auction result facts for this weekend, page-12

tcisboss

looks like the age reports the figers from the REIV which are the people who put out the figures.

http://www.reiv.com.au/home/inside.asp?ID=162&nav1=652&nav2=162



Warnie!

lets look at where this all starts at the bottom of the scale.

Interestingly the cheapist 5 houses sold were 275K / $306K / $310K / $310K / $311K

so looks like the cheapest house to go at auction now is around $310K

looking at seek.com.au there are thousands of jobs all around $45K for adults. which is $700 a week net.

Assume somone like this saved up $15K deposit to buy a house, they would need a loan on $295,000 which is $575 a week at 9%

that means they have $120 a week to live on for food/insurance/petrol/bills/car loan/clothing/etc etc

no wonder the economy is screwed with no one spending money on retail anymore!!