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Australia's Severely Unaffordable Housing Market (Read 1262 times)
Mattyfisk
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Re: Australia's Severely Unaffordable Housing Market
Reply #15 - Jan 26th, 2020 at 1:33am
 
freediver wrote on Jan 25th, 2020 at 8:28am:
The housing market is by definition affordable. People will only pay for a house what they can afford to pay.


Good point, FD. Most affordable - with a loan.
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freediver
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Re: Australia's Severely Unaffordable Housing Market
Reply #16 - Jan 26th, 2020 at 6:59am
 
They will only lend you what they think you can afford to repay.
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Re: Australia's Severely Unaffordable Housing Market
Reply #17 - Jan 26th, 2020 at 7:18am
 
freediver wrote on Jan 26th, 2020 at 6:59am:
They will only lend you what they think you can afford to repay.

But it's not really just a repayment.
It's a profit gained at selling 'money'.

"I'll sell you this $10 note for $13. That's a good bargain better than the guy around the corner who want's $14 for a $10 note."
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AIMLESS EXTENTION OF KNOWLEDGE HOWEVER, WHICH IS WHAT I THINK YOU REALLY MEAN BY THE TERM 'CURIOSITY', IS MERELY INEFFICIENCY. I AM DESIGNED TO AVOID INEFFICIENCY.
 
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Mattyfisk
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Re: Australia's Severely Unaffordable Housing Market
Reply #18 - Jan 26th, 2020 at 6:39pm
 
freediver wrote on Jan 26th, 2020 at 6:59am:
They will only lend you what they think you can afford to repay.


While they have every right to take the house off you if you don't.

That's not affording, dear, it's lay-by with interest.

You've missed the one thing that makes capitalism work:

Ursury.
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Johnnie
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Re: Australia's Severely Unaffordable Housing Market
Reply #19 - Jan 26th, 2020 at 7:03pm
 
Australia is the lucky country provided you don't need to buy or rent a house, drive a car drink smoke go out go on holidays or any of the other bare necessities needed to get by on with only a regular wage, at least rice is cheap.

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freediver
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Re: Australia's Severely Unaffordable Housing Market
Reply #20 - Jan 27th, 2020 at 10:09am
 
Mattyfisk wrote on Jan 26th, 2020 at 6:39pm:
freediver wrote on Jan 26th, 2020 at 6:59am:
They will only lend you what they think you can afford to repay.


While they have every right to take the house off you if you don't.

That's not affording, dear, it's lay-by with interest.

You've missed the one thing that makes capitalism work:

Ursury.


Capitalism would work without loans. Though it would not actually be capitalism, and it would not work as well as it does with loans. Banning money lending would be a good way to slow down poor people without rich parents trying to work their way up.
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Mattyfisk
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Re: Australia's Severely Unaffordable Housing Market
Reply #21 - Jan 27th, 2020 at 12:12pm
 
freediver wrote on Jan 27th, 2020 at 10:09am:
Mattyfisk wrote on Jan 26th, 2020 at 6:39pm:
freediver wrote on Jan 26th, 2020 at 6:59am:
They will only lend you what they think you can afford to repay.


While they have every right to take the house off you if you don't.

That's not affording, dear, it's lay-by with interest.

You've missed the one thing that makes capitalism work:

Ursury.


Capitalism would work without loans. Though it would not actually be capitalism, and it would not work as well as it does with loans. Banning money lending would be a good way to slow down poor people without rich parents trying to work their way up.


I agree. Capitalism would not be capitalism without capital. Capitalism is a means of making the unaffordable affordable - to people without rich parents, like royals.

And in doing so, it gives investors a cut. The Dutch East India Company could not afford to buy more spices to bring back to Europe, so the Dutch invented capitalism.

Since then, Whitey hasn't looked back.

Just imagine how different things would look today if the Indonesians had exported their own spices. We may not even have capitalism.
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PZ547
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Re: Australia's Severely Unaffordable Housing Market
Reply #22 - Jan 27th, 2020 at 12:16pm
 
Mattyfisk wrote on Jan 27th, 2020 at 12:12pm:
freediver wrote on Jan 27th, 2020 at 10:09am:
Mattyfisk wrote on Jan 26th, 2020 at 6:39pm:
freediver wrote on Jan 26th, 2020 at 6:59am:
They will only lend you what they think you can afford to repay.


