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  1. #201
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    Quote Originally Posted by BigRedV View Post
    They would reduce the amount of tax they pay to $0 I should've said. Perfectly legal but totally unfair.
    Don't worry that's what you did say

    It's just that to do that then their 'live-off' income would be less than $18K. I'd much rather pay tax and actually have money to buy food, clothes, petrol etc., than have such a bad investment that it wipes my income to such a level that it's less than minimum wage.

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    Default Negative Gearing - Politics talk

    Quote Originally Posted by babyno1onboard View Post
    Don't worry that's what you did say

    It's just that to do that then their 'live-off' income would be less than $18K. I'd much rather pay tax and actually have money to buy food, clothes, petrol etc., than have such a bad investment that it wipes my income to such a level that it's less than minimum wage.
    I don't think they'd be living on the bread line somehow


    Not quite related but a fascinating read nonetheless!
    http://m.smh.com.au/federal-politics...29-1mw2zp.html

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    'I think MOST people could afford a house. Just like we could go on a holiday if I didn't drink coffee out or eat take out during the week. And DH didn't drink a carton a week. These are my examples....'

    yes and if a bank would give a loan, I pay 1120 a month to rent a house currently being sold for 175k
    my rent is almost the total mortage repayments and set to rise

    I dont qualify for a home loan as Im a single parent yet I can pay that in rent?
    Last edited by Nemmi1987; 27-02-2016 at 10:48.

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  5. #204
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    I think talking about Sydney isn't helpful. The house prices are ridiculous and not representative of the rest of the country.

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    Quote Originally Posted by BigRedV View Post
    They would reduce the amount of tax they pay to $0 I should've said. Perfectly legal but totally unfair.
    I know what you mean, I just don't think the number of people who end up paying no tax is that high. Even with depreciation, say they had $5,000 loss on each property and owned 20 properties, then their loss would be $100,000. Someone on $100,000 would hardly be able to afford 20 properties though, which is why I think the number of those people you mentioned would be ridiculously low.

  8. #206
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    Quote Originally Posted by witherwings View Post
    In what alternative reality do you think investors wouldn't buy? If prices go down who do you think will be the first to jump on that bandwagon?

    Also, this is a fact - investors don't buy $1m houses. Unless they are stupid. It makes no sense from an investment point of view. I've seen multimillion dollar houses for rent in my area (about 3 properties - I assume it's desperate people who have moved out of their homes and need to rent) for $1000 a week. You don't need a degree in finance to know that $1000 a week on a $2m property is a bad return on investment. Investors typically buy apartments and rent them out for around 5% return. Anything less than this is a bad investment.

    If houses are too expensive in Sydney it's because there are just not enough available, and you can't just blame investors for that. When people buy a family home it's usually going to stay in their family for decades, which investors sell more frequently and they typically sell cheaper properties.

    The reason prices are so high in Sydney is because everyone wants to live in Sydney. Can you blame them? Blacktown used to be an unattractive place to live, a last resort for middle income earners.. But demographics change, infrastructure improves, areas become more cosmopolitan and prices go up.
    The same will happen in areas which are now deemed "bad" to live in.

    Maybe the government needs to spend more money on improving the infrastructure of communities outside of the Sydney metropolitan area to make housing within a reasonable commuting distance more attractive?
    I think it's a multitude of reasons including low interest rates, negative gearing, etc.

    There are a lot of apartment blocks being built in pockets of Sydney that are not far from cbd and right next to a train station. The state government has earmarked more plus there are so many new housing estates going up quite a distance from the city it isn't funny. My husband works in an industry that puts in conduits and cables before new estates are even built and it is just crazy the amount of work he has. He's been doing 13/14 hour days and 8 hours on Saturdays. Lucky he gets paid hourly.

    Blacktown is only attractive because it was cheap. Not anymore but I wouldn't exactly call Blacktown a desirable place to live. And have you seen the M4 at Blacktown in peak hour? LOL

    The problem as I said earlier is that essential workers can't afford to buy in Sydney. Perhaps they should look at a similar thing to the London weighting for these people.

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    Quote Originally Posted by Sonja View Post
    I think talking about Sydney isn't helpful. The house prices are ridiculous and not representative of the rest of the country.
    No but it's where I live and at the current rate my kids won't be able to afford to live here when they grow up.

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    Quote Originally Posted by Sonja View Post
    I think talking about Sydney isn't helpful. The house prices are ridiculous and not representative of the rest of the country.
    This.

    Sydney is an unrealistic example, it's like using London to represent the UK's housing market.
    To me it's a city that's getting too big and growing a city is a fine art without compromising the residents quality of life.

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    Default Negative Gearing - Politics talk

    I think Sydney needs some fast rail connections to regional areas making commuting more feasible. Sydney prices are beyond ridiculous and changes to negative gearing, etc., may bring down prices a bit but not to a level that makes them affordable. Something more drastic is required.
    Last edited by babyno1onboard; 27-02-2016 at 11:56.

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    Quote Originally Posted by BigRedV View Post
    No but it's where I live and at the current rate my kids won't be able to afford to live here when they grow up.
    Yes I appreciate that but arguing about the impact of removing negative gearing in the Sydney market is like taking $100000 off Rupert Murdoch.

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