Discussion Random Discussion (No Politics, Religion) - SHOW CHIN PASSPORT ON ENTRY

[gringo2011]

Great time to buy property - if you are wealthy enough to afford it. Giant ponzi scheme supported by all govts in Australia because they've made it too big to fail. Yours and Gringo's response to Pakenhamsaints dilemma is proof positive that the property market is no longer about housing it's about "investment". Feel sorry for you Pakenhamsaint - and unless there's a radical change in policy or a complete collapse in the market you will pushing the proverbial up hill for a while yet. Covid will stop immigration which should dampen prices a little but the incentives offered push them up again.

That's true, I hate negative gearing and the property as an investment model but if he wants a house long term you have to play the game. It's more about the only way to move up to your own property is to play Monopoly. People all want their own property, now you have to pay overs and battle against the current but I'd hate for him to miss out because it seems too hard. It's stacked against young people but not impossible. The first house I bought was $160,000 and seemed like you could never pay it off in your lifetime, now you wish you could find car park in Melbourne that cheap.

I don't have any income generating property at the moment by the way but I have had and it means I have hardly any money owing on the family home which means I can do things like travel or buy crap I don't need.

 

[Joffaboy]

That's true, I hate negative gearing and the property as an investment model but if he wants a house long term you have to play the game. It's more about the only way to move up to your own property is to play Monopoly. People all want their own property, now you have to pay overs and battle against the current but I'd hate for him to miss out because it seems too hard. It's stacked against young people but not impossible. The first house I bought was $160,000 and seemed like you could never pay it off in your lifetime, now you wish you could find car park in Melbourne that cheap.

I don't have any income generating property at the moment by the way but I have had and it means I have hardly any money owing on the family home which means I can do things like travel or buy crap I don't need.

In the same position although a fair bit older than you. Have a couple of neg geared properties, not making fantastic capital gains, but investments and a couple of small inheritances has allowed us to pay our family home off quite a while ago.

However with the set up of society now, we have a 25 y.o daughter still at home who has only just started as a lawyer, meaning she was on the books until earlier this year.

As for more money for buying useless s**t, the bonus of getting older is you don't desire things as much as you once did. Also, and from what I gather this is not an isolated case, we have saved money hand over fist during lockdown. None of us lost out jobs and 3 are WFH, all the added expense of the communte, (travel costs, lunch, coffee, clothes, dry cleaning etc) and not going anywhere for 7 months means we spent SFA.

Not bragging, or rubbing anything in, we all know we were lucky. So many people lost jobs and/or savings due to the pandemic. I hate the term winners and losers, nobody who couldn't work is a loser during this year, just in this case the cards fell our way. Plenty of times they haven't over the journey and hopefully still pleanty of the journey to go, so nothing is ever guaranteed.

 

[sammm]

Crunching the numbers the max I really could borrow is 200k.
Thats how pitful my wage really is.

If your job is reasonably secure. There are properties in the country for under $200k

You need to make sure that you can pay for repayments.

 

[George]

Crunching the numbers the max I really could borrow is 200k.
Thats how pitful my wage really is.

How would your parents feel about putting themselves up as guarantor?

Doing loan calculators yourself and speaking to a broker you'll see the numbers are very different. My brother has been only working fulltime for a couple of years as an apprentice and can already borrow around $300,000.

If you can speak with a lender or a broker you should be able to borrow more than what you are saying. Also for at least 3 months prior to applying for a mortgage I'd recommend you clean up your transactions - can't tell you how unbelievably strict they are on unnecessary expenses (takeaway, alcohol, etc).

 

[SaintsSeptember]

I was pissfarting around looking at houses for sale and how much I could borrow based off off my wage.
fu** that was depressing. May as well say I'm priced out of the market.

I broke up with my wife a bit over a year ago.

She's wanting to settle , and i'm stuck having to try to buy out her half of a house i want to stay in , which i can't really afford.
I'd downsize if i could , but i still have my daughter ( Uni Student ) living there, wanting her boyfriend to move in , a large dog, and my other kids visiting a lot.

