Jump to content
Join the Unexplained Mysteries community today! It's free and setting up an account only takes a moment.
- Sign In or Create Account -

Australian Federal Election 2016


Black Red Devil

Recommended Posts

7 hours ago, Habitat said:

The real elephant in the room that has grown alarmingly over the last 15 years particularly, and is now beyond the stage it can be rolled back. There is no doubt that residential development at the fore of the economy is not a sustainable economic model. And I am sick of hearing about how Australia has not had a recession in decades, chalk that up to overseas borrowings, most of it to pump up real estate prices, being counted as growth.

Couldn't agree more. Yes the banks should also take some blame for fanning the property speculation fire. 

Link to comment
Share on other sites

 
12 minutes ago, Leto_loves_melange said:

Couldn't agree more. Yes the banks should also take some blame for fanning the property speculation fire. 

It is the greatest change in the economic life of the country in my lifetime. Neutral for people who own one house, a bonanza for the small minority who own multiple homes, a disaster for the many people unable to afford to buy in.

  • Like 2
Link to comment
Share on other sites

Solution ? Joe Hockey said, "get a better paying job", Turnbull suggested hitting up your parents for the deposit. 

  • Like 2
Link to comment
Share on other sites

1 minute ago, Habitat said:

It is the greatest change in the economic life of the country in my lifetime. Neutral for people who own one house, a bonanza for the small minority who own multiple homes, a disaster for the many people unable to afford to buy in.

Buddy a whole generation will be left off the property ladder if nothing is done. I remember a real estate friend of mine saying that house prices used to equate to 4-5 times the average wage for that area... this figure has risen to 10-15 and even more in some areas. No wonder the economy is sluggish... after paying the bank its monthly service fee no one has anything left over to spend into the real economy.  

  • Like 1
Link to comment
Share on other sites

2 minutes ago, Leto_loves_melange said:

Buddy a whole generation will be left off the property ladder if nothing is done. I remember a real estate friend of mine saying that house prices used to equate to 4-5 times the average wage for that area... this figure has risen to 10-15 and even more in some areas. No wonder the economy is sluggish... after paying the bank its monthly service fee no one has anything left over to spend into the real economy.  

When the repayment of funds + interest back OS from all the borrowings starts to exceed the ingoing new borrowings, there will be a very long period of economic stagnation. For two decades the economy has ridden the wave, it is about to become a shore dump.

Link to comment
Share on other sites

1 minute ago, Habitat said:

When the repayment of funds + interest back OS from all the borrowings starts to exceed the ingoing new borrowings, there will be a very long period of economic stagnation. For two decades the economy has ridden the wave, it is about to become a shore dump.

We were very lucky i think to have survived the GFC without any correction and even more so the mining boom. With little prospect for the mining industry to pick up any time soon and without any other industries worth talking about plus no room for sustainable property prices things don't look good. God help us if the construction industry collapses and unemployment goes through the roof.

Link to comment
Share on other sites

2 minutes ago, Leto_loves_melange said:

We were very lucky i think to have survived the GFC without any correction and even more so the mining boom. With little prospect for the mining industry to pick up any time soon and without any other industries worth talking about plus no room for sustainable property prices things don't look good. God help us if the construction industry collapses and unemployment goes through the roof.

No one talks about $1.6 Trillion of private, mainly housing debt. Paying it back will cripple the economy, the whole thing has been sustained by just increasing the borrowings. Has to end sometime.

  • Like 1
Link to comment
Share on other sites

Just now, Habitat said:

No one talks about $1.6 Trillion of private, mainly housing debt. Paying it back will cripple the economy, the whole thing has been sustained by just increasing the borrowings. Has to end sometime.

It will never be paid back any time soon and if it keeps up the children will also inherit this debt. Every year i think the government has to borrow 35 billion dollars just to balance the books. A far cry from 7 years ago when we had a budget surplus of 10 billion. 

Link to comment
Share on other sites

On 7/17/2016 at 0:07 AM, Leto_loves_melange said:

But Frank its just not about doing good its giving the economy real direction. There are ton's of other investment opportunities without having to make something as fundamental as owning a home mission impossible. Speculation on capital gains on houses eventually reaches a point where the pain is multiplied. Look at what has happened in China and elsewhere, especially during the GFC. Bad loans are bad loans and shouldn't be encouraged IMO. I think its a false economy and not to mention bad for society.

Like 2008 in US, they created a better economic appearance until the bubble bursts. The politicians start all over to encourage more home loans and equity lines as credit card secured by home. Then they  sell non prime to investors and pension plans at the end of boom. Politicians like recreating the same cycle because it makes them look good at the beginning during their terms. But the bubble always bursts again! They blame the other party in office too.

  • Like 1
Link to comment
Share on other sites

13 hours ago, White Unicorn said:

Like 2008 in US, they created a better economic appearance until the bubble bursts. The politicians start all over to encourage more home loans and equity lines as credit card secured by home. Then they  sell non prime to investors and pension plans at the end of boom. Politicians like recreating the same cycle because it makes them look good at the beginning during their terms. But the bubble always bursts again! They blame the other party in office too.

I see your point but in Australia the politicians and banks haven't triggered any correction. So if the market collapses then the damage will be multiplied.

  • Like 1
Link to comment
Share on other sites

Colour me completely and utterly surprised that Malcolm "Smooth Operator" Turnbull has said the plebiscite on marriage equality will be delayed until 2017. 

You know the one, the thing that was going to be the first order of business.

Link to comment
Share on other sites

On 7/21/2016 at 8:36 AM, Lord Fedorable said:

Colour me completely and utterly surprised that Malcolm "Smooth Operator" Turnbull has said the plebiscite on marriage equality will be delayed until 2017. 

You know the one, the thing that was going to be the first order of business.

He's prepping up to break Abbots record of 25 broken promises in a 150 days.

  • Like 1
Link to comment
Share on other sites

 

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Recently Browsing   0 members

    • No registered users viewing this page.