Director
Yes Ive owned investment properties and I tell ya even with a good rent its hard to make them pay. You get a lot of adds that say oh this is a 6% return on investment. What a load of BS. That is before tax, before rates, insurance, maintenance etc.
Imo property is only good if you buy in when it is low and hang onto it for at least ten years. There is of course lots of exceptions to that rule.
Having been through the ringer with investment property I would not go anywhere near Shortens property for refugees, what numbskull would do that?? The only way it could happen is if the government gave big tax rightoffs and big rebates otherwise it is a loss making exercise.
I can just imagine tiny little boxes all made of ticky tacky piled one on the other with little infrastructure to support them.
When I was a kid the housing commission houses were a fairly normal size perhaps a bit smaller and most of them were on big blocks of land say around at least 700sm up to about 1/4 acre. There were a lot of them around in those days. They also built a whole large suburban block of houses for the indigenous people just down the road where I lived as a kid. They lasted all of about 18 months before most of them were destroyed. Tax payers money up in smoke, literally in some cases.
These politicians are beholden to their agenda supplied by donors and other organisations. They try and wrap it up to make it look appealing to the public and pretend they are working for the betterment of the people but imo they are simply not. To me its just recycled crap coming out of a corporate organisation.
Im guessing all the die hards will be voting lab or lib again next year.
