Society/Culture Landlords - What is the point?

[burge13]

Even trying to save a deposit while renting in any capital city is close to impossible, especially if you're single. You either have to move back in with the parents or live in incredibly meagre circumstances.

The deposit is the biggest issue imo. I see no reason why we couldn't make mortgages 35 years and lower the bar for entry that way? Lenders insurance is a rort and should be scrapped as well, stamp duty also while we're at it imo. People can only semi afford this house and banks answer is to charge them MLI?! Madness.

There's things we can do to make things better without crying woe is me. Victim mentality will only hold people back. It isnt impossible and this constant "but the rich get tax breaks or this or that" rather than improving your own backyard is just bizarre to me.

 

[Gethelred]

What

Your argument as espoused in that post is not an unfamiliar one.

 

[faible]

Everyone does. Thats why politicians hand out so much money in welfare and subsidies. It buys votes

Again, this system is available to all. Rather than moan about it, be better. I do enjoy the posters here who always complain about this stuff unwittingly outing themselves as losers as they never seem to have anything but if it stinks everywhere you go, you need to look at your own feet at some point. Stop bitching about "the rich" and worry about yourself....

Also so standard of you to selectively quote tiny parts of a post rather address the overall message. Idiotic

This is simply a bad argument.

'be better'
'work harder'
'stop complaining'
'outing themselves as losers'

None of which addresses that the system is fundamentally broken, that the wealthy wield disproportionate influence to leverage politicians to further benefit their own ends.

You're a loser burge. Just like all us other losers.

The only different is that you're not smart enough to realise it.

Instead you're selling the lines that those with money and power want you to sell; that it's your fault, not the fault of a broken system.

 

[faible]

Get into the property market and build equity

First property doesnt even need to be lived in

or in the state you reside

Yeah.

You've missed the point by a country mile.

 

[burge13]

This is simply a bad argument.

'be better'
'work harder'
'stop complaining'
'outing themselves as losers'

None of which addresses that the system is fundamentally broken, that the wealthy wield disproportionate influence to leverage politicians to further benefit their own ends.

You're a loser burge. Just like all us other losers.

The only different is that you're not smart enough to realise it.

Instead you're selling the lines that those with money and power want you to sell; that it's your fault, not the fault of a broken system.

You can sit on your ass typing away on bigfooty begging daddy government to help you or you can go do something about it. I know which one yields better results, up to you to take action.

Do the wealthy have too much control over politicians? Yes. Which makes it all the more bizarre you loons fangirl over your team.

Can you change anything other than your own circumstance? No. Can you change your circumstance by studying, working more, buying a cheaper house etc. Yes

Seems obvious to me what to do tbh but keep moaning online about the system and maybe you'll get a handout one day

My point isnt as much defending an imperfect system as much as pointing out victim mentality sure doesnt get you anywhere

 

[ElectricG]

You're a loser burge. Just like all us other losers.

The only different is that you're not smart enough to realise it.

that’s really not a nice thing to say Owen. Even if he does barrack the crows.

 

[Nuggs Bunny]

The deposit is the biggest issue imo. I see no reason why we couldn't make mortgages 35 years and lower the bar for entry that way? Lenders insurance is a rort and should be scrapped as well, stamp duty also while we're at it imo. People can only semi afford this house and banks answer is to charge them MLI?! Madness.

There's things we can do to make things better without crying woe is me. Victim mentality will only hold people back. It isnt impossible and this constant "but the rich get tax breaks or this or that" rather than improving your own backyard is just bizarre to me.

So your answer for first home buyers having to live beyond their means to afford houses is to.... increase the amount they have for a deposit by removing stamp duty, increase the amount they can borrow by extending the mortgage period to 35 years and to take away your one safeguard from being in debt for the rest of your life if everything goes **** up?

Just so I'm clear though, are you able to go through the list below and mark up what would and wouldn't be considered a handout in your view?

• First home owner grant
• Abolishing stamp duty
• CGT discount
• Negative gearing for residential properties
• Rent caps for tenants
• Rate discounts for pensioners and low income earners

 

[faible]

You can sit on your ass typing away on bigfooty begging daddy government to help you or you can go do something about it. I know which one yields better results, up to you to take action.

Do the wealthy have too much control over politicians? Yes. Which makes it all the more bizarre you loons fangirl over your team.

Can you change anything other than your own circumstance? No. Can you change your circumstance by studying, working more, buying a cheaper house etc. Yes

Seems obvious to me what to do tbh but keep moaning online about the system and maybe you'll get a handout one day

My point isnt as much defending an imperfect system as much as pointing out victim mentality sure doesnt get you anywhere

Your point is simply that - much like every other argument you try to run with - you make bad arguments.

‘Do better’ doesn’t fix a broken system that disproportionately favours one side of the equation.

The irony of you trying to throw shade about ‘typing away on BigFooty’ given your efforts during covid isn’t lost on anyone either I’m sure.

