Australian Politics Forum - We owe $4.8 trillion

Sir lastnail

Gold Member

Offline

Australian Politics

Posts: 30088
Gender: male

Re: We owe $4.8 trillion
Reply #225 - Jan 7^th, 2013 at 10:34pm

John Smith wrote on Jan 7^th, 2013 at 10:29pm:

Bobby. wrote on Jan 7^th, 2013 at 10:16pm:

John Smith wrote on Jan 7^th, 2013 at 9:49pm:

http://au.news.yahoo.com/today-tonight/consumer/article/-/15778049/housing-price...

something to think about .... I hate myself for doing it, but I'm going to agree with Longlooser ... rent a house for 40 yrs and at the end of that 40 yrs you've got nothing except maybe an eviction notice when the pension doesn't cover the rent .... buy a house today at $500 000 and in 40 yrs you'll have something ... no matter what happens in the meantime, property values crash etc, long term you cannot loose.

My day bought a house 40 yrs ago for $15 000 ... same house is now worth approx. $300 000 .... in the meantime whoever was paying rent for 40yrs paid off dads mortgage.

Sure - I bought my own place & it's nice now not to have to pay rent or a mortgage.
Still - I know of others who haven't & have done very well by investing money in other ways.

sure, some can do very well if they are smart enough, but they tend to be the exception and not the rule ... I actually work in the property market and a good deal of tenants move to cheaper premises as soon as they retire, not by choice, but more out of necessity.

Especially so where I am on the gold coast .. highest rent in Qld ... how can a retired person pay in excess of $400 week in rent indefinitely? Even those with a sizable super payout get scared when they start to think their payout may have to sustain them for possibly 20 to 30 yrs, and they move to a cheaper area because they decide they cannot afford to take the risk .

Why do you think we have these small towns in poo holes where no one wanted to go 20 yrs ago, suddenly full of retired people? Don't believe the hype it's not the lifestyle .. it's the cheaper rent that attracts them

overinflated property prices means high rents !! the bubble should be obvious !!

Back to top

In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.

IP Logged

John Smith

Gold Member

Offline

Australian Politics

Posts: 74520
Gender: male

Re: We owe $4.8 trillion
Reply #226 - Jan 7^th, 2013 at 10:39pm

Sir lastnail wrote on Jan 7^th, 2013 at 10:34pm:

John Smith wrote on Jan 7^th, 2013 at 10:29pm:

Bobby. wrote on Jan 7^th, 2013 at 10:16pm:

John Smith wrote on Jan 7^th, 2013 at 9:49pm:

http://au.news.yahoo.com/today-tonight/consumer/article/-/15778049/housing-price...

something to think about .... I hate myself for doing it, but I'm going to agree with Longlooser ... rent a house for 40 yrs and at the end of that 40 yrs you've got nothing except maybe an eviction notice when the pension doesn't cover the rent .... buy a house today at $500 000 and in 40 yrs you'll have something ... no matter what happens in the meantime, property values crash etc, long term you cannot loose.

My day bought a house 40 yrs ago for $15 000 ... same house is now worth approx. $300 000 .... in the meantime whoever was paying rent for 40yrs paid off dads mortgage.

Sure - I bought my own place & it's nice now not to have to pay rent or a mortgage.
Still - I know of others who haven't & have done very well by investing money in other ways.

sure, some can do very well if they are smart enough, but they tend to be the exception and not the rule ... I actually work in the property market and a good deal of tenants move to cheaper premises as soon as they retire, not by choice, but more out of necessity.

Especially so where I am on the gold coast .. highest rent in Qld ... how can a retired person pay in excess of $400 week in rent indefinitely? Even those with a sizable super payout get scared when they start to think their payout may have to sustain them for possibly 20 to 30 yrs, and they move to a cheaper area because they decide they cannot afford to take the risk .

Why do you think we have these small towns in poo holes where no one wanted to go 20 yrs ago, suddenly full of retired people? Don't believe the hype it's not the lifestyle .. it's the cheaper rent that attracts them

overinflated property prices means high rents !! the bubble should be obvious !!

you've got it the wrong way around .. one thing determines rent and one thing only ... demand. ... you pull a million people out of the property market as owners, you add 1 million to the rental market and push up rent anyway.

The price of the property does not determine the rent, although the rent can determine the price of the property.

Back to top

Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.

IP Logged

Sir lastnail

Gold Member

Offline

Australian Politics

Posts: 30088
Gender: male

Re: We owe $4.8 trillion
Reply #227 - Jan 7^th, 2013 at 11:07pm

John Smith wrote on Jan 7^th, 2013 at 10:39pm:

Sir lastnail wrote on Jan 7^th, 2013 at 10:34pm:

John Smith wrote on Jan 7^th, 2013 at 10:29pm:

Bobby. wrote on Jan 7^th, 2013 at 10:16pm:

John Smith wrote on Jan 7^th, 2013 at 9:49pm:

http://au.news.yahoo.com/today-tonight/consumer/article/-/15778049/housing-price...

something to think about .... I hate myself for doing it, but I'm going to agree with Longlooser ... rent a house for 40 yrs and at the end of that 40 yrs you've got nothing except maybe an eviction notice when the pension doesn't cover the rent .... buy a house today at $500 000 and in 40 yrs you'll have something ... no matter what happens in the meantime, property values crash etc, long term you cannot loose.

