Australians are heavily loaded with housing debt

Discuss politics and current affairs here.

Hot topic: The scourge of negative gearing, Friends of the NBN and wrecking lives.  The economy and Poll tracking— all the polls.

Special Feature 1: Peter Costello and our current deficits.
Special Feature 2: Dr Turnbull and the wrong NBN prescription
Special Feature 3: The Denigration of science, technology and education.
.
Forum rules
The rules for this board are in the Charter of Moderation. Politics is for serious discussion of politics, economics and current affairs.

Australians are heavily loaded with housing debt

Postby Squire » 18 Mar 2020, 11:33

The time is worse than 2008-9 because China is also suffering and won't rescue Australia by buying huge quantities of minerals, oil, and gas.

Many people are negatively geared and they are at most risk.

It could be a huge price plunge in housing.
User avatar
Squire
Cheetah
 
Posts: 1113
Joined: 19 Aug 2016, 10:35
spamone: Animal

Re: Australians are heavily loaded with housing debt

Postby johnsmith » 18 Mar 2020, 12:16

they've been predicting this housing market crash for at least 20 yrs.

It won't happen.
FD.
I hope that bitch who was running their brothels for them gets raped with a cactus.
User avatar
johnsmith
Lion
 
Posts: 10076
Joined: 25 Sep 2017, 21:39
spamone: Animal

Re: Australians are heavily loaded with housing debt

Postby Bongalong » 18 Mar 2020, 14:06

Housing never really crashed in Australia... it was always overpriced and just corrected!
"Oi!"
Bongalong
Warthog
 
Posts: 3647
Joined: 25 Jun 2018, 11:48
spamone: Animal

Re: Australians are heavily loaded with housing debt

Postby DreamRyderX » 19 Mar 2020, 16:39

Bongalong wrote:Housing never really crashed in Australia... it was always overpriced and just corrected!


Correct.......I figure we will see about a 25% correction, but we are treading in tricky times......it could be more, whereas those who have invested in the last 3 to 5 years may find the bank will be taking over their holdings unless they infuse the spread sheets heavily with cash. Read the small print.....Image
..................................................In a Time of Universal Deceit - Telling the Truth is a Revolutionary Act
User avatar
DreamRyderX
Irish wolfhound
 
Posts: 519
Joined: 14 Jul 2018, 11:45
Location: In Yer Dreams.............
spamone: Animal

Re: Australians are heavily loaded with housing debt

Postby Lols » 20 Mar 2020, 19:38

For the first time, the big banks will be helping the people (after all, those banks have helped themselves forever!), and will put a stop to mortgage repayments for 6 months because of the pandemic and people being unemployed and a lot of them at that.

It won't be like the 1990's where every 2nd house was mortgagee auction, that was utterly disgraceful and sorry for so many that could not make the repayments because of that 17% interest rate.

So to see that on the news tonight, about the big banks pulling in together to stop mortgage payments for 6 months (except for ANZ which they will review after 3 months), felt like they have finally grown a conscience?

Strange thing is, the interest rate drop, and banks want to lend out more money, but who on earth would want to borrow at this time of uncertainty?

I observe and learn.
"The whole problem with the world is that fools and fanatics are always so certain of themsleves and wiser people so full of doubts" ~ Bertrand Russell
User avatar
Lols
mountain lion
 
Posts: 680
Joined: 10 Jun 2014, 23:58
spamone: Animal

Re: Australians are heavily loaded with housing debt

Postby johnsmith » 20 Mar 2020, 19:58

Lols wrote:For the first time, the big banks will be helping the people (after all, those banks have helped themselves forever!), and will put a stop to mortgage repayments for 6 months because of the pandemic and people being unemployed and a lot of them at that.

It won't be like the 1990's where every 2nd house was mortgagee auction, that was utterly disgraceful and sorry for so many that could not make the repayments because of that 17% interest rate.

So to see that on the news tonight, about the big banks pulling in together to stop mortgage payments for 6 months (except for ANZ which they will review after 3 months), felt like they have finally grown a conscience?

Strange thing is, the interest rate drop, and banks want to lend out more money, but who on earth would want to borrow at this time of uncertainty?

I observe and learn.


