Register a SA Forums Account here!
JOINING THE SA FORUMS WILL REMOVE THIS BIG AD, THE ANNOYING UNDERLINED ADS, AND STUPID INTERSTITIAL ADS!!!

You can: log in, read the tech support FAQ, or request your lost password. This dumb message (and those ads) will appear on every screen until you register! Get rid of this crap by registering your own SA Forums Account and joining roughly 150,000 Goons, for the one-time price of $9.95! We charge money because it costs us money per month for bills, and since we don't believe in showing ads to our users, we try to make the money back through forum registrations.
 
  • Locked thread
SMILLENNIALSMILLEN
Jun 26, 2009



kirbysuperstar posted:

Did Christensen hit his head during the week or some poo poo?

boosting his profile with idiots, nationals leadership is about to come up for grabs

Adbot
ADBOT LOVES YOU

drunkill
Sep 25, 2007

me @ ur posting
Fallen Rib
27 and counting...


But anyway, this one is better

https://twitter.com/GhostWhoVotes/status/965173706006777861

drunkill fucked around with this message at 15:05 on Feb 18, 2018

Synthbuttrange
May 6, 2007

Oh good we’re at ‘my wife thought it was a good idea!’ Stage of idiocy

Synthbuttrange
May 6, 2007

Abc’s new stance:

Both those for and against a company tax cut are wrong

gay picnic defence
Oct 5, 2009


I'M CONCERNED ABOUT A NUMBER OF THINGS
Greg Jericho pointed out that various other ABC journalists have written the exact same thing tax cuts as Alberici but I guess she chose to do it when the LNP is campaigning hard to win support for so it was a big no no

Anidav
Feb 25, 2010

ahhh fuck its the rats again
An article in the ABC telling the RBA to lower interest rates so we are in a neutral position when the US stock market crashes again.

But Joe I don't think they can go any lower

birdstrike
Oct 30, 2008

i;m gay

Anidav posted:

An article in the ABC telling the RBA to lower interest rates so we are in a neutral position when the US stock market crashes again.

But Joe I don't think they can go any lower

interest rates need to rise to go back to neutral

The Before Times
Mar 8, 2014

Once upon a time, I would have thrown you halfway to the moon for a crack like that.

Birdstrike posted:

interest rates need to rise to go back to neutral

can't do that unless wages go up and debts go down lol

Anidav
Feb 25, 2010

ahhh fuck its the rats again

Birdstrike posted:

interest rates need to rise to go back to neutral


Aunty posted:

Our banks and many of our corporations raise cash offshore through bond markets, and higher global market interest rates will quickly flow through to us.

It's likely our banks will pass on those higher borrowing costs, which would put enormous strain on our hugely-indebted household sector.

That, in turn, could put pressure on the Reserve Bank to cut official rates here, just so that we are left in a neutral position.

Should that happen, the premium Australia traditionally has enjoyed over American interest rates — which has buoyed our currency — will become a thing of the past.

Our paths already crossed last week, an event largely ignored but hugely significant.

Adjustment is never easy. But it's almost always necessary.



Cut them to zero lol.

Dimebag
Jul 12, 2004
I did wonder last week how Katherine Murphy was going to skew the polling results and welp it's a beauty. After arguing that Malcolm being ahead in Prefered PM was a sign of a strong start to 2018, this week she has just chosen not to include any mention of his 5 point fall in her article today.

birdstrike
Oct 30, 2008

i;m gay

Dimebag posted:

I did wonder last week how Katherine Murphy was going to skew the polling results and welp it's a beauty. After arguing that Malcolm being ahead in Prefered PM was a sign of a strong start to 2018, this week she has just chosen not to include any mention of his 5 point fall in her article today.

quote:

While most of the Newspoll movements are within the survey’s margin of error, the controversy of the past fortnight has coincided with a five-point drop in Turnbull’s approval rating.

???

Dimebag
Jul 12, 2004

That's embarassing, I even read it twice and must have glanced over that part both times. My only excuse is that it was the paragraph right next to a Tony Robbins targeted ad and I am wondering what I clicked on that's served me that.

