Hot soup indeed. Agents selling Aussie properties are panicking and getting desperate. My posts are from credible sources such as Sydney Morning Herald, and not like the whims and fancies of these agents driven by desperate attempts to misguide people and salvage their business ....
This Bloodbath had been predicted middle of last year. What we are seeing now is just the tip of the iceberg.
The best to do is completely ignore these desperate agents, not get discouraged by their slanderings, and keep posting the reality so that people don't get misguided ......
As some folks have posted earlier, it is always good to see both sides of the coin. I have no issues with anyone posting negative about Iskandar or positive about Australia. As an investor, I would like to hear all opinions. However, I can see some people get extremely annoyed to the extent that they resort into online slandering on any negative posts on Australia, for reasons best known to them.
Here is more on the bloodbath that was predicted, this is from Sydney Morning Herald .....
http://www.smh.com.au/federal-polit...bath-collapse-economists-20150622-ghu8a6.html
As per this article .....
And the largest oversupply is in Melbourne where there has been a frenzy of inner-city apartment building. They forecast the total available homes in Victoria outstrip demand by 123,000.
NSW has a surplus of more than 40,000, according to their analysis, which was based on data from the Australian Bureau of Statistics.
"Contrary to the analyses of the vested interests, the data clearly establishes Australia is in the midst of the largest housing bubble on record. Policymakers are caught between a rock and a hard place, as implementing needed reforms will likely burst the bubble," Mr David and Mr Soos state in a submission on behalf of real estate and financial services research house LF Economics.
They believe the current bubble is worse than those in the 1880s, 1920s, mid-1970s and late 1980s.
"Australian economic history and recent international events illustrate collapsing housing bubbles can quickly increase the number of unsold properties [stale stock], shattering the pervasive myth of a deleterious dwelling shortage," they wrote.
"Falling housing and rental prices, including sales, would be a doomsday trifecta for investors as they suffer losses in both capital prices and net rental incomes.
"This calamitous outcome is especially likely in Melbourne where rents have not increased in real terms since 2010. Melbourne is primed to become the epicentre of a legendary housing market crash due to the combination of a staggering boom in real housing prices [178 per cent]. Perth is also in a serious predicament."
