Australian Politics Forum - Soaring Rents Fuel The Poverty Crisis.

Sir lastnail

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Re: Soaring Rents Fuel The Poverty Crisis.
Reply #60 - Oct 5^th, 2010 at 1:44pm

Amadd wrote on Oct 5^th, 2010 at 1:25pm:

Quote:

Amadd .. negative gearing is A HIGH RISK VENTURE OK???

Believe you me .. stay away from negative gearing .. and the myth that you can make $$$.

Well, anything that you do or don't do with your money has some risk attached. If you bought property for investment 10yrs ago, I'd expect that you've done at least OK out of it.
I'm absolutely sure that I would've done very well from gearing 7 or 8 yrs ago, but by deciding against it, there was also the advantage of tax free mortgage interest saving and far less headaches.
No, I wouldn't consider (Australian residential) property for investment nowadays. I've got no ambitions of being in debt again anytime soon, but being that my needs aren't too extravagant, I have to do something with my spare cash besides leaving it in the bank. Would you like a new car, a diamond ring or something?

Atm, I'm happy to stay away from high risk investments for the most part and just look for options which will give me modest gains on my savings.
..for my needs are simple - namaste Wink

The banks are about to bump up interest rates today. You should get a boost to your savings account which probably gives a better yield than a rental property with all of its associated problems Wink

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Amadd

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Re: Soaring Rents Fuel The Poverty Crisis.
Reply #61 - Oct 5^th, 2010 at 2:05pm

Quote:

The banks are about to bump up interest rates today. You should get a boost to your savings account which probably gives a better yield than a rental property with all of its associated problems

It's probably a bit surprising that the RBA didn't raise rates today, but it will be of no surprise if the banks raise their rates regardless.

The return on fixed deposits is pretty good, although interest is taxed of course.
I see term deposits as a bit of an indicator of how the banks expect lending rates to go in the future. Then again they may just really want your money.

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gizmo_2655

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Re: Soaring Rents Fuel The Poverty Crisis.
Reply #62 - Oct 5^th, 2010 at 2:14pm

Sir lastnail wrote on Oct 5^th, 2010 at 1:42pm:

Lisa Jones wrote on Oct 5^th, 2010 at 12:14pm:

Amadd .. negative gearing is A HIGH RISK VENTURE OK???

I've been doing it for 10 yrs now.

Don't believe the stories you hear .. about how people make money etc .. it's all BS!

Oh and the property in question .. will now be lived in .. it won't be ever be sold .. because of the CGT factor.

Over all .. it's been a wasted exercise (even though the property has doubled in value over the past decade because it's in a waterside suburb).

Believe you me .. stay away from negative gearing .. and the myth that you can make $$$.

Regards

Lisa

I have no doubt that your own account is true.

But then if there is so much risk in negative gearing then don't you think that this is another reason why the Government should abolish it and instead give tax concessions to first home owners ?

If the Government does do that.....where are the first home owners going to live?????
It 'might' work, for a while, while all the investor/landlords sell off their investment properties.....but what about AFTER that....

As it stands now, people rent houses/units (which are usually negative geared investment properties) while they save the deposit for their first home.....so as each group get the deposit and buy, the next group move in....

If all those investment properties are bought by owner-occupiers, where do the new couples live while saving the deposit????

The sad fact is, the number of homes built is not keeping pace with demand, and neither is the infrastructure, like public transport and employment....

Who would be willing to buy a house in an area of no jobs and no public transport and have to do a 2 or 3 (or more) hour commute to work????

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Bobbythebat

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bridonta

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Re: Soaring Rents Fuel The Poverty Crisis.
Reply #63 - Oct 5^th, 2010 at 2:37pm

why do you think the govt allowed foreign buyers ?? why do you think the govt allowed hundred thousands migrants a year ?? to get more skilled workers to work at woolies, McDonald, KFC ... those are Australian youth jobs from the past .. that's why they are not very happy now ?? why ?? or just to push up the property prices .. ??

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Sir lastnail

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Re: Soaring Rents Fuel The Poverty Crisis.
Reply #64 - Oct 5^th, 2010 at 2:43pm

gizmo_2655 wrote on Oct 5^th, 2010 at 2:14pm:

Sir lastnail wrote on Oct 5^th, 2010 at 1:42pm:

Lisa Jones wrote on Oct 5^th, 2010 at 12:14pm:

Amadd .. negative gearing is A HIGH RISK VENTURE OK???

