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Pomms/Aussies Obsessed By Property
Having read many posts, and being on the property market many times, I get the feeling we a re nations obsessed by property and status.
We all need somwhere to live granted, but cant help feeling our obsession is fuelling the market and DIY stores. Just an observation. |
Re: Pomms/Aussies Obsessed By Property
Originally Posted by on a mission
(Post 5162539)
Having read many posts, and being on the property market many times, I get the feeling we a re nations obsessed by property and status.
We all need somwhere to live granted, but cant help feeling our obsession is fuelling the market and DIY stores. Just an observation. |
Re: Pomms/Aussies Obsessed By Property
And the ordinary joe, spends 30 years paying it back to a bank, just to leave it to their kids,
sounds a great plan to me, with the current prices and interst rates.... |
Re: Pomms/Aussies Obsessed By Property
Originally Posted by on a mission
(Post 5162539)
Having read many posts, and being on the property market many times, I get the feeling we a re nations obsessed by property and status.
We all need somwhere to live granted, but cant help feeling our obsession is fuelling the market and DIY stores. Just an observation. I will say this, some people seem to want more out of a house than they need (the 'perfect' area, the 'media room', the pool, etc) and this will not help the housing situation ... More Aspiration = Bigger Loan = Harder To Make Repayments = Credit Card Debts = Realisation That They Didn't Need The Plasma TV = Realisation That THINGS Don't Make You Happy = Defaulting On Loan = Divorce = Unhappiness All Round. Probably ;) |
Re: Pomms/Aussies Obsessed By Property
Originally Posted by on a mission
(Post 5162568)
And the ordinary joe, spends 30 years paying it back to a bank, just to leave it to their kids,
sounds a great plan to me, with the current prices and interst rates.... Hey feel free to buy someones house for them though, to be truthful renting is more likely to feed banks profits, because most buy to lets in Aus at least, are interest only loans. |
Re: Pomms/Aussies Obsessed By Property
Originally Posted by Vim Fuego
(Post 5162582)
Probably broadly accurate, no different in most 'developed' countries though, I'd imagine.
I will say this, some people seem to want more out of a house than they need (the 'perfect' area, the 'media room', the pool, etc) and this will not help the housing situation ... More Aspiration = Bigger Loan = Harder To Make Repayments = Credit Card Debts = Realisation That They Didn't Need The Plasma TV = Realisation That THINGS Don't Make You Happy = Defaulting On Loan = Divorce = Unhappiness All Round. Probably ;) you are dam right mate, I had it all, pool sea views and a fk off debt that meant i could nothing else, and half the house empty!!!! typical mentality of keeping up with the jones's Personally hindsight i was happier in my 3 bed unit, with cash to do what i wanted and when. suppose we could argue this all day, |
Re: Pomms/Aussies Obsessed By Property
And negative gearing is the big seller. Lose money while you rental out your 5 properties, claim it back against your income tax, and pay no tax while your investment value grows
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Re: Pomms/Aussies Obsessed By Property
Originally Posted by on a mission
(Post 5162602)
Vim,
you are dam right mate, I had it all, pool sea views and a fk off debt that meant i could nothing else, and half the house empty!!!! typical mentality of keeping up with the jones's Personally hindsight i was happier in my 3 bed unit, with cash to do what i wanted and when. suppose we could argue this all day, Sure, I spent some of the cash actually treading the path to get here (and if I hadn't got into debt then I wouldn't be here, perversely) but in the end it was a long lesson in discovering that the pursuit of things is not the way to go. For me anyway ... I'm sure other people have different aims in life and good luck to them too. This is what gets me sometimes about the immigration thing, is it just another thing to pursue (the 'If I get there I will finally be happy' mentality)? Is it driven from within or has it been marketed? And in the end ... does it matter? You can tell I have some free time before I go off and play trivia :D Hey, a bar open after 9pm on a Wednesday in Brisbane ... whodathunkit?! |
Re: Pomms/Aussies Obsessed By Property
Originally Posted by on a mission
(Post 5162568)
And the ordinary joe, spends 30 years paying it back to a bank, just to leave it to their kids,
sounds a great plan to me, with the current prices and interst rates.... One of my mates have just taken out a 40 year mortgages! :curse: Amanda |
Re: Pomms/Aussies Obsessed By Property
I think there's slightly less of this over here. More people seem just as happy to rent and have money for leisure stuff, than own a house with a bloody great mortgage attached to it. It's probably going the UK way though. There's possibly more of a "live for today" mentality here which obviously has it's good and bad points.
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Re: Pomms/Aussies Obsessed By Property
Originally Posted by moneypen20
(Post 5162636)
I think there's slightly less of this over here. More people seem just as happy to rent and have money for leisure stuff, than own a house with a bloody great mortgage attached to it. It's probably going the UK way though. There's possibly more of a "live for today" mentality here which obviously has it's good and bad points.
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Re: Pomms/Aussies Obsessed By Property
Originally Posted by Amazulu
(Post 5162545)
People invest in property as it's a great way to make money.
