Close

Page 817 of 822 FirstFirst ... 317717767807815816817818819 ... LastLast
Results 20,401 to 20,425 of 20546
  1. #20401
    Veteran
    Join Date
    Oct 2017
    Posts
    2,962
    Rep Level
    4677
    Rep Power
    168
    Sydney Swans Minnesota Vikings Orlando Magic
    Mine is now 340k as of last week when it was zero prior.

    Was genuinely cheaper than renting to just buy a place right now and need a place for the next however long I'm stuck here...

  2. #20402
    Vale Nollsy Embers's Avatar
    Join Date
    Oct 2014
    Posts
    20,342
    Rep Level
    16776
    Rep Power
    987
    Some context

    Person A bought a house for 510k, has 295,000 mortgage. He is complaining to me he has a huge mortgage.

    Surely I can tell him he is talking shit?

  3. #20403
    Vale Nollsy Embers's Avatar
    Join Date
    Oct 2014
    Posts
    20,342
    Rep Level
    16776
    Rep Power
    987
    Quote Originally Posted by wogitalia View Post
    Mine is now 340k as of last week when it was zero prior.

    Was genuinely cheaper than renting to just buy a place right now and need a place for the next however long I'm stuck here...
    Repayments about 1800 a month on a 30 year? Would be cheaper then rent for sure

  4. #20404
    Veteran
    Join Date
    Oct 2017
    Posts
    2,962
    Rep Level
    4677
    Rep Power
    168
    Sydney Swans Minnesota Vikings Orlando Magic
    Quote Originally Posted by Embers View Post
    Some context

    Person A bought a house for 510k, has 295,000 mortgage. He is complaining to me he has a huge mortgage.

    Surely I can tell him he is talking shit?
    When you have almost as much equity as the loan you're in a good spot, under 300k mortgage is absolutely nothing. You pretty much can't rent anywhere for less than that.

    Always blows my mind that people will sit on that kind of equity and do nothing with it. $100k of investable money going to waste in ultra low interest environment is just nonsensical.

    Quote Originally Posted by Embers View Post
    Repayments about 1800 a month on a 30 year? Would be cheaper then rent for sure
    More like $1300 at the moment. Rent on comparable places was $1800 a month for comparison. Obviously with owner expenses it works out about the same but I wont be paying interest on a quarter of it anyway as it will be offset for now and may as well be paying it down. That's P&I as well to be clear.

  5. #20405
    Vale Nollsy Embers's Avatar
    Join Date
    Oct 2014
    Posts
    20,342
    Rep Level
    16776
    Rep Power
    987
    I did the math on taking the equity, dumping it into say ASX : IVV and yeah, you would be miles ahead in every way for what is a relatively no risk set up.

    Wondering if I can talk him into that atleast

  6. #20406
    disco Ball So Hard's Avatar
    Join Date
    Oct 2014
    Teams
    Essendon
    Posts
    6,728
    Rep Level
    15223
    Rep Power
    428
    Toast Toast Toast
    Quote Originally Posted by Embers View Post
    Some context

    Person A bought a house for 510k, has 295,000 mortgage. He is complaining to me he has a huge mortgage.

    Surely I can tell him he is talking shit?
    Probably half the minimum mortgage when buying a house in Melbourne or Sydney
    #NBCSiberia

  7. #20407
    Veteran
    Join Date
    Oct 2017
    Posts
    2,962
    Rep Level
    4677
    Rep Power
    168
    Sydney Swans Minnesota Vikings Orlando Magic
    Quote Originally Posted by Ball So Hard View Post
    Probably half the minimum mortgage when buying a house in Melbourne or Sydney
    Yeah it's small compared to Perth, nevermind those cooked markets.

  8. #20408
    Fly or Die sblack's Avatar
    Join Date
    Oct 2014
    Location
    Sydney
    Posts
    9,872
    Rep Level
    16474
    Rep Power
    565
    Philadelphia 76ers Philadelphia Flyers Philadelphia Phillies
    Quote Originally Posted by Ball So Hard View Post
    Probably half the minimum mortgage when buying a house in Melbourne or Sydney


    2 bedroom apartment for 800k
    TTP

  9. #20409
    disco Ball So Hard's Avatar
    Join Date
    Oct 2014
    Teams
    Essendon
    Posts
    6,728
    Rep Level
    15223
    Rep Power
    428
    Toast Toast Toast
    If we ever somehow see an increase in interest rates again, going to be some serious stress in those markets.
    #NBCSiberia

