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Never underestimate the greed of shareholders.
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Jun 12, 2018 10:05
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A housing price crash is good because it is one of the final steps in De-Howardizing our economy. The old pillars must fall in a post mining boom era so that vines may grow into mighty stalks of renewable energy which can revive manufacturing, Energising new housing supply which will certainly be influenced by the micro-homes of China and Japan which will revitalise construction industries and ultimately old boomer investment homes will be knocked down to make room for greener housing. I'm sick of the suburbs being polluted with WWII era energy inefficient homes unable to be knocked down because of the investors who own them.
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Jun 12, 2018 10:15
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https://www.smh.com.au/national/nsw/powerhouse-documents-show-ultimo-sell-off-plans-20180612-p4zkxn.html https://www.theguardian.com/australia-news/2018/jun/12/powerhouse-museum-will-double-entry-fees-at-parramatta-site There's some articles on the Powerhouse documents. Apparently all the important bits are redacted. There are plans for an office, apartments, bar, restaurant and theater on the Darling Harbour site. All will be privately owned except the theater which'll be on a 99 year lease to a private operator. There were plans for big apartment and office towers on top of the museum in Parramatta but the articles disagree on whether they'll be built. The museum will cost over twice as much as they thought it would and the planetarium, which the plan apparently depends upon, will cost 34 bucks to get into in addition to the museum entry price of 15. A fashion and art museum will survive at Darling Harbour, but I can't tell who they're renting the building from, the government or a company? SMH posted:A "do nothing" option where the Powerhouse was kept at Ultimo was architecturally modelled but not "utilised for the purposes of the economic and financial analysis". Does this mean they didn't compare any of the proposed move plans to a plan of keeping the museum in the same place? Sounds legit
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Jun 12, 2018 10:32
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My first car was a stick
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bell jar posted:I meant like the real estate industry. In my eyes home owners fall under the investor category I'd rather not be lumped in with the rent-seeking parasites that are investors
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Jun 12, 2018 10:35
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bandaid.friend posted:Does this mean they didn't compare any of the proposed move plans to a plan of keeping the museum in the same place? Sounds legit As I'm sure you are aware, that's pretty much standard practice for big government projects. Pick the option you want then construct some bullshit modelling and options to prove you are choosing the best option. Burn the entire system to the ground imo.
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Jun 12, 2018 10:43
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bell jar posted:I meant like the real estate industry. In my eyes home owners fall under the investor category That's an odd way of looking at things.
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Jun 12, 2018 10:46
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racing identity posted:It will actually be extremely bad for everyone when the housing bubble bursts you brain geniuses not me i just bought a place and its value is only going to go up like bitcoin 
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Jun 12, 2018 11:05
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GoldStandardConure posted:not me i just bought a place and its value is only going to go up like bitcoin In smoke?
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Jun 12, 2018 11:08
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Periphery posted:As I'm sure you are aware, that's pretty much standard practice for big government projects. Pick the option you want then construct some bullshit modelling and options to prove you are choosing the best option. Burn the entire system to the ground imo. Yeah I was concerned about reading what I expect to read from a sentence I don't really comprehend
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Jun 12, 2018 11:09
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how many times am i going to have to tell you mob of poo poo corellas. we are founding a kibbutz in broken hill nsw and we'll all wait out the end of the world in shared misery and disharmony
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Jun 12, 2018 11:10
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loving unbelievable
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Jun 12, 2018 11:10
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"a bloo bloo bloo, i can't deliver a breech lamb, bloo bloo the sheep eats the placenta bloo" well guess what fucker. women eat placentae too
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Jun 12, 2018 11:11
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hooman posted:In smoke? that's from the insurance fraud fire The life of G S Conure is insured for a surprisingly large amount.
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Jun 12, 2018 11:11
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barnaby has promised me his investment in my kibbutz in return for a blowjob, but i plan to assassinate him with my poison fangs
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Jun 12, 2018 11:12
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GoldStandardConure posted:that's from the insurance fraud fire I'm still surprised you can't take out speculative life insurance on other people.
