Society/Culture Landlords - What is the point?

[greyhound punter]

What am I reading?

Who would buy shares if the dividend is less than a term deposit?

In the years of 0.2% savings rates....plenty of people were hoovering up shares offering 2-3% yields.

Assets need to be repriced.

I'm just the messenger.

 

[Nuggs Bunny]

In the years of 0.2% savings rates....plenty of people were hoovering up shares offering 2-3% yields.

Assets need to be repriced.

I'm just the messenger.

The messenger of the Risk Averse Investors Club? Or are you a time traveler, and you're messaging us from 1986?

 

[owen87]

In the years of 0.2% savings rates....plenty of people were hoovering up shares offering 2-3% yields.

Assets need to be repriced.

I'm just the messenger.

You're going to be really surprised when you find out shares also appreciate in value alongside the dividend yield.

 

[burge13]

This doesnt help the house price situation...

Tiny fries compared to other issues but still doesnt help absorbing large numbers of overseas millionaires

 

[owen87]

This doesnt help the house price situation...

Tiny fries compared to other issues but still doesnt help absorbing large numbers of overseas millionaires

I wouldn’t have said an extra 5200 people is all that many. We have ~ 315,000 new births a year for perspective.

And being worth > USD $1m doesn’t necessarily even buy them a big house in a major city.

 

[kickazz]

Get rid of stamp duty.
Introduce an empty dwelling tax - encourage owners to use it or lose it (sell) basically.
Fix up the rort that makes land so stupidly expensive.

 

[Frank Grimes]

Looks like the landlords are exiting Melbourne in droves. Pretty much for every 3 properties in the market sold only one property is bought as an investment. At least this will mean housing in Victoria is now affordable (based on the argument some people make that if the landlords leave housing will become more affordable).

 

[barreness]

Looks like the landlords are exiting Melbourne in droves. Pretty much for every 3 properties in the market sold only one property is bought as an investment. At least this will mean housing in Victoria is now affordable (based on the argument some people make that if the landlords leave housing will become more affordable).

Won't really have an effect on affordability yeh? Can't see it changing the unaffordable rent prices either

Less investors=more owner occupyers/less renters. Zero sum game barring a few edge cases

Just less parasitical rent seeking, taxes are working

 

[Gralin]

Looks like the landlords are exiting Melbourne in droves. Pretty much for every 3 properties in the market sold only one property is bought as an investment. At least this will mean housing in Victoria is now affordable (based on the argument some people make that if the landlords leave housing will become more affordable).

fake news Grimesy

Landlords 'over-represented' in property market as house prices rise for 14th straight month

New data shows landlords are buying every third property that hits the market, as house values continue to grow. Some experts say it's keeping house prices out of reach for young people and first home buyers.

www.abc.net.au

While buying a home to live in remains out of reach for many Australians, investors are flooding back into the housing market.

Data from the Australian Bureau of Statistics shows lending to investors — otherwise known as landlords — has jumped almost 20 per cent in the past year.

Almost four in 10 people taking out a mortgage now are landlords.

 

[Gralin]

Also did anyone see this clip from the project doing the rounds?

so many people getting angry at the idea of homeless people squatting in vacant properties lol

 

[kickazz]

Also did anyone see this clip from the project doing the rounds?

so many people getting angry at the idea of homeless people squatting in vacant properties lol

Really interesting stuff - I haven't watched The Project in ages, seems their annoying habit of inserting a s**t joke into serious stories so the viewers don't get too upset still persists.

But I digress. What should be making people angry is families living in cars, sky high rents for shithouse homes, and taxpayers subsidising the losses of those who invest in housing without actually increasing supply.

Yes there are issues with what this guy is promoting, but it is all born out of necessity. His point about taxing vacant properties - that is the first thing that needs to be done. One thing that capitalists and socialists can surely agree on is that idle capital is a bad thing. So if you aren't going to put it to use, sell it to somebody who will.

I think this is a great idea. He is taking a problem created by scarcity and flipping it on its head by applying an abundance lens. As I said there are issues with this but so be it - it might just be what we need to bust out of the housing problem inertia we are experiencing.

 

[owen87]

Also did anyone see this clip from the project doing the rounds?

so many people getting angry at the idea of homeless people squatting in vacant properties lol

Jordy is hilarious. The rental market is such a s**t show and he regularly gets threats from REA's about the posts he does on properties listed in appalling condition.

 

[Gralin]

Really interesting stuff - I haven't watched The Project in ages, seems their annoying habit of inserting a s**t joke into serious stories so the viewers don't get too upset still persists.

But I digress. What should be making people angry is families living in cars, sky high rents for shithouse homes, and taxpayers subsidising the losses of those who invest in housing without actually increasing supply.

Yes there are issues with what this guy is promoting, but it is all born out of necessity. His point about taxing vacant properties - that is the first thing that needs to be done. One thing that capitalists and socialists can surely agree on is that idle capital is a bad thing. So if you aren't going to put it to use, sell it to somebody who will.

