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Expensive real estate blamed on immigrants....

Expensive real estate blamed on immigrants....

Old Jan 16th 2010, 9:12 pm
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Default Expensive real estate blamed on immigrants....

Go ahead and blame the migrants....

I mean, I am sure there are some but....how many migrants do you know who arrived within the past 5 years can afford to buy 5 houses?

http://www.news.com.au/money/propert...-1225820461473
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Old Jan 16th 2010, 9:30 pm
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Default Re: Expensive real estate blamed on immigrants....

Thats the most weakly argued piece I've read in the last few days. The number of visas went up in a five year period and so did the house prices, therefore the migrants are to blame. Nope.

What more to might truthful is to suggest that there is an infrastructure crisis which makes only a tiny proportion of our country desirable to live in and way too many people wanting to live there.

But heck - why let facts get in the way of a good migrant bashing.
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Old Jan 16th 2010, 10:32 pm
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Default Re: Expensive real estate blamed on immigrants....

Originally Posted by Centurion

But heck - why let facts get in the way of a good migrant bashing.
My aussie FIL in melbs latest rant is the Chinese have bought all our houses however he plans to sell soon and hopes one of them will pay him a couple of mill for his place
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Old Jan 16th 2010, 11:12 pm
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Default Re: Expensive real estate blamed on immigrants....

Originally Posted by obiwan
Go ahead and blame the migrants....

I mean, I am sure there are some but....how many migrants do you know who arrived within the past 5 years can afford to buy 5 houses?

http://www.news.com.au/money/propert...-1225820461473
This is exactly what has happened in Cape Town.
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Old Jan 17th 2010, 4:51 am
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Default Re: Expensive real estate blamed on immigrants....

I posted a comment. I strongly doubt they'll publish it however, so here it is:
The weakest, most pathetic and illogical article I've read in a long time. House prices have gone up, the number of skilled migrants arriving has gone up too. Therefore, skilled migrants are the cause?

Guess what? The number of male circumcisions carried out over the last 10 years has risen year-on-year too. So by your infantile logic - circumcised boys are the cause of rising house prices.

Or here's a good one. The number of homeless people has fallen by 5,000 over the last 10 years. Therefore it's those idiot homeless people who've caused the house price rises over the last decade.

Or how about this one. The prison population has risen by 50% over the last 10 years - therefore criminals are the reason house prices has risen.

Honestly, what a crock. How about you start employing real journalists and not naive simpletons whose only skill is 80wpm and a degree in fiction.
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Old Jan 17th 2010, 5:06 am
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Default Re: Expensive real estate blamed on immigrants....

Originally Posted by Hutch
I posted a comment. I strongly doubt they'll publish it however, so here it is:
The weakest, most pathetic and illogical article I've read in a long time. House prices have gone up, the number of skilled migrants arriving has gone up too. Therefore, skilled migrants are the cause?

Guess what? The number of male circumcisions carried out over the last 10 years has risen year-on-year too. So by your infantile logic - circumcised boys are the cause of rising house prices.

Or here's a good one. The number of homeless people has fallen by 5,000 over the last 10 years. Therefore it's those idiot homeless people who've caused the house price rises over the last decade.

Or how about this one. The prison population has risen by 50% over the last 10 years - therefore criminals are the reason house prices has risen.

Honestly, what a crock. How about you start employing real journalists and not naive simpletons whose only skill is 80wpm and a degree in fiction.
Why wouldn't they publish that?
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Old Jan 17th 2010, 5:24 am
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Default Re: Expensive real estate blamed on immigrants....

Originally Posted by jad n rich
My aussie FIL in melbs latest rant is the Chinese have bought all our houses however he plans to sell soon and hopes one of them will pay him a couple of mill for his place
This topic came up about 4 months ago I recall...

http://britishexpats.com/forum/showt...se#post7993540
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Old Jan 17th 2010, 6:10 am
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Default Re: Expensive real estate blamed on immigrants....

Originally Posted by obiwan
Go ahead and blame the migrants....

I mean, I am sure there are some but....how many migrants do you know who arrived within the past 5 years can afford to buy 5 houses?

http://www.news.com.au/money/propert...-1225820461473
The agents (and their selling agents the papers) need an excuse they can use to make out their is substance to their long term double digit growth forecasts.

I give them a single digit They arent crossed digits
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Old Jan 17th 2010, 6:31 am
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Default Re: Expensive real estate blamed on immigrants....

You can set expenses for letting against tax in the UK.

Not sure what the guy quoted in the article meant. He said something about being able to set rental losses against tax in Australia, whatever that means, but not in the UK.
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Old Jan 17th 2010, 6:40 am
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Default Re: Expensive real estate blamed on immigrants....

Originally Posted by Red Cloud
You can set expenses for letting against tax in the UK.

Not sure what the guy quoted in the article meant. He said something about being able to set rental losses against tax in Australia, whatever that means, but not in the UK.
In Aus you can put any loses against your full tax bill so if you rent a place out for $500 a week and it costs you $1000 a week (mortgage, agent fees etc.) then the $500 "loss" can be sent against the tax you pay on your income from your PAYG day job. For highest rate tax payers that means that they can get 45% of this loss back in a tax reduction.

Also here once you have owned the property for more than a year your capital gains tax amount is halved on selling.
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Old Jan 17th 2010, 8:58 am
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Default Re: Expensive real estate blamed on immigrants....

Originally Posted by Hutch
I posted a comment. I strongly doubt they'll publish it however, so here it is:
The weakest, most pathetic and illogical article I've read in a long time. House prices have gone up, the number of skilled migrants arriving has gone up too. Therefore, skilled migrants are the cause?

Guess what? The number of male circumcisions carried out over the last 10 years has risen year-on-year too. So by your infantile logic - circumcised boys are the cause of rising house prices.

Or here's a good one. The number of homeless people has fallen by 5,000 over the last 10 years. Therefore it's those idiot homeless people who've caused the house price rises over the last decade.

Or how about this one. The prison population has risen by 50% over the last 10 years - therefore criminals are the reason house prices has risen.

Honestly, what a crock. How about you start employing real journalists and not naive simpletons whose only skill is 80wpm and a degree in fiction.
Post hoc ergo propter hoc. The journalist who wrote it might know what that was if they ever went to university.
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Old Jan 17th 2010, 9:02 am
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Default Re: Expensive real estate blamed on immigrants....

Originally Posted by Red Cloud
You can set expenses for letting against tax in the UK.

Not sure what the guy quoted in the article meant. He said something about being able to set rental losses against tax in Australia, whatever that means, but not in the UK.
In the UK you can set expenses (agents' fees, loan interest etc) against the rental returns but not against your PAYE as is the case in Aus.

I love the quote about the Pom becoming obsessed with buying property after arriving here, thats the reason most come in the first place
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Old Jan 17th 2010, 9:03 am
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Default Re: Expensive real estate blamed on immigrants....

Originally Posted by woodiesinaus
I love the quote about the Pom becoming obsessed with buying property after arriving here, thats the reason most come in the first place
and the locals are not?
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Old Jan 17th 2010, 9:06 am
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Default Re: Expensive real estate blamed on immigrants....

Originally Posted by Geelong Gent
and the locals are not?
With the poms, it's a hobby. With the locals...it's business
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Old Jan 17th 2010, 9:17 am
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Default Re: Expensive real estate blamed on immigrants....

Originally Posted by woodiesinaus
With the poms, it's a hobby. With the locals...it's business
Keeping up with the Jones's is now business?
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