The Wasteland - ACT Style

[Anfanee]

Yep....it's disgusting. I can't wait until they (those in power making decisions based on their own interests) are old and decrepit, expecting the current younger generations to look after their incapable vegetative selves.

Well, I'd offer you my spare room old mate, but it just so happens I STILL DON'T OWN A HOUSE thanks to your short-sighted greed. Unrucky.

Says the dude with a 50K+ car.

Stop complaining.

[Trozzle]

I was waiting for you to say something lol

It's not that I can't afford a house. I definitely can. I'll be the first to admit I'm paid exorbitantly for my position. But we all know that's not my point at all.

[Anfanee]

Well it is the point.

Housing affordability is not an issue in Australia. It has been blown way out of proportion by the media. Supply vs demand, it's simple maths.

[Sinista32]

In that vain they should build shite loads of houses so Supply greatly over powers the demand.

[Trozzle]

But when you have one person with multiple houses to themselves only available as rental properties, along with Chinese (and many other foreign nationals; I understand the "Chinese" problem is blown up a bit), it's hardly fair.

I won't argue with supply vs demand; I will argue why the 'supply' side of the fence is a complete crock of bullshit though.

And it's funny how the media were originally spinning as many stories as they could regarding why 'now is the time to buy', but have recently started running stories the complete opposite (for most of the country at least).

Perth property listings highest in history. Sydney auction clearances down from 90% to 50%. Sale AND rental prices (bar the 'f**ked' places like Syd and Melb) are actually dropping, no matter how you play the stats (this was a previous 'prop it up' story - "prices rose X% in the last quarter" while neglecting to mention that's below the rate of inflation.

Edited October 2, 2015 by Trozzle

[Trozzle]

In that vain they should build shite loads of houses so Supply greatly over powers the demand.

They are lol. They really really are. Too many cashed up investors and not enough people simply wanting to be an owner-occupier. More incentives needed for first time buyers and owner-occupiers, less incentives for the greedy pricks with multiple properties...I suppose living in one and renting out the other is ok, but more than 2 and you're just a greedy flamin mongrel lol....well, if you're negatively gearing the second at least

Edited October 2, 2015 by Trozzle

[Anfanee]

In that vain they should build shite loads of houses so Supply greatly over powers the demand.

That's exactly what they are currently doing. Though the issue is no one wants to live where the land is. Everyone wants to live near the city.

[Anfanee]

They are lol. They really really are. Too many cashed up investors and not enough people simply wanting to be an owner-occupier. More incentives needed for first time buyers and owner-occupiers, less incentives for the greedy pricks with multiple properties...I suppose living in one and renting out the other is ok, but more than 2 and you're just a greedy flamin mongrel lol....well, if you're negatively gearing the second at least

Hardly need more incentives for first home buyers

$12000 and no stamp duty is good enough.

[Anfanee]

They are lol. They really really are. Too many cashed up investors and not enough people simply wanting to be an owner-occupier. More incentives needed for first time buyers and owner-occupiers, less incentives for the greedy pricks with multiple properties...I suppose living in one and renting out the other is ok, but more than 2 and you're just a greedy flamin mongrel lol....well, if you're negatively gearing the second at least

So what are people supposed to do if they have spare cash?

Be realistic.

[Trozzle]

I won't have this discussion here and now. Don't have time, and it's going to be an 'agree to disagree' thing, particularly given you've got your own place and have a very different perspective on the matter as a result.

[Sinista32]

what do you mean they are

so houses are cheap - Pffft

[cpark]

Well if you'd picked up a property or two in western Sydney a year or so ago under $400k you could have made a packet then sold it by now to buy another property in say Canberra or elsewhere more affordable. Not all bad news unless you want to live in Sydney.

[GTRKat]

I think it's f**king greedy expecting hand outs and incentives to buy a house. I love your generation Troy!

Work hard, save up and use what you have.

Life is all about the choices YOU make.

[Trozzle]

I think it's f**king greedy expecting hand outs and incentives to buy a house. I love your generation Troy!

Work hard, save up and use what you have.

Life is all about the choices YOU make.

I'm getting mixed vibes from this.

[GTRKat]

It's not intended to be mixed.

Just the sense of entitlement blows me away. Why should someone give you an incentive to buy a house.

Then you call people with multiple properties greedy. You have no idea how hard they may have worked to get in that position.

[RosieR34]

We played against one of them at a LAN event down there in ACT and he carried the team really f**king hard haha. We would have won the whole event if he wasn't there. He dropped like 45 frags or something stupid like that.

Yeah man, I use to run the Canberra LANs - really fun place and the iM fellow is pretty sharrrrrrrp. I always outperform at LANs though and competitive matches (Not TMM)....I missed the last comp - my m8 who was going to enter our team didn't haha.. oh well Sounds like you had fun though.

[Trozzle]

That's what I thought you were getting at.

I don't expect any incentives - they just go to the seller anyway, and in no way make up for the inflation on the price.

We wouldn't be "entitled" if we didn't have reason to feel hard done by when it comes to our generation and home ownership.

Expecting the taxpayer to foot the bill on a business you knew was going to lose money somehow isn't also considered entitled? More so even? Coz that's what negatively gearing an investment property is, and that's where the problem lies. Piss off first home buyer incentives and get rid of any and all tax breaks and loopholes that are responsible for negative gearing, and I'll be happy. I don't need a hand out when things are a little fairer regarding income to house price ratio.

Edited October 2, 2015 by Trozzle

[Trozzle]

Oh also if my way of thinking makes me entitled, I don't know what to say. I'm honestly one of the least entitled people I know with a list to back the claim lol

[GTRKat]

Well that contradicts what you said earlier.

The consequences of doing away with negative gearing will be quite high. It can't and won't be simply a step of just taking it away. I'd presume your rent would go up for one thing.

As was pointed out, things are fair it's just that everyone expects a palace near the city for their first home. They also expect expensive cars and holidays. People now want everything.

[RosieR34]

I want a Bugatti.