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  1. #11
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    Default Investment properties

    Quote Originally Posted by OurLittleBlessing View Post
    Yes, I agree theire should be proper protection for tenants.

    But what about the current prices? For both home ownership and renting? Do you think investors have had an impact on the huge amounts of price inflation we have seen over the last couple of decades?

    It just seems that the rich get richer and the poor get poorer. It's no longer enough just to work hard and earn an average or even slightly above average income.

    I guess it's just reality.
    Yes I'm not sure - and that's exactly what I'm talking about.

    I don't know enough about property market analysis but certainly it's a tendency that rich become richer and poorer become poorer.

  2. #12
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    Quote Originally Posted by OurLittleBlessing View Post
    Do you think there should be a limit on the number of properties one person is allowed to own?

    Why/why not?
    For foreigners - yes
    for Australian citizens - no

  3. #13
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    Quote Originally Posted by OurLittleBlessing View Post

    It just seems that the rich get richer and the poor get poorer. It's no longer enough just to work hard and earn an average or even slightly above average income.

    I guess it's just reality.
    yep, because they're smart with money.... I'm not sure there's much we can do about that, we already have taxes.

    Anyone, rich or poor, has the potential to be smart with money, but unfortunately most people aren't.

  4. #14
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    Quote Originally Posted by BlackEyedPea View Post
    yep, because they're smart with money.... I'm not sure there's much we can do about that, we already have taxes.

    Anyone, rich or poor, has the potential to be smart with money, but unfortunately most people aren't.
    Yes, but for Mr & Mrs Average without a big deposit from family, or other one off lump sums, how is it possible for them to break into the market? Heck, even the rental market is hard to break into in the city!

    There doesn't really seem to be the option to be 'smart' with their money.

  5. #15
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    Quote Originally Posted by OurLittleBlessing View Post
    Yes, but for Mr & Mrs Average without a big deposit from family, or other one off lump sums, how is it possible for them to break into the market? Heck, even the rental market is hard to break into in the city!

    There doesn't really seem to be the option to be 'smart' with their money.
    We are mr and mrs average and we broke into the market by buying a cheaper house, requiring a smaller deposit. This meant we were able to the use that house as a stepping stone to a larger, more expensive house that we would have struggled to ever save a deposit for if it were our first house. Our income is below average, not much at all.
    Last edited by MothersMilk; 13-12-2012 at 12:24.

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  7. #16
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    And I get people wanting to set up a secure future for their families, I really really do.

    But don't people see that everyone wants to provide for their children... from people in government housing to people in inner city mansions? It's becoming harder and harder for people to provide even one house for their family, when others have 10?

    When is enough, 'enough'?

    I really hope this is coming across in the spirit it is intended! I am not having a dig at investors, like I said, it's natural to want to provide for your family... just thinking about the system etc.

  8. #17
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    Quote Originally Posted by OurLittleBlessing View Post
    Yes, but for Mr & Mrs Average without a big deposit from family, or other one off lump sums, how is it possible for them to break into the market? Heck, even the rental market is hard to break into in the city!

    There doesn't really seem to be the option to be 'smart' with their money.
    But there is! I recommend this book: the richest man in Babylon.

    I am a single mum who has realised ill never get anywhere unless I save. I survive on very little but I put 10% of my earnings aside, without fail! It's not a lot and I could certainly use that money on other things but I don't touch it, it's mine. And in 5 years I'll have enough for a deposit on place of my own, hopefully... I have a plan, but I have to be patient.

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  10. #18
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    Quote Originally Posted by MothersMilk View Post
    We are mr and mrs average and we broke into the market by buying a cheaper house, requiring a smaller deposit. This meant we were able to the use that house as a stepping stone to a larger, more expensive house that we would have struggled to ever save a deposit for if it was our first house. Our income is below average, not much at all.
    Yeah for the record, we have a house too. But we bought our first house in the country 7 years ago before prices had inflated so much, so made some money when we sold it and were *just* able to afford a very humble city house on a very busy road.

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    Default Investment properties

    Well I can't imagine that would do wonders for the availability of rentals.

    Also, it would make it somewhat more difficult to be a self funded retiree, placing more pressure on government pension payments....

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    Ellewood  (13-12-2012),NancyBlackett  (13-12-2012)

  13. #20
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    Look I agree with you it is getting harder and harder for people to get into the market but I was just making the point that it is possible for the average joe, just requires a bit more planning.
    i don't think restricting the number of properties someone can buy is really the answer. The reality of investment properties is the majority of investors have 2-3 properties only.

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    Ellewood  (13-12-2012)


 

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