I understand that so far it only applies to business loans.
And whilst I agree it's a good thing, don't kid yourself that they're being altruistic. In the end they're looking after themselves. If all these businesses close down, and a great number of them will, what are the banks going to do? They can't sell the assets because there won't be a market. They'll get peanuts and the person will declare bankrupt. It would cost the banks hundreds of billions of dollars. It makes far more sense for them to put everything on hold for six months, then get their money.

I fully expect this a to be extended beyond the 6 months .. whilst we should be over the virus by then, the economy will take a bit longer to get moving. I also fully expect them to extend this to apply to regular mortgage holders. A lot of people will lose their jobs and be unable to pay mortgages.


In this environment, the interest rate cuts are less about encouraging loans, and more about trying to slow the panic on the stock market.
FD.
I hope that bitch who was running their brothels for them gets raped with a cactus.
User avatar
johnsmith
Lion
 
Posts: 10076
Joined: 25 Sep 2017, 21:39
spamone: Animal

Re: Australians are heavily loaded with housing debt

Postby Lols » 22 Mar 2020, 23:24

The rules are changing every 2 hours

At least sole traders (my son) get a bit of money too as well as his wife with no job for a while as qantus grounds its fleet.
You know them airbuses qantas lease them $10,000 a day!
Big or little are going to feel the pinch.

I just read something an aunt write in fb from Italy, how she thinks we are lucky to still get around and not confined to staying home.
She said they feel like going crazy but are frightened of this ‘invisible enemy’
I reckon if our virus spread in Oz doesn’t slow down, the next step will be we are to all confine ourselves staying home.
Rules change depending on the stats.

I noted many chooks and vege gardens for self sufficiency are selling up big time!
Chooks need protection at night against Mr. Fox.
Even a forgotten latch locked and door not secured, as what happened to neighbour once, and there was a devastating result.
All I ever had was a couple lemon trees!
I’m hopeless at growing anything.
Hubby gets plenty hard boiled left over eggs from his work.

I’m just wondering if, his work is essential or not.
Will find out soon enough.
Last edited by Lols on 22 Mar 2020, 23:27, edited 2 times in total.
"The whole problem with the world is that fools and fanatics are always so certain of themsleves and wiser people so full of doubts" ~ Bertrand Russell
User avatar
Lols
mountain lion
 
Posts: 680
Joined: 10 Jun 2014, 23:58
spamone: Animal

Re: Australians are heavily loaded with housing debt

Postby Lols » 22 Mar 2020, 23:25

.
"The whole problem with the world is that fools and fanatics are always so certain of themsleves and wiser people so full of doubts" ~ Bertrand Russell
User avatar
Lols
mountain lion
 
Posts: 680
Joined: 10 Jun 2014, 23:58
spamone: Animal

Re: Australians are heavily loaded with housing debt

Postby pinkeye » 23 Mar 2020, 00:49

hard times to come.
Our young won't know what hit them. Especially as we have poor infrastructure on almost ALL things to do with STAYING HOME.

From Tuesday we ARE ALL EXPECTED TO STAY HOME AND NOT GO OUT, except for esssentials.!!
sleeping is good for you
User avatar
pinkeye
Rhinocerus
 
Posts: 5113
Joined: 01 Oct 2017, 20:59
spamone: Animal

Re: Australians are heavily loaded with housing debt

Postby pinkeye » 23 Mar 2020, 00:50

I'd define essential .. as FOOD, Medicine and Grog.
sleeping is good for you
User avatar
pinkeye
Rhinocerus
 
Posts: 5113
Joined: 01 Oct 2017, 20:59
spamone: Animal

Re: Australians are heavily loaded with housing debt

Postby DonDeeHippy » 23 Mar 2020, 04:20

Farmers saying there is plenty of Food, the Young will be hardest hit if they can only by fresh produce.. Ohh the Horror.
:purple
Bongalong... for some reason women are just so superior to anything that ever existed or will ever exist!
User avatar
DonDeeHippy
Warthog
 
Posts: 2716
Joined: 25 Apr 2018, 20:18
spamone: Animal

Re: Australians are heavily loaded with housing debt

Postby johnsmith » 23 Mar 2020, 08:30

Lols wrote:I noted many chooks and vege gardens for self sufficiency are selling up big time!


I'd love to get chickens but council won't let me due to proximity to neighbors.