I've been doing it for 10 yrs now.

Don't believe the stories you hear .. about how people make money etc .. it's all BS!

Oh and the property in question .. will now be lived in .. it won't be ever be sold .. because of the CGT factor.

Over all .. it's been a wasted exercise (even though the property has doubled in value over the past decade because it's in a waterside suburb).

Believe you me .. stay away from negative gearing .. and the myth that you can make $$$.

Regards

Lisa

I have no doubt that your own account is true.

But then if there is so much risk in negative gearing then don't you think that this is another reason why the Government should abolish it and instead give tax concessions to first home owners ?

If the Government does do that.....where are the first home owners going to live?????
It 'might' work, for a while, while all the investor/landlords sell off their investment properties.....but what about AFTER that....

As it stands now, people rent houses/units (which are usually negative geared investment properties) while they save the deposit for their first home.....so as each group get the deposit and buy, the next group move in....

If all those investment properties are bought by owner-occupiers, where do the new couples live while saving the deposit????

The sad fact is, the number of homes built is not keeping pace with demand, and neither is the infrastructure, like public transport and employment....

Who would be willing to buy a house in an area of no jobs and no public transport and have to do a 2 or 3 (or more) hour commute to work????

Where are all of the rental joints as a consequence of negative gearing ??

Where are they ??

How do speculators buying the same 100 year old properties help out the rental market ?

And speculators don't buy properties just to help out renters. They buy them to exploit renters. It's totally absurd to say otherwise and make out the whole idea of negative gearing is to help out the plight of the poor renter. Anyone who has been booted out of their rental place because the landlord decides to make a quick buck by selling it will tell you this Sad

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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.

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gizmo_2655

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Re: Soaring Rents Fuel The Poverty Crisis.
Reply #65 - Oct 5^th, 2010 at 3:07pm

Sir lastnail wrote on Oct 5^th, 2010 at 2:43pm:

gizmo_2655 wrote on Oct 5^th, 2010 at 2:14pm:

Sir lastnail wrote on Oct 5^th, 2010 at 1:42pm:

Lisa Jones wrote on Oct 5^th, 2010 at 12:14pm:

Amadd .. negative gearing is A HIGH RISK VENTURE OK???

I've been doing it for 10 yrs now.

Don't believe the stories you hear .. about how people make money etc .. it's all BS!

Oh and the property in question .. will now be lived in .. it won't be ever be sold .. because of the CGT factor.

Over all .. it's been a wasted exercise (even though the property has doubled in value over the past decade because it's in a waterside suburb).

Believe you me .. stay away from negative gearing .. and the myth that you can make $$$.

Regards

Lisa

I have no doubt that your own account is true.

But then if there is so much risk in negative gearing then don't you think that this is another reason why the Government should abolish it and instead give tax concessions to first home owners ?

If the Government does do that.....where are the first home owners going to live?????
It 'might' work, for a while, while all the investor/landlords sell off their investment properties.....but what about AFTER that....

As it stands now, people rent houses/units (which are usually negative geared investment properties) while they save the deposit for their first home.....so as each group get the deposit and buy, the next group move in....

If all those investment properties are bought by owner-occupiers, where do the new couples live while saving the deposit????

The sad fact is, the number of homes built is not keeping pace with demand, and neither is the infrastructure, like public transport and employment....

Who would be willing to buy a house in an area of no jobs and no public transport and have to do a 2 or 3 (or more) hour commute to work????

Where are all of the rental joints as a consequence of negative gearing ??

Where are they ??

How do speculators buying the same 100 year old properties help out the rental market ?

And speculators don't buy properties just to help out renters. They buy them to exploit renters. It's totally absurd to say otherwise and make out the whole idea of negative gearing is to help out the plight of the poor renter. Anyone who has been booted out of their rental place because the landlord decides to make a quick buck by selling it will tell you this Sad

Where are the rental joints????

Look in the paper, or the real estate rental lists....

Every rental property I've lived in ,over the last 25 years (bar 1) have been investment properties due to negative gearing....

