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Oh dear - crocodile tears. I think you've forgotten to mention...

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13,512 Posts.

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10/12/21

06:54

Post #: 58202276
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Originally posted by Hingdog ↑

There might be some foreign investors like the Chinese who hide capital here who are willing to just buy and hold a property without renting it out but that would account for little imo

The situation is going to get worse though as greedy Labor govts put all sorts of extra taxes and red tape onto landlords. Here in Victoria landlords are seen as wealthy cows for the govt to milk, land taxes are increasing massively due to "bracket creep" i.e with rising property prices and no adjustments made to the land tax brackets, the cost to a landlord is becoming astronomical. New laws preventing landlords from banning pets add more costs, new laws requiring annual electrical and gas safety checks add more costs, water rates have gone through the roof over the past decade, council rates have sky rocketed etc etc etc. I've sold up and am moving my capital into the stock market where not only do I get a much better return I don't have the greedy govt stealing a big portion of that return ... consider a rental return of under 2% with a big part of that taken by the govt before even considering income taxes vs an index ETF paying 4 - 5% with no costs and better capital gain if you can time it. I'm sure I won't be the only one leaving the rental property market and this will lead to less properties available for rent and prices will have to go up even more.

Well done greedy lefties

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Oh dear - crocodile tears. I think you've forgotten to mention the 100's of percent of unearned capital gains!
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