My day bought a house 40 yrs ago for $15 000 ... same house is now worth approx. $300 000 .... in the meantime whoever was paying rent for 40yrs paid off dads mortgage.

Sure - I bought my own place & it's nice now not to have to pay rent or a mortgage.
Still - I know of others who haven't & have done very well by investing money in other ways.

sure, some can do very well if they are smart enough, but they tend to be the exception and not the rule ... I actually work in the property market and a good deal of tenants move to cheaper premises as soon as they retire, not by choice, but more out of necessity.

Especially so where I am on the gold coast .. highest rent in Qld ... how can a retired person pay in excess of $400 week in rent indefinitely? Even those with a sizable super payout get scared when they start to think their payout may have to sustain them for possibly 20 to 30 yrs, and they move to a cheaper area because they decide they cannot afford to take the risk .

Why do you think we have these small towns in poo holes where no one wanted to go 20 yrs ago, suddenly full of retired people? Don't believe the hype it's not the lifestyle .. it's the cheaper rent that attracts them

overinflated property prices means high rents !! the bubble should be obvious !!

you've got it the wrong way around .. one thing determines rent and one thing only ... demand. ... you pull a million people out of the property market as owners, you add 1 million to the rental market and push up rent anyway.

The price of the property does not determine the rent, although the rent can determine the price of the property.

According to Steve Keen there vis little correlation between house prices and immigration levels causing supply shortages. I wonder if that applies to rents contrary to what you say ?

Back to top

In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.

IP Logged

perceptions_now

Gold Member

Offline

Australian Politics

Posts: 11694
Perth WA
Gender: male

Re: We owe $4.8 trillion
Reply #228 - Jan 7^th, 2013 at 11:15pm

John Smith wrote on Jan 7^th, 2013 at 9:49pm:

http://au.news.yahoo.com/today-tonight/consumer/article/-/15778049/housing-price...

something to think about .... I hate myself for doing it, but I'm going to agree with Longlooser ... rent a house for 40 yrs and at the end of that 40 yrs you've got nothing except maybe an eviction notice when the pension doesn't cover the rent .... buy a house today at $500 000 and in 40 yrs you'll have something ... no matter what happens in the meantime, property values crash etc, long term you cannot loose.

My day bought a house 40 yrs ago for $15 000 ... same house is now worth approx. $300 000 .... in the meantime whoever was paying rent for 40yrs paid off dads mortgage.

Yes John, I understand your comment and we did something similar, having bought our first place back in 1975, for $22,000, fully furnished.

We kept that property for some time, then traded up to another, for just over $100,000, before finally selling that in early 2009, for $535,000.

That was shortly after I retired & we then bought a smaller place, as the kids have long since left and we don't need anything particularly large, BUT it will be sufficient for the remainder of our years.

However, whilst all of that has been past experience,
the fact is that the period ahead will not be a repeat of the past!

The fact is, that like Economics in general, Demand & Supply is what has driven R/E Pricing in the past & the same thing will drive future Pricing, EXCEPT the major Driving factor in R/E has now start going into Reverse, that being Population Growth.

If you take a look around, at countries like Japan, others including the USA & some countries in Europe, where the rate of Population Growth has slowed, THEN it is apparent that Housing Prices will not bounce back to the Growth rates of the last 40-50 years.

In fact, the OZ R/E market looks set to follow the trends already set in Japan, the USA & Europe, which means they will head down, over the next 30-40 years.

How much & when, I would not guess, but it seems apparent the future trends will not follow the past!

Back to top

IP Logged

Sir lastnail Gold Member Offline Australian Politics Posts: 30088 Gender:	Re: We owe $4.8 trillion Reply #229 - Feb 12^th, 2013 at 8:09pm Have you heard the latest news ? According to longloser house prices have gone up but who's paying the interest on the 1.3 trillion of housing debt ?
Back to top	« Last Edit: Feb 12^th, 2013 at 8:25pm by Sir lastnail » debtclock.gif (38 KB \| 35 ) In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”. IP Logged

Bobby. Gold Member Offline Australian Politics Posts: 104670 Melbourne Gender:	Re: We owe $4.8 trillion Reply #230 - Feb 12^th, 2013 at 8:22pm Hear hear Nail, Longy has a whole thread spruiking house prices. http://www.ozpolitic.com/forum/YaBB.pl?num=1360626805/56#56 he's a loser.
Back to top	IP Logged