/biz/ - Business & Finance

Good. Let it burn. When you can buy a beachfront property in Malibu cheaper than a run down fibro house in the inner west of Sydney there is something sick in the market. Plus the obvious fact that everyone in this country is obsessed with television shows about property auctions, renovation reality tv etc. Burn Burn Burn.

>>8412876
Can't wait until these yuppies who bought at ATH see their interest rates rise and property value fall off a close cliff.

>>8412876
damn, misread that as austria

>>8412876
Property in aus is an elaborate pyramid scheme. Can't wait to see more homeless

does commercial property also crash with the residential market?

>>8412935

>>8412906
Another thing that shits me is the fact that our whole economy seems to be dedicated to housing. Commercial areas are full of real estate agents and mortgage brokers, industrial areas are full of trade suppliers. Go and look on seek and a huge portion of the jobs seem to be property management.

The other obvious issue is that Chinese are laundering money into Australian property and leaving them empty. I know several couples on house number 4,5,6 paid for by thier "uncle"

>>8412964
Canada ain't far behind

>>8412974
I think you guys actually did something about it though (vacant property tax / foreign investor tax) The Australian government just strap on the knee pads and assume the position.

>>8412876
It’s only the inner suburbs of the big capital cities that will go backwards and so they fucking should.

Keep an eye on Toronto ..

>>8412944
of course

>>8412928
You know I was thinking about investing in property in Austria, want to look at the prices here’s my thought process

>western/central euro nation
>right wing nation
>going to shut down immigration
>less troublesome Muslim
>less trouble = more desirable to live there
>Germans and other westerners sick of Islam will want to go there
>central/eastern euros wanting a better life will move there
Seems like a good long term investment

People have saying it will crash for the last 5 years. It only doubled.

>>8412996
Well it will have a ripple effect. Outside suburbs will also be hit. Nearly every aussie family will be effected if this happens again. I'm waiting to buy. Property has already started dropping, but I don't think if will go down drastically unless they raise interest rates by a few points

>>8412996
pffff melbourne outer suburbs are even worse...

>>8412876
Ahh, this is great.
If Melbourne house prices crash 30% or more in this year I'm definitely moving there from the Netherlands.

>>8412909
Yeah I also can't wait for the economically illiterate and 100 iq middle class to get completely fucked by greedy kikes again.

>>8413033
There's been talk and the usual warnings etc.. and that has all been getting louder.. but the normie has never said it will crash and does not believe this is possible, literally a rise in interest rates is the only thing that is going to stop this train, until that happens norman is just going to keep buying

>>8412876
Fucking finally. If only my memecoins had any gainz left that would be sweet

>>8412985
How would eliminating the buyers from the market possibly benefit the market?

>>8412996
The big capital cities are all that matter in this country, regional areas have been stripped of their economy and their young people have all left for universities and city life.

>>8413033
Current prices are unaffordable unless bought with Uncle Chong's money.

>>8413082
fucking bullshit, these niggers buying everything and anything they can borrow money for are the problem, literally mainstream greed that's overdue for backfire

>>8413102
Not talking about the speculators.

>>8413028
>going to shut down immigration

You stupid faggots really believe everything you read on an anime imageboard

>>8413123
owner occupiers don't have a problem, they can still live in their homes

>>8412876
chinks going to get burnt. delicious.

>>8412876
It's not going to happen. The government will find a way to keep it propped up.

>>8413075
If they crash that far, there will be negative consequences for the whole economy. It’s not gonna fucking happen I’m sorry. It’ll stagnate sure but it’s not going backwards.

>>8413154
Everyone knows it's overvalued. I agree that they'll try something though - my guess is they'll start giving more money to first home buyers.

>>8413101
good for people who don't own a home, bad for those who for example own multiple and want to cash out

>>8413161
do you have not the slightest fucking idea how overinvested the normies are in this shitcoin anon?

>>8412909
That’s fucked, you’re clearly a degenerate or too young to understand. I’m 33 and we’ve inherited this problem from the greedy af boomers and our piece of shit government who doesn’t actually give a fuck about anyone who isn’t an elite. If the interest rates rise to the point where people can’t service their loans, the banks fuckin win nobody else.

