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Australian property crash |
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oneonesit
Champion Joined: 06 Aug 2012 Status: Offline Points: 37210 |
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Had a good friend do just that. Sold her business / house & just and just moved down there by herself about 3 mths ago. No regrets so far. Gutsy.
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Refer ALP Election Promises
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Softy
Champion Joined: 24 Sep 2017 Location: Tas Status: Offline Points: 1248 |
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King Island has developed a nice Golf course among other items Tlazolteotl. It used to be quite windy there though but as long as you keep your head under the 2 metre mark you should be fine. |
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maccamax
Champion Joined: 18 Jun 2010 Status: Offline Points: 41473 |
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The only reason Tasmania would see me, is when I'm on my way to Hell.
I'm Trying & Praying to be accepted into Heaven ( I want to avoid the EX ) Fixing up the affairs ( still preying ) |
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Dr E
Champion Joined: 05 Feb 2013 Location: Australia Status: Offline Points: 28563 |
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36 c in Sydney today - snowing above 600 m in Tassie tomorrow.
When Sydney hits 56 c average in Spring, could be nice living in Tassie!
With predicted global temperature increases modeled at between 0.05% and up to TWO PERCENT!!! by the end of the century, the move to Tassie might be on hold for a few millennia yet ... |
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In reference to every post in the Trump thread ... "There may have been a tiny bit of license taken there" ... Ok, Thanks for the "heads up" PT!
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Softy
Champion Joined: 24 Sep 2017 Location: Tas Status: Offline Points: 1248 |
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Speaking of Tassie and its current weather conditions, I believe the weather in Melbourne tomorrow is going to be quite similar to when Northwest Passage won the 2017 Tasmanian Derby for leading Sydney trainer Gai Waterhouse.
On a side note, and with relevance to this thread, current economic conditions should provide stability in the property market down here for at least the medium term. |
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Dr E
Champion Joined: 05 Feb 2013 Location: Australia Status: Offline Points: 28563 |
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Tasmania doesn't really count when discussing "markets" of any kind - simply too small - Tasmania has a smaller population than Newcastle, and doesn't have any of the growth drivers.
The joke is that you still get as much representation in the Upper House as every other state - wtf is that all about???
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In reference to every post in the Trump thread ... "There may have been a tiny bit of license taken there" ... Ok, Thanks for the "heads up" PT!
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Softy
Champion Joined: 24 Sep 2017 Location: Tas Status: Offline Points: 1248 |
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At what point do you discount market size Dr?
Just wondering as it may be something that is affecting your political mathematics. |
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Dr E
Champion Joined: 05 Feb 2013 Location: Australia Status: Offline Points: 28563 |
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A small city that is not reliant on a couple of industries is acceptable - Newcastle is really an outlying suburb of Sydney these days, so is acceptable. Brisbane, Melbourne, Sydney, at a pinch Perth ... Adelaide is mainland Tasmania, with less appeal.
... btw I don't like to skite, but for your information, I DID receive an Achievement Award for Mental Arithmetic when I was in 4th grade. I know, thank you.
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In reference to every post in the Trump thread ... "There may have been a tiny bit of license taken there" ... Ok, Thanks for the "heads up" PT!
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Second Chance
Champion Joined: 02 Dec 2007 Status: Offline Points: 45811 |
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Was that awarded after your 2nd or 3rd year in fourth grade Doc?
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Whale
Champion Joined: 01 Jun 2009 Location: St Kilda Beach Status: Offline Points: 38719 |
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Dr E
Champion Joined: 05 Feb 2013 Location: Australia Status: Offline Points: 28563 |
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In reference to every post in the Trump thread ... "There may have been a tiny bit of license taken there" ... Ok, Thanks for the "heads up" PT!
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Dr E
Champion Joined: 05 Feb 2013 Location: Australia Status: Offline Points: 28563 |
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In reference to every post in the Trump thread ... "There may have been a tiny bit of license taken there" ... Ok, Thanks for the "heads up" PT!
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maccamax
Champion Joined: 18 Jun 2010 Status: Offline Points: 41473 |
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It is all R over Z Doc. How can a couple , both on pensions , live in 5 million Dollar House and then the property is inherited by family.
The Public Purse is the big loser. At least a percentage of these payouts should be taken from an estate over a certain figure . (say) 1 million. |
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acacia alba
Champion Joined: 30 Oct 2010 Location: Hunter Valley Status: Offline Points: 41536 |
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Newcastle is really an outlying suburb of Sydney these days, I dont think so !! Newie is not at all like Sydney. For starters we dont have all the racial divisions going on . Its a white anglo city . Mostly No immigrants forming their own little city within a city. Like Lakemba. Its like Sydney was 20 years ago.
