Solutions to House Price and Rental Crisis??(Ideas), page-229

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Bunn-Wackett

24,871 Posts.

1421

28/05/23

06:22

Post #: 67998520
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Originally posted by $$$$$$$$: ↑

Most rental houses have had the same owner for many years if not decades,
They purchased far cheaper than those who bought at the top.

The problem is they all want to charge as much as a Brand New House costs to Buy in the Area,
For their run down 20+ Year Old Houses that are not new,
Have old style layouts and,
Are simply not worth anywhere near what a new House is worth.

Some of these rental Houses in Brisbane for example,
Were purchased for $40-$60K,
Yet they are charging as much in rent as what it would cost to service a $400K + Loan.

It is not up to Renters to pay off Someone elses House,
The Landlord should realise that they should have to pay something for their House,
That they get to own,
Not get taxpayers to Pay for Negative Gearing for an Asset the Landlord ends up with.

If they cannot afford to Pay ANYTHING toward the House they end up owning,
The Poor should not subsidise their Greed.

Not only that but hugely positively geared properties should be heavily taxed on the positive gearing,
As well as having to pay back every cent they received of Tax Payers Money in the form of negative gearing.

To many Landlords are getting Hand-Outs,
Overvaluing their properties and just being outright greedy.

Houses going from 1.5x Average Wage to 15x Average wage,
All within one generations lifetime,
Made them all feel like property geniuses.

They were / are not,
It was policies such a Negative Gearing,
Mass Migration,
Tax Breaks, Etc.
That propped up House Prices for decades to Buy their Vote.

This was done at the detriment to ALL other Australians....

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doesn’t the share market return 7% pa over a long period of time? work the compounding of those returns out over 50 years and compare it to a return on investment property.
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