I hope that some good comes of this virus and council stops being so ridiculous. A3 or 4 chickens won't bother the neighbours and will provide me with plenty of fresh eggs ... not to mention hormone free chicken :bgrin
FD.
I hope that bitch who was running their brothels for them gets raped with a cactus.
User avatar
johnsmith
Lion
 
Posts: 10076
Joined: 25 Sep 2017, 21:39
spamone: Animal

Re: Australians are heavily loaded with housing debt

Postby HBS Guy » 23 Mar 2020, 08:40

Most councils just say no rooster in urban gardens. No hardship as you don’t need a rooster to get eggs so if yours won’t allow chickens they are being idiots!
User avatar
HBS Guy
Tractors to Australia
 
Posts: 55563
Joined: 27 Oct 2009, 14:37

Re: Australians are heavily loaded with housing debt

Postby johnsmith » 23 Mar 2020, 08:43

HBS Guy wrote:Most councils just say no rooster in urban gardens. No hardship as you don’t need a rooster to get eggs so if yours won’t allow chickens they are being idiots!


this is GC coucils regs

Many Gold Coast residents own birds for a variety of reasons, including companionship and special interest.

To ensure that your birds or poultry are kept without nuisance to your neighbours, you are required to comply with the following rules:

keep your birds or poultry contained to an aviary or enclosure
keep seed or any bird food in a sealed, vermin-proof container
thoroughly clean aviaries and enclosures on a weekly basis
avoid excessive vocalisation.

Find useful information and resources for keeping of birds and poultry.

In addition, minimum enclosure standards must be met for the keeping of poultry, as prescribed within Council’s Local Law No. 12 (Animal Management) 2013:

located not less than one metre from the property boundary
located at the rear of, and behind, any residence
not located within 10 metres of any residence, food storage or preparation area.

Restrictions apply to the number of birds that can be kept on a property.



it's that last point in red thats the problem. The only way anyone can abide by that is if you buy a block just to house your chooks. And blocks are getting smaller
FD.
I hope that bitch who was running their brothels for them gets raped with a cactus.
User avatar
johnsmith
Lion
 
Posts: 10076
Joined: 25 Sep 2017, 21:39
spamone: Animal

Re: Australians are heavily loaded with housing debt

Postby HBS Guy » 23 Mar 2020, 08:53

Ah, I see. No probs for me with my 825sqm block but, yep, houses are getting bigger as blocks are getting smaller.

Re food I was thinking of a small wheelie bin, half filled with sand, bags of chicken food on top of the sand, lid facing south as prevailing winds are NW or NE, brick on top of the lid. Should keep chook food dry and safe.
User avatar
HBS Guy
Tractors to Australia
 
Posts: 55563
Joined: 27 Oct 2009, 14:37

Re: Australians are heavily loaded with housing debt

Postby DonDeeHippy » 23 Mar 2020, 08:58

HBS Guy wrote:Ah, I see. No probs for me with my 825sqm block but, yep, houses are getting bigger as blocks are getting smaller.

Re food I was thinking of a small wheelie bin, half filled with sand, bags of chicken food on top of the sand, lid facing south as prevailing winds are NW or NE, brick on top of the lid. Should keep chook food dry and safe.


The council would have different rules for where you are, it might be really easy to have chooks there :purple
Bongalong... for some reason women are just so superior to anything that ever existed or will ever exist!
User avatar
DonDeeHippy
Warthog
 
Posts: 2716
Joined: 25 Apr 2018, 20:18
spamone: Animal

Re: Australians are heavily loaded with housing debt

Postby HBS Guy » 23 Mar 2020, 09:03

Yeah, basically no roosters and 900mm fire separation distance from adjoining properties if having wooden coop etc. But I could keep chooks even in the GC because of the size of my block.

My block is on a silent listing but that might take awhile with the bloody lockdown on travel.
User avatar
HBS Guy
Tractors to Australia
 
Posts: 55563
Joined: 27 Oct 2009, 14:37

Re: Australians are heavily loaded with housing debt

Postby johnsmith » 23 Mar 2020, 09:43

HBS Guy wrote:Ah, I see. No probs for me with my 825sqm block but, yep, houses are getting bigger as blocks are getting smaller.