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animals before people.
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Dr E
Champion Joined: 05 Feb 2013 Location: Australia Status: Offline Points: 28563 |
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You mean like they do in North Korea? No, that is wrong, that is the politics of the left, to take and redistribute wealth, to the unworthy, until the people who were aspirational and clever enough and entrepreneurial enough to build a nest egg, just give up and join all the other bludging faceless drones ... and then there is nobody to take wealth from and the whole place goes to gelati ... like every other Socialist regime in history. No wealthy person ever made anyone else poor, quite the opposite. Besides, if they change the laws, it is never the wealthy who suffer ... they just find another loop hole, because they can, because they can afford to! OK, a couple living in a $5 million house shouldn't receive a pension ... that ain't right. |
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In reference to every post in the Trump thread ... "There may have been a tiny bit of license taken there" ... Ok, Thanks for the "heads up" PT!
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Dr E
Champion Joined: 05 Feb 2013 Location: Australia Status: Offline Points: 28563 |
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It's a good part of Sydney aa, there are some good bits! ... people do commute to Sydney for work, it is a part of the Sydney sprawl now.
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In reference to every post in the Trump thread ... "There may have been a tiny bit of license taken there" ... Ok, Thanks for the "heads up" PT!
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maccamax
Champion Joined: 18 Jun 2010 Status: Offline Points: 41473 |
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Doc.. I'm surprised this isn't forced onto asset very rich, cash poor
pensioners . ( NO Lump sums allowed and up to 150% above the pension.) Interesting that it's not widely known . BANK Reverse mortgages can be a trap as Lump sums are often stolen or wasted. ----- Pensioners will be able to use the value of their homes to get extra income under a plan that will see the government step in where banks have dominated. Dubbed the “pension loan scheme”, the scheme has actually existed since the 1980s, but until now it has been virtually dormant because it is highly restrictive and, ironically, not open to all pensioners. Under terms laid out in the budget, the scheme will be open to everyone over pension age (about 1.8 million homeowners) and may well prove popular as trust in the banking industry — which dominates the reverse-mortgage market — is at its lowest following revelations in the banking royal commission. With huge increases in the value of family homes across Australia, many pensioners are asset-rich and cash-poor. Although they do not suit everyone, a reverse mortgage allows the homeowner to draw an income from a loan underpinned by the embedded value of the home. Under reverse-mortgage arrangements, the homeowner takes a loan at a fixed rate. The specific advantage of the new, government-backed scheme will be a lower interest rate compared to private providers such as banks: under the relatively obscure government reverse-mortgage scheme, the interest rate is now 5.2 per cent fixed, compared to rates higher than 6 per cent in the commercial market. The government has also eased restrictions on the scheme, increasing the maximum fortnightly allowable income stream to 150 per cent of the Age Pension rate. Though it was introduced more than 30 years ago, only about $30 million has been put through the government scheme, which in terms of the home-loan market is minuscule. In policy terms, the initiative fits with the government’s broader effort to encourage older Australians to stay in their homes for longer. Under the plan, retirees must receive an income stream that may be up to $11,799 for singles or $17,787 for couples but they cannot get a lump sum. |
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Dr E
Champion Joined: 05 Feb 2013 Location: Australia Status: Offline Points: 28563 |
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No macca, you can't force people to do that - that is called Communism! ... the ALP will do it.
Interesting facility, good opportunity to spend the inheritance, but only for cash flow, no lump sum for the world cruise! ... the reverse mortgage option they mention allows up to about 50% of the home value to be borrowed, with no repayments, interest is just capitalised (added to the loan) monthly ... Star City Look Out! ... then back on the pension.
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In reference to every post in the Trump thread ... "There may have been a tiny bit of license taken there" ... Ok, Thanks for the "heads up" PT!
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maccamax
Champion Joined: 18 Jun 2010 Status: Offline Points: 41473 |
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Star City runs 2nd to the kids. I can understand too, I've got quite a tribe, with me being the oldest of my 5 generation family living. The reliable % is well below evens when it comes to Finance managing. I meant more along the lines of, a scale of pension reduction related to property valuation. Why should Malcolm & Lucy qualify for the aged pension ( After they have been to Star City ). |
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Dr E
Champion Joined: 05 Feb 2013 Location: Australia Status: Offline Points: 28563 |
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Great news for all of those "useful Idiots" who are attracted by the politics of envy!
