The Problem with Housing

[Neferti]

Call to ban ‘toxic’ interest-only home loans

http://www.news.com.au/finance/real-est ... ec9123b66f

Are Banks really loaning people 100% of the price of the house? Isn't this asking for trouble?

We will end up like the US of A and their "throw the keys in the mailbox and walk away" ... HOWEVER, as far as I know, a Mortgage in Australia means you OWE THE BANK and can't just do that.

Forget Interest Rates .... they are really, really low and have been for a decade or more. Forget being thought "unsuccessful" if you don't owe The Bank (you are NOT a Home Owner until you have paid off your Mortgage).

Perhaps some sort of Legislation in relation to RENTALS should be introduced? Is that a State Government thing? I presume it is. So Long Term Rentals should be introduced .... or what?

Something has to be done and it isn't getting rid of Investment Properties... although "they" could perhaps stipulate that those who rent their properties are able to be Long Term Renters or something? Like a guarantee for 5+ years? Unless they trash the place, obviously.

Most people who can't afford a Mortgage and need to rent are decent family people. They keep the lawn mowed and the garden in order. They call the Agent if a tile falls off the shower recess or the toilet gets blocked. They have to have somebody inspect the property periodically to make sure everything is clean and tidy.

I OWN my own house outright (and have done since 1996) as do all my friends. I don't know anybody who rents. However, I do know people who have several Investment Properties. Some persevere with the paperwork, others have just given up and sold to save headaches.

[Black Orchid]

The problem with housing is that overseas buyers can buy whatever they want. They can buy up 100% of units in new complexes and whole suburbs without any limitations.

[Neferti]

The problem with housing is that overseas buyers can buy whatever they want. They can buy up 100% of units in new complexes and whole suburbs without any limitations.

So HOW can we do something about that? Is it a State Government thing or a Federal Government thing?

[LEFTWINGER supreme]

The tax concessions with negative gearing were addressed at the election , you voted libtard so reap what you sow

[IQS.RLOW]

The tax concessions with negative gearing were addressed at the election , you voted libtard so reap what you sow

Tax concessions and negative gearing are part and parcel of any investment.
Next you'll be sobbing that you can't find a place to rent because the rental market has dried up and rents have gone through the roof.

Guess what? You'll also champion the load of bullshit that labor will shovel out claiming they can fix the problem they created by imposing more laws like rent control or massive public housing

Youre a clueless gimp, son.
Go back to blowing donkeys as the entertainment at the CFMEU Friday night sundowner.

[Black Orchid]

Sydney's population has topped the 5 million mark after adding a million people in just 16 years.

It took the city almost 30 years, from 1971 to 2000, to grow from 3 million to 4 million people but only half that time to pile on its next million.

Official Australian Bureau of Statistics population figures released on Thursday said the population of Greater Sydney, which includes the Blue Mountains and Central Coast, reached 5,005,400 at the end June 2016.

That was an increase of almost 83,000 on the previous year, and the city's fifth largest annual population increase in absolute terms since 1901.

Sydney absorbed 78 per cent of NSW's total population increase in 2015-16 and the metropolitan was host to the 10 districts with the state's largest population increases.

The Cobbitty-Leppington neighbourhood in the city's south-west led the way, adding 3338 people last financial year. It also had the state's fastest rate of population increase – 27 per cent.

Sydney's population grew by 1.7 per cent last financial year while the rest of NSW grew by 0.8 per cent.

Sydney will reach a population of 6 million by 2028 at current growth rates, he said.

While Sydney is Australia's first city to reach the 5 million milestone, Melbourne is closing the population gap.

http://www.smh.com.au/nsw/sydneys-popul ... v9pnq.html

Sydney is not just full, it is overflowing.

[Neferti]

Australia's population is still under $25 million (as of Tuesday 28th March) .... our average age is 37.6 which amazes me.

http://www.worldometers.info/world-popu ... opulation/

We need to stop importing the darkies and do something about the Chinese buying up big. I thought there was something in the wind about Internationals not being able to "invest"?