And They Said You Couldn’t Lose On Property! Off The Plan Epic Fails Down Under

We are continuing to document a serious property downturn in Australia, Ireland style. Lucky country it ain’t any longer please watch this video so you don’t make the same mistake many many have. This is getting seriously dangerous and it doesn’t look like it’s going to stop any time soon.

20 thoughts on “And They Said You Couldn’t Lose On Property! Off The Plan Epic Fails Down Under”

  1. Why are they concerned if the price has fallen 6% in Melbourne? Who cares? The definition of a bear market is a market that has gone down more than 20% over a period of up to 6 months. It may happen. But until it has, it's mostly Journalists trying to sell stories

  2. This it great news.
    Lets hope we can all afford a home soon.
    250k for a decent house and 150k for a decent unit in Sydney would be great.
    I would legislate that no one can own more than one investment property without higher taxes and scrap negative gearing.

  3. You dont feel sorry at all for all these people who just want a home??? I have been expecting a decline in property prices for a while and every single one of my friends think I'm mad. Most people ask around to get an idea of whats going on and everyone is saying BUY BUY BUY. What do you think an average person is going to do?
    You sound like a complete asshole!

  4. All I want is a little studio apartment in Melbourne. That’s all I want! But I know it’s a massive rip off so I WILL NOT buy!! It’s so frustrating!!

  5. Keep feeding the alcoholic more alcohol, its the only way to keep the party going………..nobody wants to face a hangover…..

  6. I just discovered your channel and watched a couple of your videos. I've been following what's happening in Australia through a couple of other channels. I'm interested because here, in Canada, we won't be far behind you when the bubble pops. Actually, I believe it's already under way in places like Vancouver. Personally, I live way east – Quebec – where the bubble didn't really inflate that much. But, when it blows out west and then in Toronto, I know we'll feel the wind all the way to my town. I have a question for you: here where units are called condos and buying from a plan is called pre-sale, what happens when let's say half of buyers "default" and walk away from their promise? Let's put aside the part where the builder/developer can sue them to get his money back (or not). If litterally only 50% of units in a huge building would end up occupied, would those owners be responsible for all the building fees? (paying for maintenance, concierge, security, etc?) If so, that's enough to go bankrupt after the fact if you've managed to hold onto your unit despite loss of value and/or mortgage rate rise. I'm curious to hear your answer. Thank you.

  7. Government and the banks cause all the problems.The banks on the loans.the government who allow there own working class people to be legaly ripped off by so called property developers.This is why they dont build social housing.Why should anyone be allowed to make others buy homes for them.People on low income can never save a deposit due to the high rents that they have to pay.You will find that those in government have there fingers in the same pot.Greedy people buying,to rent thinking that they will make easy money because the price will go up.In England we had Bradford and Bingly there main business was buy to let.When propertys crashed so did they.The same is happening to austrailia.But in stopping foreigners from buying existing home.The market has slumped.But anyone who wants to come and live or retire can only buy land or new build.Or rent at stupid prices.All they had to say was .You can buy,but you cannot rent it out.and if you do you loose the property.So now .it has put off a lot of people who would have brought there wealth , from retiring in Austrailia.The biggest problem is GDP.The more property built helps this.So very soon the GDP is going to take a big bang in austrailia.It is hard to believe how many homes are for sale In Austrailia.I was looking at sovereign islands for example, a small place.But rich area.Take a look on real estate.You would not believe how many propertys are for sale.Its as though its nearly all the islands.And places selling for 40% of there listed value not long ago.A sign that something bad is about to happen when high end property is taking a hit.If a government takes a big hit on stamp duty.They have to find the taxes somewere else.

  8. Depending on where it is in Gosford, the apartment might be the perfect 'commuter special', but 400K for a one-bedroom (!) box sounds expensive for mine. Cant say I fancy a 90-minute+ commute but people seem to accept that anything that doesn't require changing trains/buses is a good deal. No shortage of people predicting problems in our overheated housing market, esp in apartment oversupply, but the doomsayers have been throwing predictions around for at least 5 years – all while Average Joe watched prices just keep accelerating : no surprise that people panicked, esp when landlords took increased property values as a sign from God that they needed to increase rents sharply. Interesting times ahead.

  9. Many in Melbourne are paying 600-700k for a 1 bedroom rabbit hutch…today you can still find these off the plan for sale…utter insane. Better to park your investment deposit into the only real asset which will be worth a whole lot more in the years ahead…GOLD/SILVER…JUNIOR MINERS.

  10. Especially Victoria region because their inflated debt gorge has gone into reverse…get out now as its only going to spiral down much faster than it rose.

  11. You can’t tell a cat not to sit on a hot stove. You can’t tell people don’t flip properties. The only way is let them do it.

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