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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Sydney House Prices over March soared to $1,309,195

6 Julie Street, Marsfield fetched an extra million dollars when it sold for the second time within five months.
6 Julie Street, Marsfield fetched an extra million dollars when it sold for the second time within five months. Photo: Belle Property Ryde

Sydney house prices soared to a new record of $1,309,195 after jumping $103,000

over the MARCH quarter, or 8.5 per cent.

HOW COME?

This is the fastest quarterly acceleration of house prices since Domain records began in 1993.

This has pushed annual house price gains into double digit percentage growth, making it the steepest increase since the lead up to the previous price peak in mid-2017, at 12.6 per cent.  …

All Sydney regions have hit record high house prices.          

READ MORE IF YOU CAN BEAR IT … what it means many cannot own shelter!

HOWEVER, for those who sold during 2020 and were looking for another home … found that at 1 February 2021 house prices mysteriously jumped $200,000 or more from December 2020 …

-now priced out of their communities across Sydney

HOW was this FECK-UP cooked up?

-ultra-low home loan rates

-government incentives … a boon to the property mates

-high household savings (and the Bank of Mum and Dad … some even going guarantor … whereby they could lose the lot down the track)

-money laundering in real estate continues

IS the Morrison government doing its bit to promote Australia as a safe haven for laundered money and the proceeds of corruption?  With Australian real estate a prime market for hiding dirty money

AND now that it appears that … housing has reached the point where rising prices and falling affordability have met?

HAVE buyers in fact been set up? … cough … cough …

Michael Pascoe: The federal government doesn’t care at all about the Housing Crisis

HOW likely this is the case when the Property Sector has such a cosy connection with those at the top? Even down to policy writing?

IS there a possibility of another Agenda here?

MORE on this to follow …

SYDNEY Property Owners test market with ‘unrealistic’ prices 

https://www.domain.com.au/news/sydney-property-owners-test-market-with-unrealistic-prices-but-it-sometimes-works-1046819/?utm_medium=email&utm_source=domain&utm_campaign=[2021%2F04%2F27]%20Newsletter_Weekly_27042021&fbclid=IwAR0Qa0ysln3kDKWkXuCPZdpqmabUClUtRBxvXV2QL5ivuTpfpZPSTlbMkKg

-much of the current housing market stock less than $2M is of pooor quality with ridiculous price tags

.with plastic cladding, termite damage, rat infestations, leaky roof, drainage issues, damp, mould, shaky foundations, ancient kitchens and bathrooms, and not even a coat of paint!

-many going to auction in 2 or 3 week campaigns

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CAAN responds to Commentator Lex on Elizabeth Farrelly’s ‘Sydney’s Hamlet Tragedy: Urban Sprawl conquers all’

Lex wrote …

People have to live somewhere & it is far preferable to go up, allowing for the preservation of open spaces & transport consolidation than out, resulting in urban sprawl & the entire Sydney basin eventually being covered in squat buildings. It is the peculiarly Australian malady of High Rise Phobia that continues to fuel the urban sprawl that is threatening Mt Gilead & similar places.

CAAN: Yes, people do have to live somewhere, and in case it has escaped your notice, Lex, both Sydney and Melbourne have been subjected to high immigration … not just 70,000 per annum of permanent migrants, but during the term of the Howard Government it rose to some 200,000, 300,000 or more with temporary migration of Visa holders!

This population explosion began in the late 1990s of the Howard Government when Middle Class Chinese were invited to invest or buy our real estate to gain ‘Flexible Citizenship’!

And the Ponzi Scheme… the origins of which date back to the 457 Visa being introduced after John Howard took office …

Many on Student Visas were able to bring out family members through a Family Visa, Parent, Grandparent, and Guardian Visa. 

The PhD Student Visa, Investor Stream, Significant Investor … and more!

This huge influx particularly from China led to increased competition for our housing … house prices escalated … locking out many young Australians … Black Money was awash in our real estate as the second tranche of the AML Legislation was shelved … then in October 2018 the Morrison Government exempted the Real Estate Gatekeepers from the Anti-Money Laundering Laws!

In January 2019 Scott Morrison announced a cut to migration of some 30,000, but at the same time overlooked that there were some 2.2 Million VISA Holders in Australia!

This Visa manipulation has benefited not only foreign buyers but both the high-rise and urban sprawl developers … in fact a ruling of the FIRB has allowed them to sell ‘new homes’ to foreign buyers! Whole Precincts of high-rise and urban sprawl!

IT would seem that the Australian People have been overruled by developers, doesn’t it?

  • We have had no say about this whatsoever despite many spending years to try and save our Heritage, Fauna, Flora, Farmlands, villages and suburbs from their greed and destruction!