>>8413200
There are property investment companies whose sole job is to get normalfags to buy 5, 10, 15, 100 property portfolios. Binvested is one of them, their owner Nathan Birch has coincidedntally just sold a shitload of properties to shore up his portfolio. The money knows it's coming.

>>8413216
The banks most certainly will not win, it is their money on the table senpai and everybody fucking knows it

Housing crash in europe too btw.

I'm having trouble selling my property which is a real bummer I was going to use the money to finance my beach house

>>8413216
>don't hate the system goy, hate your own people, the ones who are just looking out for their own best interests just like everyone else

>>8413200
Yes retard. But do you seriously believe that we’re gonna crash -30% in capital cities? Cunts have been saying this shit for like 10 years.. I believe it will stagnate not keep growing at such an insane rate

>>8413234
You know over in china they were running this shit on chink normies, they would front the deposit at a ridiculous rate to get them on the rocket, these average chinks will be even more BTFO, don't know how rampant it was though

>>8413255
Wtf are you even talking about. Boomers and our government have let our country become cucked by China and degenerate immigrants. At what point did I stick up for the system you literal mong

>>8413260
Something like a rate squeeze then sure, one in three motherfuckers is pulling this interest only shit on multiple properties, yields are negative, your average individual has next to fuck all buffer

>>8413260
>past performance predicts future performance
Please tell me how people can afford to service 50k+ a year on a mortgage? You need two very good incomes for the bank to even give you a mortgage big enough for Sydney or Melbourne property.

Melb / Sydney will just turn in to London, NYC etc. A few people will own most of the properties, everyone else will have to rent. I have friends who own 5+ properties, and the bank is letting them buy more. It's crazy but doesn't seem to be slowing down because the politicians use this same tactic

>>8413323
Maybe your goys already made it I don't know, but I see a lot of next to no equity on multi properties, this is quite literally the weak point of the market because you quickly run out of room to write off the loss and are basically forced to sell

>>8413323
Often times they use trusts and trustee companies to hide their other houses so the banks don't know they're already on the hook for millions of dollars.

>>8413028
You should stop believing what you hear in the media. The will shut down nothing and are not even freely able to launch laws for minimum collateral, because they would be against the constitution
>Good long term investment

what's the REAL current Chinese population in aus? Anecdotally, from when I walk through the CBD, I'd put it at at least 1 in 5. I'm not exactly sure what Australia will look like in the next 20 years but I'm assuming parts of it will start to approximate Chinese cities more and more. Whites may find themselves as 2nd class citizens as the chinks gain more economic and political power. Either way, boomer cunts deserve to be homeless. They inherited a paradise and rather than conserving it for their children, they peddled it away to savages condemning their own progeny to indentured servitude. Boomers are cockroaches, they deserve every misfortune.

>>8413410
I was in Springvale today and there were 10 Asians to 1 white. Same as chadstone shopping centre

>>8413410
chines cross aborigine? chabo?

>>8412985
It's smaller than it sounds and some of the new regulations actually made it harder for local first time homebuyers to qualify for a mortgage
Our train hasn't stopped

>>8412964
>>8412974
Seattlefag here... same here. 2 on my street.

>>8413410
Damn, the way she eats them makes it look like they're delicious. Anyone get this feel?

>>8413216
You've proved my point.

Boomers have fucked us all, again, but that doesn't mean that a gen Y wage cuck normie has to fomo in at ATH to buy a $1m 1 bed shithole in Bondi and be stuck paying it off for eternity or eventually hand it back to the bank. Why not rent until the inevitable happens and buy at a low. Markets are cyclic.

>>8413459
>chadstone

Holy shit what a name

>>8413483

Guys you always forget that there are1.3 BILLION chinese that's 1/6 of global population

>>8413410
They apply for IT jobs without being able to spit out a sentence of English.
Oh boy I'm having fun at those interviews

>>8413509
It's that bad though, they literally believe they have to and that nothing could go wrong on 10x leverage

>>8413057
They're not. Your talking out of your arse. The biggest declines in Melbourne were a couple of percent lower than last quarter despite houses having risen someyhing lile 10% a year for the past decade. There wont be a crash only a slow down. This isnt crypto cuck.

