Property prices starting to unwind...

Originally posted by furniture ↑

I am lucky cause l can buy the 750k house and just rent it out and use other rental to make up shortfall however when l do business l like to do it without relying on my current situation and honestly cant see why anyone starting out would want to buy if you are actually better renting
I mean take away rates ...repairs ..ins...water service etc easily saves you 20k a year plus
Okay its not an issue when you buy for 500 and 2 years later you sell for 750 but figures dont lie for anyone that owns nothing in 2018 they are better renting as the likelyhood of another 60 to 80k a year appreciation seems impossible as who the hell will buy the damn things
Not saying opporrunities dont exist just pity my kids in fact pity myself more as l will be most likely housing them forever
The business is very lucrative for governments and councils l agree stuff the rest
Problem now is the aud as a low dollar just brings more overseas buyers and makes our costs here higher
Amazing to think 20 years back l bought a house as an app cab maker for 57k...much prefer those days even if l was poor back then there was an abundance of opportunity
Obviously my current situation is great but a highly doubt a kid now at 20 will 20 years later on be debt free and pick and choose what to do
Very sad as a father of 4 kids and another one on the way
So if l buy 750k and sell for 550k the government foots the 200k loss that l can off set from other income
Its sad to say but l dont see prices dropping much as the biggest losers would be the governments
Spare a thought for the poor guys who live on the street or in cars breaks my heart would love to win big so could help plenty people

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Re people living in cars / Cavan parks or streets is so more prevelant than people realise and agree makes me angry and worst still is councils are more than happy to help by making many places no parking zones? Just to help out. We live in a much sader society than 30 / 40 years ago and re house price I bought my first when 23 and for $108 thousand with all the flash and overcapitalised to the hilt when in same area you could buy house for $40 grand, I was earning close to 36 grand a year and getting 16% interest from bank, problem is I just didn’t know how good I had it and if was smart would have bought a house virtually with a years salary so I laugh when people tell me it was harder back then???? I remember going to accountant and he advised not to buy rental properties as said you have a good super with company I was working with and why would you want the grief from tenants of which sadly made sense? Lol maybe that’s why I don’t trust advisors/accountants and apologise to any I may be offending as is my issue not a reflection of you. like I say just didn’t know how good or easy I had it and wonder how the hell the govt has got the the country in this position. My simple mind still doesn’t get how we went through the biggest mining boom pre gfc and ended up broke, wow that about covers the level of competency of people in charge.