Re food I was thinking of a small wheelie bin, half filled with sand, bags of chicken food on top of the sand, lid facing south as prevailing winds are NW or NE, brick on top of the lid. Should keep chook food dry and safe.



My block is about 840m2. But with the house is in the center of the block, I don't have 10 meters from the residence than another meter to the boundary in any direction. 800m2 is an 80x10m block.

as for the storage of feed, all you need is one of these

Image
FD.
I hope that bitch who was running their brothels for them gets raped with a cactus.
User avatar
johnsmith
Lion
 
Posts: 10076
Joined: 25 Sep 2017, 21:39
spamone: Animal

Re: Australians are heavily loaded with housing debt

Postby HBS Guy » 23 Mar 2020, 10:05

Yeah, that would also do.
User avatar
HBS Guy
Tractors to Australia
 
Posts: 55563
Joined: 27 Oct 2009, 14:37

Re: Australians are heavily loaded with housing debt

Postby Lols » 26 Mar 2020, 01:19

Different rules in different areas fir chooks?

Well I never would of thought that.

But you can always stop neighbours ever complaining by giving them fresh eggs!

Btw, you can freeze eggs up to a year!
But not in its shell.
Best to mix egg white and yolk together then pour into ice cube tray and cover.
Just google it and the info comes up.
"The whole problem with the world is that fools and fanatics are always so certain of themsleves and wiser people so full of doubts" ~ Bertrand Russell
User avatar
Lols
mountain lion
 
Posts: 680
Joined: 10 Jun 2014, 23:58
spamone: Animal

Re: Australians are heavily loaded with housing debt

Postby pinkeye » 26 Mar 2020, 01:22

:thumb
sleeping is good for you
User avatar
pinkeye
Rhinocerus
 
Posts: 5113
Joined: 01 Oct 2017, 20:59
spamone: Animal

Re: Australians are heavily loaded with housing debt

Postby Lols » 26 Mar 2020, 01:41

Getting back on topic, housing, the rules aren’t coming in thick and fast.
Not permitted now are auctions, and open house inspections.

That will put the dampers on it all, what reckon?

There is talk, not only a recession, but also a depression with a million recently jobless.
It’s very saddening to see so many young adults that were earning a living, now in the dole queue.
All types of jobs, chefs, yoga/Pilates instructors. Etc
My son being a sole trader as marine mechanic had a job lined up for $3500 with parts, but the client lost his job, so that’s put in the back burner.
See how it had a ripple effect?
The son’s wife was an international air hostess for qantas, and now applied for work with supermarkets.
We wait and see as the application is being processed.
I told the son he should get a fork lift licence, as warehouses are busy now, and that’s one of the occupations very much in need.
They have a mortgage, not with the big name banks, via a mortgage broker.

Things change, and sometimes quickly.

Nothing stays the same forever, I would love consistency.

I have to admit, never in all my voting years since 1972 have I ever seen the different political parties being amiable and not bickering about each other as usual. It’s good to see how they have been supportive of whatever happens and the decisions.
I can see the weariness in do many of the leaders world wide. The Dutch health minister collapsed.
Some of the leaders wives have the c-virus.
Let’s face it, such challenging situations for so many. I feel sad for many.
If only a inoculation for this virus can happen sooner.
"The whole problem with the world is that fools and fanatics are always so certain of themsleves and wiser people so full of doubts" ~ Bertrand Russell
User avatar
Lols
mountain lion
 
Posts: 680
Joined: 10 Jun 2014, 23:58
spamone: Animal

Re: Australians are heavily loaded with housing debt

Postby Bongalong » 27 Mar 2020, 11:42

It's surprising the price of gold has dropped but big business just got given an 8 trillion dollar free kick so
.... :roll
"Oi!"
Bongalong
Warthog
 
Posts: 3647
Joined: 25 Jun 2018, 11:48
spamone: Animal

Re: Australians are heavily loaded with housing debt

Postby Bongalong » 27 Mar 2020, 11:42

It's surprising the price of gold has dropped but big business just got given an 8 trillion dollar free kick so
.... :roll
"Oi!"
Bongalong
Warthog
 
Posts: 3647
Joined: 25 Jun 2018, 11:48
spamone: Animal


Return to Politics

Who is online

Users browsing this forum: No registered users and 3 guests

cron