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Re: Pomms/Aussies Obsessed By Property
Originally Posted by Vim Fuego
(Post 5162644)
There is a lot of 'build huge house on tiny block' around ... this I just can't get my head around. And luckily I don't have to :)
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Re: Pomms/Aussies Obsessed By Property
Originally Posted by Amazulu
(Post 5162545)
People invest in property as it's a great way to make money.
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Re: Pomms/Aussies Obsessed By Property
:thumbsup:
Originally Posted by on a mission
(Post 5162568)
And the ordinary joe, spends 30 years paying it back to a bank, just to leave it to their kids,
sounds a great plan to me, with the current prices and interst rates.... realistically my mortgage payments will become more affordable whilst your rent will go up year after year. When I retired i will have paid off my mortgage (hopefully) while you still have to fork out for your rent. Also I have no intension of leaving my house to my kids, I will down size and buy a big F off boat. They can buy their own property, I had to.:thumbsup: |
Re: Pomms/Aussies Obsessed By Property
Originally Posted by The S's
(Post 5162682)
:thumbsup:
Not really. realistically my mortgage payments will become more affordable whilst your rent will go up year after year. When I retired i will have paid off my mortgage (hopefully) while you still have to fork out for your rent. Also I have no intension of leaving my house to my kids, I will down size and buy a big F off boat. They can buy their own property, I had to.:thumbsup: :rofl::thumbsup: |
Re: Pomms/Aussies Obsessed By Property
Originally Posted by The S's
(Post 5162682)
:thumbsup:
Not really. realistically my mortgage payments will become more affordable whilst your rent will go up year after year. When I retired i will have paid off my mortgage (hopefully) while you still have to fork out for your rent. Also I have no intension of leaving my house to my kids, I will down size and buy a big F off boat. They can buy their own property, I had to.:thumbsup: Have told my kids that when I'm older I will sell my house (if I have one, lol) and travel the world :thumbup: |
Re: Pomms/Aussies Obsessed By Property
Originally Posted by The S's
(Post 5162682)
:thumbsup:
Not really. realistically my mortgage payments will become more affordable whilst your rent will go up year after year. When I retired i will have paid off my mortgage (hopefully) while you still have to fork out for your rent. Also I have no intension of leaving my house to my kids, I will down size and buy a big F off boat. They can buy their own property, I had to.:thumbsup: I'll be selling my house at a reduced rate, to all 4 of my kids jointly, paying them rent at a lower rate, signed sealed and dotted and crossed by a solicitor.. This will ensure that there will be no nursing home "entry' fees (current law) to ever be paid by myself or my wife. The amount I will sell them will be determined by how much government pension is available on top of our super funds, which will be placed into an annuity. With the funds from the house going to the max figure where one can still claim the maximum government pension. That loophole will probably be stopped by the next incoming government unfortunately. |
Re: Pomms/Aussies Obsessed By Property
Originally Posted by datamile
(Post 5162628)
And negative gearing is the big seller. Lose money while you rental out your 5 properties, claim it back against your income tax, and pay no tax while your investment value grows
I'm all for making money, but i wouldn't let it take over my life. I want to enjoy it while i can without worrying how much more i can make all the time. |
Re: Pomms/Aussies Obsessed By Property
Originally Posted by Nu-Shooz
(Post 5162857)
I never did understand negative gearing:confused: it scares me.
I'm all for making money, but i wouldn't let it take over my life. I want to enjoy it while i can without worrying how much more i can make all the time. |
Re: Pomms/Aussies Obsessed By Property
Originally Posted by ozzieeagle
(Post 5162764)
I'll be selling my house at a reduced rate, to all 4 of my kids jointly, paying them rent at a lower rate, signed sealed and dotted and crossed by a solicitor.. This will ensure that there will be no nursing home "entry' fees (current law) to ever be paid by myself or my wife.
The amount I will sell them will be determined by how much government pension is available on top of our super funds, which will be placed into an annuity. With the funds from the house going to the max figure where one can still claim the maximum government pension. That loophole will probably be stopped by the next incoming government unfortunately. |
Re: Pomms/Aussies Obsessed By Property
Originally Posted by ozzieeagle
(Post 5162764)
I'll be selling my house at a reduced rate, to all 4 of my kids jointly, paying them rent at a lower rate, signed sealed and dotted and crossed by a solicitor.. This will ensure that there will be no nursing home "entry' fees (current law) to ever be paid by myself or my wife.
The amount I will sell them will be determined by how much government pension is available on top of our super funds, which will be placed into an annuity. With the funds from the house going to the max figure where one can still claim the maximum government pension. That loophole will probably be stopped by the next incoming government unfortunately. I still prefer the big F$#K off boat option:thumbup: |
Re: Pomms/Aussies Obsessed By Property
Originally Posted by The S's
(Post 5162966)
Jeeeez, you've really thought about this one hey.
