Thousands of empty homes adding to Sydney's housing crisis

Discussion in 'Property Market Economics' started by Chilliblue, 28th Mar, 2016.

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  1. highlighter

    highlighter Well-Known Member

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    Tenancy is a tough one sometimes. One trend you see in many places e.g. USA, Ireland, Germany etc is landlords seeking and hanging on to good tenants. Many look for long term tenants over short term - many aren't keen at all to consider short leases, so they're often generous with pets, remodelling and the like. One of my tenants overseas has been in for six years, and I'd consider that normal. Family have had tenants for over a decade and let them re-carpet, paint walls in stupid colours, whatever, as long as the place is taken care of. When I rented in USA I was replacing a 14 year tenancy. We were able to negotiate a discount for a longer tenancy.

    There are obviously still horror stories but when you have tenants looking to make a home, they're more emotionally invested in a place, and take better care of it. If you look for people who want to make a home, and give them long term stability, I think you get much better security and care than if you only go for the shorter leases.
     
  2. dabbler

    dabbler Well-Known Member

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    Don't think so, no need to have gas and easy to use electricity.

    Very Draconian either way EXCEPT if you are a non resident, do not ever visit, just hiding money here, but I hope they all start a class lawsuit, because the damn governments created this mess in the first place.

    They have stuffed it for everyone, made things hard for OS investors, made things hard for home buyers, made things hard for investors & now put us all at risk by pulling the blunt levers all at once.
     
  3. Zoolander

    Zoolander Well-Known Member

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    Hi dabbler, what's the biggest errors the govt has made to get us to this stage? I have only a blurry view of all the commentary flying around - would be good to get your view..
     
  4. dabbler

    dabbler Well-Known Member

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    Ok, letting international investors flood in, without having appropriate things in place, such as if they want places to not be left sit vacant, make that a law for non residents buying, but also they should have seen what was happening, I suspect ignorance by some and greed by others. They were not going to be holiday houses for most.

    Before the above though, rates have been dropping for a long time, regulation and lending practices etc should have been put in place *BEFORE* cutting, it was clear to blind freddy what was happening, it was also clearly not getting business to borrow and grow, but on they went, nevermind the obvious or even evidence.

    On the way up with rates now, they are running around reacting to everything that clearly would happen, and then what they will do things, do not wait for the results to filter through, nor will they care about places away from Syd and Mel and some surrounds, and will keep reacting till it goes too far, happens every time, State and Federal. They use blunt measures.

    Any change the states start talking about to say taxes or duties, will only be designed to max income to govt, but you will even see people here talking about how it may all work out better.....nah, never does, they look after themselves and their jobs first, we are just the chumps that have to cough up all the time.

    These things combined have, in my belief, over inflated Syd and Mel in some places, too far and too fast while economy is in dumps and wages going nowhere, I am on same or less than decades ago. So they done first home owners no favours at all.

    If things get messy, rates go up, taxes etc go up, but no extra income, or if it falls in a heap, well they done none of the investors any favors either have they ? Well apart from those that just jettisoned all the places with large gains and got out.

    So who has been done right in all this ?

    Watch now as they try and punch into us all as if we did this alone, pushing to change the taxes etc, I think they are fools, they want to change it when it is looking like it might crash, why not 5 years ago ?

    And now they talk of allowing people to use Super to buy housing, they are *stark* *raving* *mad*, or do not give a toss, one or the other, or both. I can see what this will do, no one can really tell me they do not get advice that says what it will do.
     
  5. Scott No Mates

    Scott No Mates Well-Known Member

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    This is a smoke screen to bolster the coffers of financial planners who must advise on your smsf - they will extend their reach to normal industry and retail fund advice. After all they took a hammering after Storm Financial back in the good old days.
     
  6. dabbler

    dabbler Well-Known Member

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    I am already cynical SNM, been around too long, I call a spade a spade, govt thinks you change the name of something and it becomes something else, like 457s

    Everything they do now, is just diversion or deception on some level, system is very crippled in my eyes.

    The thing I find the funniest, is Turnbull who thinks by saying some of Trumpies words etc, that he becomes Trump, hero of the people, silly bugger, he is ruining his life and reputation, never seen someone work so hard to get to a position where they could ruin themselves.
     
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  7. Cimbom

    Cimbom Well-Known Member

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    I don't think there is any way Turnbull will win the next election (not that I'm a fan of Shorten either). Everything he says is from the 'Populist Book of Let's Pretend We're Doing Something' :rolleyes:
     
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  8. Ted Varrick

    Ted Varrick Well-Known Member

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    Dabber, if there was a Double-Like or Triple-Like button for this post, consider it pressed.
     
  9. Zoolander

    Zoolander Well-Known Member

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    Good insight into all that's wrong- being reactive with blunt tools sounds like a terrible combination.
    Let's hope the blunt tactics stay unused in favour of more surgical, logical solutions (would broad land tax replacing stamp duty count as one?).
     
    Last edited: 23rd Apr, 2017
  10. Kev-wa

    Kev-wa Member

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    Hi All,

    Sorry if this is taken as spam but seeing that pretty much everyone is against this abomination of a Government and no-one wants to protest, I've started a petition to give Australians a voice...

    If you're happy to add your voice / comment it would be appreciated.

    Call for an Australian federal election

    -Kevin
     
  11. Zoolander

    Zoolander Well-Known Member

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    Hey Kevin, great initiative. If i sign this petition, how will it keep property prices high and (ideally) steady? which from an existing investors POV is what we want to see. Govt seem to be doing an ok job of this already.