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Jun 12, 2018 11:13
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Doctor Spaceman posted:That's an odd way of looking at things. buying a home is an investment. not really a stretch to call someone who makes an investment an investor
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Jun 12, 2018 11:34
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On a related note if I hear a variation on the phrase "just paying someone else's mortgage" again I might snap. I need a home that works for me to live in not perfectly min maxed finances. If I get coffee from a cafe I'm ultimately paying someone else's mortgage too but nobody made an advertising campaign on that one yet.
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Jun 12, 2018 12:09
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Rent money is dead money.
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Jun 12, 2018 12:10
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bell jar posted:buying a home is an investment. If you're buying a house because you need somewhere to live (rather than buying to rent out or to sell at later date) it's not really an investment. You can see this in the way that the law treats primary residences as a special case for things like CGT or land tax.
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Jun 12, 2018 12:19
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Jun 12, 2018 12:22
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i built me an investment yurt
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Jun 12, 2018 12:23
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Question to anyone reading: Did going through your parents divorce make you feel like you don't want to have children?Birdstrike posted:i built me an investment yurt Was it a hexayurt?
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Jun 12, 2018 12:38
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Jun 12, 2018 12:49
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I would blow Dane Cook posted:Question to anyone reading: Did going through your parents divorce make you feel like you don't want to have children? I still wanted kids, someday. My two siblings got turned off to the idea, though. Ironically now I'm probably 100% infertile and my mum's distraught at the idea of never having grandkids so welp
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Jun 12, 2018 12:51
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Doctor Spaceman posted:Only in a broad, metaphorical sense. i'm a filthy rent payer so i don't really know about any of that stuff. if you buy to live for life, you're still investing but i suppose its more an investment of time than money!
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Jun 12, 2018 12:56
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I would blow Dane Cook posted:Question to anyone reading: Did going through your parents divorce make you feel like you don't want to have children? That made me realise how two people can stick it out even when they hate each other. But not having kids is really the only moral choice - it’s all climate change, insecure housing and fukt economy from here on out. I feel like bringing a kid into all this is unfair on the kid.
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Jun 12, 2018 12:59
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I invested in funko pops
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Jun 12, 2018 13:00
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They are making a Gears of War funko pop game.
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Jun 12, 2018 13:13
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I would blow Dane Cook posted:Question to anyone reading: Did going through your parents divorce make you feel like you don't want to have children? No, but it did make me feel like you should probably only do the whole marriage thing if you're pretty sure and don't have warning klaxons going off in your mind, up to and including on the day of the wedding. Feel free to read  into it though because I can feel myself getting clucky af these days out of nowhere. I'm sure if I actually found myself pregnant it'd be a whole different story.
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Jun 12, 2018 13:18
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Lmao US television anchor bumped into the most well-known perth underworld figure in singapore during her live stream. https://www.facebook.com/greta/videos/2158767734138075/
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Jun 12, 2018 14:13
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gucci bane posted:Lmao US television anchor bumped into the most well-known perth underworld figure in singapore during her live stream. Is he just banging out his entire mental catalogue of fox news stories?
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Jun 12, 2018 14:20
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JBP posted:Is he just banging out his entire mental catalogue of fox news stories? Yeah lol
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Jun 12, 2018 14:27
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Like don't get me wrong I hate boomers and rent seeking fucks as much as the next belligerent Marxist around here, but two points: If you think people don't have the right to own their own home affordably and not have it taken away by the banks because said banks, the government and property developers colluded to turn real estate into a massive Ponzi scheme well then that's a tad spiteful. I bought a fixer like 45km out of Perth in a dying former industrial slum because I wanted somewhere I could actually make holes in poo poo and not worry about some entitled boomer taking my home away. You deserve that right too. We should definitely be gearing up to protect young and vulnerable home owners from any impending crash, rather than getting your smug on because you (understandably) can't afford a home. Point two: super has only been around since the Keating era and baby boomers have been hitting retirement with a lot less than you or I ideally would. So while baby boomers are an entitled bunch of fucks, be careful making any assumptions about their super. My mum has like 30k more than I do and I've only really been earning a steady wage since 2007. Anyone not willing to downsize their house to supplement it can get hosed though.
