Boomers vs the rest

[mr bagcroft]

I'd only incentivise selling investment properties, not the principal place of residence FWIW.

So they're selling, making bank, and not buying anything.

Still dont think its right, but like I said, not my circus not my monkeys.
Reality these days is, everything is god damn expensive , and in Australia we have this culture of owning property that is a bit....
out of whack.
Like its a right.
Very much different in places like Europe for example.
But here, the "great aussie dream" has turned into something I have a right to have at a price I deem I can afford.
Welcome to life, its not meant to be fair.

 

[Chief]

That won't make you very popular Chief.
We all want to be loved dont we?

This is some tangent you're on.

Your characterisation of taxing capital gains doesn't hold water.

 

[faible]

Still dont think its right, but like I said, not my circus not my monkeys.
Reality these days is, everything is god damn expensive , and in Australia we have this culture of owning property that is a bit....
out of whack.
Like its a right.
Very much different in places like Europe for example.
But here, the "great aussie dream" has turned into something I have a right to have at a price I deem I can afford.
Welcome to life, its not meant to be fair.

Most of the planet has housing affordability issues, Australia is a little more unique because there's such little employment available outside of the major cities which forces a massive amount of our population to live in a very limited amount of space despite the country itself being very large for the number of people who live there.

Thus along with disincentiving residential property investing, there needs to be a focus on better laws around long-term rentals. Things like what they did in Victoria during COVID where you can do basic things without asking permission e.g. hanging pictures, or not being able to unreasonably refuse a tenant buying a dog type stuff.

 

[Billy ray]

At least these boomers with 2-3-4 investment properties (which would all be positively geared nowadays you think) are paying tax on this income and also not on the pension.

I think they should from next budget only allow new property builds to be allowed to be negatively geared/allowed deductions etc. at least force property investors to increase the supply. Not compete for established homes.

 

[Madas]

Just their 3rd and 4th investment properties would be fine

Ok I’ll hand back my investment properties when all these young CEO’s , Crypto , App Developer , Social Media , Influenzers , Vloggers , Bloggers , Hedge Funder , Day Trader - Million/ BillionAirs hand back all the cash they have ripped off the average Joes trying to get ahead .

 

[Richard Cranium]

Ok I’ll hand back my investment properties when all these young CEO’s , Crypto , App Developer , Social Media , Influenzers , Vloggers , Bloggers , Hedge Funder , Day Trader - Million/ BillionAirs hand back all the cash they have ripped off the average Joes trying to get ahead .

You don't even own one home Madas.

 

[Madas]

You don't even own one home Madas.

And how are you so sure of this statement Mr . Cranium ?
Have we met ?

 

[faible]

Ok I’ll hand back my investment properties when all these young CEO’s , Crypto , App Developer , Social Media , Influenzers , Vloggers , Bloggers , Hedge Funder , Day Trader - Million/ BillionAirs hand back all the cash they have ripped off the average Joes trying to get ahead .

So basically anyone who has made a living in a field you don’t understand should hand money back, whether legitimately earned or not?

 

[Madas]

So basically anyone who has made a living in a field you don’t understand should hand money back, whether legitimately earned or not?

I’ve legitimately earned my investments and plan to use them for retirement and it’s a meager amount compared to the ridiculous sums that some of those I mentioned have accumulated ( I won’t use the term earned in this instance because it’s not applicable in a lot of their cases)

During the lifecycle of my investments I have also created employment, housing stock for people to rent and paid taxes , lots of them

When you go through the list of the types of people I have mentioned you will find they haven’t really productively contributed much to society but have taken out massive amounts

To quote a term from the Boomers “ you’re barking up the wrong tree “
Focus your angst on the spongers and corporations not paying tax in Australia and I think you’ll find that Negative gearing becomes a pittance in comparison

 

[faible]

I’ve legitimately earned my investments and plan to use them for retirement and it’s a meager amount compared to the ridiculous sums that some of those I mentioned have accumulated ( I won’t use the term earned in this instance because it’s not applicable in a lot of their cases)

During the lifecycle of my investments I have also created employment, housing stock for people to rent and paid taxes , lots of them

When you go through the list of the types of people I have mentioned you will find they haven’t really productively contributed much to society but have taken out massive amounts

To quote a term from the Boomers “ you’re barking up the wrong tree “
Focus your angst on the spongers and corporations not paying tax in Australia and I think you’ll find that Negative gearing becomes a pittance in comparison

So yes, you don’t understand it and think they should hand the money back? As though there was never exceptionally wealthy before.

I also appreciate you painting your investing as some kind of altruistic social good as well, such a kindly boomer. Investing in housing to provide stock for poor people to rent. Go you!

The boomers are the ones in government, making the laws. The boomers were the critical voting bloc over the past two or three decades voting for those governments that made those laws.

So no, you don’t get to pat yourself on the back and pretend you invested for social good and weren’t voting for selfish reasons that are impacting following generations today.

 

[Kram]

It's annoying, when i was young I missed out getting in on Perth before values doubled almost in a couple of years in the early 00s but just got on with it and a plan and now 20 years later finally in a position to get something paying cash if I want.

