Society/Culture Australian Property Prices to Crash?

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Bombermania

Norm Smith Medallist
Dec 18, 2007
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One of the things I am taking from this thread is that there is a lot of 40 year old gen x who are quite happy for the boom to continue as they are finally cashing in on housing like the boomers.
Gotta love people defending the 'capitalist' supply and demand when mortgages didn't need to be paid for 12 months and the government pumped every housing incentive and subsidised almost every business. Big thanks to millennial covering that debt alongside the costs of climate change
This is about supply and demand because property prices will only ease when supply is greater than demand.

More public housing and greater decentralization would help.
 
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Shane Heard

Norm Smith Medallist
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Mar 11, 2018
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Here’s another perspective on property movement this year.

I live in Safety Bay, W.A.

About 50kms south of Perth CBD on the coast.

2 years ago I counted 18 beachside/ocean facing houses for sale at one stage. None of these properties were selling.

Mate of mine bought one for 690k in April last year and it just sold for 1.2 million last month.

Every property I’ve seen for sale in last 6 months has sold within a month or so
and there’s been a lot of them going up for sale.

Meanwhile, a few streets back from the beach you can buy a decent size 4x2 home on a 700 sqr mtr block for around 400k. And they are selling fast after listing.

The suburb next to it, Shoalwater, is even better with more 800k to one million dollar homes in a smaller area and very close to the ocean.

But dotted In between are nice units for 250 - 300k that rent out for $350 a week.

There is a massive squeeze on rental vacancies all over Perth and investors are piling in to snap up properties that haven’t gone up much in value for 6 or 7 years.

There’s a bit of a boom going on for sure.
 

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CatFan79

Norm Smith Medallist
Sep 25, 2004
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supply in inner/middle suburbs is sapped up by said investors.
See, now you're just discriminating against inner city renters...

The theme of this thread is "fu** the future generations, I want my investment now
Just playing the game champ, contact your local member if you have a problem with Government policies / immigration etc.

people are assholes.
Don't hate the player, hate the game.
 

FRUMPY

Brownlow Medallist
Aug 18, 2006
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My income has nothing to do with it, my income doesn't drive up housing prices. I got educated & worked hard. That should be the aim of everyone.

I'm not saying people shouldn't and cant invest in things to maximize their money. I'm saying it should never have been allowed to be a commodity like housing. The government should have allowed better reforms for people to invest in other areas like business, stocks etc etc.

If we keep not thinking about future generations what are our kids going to to in 30 years? just limit themselves to rent?

The theme of this thread is "fu** the future generations, I want my investment now. They can just live hours away from the city. Deal with it"
And again you say we should think of the nest generation, yet you have investment properties....so you preach one thing and do the opposite
 

Deliverance

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Jun 19, 2011
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See, now you're just discriminating against inner city renters...

Don't hate the player, hate the game.
Imagine if supply wasn't being sapped up by investors, inner city renters would be able to afford to buy there. Supply and demand, eco 101.

It's possible to hate both the players and the game. The players actively rallied and voted against housing investment reform, for selfish reasons at the last federal election. He's right, these people are assholes.
 

HirdsTheWord

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Jun 19, 2014
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And again you say we should think of the nest generation, yet you have investment properties....so you preach one thing and do the opposite
wtf are you on about? I didn't say people need to give up their investment properties........

I said we should be getting taxed more on them......

hilarious that I am being called a virtual signaler for saying I am happy to be taxed more more my investment properties....maybe ill be burned at the stake next.
 

HirdsTheWord

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Jun 19, 2014
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See, now you're just discriminating against inner city renters...



Just playing the game champ, contact your local member if you have a problem with Government policies / immigration etc.



Don't hate the player, hate the game.
do you actually even read what people write?

I said its the government who need to act........the "game" as you call it needs to change in order to not ruin the future generations ability to buy a house.

People aren't assholes for doing what the government allows them to do, they are assholes because they only care about themselves. IE as evident in this thread. I'm getting called a virtual signaler because i'm happy to get taxed more? The fear of people is palpable. Meanwhile investor loans are out numbering first home buyer loans, this clearly shows their is an issue with the system.
 

FRUMPY

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Aug 18, 2006
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People aren't assholes for doing what the government allows them to do, they are assholes because they only care about themselves. IE as evident in this thread. I'm getting called a virtual signaler because i'm happy to get taxed more? ahahhahaa. The fear of people is palpable.
Again, bagging yourself out for playing along with the rules. If you are so against it, dont claim the loan interest as a deduction or any deductions for that matter.
 

