House prices
velocityjohnno wrote:
1. Current government will definitely boost student visas to help their friends in the education sector (why is that sector so dependent on foreign students is a separate but important discussion).
2. People coming as tourists and then changing their mind and staying. This would be illegal unless the government is issuing easy bridging visas.
As he said, these 2 are major drivers but I don’t see them being fixed. And sometimes I talk positively about migration. Let me be clear, these 2 categories are not the ones I support. They look like shitty loopholes to be honest.
I think the stat for me was the 300K short stay rentals. I've heard dandandan and his friends' experience in Hobart here, and that stat is just wrong.
flollo wrote:I just can’t get into these articles mate. They are definitely popular but the language used is too much for me.
I just can't get into them cos the original source article is a paywall, lol
Well, that one too. Although, I wish he showed some geographical breakdown. Many would be in popular holiday destinations where most don’t want to live full time. You also get a lot of mixed ones. My neighbour for example, has a room that she rents out on Airbnb. She made a separate entry to make it more private etc. But she lives in the house full time, this room is not set up for full time rental. She just uses Airbnb for a bit of extra money, that room was never intended for full time rental. Is her house a part of 300,000?
World favourite Short term stays are Oz Surf Safari Hot Spots.
Sure! Real Estate gurus don't see the bigger picture as swellnet crew.
This Hottest ever Housing Data falls into our camp! (Being very serious!)
tbb promised to share Red Hot Surf Shak Rental Data with the crew.
Promise!...after crew read this, they will be light years ahead of all the housing experts!
Be like ...OMG! Ok! Best that we're in control! Coz, Look rather silly if we're not.
Dec 2019 = Peak Short Term 400,000 > (Covid) Numbers Dropped
Clean Air Seachange recovery to overcrowd healthy Ozone Surf Breaks to current 260,000
Qld / Northern NSW Prices
https://www.realestate.com.au/news/demand-for-short-stay-accommodation-j...
NSW/Vic (Maps)
https://www.theguardian.com/news/datablog/2022/sep/12/australias-rental-...
Short Term Stays Leaders...
#1 USA = $44,235/yr
#2 Oz = $37,988/yr
Oz Short Term Average $/yr + ( Total % of regional dwellings ) + Global Rank
Intro : April 2022 ~ Byron Rentals on offer Long Term = 43 (vs) Short term = 2013 (Wow!)
That's 1/47 chance of an incoming family worker being housed!
Naturally > Housing FIFO workforce in Bongo vans.
https://www.news.com.au/travel/australian-holidays/greed-from-shortterm-...
#1 Byron (Greater) = $55,368 (28-30%) ( Above US ) 180 day cap > 90 day considered!
#2 Noosa = $56,182 ( Above US )
#3 Surfers Paradise = $47,666 ( Above US )
............Oz Peak Short Term Supply Line..........
#4 Broadbeach = $36,955
#5 Port Fairy (15.35%)
#6 Sorrento-Portsea $37,448 (13%)
#7 Bondi (12.8%)
#8 Tweed Coast (Cabba) (11%)
#9 Surf Coast (10%)
#10 Angourie (>10%)
NSW Surf : Palm Beach 6.2% > Bronte 6.4% > Forster 5.9% > Coffs 5.5 > Cogee 5.2% > Freshwater 5%
CBD : Sydney 6.8% > Melbourne 5.7% > Lesser 3-5% Regions Yarra Ranges / Grafton
Less than 5% of Short Term Accom' is accessible to locals
Average Short term Stay = 3% of Housing Stock
Recap : Notice all Highest Short term Stays are Surfing Reserves.
1800's Oz Surf Safaris established surf reserves in 1870's onward.
Surf Safaris / Cruises / Beach Rail-Taxis-Planes-Resorts-Shacks long before 1910's Surf Board craze.
Whole world has always surfed & above Surf Safari Hot Spots are First Nation centres.
Post Covid era...Surfjustsurf as always #1 Healthy Lungs Convalescence!
National Short Stay Annual Increases
Canada ( 19% )
Oz ( 16% )
Govt Responses / Caps / Reviews / Data / Maps
Pre Covid Goldie Data
https://www.blog.madecomfy.com.au/blog/analysis-of-gold-coast-short-term...
https://www.brisbanetimes.com.au/national/queensland/queensland-housing-...
https://statements.qld.gov.au/statements/96369
https://www.basscoast.vic.gov.au/community-support-services/local-laws/s...
https://www.realestate.com.au/news/the-regions-being-most-impacted-by-sh...
Watch Vid for Trends & oversight...offers some good insight!
https://www.abc.net.au/news/2022-12-29/data-shows-significant-fall-in-sh...
This one is giving me instant headaches, is this a joke?
https://www.afr.com/policy/economy/this-family-s-mortgage-repayments-abo...
The sales executive bought a $2 million house in the inner-west Sydney suburb of Haberfield in June 2021. He borrowed the lot, with $400,000 on a variable rate, which he has paid off, and the other $1.6 million on a fixed rate of 1.79 per cent. But the fixed rate will end in June.
His repayments will increase from $69,000 a year to nearly $110,000, based on the current variable rate of 5.5 per cent.
“I’m going to get absolutely slammed,” Mr De Celis told The Australian Financial Review on Tuesday, as RBA governor Philip Lowe confirmed the official cash rate would remain at 3.6 per cent until at least May.
