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  1. #21
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    Quote Originally Posted by Freyamum View Post
    I think the whole idea of property for investment doesn't sit well with me. Feels like people would be better investing in something productive and not messing around with something so essential to us all.
    Like what? Property is productive and is far more reliable than stocks and shares. We lost close to 30K in the GFC 2009 in the stock market and we've yet to regain our money.

    Whereas our investment property is just pottering on. Slowing gaining value for the long term.

    I hate renting. In a rental now. We are paying 2300/month in rent. It's ridiculous. Our loan repayments are less. I'd rather pay off my loan than someone else's.
    Last edited by Rose&Aurelia&Hannah; 09-05-2016 at 22:26.

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    Quote Originally Posted by Rose&Aurelia&Hannah View Post
    Don't forget Darwin!
    Darwin is already way too expensive

  3. #23
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    Quote Originally Posted by Rose&Aurelia&Hannah View Post
    Why is that bizarre?

    People move for various reasons- work opportunities, social, cultural and housing. We've moved to Canberra in hopes that if Dh leaves the adf he is most likely to find work here. We've got nothing else here to entice us to stay.
    I've moved around, I'm Irish no stranger to moving. Actually I miss being more mobile but (ironically?) the cost of moving now we own makes it prohibitive. I just find it bizarre that people would HAVE to leave their home town because housing is so expensive. I'm sure that happened years ago in London and many chose to move further away than just to an outer suburb. But moving a couple of hours drive seems in a different league to moving from sydney to Tasmania. If the primary reason is housing. And it feels like it's happened so fast? I've been here about 8 years and in that time buying seems to have become more and more impossible for normal families in sydney. We haven't made any better decisions to be owners now it's just been dumb luck really. Nor did we make really bad ones that means we have bigger mortgages than if we'd bought 4 years earlier... Not sure if that makes sense should be in bed...

  4. #24
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    Quote Originally Posted by BigRedV View Post
    I think the point is that people shouldn't have to move. Housing should be affordable. An article just popped up in my newsfeed about cheap homes being history in Sydney.

    The cheapest listed house in Sydney is a 3 bedroom old housing commission house in Willmot (the suburb of Mt Druitt where they filmed Struggle Street) and it is listed for $409,500
    I agree housing should be affordable. Definitely agree. But if for whatever reason you cannot afford it - then why is it bizarre to move in order to buy?

    Lots of adf families we know can't afford to buy in Sydney or Melbourne. So they buy in Canberra, wagga, albury etc when posted there.

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    I wouldn't say it's "bizarre" moving cities/states in order to purchase an affordable property. it's definitely extreme though and I would say quite unfair. nobody should have to uproot their life just to be able to own their own home.

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    Quote Originally Posted by Rose&Aurelia&Hannah View Post
    I agree housing should be affordable. Definitely agree. But if for whatever reason you cannot afford it - then why is it bizarre to move in order to buy?

    Lots of adf families we know can't afford to buy in Sydney or Melbourne. So they buy in Canberra, wagga, albury etc when posted there.
    Because I don't want to move from Sydney and neither do many other people.

    I would rather rent here and buy an investment property in another city.

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  8. #27
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    Quote Originally Posted by Freyamum View Post
    I think the whole idea of property for investment doesn't sit well with me. Feels like people would be better investing in something productive and not messing around with something so essential to us all.
    If there are no investors, there are no houses to rent ...

    I agree with those who say the whole housing market is much more complex than simply 'negative gearing is raising housing prices'. Interest rates, the mining boom, the first home buyers grant, immigration, capital gains tax discounts and the stability of the housing market over the last decades all contribute to our increased housing prices.

    The thing is - now that prices are this high - the government cannot afford to let it just plunge. super funds, construction industry, banking industry, real estate industry and other follow-on industries will all feel it ... and therefore the entire economy will go into further recession.

    The government must be fairly careful about stabalising it and letting it fall very slowly - or stay stable for a number of years to let the rest of the economy catch up.

    But that is a balancing act - and messing with negative gearing, and removing chunks of the buyers from the market is risky.

    There are a lot of differing experts who say directly contradictory things about what the impact would be.

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    Sometimes I think investors are patting themselves on the back as if they're doing the renters a favour

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    I've voiced my opinions in another MG thread I started but I'll try to sum it up.

    I agree with @Katie's mum, there are so many factors in housing prices. Getting rid of NG and reducing the CGD will not suddenly make it more affordable for renters to buy.

    Demand far outweighs supply and this is IMO the biggest factor. Immigration rates are higher but development isn't keeping up.

    Getting rid of NG and CGD will just penalise investors.

    I think to make things fairer is limit the number of properties you can NG to 2 and keep the CGD at 50% for up to 3 properties, then scrap NG for 3 plus properties and decrease the CGD for 3 plus properties.

    This way the govt pays out less come tax time, and mum and dad investors aren't penalised and they can continue to provide for themselves and their families into their retirement and reduce their reliance on the government in retirement.

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    It's the chicken before the egg though isn't it. We know the reason demand for rentals is so high bc in part the insane house prices. So investors have actually created a climate where the average joe can't afford to buy, then to add insult to injury then charges them crazy rent so they can't afford a deposit! Bc if you won't pay it, the 30 other families behind you will.

    There will always be a need for rentals for lots of reasons. I argue though that rather than LL's doing some kind of community service, they are a big the reason there is such a need to begin with

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