>>8413410
Lol I'm not a boomer but I lol everytime one of you fast-food working millennial cries about this shit.

Always gotta have a boogeyman to blame for your ineptitude I guess.

I just don't know how people are such failures. I've been on six figures since 25-26 yo. I've managed to save and invest 60-70% of my income year in year out. I'm very comfy as a single person, dual-income is even easier.

Meanwhile I've met doctors and people earning 1K+ a day with shit all savings crying about the fact that they can't afford real estate. No shit faggot, maybe stopped spending all your money on mercs, uber eats and renting a 4 million dollar house you'd actually get somewhere.

>>8413028
>out investing in property in Austria, want to look at the prices here’s my thought process
>>western/central euro nation
>>right wing nation
>>going to shut down immigration
i live in Austria
alot of Innigrants
Price for a Appartment 70-100 m2 over 200000 in Graz
In Viena you pay 3000€ for 1m2 for a Appartment

>>8413517
Hahaha never thought of it until now

>>8413237
probably one of the dumbest sentences i've ever read

>>8413572
>reddit spacing
>capitalizes L in lol
>"I'm not a boomer"
you need to leave man, this is not the place you're looking for

>>8412876
>Owner expectations
>Sydney

Because they have retarded expectations because it's fucking Sydney

>>8413653
Why anon?

>>8413573
Thats unfortunate

... so you’re saying an apartment that’s 200000 in Graz is 300000 in Vienna? I would have thought the price in Vienna would be far greater than other places in Austria.

At least that’s the case here with Auckland compared to the rest of NZ

>>8412876
Not shocked at all, I've seen this coming for a year. It was a bubble caused by speculative investors buying properties that they didn't even plan to live in purely for the sake of selling them at a profit.

The price increase was such an obvious bubble that it was painful.

>>8412876
This could trigger a financial recession in Australia too BTW. That's how much of Australia's finance is tied into real estate.

$1.65 mil, holy shit that is a bargain.

Obligatory post for all aussies to read about the state of their economy
https://medium.com/@matt_11659/matt-barrie-australias-economy-is-a-house-of-cards-6877adb3fb2f

>>8413459
springvale has always been viet central. it was viet central 25 years ago

>>8414145
i called this in 2015 and moved to preinvasion germanistan

>>8414105

Fucking lol at the home loan ad.

>tfw putting all your savings into crypto instead of a deposit

We're gonna make it boys

>>8414218
Hows that going?

>>8413914
the banks always win, even when it looks like they lose they still win.

>>8413517

MFW I never noticed that, I haven't been to Chadstone in years but have been plenty enough

>>8413509

Australian property has not been cyclic because it is a highly politicised market. Any downtrend is prevented by new government policy such as the first home buyers grant (which only helps to drive up property prices because suddenly banks are willing to give out bigger loans which in turn fucks young people harder) and increased immigration, haven't you noticed the shitskins fucking everywhere in the last 10 years? The government and the filthy fucking boomers sold us out.

>>8414376
I'm not even sure that I want to own property in Australia anymore. What's the point? So that my children can grow-up as a minority in a multitude of minorities with the Chinese government as overseers of their country?

>>8414466
Yeah, shit needs to change or Australia's going to end up almost literally becoming a 3rd world country in 20-30 years. The entire economy is based on markets that are either about to collapse or about to literally stop existing (like coal, steel, property, etc). Australia just has no complex exports or major income generators like electronics, IT, Entertainment Industry or anything like that, it's all based on basic resources, many of which are on the way out as valuable resources all together.

And yet the politicians here seriously think that the market for fucking COAL is going to double in size over the next 20 years when the blatant truth is that coal will be basically worthless in 20 years because everyone will be using other means of power generation that are better.

>>8413323
wtf did the banks not remember what happened in 2008, it was their greed that caused the economic recession.
I fear the next recession is coming this or next year.