HirdsTheWord

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Again, bagging yourself out for playing along with the rules. If you are so against it, dont claim the loan interest as a deduction or any deductions for that matter.
Again, I didn't say people should me making ZERO deductions. Though if that's what what is required to stem the increase I am happy to do it. will you join me?

I'm not sure I have the capital interests to make the market change on my own, kinda why I said it needs to be driven by the government so all investors take the hit.
 

FRUMPY

Brownlow Medallist
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Again, I didn't say people should me making ZERO deductions. Though if that's what what is required to stem the increase I am happy to do it. will you join me?

I'm not sure I have the capital interests to make the market change on my own, kinda why I said it needs to be driven by the government so all investors take the hit.
I dont own an investment property - but its interesting you call people selfish for thinking of themselves and yet you claim all deductions to make your properties, presumably, negatively geared - which would appear to be the selfishness you speak of :think:
 

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HirdsTheWord

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I dont own an investment property - but its interesting you call people selfish for thinking of themselves and yet you claim all deductions to make your properties, presumably, negatively geared - which would appear to be the selfishness you speak of :think:
your clearing missing the point.

I have never said once in this thread that people should go now and drop all their investor tax deductions. All I have said is that the government & the RBA should be imposing further tax restrictions on investors like me. It would be a nice world if the government never let the Housing Market turn into a money making scheme, but that ship has sailed obviously.

I have openly said I am happy to lose or decrease the investment tax benefits you have outlined in order to stem the housing price increases. others are clearly not. The mere fact that the ABS are forecasting that Investor Loans will Out Number First Home Buyer loans shows the inequality in the system.

And again you are wrong. People are not Selfish for Investing as the laws and policies allow them, they are selfish for unwillingness to think about what people who are already in the market can do to help others buy in the future, IE we take a hit to make sure we don't create a market that is over heated for others. As you can see the mere suggestion in here of losing investment tax benefits has people riled up.

Considering the term Selfish means lack of consideration for others, it would seem a very good word for most in this thread. Not a single person has provided a better solution than me to help the issue, they just attack and call me a virtue signaler for what? Because i'm willing to lose tax benefits to help others have a chance at affording their first home? fu** me dead.

Oh well, fu** it, ill just join in with everyone else.

First home buyers can either just get help from mum & dad or live hours away from their work & family. What a society we live in.
 
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Taylor

Community Leader
Jul 16, 2009
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It sounds like there's a market for "first homes" that have one and a half bedrooms, one bathroom and combined laundry kitchens in about 30m2. Far cheaper, obviously, not all that nice but it's a step on the ladder.
 

CatFan79

Norm Smith Medallist
Sep 25, 2004
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You mean escaping COVID?
They're not coming back.

It sounds like there's a market for "first homes" that have one and a half bedrooms, one bathroom and combined laundry kitchens in about 30m2. Far cheaper, obviously, not all that nice but it's a step on the ladder.
Sorry.. First home buyers cannot be expected to buy anything but a 3+ bed home within 50kms of the CBD... 'We' need to make that happen.

Yep, 90% of whom moved to the same region in Queensland.
Sure mate.
 

CatFan79

Norm Smith Medallist
Sep 25, 2004
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Yeah interesting isn't it.. Locals will get priced out but that's just what happens when an area becomes popular. People have to adjust.

As much as the Melbourne Mayor and other peanuts are trying to deny it, the days of 9-5/5 days in the office and having to travel to CBDs to 'shop' are done. This is a good thing.

No doubt commercial property owners are lobbying the mayor and state govt to 'push' people back into the office but it's not working...
 

Chief

Overlord
Dec 1, 1999
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The ones with the engineering irregularities?
Melbs in 2015:

Melbs in 2020:

Vacant property tax "built to fail" with self-reporting never checked.

69,000 "ghost homes" in Melbourne:


Many owners, like Matt Doran, who has since put his three bedroom Blackburn home on the market, are simply unaware of the state's vacant residential land tax, introduced in 2018, for which they are now required to "self-report".

"We pay land tax on our second property, but I've never been made aware of it [the vacancy tax]," Mr Doran said.

"Who would even know about this, especially because it's a voluntary system," he said.
 

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