Speculators DON'T buy houses to rent them out....
Property speculators are people/companies that buy houses cheap in an area and then resell them at a vast profit when the housing market 'booms' in that area.......

They're the people who send phantom bidders to auctions to 'bid up' the price of houses.....

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gizmo_2655

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Re: Soaring Rents Fuel The Poverty Crisis.
Reply #66 - Oct 5^th, 2010 at 3:11pm

Sir lastnail wrote on Oct 5^th, 2010 at 2:43pm:

gizmo_2655 wrote on Oct 5^th, 2010 at 2:14pm:

Sir lastnail wrote on Oct 5^th, 2010 at 1:42pm:

Lisa Jones wrote on Oct 5^th, 2010 at 12:14pm:

Amadd .. negative gearing is A HIGH RISK VENTURE OK???

I've been doing it for 10 yrs now.

Don't believe the stories you hear .. about how people make money etc .. it's all BS!

Oh and the property in question .. will now be lived in .. it won't be ever be sold .. because of the CGT factor.

Over all .. it's been a wasted exercise (even though the property has doubled in value over the past decade because it's in a waterside suburb).

Believe you me .. stay away from negative gearing .. and the myth that you can make $$$.

Regards

Lisa

I have no doubt that your own account is true.

But then if there is so much risk in negative gearing then don't you think that this is another reason why the Government should abolish it and instead give tax concessions to first home owners ?

If the Government does do that.....where are the first home owners going to live?????
It 'might' work, for a while, while all the investor/landlords sell off their investment properties.....but what about AFTER that....

As it stands now, people rent houses/units (which are usually negative geared investment properties) while they save the deposit for their first home.....so as each group get the deposit and buy, the next group move in....

If all those investment properties are bought by owner-occupiers, where do the new couples live while saving the deposit????

The sad fact is, the number of homes built is not keeping pace with demand, and neither is the infrastructure, like public transport and employment....

Who would be willing to buy a house in an area of no jobs and no public transport and have to do a 2 or 3 (or more) hour commute to work????

Where are all of the rental joints as a consequence of negative gearing ??

Where are they ??

How do speculators buying the same 100 year old properties help out the rental market ?

And speculators don't buy properties just to help out renters. They buy them to exploit renters. It's totally absurd to say otherwise and make out the whole idea of negative gearing is to help out the plight of the poor renter. Anyone who has been booted out of their rental place because the landlord decides to make a quick buck by selling it will tell you this Sad

It's NOT the fault of concept of negative gearing nails....
It's the fault of the interest rates and the changes to the rules....

Once the interest rates rise above a certain amount, the rent no longer covers the mortgage....even with negative gearing, so the choice is lose money, or sell.....

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"I just get sick of people who place a label on someone else with their own definition.

It's similar to a strawman fallacy"
Bobbythebat

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Bobby. Gold Member Offline Australian Politics Posts: 95270 Melbourne Gender:	Re: Soaring Rents Fuel The Poverty Crisis. Reply #67 - Oct 5^th, 2010 at 3:11pm The Govt. will have to build high rise ghettos to house people like they did in France.
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gizmo_2655

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Re: Soaring Rents Fuel The Poverty Crisis.
Reply #68 - Oct 5^th, 2010 at 3:33pm

Bobby. wrote on Oct 5^th, 2010 at 3:11pm:

The Govt. will have to build high rise ghettos to house
people like they did in France.

They did it in England too....

But again, how can the Governments afford to do that???
And who gets to live there????
The French and English ones are all for unemployed and pensioners....

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"I just get sick of people who place a label on someone else with their own definition.

It's similar to a strawman fallacy"
Bobbythebat

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Bobby.

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Re: Soaring Rents Fuel The Poverty Crisis.
Reply #69 - Oct 5^th, 2010 at 3:54pm

gizmo_2655 wrote on Oct 5^th, 2010 at 3:33pm:

Bobby. wrote on Oct 5^th, 2010 at 3:11pm:

The Govt. will have to build high rise ghettos to house
people like they did in France.

They did it in England too....

But again, how can the Governments afford to do that???
And who gets to live there????
The French and English ones are all for unemployed and pensioners....

People who can't affors to pay rent can live there.
We could afford to do it by not staging sporting events like
the commonwealth games in Brisbane.
Use our money to house the underprivileged instead.
We are like India.
They bulldosed 1000s of tent towns & squatter camps
to look more classy for their games.

