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27-05-2022, 02:52 PM | #1 | ||
Cabover nut
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Bit more pain heading towards mortgagee's with an estimated 18% rise in electricity prices for NSW. Vic 5%. Ouch.
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19-04-2017, 07:27 PM | #2 | |||
FF.Com.Au Hardcore
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19-04-2017, 07:48 PM | #3 | |||
bitch lasagne
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If the local currency was only issued by the treasury, it wouldn't be possible for irresponsible lending to occur and it would severely curtail speculative "investing" simply because the money wouldn't be there for it.
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19-04-2017, 07:55 PM | #4 | |||
FF.Com.Au Hardcore
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I do agree credit seems too readily available but banks are really engaged in a form of leveraging the same as they always have. I'm not sure that the leverage formula they use has changed in recent times are they not limited by RBA in terms of their exposure to available cash? |
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19-04-2017, 08:07 PM | #5 | |||
^^^^^^^^
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How's the Aussie bank profits and share prices been these past few decades It's a RORT. .
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19-04-2017, 08:09 PM | #6 | |||
bitch lasagne
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- the US government has a declared debt of almost $20 trillion, with other unfunded liabilities running into the hundreds of trillions. - personal debt (in the form of credit cards and other credit instruments like car loans and student loans) is close to $3.3 trillion. - mortgages are running at $8.8 trillion. - corporate debt in the US was $51 trillion last year. You also have to remember, the sub-prime collapse in 2008 shook their housing market to the core, and it is yet to recover. However the debt binge since hasn't flowed into the housing market, it went into keeping the carcasses moving to maintain the illusion of an overall economic recovery. Some sources for your perusal: https://www.nerdwallet.com/blog/aver...ebt-household/ http://www.cnbc.com/2016/07/20/crexi...-trillion.html http://www.usdebtclock.org/
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19-04-2017, 08:42 PM | #7 | ||
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I put it down to ; gst - on both the land and the building for new builds
Local council fees and developer contributions that are generally based on for profit private business rates. stamp duty and commission are a deterrent against downsizing for smaller households. lack of tradespeople driving up rates increasing price of materials. Also the quality of new builds - that is the higher quality inclusions people get the more expensive it is. The solution - hecs or help style govt loan for the first 10% for first homebuyers. This is paid back via increased tax depending on income level. Plus funding for apprentices wages - equivalent to the dole to get employers to take them on. |
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12-06-2022, 07:25 PM | #8 | |||
FF.Com.Au Hardcore
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19-04-2017, 06:47 PM | #10 | ||
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I think a large part of the problem would indeed be supply and demand
Assuming there are around 25 million people in Australia and average household size is about 2.5 people, this means 10 million dwellings are needed If nearly all available rentals are taken then landlords can continue to increase rents, which in turn increases what the rental property is worth, i.e. a property that can charge $500 per week is 'worth' around $500k, putting aside speculation Now assume that all the rental properties are full and the government imports 50,000 extra citizens - they are of course going to be competing in the existing market and so prices go up further On the other hand if the government said 'no extra citizens' and instead fast-tracked some land development, or even unit complexes with reasonable land prices then the pool of properties would increase in size, landlords would be at a relative disadvantage, rents would come down, and so would property values. Also, if land were made available a little cheaper then more people could but heir own home and again less competition for rentals. Certainly where I live on the sunshine coast there is plenty of land within 10 kms of the coast being used for low yield farming and agistment that is certainly not worth $300k per quarter acre, even with roads and plumbing installed... |
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19-04-2017, 07:39 PM | #11 | ||
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please explain,trump
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19-04-2017, 09:13 PM | #12 | ||
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One of the reasons there's a CGT discount is because *investing* provides an economic benefit. Shares provide capital for companies to invest in growth which creates jobs/exports/etc. Building *new* houses creates construction demand, which again supports jobs.
What does sitting on land give back to the community? What does flipping established homes give back? We don't give any sort of tax discounts for bank interest, perhaps we should start doing the same with some real estate 'investments' too.... Last edited by b0son; 19-04-2017 at 09:29 PM. |
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20-04-2017, 12:39 PM | #13 | ||
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The middle class welfare in this country has to stop.