27 years of economic growth, but the ALP want to change the rules. I hope everyone is prepared for "the recession we had to have". #nevershorten Labor’s negative gearing changes to apply to all investmentsThe Tax Institute has issued a statement providing further details of the Labor Party’s plan to introduce restrictions on negative gearing. The Institute’s senior tax counsel Robert Deutsch says he has been able to confirm with the ALP that the proposed changes to negative gearing would apply across the board to all investments. “Previously it was thought that Labor’s negative gearing restrictions might only apply to property investment,” Deutsche says. Labor’s policy statement says it will “limit negative gearing to new housing from a yet to be determined date after the next election. All investments made before this date will not be affected by this change and will be fully grandfathered.” Labor says taxpayers will continue to be able to deduct net rental losses against their wage income, provided the losses come from newly constructed housing. Losses from new investments in shares and existing properties can still be used to offset investment income tax liabilities. These losses can also continue to be carried forward to offset the final capital gain on the investment. Deutsch says: “The overall impact of Labor’s negative gearing proposals is not likely to be nearly as draconian as some sectors seem to be suggesting. The good news is that the proposed restrictions would apply on a global basis. “This means that taxpayers would need to look at the totality of their investments. If the total of the interest and deductions related to investments exceed the investment income, the excess will not be able to be used for offset against other non-investment income. This excess will need to be carried forward for offset against future investment income or capital gains. “Importantly, you will not have to look at each individual investment or any particular asset class. That would have been an onerous and cumbersome exercise. “Labor’s rules would allow people to hold four, five or six investment properties, with some positively geared and some negatively geared. Provided the overall positives exceed the overall negatives, there will be no problem. While there has been plenty of criticism of Labor’ policy, the Grattan Institute published a report in 2016 that said negative gearing changes should go further, removing the deductibility of losses from passive investments from wage and salary income altogether. The report says: “In Australia, negative gearing goes beyond broadly accepted principles for offsetting losses against gains. It diverts capital from more productive investments without greatly increasing housing supply. “Like the capital gains tax discount, negative gearing primarily benefits those on high incomes. Australia should follow international practice and not deduct losses from passive investments from labour income.” Grattan says its proposal, along with reducing the capital gains tax discount from 50 per cent to 25 per cent, would bring down house prices by up to 2 per cent.” http://www.shedconnect.com/labors-negative-gearing-changes-to-apply-to-all-investments/ |
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In reference to every post in the Trump thread ... "There may have been a tiny bit of license taken there" ... Ok, Thanks for the "heads up" PT!
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Whale
Champion Joined: 01 Jun 2009 Location: St Kilda Beach Status: Offline Points: 38719 |
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Thanks for your impartiality posting that article. It basically says the changes are a good thing and the effects would be minimal
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Dr E
Champion Joined: 05 Feb 2013 Location: Australia Status: Offline Points: 28563 |
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Whale, this is of NATIONAL importance ... if anyone intends voting for these ECONOMIC TERRORISTS, they should know what is in store for them, shouldn't they?
This is pure and simple, the POLITICS OF ENVY. You do know that this is a blatant lie, don't you? “Like the capital gains tax discount, negative gearing primarily benefits those on high incomes." 1.4 million people hold ONE investment property, less than 30,000 people own 5 or more investment properties ... Did you notice who the author is? Who benefits from massive changes and increased TAXATION regulation, more than the TAXATION PROFESSIONALS?
You do understand what a 2% reduction in a cooling residential property market means to anyone who owns property? ... I have given you those numbers in the past, but because CNNPT refuses to explain it, the mini mes don't even try to understand or accept it. This policy will cost at least $500 Billion over 10 years, that is just in the residential property sector. I doubt that anyone has actually calculated the cost, now that it has been covertly changed and includes EVERYTHING! You understand what this does to the needs for future welfare, for residential property owners (70% of the population + their heirs) who are reliant on the future value of that property for their retirement funding? ... no, it is incalculable, but, future taxpayers WILL get the bill, and WILL have to pay. Yep, the effect will be minimal ... like a butterfly flapping it's wing ...
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In reference to every post in the Trump thread ... "There may have been a tiny bit of license taken there" ... Ok, Thanks for the "heads up" PT!
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Whale
Champion Joined: 01 Jun 2009 Location: St Kilda Beach Status: Offline Points: 38719 |
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Deutsch says: “The overall impact of Labor’s negative gearing proposals is not likely to be nearly as draconian as some sectors seem to be suggesting. The good news is that the proposed restrictions would apply on a global basis.
