Ill wind blows from Australia

GeorgeF · #1 04-11-2005, 08:17 PM

Buyers' market as house prices slide

homeowners are being forced to accept less than they paid during the property boom, with many of yesterday's auction sales well below those prices.

http://www.news.com.au/story/0,10117,12802927-421,00.html

ArturiusX · #2 04-12-2005, 08:42 AM

6 Edith St, Leichhardt - Theres the key.

Small sample, but I know this street and it was part of the 'property boom' of people after a short term buck. Simply put, theres too many of these type of places for sale in the area.

The property market is fine in the medium/long term and still good in the short term in the right area.

natedogg · #3 04-12-2005, 09:52 PM

I think we'll see a decent decline here in the US over the next couple years. Too many negative indicators right now. I think you'd have to be crazy to buy property at this point.

natedogg

Bulbarainey · #4 04-17-2005, 12:39 AM

[ QUOTE ]
I think we'll see a decent decline here in the US over the next couple years. Too many negative indicators right now. I think you'd have to be crazy to buy property at this point.

natedogg

[/ QUOTE ]

what do you think about beach-front/near beach-front properties? particularly pacific palisades, venice, long beach... do you think they will burst as well? thanks, Rob

natedogg · #5 04-18-2005, 11:38 PM

[ QUOTE ]
[ QUOTE ]
I think we'll see a decent decline here in the US over the next couple years. Too many negative indicators right now. I think you'd have to be crazy to buy property at this point.

natedogg

[/ QUOTE ]

what do you think about beach-front/near beach-front properties? particularly pacific palisades, venice, long beach... do you think they will burst as well? thanks, Rob

[/ QUOTE ]

The shining stars of the real estate boom have been coastal states. So-cal beach property is always expensive. You have to decide for yourself if you think it has more room to go up.

60% of Calif. mortgages from the past 12 months have been *interest only* ARMs. Personally, I think we're in for the biggest real-estate drop in CA history.

From last Friday's SF Chronicle, it says the the median home price in the Bay Area hit $605K after jumping $36K from Feb = March. 6% in one month. If I'm wrong, and it continues, you'll never have another chance ot buy a house again after this year....

natedogg