Budgeting is now a daily conversation between Mr De Celis, who works at IT firm Katana1, and his wife Rachel, who works at ING. They look for savings anywhere they can while raising twin boys, aged three, and their seven-year-old daughter.
The couple sold one of their two cars, a Lexus, for $52,000, switched from Woolworths to Aldi, and will soon cancel a subscription to Foxtel. Mr De Celis also started catching the bus to work as he aims to fill up the Mitsubishi Outlander no more than once a fortnight.
“Date nights are history. I can’t remember the last time I took my wife out to dinner,” he told the Financial Review.
“Family holidays are two or three days in Shoalhaven or Port Stephens. There’s no sending five people on a plane for a luxury trip overseas.”
With childcare costing $1300 a month, the couple also looked at whether it would make financial sense for Ms De Celis to stop working and stay home with the boys while their daughter is in grade two at a state school. But they are $12,000 better off a year if she keeps working.
Another saving they made was cutting back $100 monthly donations to RSPCA and Access Industries by 80 per cent.
He seems to have done really well paying back 400K in 2yrs, seems juxtaposed to current budgeting. Is that the kind of headache you are navigating?
TBB - those %s above, are they the % available for long term local tenants, or are they a different kind of %? Yes it seems that us surfers are a bit ahead of the RE agents living in the surf areas, as if we are some kind of golden breed...
The funniest thing about those kind of sob stories Flollo is that they are never joking.
My mum's landlord who is exactly the same age as my mum emailed her to say she couldn't fix the broken sink tap (I drop 2.5 hours to fix it for her in the end) because she is currently in Fiji on her yacht and doesn't want to make international calls. The note at the end that "Sent from iPad" sent me into a spiral.
Same guy, another article!?
https://www.news.com.au/finance/economy/interest-rates/sydney-family-str...
I can't believe it made the news. Let's recap:
- $2m house (paid off $400,000 so has some equity) - can be sold and another house bought for $1m-$1.5m. Yes, Sydney is expensive but it's not that expensive that you can't buy a decent house for $1.5m
- Lives in an inner city suburb but needs a Mitsubishi Outlander + Lexus. One sold for $50+k, other can also be sold and something more modest in the $20k range can be bought
- Cries poverty because he needs to shop in Aldi, catch a bus or cancel Foxtel. Can't afford any luxury overseas trips and needs to holiday locally. So, he admits that he can still holiday but not overseas.
Seriously, this is just terrible financial management. What will they do next, ask the government for help? I can't believe this made the news, there are those who really need help and they are not on the news. Well, ABC is the only one that covers certain topics and I am very thankful for it.
If I came with these problems to my parents I would get slapped in the face. Especially as an adult man.
Best comment was 'I wish I had a Lexus to sell to prop up my mortgage.'
I saw a VS Commodore in Kempsey for sale for $360, now there's a bargain for you all. Ecotec motor is very reliable, it'll getcha to work. Felt like the Australia of my youth to see such tempting pricing.
Aldi for some time had/has had better produce than the majors anyway.
Given the last decade, I wouldn't be surprised if government help occurs.
I had to check it wasn't April 1st flollo.
He could sell that cool headband he's wearing, that'd get a few bucks.
Westofthelake wrote:I had to check it wasn't April 1st flollo.
I did this twice as well because it sounded like that. It honestly reads like a joke.
Maybe the gentlemen can get a bit more modest and move ~10km, 20min further out to this duplex in Greenacres for $725.
https://www.domain.com.au/2-9-chiswick-road-greenacre-nsw-2190-2018427177
It's nothing flashy but if money is an issue? Or is he too good to live there? He could sell his place, add $50k to the existing equity, and live with a very modest mortgage. He might even be able to shop in Woolies or keep Foxtel.
Giving up Foxtel would have to be one of the hardest decisions to make for such a financially astute person like Mr De Celis. I mean you can get 4 streaming services for the same price as Foxtel, but then you would miss out on all the stimulating journalists they have in their stable, which he probably enjoys just as much as his luxury trips overseas. Fuck me are people just getting more stupid by the month nowadays.
flollo wrote:This one is giving me instant headaches, is this a joke?
https://www.afr.com/policy/economy/this-family-s-mortgage-repayments-abo...
The sales executive bought a $2 million house in the inner-west Sydney suburb of Haberfield in June 2021. He borrowed the lot, with $400,000 on a variable rate, which he has paid off, and the other $1.6 million on a fixed rate of 1.79 per cent. But the fixed rate will end in June.
His repayments will increase from $69,000 a year to nearly $110,000, based on the current variable rate of 5.5 per cent.
“I’m going to get absolutely slammed,” Mr De Celis told The Australian Financial Review on Tuesday, as RBA governor Philip Lowe confirmed the official cash rate would remain at 3.6 per cent until at least May.Budgeting is now a daily conversation between Mr De Celis, who works at IT firm Katana1, and his wife Rachel, who works at ING. They look for savings anywhere they can while raising twin boys, aged three, and their seven-year-old daughter.
The couple sold one of their two cars, a Lexus, for $52,000, switched from Woolworths to Aldi, and will soon cancel a subscription to Foxtel. Mr De Celis also started catching the bus to work as he aims to fill up the Mitsubishi Outlander no more than once a fortnight.
