Australia housing bubble

[roKWiz]

Originally Posted by prydey

I admit that is a very simplistic view and a bit idealistic but the point remains.

Don't worry, I think the same way but it can be construed differently by others.

[Mercury Bullet]

Originally Posted by davenl5l

Your kids dont pay your pension YOU DO. Every worker in Australia pays 7.5% of gross pay into a pension fund. This is on top of your super. DONT believe the pollies they have redirected this money into general revenue

Agree with this 100%.

I am sick to death of pollies telling us we are stealing our kids future. Bullspoo, I've been paying tax for 40 years ffs.

[b0son]

Originally Posted by davenl5l

Your kids dont pay your pension YOU DO. Every worker in Australia pays 7.5% of gross pay into a pension fund. This is on top of your super. DONT believe the pollies they have redirected this money into general revenue

Next you'll be telling us you know what really happened to Harold Holt...

The National Welfare Fund was rolled into Consolidated Revenue in the 50s. It was a con from day one... the government campaigned on the basis of no taxes, they then created the welfare fund so they would technically be keeping their promise as the money was going to be going straight back to taxpayers in the form of social security. The reality was that only 12.5% of the money raised was directed to welfare, the rest was actually used to fund the war effort.

[asagaai]

Originally Posted by davenl5l

Your kids dont pay your pension YOU DO. Every worker in Australia pays 7.5% of gross pay into a pension fund. This is on top of your super. DONT believe the pollies they have redirected this money into general revenue

The reality is the government (Fed and State) have used all the taxes you have paid, and through mismanagement and pork barrelling payments to keep in government- have been running successive deficits - ie debt- that this country is responsible for.

It is a bit of a sophist argument to say that if you have paid taxes you will not be a burden when in future you go on pension. At that time- who is paying for the money that funds the pension- the taxpayers at that time- both individuals and corporations.

You can argue that you have paid taxes and therefore are entitled to a pension. But this misses the point- the pollies have squandered the taxes you have paid and have not safely allocated it away as an investment to fund your retirement on the pension.

That burden will fall to the people who are taxpayers when you draw down on a government pension. The same people who have huge HECS debts and have a mountain to climb to acquire property in the big cities, given property prices and the increasing trend towards part time employment outstripping full time employment.

And the national debt will keep getting bigger as the pollies will not do anything to annoy/alienate the vote of a growing sector of the voter base- ie the retirees pulling a pension on the tab of the then taxpayers.

[GT0132]

Originally Posted by Franco Cozzo

I'm a wog

My cousins lived with their parents into their 30s until they got into their first houses in Melbourne - why would you rent and pay off someone elses mortgage if you can live at home with the folks?

Thats the way we do it.

Thats the way I'm going to do it

At the rate I'm going I'll probably inherit the parents house first to be honest

Mate that's what I admire about the Greeks and Italians - family is very important to them and most don't have a problem having 3 or more generations in the one place.

[roKWiz]

Originally Posted by Mercury Bullet

I don't care, I own my own house and owe nobody nothing.

I know lots of people in Perth who have bought investment properties there and are currently being burnt big time. Most of them thought they were buying a money tree, problem is there's no-one to water it.

I'm with you Mercury, the problem is everyone want to be a middle man these days. Sitting back at the café checking all their portfolio's barking orders at the staff no doubt.

[Franco Cozzo]

Median house price close to 7 figures - no one can afford so buy so buy out in the South Eastern suburbs and use the M1 Freeway to go to and from work - toll road:



1 hour 20 min delay Monday-Friday for a toll road while it takes 2+ hours to go to your house you can barely afford mortgage payments on in Dandenong only 30km away from work in Melbourne where your house gets broken into every second week by Africans - but it only cost $600K.

Or you might be one of the lucky ones and live where I do 62km from work in Melbourne where our highway is free and our houses only cost $450K!



Except we're all currently doing 0KM/H out of the 100 permitted.

