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Jun 12, 2018 09:21
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racing identity posted:It will actually be extremely bad for everyone when the housing bubble bursts you brain geniuses Yes, it will. That doesn't change the fact that it's happening so you might as well try to enjoy the tears.
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Jun 12, 2018 09:25
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I don't think it's likely a nuclear attack will reduce property values. During the immediate aftermath there might be some minor fluctuations while the market is corrected, but prices are likely to reassert themselves quickly and continue their upward trend due to the real value property has in Australia
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Jun 12, 2018 09:27
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My first car was a stick
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My household has already been turbo hosed by the war horn of the recession. May as well get this party rolling so we've got company.
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Jun 12, 2018 09:34
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We'll according to the Treasurer, literally the only lever governments have to pull with regard to housing markets is supply. So a nuke hitting a major city is... Good for housing prices... And therefore, good for Australia.
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Jun 12, 2018 09:36
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(serious question) why would a property bubble burst be bad for everyone, and not just investors/real estate industry?
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Jun 12, 2018 09:39
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bell jar posted:(serious question) why would a property bubble burst be bad for everyone, and not just investors/real estate industry? If you're already mortgaged to the hilt and house prices plummet you're now struggling to pay off a loan on a house that's now "worth" way less and even if you sell up and move you could lose tens of thousands
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Jun 12, 2018 09:42
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bell jar posted:(serious question) why would a property bubble burst be bad for everyone, and not just investors/real estate industry? I'd be interested in an answer to this too. As someone who'd really like to buy within the next year or so it seems like perfect timing for me personally (sucks to be everyone else).
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Jun 12, 2018 09:44
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MysticalMachineGun posted:If you're already mortgaged to the hilt and house prices plummet you're now struggling to pay off a loan on a house that's now "worth" way less and even if you sell up and move you could lose tens of thousands but why would that be bad for someone who doesn't currently own a house?
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Jun 12, 2018 09:49
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If everybody with a mortgage has their repayments increase and negative equity they won't be able to liquidate the loss so they'll have to push through to pay and make do and it's that that will have flow on effects to discretionary spending, business investment, business collapse, etc that results in the whole economy ultimately in trouble. It's a good time to not own property but it won't necessarily be a good time to buy property if nobody has a job anymore.
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Jun 12, 2018 09:52
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bell jar posted:but why would that be bad for someone who doesn't currently own a house? Because of all the people who suddenly feel poorer stopping spending money on things bankrupting business etc etc etc
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Jun 12, 2018 09:52
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bell jar posted:but why would that be bad for someone who doesn't currently own a house? It's anticipated that a housing bubble bursting may lead to a wider recession.
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Jun 12, 2018 09:53
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bell jar posted:but why would that be bad for someone who doesn't currently own a house? The banks will get fukt when all those people start defaulting on their loans. Also massive layoffs when companies' investment portfolios start shrivelling up
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Jun 12, 2018 09:53
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It's also fine if you're okay just living in the house you own for the next 20 or so years
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Jun 12, 2018 09:53
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hooman posted:Because of all the people who suddenly feel poorer stopping spending money on things bankrupting business etc etc etc
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Jun 12, 2018 09:55
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bell jar posted:but why would that be bad for someone who doesn't currently own a house? Sorry, when you said real estate I missed what you meant.
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Jun 12, 2018 09:55
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The Australian economy is disproportionately geared towards housing construction and related services, unlike most other economies of the world. If the housing market decides to take a dive, so does the economy as it readjusts for the new normal. All those idiots bleating about how "australia doesn't produce anything anymore" are correct, but the only answer to producing stuff again is to see a sharp dive in house prices which fucks everybody in the process.
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Jun 12, 2018 09:56
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MysticalMachineGun posted:Sorry, when you said real estate I missed what you meant. I meant like the real estate industry. In my eyes home owners fall under the investor category
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Jun 12, 2018 09:57
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Also banks falling over or seing massive losses could lead to a tightening in credit which could affect people's trying to get car loans, credit card interest rates, etc.
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Jun 12, 2018 09:58
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All sounds good for millenials who don't own poo poo
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Jun 12, 2018 10:00
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Ghost Leviathan posted:All sounds good for millenials who don't own poo poo Except there's still won't be jobs for them and the boomers who aren't laid off, won't leave the work force in a recession as their self managed super funds become worthless.
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Jun 12, 2018 10:02
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Its weird to me that like, somehow banks will be crippled by people defaulting on their loans despite a) the banks have made more profit year on year than ever before since 2008 b) the loans being made by the banks in varying degrees of fiscal responsibility c) banks having the ability to change the amount of interest owed on repayments, or renegotiate the payments at their discretion Like surely with all the money they've made from the boom post GFC they can handle a little knockback
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Jun 12, 2018 10:02
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*the sound of CEOs and financial advisors running to the airport holding bags of cash with dollar signs on them*
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Jun 12, 2018 10:03
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