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Anybody else pissed they brought a house at the top of the market & now the house is worth so much less?

Or is it just me

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Answers (13)

Yes, it will eventually bounce back. Also keep in mind that even if sell at a loss, you would be able to pick up a bargain when you buy as everyone is in the same situation. So it would kind of balance out.

The property slump is pretty good for us renters. Right now I am renting a place that was sold for $1.2 million 3 years ago and I am paying $450/week!
Really hoping prices don’t pick up where we are living anytime soon!

You from the eastern states? Everyone in Syd and Melb are freaking out but this (property slump) started happening in Perth yeats ago - no one in the rest of the country could give a shit, now its happening to them its all over the news like its something new! You'll just have to ride it out. You haven't lost anything unless you sell. Our house probably lost about $100k, but it will always be worth way more than we paid because we built it 18 years ago, plus its almost paid off.

Things are only worth what people will pay. Investors are greedy so whatevs for them. Supply and demand. It's life. Get over it.

 All sunshine & rainbows with you isn't it?
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 Actually its raining and windy here.
Idiot.

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 If there were no investors, there would be nowhere to rent. Some people prefer to rent, eg students who will only be there for 3 years then move once study is finished.
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 Idiots rent
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 Idiots? I hope if you have an investment property, no one rents it
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 No I'm homeless
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 Hmmm you know who sounds like an idiot??
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 I love it how people who have no idea say get over it. People have been genuinely screw here and abroad based on these bubbles fed by poor policy and other forms of corporate greed. Get over it? I say complain loudly
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  Get over it. You want to buy and sell in an open market then suck it up.
Be grateful you have a home.

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 Financially it's actually better to rent.
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 ^oh yes. Financially it is SO much Better to rent. Not. Idiot.
Atter 30 years you move out of your rental. What do you get? Your bond back. After 30 years you sell your home and move. What do you get? Umm a few hundred grand at least.
Idiot.

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 👏😊
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 Look into it, if the money you spend on fees, rates, interest, and fixing things into an investment rather than a house you would have a lot more. Buying a house is nice, but it's not a smart investment.
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 Financially it may be better to rent (I haven't looked into it), but there are other reasons to buy eg. stability, being able to renovate etc.
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 ^sweet cheeks, ask a financial advisor. Or anyone with common sense. Not one would say rent, unless you are renting for cheaper than you are charging in rent for someone to ren't in your own house.
You sound like a jealous renter.

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 Jealous renter? What about FIFO or DIDO workers who come from 900kms away for 2/1 and rent Cos they have a family back in another town? That seems more practical
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 Iiiiii want to thank you for giving me the best day of my life 🎶
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 That information came from a financial advisor. I agree it's better to own but from a financial perspective renting is better. Owning is more convenient, and most people wouldn't use the money they saved for a long term investment so buying works for most.
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We were opposite. Paid $360k for ours. Now 6 years later we could sell for $780k. But we're sitting on our little gold mine. Could drop. But it's our home and we don't want to leave. We love it.

 Hahahhahs yeah right, Brenda.
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 This is actually quite realistic in some areas.
Was looking to buy a town house is a "bad" area about 8 years ago for 299k. Now they are selling for 440k.

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 This is my comment. Don't be jealous, it's very much true. Do you not understand how places can go up??
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I think you have every reason to be upset..the problem is more with people trying to flip and markets up selling and pressuring people to get in before it’s too late( yes people benefit but a large chunk don’t and then Bryce get stuck in a very shitty situating of stress etc. I hate this topic because there is so much crap in there. Rental markets are falling in Perth but half of the rental property mail I get would tell you otherwise, it’s actually disgraceful

 Ps you are definitely not alone, people are just too ashamed to talk about it, another disgraceful side of it
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 Real estate agents have alot to answer for. How many industries can you straight out lie to your customers especially when theres soooo much money involved.
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 Exactly! I noticed the dodgiest thing recently. Main agencies are saying on those national renting websites how much something was previously rented for, but actually it’s their asking price. I know someone died of 120pw off asking and if you do a property search it says it was rented by so and so company for full price. That then forces other people who are renting to feel pressured that the rentals are/were higher than they are for similar places.. how is that legal?
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 Not died!! I mean knocked
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 Real estate agents = liers. They are lieing to everyone - the people selling, the people buying, the public - it's utter bull, they are lying to prop up their own industry.
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Sucked in. Stay put longer.
Bunch of whinging sooks

 C#nt
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Do you live in Perth? We are in the market to buy a house in Perth at the moment. House we like is listed for$600k. We offered them $499 and gues what? They agreed! Crazy market!

We bought in cairns in 2008 for $333000. Separated and could only get $285000 for it. It covered the mortgage owned but after fees, solicitors we came out with coins. Now as a single mum I cant get back into the market.

Nope. We bought at the end of the peak, and even though our value is lower than it was, it'll bounce back. We don't live in a bubble market like Sydney or Melbourne, so the initial cost wasn't exorbitant anyway. And being in a major city we will come back. Patience is the key. Hang in there.

 The problem is that those prices were way above the norm, it’s a bubble for a reason..if you can’t get the rental rate to reflectthe buying price then it’s a false price. I hope it doesn’t return as I think it’s all false especially with lower wage growth not reflecting. It was always inflated by greed and insecurity hopping on the bandwagon, rather than actual value
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We are in WA too and it's a great time to buy. We bought our first home a year ago, it will stay low for a while probably but the only way is up.

 Watch out, prices are still going to fall in WA.
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I have friends that bought their first home in Gladstone QLD for $549,000 the mines went busy just 12 months later and they can't even sell for $120,000. It's very sad.

 Bust*
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Our prices are still rising, I live in regional south east QLD.

 Toowoomba? I cant get in the market 🙄
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