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#31 | ||
FF.Com.Au Hardcore
Join Date: Jul 2009
Location: melbourne
Posts: 4,648
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I think its fair to say that easy credit is a contributing factor but I'm not convinced its a major factor. There would have to be a material change in lending practices to add fuel and there hasn't been. I believe that the proportion of business to home loans has changed in preference to housing loans so that would account for some extra demand.
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#32 | ||
Regular Member
Join Date: Nov 2015
Posts: 69
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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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#33 | |||
IWCMOGTVM Club Supporter
Join Date: Sep 2005
Location: Northern Suburbs Melbourne
Posts: 17,798
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Quote:
There should also be a limit on the amount of houses that are negatively geared and only Australians citizens should be able to buy propertly below 5 million.
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#34 | ||
FF.Com.Au Hardcore
Join Date: Feb 2005
Posts: 5,040
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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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#35 | ||
FF.Com.Au Hardcore
Join Date: Feb 2008
Location: WA
Posts: 3,705
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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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www.bseries.com.au/mercurybullet 2016 Falcon XR8. Powered by the legend that is - David Winter. XC Cobra #181. 1985 Mack Superliner, CAT 3408, 24 speed Allison. |
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#36 | ||
FF.Com.Au Hardcore
Join Date: Apr 2007
Location: Miranda, NSW
Posts: 6,771
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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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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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#37 | ||
FF.Com.Au Hardcore
Join Date: Sep 2014
Location: Catland
Posts: 3,592
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Good posts Mr Trump
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I6 + AWD Last edited by Sprintey; 22-04-2017 at 05:15 PM. |
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#38 | ||
FF.Com.Au Hardcore
Join Date: Mar 2005
Posts: 5,250
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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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#39 | ||
FF.Com.Au Hardcore
Join Date: Mar 2005
Posts: 5,250
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#40 | ||
FF.Com.Au Hardcore
Join Date: Mar 2005
Posts: 5,250
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#41 | ||
IWCMOGTVM Club Supporter
Join Date: Sep 2005
Location: Northern Suburbs Melbourne
Posts: 17,798
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I remember a few ago they were saying house prices were gonna stay flat.
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#42 | |||
FF.Com.Au Hardcore
Join Date: Mar 2005
Posts: 5,250
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Quote:
They reckon the new government FHB incentives are only going to push prices higher. Something drastic needs to be done. ![]() |
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#43 | ||
IWCMOGTVM Club Supporter
Join Date: Sep 2005
Location: Northern Suburbs Melbourne
Posts: 17,798
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I don't disagree. Reduces the investment incentive and the money will go elsewhere.
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#44 | ||
FF.Com.Au Hardcore
Join Date: Mar 2005
Posts: 5,250
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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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#45 | |||
FF.Com.Au Hardcore
Join Date: Apr 2007
Location: Miranda, NSW
Posts: 6,771
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Quote:
__________________
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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#46 | |||
Budget Racer
Join Date: Dec 2004
Location: Melbourne
Posts: 2,418
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Quote:
I'm old so I know if I keep predicting a property crash I will be correct, eventually...... ![]()
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12.1@112Mph 285rwkw on n2o Cleveland Power |
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#47 | ||
as in chopped
Join Date: Jun 2007
Posts: 1,991
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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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-> Reading this signature was pointless <- |
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#48 | |||
FF.Com.Au Hardcore
Join Date: Feb 2008
Location: WA
Posts: 3,705
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Quote:
Real estate is losing big money here.
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www.bseries.com.au/mercurybullet 2016 Falcon XR8. Powered by the legend that is - David Winter. XC Cobra #181. 1985 Mack Superliner, CAT 3408, 24 speed Allison. |
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#49 | ||
FF.Com.Au Hardcore
Join Date: Mar 2005
Posts: 5,250
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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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#50 | ||
Cabover nut
Join Date: Aug 2015
Location: Onsite Eastcoast
Posts: 10,827
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I seem to remember you bought a house to live in, you bought a car to drive, you bought a caravan to holiday in not something you just flip for a profit.
I wonder what ever happened to doing a decent days work.
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heritagestonemason.com/Fordlouisvillerestoration In order that the labour of centuries past may not be in vain during the centuries to come...... D. Diderot 1752
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#51 | |||
Virtuous Bogan (TM)
![]() Join Date: Jan 2005
Location: TAS
Posts: 27,553
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Quote:
But, living basics like shelter should be left out of it. I dont think housing should be made affordable so everyone can buy a home, fact will always be you need a steady job/income to maintain one. Im also over people saying how the cities are so expensive, pretty simple, dont live there. We just need jobs moved out of the cities and it would solve half the issue.
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#52 | ||
Peter Car
Join Date: Dec 2004
Location: geelong
Posts: 23,145
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#53 | ||
FF.Com.Au Hardcore
Join Date: Jul 2010
Location: NSW
Posts: 4,324
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Even if house prices drop, they will increase again eventually.
Just need to buy during the drop if you can |
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#54 | ||
FF.Com.Au Hardcore
Join Date: Apr 2005
Location: Canberra
Posts: 13,372
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For me a house is for you to live in, not an investment but I tell you what I am regretting not getting in on it at this point since I still have not bought yet
![]() Canberra has hit $700k median house price. I've been looking for sometime now and it is not uncommon to have 30-50 people at some open houses. I can only imagine how bad Sydney and Melbourne is. |
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#55 | |||
Budget Racer
Join Date: Dec 2004
Location: Melbourne
Posts: 2,418
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Quote:
*Coughs* JAPAN *Coughs* ![]()
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#56 | ||
FF.Com.Au Hardcore
Join Date: Aug 2008
Posts: 548
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Here is a simple easy to way for the govt to start the ball rolling. Outlaw interest free loans, this is almost exclusively used by investors.
Unfortunately as others have said any subsidy the government puts into play for more affordable housing only pushes prices up. History is never wrong. For those that wish for a correction I can imagine that a whole new bunch of cashed up investors will be quite happy to take up the slack. Those with money in shares will just swap over to real estate. I know that's what I will do, and don't forget for all this to happen the banks will take a BIG hit so they aren't going to be offering 4% more like 8% +. So unless you have a good deposit in cash ready you may still miss out anyway Then the cycle just starts again. It sucks but that's the capitalist system. |
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#57 | ||
FF.Com.Au Hardcore
Join Date: Aug 2008
Posts: 548
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#58 | |||
FF.Com.Au Hardcore
Join Date: Aug 2008
Posts: 548
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Quote:
Micheal Caton wold be proud |
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#59 | ||
Cabover nut
Join Date: Aug 2015
Location: Onsite Eastcoast
Posts: 10,827
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Makes me glad to live in the country. How's that serenity, dals.
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heritagestonemason.com/Fordlouisvillerestoration In order that the labour of centuries past may not be in vain during the centuries to come...... D. Diderot 1752
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#60 | |||
FF.Com.Au Hardcore
Join Date: Feb 2008
Location: WA
Posts: 3,705
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Quote:
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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