  10. #20410
    Veteran Triptanes's Avatar
    Join Date
    Oct 2014
    Teams
    Toasters
    Posts
    16,400
    Rep Level
    28982
    Rep Power
    952
    WCE Toast WCE
    gooberment at the time will just start handing out a HouseKeeper subsidy or something to keep propping dem property prices up

  11. #20411
    Vale Nollsy Embers's Avatar
    Join Date
    Oct 2014
    Posts
    20,342
    Rep Level
    16776
    Rep Power
    987
    Quote Originally Posted by Ball So Hard View Post
    Probably half the minimum mortgage when buying a house in Melbourne or Sydney
    This is a 3 by 2 in a good neighbourhood by the way (Darch)

    House is like 10 years old so fairly newish too

  12. #20412
    disco Ball So Hard's Avatar
    Join Date
    Oct 2014
    Teams
    Essendon
    Posts
    6,728
    Rep Level
    15223
    Rep Power
    428
    Toast Toast Toast
    Quote Originally Posted by Embers View Post
    This is a 3 by 2 in a good neighbourhood by the way (Darch)

    House is like 10 years old so fairly newish too
    Made the mistake of looking at houses in Perth, fucking incredible what you can get for $600k
    #NBCSiberia

  13. #20413
    Veteran
    Join Date
    Oct 2017
    Posts
    2,962
    Rep Level
    4677
    Rep Power
    168
    Sydney Swans Minnesota Vikings Orlando Magic
    Quote Originally Posted by Ball So Hard View Post
    If we ever somehow see an increase in interest rates again, going to be some serious stress in those markets.
    It's genuinely amazing because the Perth market is still so utterly off chops on pricing and by Australian standards it's reasonably priced.

    Property is genuinely a government sponsored Ponzi scheme in Australia.

  14. #20414
    disco Ball So Hard's Avatar
    Join Date
    Oct 2014
    Teams
    Essendon
    Posts
    6,728
    Rep Level
    15223
    Rep Power
    428
    Toast Toast Toast
    Quote Originally Posted by wogitalia View Post
    It's genuinely amazing because the Perth market is still so utterly off chops on pricing and by Australian standards it's reasonably priced.

    Property is genuinely a government sponsored Ponzi scheme in Australia.
    Absolutely, every policy decision comes down to this. The property market is in that too big to fail territory now, banks want their money but if they start calling on loans they will decrease the price and potentially impact the value of their own books. It's politically dangerous as well, just look at how the ALP squandered the election after suggesting they'd grandfather negative gearing and remove it for established housing. It is somewhat concerning that people who have invested millions in property failed to understand the concept of grandfathering and thought it would directly impact them, but that's another story.

    One of the bigger disconnects is that policy around house prices (interest rates, credit, etc) is done at a federal level, but historically it's only been Sydney and Melbourne which have been flying. So when you try and slow down those two markets you kneecap struggling markets.
    #NBCSiberia

  15. #20415
    Vale Nollsy Embers's Avatar
    Join Date
    Oct 2014
    Posts
    20,342
    Rep Level
    16776
    Rep Power
    987
    Quote Originally Posted by Ball So Hard View Post
    Absolutely, every policy decision comes down to this. The property market is in that too big to fail territory now, banks want their money but if they start calling on loans they will decrease the price and potentially impact the value of their own books. It's politically dangerous as well, just look at how the ALP squandered the election after suggesting they'd grandfather negative gearing and remove it for established housing. It is somewhat concerning that people who have invested millions in property failed to understand the concept of grandfathering and thought it would directly impact them, but that's another story.

    One of the bigger disconnects is that policy around house prices (interest rates, credit, etc) is done at a federal level, but historically it's only been Sydney and Melbourne which have been flying. So when you try and slow down those two markets you kneecap struggling markets.
    The markets are just too different across the board for a federal policy but itís too late to reverse any federal policies out as well. Only way out is to flood the market with new housing and provide significant tax cuts on depreciating house values at the other side. Would need to prepare for 20 plus years of budget pain to accomplish it though

  16. #20416
    Vale Nollsy Embers's Avatar
    Join Date
    Oct 2014
    Posts
    20,342
    Rep Level
    16776
    Rep Power
    987
    Quote Originally Posted by sblack View Post


    2 bedroom apartment for 800k
    How many sqm out of curiosity

  17. #20417
    Veteran Eagle E's Avatar
    Join Date
    Oct 2014
    Posts
    2,042
    Rep Level
    2199
    Rep Power
    109
    WCE
    So compact that money shots hits the ceiling.
    Quote Originally Posted by showdownhero View Post
    the slutty teenage gash frothing around while I'm off tap makes fidelity quite hard.

