Interesting read

Discussion in 'Property Information Resources & Tools' started by Dean Collins, 11th Dec, 2016.

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  1. Dean Collins

    Dean Collins Well-Known Member

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    Interesting read


    - http://www.nytimes.com/2016/12/10/business/dealbook/goldman-sachs-cerberus-lonestar-europe-mortgages.html?partner=rss&emc=rss&_r=0



    I guess I come down on the side of....."fortune favours the brave" and the current tenants could have purchased in 2008 in the downturn......and saying now that things are rosy......they want to buy in at 2008 depressed prices....or continue renting at depressed 2008 prices doesn't help with reality.

    As for Ireland missing out on their taxes.....this is why we need to be in a consumption based tax economy, its the spending point that is taxable not the back end profits when you can incorporate anywhere else in the world and sub out profits (one of the reasons I'm strongly for stamp duty in NSW property purchases even though it hurts personally every time we buy).
     
    Dean Collins, 11th Dec, 2016
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  2. Bayview

    Bayview Well-Known Member

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    I would like to see all Stamp duties reduced to a fair amount.

    $30k etc for a bit of paperwork is a scam, and impacts enormously on the cost of buying a property.

    Consumption taxes are good (GST), but it doesn't help if the public are not spenders - older folks tend to spend far less, so they are not contributing a big percentage; even though they may have a lot more nett wealth that the 20-30 year olds who are in their spending prime.
     
    Last edited by a moderator: 11th Dec, 2016
    Bayview, 11th Dec, 2016
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  3. Dean Collins

    Dean Collins Well-Known Member

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    Yep but stamp duty pays for things that would otherwise be paid for by taxes....so I'm happy to pay them and stay where they are :)
     
    Dean Collins, 11th Dec, 2016
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  4. Bayview

    Bayview Well-Known Member

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    True.

    It's a tough one; here in Aus we constantly hear how unaffordable housing is, yet a large chunk of a house purchase is the Stamp Duty, and with a new build it is the GST as well.

    A review of these charges might be in order - especially when it applies to the FHB group.

    For a FHB, if the cost of their first home was significantly less, they then have more funds to spend on lifestyle (or loan repayments); but the lifestyle tends to win out with the majority as we know - which attracts a GST - so the money comes back to the Government anyway, and hopefully the lifestyle spending would stimulate more business growth (jobs) etc...growing the pie.
     
    Bayview, 11th Dec, 2016
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