Spending Habits Changed Due to Housing Prices/Economy?

Lmychips on 18/02/2019 - 12:35
Last edited 18/02/2019 - 15:08 by 1 other user

Just curious what everyone elses spending habits now that there has been wide spread drops in housing prices and lots of doom and gloom articles. I know you lot are all tightar*es but has it affected your level of spending at all? Are people holding off on large purchases or are we all OzBargaining like its 2016?

Poll Options expired

• 15
  Spending less than before
• 16
  Spending the same but holding off on large purchases
• 17
  Still making large purchases

• 

  mychips on 18/02/2019 - 12:36

  +1

  FYI: Big purchases are all relative, it could be a house, car, expensive TV, holiday, etc.

• 

  bobbified on 18/02/2019 - 13:02

  Nope - I've budgeted up to three times the minimum mortgage payment before I need to adjust my spending habits.

  And I live in my home. So any losses won't really impact unless I decide to sell.

• 

  [Deactivated] on 18/02/2019 - 13:15

  +1

  People do tend to buy less new cars. Source: Manager in the industry.

  • 

    mychips on 18/02/2019 - 13:20

    +1

    I also work in the industry as well and can attest to that. More and more people looking for used cars now.

• 

  dcep on 18/02/2019 - 13:46

  Credit Crunch >
  Wage Stagnant >
  Spending Cut >
  Retail Suffers >
  Unemployment Rise >
  Debt Explode >
  Foreclosure >
  Housing Crash >

  • 

    mychips on 18/02/2019 - 16:33

    We're only starting in the negative feedback loop in my opinion. Retail is slowing dramatically due to credit is tightening and negative sentiments.

• 

  stirlo on 18/02/2019 - 21:30

  Spending less. But only to save more as it will soon be the perfect time to enter the market and buy a better house when those who overextended have to sell and cut their losses. The economic outlook is pretty irrelevant to me as I have savings.

• 

  altomic on 18/02/2019 - 21:47

  +2

  I empty the ashtray in my rolls so that I don't have to buy a new car each time it fills up

• 

  [Deactivated] on 18/02/2019 - 22:19

  +1

  spending habits now that there has been wide spread drops in housing prices and lots of doom and gloom articles.

  I bought a house for less than the seller paid for it 3 years ago. I got lucky but lots of people are panicking and willing to take a 'loss'. There's a few bargains to be had if you do your research.

• 

  mini2 on 19/02/2019 - 14:34

  The whole wealth effect is evaporating quickly. IIRC new cars are down 7-8% YTD compared to last year and retail confidence is down as well so that should explain what others are doing as a whole.