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#1921 | |||
FF.Com.Au Hardcore
Join Date: Sep 2014
Location: A.C.T
Posts: 1,569
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Quote:
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2022 Honda HRV e:HEV in Premium crystal red. |
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#1922 | ||
DIY Tragic
Join Date: Apr 2018
Location: Sydney, more than not. I hate it.
Posts: 21,851
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What do the jury here, see as likely order of consumer self-restraint events and corporate opportunism?
Will “forever homes” not be flipped within so few years? Will people keep their phones longer or go onto three year lease plans? What about recreational equipment - sell the caravan or pool it in some small town facility that sub-leases them as holiday stays? Will the ARBs of the world bring out a new range of cheaper gear that has the looks without the beef, satisfying most real (non) applications of the gear? What about Uber or Amazon offering an all-in-one running finance model that covers online purchases of fares, goods, food? Maybe IKEA will offer a trade-in or lease option… |
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#1923 | |||
BANNED
Join Date: Jul 2012
Posts: 2,886
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Quote:
Though you've crawled into your little hole by saying it's only mortgages since last year....(6 months ago)... ![]()
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#1924 | ||
FF.Com.Au Hardcore
Join Date: Sep 2014
Location: A.C.T
Posts: 1,569
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You really are a fool.You obviously have no grasp of basic economics.What I have quoted is correct.There is no ‘burden’ of proof on me, I have given it you fool.
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2022 Honda HRV e:HEV in Premium crystal red. Last edited by hackney; 08-06-2022 at 07:18 AM. |
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#1925 | ||
FF.Com.Au Hardcore
Join Date: Sep 2014
Location: A.C.T
Posts: 1,569
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RBA fact:”the overall share of borrowers with a loan six or more times their income & a buffer of one month minimum repayments has declined since the pandemic, to just below 1%”.
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#1926 | ||
DIY Tragic
Join Date: Apr 2018
Location: Sydney, more than not. I hate it.
Posts: 21,851
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Are there any benefits in holding an incomplete residential development at this stage? I ask seriously, as I struggle to fathom what’s going on with some of what I see.
Around me in suburbia, there are four incomplete dual occupancy developments. One has gone for approaching three years of stop-start construction, and although appearing finished is not eligible for its Occupancy Certificate. Another is similarly appearing complete after eighteen months but experiencing ongoing dribbles of rework and remediation. A job started last October is progressing slowly and one commenced in December is - so far - racing along. It’s the cheapest build but I think will be on market first. At prior sales pricing this is $15-$19M of unrealised gross income across all projects. I assumed that interested parties would be really keen to recoup their portion but it seems only one is. But as I mentioned, especially in light of any benefits to investors with overseas connections, is there any logic in what’s going on - or have they just combined ineptitude and slow reactions to mis-time their market position? |
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#1927 | |||
Former BTIKD
![]() Join Date: Mar 2005
Location: Sunny Downtown Wagga Wagga. NSW.
Posts: 53,197
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Quote:
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Dying at your job is natures way of saying that you're in the wrong line of work.
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#1928 | ||
FF.Com.Au Hardcore
Join Date: Sep 2014
Location: A.C.T
Posts: 1,569
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We could indeed if he was kicked!
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#1929 | ||
WT GT
![]() Join Date: Jan 2006
Location: The GSS
Posts: 17,759
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When we get back to ~ 7% for mortgages and 5% for interest on savings then equilibrium will be restored.
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#1930 | ||
FF.Com.Au Hardcore
Join Date: Sep 2014
Location: A.C.T
Posts: 1,569
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Absolutely!
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#1931 | ||
FF.Com.Au Hardcore
Join Date: Jun 2013
Location: Adelaide
Posts: 1,601
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Nobody under 35 has had to deal with expensive interest rates, I remember in the early 00’s when I got married, we had a mortgage and TWO car loans, my mum went nuts saying we were overextended when she made do with the same XD wagon family car for 18 years.
Fast forward and it’s worse, every family member has a new car,JetSki,boat, the latest tv, $100/month iphone27, Bali holiday twice a year and designer clothes, but they can’t afford an increase in their mortgage. They will learn that prioritising expenses does not mean you are below the poverty line.
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#1932 | |||
FF.Com.Au Hardcore
Join Date: Sep 2014
Location: A.C.T
Posts: 1,569
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Quote:
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#1933 | ||
T3/Sprint8
![]() Join Date: Jan 2005
Location: Australia
Posts: 16,339
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Hey lets not be so black and white on people today over extending themselves.
Our ol days people were just as guilty works both ways. Recall when "Bankcard" was first introduced, just like today I saw people spending above their means, just like their mortgages. Human trait no matter the gen. Nobody under 35yrs ? heck I'd push that to mid 40yrs of age at least.
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Tickfords T3/TS50 '02 Sprint8 manual Sept 24 '16 Daily Macan GTS "Don't believe everything you read on the internet. Abraham Lincoln" |
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#1934 | ||
Bolt Nerd
![]() Join Date: Jan 2005
Location: Ojochal, Costa Rica (Pura Vida!)
