hooman posted:"People are ignoring the problems that I, a white straight male, have!" I think that is in fact what he is arguing, that there are more important things to worry about.
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# ? Feb 29, 2016 03:40 |
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# ? Apr 28, 2024 21:13 |
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Birdstrike posted:I think I agree Cartoon on that there's more likely to be an easing of house prices as opposed to a crash, but I am a bit unsure about where the difference lies. 10%? 25%? Also, the time frame it happens in matters. 25% over one or two years is a crash but over 10 years it's probably just a correction. The fact that Labors negative gearing changes are fully grandfathered further supports a correction over a crash. IMO the existing negatively geared properties should slowly have the current benefits eroded over a decently long period of time. Otherwise they have very little reason to sell the properties unless there are other financial factors that are forcing them to. Also, in the period before the changes come into effect there could be a increase in investors trying to get into the scam while the grandfathering is on offer. Of course, it's hard to say what negative gearers will do if the market stops going up and instead flat lines or slowly decreases. They rely on the capital gains to make money and if they can't see those gains being worth it then they might just sell and move their money to more profitable investment classes. The housing market is so stupidly complex with so many interlinked parts and drivers for supply and demand that it's incredibly hard to say what is going to happen. I will make a prediction that if any market (in Melbourne at least) is going to crash it will be the inner city apartment market. It's just a pity that most of those a loving horribly constructed and designed shoe boxes that most people wouldn't or shouldn't want to live in.
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# ? Feb 29, 2016 04:00 |
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HookShot posted:I think that is in fact what he is arguing, that there are more important things to worry about. I don't know, it reads very much "Gay rights are less important than road congestion" which is pretty offensive.
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# ? Feb 29, 2016 04:26 |
I dunno if no one is paying attention to the whole cardinal pell thing, but there's reports his security were assaulting journalists to stop them asking questions prior to the police video link.
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# ? Feb 29, 2016 04:27 |
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https://twitter.com/MarkDiStef/status/704145555530731520
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# ? Feb 29, 2016 04:36 |
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The LNP's use of the Brisbane City Council's branding image in the run-up to the 19 March municipal poll is "underhand, unethical and blatant cheating", the Greens' Lord mayoral candidate Ben Pennings says. And Mr Pennings slammed the council's administration for failing to protect its intellectual property, claiming it had "rolled over" to its political masters at City Hall. Under council rules, the council's distinctive pattern of alternating yellow and blue blocks down the left-hand-side of official council documents must not be used for political purposes. Team Quirk, led by Lord Mayor Graham Quirk, is repeating a tactic it used successfully in the 2012 poll by once again campaigning extensively with roadside billboards, footpath signs and letterbox and other printed material that contains a copycat council cleat that The Independent has argued for years is used for no other reason than to make voters think it is the official cleat and that Team Quirk therefore has some form of official support from council. "The LNP's use of Brisbane City Council's colours and cleating is underhand, unethical, and blatant cheating, Mr Pennings said in response to questions from The Independent. "They are attempting to very closely associate the LNP with the positive BCC brand, even to signify some sort of BCC support. "The LNP seem to increasingly see Brisbane City Council as their personal fiefdom. Political appointees and a 90 person strong marketing team keep the spin rolling, in what is now LNP branding. "Any other company in the world would fight tooth and nail to protect their brand. Brisbane City Council instead rolls over and accepts this appropriation by a political party taking it, and the voters, for granted."
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# ? Feb 29, 2016 04:42 |
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"So what you are saying, Mr Turnbull, is that young people should vote labor?"
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# ? Feb 29, 2016 04:42 |
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He keeps saying its going to lower the price of housing like its a bad thing.
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# ? Feb 29, 2016 04:42 |
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Is Turnbull putting a Marco Rubio and just repeating the same lowering pricing line robotically?
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# ? Feb 29, 2016 04:43 |
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Why the Coalition haven't come up with something to address housing affordability (even as a fig-leaf) is a mystery.
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# ? Feb 29, 2016 04:44 |
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I love how not only did he not answer the question, he not-answered it in a way that directly endorses his opponents' policy. A rare moment when a Malcolm response is actually even worse for the LNP than the theoretical Tony one.
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# ? Feb 29, 2016 04:44 |
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Anidav posted:Is Turnbull putting a Marco Rubio and just repeating the same lowering pricing line robotically? It's just LNP strategy. Look also at Abbott's tenure as opposition and PM - just repeat the same lines over and over again.
