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Thread: Home ownership - the new class divide

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    If you declare wages after tax of $80,000 as self employed, two things come to mind,
    1.you must be earning a squillion or
    2.you need a new accountant!
    There is a fine line between "Hobby" and "Madness"

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    Quote Originally Posted by Thala Dan View Post
    Your feigned frustration is becoming a tiresome tactic, enf.

    .....................
    I suspect that you find ANYONE that disagrees with your prescience tiresome. But be that as it may, it seems obvious that your headlong desire for some sort of revolution at any price is just that.

    At least it seems that way to me. Now, you may be right and I will happily defer to your opinion on this if it bears fruit. We WILL see, as removing negative gearing will happen again. Maybe even Albo will be for it. He has several properties so you can yell "cry me a river" at him although I suspect you wont. I just don't know what the result will be, and neither does any particular economic guru in print or their opinions would not vary so much.

    Good luck....
    The fact that there's a highway to hell and a stairway to heaven says a lot about the anticipated traffic flow.

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    The problem is just that those who have money tend to use it to their advantage. Those who don't, can't. How you resolve that situation is always going to be a contentious issue. Personally, I feel that the only incentives that should be available in the housing market should be available to owner occupiers. The only way that a property investor could/should gain any advantage is in commercial and in developing NEW residential properties.
    I'm out of my mind, but feel free to leave a message...

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    Quote Originally Posted by lsemmens View Post
    The problem is just that those who have money tend to use it to their advantage. Those who don't, can't. How you resolve that situation is always going to be a contentious issue. Personally, I feel that the only incentives that should be available in the housing market should be available to owner occupiers. The only way that a property investor could/should gain any advantage is in commercial and in developing NEW residential properties.
    Yes, but the overall price as it now stands has to come down or the struggling will still find it impossible....that's the conundrum.
    The fact that there's a highway to hell and a stairway to heaven says a lot about the anticipated traffic flow.

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    You know, when my father bought a block of dirt to build a house on in the mid 50's, he couldn't afford to buy close to town, where he had grown up. He had to move out to what was then the sticks to be able to afford his patch - it cost him 500 pounds for the block, not sure about the cost of the house he put on it, but it took a bloody long time to pay it off, complete with Mum working part time while we were kids. Seems that some of the current generation aren't prepared to move and make the sacrifices that the older generations did.

    Oh and the place in the sticks was in a little known (then) suburb called Turramurra.

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    I must say, your guys' houses in Oz are particularly pricey, especially if I do the mental conversion of A$ to ZAR just to get a rough estimate. For the same prices you guys pay for a normal, say 2 bedroom house, I can buy a ridiculous, over-the-top semi mansion type thing over here, in a very nice/upmarket, low crime suburb, perhaps even with mountain/sea views.

    Now I know, you can't compare countries and currencies like that, but your guys' houses are generally out of reach of anyone legitimately wanting to move to Oz (I'm not talking about the freeloaders and refugees/immigrants of course).

    Even the UK is not quite on your guys' level, and their places are pretty pricey (some of them at least).

    It might even be easier I reckon to move to the United States of Trumpland.
    Last edited by AdrianR; 22-04-17 at 12:40 AM.
    "A clever person solves a problem. A wise person avoids it." - Albert Einstein

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    This is from the Fairfax press (which has a particular bias):


    Nationals senator Barry O'Sullivan owns 33 properties, Nationals MP David Gillespie owns 18 and Liberal Karen Andrews owns 10. The others in the top 10 are Nola Marino (9), Ian Goodenough (8), Dan Tehan (7), Dutton (7), Turnbull (6), Tony Pasin (6) and Labor's Deb O'Neill (6).

    Most don't like talking about their portfolios.
    "Any sufficiently advanced technology is indistinguishable from magic."

