DTube - Australian Housing Bubble Is Worse Than "Experts" Are Claiming - What You Need To Know!
One of my latest video reports!
See the original article below:
Josh Sigurdson talks with author and economic analyst John Sneisen about the housing bubble situation in many cities across Australia, mainly Sydney as well as the overall issues with the economy.
The annual home value growth in March of 2017 in Sydney was 19%. It has now decreased by 1% which shows somewhat of a turn around.
Interestingly, Sydney makes up for nearly half of Australia's economy!
HSBC's chief economist for Australia, Paul Bloxham recently warned that the housing rally is almost over, but he claimed that it will be a soft landing. Well we've heard that before.
While Australia's localized housing markets aren't as bad as places like Norway or Vancouver and Toronto for example in Canada, it's bad and will continue to get worse. It's that trick illusion of growth in value when risk rises astronomically, dooming the uninformed involved.
John breaks down the problems with Australia's GDP when comparing construction GDP to agriculture GDP. Due to the fact that we have so many Australian viewers, we find it important to continue to spread the message of individual liberty, self sustainability and financial responsibility to those living "down under."
Stay tuned for more from WAM!
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Housing in NYC and the surrounding boroughs is crazy expensive right now. Things are starting to look like 2006 leading into 2008...
Could also look at Ireland and Dublin for the same period!
Everything's about to pop.. Time to buy silver!!
zzzzzzzzzzz wonderfull but ım come here :D
Housiing has a longterm role to play in investment portfolios, but the commbination of the strong gains in the last few years in Sydney and Melbourne, vulnerabilities around high household debt levels as offiicial interesst rates eventually start to rise and low net rental yields mean investors need to be careful
Okayyy good to know.
We are definitely going down the path of Canada. Looking at Sydney as an example you can see there's an exodus of Sydneysiders migrating interstate or elsewhere as the demographic of their birthtown change so rapidly that they cannot keep up.
https://www.macrobusiness.com.au/2017/11/migrants-flood-sydney-city-experiences-brain-drain/
It will end in a property crash as it's a fake economy. The reliance on annual migration intakes ever increasing coupled with a housing shortage have inflated property prices to the levels of London, New York, Vancouver and Hong Kong. Our GDP figures are skewed by how much is actually debt being poured into residential housing.
Thanks for sharing, need more of this sort of analysis.
the question is...what is not a bubble in today's economy? ...bitcoin is a bubble they say... greetings from spain mate! :)
easy to talk down a market high, but demand is ever increasing and where else would you want to live
Bubbles require something sharp to end them... Housing.....it would take adjustable rate mortgages and rising interest rates. The data I have seen says that unlike 2008, the number of ARMS is about 6-8%, not the 40% in 2008. The other possibility is a general recession, with significant job loss.
Reality isn't going to be nice towards a lot of people out there!