Labor’s rules would allow people to hold four, five or six investment properties, with some positively geared and some negatively geared. Provided the overall positives exceed the overall negatives, there will be no problem. “For investors, this is at least some good news and actually brings us into line with what happens in many other countries, for example the United Kingdom.” While there has been plenty of criticism of Labor’ policy, the Grattan Institute published a report in 2016 that said negative gearing changes should go further, removing the deductibility of losses from passive investments from wage and salary income altogether. The report says: “In Australia, negative gearing goes beyond broadly accepted principles for offsetting losses against gains. It diverts capital from more productive investments without greatly increasing housing supply. “Like the capital gains tax discount, negative gearing primarily benefits those on high incomes. Australia should follow international practice and not deduct losses from passive investments from labour income.” |
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Dr E
Champion Joined: 05 Feb 2013 Location: Australia Status: Offline Points: 28563 |
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Whale, you are becoming so proficient at copying and pasting, you will soon hold the mantle as Best in Village ... but other than re-stating what I posted, and what I have already explained is the opinion of a "vested interest" ... what is your point?
The irony is, I am hardly "impartial" as should these policies be implemented, it will add 30-40% to MY bottom line immediately ... but that doesn't help me long term if the country is ecominomically fcuked over by the ALP, and we are in recession for a few years, and the LNP has to dig us out of poverty, yet again. Our economy is the envy of the world, why would we want to implement a policy that "actually brings us into line with what happens in many other countries, for example the United Kingdom."??? It ain't broken, so why "fix" it??? Does any of this make any sense to you, or are you just blindly toeing the line of the Socialist Policy of Envy, you know, screeching the war cry of the other useful idiots "Let's get those Rich Bastards"!!! You know that Bill Shorten thinks anyone earning $80k p.a. (less than the average wage) is rich and must be vilified and punished ... you would earn more than that on the punt, surely!
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In reference to every post in the Trump thread ... "There may have been a tiny bit of license taken there" ... Ok, Thanks for the "heads up" PT!
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rusty nails
Champion Joined: 20 Mar 2013 Location: Sydney Status: Offline Points: 11400 |
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Here we go again, the finger painter ranting and ravin in pink again.
Continually quoting a figure of $500B that he can neither source or explain. Repeating it over and over doesn’t make it right. The treatments not working, they need to double whatever they’re giving him. |
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Dr E
Champion Joined: 05 Feb 2013 Location: Australia Status: Offline Points: 28563 |
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Fcuk me! ... you again? Serious question, no judgements, but are you retarded? If not, try reading the article by the Taxation Institute, quoting the Grattan Institute, confirming what I have told you a number of times already ... immediate 2% capital loss in value of the residential property stock across the nation. The same people state that this will be followed by a reduction in capital growth of 0.49% p.a. ... simply apply the compounding calculation, and the cost is, once again for the dumb cup cakes like you, AT LEAST $500 Billion. Listen, just give up, nobody expects that you will ever "get it" ... it's of little consequence to you anyway, since you are obviously destined to be nothing more than an envious career welfare parasite (you only just seem smart enough for that!), and will never own an appreciating asset in your lifetime ... a gold tooth, a piece of straw, and some rope to hold your pants up are NOT appreciating assets. How are those hard hitting pieces of journalism in the Betoota Advocate triggering you lately you dumb ass?
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In reference to every post in the Trump thread ... "There may have been a tiny bit of license taken there" ... Ok, Thanks for the "heads up" PT!
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Passing Through
Champion Joined: 09 Jan 2013 Location: At home Status: Offline Points: 79532 |
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Makes you wonder how countries that dont have negative gearing manage their property markets and keep prices above water.
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marble
Champion Joined: 12 Jan 2008 Location: Brisbane Status: Offline Points: 6243 |
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Ok Doc - I'll put my hand up - I don't understand what a cooling of 2% in residential property market will do? Does it make housing more affordable for first home buyers? Does it make a million dollar house a $980,000 house?
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Whale
Champion Joined: 01 Jun 2009 Location: St Kilda Beach Status: Offline Points: 38719 |
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That is good, property prices have reached insane,unsustainable levels. These measures will restore a sense of sanity in the market, still way over priced though. And you say you will lose money Doc, come on ,you expect us to believe you have property investments, not even Macca would swallow that
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Tlazolteotl
Champion Joined: 02 Oct 2012 Location: Elephant Butte Status: Offline Points: 31448 |
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Dr E will offset his property losses with his cryptocurrency profit.
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An honest politician is one who when he is bought will stay bought.
Simon Cameron |
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