Thread: The Bubble has Burst

Well I know we would love to build but even on good money would be laughed out of the bank. Just gotten to hard to even think of buying or building. An average house in the area we are living at present would be about $400,000, anything decent $500,000 plus. $165,000 minimum for a block of land (700sqm). Its all ok for rich investors but us averages have been shafted again. If only we had bought 3 years ago.
We are going to see a lot of $80k-$100k income families on government housing lists shortly.
As it is we are paying $400pw for rent now. I would hate to see how $40k pa families are surviving.

Originally Posted by cartm58

Well don't keep the real estate price to yourself

Where in Perth
No bedrooms's, No bathrooms, No car spaces
What were they expecting
What did they get for it
Who was the reale state agent

Boom Bubble hasn't burst or stopped

Major Resources projects going full steam ahead all over the place in WA

3x1 with single carport (can fit 2 cars nose-tail). St James.

Advertised $560k
Don't know the final price and estate agent off the top of my head. Can tell you on monday if you are that interested.

Originally Posted by Ken

Yep Nige is right

Over the last two months things have slowed considerably
Ive gone from six jobs a week to two or three if your lucky
Nearly had a punch on with a bloke this week for scabbing
My contractor has employed 3 teams from Malaysia and Singapore

In my mind its the biggest load of Crap they say we have flushers sitting at home with nothing to do so send the bloody imports back home and give us back our work
Never since I started Fixing has there been such a lull in the industry

i'm packing now

Originally Posted by taff

i'm packing now

HaHa thats hillairyass

You house putter togetherers need to learn how to drive machines and go mining
Andrew

Originally Posted by weeds

does that mean the portals are crossed of the xmas list

Work has slowed down Kelvin..Not Stopped and I stopped livin pay to Pay 10yrs ago ..Just means more leisure time

Originally Posted by CraigE

An average house in the area we are living at present would be about $400,000, anything decent $500,000 plus. $165,000 minimum for a block of land (700sqm). Its all ok for rich investors but us averages have been shafted again. If only we had bought 3 years ago.

You should try it up here - I'd give my right arm for a 700m2 block for anything under $600k!!!

Just bought (Well, offer accepted, anyway) out of the suburb we wanted due to lack of availability. Where we're renting (at $550pw which would likely have gone to $650 at renewal, for a crappy 4x2) knock-downs on anything over 700m2 are going for easily $1m+, land went at the last auction for close to $800k for 500m2 blocks, and we're by no means in what I'd say was a top suburb.

Land where we wanted to buy has been held back and not released for over 2 years, and though we think there will be a small release in November, likely price will be $900k-$1m for <600m2! Then you have a 2 year wait to build, while paying the mortgage on the land and the rent. I'm beginning to think this is now unaffordable to all but the select few who would now need to be in the multi-millionaire bracket.....so we gave up waiting/looking, and bought elsewhere.

Oh, and you still can't get tradesmen for love nor money, so they're all busy doing something....

Originally Posted by taff

i'm packing now

Yeah, but if we all go home, it'll halve the number of LR owners over here.