Really hard for me to get motivated. We'll both need to talk to lawyers, and while she's not really in greed mode right now, no doubt her lawyer will change her mind. Then i'll need to come back at her about the car she bought the year before we broke up, then she'll crack the shits, and our amicable breakup will turn to crap.

 

[Mowman]

Crunching the numbers the max I really could borrow is 200k.
Thats how pitful my wage really is.

How old are you Pakenhamsaint if you dont mind me asking ?

 

[Pakenhamsaint]

How old are you Pakenhamsaint if you dont mind me asking ?

28.

 

[sammm]

How would your parents feel about putting themselves up as guarantor?

Doing loan calculators yourself and speaking to a broker you'll see the numbers are very different. My brother has been only working fulltime for a couple of years as an apprentice and can already borrow around $300,000.

If you can speak with a lender or a broker you should be able to borrow more than what you are saying. Also for at least 3 months prior to applying for a mortgage I'd recommend you clean up your transactions - can't tell you how unbelievably strict they are on unnecessary expenses (takeaway, alcohol, etc).

And make sure that you pay your bills on time and if possible pay your credit card off in full each month.

 

[StCicatriz]

How would your parents feel about putting themselves up as guarantor?

Doing loan calculators yourself and speaking to a broker you'll see the numbers are very different. My brother has been only working fulltime for a couple of years as an apprentice and can already borrow around $300,000.

If you can speak with a lender or a broker you should be able to borrow more than what you are saying. Also for at least 3 months prior to applying for a mortgage I'd recommend you clean up your transactions - can't tell you how unbelievably strict they are on unnecessary expenses (takeaway, alcohol, etc).

worth remembering you will pay more in payments, but if you can't wait and hit the 2-5%...

the government has a new LMI scheme but i suspect it means higher interest rates.

my in laws told us the same thing RE: "unnecessary expenses". but we didn't hear a word back from the bank. i wonder if the mortgage broker just sorted that all out for us?

 

[George]

And make sure that you pay your bills on time and if possible pay your credit card off in full each month.

Yeah just no bad credit rating, minimal to no other loans and a responsible transaction history and you should be fine.

 

[StCicatriz]

I broke up with my wife a bit over a year ago.

She's wanting to settle , and i'm stuck having to try to buy out her half of a house i want to stay in , which i can't really afford.
I'd downsize if i could , but i still have my daughter ( Uni Student ) living there, wanting her boyfriend to move in , a large dog, and my other kids visiting a lot.

Really hard for me to get motivated. We'll both need to talk to lawyers, and while she's not really in greed mode right now, no doubt her lawyer will change her mind. Then i'll need to come back at her about the car she bought the year before we broke up, then she'll crack the shits, and our amicable breakup will turn to crap.

sorry to hear that mate :-(

 

[SAINTsincebirth]

Downloaded the Duck Duck Go browser today for my phone and the extension for Chrome for the laptop to stop ads and tracking.

So far it seems good, not getting the crappy outbrain links at the bottom pages and ads are blocked......

I’m a bit freaked out by The Social Dilemma movie so changed over but I’m sceptical how this browser makes money, the line, “if you’re not paying for the product, you are the product” comes to mind.

You need to run a VPN and run your whole network through TOR as this will provide a ip, Macc address and DNS details that are not yours. Duck Duck Go is only the tip of the iceberg..... also run a fingerprint spoof that tells your on a different platform.

 

[Roddy Grant]

You need to run a VPN and run your whole network through TOR as this will provide a ip, Macc address and DNS details that are not yours. Duck Duck Go is only the tip of the iceberg..... also run a fingerprint spoof that tells your on a different platform.

Any VPN you would recommend?

Just reading about TOR now, I didn’t know anything about this.

 

[Armitage2Riewoldt]

Any VPN you would recommend?

Just reading about TOR now, I didn’t know anything about this.

Curious about this too. I’ve heard PIA and Nord are two of the better ones.

 

[George]

ExpressVPN. It is one of the few that actually white list your history. Some VPN's still hold your internet history even if your ISP can't see it.

