Quote:
Originally Posted by Venomous1
I reckon we are in one already nobody wants to admit it. Too many people are doing part-time or casual jobs too in the economy.
sad how the business all want to save money by cutting everyone's hours and pushing for casual contracts etc. then when spending is down and economy is hurting they have no answer.
We have been funneling down since 2009. Some areas have held stronger for long but will be interesting 18 months from here.
Housing market has been riding on this ever growing wave of price increases.
and has pushed beyond the bracket of most middle class earners. We are the stage where so many people are in over there heads but got a loan anyway.
I know for sure I can't buy jack **** in WA southwest prices are insane.
anyway ranting...
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SHORT SIGHTED GREED and ignorant council town planning intelligence !
Developers buy a large house and land Block in the outer burbs for 650k.
They subdivide it into 4-6 RAT Cells with no yard or room to fart in / or worse , build 10 units and then want 800K for each one..... So realistically - there is more housing available - but in such ridiculous price ranges that its out of reach of the average worker for whom these housing estates should be made available to... otherwise - why subdivide in the burbs in the 1st place.
All this development is pandering to investors who then rent out these rat boxes at ridiculous prices and lock low to medium wage earners into the rent cycle. Low/ ZERO Interest rates and ridiculous , unsustainable low skilled Immigration numbers is driving the majority of the heat into this cycle..... Low paid people spending majority of their money on rent with no recoverable assets as security on other small loans / credit cards etc.....its here to stay with no brakes on until it goes BOOM .