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Jun 12, 2018 14:37
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When I get old I'll downsize to a home theatre room with a hammock in it.
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Jun 12, 2018 14:40
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JBP posted:When I get old I'll downsize to a home theatre room with a hammock in it. and a lawn for a toilet?
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Jun 12, 2018 14:58
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JBP posted:When I get old I'll downsize to a home theatre room with a hammock in it. I could deal. GSC is right though, you want a combination AV plant room/shitter. The commercial grade rack amplifier doubles as a space heater!
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Jun 12, 2018 15:11
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Don Dongington posted:If you think people don't have the right to own their own home affordably and not have it taken away by the banks because said banks, the government and property developers colluded to turn real estate into a massive Ponzi scheme well then that's a tad spiteful. I agree that people should be protected from an impending crash, but to a degree, and depending on why people are exposed or vulnerable. I think one of the key functions of government should be to provide a safety net to ensure that, at a minimum, people don't wind up homeless and dying on the streets. That said, it can't absorb all the risk from people making investments, which is what a property is, whether it's long-term (i.e. you plan to live in it for 50 years) or short (i.e. flip dis bitch next week for cash dollaz). People absolutely have the right to own their own home affordably and not have it taken away, and should be able to do so. However, the key word there is "affordably". If we're in a bubble right now (which most people agree we are), and people can't afford to buy right now, then guess what, tough poo poo, you can't afford to buy right now. Nobody has a God-given right to own a home when or wherever they want, no matter how much the media pushes the narrative of the Great Australian Dream which says people should do that. People don't understand the difference between being able to buy something, and being able to afford it. Financial literacy is undoubtedly below what it should be, but if you're going to take on a major investment like a house, you should probably try to learn a little, and if you still can't understand it, hire a financial planner to either teach or make decisions for you. If people are intentionally misrepresenting their income and fraudulently seeking and receiving loans, then I'm extra fine with them getting hosed over in a crash. I don't want them to wind up destitute and on the streets, but yeah, gently caress those people, especially if they're purchasing multiple properties and planning to pay them all off through rent, which contributes to the lack of supply and affordability issues which drive prices up. Young homebuyers are a myth, at least in Melbourne. Vulnerable ones? My sympathy hinges on why they're vulnerable. If they've been taken advantage of through predatory banks and lenders (who absolutely exist, don't get me wrong), then yeah, that's poo poo. Those who figured "gently caress it, it'll work out", or lied to even get the mortgage/s in the first place? I'm fine with those people facing actual consequences. Realistically our best case scenario is a market cooling and gradual readjustment, but I have no idea how you'd go about trying to engineer that one.
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Jun 12, 2018 15:54
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The drop is going to be brutal to the overall economy when it comes, and I don't think the market can hold out another 5 years. With that being the case it's best if it happens soon while the Libs are still in power, because if the inevitable fall in house prices comes after Labor are in power it will be held over them for a generation.
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Jun 12, 2018 16:25
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The issue with super is that the retail funds are cracking the sads because the industry funds are doing well by not scamming their customers. Something something unions bad etc. This won't stop the government from trying to figure out a way to steal the money from the good funds to pay for the massive cost of the boomer demographic hump, so be warned.
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Jun 12, 2018 21:16
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I'd be more than happy for the bank to cop all (or some) of the loss, so that people who live in homes they own get to stay there. There's no sense in evicting people from where they live regardless of circumstance. But if you don't live there and you own it, better hope you can afford those repayments  Ideally we'd transition to a society where the concept of private land ownership is frowned upon but haha good luck making that happen. There's too much money in transferring assets that only appreciate in value through speculation
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Jun 12, 2018 22:19
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