Retired British Skeleton Bobsleigh Athlete. Multiple British, Inter-Service & Army Champion and GBR reserve for the 2002 Olympic Winter Games (I was robbed)
@Frog05575343@ausstockchick So current investors(grandfathered for NG) will jump on the 'Gravy Train' with the new investors. So you are saying that Landlords are greedy......which is why the property market in Australia is screwed.
Scott Pape, @tweetbarefoot, nails it perfectly here.
Two key lines:
"... June quarter, prices ... slipped by just 2.5%. Over the past year... up 3.9%"
"Something to check, brag about, and borrow against. We forgot what they’re actually for. A house is for living in."
@markbouris If only housing had not been used as an investment. People would have much smaller mortgages, rents would be manageable leaving more money in the pockets allowing people to live and enjoy life.
@AvidCommentator 100% Iv'e been saying for a long time, the cost of owning property or renting consumes a huge level of income. After the utility bills and living costs, there is little left to enjoy life. Pubs, bars, restaurants, holidays, clothes, cars are all put on hold, businesses struggle.
@ausstockchick If only buying property had not been encouraged as an investment. Just imagine if the price of property was 50% cheaper, people would have much more of their money to enjoy life. Successive governments have failed the Australian people.
@VoteLewko Correct me if I'm wrong, but the ACT has 'Rent Controls'. Just imagine if all states and territories had them, people would be able to enjoy life better or save a deposit to buy their own home.
@ausstockchick You do realise there are others who buy property. Families trading up, others downsizing. People relocating with work, returning back to the market or couples separating etc. The type of sales expected in a normal market. This has been forgotten due to the obsession of investing.
@Potstirrer111 My rent is increasing from $820 to $910 per week, around 11%. This happened before the budget so absolutely nothing to do with the announcement and more to do with the interst rate hikes and USA War. Our landlord is actually great, it is the rental agents I don't trust.
@ausstockchick Yet people wonder why businesses are failing, people not going out to cafe's, bars, restaurants, buying luxuries. Most people are paying most to rent a place and survive. Property owners may be asset rich but cash poor. High price property is not good for the country.
@ausstockchick There are rentals, they don't disappear if the markets cooling. Hopefully the investors will sell and renters will buy to become owner occupiers. No investors, less demand may even see prices drop, like they should.
@ausstockchick Do you realise that the average person is having to make a choice against enjoying a visit to to the local cafe, pub or restaurant or pay for their rent, mortgage and bills. Before the ridiculous rise in property life was better, greed of people has got us to this point in time.
@Potstirrer111 Change is needed to STR airbnb properties. NG needs to removed from ALL STR property listed as entire entities. There could be some exemptions for those on the land of the owner, such as in rural locations. If not, it will see a growth of new property as STRs
@ausstockchick Yet the term 'Mum and Dad Investors' was thrown around for years to make people feel guilty. Perhaps even you may have used the term before.
The sooner the political class admits it made a huge mistake with migration, as they have in Britain and Canada, the sooner we can start repairing the utter mess they have made both socially and economically.