    - Arthur C. Clarke

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    Quote Originally Posted by TVguy View Post
    This is from the Fairfax press (which has a particular bias):


    Nationals senator Barry O'Sullivan owns 33 properties, Nationals MP David Gillespie owns 18 and Liberal Karen Andrews owns 10. The others in the top 10 are Nola Marino (9), Ian Goodenough (8), Dan Tehan (7), Dutton (7), Turnbull (6), Tony Pasin (6) and Labor's Deb O'Neill (6).

    Most don't like talking about their portfolios.
    Of course they don't. No one who has any real wealth these days talks about it much as the entitled demand a share for those that won't or can't help themselves.

    I own my home. I'm one of the lucky ones. But, it's just an overvalued box that the real estate people keep wanting me to get valued again, and again and again and sell....

    I went through too much pain and angst to get in in the first place to sell it without some other reason than VALUE. It's just not worth what they say it is....jeez.
    The fact that there's a highway to hell and a stairway to heaven says a lot about the anticipated traffic flow.

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    The bottom line is, if you sell your property in an over inflated market, you then have to purchase another in the same market. Yes, prices are over inflated and there should be an adjustment to make it more affordable. If that means a devaluation, so be it, it's only going to be a problem if you want to sell, unless of course you have overcapitalised in the first place.
    I'm out of my mind, but feel free to leave a message...

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    I don't think even a devaluation will matter....but I'm in a position to let them try some stuff.

    My home is worth a lot to me....and that's all that matters to me...someone elses valuation is a total irrelevancy.
    The fact that there's a highway to hell and a stairway to heaven says a lot about the anticipated traffic flow.

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    Quote Originally Posted by lsemmens View Post
    ...it's only going to be a problem if you want to sell, unless of course you have overcapitalised in the first place...
    Kudos;well stated!
    "Any sufficiently advanced technology is indistinguishable from magic."

    - Arthur C. Clarke

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    To take this topic in a different direction, i have stuff all super, my cunning plan was to build up capital via the houses i lived in, sell and move to a unit, only problem around here is a unit with a quarter of the land mass and house size is nearly selling for the same price as my house, go figure!
    There is a fine line between "Hobby" and "Madness"

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    Quote Originally Posted by allover View Post
    To take this topic in a different direction, i have stuff all super, my cunning plan was to build up capital via the houses i lived in, sell and move to a unit, only problem around here is a unit with a quarter of the land mass and house size is nearly selling for the same price as my house, go figure!
    Yes...I get where you are coming from allover. My wife and I toyed with the idea of splitting our block (it's residential, but quite large) into two and building another house to sell.

    But, there are issues here. We were not allowed to because there not enough people living in the culdesac believe it or not. Then the local government changed the rates structure and now charge rates by block size, not value. Mine soared, whilst the truly wealthy living in super expensive lavish apartments by the lake pay much less.

    I guess there must be a lot of retired politicians there maybe....
    The fact that there's a highway to hell and a stairway to heaven says a lot about the anticipated traffic flow.

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    Was an interesting discussion on 3AW this morning with a Financial Reporter regarding House Affordability

    Himself, along with the callers were on the same page. And i totally agree!
    Our generation did it hard, we saved, he bought houses with no heating, we ate Tuna Mornay or Mince Meat for the first few years of ownership.
    We didn't have 65" Flatscreens, Double Garages, Landscaped Gardens, we didn't drive the latest European Cars or even a new car for that matter!

    Even when i bought my first house, i couldn't afford to live in it, had to rent it for the first 2 years.

    Where are the young people from the Entitled Generation that are prepared to do any of the above?

    EDIT:

    Oh yeah and none of us got a First Home Owners Grant of $20,000!!!
    Or a reduction in Stamp Duty, and what ever else these sooks get today.
    And we sure didn't get 5% loans
    Last edited by oceanboy; 23-04-17 at 01:09 PM.
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    Quote Originally Posted by oceanboy View Post
    ....................................

    Where are the young people from the Entitled Generation that are prepared to do any of the above?
    Somewhere staring mindlessly at a smartphone.....
    The fact that there's a highway to hell and a stairway to heaven says a lot about the anticipated traffic flow.