I think this is a great idea. He is taking a problem created by scarcity and flipping it on its head by applying an abundance lens. As I said there are issues with this but so be it - it might just be what we need to bust out of the housing problem inertia we are experiencing.

he also runs s**t rentals which is a website that highlights the absolute state of rental properties and how toothless legislation around minimum standards are

largely by design too

governments love a bit of legislation that isn't enforceable, they can say they fixed the problem and then don't actually have to do anything material

the other thing highlighted is just how s**t the media class in this country are

like they have no clue about the realities they report on

cost of living, housing, these people aren't struggling financially, most of them were never anything close to poor because to make it in their chosen career you need financial support

like they point and laugh at out of touch politicians and think they are salt of the earth people

 

[kickazz]

the other thing highlighted is just how s**t the media class in this country are

like they have no clue about the realities they report on

cost of living, housing, these people aren't struggling financially, most of them were never anything close to poor because to make it in their chosen career you need financial support

..probably via their parent's "mum and dad" investment property.

 

[The Cryptkeeper]

They should look at something like increasing stamp duty for each subsequent property someone buys over and above their PPOR.

eg. first investment property attracts 125% stamp duty, second one 150%, third 175% and so on.

 

[Gralin]

They should look at something like increasing stamp duty for each subsequent property someone buys over and above their PPOR.

eg. first investment property attracts 125% stamp duty, second one 150%, third 175% and so on.

this will only stop a percentage of landlords

those with the means to get around this will further consolidate the market into fewer hands

pretty much anything they will consider doing won't fix the problem because they don't want to fix it

their own self interest is in keeping it going, politicians are almost all landlords and most have multiple properties

massive conflict of interest directly before you get into donors

it was good to see that rank and file labor members are challenging the government on their big sell off of public housing and land, I really hope they have success

because its clear that the machines of government actually do not have any interest in fixing inequality at all

 

[Seeds]

They should look at something like increasing stamp duty for each subsequent property someone buys over and above their PPOR.

eg. first investment property attracts 125% stamp duty, second one 150%, third 175% and so on.

Stamp duty shouldnt be a thing. At all. It does economists heads in that stamp duty exists. It imposes a large inefficiency to society that benefits no one.

We need much higher land taxes instead and zero stamp duty. To discourage rental properties (and encourage home ownership) we need to remove capital gains discounts for landlords and remove negative gearing. Not impose distortionary taxes that create inefficiencies like higher stamp duty.

 

[Pakenhamsaint]

Also did anyone see this clip from the project doing the rounds?

so many people getting angry at the idea of homeless people squatting in vacant properties lol

I did get a chuckle from the yank on X who tried doxxing him and publishing his address..........that was his parcel locker.

 

[Gralin]

I did get a chuckle from the yank on X who tried doxxing him and publishing his address..........that was his parcel locker.

its great


This guy sounds like he'd be all for this yeah?




oh Libtertarians do it again

 

[owen87]

its great
View attachment 1955393

This guy sounds like he'd be all for this yeah?




oh Libtertarians do it again

My favourite part was this:

Or is he protected because he's politically aligned with your masters?

Because Jordy is definitely politically aligned with the people in charge in this country...

 

[ShanDog]

Should be a law that allows people to squat in unused properties that have been vacant for a certain period of time, with the caveat that they are also responsible for any damages etc when they leave, and that once a signed lease for tenants happens, they have to vacate within a certain time frame.

 

[Frank Grimes]

Should be a law that allows people to squat in unused properties that have been vacant for a certain period of time, with the caveat that they are also responsible for any damages etc when they leave, and that once a signed lease for tenants happens, they have to vacate within a certain time frame.

Squating isn't illegal. It is only illegal if the owner asks them to leave and refuse; or if they "break in" the house (not sure if breaking in means actually opening an unlocked door or if actually breaking the lock or window to get in).

That means even if someone leaves on a weekend vacation and accidentally leave their door open you can enter the house and sit on their couch, sleep in their bed, play their PlayStation (don't forget to delete all their saved files before leaving lol) etc and it will be fine by law to do so until the owners come back home and tell you to leave.

 

[burge13]

Squating isn't illegal. It is only illegal if the owner asks them to leave and refuse; or if they "break in" the house (not sure if breaking in means actually opening an unlocked door or if actually breaking the lock or window to get in).

That means even if someone leaves on a weekend vacation and accidentally leave their door open you can enter the house and sit on their couch, sleep in their bed, play their PlayStation (don't forget to delete all their saved files before leaving lol) etc and it will be fine by law to do so until the owners come back home and tell you to leave.

God we have some dumb laws, how is that not illegal by default...

 

[leon123]

Stamp duty shouldnt be a thing. At all. It does economists heads in that stamp duty exists. It imposes a large inefficiency to society that benefits no one.

We need much higher land taxes instead and zero stamp duty. To discourage rental properties (and encourage home ownership) we need to remove capital gains discounts for landlords and remove negative gearing. Not impose distortionary taxes that create inefficiencies like higher stamp duty.

Agree with all stated except the negative gearing

 

[leon123]

Should be a law that allows people to squat in unused properties that have been vacant for a certain period of time, with the caveat that they are also responsible for any damages etc when they leave, and that once a signed lease for tenants happens, they have to vacate within a certain time frame.

wow - like to see how that would work. Id suggest, it wouldnt