Russia Opens New Port Off Dagestani Australian housing crash in plain 1 day ago   02:24

Share
Vesti News
Subscribe to Vesti News https://ufl.ae/profile/KSq8CqT6wGisje_Dg1y49yum
The new regiment of the Russian Caspian Flotilla that was created in Dagestan is ready to embark on its tasks. The first ships have already taken their spots at a new pier. All of the combat units and the flotilla headquarters will soon be redeployed to the Dagestani coast. Moving to this non-freezing body of water will allow the forces to successfully deploy in the winter. Also, Su-30 jets are on combat alert here for the first time in the region's history. The main task is to strengthen security in the Caspian region, and not only that.
MailFootballSoccer

Comments 42 Comments

TadeSLO
Slava slovenska arijska Perunova Rossya
KnightInShiningASMR
Merry Christmas,Russian Navy!!
Eouz Cuemarz
Any new ports for Kalibr armed corvettes to Venezuela, Cuba and Nicaragua?
David Reynoso
Putin stay out of Ukraine. ..stay home. Nato & USA... Ready..
Truth Teller
Russia is a poor, backwards nation, third world in 96% of its territory, 2nd world in a few cities. That's a pure fact. Its a total economic failure, minus 4 % growth last 3 years!! Only 1% growth this year, no hope as so many smaller nations passing them by in GNP!! Russia should not be on the world stage anymore as it has no power anymore. No influence as all nations sanction and hate Russia for its aggression in Crimea and South Ossetia. Huge protests now as the DUMA is raising the pension age stealing $ from its older workers!! How pathetic is that!! Russia ran out of money last year in its wealth fund! Their broke!! Now they are stealing from their last pension fund left and soon that will be exhausted leaving no pensions for any Russian. They would rather build bombs and missiles to kill innocent Ukrainians and Syrians. How sad they have become. High inflation now in Russia 12% a year!!! Its over, no hope so people are doing drugs and drinking vodka the highest rate in the world now to kill the pain of failure.
A R
A nail in the American and Israeli butt
Adrian Carter
Knuckle up time
B 2
The USSR collapsed and it took Russia, with Putins guidance, 20 years to rejuvenate and become strong. The Pussy grabbers have problems 10 times greater. They understand but still keep squeezing.
josip oulovski
LOVE ! U . S. A.💤💌 LOVE !* ISRAEL *💤💌 STAY UNITED & STRONG 💌💤
bboucharde
NEOCON War Pigs in the American Empire will use this scary news to argue for an even higher defense budget!
Will The Person
EEU vs EU
WINNER Loser
John Doe
This Russian Aggression of Russia developing its own port within its own borders must stop. Need more sanctions.
Arlo Marlo
Putin is getting ready to start WWIII and the World stays in denial. Dumb, stupid, gullible Western Governments just don't want to understand that Stalin is Putin the fascists mentor. And that 85% of Russian people can barely feed, clothe, house their families and keep warm over the winter while Putin and his Oligarch dictators live literally like kings. The people aren't stupid. They know he is spending trillions of rubles on causing trouble and unrest and preparing to bring down the Temple of Humanity with nuclear war. I am amazed at how many stupid, gullible Americans there are that support this Fascist. The most dangerous dictator on earth. Do they really think he will not fry them to a crisp as well.
Nettle Boyss Sunvanbeen
2 U.S. Marines rescued, 5 missing after mid-air crash off Japan
Chris A
God Bless Russia !
Bapeti Uys-Kosweti
💪🏼🇷🇺👏
jose andres
Stay safe and strong Russia.
KnightInShiningASMR
Ramp it up Russia!!
Eyob MEKONEN
I like Russian
Add Reply

Australian housing crash in plain Russia Opens New Port Off Dagestani 1 day ago   15:00

Share
First I took the ABS average Australian income as of May this year:
$62,758
$11,943 of which would be tax
$50,815 net in the hand
Works out to be $977.22 per week in the hand
Then take away average expenditure as provided by ASIC (food, transport, clothing, entertainment etc etc but excluding housing or rental costs).
$565 for a single individual per week.
This leaves $412.22 spare income to be spent on rent or housing expenses.
Now calculate the maximum loan at the current interest rate that can be taken in which that loan can be serviced.
(5% over 25 year mortgage).
For a single individual the maximum someone could borrow and still maintain the repayments is $300,000 (weekly repayment of $407 per week slightly below the disposable income available).
For a duel income family with two kids after tax weekly income is 1954.44
Expenses excluding housing is $1375
Leaving 579.44 disposable.
Maximum a family can take out as a loan is $425,000
Given that the current Australian house price (June this year as provided by the ABS) is $686,000
The shortfall of a single person is $386,000. Or they would require that as a deposit to be able to successfully service the loan. This amount would take 937 weeks or 18 years to save this deposit.
For a dual income family the shortfall is 261,200 which would take 450.78 weeks or 8.6 years to save.
In other words the average Australian family or single person can no longer afford the average Australian house.

So why has there been such a build up in prices?

1) Lending criteria have been very lax. The banks have been lending to people who can’t afford the repayments. If you had 10% deposit then it was a shoe in that the bank would lend the rest. This is because prices always went up and so the banks saw this type of lending as low risk. Banks took on fraudulent applications and did not do due diligence on checking expenses or incomes as shown by the royal commission.
2) The banks also began issuing large amounts of interest on loans (which reduce the weekly repayments). These were in the vicinity of 40% of loans issued over the past 5 years.
3) Speculation off prices always rising has incentivized risky lending practice to ‘flip’ houses once capital gains had increased. This increased demand for houses and credit which far exceeded regular demand from people who simply wanted to occupy a house. This was exacerbated by international buyers many who also borrowed locally with questionable foreign incomes. Usually these buyers were active in the off the plan market.
4) Every time in the past when house prices were going to correct the RBA decreased interest rates dramatically and the government gave money away in order to increase demand for houses (various first home buyer grants and stamp duty waivers).
5) Developers flooded the market as the price of land increased, more money could be made with unit blocks or subdividing blocks. This has produced an oversupply of dwellings and the pipe line of units to hit the market is far exceeding population growth. This is evidenced by the number of cranes in Australia. (there are more cranes in the three cities of Melbourne, Sidney and Brisbane than the entire continent of North America according to the global crane index). The fact that rents have actually been decreasing in Sydney and flat in most other locations also shows that there are a glut of premises to choose from for renters.
6) Ridiculous shows like the block and other media outlets created a frenzy and Australian love affair with real estate and real estate investment. The media also has painted a picture that housing is risk free, prices only ever go up in Australia and a fear of missing out mentality. Every man and his dog is a landlord or has am investment portfolio. In 2016 the Sydney Morning Herald ran an article on the miracle property baron who amassed a portfolio of 13 houses by age 27 whilst working as a pizza delivery man with a wealth in the millions.

Why the market won’t turn around or return to huge growth but continue to slide and turn into a recession or depression?

Credit has been limited back to standard lending criteria through increased scrutiny and regulation as well as the banks themselves becoming increasingly risk averse. Speculative and developer demand has diminished as capital gains are no longer being realised. The interest only loans which comprised of 40% of the loans issued five years ago are now clicking over to principle and interest and will be doing so for the next three years. International buyers have dried up.

RBA can no longer bail out the housing market as they did previously as interest rates are at historic lows of 1.5%.

The savings rate has fallen to zero showing that households who previously have been funding their lifestyle with equity have now used savings.

Related Videos