>>8414941
It's not going to be a recession for Australia this time.
It's going to be a depression that will tank the economy for decades if things keep going the way they are.

>>8414992

What does a depression in Australia mean for global markets?

>>8414992
is this good or bad for someone that's going to graduate and find a decent job in 2 years

>>8415043
That is somewhat dependent on the field.
What kind of job?
In general the answer is no but some jobs are relatively recession/depression resistant and can offer some security, allowing you to continue earning while things get cheaper and cheaper due to lowered earnings by everyone else, allowing you to save more money for when things start to rebound.

So yeah, what field?

>>8412956
Welcome to the US, right before our housing crash. All those marble counter top installers, house rehabbers, construction guys, HVAC/Plumbing, roofers, got hit right in the nuts overnight when the market crashed.

My brother in law was a carpenter, he went from turning down work because he was too busy, to not working for months, in less than a month.

>>8413161
That's what everyone said here in the States, right before it crashed.

>>8412876
I blame Matt Damon.

>>8415066
will be a bachelors of information technology (networking & cybersecurity) but would ideally move towards data analytics/big data. trying to get as many extra certs as possible

>>8413410
There will be a war in Australia in the next 50-100 years.

>>8413519
And most of them are poor. The income gap in China is way worse than it is here. There's more of them, but the vast majority of them don't have the wealth to buy property overseas.

it's good that we know what the problems are but i just want to chime in that our economy isnt all that bad

(speaking fot QLD) we are transitioning from the mining boom into a service based economy and govs are investing heavily into high capacity railways/ more buses.

This can potentially making it viable to live further away from the cbd as it takes less time to travel and public transport becomes more accessible.

Transit-oriented developments are gaining traction as well, for example we have a $1billion buranda station masterplan going on in brisbane that's developed by foreign holding groups.

Couple of speculated TODs coming up for cross river rail as well. Australia is transitioning into knowledge intensive, service based economy like Singapore and the rails will prevent density bottlenecks that can potentially inhibit growth. Coupled with the upcoming Queens wharf precinct, the change that will happen to Brisbane in the upcoming decade can be dramatic (definitely more foreigners, they're becoming a significant portion of our "export")

>>8415164
What's the average salary, compared to housing prices?

That will tell you how bad your economy, and how hard housing could crash there. You have an obvious housing bubble there, and it could take down otherwise healthy sectors of the economy.

We were steaming right along here, until it didn't.

>>8415117
Then you're probably pretty good.
Data Systems Analysts and Network Systems Analysts are number 1 and number 2 on the list of recession/depression resistant job types due to being relatively unaffected by economic downturn. Basically companies still need people to analyze their data even if the economy has gone to shit, in fact in some cases they might actually need MORE people doing this due to the economic downturn.

Good pick honestly anon. You should be able to stick your job and survive through depression, just make sure you get hired by a company that is unlikely to significantly downsize or go under completely as those are scenarios where you could still lose your job.

About 15-25 percent of people in your field will lose their jobs in a depression (this sounds like a lot, but when most fields are sporting a 50-75 percent chance of job loss it's actually exceptionally good, companies are also often less likely to fire newer employees due to not needing to pay them as much as older, more experienced ones as long as the newer guys are really good at their job).

>>8414941
The banks don't give a fuck, there's already a fuckhueg emergency fund set aside for the by the government for when the housing market crashes.

>>8415164
I doubt if the profits from foreign student's uni fees will be put to good use though... A foreign student will pay a total of ~40k per year in uni fees. I have a few international students and they told me overall expenses would be about 450k for the entirety of their education (including living expenses). That's 450k per fucking student, give or take 50k. Where do the money go?

Apprently unis are getting scrutinized on their balance sheet as well, of which has never been done before. Results wont be published until 2020ish which is bullshit

>>8415202
that's good to hear. i've already sold all my crypto and lost like $1k as a student and feel like a complete fuckwit so i'm pretty determined to try to make a fuck load of money the old fashioned way. getting as many extra certs and doing as much extra curricular stuff as i can

>>8415193
there has been an oversupply of apartments and student accomodation within inner city area, with several more under the pipeline.

