Up to 1 million households 'on the edge' of mortgage default by September, analyst warns

Discussion in 'Four Corners' started by the_flight_of_the_magpie, Jul 11, 2018.

  1. Mong

    Mong Post Whore

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    A suitable outdoor bbq area is essential AF!!

    How unaustralian to suggest otherwise!!
     
  2. 2_Smoking_Guns

    2_Smoking_Guns First Grade

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    Pfft. If your parents can't buy one for you you just need to get a better job! You should also quit drinking and smoking then you too could be a billionaire like Gina.
     
  3. Pete Cash

    Pete Cash Immortal

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    What city and how many bedrooms and what deposit did the bank expect 20 percent ?
     
  4. Generalzod

    Generalzod Coach

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    It's hot all around that area especially Marrickville.
     
  5. Danish

    Danish Referee

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    A suitable outdoor BBQ area doesn’t need to cost $25-40K though
     
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  6. Pete Cash

    Pete Cash Immortal

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    Yep, realistically the entire area should be bulldozed and buily up because its got the infrastructure to deal with a larger population. Most of the area is well fed by public transport and its close enough to the cbd to walk if a person wanted to.

    Its not so much the inner west that is the worry. One of the security guards who works in the building my wife does bought a place in penrith for around a million. That kinda thing makes me worry a bit about the housing situation
     
  7. Mong

    Mong Post Whore

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    “Suitable” is all relative :joy:
     
  8. Generalzod

    Generalzod Coach

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    Mate I know my in laws live near Henson Park, Talking about bulldozing just on Victoria road Marrickville there has been a development approved in that area for around 1000 units, people are are up in arms, There are poster all over Marrckville that display It's Marrickville not Meritonville...lol
     
  9. Surely

    Surely Moderator Staff Member

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    Outskirts of Brisbane 3 bed 1 bathroom across road from rail line

    It was 10% and you had to pay mortgage insurance
     
  10. Surely

    Surely Moderator Staff Member

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  11. butchmcdick

    butchmcdick Guest

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    My brother in law bought his house in the mid nineties or so in marrickvile for 300k

    Double block, walk to the train

    He subdivided last year, built a kickarse house on both blocks, sold one for 1.8 million which settled his debts

    In the last month the council approached him and said a developer wants approval to build a huge high story development which would need his land to complete. The council is going to approve it he thinks. He’s worried he won’t get enough from the developer to buy a house of similar value in an area he likes.

    Seems developments are coming to marrickville
     
  12. Parra

    Parra Coach

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    They're already there. If it's withing 500m of a train station in Sydney the council has f**k all to do with it. State govt policy allows flats. I would be suspicious of an approach from 'council'. Facilitating this sort of thing is not what council staff do. If it is in a developers sights I wouldn't worry about being underpaid - this seems to be an issue when a house in that area is acquired by the state govt as a compulsory acquisition. Developers have to pay what you want or they miss out.
     
  13. Bandwagon

    Bandwagon Moderator Staff Member

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    This is my first place, if you look at the full sales history there I bought it in '97 and renovated it and sold in 2001. Now I bought it i pretty much original condition, built in the 50's, What you see in the photo's there is as i left it.apart from at some stage some one has enclosed the rear verandah and made it another room, and I mean right down to the curtains that are hanging in the rear sunroom.

    Look at the growth in price on that f**ker - it's insane.
     
  14. Bandwagon

    Bandwagon Moderator Staff Member

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    If it get's approved subject to them acquiring his land, he's hit the jackpot mate. He does not have to sell.
     
  15. butchmcdick

    butchmcdick Guest

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    I think he’s more worried if he doesn’t sell he’s surrounded by a huge monstrosity
     
  16. Bandwagon

    Bandwagon Moderator Staff Member

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    If they need his land to build the thing, it don't get built without his land?
     
  17. Danish

    Danish Referee

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    What section of the development is his land on?

    If it’s right on the edge, they could potentially modify plans to suit.... but that’s doubtful since the cost of doing a complete redesign and having to get that all approved again is going to be a lot more than just paying overs for his property.

    He’ll be fine. The rich get richer, as they say
     
  18. butchmcdick

    butchmcdick Guest

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    Not sure where he is exactly in the development

    I spoke to the missus though and it seems he’s upset as he has thinks that they won’t offer him enough to live in a comparable suburb. He is trying to rally others to negotiate as a group to increase their profit eg get 5 owners together to sell their properties as a block and divide it 5 ways.

    Oh and for the lol’s guess where he thinks he needs a comparable suburb is ?

    Bondi

    The merkin wants enough for a two bedroom two bath walk to the beach with space for two dogs in Bondi

    As Danish said, the rich get richer
     
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  19. Bandwagon

    Bandwagon Moderator Staff Member

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    Lols.

    Since when was Marrikville the "Bondi of the inner west"?
     
  20. butchmcdick

    butchmcdick Guest

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    In his mind it’s a comparable suburb

    To me it’s chalk and cheese
     

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