Cartoon
Jun 20, 2008

poop

Dimebag posted:

That's embarassing, I even read it twice and must have glanced over that part both times. My only excuse is that it was the paragraph right next to a Tony Robbins targeted ad and I am wondering what I clicked on that's served me that.
In fairness that was reportage not 'arguement' or indeed analysis.

-/-

Guns don't kill people jokes do. His timing right when the US has finally turned the corner on gun control can only be referred to as a belly flop.

You Am I
May 20, 2001

Me @ your poasting

Birdstrike posted:

interest rates need to rise to go back to neutral

Interest rates need to go back to early 90s 15% rate, just to hear the collective making GBS threads of pants around the mortgaged to the hilt suburbs in Australia :devil:

Senor Tron
May 26, 2006


Cartoon posted:

Guns don't kill people jokes do. His timing right when the US has finally turned the corner on gun control can only be referred to as a belly flop.

Haha.

There are a lot of pissed off people and we might see this translating into something a decade from now (although I doubt it) but in the short term nothing is going to change over there except for the occasional downtick in the size of the youth population.

Gridlocked
Aug 2, 2014

MR. STUPID MORON
WITH AN UGLY FACE
AND A BIG BUTT
AND HIS BUTT SMELLS
AND HE LIKES TO KISS
HIS OWN BUTT
by Roger Hargreaves

I mean Christensen is clearly in the worng and is being a giant dickwad but gently caress the number of people getting cranky at the QPS who have stated multiple times they're investigating and following legal advice is staggering. What do they want? Them to swoop in and toss him in a watch house?

E: also just gonna get in before someone calls me on it. Yeah I have an obviously QPS biassed view.

Gridlocked fucked around with this message at 00:50 on Feb 19, 2018

birdstrike
Oct 30, 2008

i;m gay

Gridlocked posted:

What do they want? Them to swoop in and toss him in a watch house?

:thermidor:

Don Dongington
Sep 27, 2005

#ideasboom
College Slice
Whatever it takes to get him thrown out of parliament and shamed out of the public eye, I'll take one, thanks.

BBJoey
Oct 31, 2012

imagine how good it will feel when christensen has a heart attack

MysticalMachineGun
Apr 5, 2005

You Am I posted:

Interest rates need to go back to early 90s 15% rate, just to hear the collective making GBS threads of pants around the mortgaged to the hilt suburbs in Australia :devil:

Hi I'm not mortgaged to the hilt and don't own any investment properties but we're on one wage with a child and another on the way so gently caress off forever, thanks

I would blow Dane Cook
Dec 26, 2008
https://twitter.com/GChristensenMP/status/965168565467758597

Lol barnaby retweeted this.

G-Spot Run
Jun 28, 2005
Without being a dick and wishing ruin on your family, you're in a privileged position to get or maintain a mortgage on one income when a family home typically takes double income now and it should also come as no surprise that people who aren't in that position need the market to change. That almost necessitates current owners getting hosed just a lil bit. Ideally it only fucks property investment portfolio types but someone who did nothing wrong is getting stooged eventually.

MysticalMachineGun
Apr 5, 2005


Channel 9 in rare "good decision" shocker

MysticalMachineGun
Apr 5, 2005

G-Spot Run posted:

Without being a dick and wishing run on your family, you're in a privileged position to get or maintain a mortgage on one income when a family home typically takes double income now and it should also come as no surprise that people who aren't in that position need the market to change. That almost necessitates current owners getting hosed just a lil bit. Ideally it only fucks property investment portfolio types but someone who did nothing wrong is getting stooged eventually.

Exactly this, actually. I'd love to see interest rates go up and punish rent-seeking parasites but since they're almost certainly making good money they'll just sell up and move on. It's people struggling to pay their one mortgage that would get turbofucked by 15% interest rates.

I realise I'm in a privileged position but it's also a position of not living in the states where house prices have gone completely bananas. Living in SA I expect to make a loss on this house if we ever sell, but we've bought it to live in, not to flip for a profit.