#mostliveablecity

[FairmontGS]

Originally Posted by Franco Cozzo

Median house price close to 7 figures - no one can afford so buy so buy out in the South Eastern suburbs and use the M1 Freeway to go to and from work - toll road:

image

1 hour 20 min delay Monday-Friday for a toll road while it takes 2+ hours to go to your house you can barely afford mortgage payments on in Dandenong only 30km away from work in Melbourne where your house gets broken into every second week by Africans - but it only cost $600K.

#mostliveablecity

Yeah yeah yeah. Whinge excuse whinge excuse

And you're being racist!

[Franco Cozzo]

Originally Posted by FairmontGS

Yeah yeah yeah. Whinge excuse whinge excuse

And you're being racist!

Last time I checked the truth doesn't have to be nice!

Melbourne is overrated, is Adelaide taking refugees from Melbourne? I might apply!

You can buy houses over there for like $13

If enough of us wog sorts come over at least the coffee will improve

Could be worse - could be paying $1,250,000 for your 1 bedroom asbestos shack in Mt Druitt which for some reason is about half way to the moon from Sydney CBD but still 'Sydney'

[FairmontGS]

Originally Posted by Franco Cozzo

Could be worse - could be paying $1,250,000 for your 1 bedroom asbestos shack in Mt Druitt which for some reason is about half way to the moon from Sydney CBD but still 'Sydney'

Quality costs old son

Wot Chairman Keating said - "If you're not in Sydney you're camping out"

[Beastie]

Why not just buy an entire town...

https://www.news.com.au/finance/real...1f280906684192

[buggerlugs]

Originally Posted by FairmontGS

Quality costs old son

Wot Chairman Keating said - "If you're not in Sydney you're camping out"

I'll happily camp out thanks...............

[chrisandsharon]

Originally Posted by Franco Cozzo

Could be worse - could be paying $1,250,000 for your 1 bedroom asbestos shack in Mt Druitt which for some reason is about half way to the moon from Sydney CBD but still 'Sydney'

Geezuz I gota see this - surely not. Is there a link to this shack

[jpblue1000]

Originally Posted by chrisandsharon

Geezuz I gota see this - surely not. Is there a link to this shack

Originally Posted by Franco Cozzo

Could be worse - could be paying $1,250,000 for your 1 bedroom asbestos shack in Mt Druitt which for some reason is about half way to the moon from Sydney CBD but still 'Sydney'

Pfft.
I just signed up for a $1.514million 2 bedroom apartment 16983km's from sydney. Its a socking commute!

JP

[chrisandsharon]

Originally Posted by jpblue1000

Pfft.
I just signed up for a $1.514million 2 bedroom apartment 16983km's from sydney. Its a socking commute!

JP

What’s that got to do with Mt Druitt jp

[jpblue1000]

Originally Posted by chrisandsharon

What’s that got to do with Mt Druitt jp

Nothing...but a joke, Mt druitt, expensive, like how far away from Sydney, high prices, context, location, location, locat...you think sydney is expensive...oh dont worry!

JP

[chrisandsharon]

Originally Posted by jpblue1000

Nothing...but a joke, Mt druitt, expensive, like how far away from Sydney, high prices, context, location, location, locat...you think sydney is expensive...oh dont worry!

JP

Watch ‘Housos’ jp - that’s Mt Druitt, let me know if the 1.514 million you spent is
in Sunnyvale 16000km away. I grew up in Western Sydney hence my post ‘surely not’.
I get the high prices etc etc, Sydney is not alone.....watch Housos.

[zipping]

https://www.domain.com.au/news/nsw-b...h11kha-440629/

Sydney’s slowing property market is set to make a whopping dent in the state government’s coffers due to a massive reduction in stamp duty revenue.

The state stands to lose a total of $6 billion in revenue between last financial year and mid-2021, according to significantly revised stamp duty revenue figures in this year’s NSW budget, thanks to house prices coming off the boil in mid-2017.

[GT0132]

Originally Posted by zipping

https://www.domain.com.au/news/nsw-b...h11kha-440629/

Sydney’s slowing property market is set to make a whopping dent in the state government’s coffers due to a massive reduction in stamp duty revenue.

The state stands to lose a total of $6 billion in revenue between last financial year and mid-2021, according to significantly revised stamp duty revenue figures in this year’s NSW budget, thanks to house prices coming off the boil in mid-2017.

