First Home Buyers Grant

[billy the kid]

Within 15 minutes of my house.

https://www.zillow.com/homedetails/204- ... 4113_zpid/

That place, depending on where it was located in Australia....would sell for atm....
maybe $800KAU....... and over a million in places like the Gold Coast....
I suppose if it was in Malibu, it would be worth more.....
Hard to compare that area in Texas with a similar area in Australia...
Where would a similar area be........
For $225K AU in Australia, you get nothing.....maybe a 60 year old weatherboard 2br place
in the middle of nowhere......

[Black Orchid]

Within 15 minutes of my house.

https://www.zillow.com/homedetails/204- ... 4113_zpid/

That place, depending on where it was located in Australia....would sell for atm....
maybe $800KAU....... and over a million in places like the Gold Coast....
I suppose if it was in Malibu, it would be worth more.....
Hard to compare that area in Texas with a similar area in Australia...
Where would a similar area be........
For $225K AU in Australia, you get nothing.....maybe a 60 year old weatherboard 2br place
in the middle of nowhere......

It would sell for above $1.5 million in Sydney and we can't really compare because if you were ever lucky enough to get a place for $225,000 here there would be no work there and nothing to see for miles and miles! Probably have to get your groceries air lifted.

[Texan]

I guess we are blessed with good land and resources. Large companies often start up in small towns for the cheap land and lower cost of labor. Small towns are filled with small businesses or people commute to bigger cities for work. Even in the desert of West Texas, energy is big business. With a town nearby, other businesses come. Cattle in the plains, lumber paper mills and fishing in East Texas, oil refiners and tourism along the coast, technology in the cities. Every part of Texas has something going for it.

[Neferti]

I used to write to a lady in Houston, TX and when she divorced, they had to sell their house and she sent me the Real Estate listing .... $US4,000,000 plus, so not all houses are "cheap" in Texas. I currently write to a guy in Houston and he lives not far from that area so I assume that his house is worth a few million too, I wouldn't be so rude as to ask.

[billy the kid]

https://www.rightmove.co.uk/overseas-pr ... 54436.html

This would do me quite nicely......

[Valkie]

I foresee lots of people going belly up.

I see banks in trouble, just like the USA.

Just because our grubberment want voters.

[billy the kid]

I foresee lots of people going belly up.

I see banks in trouble, just like the USA.

Just because our grubberment want voters.

Global finances are about to crash...I give it twelve months...
Brexit still has to go thru...the lira has gone down...Trade wars...
Spain to go broke...heavily indebted to Turkey....
DeutscheBank to go belly up......worldwide car sales down...
We are going to hell in a handbasket....hold onto your hats....
and Shorten will hurry it all up.....
Still waiting for the results of the senate inquiry into the glass steagall
legislation (due soon)....no doubt the inquiry will negate the GS bill....

[Neferti]

When I lived in St Ives (North Shore) in Sydney, back in the late 70s early 80s, houses were selling for $60,000! They are now worth $2 million plus. What happened?

Bob Hawke brought in a First Home Owner's Grant in the early 80s. It meant that you had to be a first home owner,(never been regardless) earn a certain amount (able to pay 25% of your income in Mortgage) and were limited to the cost of the house you could buy ... $60,000 if I remember correctly.

The basic need was that you got a 1st Mortgage from the Government at 4% interest for $28,000. Actual interest rate at that time was 12%. The interest rate increased, annually until it was level with the normal average rate of 12% ... at that time!

However, the interest rate did increase to 18.5% but, if I remember correctly, Hawke did stabilize those with Mortgages who had committed before 1985 to 12.5% .... which I had to pay.

I wasn't easy as I came to Canberra with a 5 year old daughter, a case full of clothes and a clapped out Ford 1967 Cortina ... oh and $300 in a savings account.

Do NOT ever tell me that you are poor and need more money from The Government!

[LEFTWINGER supreme]

Sounds like Tony dumb dumbs signature policy that fell in a heap, least his lasted more than a day

[billy the kid]

Australia has been screwed by the banks ever since they realized that they could adjust their interest rates
during the term of the mortgage. My first mortgage (and my second) were both at fixed rates..as they should be...
A contract to repay a loan at a certain interest rate should remain the same until the loan is repaid...
The banks shouldnt have the power to increase your interest rate as they see fit....
My mortgages were based on my payment being no more than 25% of my salary..which restricted me to
a market up to a specific amount....these days everythings different...in the banks favour....but the damage
has been done....real estate prices have gone thru the roof.....but now coming down....
Of course, when the banks gave everyone credit cards in the late 70s, it was the beginning of the end.
Nowadays, how many people have four/five/six credit cards all maxed out....live beyond their means...
...and demand higher wages.....
Australia has been screwed since about 1978 and there is no turning back....