Australia housing bubble

[hayseed]

Originally Posted by Bossxr8

If I remember correctly Ireland got absolutely smashed during the GFC. Barely caused a ripple here.

Correct.. & the Aussie Gooberment doesn't have big Budget Surplus to help us ride it out this Time..
I reckon We're in for a Hard Landing, next Time..

[BENT_8]

Originally Posted by hayseed

Correct.. & the Aussie Gooberment doesn't have big Budget Surplus to help us ride it out this Time..

Oh, bugger, we're due for a new flat screen TV too..

[Syndrome]

Originally Posted by hayseed

Correct.. & the Aussie Gooberment doesn't have big Budget Surplus to help us ride it out this Time..
I reckon We're in for a Hard Landing, next Time..

Or they pour in so much borrowed money that the next three generations will have to repay.

[snap0964]

Originally Posted by hayseed

Correct.. & the Aussie Gooberment doesn't have big Budget Surplus to help us ride it out this Time..
I reckon We're in for a Hard Landing, next Time..

ScoMo and Friedy might deliver a surplus come 2Apr - too little too late I'd think, the damage will already be done. But then they might be doing a Wayne Swan, or it might end up a belated April fool joke.

I've got a good idea - let's put in a Mining Tax - we'll rake the $$$ in

[Work Horse]

Originally Posted by snap0964

ScoMo and Friedy might deliver a surplus come 2Apr - too little too late I'd think, the damage will already be done. But then they might be doing a Wayne Swan, or it might end up a belated April fool joke.

I've got a good idea - let's put in a Mining Tax - we'll rake the $$$ in

Important to distinguish between a Government deficit/surplus for a fiscal year and total Government debt accumulated over several years.

Politicians will try and confuse the two to make themselves look good.

Government debt (the amount we have to pay back) was at $174.5 billion in September 2013. Government debt is now about $341 billion. So both major parties have run up this debt.

Is Government debt a good thing or a bad thing?

Ask 5 different economists you will get 6 different answers.

IMHO the housing bubble is deflating. How fast and far it will deflate is the reason this thread is still going.....

[zipping]

Originally Posted by Work Horse

IMHO the housing bubble is deflating. How fast and far it will deflate is the reason this thread is still going.....

Potentially, things could get ugly imo.

Risk for small business is especially horrendous.

And the government is making that risk worse and worse. Electricity prices through the roof. Taxes upon taxes, mostly crazily levied on inputs. Red tape exploding. Green tape exploding even worse.

[Work Horse]

Originally Posted by zipping

Potentially, things could get ugly imo.

Risk for small business is especially horrendous.

And the government is making that risk worse and worse. Electricity prices through the roof. Taxes upon taxes, mostly crazily levied on inputs. Red tape exploding. Green tape exploding even worse.

I'm in small business 20 years now, it's always "swings and roundabouts" with the economy you have to ride it out.

Our governments have some levers they can pull which effect Australias economy, including housing. Australia is a small player in the world economy. Our economy is influenced more by factors outside the Australian Governments control.IMHO

[snap0964]

Originally Posted by Work Horse

Important to distinguish between a Government deficit/surplus for a fiscal year and total Government debt accumulated over several years.Politicians will try and confuse the two to make themselves look good.

That's why ScoMo is crowing it'll be the first surplus in over 10 yrs.

Originally Posted by Work Horse

Government debt (the amount we have to pay back) was at $174.5 billion in September 2013. Government debt is now about $341 billion. So both major parties have run up this debt.

I thought the overall debt now was estimated to be closer to $500 billion.

Originally Posted by Work Horse

IMHO the housing bubble is deflating. How fast and far it will deflate is the reason this thread is still going.....

Well Stuart Wemyss seems to think otherwise, he has been pretty accurate in the past, https://www.prosolution.com.au/calli...e526c8e9e59ac7