CoreLogic Home Value Index: National home values up 0.6% in March, breaking a 10-month streak of falls - March 2023

[colescan]

@jesusinthedark Because falls are always linear. They never flatline then fall more...

 

[christianrocker90]

@colescan I'd be happy to join you on your dead cat bounce theory but I think if housing supply was increasing at a normal rate, housing supply costs weren't through the roof and the immigration taps were still turned off you'd be right, but I think we're actually going to bump up a bit until housing supply can 'outbuild' and immigration maybe helps reduce labour costs and the materials costs drops... etc

But in many respects these are unconventional times. New housing starts are declining at the same time as population growth has surged due to net overseas migration.

http://demographia.com/dhi.pdf

Australia: Australian markets have a median multiple of 8.2, up from 6.9 in 2019. This is an increase of 1.3 years of median household income. All five of Australia’s major housing markets have been severely unaffordable since the early 2000s.

We're already one of the most unaffordable places in the world and it looks like we're at least in the mean time heading towards NZ style housing costs :/

 

[colescan]

@christianrocker90 Markets can work in unexpected ways. Housing boomed in 2020-22 when immigration was basically zero. Immigration will put downward pressure on salaries and increase unemployment. Yes, supply is low, but so are borrowing capacities. I don't think housing is about to crash to get affordable btw, I am just questioning the narrative that we are on the precipice of another boom. There is a good change inflation is sticky and the expected pause in hikes will be followed by further increases battering sentiment and house prices.

 

[resjudicata]

@jesusinthedark in real terms this is devaluing still at 8%

 

[jesusinthedark]

@resjudicata Inflation is 8%

 

[resjudicata]

@jesusinthedark which means that the buying power of the australian dollar is going down 8% and anything priced in AUD is 8% lower in value.

 

[eslombe]

@johny111 That guy who used to post everyday pricedrops on property values, is he still doing it or have I been blocked?

 

[thechristianhippie]

@eslombe He's here as dagger4zero

His original account was banned a while back. Also you're probably blocked if you countered any of his arguments at one point, he's not open to criticism.