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  1. #81
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    Quote Originally Posted by twinklify View Post
    I agree. I do not live in Sydney so thankfully I was able to purchase a home that is somewhat reasonably priced.
    We were so lucky to buy our first house when we did in 2007 and then upgraded to this house in 2009. House prices here have gone nuts. There is no way we could afford to buy here now. We bought a 3 bedroom house here in 2009 and did a reno and now have 5 bedrooms.

    This is my suburb.

    ImageUploadedByThe Bub Hub1456131818.409926.jpg

  2. #82
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    That is just insane

  3. #83
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    Quote Originally Posted by delirium View Post
    That is just insane
    Heaps of house sales as well.

    I think shiz will hit the fan for some when interest rates go up.

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    Quote Originally Posted by maternidade View Post
    I've seen it first hand mum and dad investors freaking out. We're in a complex that has good resale. Gfc Hit several freaked out and sold 50k less than what the properties sold for previously . (I'm friends with the agent and know what was going on in the owners minds. )

    I'm hypothesising that people will freak out and just sell at any cost...
    yeah but that's just bad investing. you can't sh.t yourself every time the market moves and sell. same as shares. do I sell on a bad day? Christ no. if be realizing my losses then. if anything it's an opportunity to buy up more.

    property is obviously different as the lead time to get in/out of an investment is much greater plus there are much larger barriers to entry (stamp duty etc) so I can see that people would be much more sensitive and scared of market corrections.

  5. #85
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    Wow. That is insanity.

  6. #86
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    I agree. DH says the bubble is going to burst and prices will come down. I disagree. I don't see them coming down, just increasing at a slower rate.

    Thank god we live in the country. There is no possible way we would ever buy in the city. It must be rather depressing

  7. #87
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    foreign residents (so Chinese investors) lost access to the 50% cgt discount in 2012 anyway so not like overseas investors are getting a reduction in the tax they pay here. just an FYI to anyone go was not aware of that fact.

  8. #88
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    Quote Originally Posted by delirium View Post
    I don't think you can compare welfare with neg gearing though. A single mum getting payments needs to pay rent and buy food to survive. Getting money knocked off your taxable income for a household who own 2+ properties I don't consider a necessity.

    I'm not sure I blame foreign investment. The financial articles I read blame the first home buyers but mainly investors with neg gearing. It's certainly not the *only* reason why the average joe struggles to ever buy. Yes food and general living is rising and not in line with wage increases. But when you are paying $600 a week in rent that is a HUGE portion of low income, even a lower-middle income family. The $20 a week increase in petrol or meat pales in comparison to the explosion in rental prices in the last 5+years.
    In general I don't think you can compare welfare with negative gearing but with respect to child care rebate / benefit I think we can. By taxpayers subsiding child care costs is this not driving up prices and increasing demand?

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    Default Negative Gearing - Politics talk

    Quote Originally Posted by BigRedV View Post
    We were so lucky to buy our first house when we did in 2007 and then upgraded to this house in 2009. House prices here have gone nuts. There is no way we could afford to buy here now. We bought a 3 bedroom house here in 2009 and did a reno and now have 5 bedrooms.

    This is my suburb.

    Attachment 78683
    This is why there is a rental shortage in most parts of sydney as the rent returns are just not keeping up with the capital growth , no normal investor can afford a million dollar mortgage and only get $548 a week in rent - even with negative gearing you need to have the extra $1000 a week net wages to cover the mortgage and expenses after rent
    Last edited by Elijahs Mum; 22-02-2016 at 19:25.

  10. The Following 3 Users Say Thank You to Elijahs Mum For This Useful Post:

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  11. #90
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    Quote Originally Posted by BigRedV View Post
    We were so lucky to buy our first house when we did in 2007 and then upgraded to this house in 2009. House prices here have gone nuts. There is no way we could afford to buy here now. We bought a 3 bedroom house here in 2009 and did a reno and now have 5 bedrooms.

    This is my suburb.

    Attachment 78683
    That's our family home right there.

    Thankfully we had the investment property in rural oz that we used to purchase our house 8 years ago.


 

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