What will High House Prices and Stagnant Wages mean?

WHAT WILL HIGH HOUSE PRICES AND STAGNANT WAGES MEAN?

Key Points

-January 2021 Sydney house price was $872,000; start of June it is $970,000.

-a jump of almost $100,000 in a matter of months

YET in Ryde it jumped $300,000 from December to January 2021! In a matter of weeks … was this where it started?

however banks are beginning to withdraw the cheapest of their very-cheap mortgage rates; the fixed four-year rates of below 2 per cent

-three-year rates have barely moved; the RBA has promised to hold the three-year bond rate constant at 0.1 per cent

BE AWARE …

-homes were cheaper until the end of the 1990s; typically cost between two and three times household after-tax income

.over time the loan was easier to pay off

.because during the 90s wages and house prices were climbing

-homes now cost closer to five times after-tax income

-the number of homeowners at retirement who are still paying off mortgages has doubled

IS this why some banks ask for details of your Super before granting a loan?

HOW will borrowers overcome this?  How can we get WAGES Growth?

… Join a Union!

READ MORE! 

Paying off a mortgage used to be easier than it looked. High house prices and stagnant wages have changed that reality

https://www.abc.net.au/news/2021-06-02/paying-off-mortgage-used-to-be-easier-house-prices-wages/100181488

The original NSW Bank Wire Promoting the Housing Boom on Twitter

NOW known as … W.stP.c … its Wire promoting the Housing Boooom on Twitter .. well it sucks!

THINK about the following …

WHEN the Real Estate Agent asks you to price the property either repeat back the lowest guide price, or lower it!

WHY play into their hands and destroy your future?

Currently a $1000 price rise daily!

VERY limited stock, and much of what is there is what sellers want to offload

WHY? Because they are …. on or near main roads including Pacific Highway, Princes Highway, the M1, President Avenue, Epping Road, Ryde Road, Victoria Road, New Line Road …

-built on cliffsides, hillsides with water issues and or water courses flowing through sandstone underneath

-massive POWER STANCHIONS in the front corner of the lot or beside the house

-termite damage … risky … are they still there?

-subdivided lots with narrow shared driveways; reverse access only!

-dilapidated; not even a coat of paint!

-damp; mould

-5, 6, 7, 8 bedrooms

MEANWHILE home owners who are NOT BUDGING … can gloat … that their ‘Home’ is now worth $2 MILLION or more …

BUT what does it really mean other than much misery for those seeking SHELTER … isn’t that what HOUSING is really about?

WHAT a nasty corrupt little nation AUSTRAYA has become …

Westpac Wire@WestpacWire from ‘red hot’ to ‘hot’, @WestpacMacro’s @Matthew_Hassan_explains that Australia’s booming property market shows little signs of slowing as strong price gains continue.

Promoted

VIEW: Full story – https://westpac.com.au/…/home-open-from-red-hot-to-hot/…#housing#realestate#property#economy

Apartment Owners suing Sydney Developer TOPLACE over dozens of ‘Defects’ in near new Parramatta Buildings

APARTMENT OWNERS SUING SYDNEY DEVELOPER TOPLACE OVER DOZENS OF ‘DEFECTS’ IN NEAR NEW PARRAMATTA BUILDINGS

The Body Corporate of Riviera Apartments shortly after settlement launched court action for 45 types of defects!

Including corroding concrete, acoustic, fire and life safety, hydraulic, electrical and mechanical matters

-general building defects like incorrectly installed doors, concrete wall panels, expansion joints as well as bathtubs, hand basins and toilets

-other defects claims relate to the installation of plasterboard walls, waterproofing of bathrooms and defective installation of internal water pipes in the laundry

READ MORE!

https://www.abc.net.au/news/2021-06-03/parramatta-apartment-owners-suing-sydney-developer/100185356?fbclid=IwAR2YP-41KOFeLxMA_-nBd3qZTrg1a5X9B1-5CU7bwa10h5d0eb-qIm4XKS0

Related article: Toplace is the same developer behind the $260 million Skyview towers complex in Castle Hill, currently under review.

https://www.abc.net.au/news/2021-05-13/fair-traiding-finds-issues-at-major-sydney-apartment-development/100107048?fbclid=IwAR2XH_L29g0xV1O4S6je0jy2zhyehBnlOZmmB-8FRRUcGWHkZ631YuPbeJw

SEARCH CAAN WEBSITE AND FACEBOOK FOR EARLIER REPORTS ON TOPLACE, JEAN NASSIF, SARKIS NASSIF

CAAN WEBSITE:  

https://caanhousinginequalitywithaussieslockedout.wordpress.com/

LIKE CAAN ON FACEBOOK!

https://www.facebook.com/Community-Action-Alliance-for-NSW-744190798994541/?ref=aymt_homepage_panel

Property Experts Push for a Post-Pandemic Population Boom

‘Ever wondered what those who wish to influence our society are up to?’

Have a read …

https://www.mansionglobal.com/articles/australia-prepares-for-a-post-pandemic-population-boom-227737

Then …

-‘how different is this from Macro Business, ‘Nordic Countries show the way on Immigration’

In which the Unconventional Economist explains that since 1960 the Nordic countries have only grown their populations by a mere 25% compared to the 150% growth in Australia!

And NORWAY has a commodity economy like AUSTRALIA …

WHY can’t Australia focus on improving productivity and living standards?

Sweden, Denmark, Finland and Norway are among the wealthiest, happiest and with the highest living standards

Without mass immigration for population growth … to benefit the titans …