  18. #20418
    disco Ball So Hard's Avatar
    Join Date
    Oct 2014
    Teams
    Essendon
    Posts
    6,728
    Rep Level
    15223
    Rep Power
    428
    Toast Toast Toast
    Quote Originally Posted by Embers View Post
    How many sqm out of curiosity
    Lucky to be 100sqm I'd say.
    #NBCSiberia

  19. #20419
    Vale Nollsy Embers's Avatar
    Join Date
    Oct 2014
    Posts
    20,342
    Rep Level
    16776
    Rep Power
    987
    Quote Originally Posted by Ball So Hard View Post
    Lucky to be 100sqm I'd say.
    The house in building is 197 sqm and had a ton of people telling me itís too small FYI

  20. #20420
    disco Ball So Hard's Avatar
    Join Date
    Oct 2014
    Teams
    Essendon
    Posts
    6,728
    Rep Level
    15223
    Rep Power
    428
    Toast Toast Toast
    Quote Originally Posted by Embers View Post
    The house in building is 197 sqm and had a ton of people telling me it’s too small FYI
    197sqm seems relatively small for a house? 3 bed, 2 bath, living/dining?
    #NBCSiberia

  21. #20421
    Veteran
    Join Date
    Oct 2017
    Posts
    2,962
    Rep Level
    4677
    Rep Power
    168
    Sydney Swans Minnesota Vikings Orlando Magic
    Quote Originally Posted by Ball So Hard View Post
    Absolutely, every policy decision comes down to this. The property market is in that too big to fail territory now, banks want their money but if they start calling on loans they will decrease the price and potentially impact the value of their own books. It's politically dangerous as well, just look at how the ALP squandered the election after suggesting they'd grandfather negative gearing and remove it for established housing. It is somewhat concerning that people who have invested millions in property failed to understand the concept of grandfathering and thought it would directly impact them, but that's another story.

    One of the bigger disconnects is that policy around house prices (interest rates, credit, etc) is done at a federal level, but historically it's only been Sydney and Melbourne which have been flying. So when you try and slow down those two markets you kneecap struggling markets.
    From my experience the attack on franking credits was their far bigger issue. When you go to an election with a double taxation policy that targets everyone's superannuation, the poorer in the community who benefit most from franking credits and retirees all in one move it's a pretty damn hard sell. The second they suggested that they instantly put themselves out of play for my vote. Hopefully it's a strong lesson to never be attempting something as utterly stupid as that again.

    Negative gearing should just be approached like capital losses for mine. You can offset it against rental income and that's it. It's a simple and fair approach that's consistent with other investment vehicles. At a stretch I could support it as something akin to the non-commercial loss rules that apply to business income.

    Grandfathering is a particularly unpopular method right now as well, anyone who understands it remotely knows what it means, it's a generational wealth shift which young people have become acutely aware of given what older generations have done in recent years. All grandfather does is allow the wealthy older generations already using it to continue while locking out younger generations from the same opportunities so that we can then listen to old people complain about how "hard" it was in their day when they had free education, wage growth, stable employment, absurdly cheap real estate in good areas and all that. Inb4 the 17% interest on the <50k loans that lasted a few months and was also on their savings and wages.

    Labor didn't realise that young people have actually started to care and basically offered them the typical shiny coin of "we might care about climate change" while absolutely attacking them with all the fiscal side of their policy.

    Don't get me wrong, the Libs are just as bad but at least they weren't attacking pensioners as well!

    Quote Originally Posted by Embers View Post
    The markets are just too different across the board for a federal policy but it’s too late to reverse any federal policies out as well. Only way out is to flood the market with new housing and provide significant tax cuts on depreciating house values at the other side. Would need to prepare for 20 plus years of budget pain to accomplish it though
    This is actually a really strong reason for WA succeeding from the rest. Our economy is so incredibly different to the rest of Australia and runs almost on the opposite path, basically the AUD for us works when it's not working for other states. It's actually one of those rare "stupid" ideas that actually kind of works for both parties. Obviously there are counter-points that it wouldn't work.

