Squidfayce
Eats Squid
No, but debt is.Current interest rates are not high from a historical perspective
No, but debt is.Current interest rates are not high from a historical perspective
Nope. If you can afford one, it's worth getting into the market regardless.So one should hold out buying a house atm hey?
Sorry I don't understand why you think someone should buy now?Nope. If you can afford one, it's worth getting into the market regardless.
Trying to predict the bottom is impossible and you will be in competition. At that point you're more likley to overpay or miss out completely. When the market turns, the uptick will be swift.
Prices of houses are generally on a downhill spiral ATM, it's only the start.Sorry I don't understand why you think someone should buy now?
To me it seems likely that interest rates will go up more, it doesn't look like wages are going up, it looks more likely that unemployment will go up, the cost of everything including houses has already risen significantly over the last few years, things seem pretty unstable overseas with likely recessions, and there's even a war going on. Again, to me, it feels more like we have peaked/plateaued and are just ready to slide rather than at a stage where we are "trying to predict the bottom".
Do you think it is possible that housing prices could go up more anytime soon? The only thing I think could shift things slightly was if the interest rates dropped again and even then I can't see much demand or fomo around any more. I will note though that I was horribly wrong predicting both house prices and bike shops would fare poorly in a global pandemic.
Thoughts?
I intend to have myself in a state of readiness, yesterday is always a good time to buy.Sorry I don't understand why you think someone should buy now?
To me it seems likely that interest rates will go up more, it doesn't look like wages are going up, it looks more likely that unemployment will go up, the cost of everything including houses has already risen significantly over the last few years, things seem pretty unstable overseas with likely recessions, and there's even a war going on. Again, to me, it feels more like we have peaked/plateaued and are just ready to slide rather than at a stage where we are "trying to predict the bottom".
Do you think it is possible that housing prices could go up more anytime soon? The only thing I think could shift things slightly was if the interest rates dropped again and even then I can't see much demand or fomo around any more. I will note though that I was horribly wrong predicting both house prices and bike shops would fare poorly in a global pandemic.
Thoughts?
I think for somewhere to live there is never a bad time to buy. Sure rates will go up but if you give yourself space then it will be okay.To me it seems likely that interest rates will go up more, it doesn't look like wages are going up, it looks more likely that unemployment will go up,
I thought I explained fairly clearly why you'd want to buy now.Sorry I don't understand why you think someone should buy now?
To me it seems likely that interest rates will go up more, it doesn't look like wages are going up, it looks more likely that unemployment will go up, the cost of everything including houses has already risen significantly over the last few years, things seem pretty unstable overseas with likely recessions, and there's even a war going on. Again, to me, it feels more like we have peaked/plateaued and are just ready to slide rather than at a stage where we are "trying to predict the bottom".
Do you think it is possible that housing prices could go up more anytime soon? The only thing I think could shift things slightly was if the interest rates dropped again and even then I can't see much demand or fomo around any more. I will note though that I was horribly wrong predicting both house prices and bike shops would fare poorly in a global pandemic.
Thoughts?
For some. Some people also don't want to change jobs or ask for a payrise to get ahead either and complain about their living conditions eing eroded.it doesn't look like wages are going up,
This. 100% EVERY TIME.I think for somewhere to live there is never a bad time to buy. Sure rates will go up but if you give yourself space then it will be okay.
I tried the same (10%) but it looks like I'll be denied. Pretty dark about it given apart from everything else I've saved the organisation many, many, many thousands of dollars in project management this year.I got a 20% raise by asking for it and showing my boss the current market rate for my role while he was struggling to fill another role in our team for the last 5 months. Timing is everything.
yeah tough spot. If you get declined, push harder i reckon. They just need to feel like if they lose you they're, fucked.I tried the same (10%) but it looks like I'll be denied. Pretty dark about it given apart from everything else I've saved the organisation many, many, many thousands of dollars in project management this year.
But as I'm looking to buy a house it'd be pretty dumb imo to ditch a permanent role for something contract just to secure a raise.
That's all good, but unfortunately the dis/honesty quotas from your 2nd and 3rd paragraphs don't mesh.yeah tough spot. If you get declined, push harder i reckon. They just need to feel like if they lose you they're, fucked.
I'm open with my boss from day one that I always take recruitment calls and am 100% always open to move for something more interesting. He's seen me on seek plenty of times too. I don't hide it. I've had one prior boss challenge me on that sort of behavior and i countered with " I just don't see the point of hiding it. its dishonest, and I'm not dishonest". Shut the cunt right up.
I've rocked up in a suit before just so I get asked why I'm dressed up and to tell them that I'm just meeting a recruiter for lunch. Of course, just went and had lunch by myself. Sure it could backfire, but any retaliation for this is in my favour.
All of this is to add an air of rsik to the business that when i ask for a payrise, they have seen all this stuff happen before and have to wonder "if i say no, do i only have this guy for the next two weeks?"
They dont have to. They just have to look like they doThat's all good, but unfortunately the dis/honesty quotas from your 2nd and 3rd paragraphs don't mesh.
Lenders favour people that have been in the same job for 2 years or longer, I wouldn't move until you secure a loan.I tried the same (10%) but it looks like I'll be denied. Pretty dark about it given apart from everything else I've saved the organisation many, many, many thousands of dollars in project management this year.
But as I'm looking to buy a house it'd be pretty dumb imo to ditch a permanent role for something contract just to secure a raise.
Rents aren't going to slow down that's for sure, land rates, council charges, repairs, services, everything has gone up dramatically. A Tradie charged me $400 just to hammer in a $30 piece of wood on a broken shelf and add a bit of paint, thought they were going to do it properly and dismantle the shelf and replace the broken piece of wood, or I would have done it myself for that much.I intend to have myself in a state of readiness, yesterday is always a good time to buy.
I may be wrong, but I suspect that the rental market is very responsive to increased interest rates. So why not buy and pay your own mortgage rather than the landlord's?
6 months - as long as youre not on probation. The only lenders where longer employment factors into the assesment are those that rate for risk (ie custom or non conforming lenders - Pepper, Liberty, Macquarie, latrobe etc.) Banks tend to have a lot more data at their disposal to asses risk, so as long as youre not on probation, they dont care.Lenders favour people that have been in the same job for 2 years or longer, I wouldn't move until you secure a loan.
Yep. The only thing that materially puts downward pressure on rents wholesale is vacancy rates. While everything else adds towards the upward trend. Welcome to the rat raceRents aren't going to slow down that's for sure, land rates, council charges, repairs, services, everything has gone up dramatically.
Brisbane is a nightmare ATM, I've never seen low vacancy rates like this in all my life. There are usually 240~450 houses up for rent in my area at any one time, now down to 15.Yep. The only thing that materially puts downward pressure on rents wholesale is vacancy rates. While everything else adds towards the upward trend. Welcome to the rat race
Brisbane is a weird market in general. Apartments especially.Brisbane is a nightmare ATM, I've never seen low vacancy rates like this in all my life. There are usually 240~450 houses up for rent in my area at any one time, now down to 15.
I don't do apartments, too many problems with strata issues and building issues, but saying that some people do well out of them.Brisbane is a weird market in general. Apartments especially.
You're more of a prospect with brokers if you've held a stable job unless you've doubled your salary. I've heard of a few people getting knocked back after changing jobs, even after 6 months.6 months - as long as youre not on probation. The only lenders where longer employment factors into the assesment are those that rate for risk (ie custom or non conforming lenders - Pepper, Liberty, Macquarie, latrobe etc.) Banks tend to have a lot more data at their disposal to asses risk, so as long as youre not on probation, they dont care.