SO what do you say now, Lex, about ‘High Rise Phobia’ fuelling the urban sprawl? 

Search CAAN Website to learn more about  …

-Lang Walker, Walker Corporation

-Harry Triguboff, Meriton

-Country Garden (now Risland)

-LandCom

-Wilton, Appin, Mount Gilead

-Visa Manipulation

-Foreign Investment Review Board (the FIRB) and much more!

Read this from Elizabeth Farrelly:

https://www.smh.com.au/politics/nsw/sydney-s-hamlet-tragedy-urban-sprawl-conquers-all-20210409-p57hsm.html?fbclid=IwAR1avEyF2hBA7ESw5oPKjcz3EnEwHczfgZvL_Y-qD6N0RFeUikaZY47s3XI#comments

Michael Pascoe reveals how the Housing Affordability Crisis has come about

‘Michael Pascoe: The federal government doesn’t care at all about the housing crisis’

WHY would it? Having created it …

A MUST READ! Please do consider sharing!

Keeping the link here for access … to quote from as often as possible!

PLEASE SHARE!!

Half a McMansion on a Half Lot drew Hundreds to its Auction

May be an image of one or more people, people standing, tree and outdoors
AUCTION DAY … with hundreds of Hopefuls over the duration of the Campaign … now almost all homes are sold by Auction … are Buyers being ‘set up’? When there can only be one successful buyer!

THE CAMPAIGN … the First Inspection led to hundreds lining up in the street … and the Open Home went on for an hour or more!

THE HALF MCMANSION … not new but some 30 years old … beautifully kept … cherished ….

THE GUIDE was initially very low … $1.1M … $1.2M, and attracted … no doubt … hundreds of Hopefuls!

OVER the weeks that followed … The Guide crept up by another $100,000 … then $300,000 … $400,000 …

BUT still more than 100 Hopefuls turned up for the auction of ‘Half a McMansion’ on a half lot!  A duplex!

The opening bid from a buyer was for $1.4M  … did he believe that this was the way to cut through? Or could this bid have been arranged … despite fair trading?

The bids then quickly rose between three … then down to two Bidders … as the Hopefuls with their little children stood by in stunned silence …

THE AUCTIONEER whipped the pair into a frenzy …

SOLD at almost $1.8M!

THE CONDUCT ... is cruel … it works against ‘the Hopefuls’ … for the most essential need of ‘A Home’ … with ‘no Set Price,’ but a mere Guide!

Unlike a fridge, a washing machine, a pair of shoes even a pie they all have a set price …

Looks like it is weighted against all ‘the Hopefuls’ …

AUSTRALIA needs not only some 173,000 affordable homes for those on low incomes … it needs AFFORDABLE HOMES for all Australians!

TIME to rectify this … more than 100 People were turned away from this one auction … having spent $thousands on Building Reports, Conveyance Contract checks, time and energy lost for yet more months … years ahead searching for a nest!

HOW Good’s this, Sc.mmo?

AUSTRALIANS have rejected the high-rise Towers that can fall down! 

With the inflammable cladding … that cost from $180,000 to $200,000 a unit to build, and sold from $600,000 … $1M or more … for …

BUILT by the Spivs …  who describe themselves as the ‘Concrete Kings’  … who have a lavish lifestyle … Lamborghinis … Rollers et al …

AUSTRALIA currently cannot and does not HOUSE its own … therefore how can it justify any more migration … through VISA Manipulation? … AUSTRALIA must HOUSE its own … and STOP this pernicious Ponzi Scheme!

May be an image of 1 person, standing and outdoors
THE DEJECTION … Within minutes the ‘Hopefuls’ quickly dispersed many with little Children … How can this be described as a ‘Fair Go’?

P.S. In late November 2020 a neighbouring like Half McMansion sold for $1.39M … an indicator of an inflated marketwith a $400,000 price hike!

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‘Move to More’ Regions Marketing for more Homeless!

APART from Millennials rush to the bush to find affordable housing

SCOMO GOVT with No Fair Go for HOUSING … did they create the FOMO?  Through low interest rates … many borrow a lot more … and an influx of investors …. pushing up house priceseven more!

With demand greater than supply …

The Feds now have another campaign run by the Regional Australia Institute (the RAI) to entice City people to move to the Regions … where housing is already unaffordable for many to now jack it up more!

HOMELESSNESS is increasing in the mainland regions and in Tasmania …

IT’S so bad in Byron that Deputy Mayor Michael Lyon lodged a motion for the next Council meeting on 25 March about the ‘Housing Crisis’!!  He is seeking support from other councils for the State Government to address this!

Byron Bay, one of NSW’s 11 “most searched” regions on the ‘Move to More’ website where the median house price rose 37% last year!