MysticalMachineGun
Apr 5, 2005

What I'm trying to say in a very mealy-mouthed fashion is that I expect to lose a few tens of thousands on this house in the long run (as a combination of over-paying and the bottom of the market falling out eventually) but if some poor sap is paying a horrendous mortgage just so they don't have to commute 2 hours each day from Western Sydney or what have you they could stand to lose hundreds of thousands, while the guy who got bankrolled by his parents to buy 20 investment properties will just sell up and look for the next opportunity.

G-Spot Run
Jun 28, 2005
I think that's a bit simplistic still, because the portfolio owners have to sell to a market and take a loss per property that would scale with the size of their portfolio. They won't be homeless but the argument goes that neither will the owner occupier, because they will do everything to repay and the bank will do everything to help them pay to avoid also 'buying' their loss if they foreclose and also have to sell an over mortgaged property to the declining market.

edit: I am unclear on the remainder of the mortgage issue if you declare bankruptcy. Maybe the bank has no loss, only admin overhead and insurance paperwork, or maybe they just take you for it regardless of the bankruptcy.

G-Spot Run fucked around with this message at 01:51 on Feb 19, 2018

birdstrike
Oct 30, 2008

i;m gay
what if house prices relative to wages could fall without exorbitant interest rates fattening bank profits?

what if...



stop negative gearing? yass king! slay king!

Solemn Sloth
Jul 11, 2015

Baby you can shout at me,
But you can't need my eyes.
What if....wage growth went up

Box of Bunnies
Apr 3, 2012

by Pragmatica
what if we nationalise all housing and guillotine the rentiers

Don Dongington
Sep 27, 2005

#ideasboom
College Slice
I have a mortgage on one-and-a-bit incomes. We bought 45km out of the city, in one of the cheapest suburbs in WA. I think it's the 3rd most disadvantaged suburb south of the river. It's the kind of place where the push all the state housing so it doesn't mess with anyone's investment portfolio. But we have a toddler, a baby on the way, 2 dogs and a cat, so renting would be out of the question here, where the regs overwhelmingly favour landlords.

So, while my mortgage is comparatively small, and our combined income is something like 140k, which is around the median; we have tonnes of discretionary debt from years past when I didn't earn a decent wage, when my partner or I had less secure work, and cars died or poo poo needed doing that we simply couldn't just save up for. This is apparently a widespread issue for people my age, and not surprising when you look at wage suppression and poor job security of the post-Howard era. We struggle to afford utilities and internet. Renting would probably be about the same for us, because 4 bedroom houses are rarer and cost a premium, let alone the pet issues. Losing value on the house isn't really an issue for us, because it's already dirt cheap and can't fall that far; but an interest rate rise of >5% would loving bollock us.

You can't just look at everyone with a mortgage and just assume they're inherently privileged. You shouldn't look at people wanting to have children or pets in their mid 30s a privileged, unless your'e some kind of sociopathic ideological purist idiot. We all know that housing affordability is a huge huge loving problem, but you can't just gently caress over everyone who moved out to the boonies so they could have some semblance of a family life before they're too old to enjoy it.

It would be way less damaging to take away negative gearing and capital gains discount, that make property investment the obvious choice to anyone with 100k to burn, and watch the massively inflated inner suburbs drift back to more affordable rates. Raising interest rates would only serve to knock off the casual investors and punish households, while people like Tophat will shrug and raise their rents, while buying up all the cheap property flooding the market.

Cartoon
Jun 20, 2008

poop

Senor Tron posted:

Haha.

There are a lot of pissed off people and we might see this translating into something a decade from now (although I doubt it) but in the short term nothing is going to change over there except for the occasional downtick in the size of the youth population.
'Turning the corner' after 200 years gives me about 200 years of wiggle room. Meanwhile the very vocal pissed off people will be substantially loud for the next few news cycles. Loud anti gun voices from Florida, USA are a pretty new phenomena. Sure the chances of any real change in the next couple of generations is probably slight but there is currently a pretty deafening roar.

bigis
Jun 21, 2006
Single income family reporting in. My wife is heavily pregnant on unpaid leave because she couldn’t get permanency as a teacher.

Hopefully she is ready to go back to work before we get turbofucked by interest rates.

