https://www.domain.com.au/news/how-a-video-game-proved-that-increasing-supply-wont-fix-the-housing-affordability-crisis-20180416-h0ymjz/

shit is fucked in burgerland around major metros too

Credit score shit is us only though

is it? What do banks do in other countries to ensure reliable returns?

theres a credit score system in australia

credit score isn't be all end all but gives you a rough picture of how risky lenders perceive you to be

it's certainly a big deal in the uk as well

I live in Melbourne and it's a pretty big deal. They shadily look at your credit score if you wanna rent sometimes.

Is it at least more transparent there?

lenders all have their own criteria, separate to credit score

I had a gym once run a credit check on me

Because shit is pretty much black magic in the US

*the real estate industry*

this is why I do outright

I dont have to worry about loan sharks

My mantra is if I can't afford it outright I shouldn't have it, credit scores are a farce

You can get further without it

Just gotta be money smart

*en mass savings money*

I don't see any reason not to work on your credit score though

literally just get a cc and pay back your balance on time

I dont like credit cards

Problem is if they reject you for whatever reason it shows up on your credit history you applied and got rejected

ill only get one as a insurance policy for trips overseas

At least over here

And that impacts your score

they're no more effort to use than debit cards, so I don't see why not?

Buying a house is an investment to most that they can't wait until retirement to do so. It fixes the price for them while thier property increases in value so they can retire, sell it and live off the savings

dont forget what the US housing bubble did

I bet its going to be like that but worse in australia and hong kong

and hong kouver

Can't really avoid them and part of what caused it is there were way more people than could pay buying homes. Right now its a very cool market technically speaking because banks are still skittish about loaning people money for houses.

The ones that can do pay on time and the problem of rising costs of housing is not as bad if people can pay the inflated prices.

I hope when I eventually own a house in a few years it isn't like sydney

I seen some nice houses for about 600k in the developmental areas and that's p damn cheap

there isnt really any second tier cities in australia tho

and if you're in hong kong you're just have to buy a property in the *new territories*

Aside from Sydney, Melbourne has been ranked the most liveable city in (the world?) for about 3 years now

I dont really like the IEU's top contenders

I prefer the monocle's rankings

I remember once we had homeless people near the city train station which is one of our monuments