Must see segment on the Australian real estate bubble
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That super ugly white lady is only in her early 30's? Damn, she looks like 45 years old already. Damn lady, stay off the sun, you look old as fuck. Ugly and old as fuck.
Rich white people losing their huge investments bc they were too stupid and greedy! That's what they get for being so damn greedy. That's the real state game when we get into bubbles. You can make lots of money quick but you can also lose everything. The bigger the return the higher the chance of failure.
stupid people that can not except blame, "we are only partly to blame'. no these people are the only ones to blame, banks are in it for the money, not your feelings.
Bloody hell mate! Millions of dollars in debt! And I cry when I owe someone 50 bucks!
Im sick of these idiots saying it is her fault it is the banks fault. Whos fault is it. Simple, the Government is to blame. You see since the Government degerulated the banking industry, the banks make there own rules. And whom will those rules benefit, The banks and the bank will rout for as long as they can. Its all about shareholder value.
Once the salary to mortgage ratio went above 6 to1 it was all over. The banks and the Government have been asleep at the wheel and are now driving the big bus we all live in over one hell of a massive cliff. If anyone who has seen the movie "The Big Short" you should see the big picture of whats going on in Australia,,, same shit, different country. All our free to air networks should screen this movie Oz wide prime time on a Sat nite,,, might wake up a few zombies here and there.
Ugh, "just trying to get a start in life" really, with $6.5 million in loans and 10 houses?? what the actually F%$k!! What nonsense, blaming the ease of finance as why they screwed up? use some common sense. That's like saying when you get caught for growing a marijuana farm that it's not your fault because it's easy money. Come on…
Why is this silly women blaming the bank… fucking idiot. How can you not look at yourself and think "oh, maybe borrowing millions from the bank is a bad idea"
I've had my run-ins with those Chinese in fact my landlord is Chinese. He tried to double my rent but thankfully rent control came in just in time to save me on my newish rental townhouse. I hate those Chinese and what they did to our real estate market. They think they're so smart by bidding more and more for shit shacks and then thinking they can just double your rent.
Using a single industry mining town as an example of an imminent crash is pretty daft. When mining crashes, the jobs go, and the houses are left without buyers resulting in plummeting prices.
The bigger cities have more diversified economies, not to mention infusion of foreign cash to keep the market afloat.
china will buy it , like they are buying the politicians.
lmfao they've been saying we were in a bubble since the 70's!
Interest only loans are 2nd in stupidity as adjustable rate mortgages .
"You can tell who has been skinny dipping when the tide goes out…when you stress test stupid."
Toronto House Sales Down 44%Prices Fall 57k in 1 month
New Zealand Auckland Albany House Prices Dive 13%https://www.stuff.co.nz/business/property/94154549/house-prices-dive-in-albany-on-aucklands-north-shore
If you need a loan you cant afford it. Loans cause inflation which banks and the government love. How much do you think home prices would be if loans did not exist?
Most people would have done the same thing…. If given the opportunity, every person i know including me would buy a house or two if able…You can't tell me that if the banks said to you, yes your approved to buy 5 houses you wouldn't?? The only difference is the area. Investing in mining towns will always be risky… you can't call them greedy. They did what anyone given the same opportunity would have done. The fact the investments were successful in the beginning shows why they bought more…
The property market IS NOT an investment market. There IS NO bubble. 80% of the market is non-investment. No bubble.
I can bet u anything for them must be those brainless fans of 'Rich Dad Poor Dad' series.