What is the future of Australia's housing market? (Part 1) | 7.30

I feel sorry for that poor auctioneer driving around in his GLE 63S. I’m wondering how on earth is he going to be able to make the repayments on the finance for that vehicle. Poor guys, instead of a new car every year, it’s every 2 years. How embarrassing for them. It’s time things cool down. It’s funny most of the people complaining are the ones with the most.

Rent is so expensive in Sydney but the worst thing is most of rental properties are filthy and full of mould.The investers just collect money but do not paint or install new kitchens or bathrooms FOR A VERY LONG TIME.

What happened to the time when people bought a house to live in not for an investment.

lets be real, sydneys housing prices were and are ridiculous lmao. sure hope these hyper rich people/people with tens or hundreds of houses/units just lose out big time.

The crash was always coming because the boom was built on debt and perceived wealth, not actual wealth based on wages. I thought the catalyst would be higher interest rates, but as it turns out the tightening of credit is having a deeper effect, and is probably having the same impact as a 1-2% rate hike. If the market is left to level itself out—if the government doesn’t interfere with what is supposed to be a free market—then you can only assume the falls will be closer to 30%, simple because banks are lending about 30% less—because through due diligence they now—now—believe that is what people can actually afford to repay. That will be followed by a long-term levelling out. Who would have thought the affordability crisis could be solved so simply—by lending people what they could actually afford to repay. Simply but painfully. Welcome back to the 90s.

The Guptas are a prime example of what's wrong here. They're not to be celebrated.

Is it just the rich buggers having a whinge about not getting what they expected on their investments? I hope selfish buggers who have multiple properties take a massive hit.

“Asset” “investment” that sentiment is the issue! It’s a bloody house not a commodity

1.5 for that dump. 1.38 MIL was good offer for that dump, but the seller was greedy lmao

Something everyone should remember at the next federal election is that virtually all our parliamentarians own properties and half of them or 5 times the national average own investment properties, the very kind that caused his mess. Vote with your feet.

Housing bubble collapse is healthy for economy and it's natural like breathing. Central planners should stop interest rate manipulations.

Good thing my family own their house outright. Buy one house we all work to pay it off, buy another house and do that again. now 5 houses in, all mortgage paid. each has a house. Life is good. We didnt go overseas, we didnt buy new cars, we worked like dogs, and 10 years later its paid off.

Greedy owner! Paid 1.3 and wants 1.5m! People are waking up to these shisters!

Oh my gosh, people aren't buying houses three times their actual worth? Who would have guessed? Maybe people are getting sick of buying houses worth 450k for over 1 million dollars.

Retail down, House prices down, Construction down and car purchased down. Interesting time over the Christmas break to see economic data. Recession around the corner.

I’m really puzzled from who thinks it’s a down turn . Feel free to call it as it is . It is a bubble bust . The funny thing is people tend to forget that prices has increased more than 100% since 5 yrs . Get the facts right , you wait for 2012 prices . Pls read about GFC in the US

I have worked on the Mines for years & live with Mum never having bought a house.What a complex mess Australia is .

Ray White is an appalling company, the housing market is massive bubble. All bubbles pop. Hopefully it does so the younger generation can atleast afford it.

Lol at the Guptas. You keep believing that because you have owned an asset and it has doubled in value every 10 years that it will just continue to do so. Try putting that into a spreadsheet and extrapolating it out another couple of decades, do the same for wage inflation and see what the end result is.

Lol what ever! All i can say is stop trying to always take shortcuts. Your home is not an ATM, why constantly reborrow on your place of living. What i see a lot of is lets put a car on the house lets not just put a cheap car lets put a 100k 4x4. When we talk interest only loans is asking for trouble. I am of the opinion that you should save your money before you make a purchase, okay a house is a massive amount to save for but at least save a good deposite before you get in over your head. Work on the fact that interest rates should be around 10% not 4.7%. Plan always for the worse case and if you know your in over your head dont just think it will all pass by, try helping your self and get out with the least debt as you can. I have been debt free for 10 years now and all i can say is great, okay i no longer own a house but i really dont want one i live on my yacht with million dollar views peace and quiet making my own power and soon to be making my own water. All i can say there are alternatives in life!