tag:blogger.com,1999:blog-6955370338439917430.post2090227728787338634..comments2023-10-20T07:31:25.948-07:00Comments on Not Fooled By Property Spruikers Hype: Owners feel the pinch as prices stallNot The Greater Foolhttp://www.blogger.com/profile/07017076350566919683noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-6955370338439917430.post-32229944477974547862011-04-27T10:57:48.096-07:002011-04-27T10:57:48.096-07:00Not sure I agree with you on Canada. Looking at Ta...Not sure I agree with you on Canada. Looking at Table ES-3: Housing Affordability: Major Metropolitan Markets (Over 1,000,000 Population) http://www.demographia.com/dhi.pdf, while Vancouver is on par with Sydney and Melbourne in the 9+ range, on average, Canada is much more affordable. See:<br /><br />Table ES-2: Housing Affordability Ratings by Nation: Major Markets (Over 1,000,000 Population): Australia=7.1, Canada=4.6<br /><br />Table ES-4: Housing Affordability Ratings by Nation: All Markets: Australia=6.1, Canada=3.4<br /><br />In fact, all the Canadian cities over 5.2 are in British Columbia so you could argue they are in for a correction at some point but Canada as a whole seems less likely.bikeframedhttps://www.blogger.com/profile/10098631297228283881noreply@blogger.comtag:blogger.com,1999:blog-6955370338439917430.post-1466154820605106782011-04-26T06:36:40.109-07:002011-04-26T06:36:40.109-07:00@ Steven (Firstly the article is not mine but a ex...@ Steven (Firstly the article is not mine but a extract from our local paper) What the author is saying is had the price from 2007 kept pace with inflation it would be $505K today {Not the price from 2002.}<br /><br />BTW you may wish to also look at this story on my blog: http://nfbpsh.blogspot.com/2011/01/home-ownership-getting-tougher.html<br /><br />@ Simon in 12 months the Perth prices should have imploded. So your timing is good.<br /><br />Exchange rate? any ones guess but house prices should be down 20-30% you don not want to touch property for 2-3 years. Just rent it is half the price of buying & property prices are falling so whats the rush to buy?<br /><br />Think Ireland / USA. It is a toss up weather Canada or Australia will crash next?Not The Greater Foolhttps://www.blogger.com/profile/07017076350566919683noreply@blogger.comtag:blogger.com,1999:blog-6955370338439917430.post-80022507441432386042011-04-26T04:57:41.637-07:002011-04-26T04:57:41.637-07:00We are in the midst of moving to Perth from the UK...We are in the midst of moving to Perth from the UK process should take apprx 12 months from now. Once we are there we will probably rent as the ex-rate is shocking $1.53 compared to previous historical levels. What are the predictions for 18 months down the road for ex-rate and house prices compared to now?simon.hiltonhttps://www.blogger.com/profile/12654765635255547620noreply@blogger.comtag:blogger.com,1999:blog-6955370338439917430.post-70986480270833213102011-04-25T17:57:34.288-07:002011-04-25T17:57:34.288-07:00If house prices had kept pace with inflation and w...If house prices had kept pace with inflation and wages then the price you quoted of $505K is nonsensical. starting with the 2002 as a starting point that you quoted then perhaps the real price now (in line with inflation) should be less than $250K. <br /> Also, lets face it, as the press was warning people during the accellerated build up (2002-7)that punters were taking a risk of long term prices reverting to the mean and that they could well end up in negative equity, then on their heads be it. Or am I being somewhat ironic here?Steve99https://www.blogger.com/profile/11332379484732146551noreply@blogger.com