“Date nights are history. I can’t remember the last time I took my wife out to dinner,” he told the Financial Review.“Family holidays are two or three days in Shoalhaven or Port Stephens. There’s no sending five people on a plane for a luxury trip overseas.”
With childcare costing $1300 a month, the couple also looked at whether it would make financial sense for Ms De Celis to stop working and stay home with the boys while their daughter is in grade two at a state school. But they are $12,000 better off a year if she keeps working.
Another saving they made was cutting back $100 monthly donations to RSPCA and Access Industries by 80 per cent.
My heart pumps piss!!! Seriously if they've paid off $400k in two years then that's impressive. But have they actually paid off $400k or paid $400k in P&I. There's a difference!!!
flollo wrote:I can't believe it made the news. Let's recap:
- $2m house (paid off $400,000 so has some equity) - can be sold and another house bought for $1m-$1.5m. Yes, Sydney is expensive but it's not that expensive that you can't buy a decent house for $1.5m
- Lives in an inner city suburb but needs a Mitsubishi Outlander + Lexus. One sold for $50+k, other can also be sold and something more modest in the $20k range can be bought
- Cries poverty because he needs to shop in Aldi, catch a bus or cancel Foxtel. Can't afford any luxury overseas trips and needs to holiday locally. So, he admits that he can still holiday but not overseas.Seriously, this is just terrible financial management. What will they do next, ask the government for help? I can't believe this made the news, there are those who really need help and they are not on the news. Well, ABC is the only one that covers certain topics and I am very thankful for it.
If I came with these problems to my parents I would get slapped in the face. Especially as an adult man.
Not disagreeing, but consider this:
Sale of existing property will attract commission and legal costs - circa 65k
Purchase of downsized 1.5m property attracts stamp duty of circa 70k.
So his 400k equity just became about 265k.
That’s a lot of foxtel.
Seems property will be the last domino to fall, or maybe not at all. Every other avenue of spending will suffer first and worse. If they hold on grimly and don’t sell then the supply side stays low, putting a floor under prices. And rents ain’t going down so owning is probably better long term anyway.
Ive been spruiking price drops but I didn’t factor the effect of 900k people coming into the country in the next 2 years.
It will alter the natural course
I sense a great disturbance in the farce
$800 a week for a one-bedder in Bondi?
400,000 people into Australia last year with most going to Sydney and Melbourne?
There's a disturbance in the farce all right.
https://www.smh.com.au/property/news/whiplash-rental-crisis-deepens-as-s...
I'm no economist but I haven't seen a convincing argument against simple supply and demand in real estate.
Not enough supply and increasing demand seems a very straightforwards equation to me.
Corporate greed is certainly an input Wilhelm, look at the dividend bonanza over covid. But so is currency printing (huge over the pandemic after a decade binge) and yes, when borders were closed Australian employees wages actually went up so the economists are also right to an extent about the supply/demand of labour. Read a lot of Marxist IR theory at uni so I'm not entirely unfamiliar with the views you have linked, and they are a good perspective to have out there too.
The bigger problem further down the road as Summers states has real historical precedent and is for the majority a currency problem, and leads to impoverishment of a population, especially those least able to defend themselves from it.
https://www.britannica.com/event/hyperinflation-in-the-Weimar-Republic
freeride76 wrote:I'm no economist but I haven't seen a convincing argument against simple supply and demand in real estate.
Not enough supply and increasing demand seems a very straightforwards equation to me.
Definitely. The only other variable is capacity. But while there are more people needing roofs over their head than the number of roofs in existence (compounded by a slow-down in building), then people will find a way.
I think maybe the 900k may rule itself out as it becomes well known that Oz is one expensive place to live, short or medium term. Fast forward 6 months…
if I was an o/s student or holiday visa worker looking for a destination, then maybe Canada or NZ might look more palatable once living expenses are factored in. The tide might turn.
I consider this a great explanation of our zeitgeist by Charles Hugh Smith, who seems quite good at capturing the big picture:
http://charleshughsmith.blogspot.com/2023/04/why-interest-rates-are-not-...
His argument that going renewable will crowd capital demand for consumption seems logical, and infers a world of higher rates. The article deals with backstory and outlines how globalisation is now shrinking away, extended quote is quite relevant to what is going on in Oz vis a vis young people, renting, and housing - and implies a need for the massive immigration ("please come here and yes you can buy our houses") that is causing further pressure as seen in our thread here:
"So what changed around 2007-09? Globalization and Financialization moved from "virtuous cycle" to stagnation/decline, policies became more extreme to mask rising systemic risks, and the addition of a billion new workers aspiring to all the commodity-consuming luxuries of the middle class lifestyle soaked up excess production of oil and other commodities. With surpluses gone, prices had to start rising.
Post-Covid lockdown and recovery, China's policies changed from "open to the world" and "peaceful rise" to aggressive militarization and the restriction of Chinese society's access to the outside world.
All of these factors exposed the risks that had been successfully masked: the risks that global supply chains can break down or be disrupted by geopolitics; the risk that financialization games can blow up; the risk that Neoliberalism failed to suppress risks of fraud and exploitation; the risks that soaring debt outpaces expansion of the real-world economy, generating debt crises, and the risks of extreme policies generating unintended consequences (moral hazard, extreme risk-taking, etc.) and blowback (re-industrialization, trade wars, etc.).
