news. sydney properties fall in half , page-15

Well said gbx....

Some pretty warped views in here!

I don't see how borrowing money to buy a house, and then leasing it out for LESS then you have to repay, is greedy. The person renting the property could go and get a mortgage and be paying twice as much. But no, the home vendor takes the risk and makes the long term commitment. If that same vendor can benefit from shouldering the costs of the house ten or twenty years down the track, well and good, and why shouldn't they get some reward? I don't see this as being any more sinister or greedy then any number of ways one may try and get ahead in the long run.

Another point, everyone talks about affordability and the fact that everyone should be able to afford a roof over their heads. THEY CAN! People seem to think it is a God given right to be able to own property within 15km of a capital city, whilst still in their 20's and maybe raising a kid. It just isn't plausable. I am on about the average wage, and have half a house in the suburbs with my sister, a house in regional Victoria, and rent a CBD apartment. I am broke all the time. But I have a roof over my head, AND some investment properties. I don't actually know that I would call it an affordability crisis? I mean really! If I can do those three things on my wage, surely most people can at least get one roof over their head. They just might have to catch a train for 45 mins to work, something I was doing for the last 4 years.

It is all a bit of a fricken sook if you ask me. We hide behind our supposed civil rights and moral high ground at times to twist an agenda. If you need a place to live and don't earn a lot of money, just live further from the city. That's the way it is. You can still have a house!