It's getting scary out there.

Originally posted by $$$$$$$$: ↑

Interest rates should never have been so low for so long,
it was irresponsible for them to have done that.
Especially when Australian Houses are grossly overvalued.
The great Australian housing Ponzi scheme has been going on for far to long,
And it is about time the bubble burst.
Other countries have had their House prices crash,
We are due....

The Prices are absolutely crazy,
And some of the most expensive in the World.
Either our dollar is worth less than 50 US cents,
Or House Prices need to crash.
Our dollar gets less House for the Money,
Than pretty much anywhere else in existence.

It was poor financial management to let that happen,
Interest Rates should have been raised far earlier,
Especially with a Housing Affordability Crisis.
Also various policies also have kept propping up House prices for far too long.
Many people have never experienced a drop in House Prices in Australia,
It has been a long time since it happened.
But Markets go up and down,
Too many people had it too good for too long,
And never thought it would happen.

Or was it all deliberate?
The Banks look better off than they really are
due to the houses they own, till the last payment is made, going up.

Should Loans have been given on such overvalued valuations?

Was it all a scam to trap people into overpaying for Houses,
And Trapping them into Loans before the inevitable Interest Rate Rise?

Why have House prices been propped up for so Long in Australia?
Why do we Import Un-Skilled Immigrants to prop them up further?
Why did they not reduce Immigration to look after the best interest of Australians,
And take pressure off the Housing market?
Not to mention our Roads, Hospitals and Schools cannot keep up.
Why haven't we banned Foreign Investment in Real Estate,
Like most sensible countries have?
Especially with a Housing Affordability Crisis?
Was it all to buy the Boomers Vote for all this time?
How did the RBA not realise what they were causing?
Why is their still negative gearing?
Why have their been other policies to Prop up the Construction Industry,
When all they did was increase prices?
How was this allowed to happen?
It is not in Australians best interest....And Never was....

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TU eight $.
The government has to address the empty house situation via taxes or another mechanism.
I was chatting to an old guy on the street this evening, he makes a crust going around the suburb maintaining the
council strips in front of houses. He knows of five large houses - foreign owned - that have sat empty for years.