A Nation of Whingers.....

Ah! sorry, my mistake CB.

I wonder though how many places - which are not holiday homes - would actually be vacant all the time? I wouldn't have thought it would be many, given the under-supply problem?

 

More argie-bargie on the ABC Radio this morning about housing - the presenter (filling in for John Feine) made a comment about the FHB's being squeezed out.

It's bloody endless; no specific examples of where, how much, what property type, what wage levels..just a mindless ignorant journalist comment.

Play on.

 

Extract:
Mr Flavell said while an exemption for stamp duty exists for homes under $550,000 in New South Wales, most first homebuyers were missing out because the median property price (including units and houses) is $752,000 according to CoreLogic RP Data.

I hope he doesn't expect first home buyers to be paying the median price as this is the middle property in a persons life. My first home wasn't the median for Melbourne and still isn't, if they were buying the median then I should be buying the top (as I have CG behind me)...

 

First home buyers wouldn't be buying in Epping you also need to consider population.

I am not spending much time finding more actual but Sydney Water released this;
http://www.sydneywater.com.au/Education/Tours/DesalVirtualTour/img/timeline/timeline_2036.jpg

1995 - 3,000,000 population
2005 - 4,000,000
2015 - 4,700,000

So population has increased by 63% since 1995 which means more demand, want property to be cheaper if 1/2 of the Sydney population moved away then property prices will drop but then again the demand may still stay.

 

Will they make all asset classes even?
Shares- Add stamp duty for buying/selling
Shares - Remove CGT

 

I can sort of understand why people "think" they can't afford a house. We bought back when they did 100% home loans and we got 24K back from the Govt because it was brand new and our first home (7K Fed, 7K State and 10 more K from State as it was brand new and we got Stamp Duty exemption because it was less than 500K). This more than paid the LMI (14K).

Now at this point let me point out that I was of the belief that renting was the best way, I figured I would rent for the rest of my life, my plan was to rent and then the difference between what a mortgage would be and the rent I was paying could be invested (this never ended up happening because i kept spending it all). We didn't have a deposit because we simply were not planning to buy a house, it was only when I heard an ad on the radio re: Mortgage brokers and 100% home loans and Govt grants that I though "Hmmmmm, so i get $24K in my hand for buying an appreciating asset"

Back when we did that (only 2009, not a "long" time ago) we were seriously stressing because 700 a week on the mortgage was SO MUCH MORE than the rent we were paying of just 350 a week.

I think that is what a lot of people are nervous for, I know I was, it just seemed like I would have no money at all. Little did I know, it's not that hard.

We have now pushed this up to 1,000 a week to try and knock the hell out of it but it somehow doesn't seem that hard anymore. Our household income is not really different to 2009, it's us that has changed.

I am not sure when exactly it changed but it did, we stopped going out constantly, we stopped drinking so much, my smoking went from 1 pack a day to less than a pack a week, cooking at home became the norm, I stopped buying brand new cars and lots of computer upgrades. This was not a conscious thing, we didn't sit down and say "Right, let's get cool with the idea of this", it just happened.

The thing that gets me is I don't want to waste money any more I started wanting to get ahead quicker I didn't want to work so hard and not have my money work just as hard for me as I did to earn it. Hence why I am on this forum now, to learn from you guys and get my first (of many) IP's .

 

This is a post that all new investors should read. With a few adjustments you are now kicking a goal. Well done.

 

What's wrong with that proposition? Those caravans are taking up valuable real estate which could be used for a granny flat or two.

 

Granny flats might be hard to get through Council if they are in the driveway or front yard like the caravans normally are.

 

Best epiphany since Homer Simpson met the Alaskan Medicine Woman!