Australia's Housing Bubble Finally Popped?
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2018 Apr 3, 12:12pm 1,773 views 2 comments
by Patrick ➕follow (55) 💰tip ignore
https://www.themaven.net/mishtalk/economics/australia-s-housing-bubble-finally-popped-Y-aoEGfeyEq-OiqqdkGDtQ/
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1
bob2356
2018 Apr 3, 1:19pm
Patrick says
Any idiot buying in Gladstone deserves to lose their ass. It's the butt end of nowhere 4 hours not great drive from Brisbane. I went through on my way to Cairns and was not impressed There is nothing there but a shipping port for mining, mostly coal, and a dock for people going to the barrier reef. The population is something like 40k.
The market is slowing because Australia finally cracked down on interest only loans and speculative investor loans. The housing market is hardly popped. Prices went up 5% in 2017. It's going down very slowly, like .1-.2 percent a month, so far in 2018.
80% of Gladstone Homes Sell at Loss
Any idiot buying in Gladstone deserves to lose their ass. It's the butt end of nowhere 4 hours not great drive from Brisbane. I went through on my way to Cairns and was not impressed There is nothing there but a shipping port for mining, mostly coal, and a dock for people going to the barrier reef. The population is something like 40k.
The market is slowing because Australia finally cracked down on interest only loans and speculative investor loans. The housing market is hardly popped. Prices went up 5% in 2017. It's going down very slowly, like .1-.2 percent a month, so far in 2018.
2
RWSGFY
2018 Apr 3, 2:34pm
RWSGFY
2018 Apr 3, 2:34pm
What Bobby said. The only redeeming quality of Gladstone is the Australian burger they serve at the airport: that thing is so huge they serve it with a steak knife stuck into it. One of the best burgers I ever head.
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