We look at the latest real estate data from the US, where sales volumes are falling and home price growth is stalling.
And we read across to the local scene, where despite the hype about auction clearance rates, home price falls are accelerating. Indeed, we expect more ahead.
– Please note that the Trump administration has made MAJOR changes to the US taxcode. Especially regions with high homevalues and large mortgages (California, New York, New Jersey, ……… ) are going to feel the impact. On top of that people who live in state with high state and local taxes (at least the same 4 states as mentioned above) will feel additional financial pain because those state and local taxes are no longer deductable from from the federal taxes.
– A reliable source in the US says that US citizens should brace themselves for a “Sticker shock” when they prepare their taxes in april this year.
– So, keep an eye on the financial news coming from the US. Could be “very interesting” (in a negative sense/direction). Remember the chinese curse: “May you live in interesting times” !!
– I must add that the new US taxcode limits even more the amount of money homeowners with a mortgage can deduct from the federal tax bill.
Not looking so great, oh but the news and government is upbeat. So is Domain and Real Estate.com (run by real estate agents) they’re still quite positive. OMG how could they mislead us, say it isn’t so. The Oz goverment and these big real estate companys surely couldn’t fudge the truth hmmmm not sure???? Look at what a smack up job the Oz government did regulating the banks. I think my 12 year old daughter and her school friends could’ve done a better job. Oh and how our multi billion dollar big 4 banks lied and manipulated their customers for over 20 years. So how could they possibly mislead us over the Real Estate crash, OMG they’re all too honest to do this, lol a lot.
– South Korea:
https://www.koreatimes.co.kr/www/biz/2017/11/488_238957.html
– Add South Korea to the list !!!