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gizmo_2655

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Re: Soaring Rents Fuel The Poverty Crisis.
Reply #70 - Oct 5^th, 2010 at 4:02pm

Bobby. wrote on Oct 5^th, 2010 at 3:54pm:

gizmo_2655 wrote on Oct 5^th, 2010 at 3:33pm:

Bobby. wrote on Oct 5^th, 2010 at 3:11pm:

The Govt. will have to build high rise ghettos to house
people like they did in France.

They did it in England too....

But again, how can the Governments afford to do that???
And who gets to live there????
The French and English ones are all for unemployed and pensioners....

People who can't affors to pay rent can live there.
We could afford to do it by not staging sporting events like
the commonwealth games in Brisbane.
Use our money to house the underprivileged instead.
We are like India.
They bulldosed 1000s of tent towns & squatter camps
to look more classy for their games.

True, but you still have to look at the experiences of England in particular.....

Almost all of their 'low-income' housing estates have become breeding grounds for drug problems, gang violence, car theft, shoplifting etc....

Do we really want to do that..

Also, where do you get the land???? Should the Gov bulldoze 1000s of privately owned properties to build high density housing commission estates???

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"I just get sick of people who place a label on someone else with their own definition.

It's similar to a strawman fallacy"
Bobbythebat

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Bobby.

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Re: Soaring Rents Fuel The Poverty Crisis.
Reply #71 - Oct 5^th, 2010 at 4:17pm

Gizmo.
Quote:

True, but you still have to look at the experiences of England in particular.....

Almost all of their 'low-income' housing estates have become breeding grounds for drug problems, gang violence, car theft, shoplifting etc....

Do we really want to do that..

Not really but we have no choice with our population increase.

Quote:

Also, where do you get the land???? Should the Gov bulldoze 1000s of privately owned properties to build high density housing commission estates???

There are large areas of land available around Melbourne.
If you drive down the Frankston Freeway there dozens of square
kilometers of farm land on the way before Frankston.
We could house 250,000 people there in high rises - easily.

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gizmo_2655

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Re: Soaring Rents Fuel The Poverty Crisis.
Reply #72 - Oct 5^th, 2010 at 4:22pm

Bobby. wrote on Oct 5^th, 2010 at 4:17pm:

Gizmo.
Quote:

True, but you still have to look at the experiences of England in particular.....

Almost all of their 'low-income' housing estates have become breeding grounds for drug problems, gang violence, car theft, shoplifting etc....

Do we really want to do that..

Not really but we have no choice with our population increase.

Quote:

Also, where do you get the land???? Should the Gov bulldoze 1000s of privately owned properties to build high density housing commission estates???

There are large areas of land available around Melbourne.
If you drive down the Frankston Freeway there dozens of square
kilometers of farm land on the way before Frankston.
We could house 250,000 people there in high rises - easily.

Farmland?? or market gardens???
At least the Sydney Olympic thing was built on old landfill/wasteland....

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"I just get sick of people who place a label on someone else with their own definition.

It's similar to a strawman fallacy"
Bobbythebat

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gizmo_2655

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Re: Soaring Rents Fuel The Poverty Crisis.
Reply #73 - Oct 5^th, 2010 at 4:25pm

Building high density housing is a good idea, as is building on the outskirts of cities......

But you still need the Gov to build transport infrastructure and you need some form of employment, as well as all the other stuff......shops, schools, hospitals etc.....

Do you think any state Gov can afford that right now???

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"I just get sick of people who place a label on someone else with their own definition.

It's similar to a strawman fallacy"
Bobbythebat

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Bobby.

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Re: Soaring Rents Fuel The Poverty Crisis.
Reply #74 - Oct 5^th, 2010 at 4:30pm

gizmo_2655 wrote on Oct 5^th, 2010 at 4:25pm:

Building high density housing is a good idea, as is building on the outskirts of cities......

But you still need the Gov to build transport infrastructure and you need some form of employment, as well as all the other stuff......shops, schools, hospitals etc.....

Do you think any state Gov can afford that right now???

Are you playing devils advocat?
We have to educate & supply hospitals & infrastructure wherever people are.

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