Similar to here in the 60s 70s and 80s being able to rent purchase your housing trust home/unit. You can tell by the front yard who has personal "pride" as a renter or owner.
I completely renovated a 1970s 3x1 in 2019/20 and was intending on re renting (a great yield still) but I couldn't be bothered in updating again cosmetically in 10 years and resigning tenants so sold as offer was too good to refuse. I remember paying market value in 2005 and friends who didn't understand were scratching heads then...
Im still invested in other properties. Rents continue to rise. 15 years ago was tough going. Then kids, full time daycare at $900 per week. How we functioned for 10 years with young kids still frightens me now!!!
Now as those loans are gone/tiny redraw. Rent and dividends are my income. Yes I pay my fair share of tax, my capital gains for that year payed for 10 pensions even with all appropriate deductions.
Would I buy a house today? You bet, as long as I was planning to live in for 10 years or more which is normally the case.
I don't see any astonishing growth over next 10 years. There is nothing wrong with a stale market when you're in for the long haul. That's what wackett doesn't and will never understand.
I'm not here to change their mind. My kids will be buying in 10 years so less in the market the better!