Sure but then they had a gain they didn't predict during the boom.

Also because the average house price has increased by around 40% in the last boom the stamp duty the government receives on every house sold is now 40% more than what it was 5 years ago.

[Iggle Piggle]

Originally Posted by Franco Cozzo

...Melbourne is overrated, is Adelaide taking refugees from Melbourne? I might apply!

You can buy houses over there for like $13

If enough of us wog sorts come over at least the coffee will improve
...

Let me know if this looks like happening so I can invest in concrete pillars and concrete lions...or just concrete I guess. Usual wog 'landscaping' supplies.

Seriously, I love Radelaide for cost of living and commuting (but then I no longer work in the CBD). We used to joke peak hour was when all 5 cars were on the road at once, but does seem to be noticeably busier these days the few times I need hit the city in peak hour (busy by Adelaide standards).

[zipping]

new private business investment is just 11.7 per cent of GDP, which is lower than the rate which prevailed during the economically hostile Whitlam years

Something to keep in mind

[XB GS 351 Coupe]

Originally Posted by FairmontGS

Wot Chairman Keating said - "If you're not in Sydney you're camping out"

I like camping out then, I just came back from Sydney 20 minutes ago, it's a **** hole, I would not live there if they gave me a free house, and I am not even kidding about that, my quality of life is worth more than a free house in a rats nest.

[GasoLane]

Originally Posted by XB GS 351 Coupe

I like camping out then, I just came back from Sydney 20 minutes ago, it's a **** hole, I would not live there if they gave me a free house, and I am not even kidding about that, my quality of life is worth more than a free house in a rats nest.

I'm living in a free house in Syd (for a little while) Ronald Macdonalds place

[.:4:.]

Originally Posted by GasOLane

I'm living in a free house in Syd (for a little while) Ronald Macdonalds place

Is that where I think you are talking?

[GasoLane]

Originally Posted by .:4:.

Is that where I think you are talking?

Umm, yeah. Westmead, I'm here with my Granddaughter.

[.:4:.]

Originally Posted by GasOLane

Umm, yeah. Westmead, I'm here with my Granddaughter.

So we are on the same page. It's good that you get some relief, Ronald doesn't invite just anybody to stay, but I'm sure the circumstance is still not the best. My son has spent many a night next door over the years.

[au350hp]

Hope all works out for you both, and give that Hamburglar a good kicking if you see him lurking around

[Franco Cozzo]

Originally Posted by Iggle Piggle

Let me know if this looks like happening so I can invest in concrete pillars and concrete lions...or just concrete I guess. Usual wog 'landscaping' supplies.

Seriously, I love Radelaide for cost of living and commuting (but then I no longer work in the CBD). We used to joke peak hour was when all 5 cars were on the road at once, but does seem to be noticeably busier these days the few times I need hit the city in peak hour (busy by Adelaide standards).

I had to do an emergency delivery for work to a customer in the SE Suburbs of Melbourne yesterday, I'm based inner Northern suburbs of Melbourne, we're within 5km of CBD.

It took me 55 minutes to drive about 22km to Moorabbin in the South East leaving at 2PM, on the way back I got stuck for 15 minutes doing 6km/h going from the Westgate Freeway to the Bolte Bridge onramp.

Seriously though me and a work colleague were looking at house prices around the Northern suburbs of Adelaide, what you can get for $350-$400K is nuts 3 and 4 bedroom houses with massive covered outdoor entertainment areas and its a 20-25 min drive to the Adelaide CBD.

I'm aware that may be Adelaide's Broadmeadows

[BENT_8]

Originally Posted by Franco Cozzo

Seriously though me and a work colleague were looking at house prices around the Northern suburbs of Adelaide, what you can get for $350-$400K is nuts 3 and 4 bedroom houses with massive covered outdoor entertainment areas and its a 20-25 min drive to the Adelaide CBD.

I'm aware that may be Adelaide's Broadmeadows

Shhh..theres nothing to see here

[Franco Cozzo]

Give it a decade and you'll have toll roads and city stopping traffic jams