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Why The Australian Property Market Is A Joke, page-86

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Greginv45

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24/10/22

08:37

Post #: 64350421
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Originally posted by NickoZ: ↑

1. The Media Companies Pumping the Property Market also own the main apps/ websites used to search for properties in Australia.

2. Everyone is fixated on how low interest rates are when they should be fixated on whether they can afford to repay the Principal.

3. You can't lock in a low interest rate for the term of the loan generally the best you can lock in rates for is 3 to 4 years.

4. If in fact the interest rate went up 100 points i.e 1% a lot of mortgages would be in distress. If rates say went up to 5% again remember 2012, then a lot of people would loose there houses.

5. The same real estate agents pumping up the prices will be coming up with sad stories shortly asking you to increase your offer to purchase a house when the downtown hits after they sold it to a family that couldn't afford it in the hot market.

6. Other then the bizarre effect of black swan events the property market moves in six year cycles. Don't buy into the hype there will always be the next downturn.

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It sure looks like the Australian property market is overheated. The economical crisis have pushed a lot of people to go for real estate as a safe haven property to seek protection from inflation.

The prices have increased way too fast and we may face a correction in real estate prices soon.
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