Posts: 14,616
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Current vehicles.. Yamaha Rhino UTV, SWB 4L TJ Jeep, and boring Lhd RAV4 Bionic BF F6... UPDATE: Replaced by Shiro White 370z 7A Roadster. SOLD Workhack: FG Silhouette XR50 Turbo ute (11.63@127.44mph) SOLD 2 wheels.. 2015 103ci HD Wideglide.. SOLD SOLD THE LOT, Voted with our feet and relocated to COSTA RICA for some Pura Vida! (Ex Blood Orange #023 FPV Pursuit owner ![]() |
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#1935 | ||
FF.Com.Au Hardcore
Join Date: Apr 2005
Location: Canberra
Posts: 13,374
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You can't throw out the high interest rates without considering income to property values. This is constantly not considered along with job security which is a lot different now.
You have to save more than the growth in prices which is ****en hard. I ended up in a townhouse which is really great after a long time looking because of my expectations where I'd otherwise be in a free standing house if I didn't **** around. It's ridiculous though because I paid $430k for that and I could probably expect between $700-800k for if I sold that in a tad under 5 years. Zero improvements for it except for paint, carpet and curtains < $20k. Luckily for me I'm earning nearly $30k more than when I bought it and rates have gone down but it quickly brought me back to earth on how much I ****ed up the wall ![]() This **** won't effect me much at all but my mum who paid the same high interest rates reckons it's a lot harder now. |
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#1937 | ||
DIY Tragic
Join Date: Apr 2018
Location: Sydney, more than not. I hate it.
Posts: 21,851
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I believe Mitchay has an important point in highlighting job security. It perhaps doesn’t matter when capital growth is raging along but if that drops back, one may be left more anxious than expected.
And for all the doom talk, why is nobody game to call what personal expenditure cuts Joe and Sally Schmoe are actually going to make first? My personal guess is putting off service events - contract gardening, car repairs, professional home maintenance. |
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#1938 | ||
FF.Com.Au Hardcore
Join Date: Apr 2005
Location: Canberra
Posts: 13,374
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Another thing is workforce casualisation. On top of that there was a natural succession and progression when I got my first job in 2001 or 2002. Back then you could get any job you wanted. Even in the supermarkets now it's changed a whole heap.
Part of my own problem is I can't move up and there is no one to train up. I have made this clear to executives for years! It's lazy to suggest to that young people aren't doing their best and that is true to some extent but even those who are can't get ahead. |
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#1939 | |||
Where to next??
Join Date: Oct 2006
Location: Sydney
Posts: 8,893
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Quote:
And there is generally always a line of cars.
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___________________________ I've been around the world a couple of times or maybe more....... |
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#1940 | |||
Where to next??
Join Date: Oct 2006
Location: Sydney
Posts: 8,893
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Quote:
Figure that one out if you will....
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___________________________ I've been around the world a couple of times or maybe more....... |
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#1941 | |||
Virtuous Bogan (TM)
![]() Join Date: Jan 2005
Location: TAS
Posts: 27,559
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Quote:
When times are tough they are the cheapest going around, when times are good people eat it more than they should...win win. Its scary how much cheaper it is to "feed" a family there than the local fish and chip shop.
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#1942 | ||
FF.Com.Au Hardcore
Join Date: Apr 2005
Location: Canberra
Posts: 13,374
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Cold called again by LJ Hooker. Told them to **** off
![]() What I don't know is if there are too many people wanting a place and they need supply or they are desperate for listings. |
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#1943 | ||
DIY Tragic
Join Date: Apr 2018
Location: Sydney, more than not. I hate it.
Posts: 21,851
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I understand there is a genuine shortage of independent accommodation in many places with a healthy local economy. Can you covertly make your garage into a granny flat?
It’s jarring to know of multiple empty houses while people are scratching for a place. Some states protect renters better post-sale (eg, Tasmania is more stringent than NSW) but at the end of that buffer period - ordinary people are literally being given a raw deal. |
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#1944 | ||
WT GT
![]() Join Date: Jan 2006
Location: The GSS
Posts: 17,759
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There's quite a few empties around here (Inner West) that have been for lease for months. There's also some nice units down the street which have always been empty because the people who own them live in HK and Singapore and don't need the money.
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#1945 | ||
Virtuous Bogan (TM)
![]() Join Date: Jan 2005
Location: TAS
Posts: 27,559
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Dont even start me on that!
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#1946 | ||
FF.Com.Au Hardcore
Join Date: Jun 2013
Location: Adelaide
Posts: 1,601
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Did a job down south today, had to go thru some struggle street suburbs to get there. One thing that stood out was the number of caravans and campers set up in peoples front yards semi permanently. One yard had 2 blokes camping with all their belongings, so not on holidays. This must be the result of the crazy rental market at the moment.
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#1947 | ||
BANNED
Join Date: Jul 2012
Posts: 2,886
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How many islands do you own?
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#1948 | ||
FF.Com.Au Hardcore
Join Date: Oct 2014
Location: Newcastle
Posts: 1,782
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Ford Rides: Ford Fiesta ST Mk 8 -daily- closest thing to a go kart on road for under 50K FG X XR8 smoke manual - Miami hand built masterpiece by David Winter, BMC Filter, JLT Oil separators, Street Fighter Intercooler Stage 2, crushed ball, running 15% E85 and 85% 98- weekender |
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#1949 | ||
If it ain't broke........
![]() Join Date: Dec 2007
Location: Sunshine Coast Qld
Posts: 18,536
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#1950 | ||
DIY Tragic
Join Date: Apr 2018
Location: Sydney, more than not. I hate it.
Posts: 21,851
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That’s easy. A pelican! …Normal programmes resume shortly.
Roads outbound were chockers earlier yesterday than normal for a Friday, so whatever fiscal restraint people are feeling or claiming is still being substantially suspended. |
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