Australian property market - meltdown / bloodbath - when is SG's turn

[joemartini]

when SG going to kena???



https://www.businesstimes.com.sg/pr...ing-slump-wipes-us128-billion-top-two-markets

Australia’s housing slump wipes US$128 billion off top two markets​

This is likely to weigh on the wealth effect that underpins consumer spending

• Australia’s property market has largely been a one-way bet for the past 30 years and was amplified during last decade’s run of ultra-low interest rates. PHOTO: REUTERS

[SYDNEY] Australia’s housing downturn has wiped US$128 billion off the value of the nation’s top two markets so far this quarter, a result that’s likely to weigh on the wealth effect that underpins consumer spending across the economy.

Sydney prices dropped 2.7 per cent between Mar 31 and Jun 25, erasing A$120 billion (S$107.3 billion) from the value of stock, while Melbourne declined 2.3 per cent, shedding A$65 billion, according to calculations by Bloomberg Economics based on data from property consultancy Cotality and the Australian Bureau of Statistics.
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[k1976]

SG has many many foreign talents here and a very very small property market vs Aussie…very easy to defend wan

 

[cocobobo]

Haiya talk like big disaster. I thought drop 30%.

2% property price drop more like birdbath

 

[supreme]

Just the beginning of the end. HK property market nose dived 30% at least past 2 years. CBD shophouses crashed 50% and still no takers. Go walk nathan street and u see many shops untenanted. Good riddance to speculators. Heard alot of suicides in HK amongst the speculators. Like Sinkieland past 10 years they keep harping property prices would not drop. Im laughing at these morons. In Sinkieland already prices on downward trend. Just agents keep talking crap. Once AI comes onboard and interesr rates gies up u would see alot of jumpers. Like they say Sinkieland always
mirrors HK market just lag 1 or 2 years.

 

[404]

Aiya, that $128 Bln is just paper loss, however, it can have a powerful, indirect impact. When people feel less wealthy because their home's value has dropped, they tend to spend less