SO … What’s the Agenda that led to Housing Price Hikes?

Kate Goldby and Zac Anthony are grateful for getting a foot on the property ladder thanks to a family member who guaranteed their home loan.(ABC News: Rhiana Whitson)

IN December 2020 house prices were recovering from the lows of

the mid year

Then over the Christmas break the housing market virtually closed …

BUT come 1 February 2021 instead of Agents dropping the price by some $200,000 when marketing a property allegedly to lure more buyers at Auction …

THAT at 1 February agents instead bumped up the median of December 2020 north by another $200,000 Guide Sale Price! In many instances at $2 Million!

… buyers find as they bid that their reserve for renos just goes to paying a higher price …

AND yet real estate agents said ‘We didn’t see this coming!’ …

WHAT happened over the Christmas vacation?  Was there a big meeting of the Real Estate Institute?

And who was invited to attend?

Could that have been the Big Boys The deve-lopers, the bankers and the Feds?

What was behind all this?  This Agenda?

 … Apart from the Feds using this as an opportunity to make it look like ‘Australia has a strong economy’?

Could it have been a ruse by the deve-lopers to sell off their excess of apartments since the Pandemic had cut off their foreign buyer demand?  

By engineering this price hike in ‘Houses’ to steer buyers especially First Home Buyers towards buying an apartment … really …

And the bankers, of course, enjoy the increased flow for their vaults

NSW INC Stamp Duty Coffers again overflow along with the newly introduced alternative of Annual Land Tax

Cough … cough …

The average amount parents (The Bank of Mum and Dad) are contributing is $89,000!

But as Martin North banking sector analyst said those that received $$ help from parents to get into the property market:

-are three times as likely to default on their loan in the first five years

BECAUSE …

-they have not been disciplined about their savings

-these parents either gift the money towards a deposit or become ‘guarantor’

-and put forward equity in their own property

-if the children fail to make payments the parents may lose their home!

AND … Mr North … it would seem despite being an Analyst is …  ‘a Man of Humanity’  warns that if in future these buyers end up in negative equity that Regulators should be looking at this very seriously!

VIEW:

https://www.abc.net.au/news/programs/the-business/2021-05-03/house-price-surge-means-first-home-buyers-are/13327796

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