On top of these risks, there are now demographic, capital, labor and resource sources of risks. Geopolitical tensions are rising, which is historically typical in eras where essential commodities become scarce and/or unavailable /costly. This is incentivizing re-industrialization, reshoring, friendshoring, etc., all of which are national-security issues aimed at reducing dependency on rivals or risky supply chains.
In effect, the nation-state has to take the driver's seat from deregulated markets, the Neoliberal ideal.
This re-industrialization is also driven by the transition to non-hydrocarbon energy sources, a goal that will require far more capital than most expect even as it underperforms unrealistic expectations. The demand for trillions in new investment will pressure credit for consumption (new homes, vehicles, vacations, etc.), pushing the cost of credit higher regardless of any other conditions.
In the past decade, birth rates in many developed and developing economies have cratered while the workforce ages and enters retirement. Both of these developments mean pension and social welfare programs launched when there where 5 workers for every retiree are no longer sustainable now that there are only 2 fulltime workers for every retiree/recipient of social welfare.
The decline of the work force also introduces two other dynamics: potential labor shortages and the stagnation of demand, as older people consume far less than new households having children. As marriage rates and birth rates plummet, so do the prospects for consumption-driven economic growth.
The policy extremes of ZIRP, moral hazard, credit expansion and the chasing of yields has inflated The Everything Bubble which has put the price of housing and vehicles out of reach of the bottom 60% (or in many regions, the bottom 80%) of households.
This rising inequality erodes social cohesion and fosters an alternative lifestyle in which young workers opt out of the rat race to acquire an upper-middle class income and wealth. This diminishes the pool of potential buyers of all the overpriced assets, further reducing liquidity on a demographic/structural basis."
This one was good too:
https://theshot.net.au/economics/australian-housing-is-a-cartel-and-its-...
"At the deepest heart of the issue is the political unwillingness to allow housing prices to drop. Ignoring that our nation’s politicians are themselves one of the most concentrated pools of property investors in the country, there is also the fact that our leaders are obsessed with pandering to voting homeowners with vested interest in maintaining, if not increasing, the value of their properties. As a result, even common sense policies that might help address our growing epidemic of homelessness are seen as politically undesirable, and so, the status quo remains unchallenged, and fuel keeps getting poured on the fire.
Meanwhile, enterprising Australians looking to buy a home are left with little choice but to take out wildly inflated loans to keep up with the ever-rising housing prices. And where do they turn for these loans? A small handful of lenders, of course. These lenders, often referred to as the “big four” banks in Australia, dominate the mortgage market, effectively controlling the flow of credit to potential homeowners, and as a result, they can play puppet master with house prices.
What we are now seeing as a result, is the tendency for these banks to act like legalised wealth extractors – trapping people in multi-million dollar loans then ratcheting up their interest rates, while keeping interest on savings artificially low. This process ensures that, over time, more people have less savings, thereby making them even more dependant on ever increasing loans. In this low-regulation, high profit market, we’ve effectively trapped every person seeking shelter into a cycle of subservience to a banking cartel, working in tandem with a reserve bank dominated by business interest which helps put a sheen of legitimacy on their grift."
Further:
"And so, dear reader, I present to you my latest, and perhaps most daring, proposal: a class action lawsuit against the government and the big four banks, aimed at forcing them to take drastic action to fix the housing crisis.
Our demands? The scrapping of negative gearing, a ban on using residential housing as Airbnb rentals or investment portfolios, and a commitment to prioritize affordable housing over profit-driven development. We, the young people of Australia, would be taking a stand against intergenerational theft, demanding that our basic right to shelter is upheld by those in power."
A lawsuit...
Digitizing Home Ownership is a crime!
Today! Sharing yet another oldschool personal Tip.
Taking out a Home Loan & accessing pre internet Home Loans now requires an email address!
Check this sample...now the very first form of ID for Bank Home Loan.
https://www.macquarie.com.au/help/personal/home-loans/apply-for-a-home-l...
Exactly...It's stupid and was never a thing...so why did email go from #100 > #1.
tbb does not bank or trade online nor send messages via 3rd party.
Meaning tbb contacts swellnet thru comments or the #1 welcome mat.
People can send a reply email to tbb or if it's shared...extremely rare!
Usually accessed once whenever if computer allows...mostly to clear 200 Junk Mail Pile...
No idea how it works, tbb has never sent a reply...
Mostly coz ya gotta subscribe to some irrelevant absurd otherworldly demons...just say hi next door!
Can't see why any would bother... so just go without...'70's freestyle...no daily hassles!
Sure! Ya get all sorts of Threats & Abuse even Demands > "To get an email!" All illegal!
tbb never spends a lot so comfortably gets ahead on Home Loan...
Daughter's wedding is where most funds gets funnelled over the last year...
eg: Draw Down is now called a Cash Back...
Let say tbb accessed his $3,000 cash back last year...without too much hassle.
Fast Forward to today > Cash Back request for $2,000 is denied...Huh! Plenty of funds for several goes!
Bank Teller : Nope sorry! Don't know why but you can't have yer Cash Back...'Strewth!'
Just saying...the chick was surprised...
(Important) This has seemingly just been mandated...by Who?
Strange! Coz only yesterday the Town was denied Oz Post E Banking + Mall ATMs access.
Banks / Oz Post had Queues around the corners.
Today tbb had no queues so let 3 lots of less abled get ahead...no fuss as tbb is also a disabled local.
Only when tbb simply wanted a Cash Back...Well! The queue started building up...
Now crew can see why tbb let less abled Gran & amputees ahead...could just smell this comin' on!
Tip for Gromz! The older ya get the better yer bullshit detector gets, but you'll need that & more!
Bank Teller had no idea of Loan Access Denial...
About now tbb offered up Password to obtain override access...surely Yes!
Computa said NO! Don't want that miserable shit!
As said above...can no longer access new or past Home Loans without email ID!
Teller kept goin' on about it & went back'n'forth 3/4 times! Troubled she was!
Here's what happened next, to move the crowd on...after a few dodgy backroom deals!
Bank Teller gave tbb a fake email address + Asked tbb to sign off on this fake ID...(Really!)
Then tbb naturally asked for his copy of Fake ID email for easier ID access at next Cash Back...(Correct!)
Teller said NO!...we'll just apply under a new Fake Application for next Cash Back...Say Wot!
So how the fuck do fake emails rule access to pre www home loans...what evil force commands this?
World is truly fucked up people...just make up shit as ya go & more shit the next time.
All in the bank were fucked over for 20 mins over this rogue email mandate!
Ok! Crew are starting to see the ID theft Crisis on the Telly is no accident...seemingly mandated.
This is creepy...(Why! Crew know why!)
tbb was just duped into internet banking so Bank can tap in 3rd parties into tbb's personal accounts!
Basically tbb was stupid enough to be forced into co/signing (No receipt) Fake email access to my accounts...
This banking email mandate is a criminal > now allows creepy 3rd parties to access tbb's accounts.
This is why the Bank refused tbb access to Copy of email ID. (Again! tbb feels he lost his Virginity)
Just got fucked over & gang banged by own bank that can now trade access to tbb's funds via email!
Right! So all sounds above board...nuthin' suss with tbb's Bank...Wot? Grrr!
Perhaps they're dropping a subtle hint...
Meaning this Qld bank is not likely to be around for tbb's next Cash Back! (No! Not joking!)
PS : Plenty more plump suckers like tbb are being tapped with new fake email access!
Just check on yer parents accounts when doing Loan Cash Backs...victims of Post Covid Global ID scam!
tbb got caught out as an old fool does...look after yer parents!
They are locking you out of yer own funds & then bully & trick you into online banking for them only!
Massive White Collar crime!
Almost impossibly! Banks just got greedier...just be on the lookout for mandated Digitization fraud!
Govts are currently fine with banks committing this fraud...do not trust either!
Recall people laughing about Covid Digital ID theft...tbb is not laughing...he feels gullible & violated.
Yes! More sick and even weaker...feel like an old fool...being caught out by own greedy bank.
tbb just turned 60...lesson to all...this is cowardly Govt Institutionalized Elder Abuse...Be alert!
In case yer wondering! Yes! It is a crime to mandate a Person to conform to digitization! Yes! Elder Abuse!
All recall First Nation never needed On Line registration for Vax...for very same reason! It's a Crime!
Further more onto this...
Just to share this mandated email Home Loan access crosses over to Savings account.
tbb can verify this is total online crime...
1. tbb was denied access to Loan Cash Back without email
2. Bank denied Password override
3. Bank informed it could not proceed without Fake email.
4. Bank insisted on signing Fake email
5. Bank refused request of Fake email receipt.
6. Bank refused direct access to cash back
7. Bank insisted the fake email transaction forged my savings account.
8. Game Over...Bank just completed tbb's first digital transaction with tbb as signed witness.
People! This is what they'll do to your parents & their Home Loans / Savings accounts!
Illegally grooming > one sided internal online banking of yer parents accounts.
Again! It's called Elder Abuse to digitize yer parents & lease them out!
No! It's not a conspiracy...ID theft is mandated & tbb is a victim! This is yer Wake up message!
udo wrote:https://www.news.com.au/finance/real-estate/buying/qld-couples-250k-home...
What a disaster. I would never buy off the plan, that part of the market is plagued with issues. You would feel so sorry for the couple. Did they get their deposit back, I didn’t get that part? You would assume yes + you would expect interest to be paid otherwise even that money lost value due to inflation.
What about this chateau? It’s close to some good waves.
Anyone watch those real estate shows on 9 life?
Like "House hunters International"
https://www.9now.com.au/house-hunters-international
Blows me away how expensive it is to buy or rent through South American countries or areas of Asia that you would expect would be dirt cheap, even when outside of tourist or expat areas the prices are quite high.
Indo is the same, i joined a few Buy and Sell local Facebook groups outside of Bali groups that are 99.99999% Indonesians and the prices locals are wanting for land or houses is just crazy compared to what it was say ten years ago.
Yeah Indo I follow regularly and yes, anything of quality is quite expensive. Reason being that cheap areas often come with many issues like crime and quality of housing can be quite shocking. Many houses are not even finished. Not to mention that you need barbed wire everywhere around the house to feel any safety.
Chile is an interesting one; I saw some of the best houses ever but I also saw a lot of shockers. I walked everywhere, including very poor areas. Many cul de sacs were closed off with dodgy materials by residents themselves. Houses on the slope (especially in Valparaiso) had to have roofs covered in dodgy, rusty barbed wire so thiefs can’t jump on.
But on the other hand I witnessed most amazing architecture in my life. Those who had the money were willing to pay premium for safety and the quality. And you could see it in price, it’s as expensive as it is here, maybe even more.
there's a cheap place in bali, if you don't mind brazzo-machismo chic..
Thanx Udo ... Sunset Claws...claws back 10% deposit contract...Wow!
Aussies gotta wake up just to get booted out...
Housing Crisis is creeping around owner's front doors.
Govt's allow crook Banks / Developers to now rewrite & over rule existing Home Contracts.
Outta my way you little people...got another Pollie's Mate's Housing Crisis Quango to loophole!
Bastards are kicking down yer front doors to raid yer piggy banks & empty yer pockets!
What was once a Buyers contract or signed Loan agreement ain't worth shit.
They can now change T&C as they like to tap into yer banking or turf ya out!
All here are on notice to wise up to protect yer lot from powers that be...we are all next in line, anytime!
Can recall here in Qld...Newly Wed owners having Hwy ploughing thru their Honeymoon Dream homes!
No longer a bright side of the road on easy street!
Holy Grail...Off Grid Home Garages!
Tried to find these online...ultra rare!
Our new managers recently turned our "Office" into a Caretaker Rental!
No one asked us residents!
The new managers now rent their Double Garage + our adjoining office.
Far as tbb knows that also includes our Lock Ups...tbb has no key for!
Point of this is this ... all Off contract / Off grid...
tbb is confirming..those in charge are rising up to take charge of our lot at our expense.
This pattern is backed by Govts & Top end down making a killing off us little people.
Govts look the otherway as they rubber stamp their VIP Mates take over.
Yes! For sure tbb's crew have an on site land bank & reckon we're in for a fight to hold onto that!
Nope! Not a conspiracy...The Rich are rising up as one to deprive the poor by overriding contracts.
Can see it here in tbb's Wealthiest Owners / Body Corp / Management / Bank all rorting us lower tiers!
Never seen anything like it in the past...tbb is seriously warning to put yer guard up & wise up!
All the above have tried / succeeded in rorting tbb in last Year alone...never notified until rorted...Ohh!
Just like that people...branded guilty or get ripped off by those you pay to protect you...Who's next?
Ok! So no one's crying & we have the best Groundskeeper & top bloke he is.
tbb knows such coz he replaced former best groundsman & before that next best then tbb himself!
Exactly...tbb is claiming each Groundskeeper is better than last...& Salute / Reward them as such...easy!
However! tbb also mowed Rental Yards with Dog Poo / Kidz Toyz > now all padlocked by new owners.
Recapping as little as 10-15 years ago > Reedy Creek was long branded an arse end location!
New groundsman gets about & yesterday shared current prices with tbb.
Yes! Even his own mates rates...told ya he was a good bloke & open & honest!
$ 300/wk (Complex Office / LU Sheds + Managers DLU Garage rental to Groundskeeper)
$ 350/wk DLU Garage - (Pay own Power/Water) Attached to $1,000wk Rental
$650/wk 3bd Townhouse
$850/wk 4bd Duplex
$900/wk Terrace House
$1,000/wk House + (New Extra) $350/wk (DLU Garage as above!)
Recapping...
All owners pay $5,000/yr Bodycorp
All prices are for 30yr old properties in undesirable middle earth bottleneck.
Reedy Creek is about 5kms inland from #3 Ranked WSR City Airbnb / Resorts
Just as tbb earlier exampled...( Increasing 3x Private Schools Attraction )
Met the Chinese Guy that vacated Sydney to pay big money in complex for Kid'z Private College
Also 100% confirming the Goldie like 4 like (20yr Mortgage > Cost / Rental theory)
eg : Current Lowest Town House Price $650K=Rent $650wk > Houses $1,000K = rent $1,000wk
Our Top End Houses ("Sub divide") Releasing a new entry level DLU Garage ($350/wk Rental)
tbb can't find where DLU garages are listed as Long Term Accom.
Guessing the crew know its some kinda DLUG (Artist studio) code on Airbnb.
* Live in Industrial quarters with active Work site
* Live in Pub/Shops
* Artist Studio or 12 Students-Share home / Caravan / Camping share amenities block
* Recall single Mums handing over welfare cards to landlords as rental security
But can't find listings for Live-in LUG.
Seems pretty obvious that LUG have gotta be the Hottest contested in Housing Market.
tbb is guessing these poor buggers are copping record rental blowouts with no say in the matter!
We all know this bit on the side accom, flies under the radar (eg: "Strictly Not Liveable Quarters!")
Can't help thinking an increasing large pop now live in other Family's Garages...
At what point does an overcrowded off grid rental enclave obtain Camp Status...needing Utilities!
So at what point do we flag this off grid lack of amenity a dual Rental / Health crisis!
Anyhow! tbb is listing what entry level LUG renters are up for!
Reedy Creek DLU garages (Mates Rates) $300 P/W/www incl > Standard $350/wk (No P/W/www)
Garages are now Likely outta reach for the unemployed...more suited to frontline worker/s.
PS : Any recall Govt backed > Priority Bed Sits for Nurses...be worth checking on exemption / expiry!
Coz you'd reckon that's another entry level Crisis stampede or if not already rorted to o/s students!
tbb anything goes. I just read somewhere that Australian unis collectively lost $850m last year. That's a big number. And what's the quick fix? Thousands of international students. No wonder people are sleeping in garages and sheds. I even saw someone commenting that sleeping in the car is not always due to a lack of money or broader homelessness issues. There are literally not enough properties to house everyone so some have to live in cars until they find something. It's crazy.
To infinity, and beyond!
So right you are flollo...that's another more severe entry level right there.
Ok! No point enquiring about something that doesn't exist...silly tbb?
Typed in many search options but applying reverse logic helped on this one!
Yep! That'll do it...kinda like Garage Renters can only legally exist as next weeks news headline...got it!
"Sleep Outs" require Plumbing + Cooking Facilities
This is all ya get...some weird arse Drive thru Garage Porn...can't help that!
Mar 2019 ~ $450/wk Richmond Vic (Sink) + Cook with Exhaust Gas...weird arse 2/3 way living.
Councilor + Greens senator > Got this bastardized gas chamber kicked off Real Estate Listing...
https://www.dailymail.co.uk/news/article-6860157/Richmond-studio-apartme...
Feb 2021 ~ $300wk (Single) 400/wk (Double) Carterton NZ (No Water or Toilet access) Full of Shit?
https://www.stuff.co.nz/business/property/124123819/garage-sleepout-list...
July 2022 ~ $400/wk Salisbury SA (Possibly Illegal)
https://www.adelaidenow.com.au/subscribe/news/1/?sourceCode=AAWEB_WRE170...
Nov 2022 $170wk (Single) 250/wk (Twin share) Bay of Plenty NZ "Workers!" (Power / wi-fi > No Bath)
Worker's = As in no isolating loser contemplating suicide on my watch thanks! Not Joking...see below!
https://www.stuff.co.nz/bay-of-plenty/300752594/garage-advertised-as-bed...
April 2023 Inside the World of an Isolated Garage renter (tbb salutes this guy for facing up to reality!)
Man it's a tough gig to share this level of depression with the world...Wow! Good luck mate!
https://www.nzherald.co.nz/bay-of-plenty-times/news/bay-of-plenty-rental...
Balcony Boys (No idea! Crew will have to use yer depraved imagination!)
Feb 2023 ~ $300 /wk Syd. 1 boy only ...kindly send me your info + $800 Deposit + $200 for Key.
List your Nationality + Fav Polly Pocket Furniture + E bike size!
Min Prison sentence 4 mths has wifi + Rice (WTF!) So it comes with it's own Mice ya say! No! R.I.C.E?
tbb pauses to cry...basher got broken up by that one! Fark! Hard to continue after that...
(Pretty sure this is one of them new fancy up market Rape Dungeons!) Reply : [0][0][0]...well durr!
https://www.news.com.au/finance/real-estate/renting/1-boy-only-man-rents...
BCF Kitchenette.
April 2023~ $300/wk Syd...Student Tent in the Kitchen...Yes! That's right Miss! The Dingo ate my Thesis!
Will ya please study more quietly when Gogglebox is on.
Comes with 2 Rugs for Luggage +1 Chair/Blindfold/Handcuffs! (No farting!) Ph: [0][0][0]...Now Please!
https://www.abc.net.au/news/2023-04-04/international-students-resort-to-...
How about a Dilapidated Caravan for $250/wk : Requires References from The Deen Bros!
Kmart boxes for windows + Yer standard dead body in the Mattress with propped up cupboard doors.
Ok...So where does this end tbb...
Well, as the crew know...Rental Crisis becomes a National Pastime then a 2032 Olympic Sport's Rort.
Then ya all die laughing at some ostentatious socialist hipster taking the piss outta it.
Jordie purplepingers will Sing / Chew / Mumble thru the rest of this Shitty Rental Tour...Salute!
https://www.tiktok.com/@purplepingers
Here’s one from Switzerland
Housing Crisis > Bricks'n'Mortar > Hip Pocket > Data Theft
Boomer tbb was a victim & so too the Gromz.
Lack of regulation leads to Robot Rental Cops "Thumbs Up or Down"
Govts are letting 3rd party creeps to perve thru yer drawers.
Sniffin' wot eva they like to swipe left or right!
Rental Agents will infer app is non-negotiable...(Be warned crew!)
(Recap...exactly wot tbb's Bank inferred about needing email for Home Loan access!)
We're talking about Govt Regulated industry + o/s IT partner to extort access to corrupt & trade yer data.
Choice reckon if ya refuse any dodgy Welcome Mat app ya get barred from Real Estate Agency/s.
Mostly coz these creeps are spreading like a disease & hot linking one another!
Tenants Union : Applications are poorly regulated > Unlimited Pie in the sky for ultimate creepshow!
They can get yer info for free & can do as they please to sell yer arse!
Under the Hammer...
Rental Contracts now stretch over 15 pages (5,000) Legally binding words!
Idea being to just sign yer life away...pretty sure it'll be fine!
Again tbb felt pressured with Bank Queue growing behind him...(Same Gig!) All are on the back foot!
Everybody is put on the spot..."FFS Just sign up for the fuckin' IT shit...then fuck off...Next! Hi! Nice Day!
* 60% Renters are now nervous about sharing Data
* 29% backed outta rentals coz they didn't trust Data Share
* 41% Pressured to share Data with agencies
* 29% Had their Data scored against prospective tenants to win the rental
All of these dodgy shit is 100% Govt approved & milking the Housing Crisis right now!
(Credit System to Make Renting Easier)...Cough!
Company does not disclose wot data obtains yer score!
Yes! Of course they're State Govt darlings entrusted with VARC Community Housing.
Snug decides who goes into the Rental Ballot & picks the winners from from their E barrel.
Premier : 'Gotta be in it to win it!'
https://www.theguardian.com/australia-news/2023/feb/20/its-worrying-vict...
'Snug' Robots were rewarding higher Rental Rating if ya offer higher Rental payment.
Actual example :
Offer an extra $10/wk > Scores a bonus 3 Gold Standard Snuggly Soft Renter Points.
See also above...if ya refuse the app ya get barred > next player is instantly rewarded Gold Standard!
Snug : [ Non Negotiable ] Just use the app Loser or else...you're life is fucked!
We own your arse...just ask yer Local Premier!
Yeah! Can see why State Govts drool over their devious level of 3rd Party creepy corruption!
Snug reckon they're reformed creeps...kicked the Pay2Play habit...dreamin' up another dodgy scheme!
Still happy to collect essential wide ranging intel > Friend Lists, Social Networks, Airbnb / Uber ratings!
Oh Yeah : Yer Marriage Cert / Car rego / Bills / Tenant report / Investments / Savings / Govt cards etc...
Also allowed to probe yer "Internet Activities."
All yer happy snaps get auctioned off to Reputable Real Estates for Ads'n'shit to inflate yer price more.
CHOICE say enough is enough...
https://www.choice.com.au/consumers-and-data/data-collection-and-use/how...
A million more houses for Melbourne via infill:
https://www.theage.com.au/national/victoria/state-government-weighs-new-...
While I don't know Melbourne too well, I do know Perth. Do you know how much fun the morning traffic is South Perth near on ramps at the Narrows and Heirisson Island sides into the CBD, and at the Canning Bridge? There's a lot of small block townhouses built on the feed-in roads, and now apartment towers so a lot more people commuting in, and yes, many of them still drive.
This will not help in re-greening the city to lower temperatures with mature, shady trees - as we've seen in our threads, this can be a 20 degree difference on the same day in the next street! Concrete makes it hotter!
RBA board set to lose power to set interest rates:
Haha, what could possibly go wrong, stack the new decision making body with crew who consider what's popular, house prices to Mars!
Greens may be into something here.
https://thenewdaily.com.au/news/2023/04/26/rent-freeze-greens-housing-pa...
“The rent freeze and extra money for social housing will be offset by phasing out negative gearing and removing capital gains tax breaks for people with more than one investment property.”
$37M record for Byron.
https://www.realestate.com.au/news/hemsworth-kidman-linked-to-byron-bays...
And no, apparently it wasn't Hemsworth or Kidman.
"The vendors of the Coopers Shoot property were Tom and Emma Lane, of the Oroton fashion empire, who live in the southern highlands.
They’d bought the Coopers Shoot acreage for $3.8m in 2017 and rebult".
3.8m in 2017, 37m in 2023.
Doesn't sound like a property crash to me.
That acreage along the ridge line could be bought for 100 grand or so 20 years ago.
Quite a few well known surfers live up there.
I remember in late 90s early 2000's going and staying with an X girl friend who was staying on this acreage type property kinda tucked up on the hill a few minutes drive from Lennox, some how this guy had come across big money and got this place for about $250K.
At the time it seemed crazy to pay that much, as awesome as the spot was, mist be worth crazy money now if hasn't been sub divided that is.
Any of the bears on here: DonW, Kaiser, etc etc still seeing a big property price fall in 2023?
My take is the very, very mild correction is over now and it's up, up and away once the RBA ceases this tightening cycle.
The primo blue chip stuff around here doesn't seem to have been effected at all, seems it's the contrary. shit's going ballistic.
Hate to think what that whole ridge in the centre of Lennox will sell for.
The basic stuff especially the entry level dipped about 10/15% from the pandemic peak but I suspect at the first whiff of a plateau in interest rates, and considering the population growth floodgates opening again, there'll be a lot more interested buyers.
There's definitely no shortage of money and wealth out there.
At my mum's house at the moment, she's had it valued at 1.3 mill. It's not a mansion compared to the rest of this area but how can anyone with a house wife with a part time job and looking after kids and a hard working tradie who also surf a couple days a week afford a house over 1 mill? So many nice two,three story houses some pools, I haven't seen a car besides my own older than 2006. These were people I saw 15 20 years ago some using two pokies at the same time on maximum bets spending 200 300 a night on piss..How do people afford to live in Cronulla these days?
Guess the nightlife sucks now so people are wiser with savings.
House prices - going to go up , down or sideways ?
Opinions and anecdotal stories if you could.
Cheers