That's gonna be good imo, hope it drives the prices down

>>8414466

Fucking this. Ya know how bogans say "Love it or leave it?". I'm leaving -sooner rather than later. This fucking recession is going to be shit when it hits. And why the fuck would I pay millions to live in a chink colony?

And I'd stay if I thought there was any chance of it changing. But there's not - Aussies fucking love the loser nanny state and that chink money. So later Australia, gg.

Finland here I come.

>>8413914
it's literally not the bank's money on the table you moron. that's the whole reason for down payments. the banks have a large safety buffer. even if values went down a lot they'd make tons of money. it's when the rest of the economy goes to shit and people cant get jobs to keep paying that things become a problem, but even then the banks still win. think about right after 08/09. There were ~150 banks failing per year in the US during that time period. but on a net basis the banking industry made money and will always make money because it's rigged more than a casino

>>8414105
Jesus Christ, that looks worse than my family's country house valued at like $50k

>>8413517
Wait until /fit hears about this shit

>>8415270
Sold all your cryptos? Gullible faggot are we?

>>8413459
>The Virgin Vale
>The Chad Stone

>>8414376
How gud was australian media saying there is no African gang problem in Melbourne. Every newspaper clipping "african appearance" home invasions, carjackings, stabbings. And that's the ones reported in the paper. There is an obscene amount of Africans going through magiatrates and supreme court. I thought Australia coulda learnt from dutchies in Africa so as not to inherit this problem.

>>8415435
it's just too stressful honestly, i'd rather go for something slow and steady rather than have investments go up/down 50% every 2 weeks

>>8412906
Haha. Same in Norway. Shows about flipping

>>8412876
>Just letting you guys know that the property crash has basically started in Australia
About fucking time, it's been above wage growth since the 90s

Canada and New Zealand are the same aren't they, and Britain to a lesser extent? Seems like the whole Anglosphere barring the US is on the brink of collapse since they have nothing but resource extraction finance/real estate.

>>8415417
it literally is the banks money, they stump up for 80 - 90% of the property and hope they get paid back. a huge proportion of people pay back nothing more than the interest on the loan leaving the bank holding the lions share of the bag. the thinking behind this is that property always goes up so buy as many as possible to sell for more later, when that stops working out it's fucking bit coins senpai.

>>8415808

UK here. The government has exhausted all avenues in propping up the boomers ponzi scheme.

Now they can't even sell new build rabbit hutch shit tier houses even with a lot of incentives (5% downpayment, 20% gov equity loan that is not payable for first 5 years etc.).

Plus we are about to be nuked by Russia for talking shit so above ground property will be worthless. The market is shifting towards subterranean vaults in the Scottish Highlands.

>>8416256
>yfw Boomerism is one big exit scam

>>8416284
You think their ancestors will have a warm greeting prepared for them?
If I was a boomer I'd be hoping the atheists were right.

>>8416344

They exchanged the cumulative work of all before them, and the futures of all that follow them for their own selfish wants.

Truly the worst generation in the Western world.

It is up to us to try and restore order into our fractured societies.

>>8416543
It's ridiculously sad how true this is.
That generation benefited massively from what their parents had built up, coming of age at exactly the right time to be able to make huge gains as the worldwide economy boomed.
What did they do with this? They used it to leech off of their children and grandchildren, driving up prices and living costs for everyone other than themselves.

Boomers are the ultimate parasite generation, they basically sucked the life-blood out of the economy and their own fucking descendants for their own benefit.

>>8416543
>Boomers vote for endless gibmedats like niggers, massively expand the scope of taxation
>Boomer sexual revolution leads to fertility rates tanking
>Can't afford their gibmedats now
>Well, I guess we "need immigrants" now to pay our pensions. (This is a lie.)
>But it DOES increase our property values. We love property values. And our nanny, Dolores is nice too.
>Happily sell their overpriced properties to Changs so they can use the money to buy other properties and sell them to other Changs for more money
>It's also fighting racism and like we did in the 60s you bigot! Kids nowadays are all becoming Nazis! Where did we go wrong?!
>Vastly expand the scope of government employment, on 3 pensions at once and retired by 55
>When informed that this is a ponzi scheme that will collapse in the long run due to insane levels of debt, they say "Oh well, who cares, I'll be dead."