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    Quote Originally Posted by oceanboy View Post
    Was an interesting discussion on 3AW this morning with a Financial Reporter regarding House Affordability

    Himself, along with the callers were on the same page. And i totally agree!
    Our generation did it hard, we saved, he bought houses with no heating..
    Still do not have any.

    Quote Originally Posted by oceanboy View Post
    ..we ate Tuna Mornay or Mince Meat for the first few years of ownership...
    Still do.

    Quote Originally Posted by oceanboy View Post
    We didn't have 65" Flatscreens, ($700 at Aldi) Double Garages, (comes with the duplex) Landscaped Gardens, (see before) we didn't drive the latest European Cars (generally not made in Europe) or even a new car for that matter!
    (nor does any of my family).

    Quote Originally Posted by oceanboy View Post
    ..Even when i bought my first house, i couldn't afford to live in it, had to rent it for the first 2 years...
    +1

    Quote Originally Posted by oceanboy View Post
    Where are the young people from the Entitled Generation that are prepared to do any of the above?
    Because even if they did it "so tough", they still cannot afford to buy a living space.

    BTW, the demographics of commercial A.M radio, is an echo chamber of the privileged and perpetually outraged. Just listen to how many adds there are for retirement villages, nursing homes and funeral plans.
    The end is nigh for both broadcast radio and their listeners. At least the funeral directors and nursing homes will have a consistent clientele for some time?


    Quote Originally Posted by oceanboy View Post
    Oh yeah and none of us got a First Home Owners Grant of $20,000!!!
    Or a reduction in Stamp Duty, and what ever else these sooks get today.
    And we sure didn't get 5% loans
    Who do you want to punish for not being born when you were?
    "Any sufficiently advanced technology is indistinguishable from magic."

    - Arthur C. Clarke

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    Quote Originally Posted by AdrianR View Post
    I must say, your guys' houses in Oz are particularly pricey, especially if I do the mental conversion of A$ to ZAR just to get a rough estimate. For the same prices you guys pay for a normal, say 2 bedroom house, I can buy a ridiculous, over-the-top semi mansion type thing over here, in a very nice/upmarket, low crime suburb, perhaps even with mountain/sea views.

    Now I know, you can't compare countries and currencies like that, but your guys' houses are generally out of reach of anyone legitimately wanting to move to Oz (I'm not talking about the freeloaders and refugees/immigrants of course).
    These prices are basically only Melbourne and Sydney Metro.

    Other capitals are far cheaper, and if you are happy to live in the country, housing is much much more affordable.

    This is why government departments need to start moving departments to rural areas to take the heat of these state capitals. Melbourne and Sydney are 2 ridiculously sized behemoths of 4 million plus each people and still growing. Of course out of the 8 million people, half are refugees, immigrants and chinese students or investors.

    Its a mess.

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  • #78
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    Quote Originally Posted by oceanboy View Post
    Oh yeah and none of us got a First Home Owners Grant of $20,000!!!
    I can remember getting a First Home Owners grant when we built our last house in 1992. Cant remember the amount, but I can remember it certainly helped.

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    1992?? First Home Owners Grant?
    If u want to go on an expedition get a Land Rover, if u want to come home from an expedition get a Landcruiser!

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    Quote Originally Posted by TVguy View Post

    Who do you want to punish for not being born when you were?
    What a load of crap.
    Plenty of people that had it better than me, especially my friends that have retired at 57!
    Obviously i was born at the wrong time wasn't i TVguy
    Do i whinge about that?

    ANd what a load of total BS about not being able to afford a living space, the Mrs has spent the whole morning looking at Houses, all $250,000 to $500,000
    River frontage, 2 years old, what more do these sooks want?
    Last edited by oceanboy; 23-04-17 at 02:48 PM.
    If u want to go on an expedition get a Land Rover, if u want to come home from an expedition get a Landcruiser!

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