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# ? Feb 29, 2016 04:45 |
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tithin posted:I dunno if no one is paying attention to the whole cardinal pell thing, but there's reports his security were assaulting journalists to stop them asking questions prior to the police video link. drat, that's hosed up. Were they wearing those clown clothes when they did it?
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# ? Feb 29, 2016 04:55 |
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There's is actually another elephant in this room. Even though Sydney and Melbourne are going gang busters elsewhere in the country, that Turdball supposedly governs, prices are already going backwards. http://www.perthnow.com.au/realesta...32168a3b202ffdb quote:TOUGH TIMES: WA homeowners top national mortgage default list And that's just capitals. Commercial property values in regional areas have been down graded to as little as a third their 'boom' valuations. The general vibe from the real estate industry is that it's all still going OK, but they would say that. You look a little deeper and it's only areas that have some extraordinary lifestyle element going for them that are holding ground. The chief issue here is a lack of employment opportunities.
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# ? Feb 29, 2016 05:11 |
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But that's OK the LNP NSW Government has your back! http://www.abc.net.au/news/2016-02-29/nsw-government-considers-reducing-public-service-organisations/7206864 quote:Fears for public service jobs as NSW Government considers cut to number of state-run organisations By state political reporter Ashleigh Raper Updated about 5 hours ago It's all about jobs! And there being less of them.
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# ? Feb 29, 2016 05:24 |
"Vote for my opponent " -leader of incumbent party in an election year
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# ? Feb 29, 2016 05:30 |
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marginal seats are still dominated by people up to their eyeballs in mortgages who don't want to hear their property is going down in value and don't give gently caress one about anyone else.
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# ? Feb 29, 2016 05:33 |
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Anyone with a Crikey sub able to repost this story? - http://www.crikey.com.au/?p=536891 And also the latest Rundle, if you can. Cheers!
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# ? Feb 29, 2016 05:38 |
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Solemn Sloth posted:marginal seats are still dominated by people up to their eyeballs in mortgages who don't want to hear their property is going down in value and don't give gently caress one about anyone else. Yeah, young people don't have their parents to provide collateral for a loan are either going to vote for the LNP based on their racist refugee policies or vote against them for the same reason. No point pandering to people who are never going to vote for you anyway.
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# ? Feb 29, 2016 05:58 |
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Doctor Spaceman posted:Why the Coalition haven't come up with something to address housing affordability (even as a fig-leaf) is a mystery. They'll probably want to save that until closer to the election before releasing that. If it's designed to be ineffective (which it most likely will be) you don't want to give people too much time to pick holes in it.
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# ? Feb 29, 2016 06:09 |
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Cartoon posted:There's is actually another elephant in this room. Even though Sydney and Melbourne are going gang busters elsewhere in the country, that Turdball supposedly governs, prices are already going backwards. If the chief issue in those areas (Perth in particular) is the lack of jobs, could the results there provide a rough guide as to what would happen to the rest of the country in case of a recession that causes higher unemployment etc?
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# ? Feb 29, 2016 06:27 |
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Periphery posted:If the chief issue in those areas (Perth in particular) is the lack of jobs, could the results there provide a rough guide as to what would happen to the rest of the country in case of a recession that causes higher unemployment etc? Also I'm definitely not an expert in this area so I might not be the right person to consult on this in general.
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# ? Feb 29, 2016 06:35 |
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I feel like Adelaide is the largest that kind of disaster can get in Australia. Manufacturing was all that it ultimately had, so when all the factories shut up shop there's no reason for anything else to stay, either. Cities like Sydney and Melbourne don't have nearly the same kind of centralised industry, so while something big up and leaving would hurt, it's neither as damaging or as likely.
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# ? Feb 29, 2016 06:42 |
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What is the AFP doing in Parliament?
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# ? Feb 29, 2016 06:53 |
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Jumpingmanjim posted:What is the AFP doing in Parliament? I saw the headline on Sky News this morning. Apparently nothing (other than some sort of ongoing investigation). quote:The Australian Federal Police have denied executing a search warrant and on the Parliamentary Office of any Federal member of Parliament in the past two weeks and seizing any material. The Narrator fucked around with this message at 07:03 on Feb 29, 2016 |
# ? Feb 29, 2016 06:59 |
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Isn't your real estate market extra hosed once the Chinese go belly up anyway? Or is that just Canada's?
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# ? Feb 29, 2016 07:00 |
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There's a sizable investment pool of Chinese money in Australia but China going "belly up" will hurt a bunch of other things first. Our mining sector is already suffering. Realistically China going into even a shallow recession would spell disaster for the global economy.
