"Where are we headed in 2024?" Mark Bouris & Shannan Whitney 3

[@timn6864]

I follow a lot of overseas economists who outline their own overpriced real estate markets. They all say the same thing: at least we're not as bad as Australia

[@Sainter66]

If an economist cannot tell you the timing of boom bust cycles and their origins, they are really just a victim of post Georgist manipulation and corruption of economics that deliberately ignores land as separate from capital. Primarily to protect the ruling and governing interests. Do your self a favour and read up on Fred Harrison and Mason Gafney for true economics that doesn’t render the masses to subjugation.

[@Jay_Seeney]

Because everyone wants to come here 😎

[@tevita101]

​@@Jay_Seeney far from the truth mate

[@Jay_Seeney]

@tevita101 We imported half a million people here last year and we still restricted demand. Trust me, everyone wants to come here

[@jbru8725]

I would say Australia has an undersupply, excess demand but main risks come from access to credit and unemployment/ability to service loans. I think we will see price declines, the recent rises being buyers trying to front run interest rate cuts. Rate cuts will likely only come for bad reasons.

[@juxtarepublic6106]

Where the whole housing affordability for first/young home buyers has come off the rails through apathy of Governments, Banks, Loan Insurers and most existing property owners is the 20% deposit requirement.... That made sense when an average property was worth $130k in the mid to late 1990's.... Now the massive increased upfront cost of Stamp Duty and the $160k deposit for say a $800k house is what is killing affordability for the young..... Most couples can possibly cover a 30-40% of Net Mortgage.... But trying to save ~$190k while at the beginning of their careers and renting is a just a bridge too far....

[@stuart249]

No one needs a 20% deposit, you only need 5% for a first home buyer and about 10% if you’re not a first home buyer. The 20% rule is way outdated.

[@c.s2001]

It was good to see Mark teasing out and exploring qualified answers that the general viewer could make sense of. Thanks Mark.

[@Ravioligreen180b]

We both earn 6 figures, no debt and we can't afford to buy. Rent is hundreds of dollars a week cheaper. So we are trapped. Well done Australia. Your outdated housing policy are keeping real estates and top 1% rich

[@zed5129]

Yep, I'm going to chuck money in other investments and plan to leave Aus.

[@andreifrolov82]

We are in the same boat. Planning to leave Aus, everything is too expensive and only going up!

[@TheTestride]

Interest rate cut in the last quarter of 2024 + Albo's "help to buy " + still high immigration + pent up demand all mixed in with falling dwelling approvals = Rising house prices pushed from the bottom of the market. How could it be anything else?

[@mr_jdes]

100% agree. Simple supply Vs demand. Bring over 750k ppl into the country from 2023/2024 and they will need to live somewhere 😉

[@LanNguyen-d8u6e]

Definitely and obviously it a Buyers market for overseas people. Yes very true because the AUD $ now is half worth of USD compare to 10 years ago so overall property value in Australia is still cheap to overseas buyers and hasn’t gone up because of currency exchange benefit for overseas buyers but for local it has gone up by double or more. No wonder why property keep going up. Because of demand as it’s cheap for overseas $ to pour in and buy. How do they buy through trust, company and friends group of overseas team up etc.

[@subah007]

Sydney will always grow,look out above she is going up

[@KBHeal]

I don't agree that it is a buyers market any more as one can borrow a whole lot less than 2 - 3 years ago. 🤔🤔

[@angushibbins2891]

Can you explain to me why a standard house from ten years ago plus sells for a median of 1.6 mil in Sydney? Or some 3 mil. We are not talking a large block to subdived. Whats the rental yeild on that property?

[@LauraMoyaLocalMortgageBroker]

👌 thank you for the insight

[@yellowbrickroadtv]

Glad it was helpful!

[@joshys3615]

It's crazy how there is an assumption that rates will go down, when the next rate increase hits, watch how much additional stock will hit the market.

[@StevenF-w9l]

Mark I like you and your show, but the interviewer should talk less than the interviewee

[@jeanleota6543]

It’s his show, you shut it

[@jarekjerrymackiewicz652]

Mark I see that your guest struggles a lot to say what he really knows and thinks...

[@musolinoa]

What is this guy smoking? How the hell do you figure it's a "buyer's market" still?! Houses are so overpriced by at least a factor of 2.

[@pushthemule]

Your prime minister just let in over 500k people into the country and counting. Those migrants can only live in what's available. The chance of seeing lower prices with a crushed and falling construction industry ain't going to happen in this lifetime.

[@Mattrycky]

Factor of 2? The Fark are you smokin?

[@elvantonucci695]

aint seen nothing yet . next 2 years gonna be a boom

[@musolinoa]

@@Mattrycky I said AT LEAST a factor of 2!

[@leonie563]

All eyes on NSW Govt continuing to jump like a frog....They are clearly horrified at the powderkeg they are presiding over. Completely overcooked. Young people of Sydney. Leave if you can. Let overseas have it. They will do their dough, you will preserve yours.

[@zed5129]

It seems everyone is calling current rates high but aren't they basically the same as average over the last 20 years?

[@juxtarepublic6106]

You obviously skipped Maths classes.... 6% on the average $300k house 20 years ago was $18k.... Plus principal!! 6% on an average $800k house in 2024 is $48k... Plus principal!! Last time I looked Wages and Salaries hadn't jumped 175% in the last 20 something years...

[@cvarikos]

Good agents will be able to predict to the week almost whether it needs to be sold or not. They'll push the vendor hard to get it out the door as quick as possible.

[@catlaroja]

GOLD ... "If the people work that shit out now, why aren't they all running out there now buying with their ears pinned back" LOL

[@sapiens7821]

Regional areas outside major cities will see another boom. I feel we are now stuck where we can afford to live. Only the privileged higher social classes can afford to live in cities and by the sea. Until the regional areas catch up and nowhere is affordable. A two tier class system the Have and Have Nots.

[@LovelyForest-lv4wc]

I find this strange. The counter narrative ' there is 30% more stock over 2023...

[@sapiens7821]

What is an affordable income nowadays. Surely $70,000-$100,000 is no longer classes as middle class. You need to earn $150,000 as a single income earner and $280,000 minimum for a couple

[@stuart249]

Depends where you live. A couple earning 150k can save $1000 a week in a regional area.

[@anitacohen8753]

Australians will continue to borrow exorbitant amounts of money to access property!

[@s.p.3575]

Its Albos market. Its banks market. Crazy inflation money is losing 30% every ear. Tax brackets are wrong. People have no chose if you can buy buy anyway all building materials will go up and up. There is too many unnown factors in construction a new homes. But nothing will be cheeper .haaa ha.😂