 

[Nice Swan Brother]

It’s shit, negative gearing to cover the rent gap on an appreciating asset, market turns, asset depreciates and they jack up the rent instead.

The rental bond is used and abused to cover general maintenance.

They essentially cannot lose.

Most investment properties are bought in lower socio economic areas. People from wealthier areas buy them which increases the average house price in suburbs they will likely never visit again once the sale is complete.

And they get away with it because they are apparently a necessary evil.

I don’t blame them, although as a group they are hard to like when you read some of their comments. The incentives need to be removed though.

 

[Maddo11]

We're the first tenants in the house we're in, built specifically by the owners to be rental friendly (think cheap fittings and barely finished, no grass to maintain just a tiny paved patio)

First two leases were 12m and the same price ($450) Since then they jacked it up 22% ($550) and only offered 6m at a time so they can continue to jack it up as interest rates go up.

They're now not offering us a new lease because "they want to renovate" their essentially brand new house. We've never missed a payment. Never complained when the cheap fittings came loose or the soft hose jammed in the back of the water meter at an angle came loose (instead of using a pipe with a fitting). Just quietly fixed it (easy no damage repairs no cost for tools or parts)

I'll bet anyone any money it's re listed within an hour of us leaving for another 30% on top without them even turning the key to "renovate"

 

[Nice Swan Brother]

I rented a house in Melbourne when I moved there for work. It was 100+ years old with gaps in the floorboards. It had some character and was in a good location. We treated it like it was our own house. It had a cottage style garden, which we maintained. When we vacated, the Agent tried to sting us for cleaning and garden maintenance. The cleaning related to dust on the door sills (a 5 mins job). The gardening related to overgrown plants and weeds. I asked for the pre rental report and it was clear that the garden had grown (fancy that) but had way less weeds than when we moved in. I went to the house with a duster and Dyson and cleaned the door sills myself.

They also tried to claim that rusted old junk that was in the outhouse was ours and we had to collect it or pay for it’s removal.

We would have paid 80k+ in rent and they were trying to penny pinch the bond by $500 for a cleaner and a gardener.

It’s horse shit.

Luckily only time I have ever had to rent.

 

[Evolved1]

Median house price in Metro Melbourne is $993,000. Median income at last census was $52k. The system is not set up for people to be able to afford their own housing.

Weird argument.

The average buyer shouldn't be looking to spend $1 mil on their first home. There's affordable housing in the outer suburbs.

 

[Borisdog]

Weird argument.

The average buyer shouldn't be looking to spend $1 mil on their first home. There's affordable housing in the outer suburbs.

Or, perish the thought, somewhere that ISN'T a capital city.

And, boohoo, I can't get X in that shithole regional place doesn't wash.

 

[Evolved1]

Or, perish the thought, somewhere that ISN'T a capital city.

And, boohoo, I can't get X in that shithole regional place doesn't wash.

I'm trying to be sympathetic towards young people, but the shitty entitled attitude many of them display on social media makes it difficult.

Which previous generation thought they were entitled to a median value suburban home first up? JFC.

 

[Nuggs Bunny]

We're strawmanning hard tonight

 

[Evolved1]

We're strawmanning hard tonight

How so?

 

[Nuggs Bunny]

How so?

Because we're back on the good old chestnut of FHBs only wanting new houses in the trendy suburbs of big cities where the house prices are equal if not greater than the median and conveniently overlooking the fact that even the affordable suburbs aren't that affordable anymore. An entry level house in the cheapest suburbs on the fringe is still $400k, and it's probably a house and land package that needs another $20k of work before you can move in. $400k is not horrific by any means, but it's still not a small amount of money particularly when you need to stump up $40k in savings for a 10% deposit that's not without risk as it is. It is a far cry from when you could land a $200k house in a ghetto suburb 10-15 years ago which used to be the cheapest way into the market, but even the ghetto suburbs are pricey now - median in Broady is about $600k.

The issue is not that people cannot buy a house, let's be clear on this. Even though there are a few regulars in this thread that like to believe they are special for buying a house when others seemingly can't, most people in Gen Y and above own their own property and that trend will likely at least continue for Gen Z. The issue is that it is taking longer and a greater percentage of wages are going towards servicing loans on non-liquid assets that is not good for the economy. It's not an issue that's fixed by buying a house in Pakenham East or... being unemployed in Shepparton I guess?

 

[Evolved1]

Because we're back on the good old chestnut of FHBs only wanting new houses in the trendy suburbs of big cities where the house prices are equal if not greater than the median and conveniently overlooking the fact that even the affordable suburbs aren't that affordable anymore. An entry level house in the cheapest suburbs on the fringe is still $400k, and it's probably a house and land package that needs another $20k of work before you can move in. $400k is not horrific by any means, but it's still not a small amount of money particularly when you need to stump up $40k in savings for a 10% deposit that's not without risk as it is. It is a far cry from when you could land a $200k house in a ghetto suburb 10-15 years ago which used to be the cheapest way into the market, but even the ghetto suburbs are pricey now - median in Broady is about $600k.