-some regions have a rental vacancy rate of 1.5% , 1%, or less!

DO our pollies think things through?  With city people earning higher incomes to price country people out of their homes!

HOW GOOD’S THAT?

READ MORE!

RB Governor invites ScoMo to pick up the Tools to stop soaring House Prices

Philip Lowe looks at the camera, with a blurred podium in background.
RBA governor Philip Lowe says the board is keeping a close eye on the booming housing market.(ABC News: John Gunn)

The time is nigh, we suggest Mr Lowe, regulators need to step in to deflate it!

It’s apparent there can only be one buyer, and with hundreds of buyers now attending each Open Home inspection … and not one or two buyers bidding at auctions, but 8 or 10 from the large crowd … that there can only be one to succeed … we have a shortage of the homes Australians want, and can afford to buy!

Vendors soon become priced out too!  

Migration and visa manipulation will only exacerbate this crisis! 

Whose interests are Sc.Mo and the NSW Princess serving?

Mr Lowe has laid it at the feet of Sc.Mo … that it was up to governments and financial regulators to address soaring housing costs. 

THE TOOLS, he said, to address this include GOVERNMENT POLICY CHANGES by reducing the favourable tax treatment of housing (for some) or so-called macroprudential policies.

READ MORE!

https://www.abc.net.au/news/2021-03-10/reserve-bank-warns-on-house-price-boom/13232954

In Sydney … low interest rates have driven up House Prices …

Record-low interest rates have enabled buyers to borrow more, driving up competition and prices, and leaving them with less. Photo: Peter Rae

Are the Banks laughing?  Awash with cash …

Are the Banks happy to lend to those that overextend? 

Would they be happy to foreclose on a property?  To resell?  Cough … cough

…  The Reserve Bank will keep rates low for the next 3 years … even if house prices continue to soar (more)!

So buyers borrow more … with large crowds at open homes and auctions … as more bid the price hikes!

AND there can be but one buyer! 

What is the future for those turned away? Life-long tenancy?

The Reserve Bank focus is the economy; the Governor repeatedly has raised the issue of low wages growth with the PM …

Why not a clamp down on property investors? Or is the PM’s attention elsewhere?   Meanwhile … queues for Open Homes line the street … extending from 30 minutes to an hour.

Auctions are now between 8 to 10 bidders  …

Who else is behind this?  Scomo wrote the policy for the developer lobby, the Property Council of Australia before entering politics …  How good’s that?

READ MORE! ‘Sydney property: Low interest rates and increased borrowing power drive up prices, send buyers back to the bank’

NEW ZEALAND … ANZ Bank Tackles its Heated Property Market!

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New Zealand … ANZ Bank tackles HEATED PROPERTY MARKET!

TO stop Property Investors Scooping Up Homes  …

How?  By demanding 40% deposit for investors! 

WHY not do the same here in Australia?

To ‘make way for Home Buyers’, and not the Financialization of Housing … FFS!

READ MORE!!

Property Investors Deposit Up 40%: What It Means For Homebuyers

17  DECEMBER 2020

The ‘Australia New Zealand Bank, the biggest bank and money lender in New Zealand … is now increasing its minimum deposit to 40% for residential property investors.

This was announced on Tuesday, 15 December 2020; effective immediately.

The Bank’s big move was implemented as soon as they learnt that 32.4% of mortgage lending went to investors; with a mere 18.3% to first-time homebuyers.

READ MORE!

https://www.glimp.co.nz/property-investors-deposit-up-40-what-it-means-for-homebuyers

RBNZ targets residential property investors with new high LVR restrictions: Most investors to need 40% deposits and most owner-occupiers 20% deposits

9 FEBRUARY 2021

The Reserve Bank New Zealand (RBNZ) witnessed a rapid acceleration in the housing market, and new records being set for the national median price, and a strong pace for new mortgage lending!

This raised concerns about the risk of a sharp correction in the housing market for financial stability! With evidence of speculation surfacing, and many buyers highly leveraged!

That highly indebted borrowers … mostly investors are vulnerable to house price corrections, and more prone to rapid ‘fire sales’ that may magnify any downturn!

READ MORE!

https://www.interest.co.nz/banking/108940/rbnz-targets-residential-property-investors-new-lvr-restrictions-most-investors-need

Will House Prices Escalate further when Migration returns?

Photo: Peter Rae

Will Scomo have a ‘Spark of conscience’?  A pang of conscience for Australians, or open the floodgates?

‘The reopening of international borders could put further upward pressure on house prices and should be done gradually to avoid overheating the property market even further, experts warn.’

READ MORE!

Will house prices go up even further once the international borders are opened?

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