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# ? Feb 29, 2016 07:04 |
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The impact on property prices of international investment is horribly overstated in the media. It only makes up about 12% of the total market at the moment with China making up something like 2%. While China dying could directly have an effect on house prices I think the overall negative economic consequences would have a greater impact on housing prices than the Chinese not buying our homes anymore.
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# ? Feb 29, 2016 07:19 |
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Periphery posted:The impact on property prices of international investment is horribly overstated in the media. It only makes up about 12% of the total market at the moment with China making up something like 2%. While China dying could directly have an effect on house prices I think the overall negative economic consequences would have a greater impact on housing prices than the Chinese not buying our homes anymore. It's one of those things that could go anywhere. Rental yields were less than the interest on term deposits a few months back so clearly people are in this for the capital gain when they sell rather than the ongoing income, and I wonder if this means that a small slide in demand that causes the price to plateau could trigger a wider sell-off as people start to question how much further the house prices will rise. Or maybe they'll just butt chug more koolaid and take out another mortgage because the only way is up up up.
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# ? Feb 29, 2016 07:26 |
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I wouldn't take his advice even if he answered the question. It's a dumb question to begin with. Politicians don't exist to give personal financial advice. Here's some good advice though: don't buy McMansions or any unit that is painted in swathes of bright colours to distract you from the fact it is a poorly constructed eyesore unless you want to lose a fuckton of money. Some of the brand new apartments I've seen recently are absolutely appaling. I went to see a place in Coogee recently and it had a man whole in the ceiling that literally went nowhere and a 950000 pricetag. I mean lol, loving lol. KingEup fucked around with this message at 07:41 on Feb 29, 2016 |
# ? Feb 29, 2016 07:36 |
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# ? Feb 29, 2016 07:39 |
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KingEup posted:I wouldn't take his advice even if he answered the question. It's a dumb question to begin with. Politicians don't exist to give personal financial advice. Are you in construction?
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# ? Feb 29, 2016 07:47 |
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Our Man In Rome, The Blot is eminently qualified to whitewash paedophiles.
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# ? Feb 29, 2016 07:54 |
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Jumpingmanjim posted:Are you in construction? No. Also, I am getting fed up with people talking about income relative to average house prices as though that's some kind of 'check mate, we're hosed'. The most recent ABS census data we have indicates that 90% of mortagees spend less than 30% of their income on repayments and that was when interest rates were triple what they are now.
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# ? Feb 29, 2016 07:57 |
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There's no problem guys, pack it up
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# ? Feb 29, 2016 08:05 |
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KingEup posted:No. All from http://www.rba.gov.au/publications/bulletin/2015/sep/pdf/bu-0915-3.pdf This shows that the rate of price growth is outstripping any relation to underlying value AND CPI This shows that the market has essentially hit saturation for what households can afford to spend on housing (30% of income is actually a pretty significant figure for housing see below). quote:The latest Australian Bureau of Statistics (ABS) Census data shows we are spending an average of $1,235 per month on rent or $1,800 on mortgage repayments. Mortgage and rent payments now consume about 20 percent of the average household budget, a percentage that has grown dramatically over the past few decades. Ten years ago, housing costs made up 17 percent of household spending, while 50 years ago that portion was just 8 percent. As well as housing itself, the cost of household bills has also risen, with Australians devoting 15.5 percent of their salary to phone, internet and power costs, spending an average of $633 each month. And really the kicker. For all the big numbers, volatility and uncertainty, the underlying 'profit' isn't actually that great (on average): We all know about the guy who sold their house that they bought in the eighties for $20, 000 and just made nearly a million dollars but that isn't everyone's story and it serves the real estate industry to advertise 'the guy'.
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# ? Feb 29, 2016 08:46 |
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Why first-home buyers shouldn’t be hoping for a property price crash, by No We Don't Have A Vested Interest.
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# ? Feb 29, 2016 08:50 |
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Pfft. Just pay interest until death and then it's the banks problem. They'll likely pass it on to your next of kin but YOLO!
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# ? Feb 29, 2016 08:53 |
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quote:TODAY, Cardinal George Pell is giving evidence via videolink from the Hotel Quirinale in Rome to the child sexual abuse royal commission.
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# ? Feb 29, 2016 09:45 |
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# ? Apr 28, 2024 21:13 |
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drat PC crowd
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# ? Feb 29, 2016 09:48 |