4-500k seems affordable to me with current interest rates. The average person can land themselves a 2/3br home close to an outer suburban train station for that money.

I question whether the average young person wants to live within their means.

The issue is not that people cannot buy a house, let's be clear on this. Even though there are a few regulars in this thread that like to believe they are special for buying a house when others seemingly can't,

That's where our views digress. Those who refuse to move more than 20k away from the CBD think they're special.

most people in Gen Y and above own their own property and that trend will likely at least continue for Gen Z. The issue is that it is taking longer and a greater percentage of wages are going towards servicing loans on non-liquid assets that is not good for the economy.

I agree. Let's solve the issue by raising interest rates to push property prices down. Will young people stfu then?

It's not an issue that's fixed by buying a house in Pakenham East or... being unemployed in Shepparton I guess?

Pakenham East puts you close to the M1. Seems a good start for youth, no?

 

[Nuggs Bunny]

4-500k seems affordable to me with current interest rates. The average person can land themselves a 2/3br home close to an outer suburban train station for that money.

I question whether the average young person wants to live within their means.

That's where our views digress. Those who refuse to move more than 20k away from the CBD think they're special.


I agree. Let's solve the issue by raising interest rates to push property prices down. Will young people stfu then?

Pakenham East puts you close to the M1. Seems a good start for youth, no?

You're still strawmanning about a mostly imaginary class of youff who won't move away from the inner ring I see.

If over half of millennials own their own home, and the outer suburbs are dominated by first home buyers, how do you compute the average young person is not living within their means?

 

[Upgrayedd]

Owning property's is great and all, but you will never know the simple pleasures of pouring grease down the sink or flushing wet wipes. I'm not going to say all landlords are bad. But wanting to raise rents by 60%? Go and get ****ed

 

[morningbrown]

Weird argument.

The average buyer shouldn't be looking to spend $1 mil on their first home. There's affordable housing in the outer suburbs.

Or, perish the thought, somewhere that ISN'T a capital city.

And, boohoo, I can't get X in that shithole regional place doesn't wash.

The problem is that the $1m houses are 60 year old dumps in places like Fawkner and Reservoir, which ain't CBD or fancy at all. These places were going for a song in the 80s and 90s, and the wage to house ratio wasn't at the ridiculous level it is now. Young people aren't entitled, we just want a fair go which is impossible in 2022.

 

[Carringbush2010]

You're still strawmanning about a mostly imaginary class of youff who won't move away from the inner ring I see.

If over half of millennials own their own home, and the outer suburbs are dominated by first home buyers, how do you compute the average young person is not living within their means?

Well obviously there's fair doubt that over half the millennials would own their own home. Otherwise there wouldn't be a discussion about it.

 

[morningbrown]

And this other argument about young people not wanting to "live within our means".

Quite simply the "means" is dramatically worse in 2022 than it was in 1992. A person could work full time in a pretty skill less job and afford to buy a house and go on holidays regularly. In 2022 people with post grad degrees have to work in hospo and be underpaid while renting a house that's owned by a succubus who owns another six investment properties and is charging whatever the hell they want.

 

[Carringbush2010]

And this other argument about young people not wanting to "live within our means".

Quite simply the "means" is dramatically worse in 2022 than it was in 1992. A person could work full time in a pretty skill less job and afford to buy a house and go on holidays regularly. In 2022 people with post grad degrees have to work in hospo and be underpaid while renting a house that's owned by a succubus who owns another six investment properties and is charging whatever the hell they want.

In 1992 I was full time working poverty, sure, it wasn't the rule but the working poverty class existed

That meant I had to rely on handouts from mum / dad or choose between rent or fuel to get to work. Or had to go back to live with dad, that latter was the choice.

Not that the old man was happy about me living with him and paying f all board coz I couldn't afford it.

 

[faible]

You're still strawmanning about a mostly imaginary class of youff who won't move away from the inner ring I see.

If over half of millennials own their own home, and the outer suburbs are dominated by first home buyers, how do you compute the average young person is not living within their means?

https://www.realestate.com.au/vic/pakenham-3810/

$650,000

Mortgage Repayments Calculator - Home Loan Repayments

Effortlessly manage your budget with Commbank's mortgage repayment calculator. Quickly estimate your home loan repayments using this easy-to-use tool.

www.commbank.com.au

$650,000 over 30 years = $3,271 / month = $39,252 / year

What's the typical income in Australia? This list shows the incomes of hundreds of occupations

If you want to compare your income to your neighbour's, the average taxable income is not the whole story, writes Gareth Hutchens.

www.abc.net.au

Median income = $48,381 / year

Ouch.