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Which was absolutely clear during covid. Our roots are a prison colony after all
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Which was absolutely clear during covid. Our roots are a prison colony after all
Im not saying we should get rid of landlords or they dont put in hard work to earn returns. They do. But the returns have been so far, above and beyond what they should of been over the last 25 years it has been ridiculous. And those excess returns have not been earned through extra hard work and sacrifice on landlords behalf. They have been obtained through governments not releasing enough land and poor tax policies. All to chase the baby boomer vote once baby boomers came of age to snap up lots of property.
Being a landlord is not a highly skilled job. It doesnt take expertise. it doesnt have high barriers to entry. The returns should be low as a result. They havent been. Those excess returns are not earned by landlords.
There is a high barrier for entry.
No there isnt. A million dollars is one of the lowest barriers of entry there is for any industry.
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A million dollars doesn't even come into it because you can start an investment property portfolio with the equity in your house earned by nothing more than paying your mortgage for 10 years.
Generally speaking, if people are making a song and dance about "mum and dad" investors being involved then there's is almost certainly not a high barrier to entry.
Generally speaking, if people are making a song and dance about "mum and dad" investors being involved then there's is almost certainly not a high barrier to entry.
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the mum and dad do it tough investors of course being punished once again.
Franking credits, negative gearing in the fire line of course. Punish the middle class who are aspirational. Big end of town survive because they hold such vast assets whilst those who try climb the ladder and get second properties, maybe even a third are punished. How dare they do that, they’re all selfish according to some people.
Not to mention capital gains tax, the biggest scam and disgrace going around. Make a good investment in the short term, turn 250K into a Mil in the space of a few months. You only owe the government 30-40% because they deserve to benefit because you were smart. They deserve 3-400K in fact, you don’t deserve a cent.
That’s the lucky country of Australia. That’s the Australian dream, don’t own a home because we make it unaffordable to own a home. Then we make it impossible to own a second home because we hate you being aspirational and building wealth.
Bring on death duties, final nail in the coffin. It’ll come, whether Airbus or even Clare O’everything she touches is fumbled Neill handles it.
Franking credits, negative gearing in the fire line of course. Punish the middle class who are aspirational. Big end of town survive because they hold such vast assets whilst those who try climb the ladder and get second properties, maybe even a third are punished. How dare they do that, they’re all selfish according to some people.
Not to mention capital gains tax, the biggest scam and disgrace going around. Make a good investment in the short term, turn 250K into a Mil in the space of a few months. You only owe the government 30-40% because they deserve to benefit because you were smart. They deserve 3-400K in fact, you don’t deserve a cent.
That’s the lucky country of Australia. That’s the Australian dream, don’t own a home because we make it unaffordable to own a home. Then we make it impossible to own a second home because we hate you being aspirational and building wealth.
Bring on death duties, final nail in the coffin. It’ll come, whether Airbus or even Clare O’everything she touches is fumbled Neill handles it.
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Very ‘pull up the ladder’ maybe take away sweeteners on the third property? Especially those who chose to leave them empty. Why waste building industry resources for something to not be used? It’s not an oil painting
If they watered down the ctg discount I'd definitely pivot away a fair bit from investing and more so towards far shorter term trading.
True. But to be a landlord you also dont need to buy a house outright.
Like any business.
The worst entities are private equity firms.
They buy a business, with a loan , then hammer the business they just bought to pay back their loan. Often destroying the business in the process.
Total outlay : Nothing.
Then they sell it to a sucker.
It is untenable to have property prices rising at three times the rate of wages, or having that bizarre situation where your house makes more money than you. It is untenable to have rental vacancy rates this low. It can't go on.
I don't care whether many or most investors are mums and dads, police, teachers, nurses, battlers or whatever humble-sounding word is used. Desperate times call for desperate measures, and the generous tax arrangements for real estate need to end some time.
I don't care whether many or most investors are mums and dads, police, teachers, nurses, battlers or whatever humble-sounding word is used. Desperate times call for desperate measures, and the generous tax arrangements for real estate need to end some time.
Perth prices stayed flat for like 10 years before the latest big run up..
In saying that it's still ridiculous.. should calm down a bit hopefully but there is still a very limited amount of places for sale that go within a week often with no asking price. An $800k budget gets you very little now. I've actually just almost given up looking for the moment.
At the end of the day it's a supply problem, the amount of dwellings available is being swamped by demand.
The best way to fix it I don't really know.
In saying that it's still ridiculous.. should calm down a bit hopefully but there is still a very limited amount of places for sale that go within a week often with no asking price. An $800k budget gets you very little now. I've actually just almost given up looking for the moment.
At the end of the day it's a supply problem, the amount of dwellings available is being swamped by demand.
The best way to fix it I don't really know.
Desperate times caused by not building more houses and bringing in 100's of 1000's of people
Tax concessions really are the lower end of the problem yet get the most coverage/anger thrown at them. I wonder why?
Stop foreign investment
Slow immigration to actual skilled people (not yoga teachers or dog groomers)
Tax the arse end out of vacant properties
Will have a greater impact on prices in the short term than NG or CGT discounts. Short term is helped, now we start actually building. Government keep promising 1000's of houses a year but where are they? Hold them to account. Remove red tape/needless cost for subdivisions. Let these people sitting on 1000sqm blocks subdivide more cost effectively and we won't be as reliant on greedy developers hoarding land
Open more land. There's ****loads of it, get state infrastructure departments to start roads etc, open blocks, get it in the hands of first home buyers
Worrying about other people's tax really isn't going to solve anything. It just distracts the sheep from looking at the actual problem. Politics 101 I guess
Apparently it's normal interstate but I cannot believe people are buying 40, 50+ year old houses now at extortionate prices without building inspections. Speaks to people's desperation to forgo that
Made an error not buying a 90 year old cottage last December, even though the place looked immaculate and my theory is anything major wrong with it would've happened ages ago and heen dealt with it would still feel nuts paying 850+, a life's savings with no inspection.
Was leaning towards buy something more modern at the time but now I wouldn't mind the complete other way, they actually built shit to really last back then.
Gough
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You see that spike in house prices around the turn of the century? That's his legacy, he was the one that made the negative rules pretty much the most generous in the world and messed up the market in the first place. It really is that simple.
Sounds like somebody lived through the easiest money making period in history and didn't capitalise
If any government since planned and actually got houses built, it wouldn't be such a problem. It's generations of failure on both sides of politics that led to this, and failures continue to happen.
Supply and demand, it really is that simple
Gralin
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i work with guys who own multiple properties around the country who are currently buying up places in Perth because its "the best value" for them
they also say its a supply issue, even though they are pricing locals out of the market so they can then charge them jacked up rent to live there
both of these guys are into double figures for properties owned and they're always looking for the next one
Gough
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Normal laws of supply and demand don't really come into it when a person looking for the first property is bidding against a person with a portfolio of negatively geared properties. Howard's changes have twisted the market so badly that this is the place we've ended up.
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