We are in so much debt and that hole is rapidly getting deeper. Disabled and pensioners are forced to live below the poverty line which ultimately kills them. It's far worse than a rort.
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20-04-2017, 06:17 PM | #14 | ||
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I has it a guess that unless you bought investment property within the past 2 years you're probably positively geared. With low interest rates and rising rents any tax loss is negligible. Different story if you have bought recently (in Melb or Syd) given that you need to borrow a lot more and rental income has remained pretty flat.
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22-04-2017, 05:07 PM | #15 | ||
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Good posts Mr Trump
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24-04-2017, 08:18 PM | #16 | ||
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Just seen on the news that Westpac has raised interest rates today. (Cant remember how much buy).
They reckon a quarter of Oz mortgage holders are already under financial stress and could'nt afford and extra $100 per month on mortgage payments. I think the Oz bubble is starting to burst. All those years ago on this forum Dave289 was right after all! |
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25-04-2017, 11:00 AM | #17 | ||
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27-04-2017, 06:35 PM | #18 | |||
FF.Com.Au Hardcore
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2005 BA MK2 FPV GT - 6 SPEED MANUAL , SILHOUETTE, SWISSVAX, SUNROOF, BILSTEIN AND LOVELLS, FACTORY GENUINE 19'S, X-FORCE STAINLESS QUAD CATBACK, ADVANCE HEADERS, 200 CPSI CATS, BLUEPOWER CAI, HERROD BREATHER KIT, 4:11 DIFF RATIO, MAL WOOD OPT 3+ CLUTCH, BILLET SHIFTER, MELLINGS 10227, NOW WITH REVERSE CAMERA/SENSORS, ALPINE SPEAKERS & SUB - CUSTOM TUNED TO 275 RWKW NOW WITH A NEW ADDITION - 2017 MUSTANG V8 GT FASTBACK - , 6 SPEED AUTO IN PLATINUM WHITE, |
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25-04-2017, 10:59 AM | #19 | ||
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25-04-2017, 01:39 PM | #20 | ||
IWCMOGTVM Club Supporter
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I remember a few ago they were saying house prices were gonna stay flat.
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25-04-2017, 02:39 PM | #21 | |||
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They reckon the new government FHB incentives are only going to push prices higher. Something drastic needs to be done. |
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25-04-2017, 04:10 PM | #22 | ||
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I don't disagree. Reduces the investment incentive and the money will go elsewhere.
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27-04-2017, 06:22 PM | #23 | ||
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Apparently Perths economy is crashing as and many families are under big financial stress.
Lets wait and see if the same thing happens to Sydney and Melbourne? |
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27-04-2017, 06:40 PM | #24 | |||
Budget Racer
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I'm old so I know if I keep predicting a property crash I will be correct, eventually......
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28-04-2017, 11:14 AM | #25 | ||
as in chopped
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In the end, it comes down to the most basic human condition, Greed.
greed ɡriːd/ noun noun: greed intense and selfish desire for something, especially wealth, power, or food. We are all to blame to an extent, however Banks are the biggest winners when it comes to property
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28-04-2017, 01:31 PM | #26 | |||
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Real estate is losing big money here.
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28-04-2017, 03:51 PM | #27 | ||
Peter Car
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29-04-2017, 03:55 PM | #28 | |||
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So many people out to make a quick buck. I'm glad they are getting burnt. And it's totally relevant to Melbourne and Sydney. Do you guys think you are immune?
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29-04-2017, 10:42 PM | #29 | |||
RS The Faster Fords
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I hear you Mercury Bullet, theres alot of greed and they'll get burnt. I'm more of the 'Kerrigan' type, we worked hard to buy and pay for the house, no interest in an investment, its time to enjoy life, for me to gather up the cars I missed out on and for the mrs to work on her shoe and handbag collection, all of the things we couldn't do while paying a morgage.
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28-04-2017, 01:44 PM | #30 | ||
FF.Com.Au Hardcore
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Sorry to hear such bad news mate.
Apparently the Chinese are still extreemely interested in Sydney and Melbourne so I really dont know whats going to happen. For some reason all other states are pretty flat. Lets wait and see what Turnbulls new budget brings? |
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