Housing Industry

[Jovial Monk]

From a realtor friend of mine:

Banks are witholding phase 2 financing from developers

Home owner/occupier type buyers are getting finance from the banks


This morning on ABC NewsRadio an interview stated that builders of reasonably-priced new houses would be OK, developers wouldn't be nor would builders of ultra-expensive houses. The builders of reasonably-priced houses would need to pul their heads in, reduce staff a tad, reduce prices & margins. Hope it will work out like that. People need a house to sleep in, cook in etc!

[Jovial Monk]

Latest housing stats.

[mantra.]

That's quite interesting. I've heard a few builders whinging about not being able to get money for development, even though they have reasonable credit - but if the banks are assisting the developers building more modestly priced houses - that's an excellent sign.

We've got all these massive McMansions that people just don't want to buy - the owners can't afford the mortgages and they are just an eyesore crammed onto these tiny little blocks.

This sub-prime crisis has been a good lesson for the banks and now they might just stay in the middle of the road and not gamble with everyone's money the way they have in the past.

[Jovial Monk]

Client of mine (not of the brewshop) had sort of semi-retired and I had to go visit him and update his copy of the software I used to sell. Walked through this big, expensive house and all I could think "not a picture on the wall, not a book to be seen how can they live like that?"

[Ethnic]

I could never understand people who build big houses on small blocks. All that unused space in the house when they should have reduced the house size for more room in the backyard which is always needed. Idiots and their brainless desires to go into debt for crap they don't need and for what? To impress other debt-infested idiots. This quote from Plan 9 from Outer Space sums the madness up nicely.....

http://au.youtube.com/watch?v=Bm09RQEsLI4

[Jovial Monk]

Trust a wog girl wanting to grow tomatoes in the back yard eh?

[Ethnic]

Either that or Woolworths tomatoes

[xbz]

Increase Public Housing for those who need it and low income earners.