While they have every right to take the house off you if you don't.

That's not affording, dear, it's lay-by with interest.

You've missed the one thing that makes capitalism work:

Ursury.


Capitalism would work without loans. Though it would not actually be capitalism, and it would not work as well as it does with loans. Banning money lending would be a good way to slow down poor people without rich parents trying to work their way up.


I agree. Capitalism would not be capitalism without capital. Capitalism is a means of making the unaffordable affordable - to people without rich parents, like royals.

And in doing so, it gives investors a cut. The Dutch East India Company could not afford to buy more spices to bring back to Europe, so the Dutch invented capitalism.

Since then, Whitey hasn't looked back.

Just imagine how different things would look today if the Indonesians had exported their own spices. We may not even have capitalism.



So why didn't they?
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All my comments, posts & opinions are to be regarded as satire & humour
 
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freediver
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Re: Australia's Severely Unaffordable Housing Market
Reply #23 - Jan 27th, 2020 at 12:36pm
 
Mattyfisk wrote on Jan 27th, 2020 at 12:12pm:
Capitalism is a means of making the unaffordable affordable 


No it isn't. But at least this explains your fixation with capitalism and loans.
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Mattyfisk
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Re: Australia's Severely Unaffordable Housing Market
Reply #24 - Jan 27th, 2020 at 1:31pm
 
PZ547 wrote on Jan 27th, 2020 at 12:16pm:
Mattyfisk wrote on Jan 27th, 2020 at 12:12pm:
freediver wrote on Jan 27th, 2020 at 10:09am:
Mattyfisk wrote on Jan 26th, 2020 at 6:39pm:
freediver wrote on Jan 26th, 2020 at 6:59am:
They will only lend you what they think you can afford to repay.


While they have every right to take the house off you if you don't.

That's not affording, dear, it's lay-by with interest.

You've missed the one thing that makes capitalism work:

Ursury.


Capitalism would work without loans. Though it would not actually be capitalism, and it would not work as well as it does with loans. Banning money lending would be a good way to slow down poor people without rich parents trying to work their way up.


I agree. Capitalism would not be capitalism without capital. Capitalism is a means of making the unaffordable affordable - to people without rich parents, like royals.

And in doing so, it gives investors a cut. The Dutch East India Company could not afford to buy more spices to bring back to Europe, so the Dutch invented capitalism.

Since then, Whitey hasn't looked back.

Just imagine how different things would look today if the Indonesians had exported their own spices. We may not even have capitalism.



So why didn't they?


Too lazy, I think.

Oh, and Dutch laws keeping the Dutch East India company's monopoly intact, along with Dutch military assistance.
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Mattyfisk
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Re: Australia's Severely Unaffordable Housing Market
Reply #25 - Jan 27th, 2020 at 1:32pm
 
freediver wrote on Jan 27th, 2020 at 12:36pm:
Mattyfisk wrote on Jan 27th, 2020 at 12:12pm:
Capitalism is a means of making the unaffordable affordable 


No it isn't.


Yes it is.
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Wolseley
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Re: Australia's Severely Unaffordable Housing Market
Reply #26 - Feb 4th, 2020 at 7:56pm
 
freediver wrote on Jan 25th, 2020 at 8:28am:
The housing market is by definition affordable. People will only pay for a house what they can afford to pay.


More or less true, although there are always some people who don't think things through properly and borrow money to buy something they can't afford.

Is the affordability (as opposed to the actual cost) any different now though than it was decades ago?  When we borrowed the money to buy our first house ($63,000 it was) it seemed like a huge amount of money that would take decades to pay off, but we managed to pay it off early after giving up a number of luxuries.  Fast forward about 35 years and both our daughters and their husbands (or one with her husband and the other with her partner, if you want to be pedantic) have borrowed money to buy houses, one in Sydney and one in the ACT, are in the process of paying them off and, property-wise, are in pretty much the same position as we were in back in the early 1980s.
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