in ,

120K Buyers in negative equity

#housingmarket #housingcrash #heisesays
Hopefully, they can make lifestyle changes and toughen through.

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25 Comments

  1. Yep, brought a house in Sydney in 1996, Rates at 8.8%.ish.? for $380k with my sister. 14yrs later house worth $1.1 million. Then, the 2010 /11 housing crash. Lost $160k in 12 months. Sold, at $940k after paying loans, cars and credit cards we walked out with $330k each. moral of the story, a house is no longer an investment for me. It is a home to raise my kids and give to them when I pass. Living easy life with no stress, money comes and goes. The roof over ya head is priceless.

  2. My 2 cents, fair market value of property is at max 4 times average income, sydney 2 bed apartments are worth 300-350, your average 4 bedroom detatched home in a working class suburb is worth 550-650. Look at global averages, look at Australia's historical averages prior to the 2000s, when property bubble began, the bubble has been 15 years in the making, it will take a while for prices to return to sensible levels… with unemployment rising now and will only continue to rise given the RBA hit the breaks with increasing vigour its absolute madness that there are a few hundred thousand migrants about to enter the country.

    Absolutely ridiculous the government wants the plebs cutting each other's throats to land a job, to swim as hard as they can against the current and go nowhere, what's wrong with businesses having to fight for staff, Australian government meant to put the Australian people first, don't recall businesses being able to vote but your average working man who make up the majority of voting pool does, so sick and tired of labour or liberal they are too complacent, do nothing but play their tired game, tired old arguments, nowhere is it written that this is the way it has to be..

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