Share on Facebook Share on Twitter Share on Reddit + - Pascometer red line drives housing sentiment to record low By Houses and Holes in Australian Property, Featured Articleat 10:28 am on July 17, 2017 | 20 comments The nation is sagely listening to the increasingly shrill warning emanating from the Pascometer: Share on Facebook Share on Twitter Share on Reddit + - YOU MAY ALSO BE INTERESTED INCoreLogic weekly Australian house price updateBy Leith van Onselen In the week ended 17Property parasite bullish on ponzi economy "gold rush"By Leith van Onselen CEO of Stockland (andMelbourne wins bogus "most livable" award for 7th consecutive yearBy Leith van Onselen Of all the idioticAnnouncing Fox News (ABC edition)Politics is so weird these days (from The Comments jc2610MEMBER July 17, 2017 at 10:38 am McGrath reckons Brisbane is going to sky rocket over the short-term? All those southerners who can’t afford to buy in Sydney and Melbourne will move to Brisbane. Note the data source includes Melbourne institute. Houses and HolesMEMBER July 17, 2017 at 10:56 am Got big time oversupply but who knows? [email protected] July 17, 2017 at 11:13 am And I suppose when Brissy is as dear as Sydney the next place to skyrocket will be Darwin and Perth and then Adelaide. Same as is happening all over Canada, ah? JasonMNan July 17, 2017 at 11:33 am The only problem I see with that is unemployment. Plenty of MLs in the last 12 months but they don’t seem to be employed. Working age adults seem to be heading to Sydney or Melb. Also the rental market in Brisbane is aimed at student accomodation and it is oversupplied already. I just don’t see Brisbane booming in the short term. GavinMEMBER July 17, 2017 at 1:58 pm As someone who is sitting on the side lines, I’ve looked at Tasmania (briefly), Adelaide, Brisbane etc.. but why jump into an over-valued asset in any of the other states if the pop means they will all devalue in short order? Better to keep your powder dry and wait and buy into the city you actually want to live in eventually at perhaps a 50% discount? Dan July 17, 2017 at 4:40 pm I tend to think no 50% fall. Might be up to 20% falll but then money will be printed and currency will devalue 30% given 50% decline but people will generally only think of it as 20% decline. This will be the problem for those sitting on the sidelines in $AUD as they will be still behind travis July 17, 2017 at 6:09 pm Gavin – Consider this: If it doesn’t fall by 50% then wait for the AUD depreciation into the USD 0.50-0.60 range and then take out a USD mortgage. Wait for the inevitable appreciation back to USD 0.70-0.80 range and then replace USD mortgage with an AUD one. This may take 5 years or so but you’ll benefit in the long run. Clearly risks of servicing increase in USD but you wont benefit if you don’t take risk. GavinMEMBER July 17, 2017 at 6:14 pm Or hold USD based equities and if $AUD plunges transfer to $AUD to purchase.. Yes I agree.. but I think an only 20% correction in prices is Optimistic… GramusMEMBER July 17, 2017 at 11:27 am Foreign buyers and international students don’t care…. The auction clearance rate was up this week as they flood in before the start of Semester 2. The international student numbers are INSANE…. Gustav July 17, 2017 at 11:47 am “Julie Bishop’s Glorious Foundation” welcomes the record number of Chinese immigrant students that arrived last year. We get the politicians that the Chinese government pays for. AlbyManglesMEMBER July 17, 2017 at 11:55 am they must be stingy then Dan July 17, 2017 at 11:59 am International students are well catered for. Apartment prices rises are slowing, ground to a halt in Melbourne. Not so family size houses appreciating at close to 20% pa. No-one is building for families, only around 10% of apartments built in Sydney have >2 bedrooms – and that’s all they’re building. Sentiment or not, many people have no choice. DoseMEMBER July 17, 2017 at 12:28 pm It really does seem like someone told the media to turn it up over the last while. You cannot read the paper and not find breaking news that interest rates can not go up (i.e. ever) tacked onto articles asserting that the stock market is risky and will soon crash. -Don’t spook the horses. -That CERTAINLY is not different here. The BurbWatcherMEMBER July 17, 2017 at 1:04 pm Still all about unemployment swmcl July 17, 2017 at 2:22 pm In my area – Toowoomba – but it’ll be widespread I should imagine, houses that sell way under the original asking price are quietly removed from realestate.com.au. Seriously, the media is suppressing the real story in favour of high prices. I think farmers have a golden rule of setting an asking price of double the value!! Joe July 17, 2017 at 4:24 pm No Chinese money isn’t interested in rural towns where there is zero employment chance and zero facilities. swmcl July 17, 2017 at 2:22 pm In my area – Toowoomba – but it’ll be widespread I should imagine, houses that sell way under the original asking price are quietly removed from realestate.com.au. Seriously, the media is suppressing the real story in favour of high prices. I think farmers have a golden rule of setting an asking price of double the value!! proofreadersMEMBER July 17, 2017 at 3:21 pm The Pascometer – the greatest, surefire contrarian investment tool? Joe July 17, 2017 at 4:25 pm If you actually looked at the performance of Houses, Mining Shares and Aussie dollar, the only conclusion you can come to is that MB is the contrarian indicator. Steernorth July 17, 2017 at 6:49 pm Just let the Chinese buy up everything from the baby boomers. The sooner it happens, the sooner the boomers can fuck off in their vans, or piss off to aged care facilities with their over-inflated winfalls from their sales, and hand most of it over to those same monetised-institutions, who will gladly sell a warm message of luxury and care ….. on the surface…..then it will dawn on those recipients once contracts are signed what the fuck has happened albeit way too late. Australian youth don’t count and not considered in politics……..but they will be….just hold in there young folk.