 

[Joffaboy]

Netflix has a very good movie, Hillbilly Elegy written about 'white trash, from the rust belt and gives an insight into why Trump won in 2016 in these states.

The poverty and hopelessness is dire.

 

[StCicatriz]

Netflix has a very good movie, Hillbilly Elegy written about 'white trash, from the rust belt and gives an insight into why Trump won in 2016 in these states.

The poverty and hopelessness is dire.

IMO it starts with the education system. ours has been going down the same path but still is nowhere near the lowly standards of the public system in the US. there's a direct connection between education levels and the outcome we all saw.

i'll stand corrected here but IMO education is a very proactive measure with a very lagging indicator. takes a good 30 years for it to come into effect. get it right and your innovation really comes to the fore and you start really getting ahead as a nation. let it lag and you start concentrating on s**t that doesn't matter anymore and you start to become a pretty damn basic labor market. i.e. you're good at pulling rocks out of the ground, but can't do anything with them and your tertiary industries start to wane and get overtaken by other countries. basically a bunch of labourers + sales men and middle managers, which domestically will compete with each other but when on the international stage get out performed very easily.

we go ok because we have iron ore and a competitive advantage there due to location and quality. is there anything else we do well at?

 

[sammm]

Any VPN you would recommend?

Just reading about TOR now, I didn’t know anything about this.

I sm using one from AVG. Seems ok

 

[gringo2011]

IMO it starts with the education system. ours has been going down the same path but still is nowhere near the lowly standards of the public system in the US. there's a direct connection between education levels and the outcome we all saw.

i'll stand corrected here but IMO education is a very proactive measure with a very lagging indicator. takes a good 30 years for it to come into effect. get it right and your innovation really comes to the fore and you start really getting ahead as a nation. let it lag and you start concentrating on sh*t that doesn't matter anymore and you start to become a pretty damn basic labor market. i.e. you're good at pulling rocks out of the ground, but can't do anything with them and your tertiary industries start to wane and get overtaken by other countries. basically a bunch of labourers + sales men and middle managers, which domestically will compete with each other but when on the international stage get out performed very easily.

we go ok because we have iron ore and a competitive advantage there due to location and quality. is there anything else we do well at?

Yeah, years ago I saw a great article that argued that the John Howard era prosperity was a result of increased higher education started as the Gough Whitlam free uni scheme. If you read Freakanomics they argue that the hard on crime stance didn't drop violence in NYC but abortion 15 years before that removing an large number of an underprivileged class.

 

[Joffaboy]

we go ok because we have iron ore and a competitive advantage there due to location and quality. is there anything else we do well at?

Tourism and Education. We are a first world country with a third world economy based on commodities.

This is why we are missing our chance to be the literal powerhouse of the 21st century regarding renewables. While we have the parties beholden to the coal and ore lobby, we will have politicians deliberately dragging their feet on things such as solar and battery.

 

[Kildonan]

Getting very close to becoming political...

 

[gringo2011]

Tourism and Education. We are a first world country with a third world economy based on commodities.

This is why we are missing our chance to be the literal powerhouse of the 21st century regarding renewables. While we have the parties beholden to the coal and ore lobby, we will have politicians deliberately dragging their feet on things such as solar and battery.

Selling our university spots to overseas students seems dumb to me. Educate your own and have the private sector run overseas education as a seperate industry. Diversification is long over due here, even with trade, we are learning not to get too attached to one partner now that China has gone full bully.

 

[gringo2011]

Getting very close to becoming political...

Sorry boss, we need a safe port for us dickheads who can help themselves.

 

[SaintsSeptember]

Selling our university spots to overseas students seems dumb to me. Educate your own and have the private sector run overseas education as a seperate industry. Diversification is long over due here, even with trade, we are learning not to get too attached to one partner now that China has gone full bully.

That's like arguing that we shouldn't export minerals or machines.

 

[Dr Spaceman]

Getting very close to becoming political...

Clearly not enough threads.

Perhaps in addition to the “Random Discussion” thread, and this “Random Discussion (No Politics, Religion)” thread, we also need a “Random Discussion (Absobloodylutely No Politics, Religion)” thread