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RENTS need to go much higher, page-4

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Grant64t

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31/05/23

14:49

Post #: 68058515
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Originally posted by blueballs: ↑

there is a limit people can afford to pay unless landlords will allow more people in each property

To make the metrics better house prices need to reduce

I saw a place sell for 5.5 mill where I live last year, it’s on the rental market at $2500 per week
Yield not even 2.5%
Repayments 6%
Why should tax payers have to make up the difference via negative gearing losses

Now if the house which was worth 3 mill 3 years ago was purchased for 3 mill now the yield would be fair

So rather than keep putting rates up(there is a limit to what people can pay and this money is all removed from the economy) we should be finding ways to reduce house prices

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I recently rented a property out a few months ago & was astounded at what some of the incomes that families are bringing in.

Also astounded at how many couples were rorting the system with the husband on large fortnightly pay but still the partner still bringing 100% of all entitlements including full jobseeker allowance.

THE WHOLE SYSTEM IS BROKEN, with some doing the right thing but many completely rorting the system.

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