  22. #20422
    Vale Nollsy Embers's Avatar
    Join Date
    Oct 2014
    Posts
    20,342
    Rep Level
    16776
    Rep Power
    987
    Quote Originally Posted by Ball So Hard View Post
    197sqm seems relatively small for a house? 3 bed, 2 bath, living/dining?
    Living and dining but no theatre room

  23. #20423
    Veteran
    Join Date
    Oct 2017
    Posts
    2,962
    Rep Level
    4677
    Rep Power
    168
    Sydney Swans Minnesota Vikings Orlando Magic
    Quote Originally Posted by Embers View Post
    The house in building is 197 sqm and had a ton of people telling me it’s too small FYI
    That's pretty small for so far out of the city as well. Most of the time the idea of being that far out is so you can have a 300sqm+ type of place so 197 is significantly smaller than that.

    Still plenty big enough really and if you were in Europe they'd think it was absurdly large!

    Quote Originally Posted by Ball So Hard View Post
    Lucky to be 100sqm I'd say.
    100m is a rather big 2b2b apartment, would run you similar in the decent areas of Perth, generally in that 700+ range for a decent apartment of that size.

    Lot of them are in that 80-90m range.

  24. #20424
    Vale Nollsy Embers's Avatar
    Join Date
    Oct 2014
    Posts
    20,342
    Rep Level
    16776
    Rep Power
    987
    Quote Originally Posted by wogitalia View Post
    That's pretty small for so far out of the city as well. Most of the time the idea of being that far out is so you can have a 300sqm+ type of place so 197 is significantly smaller than that.

    Still plenty big enough really and if you were in Europe they'd think it was absurdly large!



    100m is a rather big 2b2b apartment, would run you similar in the decent areas of Perth, generally in that 700+ range for a decent apartment of that size.

    Lot of them are in that 80-90m range.
    Specifically wanted something small. My previous house was a apartment in East Perth before we moved into my father in laws. Went from 120 sqm to 950 sqm

    I just prefer a smaller house. Donít know why but I just hate unused space
    Last edited by Embers; 12th October 2020 at 10:06 PM.

  25. #20425
    One betting disc please Gamblor's Avatar
    Join Date
    Oct 2014
    Location
    In the money
    Posts
    6,092
    Rep Level
    13187
    Rep Power
    381
    WCE Toast Chelsea
    Quote Originally Posted by wogitalia View Post
    From my experience the attack on franking credits was their far bigger issue. When you go to an election with a double taxation policy that targets everyone's superannuation, the poorer in the community who benefit most from franking credits and retirees all in one move it's a pretty damn hard sell. The second they suggested that they instantly put themselves out of play for my vote. Hopefully it's a strong lesson to never be attempting something as utterly stupid as that again.

    Negative gearing should just be approached like capital losses for mine. You can offset it against rental income and that's it. It's a simple and fair approach that's consistent with other investment vehicles. At a stretch I could support it as something akin to the non-commercial loss rules that apply to business income.

    Grandfathering is a particularly unpopular method right now as well, anyone who understands it remotely knows what it means, it's a generational wealth shift which young people have become acutely aware of given what older generations have done in recent years. All grandfather does is allow the wealthy older generations already using it to continue while locking out younger generations from the same opportunities so that we can then listen to old people complain about how "hard" it was in their day when they had free education, wage growth, stable employment, absurdly cheap real estate in good areas and all that. Inb4 the 17% interest on the <50k loans that lasted a few months and was also on their savings and wages.
    Agree with most of your positions except your view on Franking credits,. They should be non refundable offsets, similar to the foreign income tax offset for mine. People can circumvent it by selling their shares after a year at a 50% CGT discount. People get their money up front instead of waiting to lodge their return for the "withheld" component and also reduces the likelihood of significantly discounted capital gains.

    Rental property losses - Agree with quarantining it (although I compare it to non-commercial business loss rules for sole traders). I am happy with the changes in recent years to make quantity surveyor reports basically redundant on second hand properties and abolishing travel expense claims (which is far better than the grandfathering clauses).

    I'd go one step further to make it compulsory for rental income received to remain on the associated home loan/offset account or deny portion of interest deductions, instead of having these inflated interest deductions on interest only loans.

    I would allow carried forward rental losses to offset a capital gain on disposal of a rental property too.

    For the record to prove I'm not all for targeting groups of people other than me, I think the Childcare Subsidy is pretty reasonable and not a fan of wholly subsidising the entirety of larger proportion of fees (although I think $100 a day for childcare before any rebate is excessive).

    There's aspects of both parties tax/welfare measures I like and dislike but ultimately prefer Labor's approach.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •