The Great Australian Property Swindle
Dec 7th 2010, 4:04 am
#226
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Re: The Great Australian Property Swindle
Dec 7th 2010, 4:18 am
#229
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Location: Brisbane
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Re: The Great Australian Property Swindle
Dec 7th 2010, 4:24 am
#230
Joined: Apr 2004
Location: High up in Joondalup.
Posts: 4,228
Re: The Great Australian Property Swindle
No I'm not buying to let, I bought my house a few yr ago now I'm moving interstate but as property prices are booming in my area and rentals are impossible to come by I would be crazy to sell it. I don't like living in rented so I will buy another house with the equity I have and the rental income from my current house.
Dec 7th 2010, 4:26 am
#231
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Joined: Mar 2009
Posts: 1,412
Re: The Great Australian Property Swindle
Once you rent your house out it becomes an investment. Your purpose of holding it is no longer for housing utility. It's not Buy-to-let as such, more hold-to-let.
As long as the the yield looks attractive I agree that you would be crazy to sell it, until you find someone willing to pay over the odds. As long as it yields you're value investing, once you refuse an offer that is detached from yields you're getting into the realm of greater fool investing.
It's your decision to buy in your new area that looks less clear cut to me. That is subjective though and depends on personal values.
As long as the the yield looks attractive I agree that you would be crazy to sell it, until you find someone willing to pay over the odds. As long as it yields you're value investing, once you refuse an offer that is detached from yields you're getting into the realm of greater fool investing.
It's your decision to buy in your new area that looks less clear cut to me. That is subjective though and depends on personal values.
Last edited by Steve2009; Dec 7th 2010 at 4:31 am.
Dec 7th 2010, 4:34 am
#232
Joined: Apr 2004
Location: High up in Joondalup.
Posts: 4,228
Re: The Great Australian Property Swindle
Once you rent your house out it becomes an investment. Your purpose of holding it is no longer for housing utility. It's not Buy-to-let as such, more hold-to-let.
As long as the the yield looks attractive I agree that you would be crazy to sell it, until you find someone willing to pay over the odds. As long as it yields you're value investing, once you refuse an offer that is detached from yields you're getting into the realm of greater fool investing.
It's your decision to buy in your new area that looks less clear cut to me. That is subjective though and depends on personal values.
As long as the the yield looks attractive I agree that you would be crazy to sell it, until you find someone willing to pay over the odds. As long as it yields you're value investing, once you refuse an offer that is detached from yields you're getting into the realm of greater fool investing.
It's your decision to buy in your new area that looks less clear cut to me. That is subjective though and depends on personal values.
Dec 7th 2010, 4:51 am
#237
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Joined: Mar 2009
Posts: 1,412
Re: The Great Australian Property Swindle
A reminder here for you. It doesn't look good, but it might be worth consulting a professional all the same.
Dec 7th 2010, 9:11 am
#238
Forum Regular
Joined: Dec 2010
Posts: 50
Re: The Great Australian Property Swindle
Steve Keen doesn't have a vested interest, that is, he's not an economist who works for Westpac, Commonwealth, NAB, etc who HAVE a vested interest in keeping optimism high because they rely on consumers borrowing more debt. Keen might perhaps want to make a name for himself by making far out predictions but I don't see Keen pushing books or public appearances or meeting/greeting the media. He gives the impression to me that he's just an economist because of the love of it, he doesn't embrace celebrity.
http://www.abc.net.au/iview/?series=...series/2955433
Cheers,
Tom Kline.
Last edited by Sue; Dec 7th 2010 at 12:09 pm. Reason: Link changed to go straight to the Drum page. No point linking to a thread elsewhere which links to the Drum. Thanks
Dec 8th 2010, 12:44 am
#239
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Location: Canada->WA->Melbourne
Posts: 1,612
Re: The Great Australian Property Swindle
When I rented it never really felt like home though, having to ask permission to hang a picture etc. and not being able to make any big changes to my "home"
Also the fact that changes in landlords circumstances, brought about by a property price crash for example, could result in having to move on.
All in all, I've always believed that owning was the better/ more secure option, regardless of financial arguments
Also the fact that changes in landlords circumstances, brought about by a property price crash for example, could result in having to move on.
All in all, I've always believed that owning was the better/ more secure option, regardless of financial arguments
The retic stopped working completely three weeks ago. We've phoned and sent emails, but they don't seem in a hurry to fix it. The agent told us just to hand water everything (all lawn and beds on this corner block) until it's repaired.
On the bright side, the tap that was leaking for fourteen months was finally fixed one week ago!
Honestly, there's more to renting than just financial aspects. When there's this much aggravation, it's a real incentive to get your own place, if you're in a position to be able to do so.
Dec 8th 2010, 1:06 am
#240
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Joined: Mar 2009
Posts: 1,412
Re: The Great Australian Property Swindle
I don't worry too much about inspections. What's the worst that will happen? The RTA is there to protect tenants.
Occasionally you have to fix things yourself in rentals which is a pain in the ass, but it's better than paying double for a mortgage in my opinion.
Occasionally you have to fix things yourself in rentals which is a pain in the ass, but it's better than paying double for a mortgage in my opinion.