It's harder than ever before but it has always been hard for anyone to buy a home.

Lack of supply to meet demand is obviously the problem but it is what it is, take some personal responsibility and map out a way to do it instead of blaming everyone else.

 

[JyeDye]

It's annoying, when i was young I missed out getting in on Perth before values doubled almost in a couple of years in the early 00s but just got on with it and a plan and now 20 years later finally in a position to get something paying cash if I want.

It's harder than ever before but it has always been hard for anyone to buy a home.

Lack of supply to meet demand is obviously the problem but it is what it is, take some personal responsibility and map out a way to do it instead of blaming everyone else.

If we just said 'it is what it is' to everything in politics we'd still be sitting here with some pretty caveman ideologies in place.

People can do both. Deal with the hand they've been dealt, whilst trying to work on ways that future generations don't get as shit of a hand.

 

[faible]

If we just said 'it is what it is' to everything in politics we'd still be sitting here with some pretty caveman ideologies in place.

People can do both. Deal with the hand they've been dealt, whilst trying to work on ways that future generations don't get as s**t of a hand.

Exactly, one can walk and chew gum at the same time. We can recognise there’s a problem and try to improve the situation for the future, whilst making the best of the current situation.

The idea that oh it’s tough but I did it so everyone else has to do it tough (or tougher) too is quite mean spirited.

People expecting to buy a home, live in the home or rent it, and make huge capital returns all at the same time is a relatively modern phenomenon.

 

[Kram]

Apart from fiddling around at the edges pretending to do something no politician or party of any team is going to make any real meaningful difference to the cost of housing, its the hand we have so you just have to run with it.

 

[Pakenhamsaint]

Apart from fiddling around at the edges pretending to do something no politician or party of any team is going to make any real meaningful difference to the cost of housing, its the hand we have so you just have to run with it.

There's plenty of things they can do. It's just they won't because of the screeching from vested interests.

 

[Madas]

So yes, you don’t understand it and think they should hand the money back? As though there was never exceptionally wealthy before.

I also appreciate you painting your investing as some kind of altruistic social good as well, such a kindly boomer. Investing in housing to provide stock for poor people to rent. Go you!

The boomers are the ones in government, making the laws. The boomers were the critical voting bloc over the past two or three decades voting for those governments that made those laws.

So no, you don’t get to pat yourself on the back and pretend you invested for social good and weren’t voting for selfish reasons that are impacting following generations today.

I’ll just leave this here

 

[Madas]

I’ll just leave this here

No I won’t

So you just totally dismissed the other points I made about missed taxation which is the biggest gripe most people have with negative gearing on investment properties ?.
Im all for affordable housing and if you knew me you would know I am doing what I can in my community to adress this problem , please don’t be so quick to judge .
I’ve mentioned in other affordable housing threads that I think negative gearing should only ever have been for new housing

So on top of the other things I mentioned :
I stumped up the capital
Went through all efforts and risks of borrowing and building
Built properties that people now rent while they save or are building their own properties

Meanwhile I have hopefully provided an income for my retirement so I don’t become a drain on society whilst these houses continue to provide the above option for renters .

Spin it how you want but most mum and dad investors like me are not money hungry capitalists
We did what we were advised to do by our parents and what we understood
We have no control of population growth , immigration , land supply releases etc
These are the drivers of demand
If prices keep going up it’s because it’s a popular country in a capitalist society.

There are plenty of other agendas you could rail against if you truly want to adress the issue .
Try asking the government why they don’t open up huge tracts of cheap land and then drop the taxes on building materials to incentivise more housing stock to be built

 

[Rotayjay]

Does anyone seriously think the cost of shelter doubling every few years is healthy for society?

 

[raskolnikov]

They were raised by people who knew almost nothing but surging success, then knew that too.

The young people today will raise children with stories of war and hardship such that they won't need to invent struggles for themselves

Utter garbage.

 

[Taylor]

Utter garbage.

I hope I'm wrong. I've lived my whole life with barely a recession to speak of and no threat of war here.

It's been paradise

 

[Chief]

But you know it isn't like that for everyone, right?

 

[Taylor]

But you know it isn't like that for everyone, right?

Those suburbs with open warfare and currency collapse down the road aren't somewhere I've lived, right

 

[Chief]

Those suburbs with open warfare and currency collapse down the road aren't somewhere I've lived, right

A hur hur hurrrrr!

 

[Madas]

Does anyone seriously think the cost of shelter doubling every few years is healthy for society?

Fairly exaggerated but I understand your point
Prices double about every 15 years but escalated in recent years ( Global economy , easier to travel , stability of Australia?)

After GFC till about 2019 it plateaued then went backwards.
Covid bullshit made it go Bunta !

The fact it increases is growing population and limited land release

And anyway
Tell me with a straight face if you buy a house that you wouldn’t want it to be worth more when you sell it in the future ?

 

[Taylor]

A hur hur hurrrrr!

Given that I was clearly talking about Australia being free of war and economic depression that's something everyone experienced equally.

I know you need to keep on the negatives but we are all very lucky to live in the best place, at the best time ever for humanity.