Literally an exit scam.

>>8413183
it's not good for us, they are going to use taxpayer funds to bail out the banks

or more specifically, just add it to the deficit or print it.

I have been waiting for this day

OOOOOOOO

>>8412876
>Big opportunity here to wait a year or so for the fallout to settle
Ahahahahaha anon youre fucking delusional if you expect green shoots a year after the next crash.
This one is going to suck

>>8416853
it reduces flow to the ponzi, there will be less to bail the banks out from later. otherwise you need a perpetual chink buying at higher prices forever in which case your tax will merely be collected by some fucking dog farmer

>>8414105
wtf I swear I've seen this exact house in my dreams

>>8412876
Oh no, the Changs won't be able to launder money anymore!

>>8412956
when the only certainty in this world is the population will keep growing, things like living space, food, and land are the only surefire bet.
very simple, yet sound, logic: the demand for these will only go up, and with the case of land, the supply will never increase. safe market. until WW3 ofc.

>>8416543
>>8416740
I'm not one to complain too much about the outside world but it does feel like we live in bizzarro fucking land when you hear about some of the old pension deals from government jobs that some of the boomers have had.
>retire at 55
>live to 90, courtesy of the NHS paid by the people still in employment
>get paid monthly pension equivalent to that of the highest yearly wage you have earned, cucking everyone else (i literally know of someone who was put as temporary manager for a year before going back down to a lower job and is going to be getting the salary of that manager job)
>triple locked state pension because muh votes
>5 bedroom house for a 1 couple with no kids

The irony is that it's the most nannied generation ever that has been able to dictate all of the political end economic decisions for the last 40 years

>>8418457
then get and vote....millenials have never turned out to vote yet complain all day about politics

>>8418670
I've voted every single time I could you fucking pleb, besides as I said I don't really give a fuck about what other people have or don't have and just focusing on getting my own shit in order.

Also this board is a complete shitshow lol

>About to leave Canada because Chinese bought up all the houses
>Cousins in Australia tell me about this
Where the fuck do I buy a house?

>>8418457

I worked in a government job for 6 years here in the UK.

It was filled to the brim of unproductive boomers "doing their time" until they get to cash in their cushy pension, while new entrants were put on Alpha pensions which is defined contribution vs the boomers' defined benefit pensions (final salary).

On top of this, the boomers had classic contracts which meant more annual leave, more flexible working hours, all had parking permits to park on site while younger staff had to park miles away and walk in or get shitty public transport (15 year service for a parking permit).

I quit and went to the private sector. They need to cull a lot of public sector jobs and automation will do just that.

>>8418778

Also note - automation will affect the non-boomer generation primarily, because most boomers will have retired by the time lot of job numbers are culled.

So your job will be taken by a robot while boomers who pushed paper inefficiently for 40 years absorb the tax yield into their pension payments sitting on massive property equity with 1.8 children who have moved out to pay 30%+ of their take home income in rent to other boomers.

What a time to be alive.

>>8418752
Spain

You'll feel right at home with all the anglos fucking around

>>8418778
ex us gov employee here, story is so similar it's scary. i was taken aside and told to stop working so hard b/c it was making everyone else look bad.

clock-watchers with mega pensions and entitled attitudes. i despise them.

just here to say western countries are fucking retarded.
You should never allow foreigners to own property.

prices out your own citizens of ownership... while foreign entities control all your land? what the fuck?

>>8418824
The worst part is that the boomers then have the gall to act like it's just because younger generations are lazy and not because they're fucking leaches sucking so much money out of the economy to support their bullshit boomer asses that everyone else has to suffer for it.

>>8419199
Well this has been brought up here in Australia and much more seriously recently as house prices have gotten completely crazy.
However lets just say that I wouldn't expect that shit to actually get outlawed any time soon because our politicians have 'vested interests' in foreign property investors getting to keep fucking Australian property values over.

>>8414105
CONDEMNED
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