Don Dongington
Sep 27, 2005

#ideasboom
College Slice

bigis posted:

Single income family reporting in. My wife is heavily pregnant on unpaid leave because she couldn’t get permanency as a teacher.

Hopefully she is ready to go back to work before we get turbofucked by interest rates.

She should get 12 weeks of paid maternity leave from the govt if she's on unpaid leave yeah? That's about 500 bux a week, not bad by any stretch.

Night Shade
Jan 13, 2013

Old School

G-Spot Run posted:

edit: I am unclear on the remainder of the mortgage issue if you declare bankruptcy.

Having a flick through the AFSA website on bankruptcy it looks like you spend up to three years bankrupt and if you haven't managed to cover the shortfall in that time, the mortgage is discharged and the bank is stuck with the loss.

Reads like the trustee is empowered to sell your house, your car if it's worth above some amount, and garnish your wages to pay off creditors during those three years.

Its pretty poo poo. It's very different what I have heard about parts of the US where if your mortgage goes under, you just hand the bank the keys and they're stuck with the loss.

G-Spot Run
Jun 28, 2005
I'm not saying interest rates are the correct way more addressing the gently caress you forever sentiment.

140k might not seem like much but you're doing well mate. I don't know what your bit is, but our bit is .6. At 1.6 we make roughly 2/3s what you do at 1.bit and we're much better off than we used to be.

Night Shade
Jan 13, 2013

Old School

Don Dongington posted:

She should get 12 weeks of paid maternity leave from the govt if she's on unpaid leave yeah? That's about 500 bux a week, not bad by any stretch.

500 before tax, and it's structured so it's paid via your employer and they take out PAYG. So more like 300.

I would blow Dane Cook
Dec 26, 2008


I think Barnaby has moved up the wedding date.

bigis
Jun 21, 2006

Don Dongington posted:

She should get 12 weeks of paid maternity leave from the govt if she's on unpaid leave yeah? That's about 500 bux a week, not bad by any stretch.

She doesn’t pass the work test unfortunately.

Pinball Jizzard
Jun 23, 2010

Don Dongington posted:

It would be way less damaging to take away negative gearing and capital gains discount, that make property investment the obvious choice to anyone with 100k to burn, and watch the massively inflated inner suburbs drift back to more affordable rates. Raising interest rates would only serve to knock off the casual investors and punish households, while people like Tophat will shrug and raise their rents, while buying up all the cheap property flooding the market.

The problem I find is that no-one can think outside the box on negative gearing. Removing it altogether would cause an almighty crash on house prices which would be devastating for the economy, leaving it in place will continue to have house prices rise. So how about; no negative gearing allowed on future purchases with the benefits tapering off over a 10 year period for existing negatively geared properties. This allows for a more gradual entry to market for those that would suffer under changed negative gearing rules, but also allow first-home buyers to compete on a more even field in the new build sector.

Personally I’d rather negative gearing stayed in play so the government can continue to pay off the capital on my property!

Adbot
ADBOT LOVES YOU

You Am I
May 20, 2001

Me @ your poasting

MysticalMachineGun posted:

Hi I'm not mortgaged to the hilt and don't own any investment properties but we're on one wage with a child and another on the way so gently caress off forever, thanks

bigis posted:

Single income family reporting in. My wife is heavily pregnant on unpaid leave because she couldn’t get permanency as a teacher.

Hopefully she is ready to go back to work before we get turbofucked by interest rates.


Pfft, breeders.

Pinball Jizzard posted:

The problem I find is that no-one can think outside the box on negative gearing. Removing it altogether would cause an almighty crash on house prices which would be devastating for the economy, leaving it in place will continue to have house prices rise. So how about; no negative gearing allowed on future purchases with the benefits tapering off over a 10 year period for existing negatively geared properties. This allows for a more gradual entry to market for those that would suffer under changed negative gearing rules, but also allow first-home buyers to compete on a more even field in the new build sector.

Personally I’d rather negative gearing stayed in play so the government can continue to pay off the capital on my property!


Solution: Nationalise the whole housing market. Soviet style or Brutalist housing blocks for all. Small flags for the kids. Do I really have to be the one who comes up with the solutions all the time? :v:

  • Locked thread