I still prefer the big F$#K off boat option:thumbup: yeh sod the kids:eek::thumbsup::lol: |
Re: Pomms/Aussies Obsessed By Property
Yeah but then the greedy little bastards get the boat too when you pop your clogs:rofl:
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Re: Pomms/Aussies Obsessed By Property
Originally Posted by chrisandvee
(Post 5162998)
Yeah but then the greedy little bastards get the boat too when you pop your clogs:rofl:
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Re: Pomms/Aussies Obsessed By Property
Originally Posted by chrisandvee
(Post 5162998)
Yeah but then the greedy little bastards get the boat too when you pop your clogs:rofl:
I will leave it to a band of Indonesian people traffickers for a bag of jakarta wacky baccy:thumbsup: Or I could sell it to Mercedes Corby so she could break her "innocent" drug mule sister out. |
Re: Pomms/Aussies Obsessed By Property
Originally Posted by Vim Fuego
(Post 5162629)
This is what gets me sometimes about the immigration thing, is it just another thing to pursue (the 'If I get there I will finally be happy' mentality)?
"Tucked away in our subconscious minds is an idyllic vision. We see ourselves on a long, long trip that almost spans the continent. We're traveling by passenger train, and out the windows we drink in the passing scene of cars on nearby highways, of children waving at a crossing, of cattle grazing on a distant hillside, of smoke pouring from a power plant, of row upon row of corn and wheat, of flatlands and valleys, of mountains and rolling hills, of biting winter and blazing summer and cavorting spring and docile fall. But uppermost in our minds is the final destination. On a certain day at a certain hour we will pull into the station. There sill be bands playing, and flags waving. And once we get there so many wonderful dreams will come true. So many wishes will be fulfilled and so many pieces of our lives finally will be neatly fitted together like a completed jigsaw puzzle. How restlessly we pace the aisles, damning the minutes for loitering ... waiting, waiting, waiting, for the station. However, sooner or later we must realize there is no one station, no one place to arrive at once and for all. The true joy of life is the trip. The station is only a dream. It constantly outdistances us. "When we reach the station, that will be it !" we cry. Translated it means, "When I'm 18, that will be it ! When I buy a new 450 SL Mercedes Benz, that will be it ! When I put the last kid through college, that will be it ! When I have paid off the mortgage, that will be it ! When I win a promotion, that will be it ! When I reach the age of retirement, that will be it ! I shall live happily ever after !" Unfortunately, once we get it, then it disappears. The station somehow hides itself at the end of an endless track. "Relish the moment" is a good motto, especially when coupled with Psalm 118:24: "This is the day which the Lord hath made; we will rejoice and be glad in it." It isn't the burdens of today that drive men mad. Rather, it is regret over yesterday or fear of tomorrow. Regret and fear are twin thieves who would rob us of today. So, stop pacing the aisles and counting the miles. Instead, climb more mountains, eat more ice cream, go barefoot oftener, swim more rivers, watch more sunsets, laugh more and cry less. Life must be lived as we go along. The station will come soon enough.:" The Station by Robert J. Hastings |
Re: Pomms/Aussies Obsessed By Property
Originally Posted by tictac
(Post 5163057)
Indeed...........
"Tucked away in our subconscious minds is an idyllic vision. We see ourselves on a long, long trip that almost spans the continent. We're traveling by passenger train, and out the windows we drink in the passing scene of cars on nearby highways, of children waving at a crossing, of cattle grazing on a distant hillside, of smoke pouring from a power plant, of row upon row of corn and wheat, of flatlands and valleys, of mountains and rolling hills, of biting winter and blazing summer and cavorting spring and docile fall. But uppermost in our minds is the final destination. On a certain day at a certain hour we will pull into the station. There sill be bands playing, and flags waving. And once we get there so many wonderful dreams will come true. So many wishes will be fulfilled and so many pieces of our lives finally will be neatly fitted together like a completed jigsaw puzzle. How restlessly we pace the aisles, damning the minutes for loitering ... waiting, waiting, waiting, for the station. However, sooner or later we must realize there is no one station, no one place to arrive at once and for all. The true joy of life is the trip. The station is only a dream. It constantly outdistances us. "When we reach the station, that will be it !" we cry. Translated it means, "When I'm 18, that will be it ! When I buy a new 450 SL Mercedes Benz, that will be it ! When I put the last kid through college, that will be it ! When I have paid off the mortgage, that will be it ! When I win a promotion, that will be it ! When I reach the age of retirement, that will be it ! I shall live happily ever after !" Unfortunately, once we get it, then it disappears. The station somehow hides itself at the end of an endless track. "Relish the moment" is a good motto, especially when coupled with Psalm 118:24: "This is the day which the Lord hath made; we will rejoice and be glad in it." It isn't the burdens of today that drive men mad. Rather, it is regret over yesterday or fear of tomorrow. Regret and fear are twin thieves who would rob us of today. So, stop pacing the aisles and counting the miles. Instead, climb more mountains, eat more ice cream, go barefoot oftener, swim more rivers, watch more sunsets, laugh more and cry less. Life must be lived as we go along. The station will come soon enough.:" The Station by Robert J. Hastings |
Re: Pomms/Aussies Obsessed By Property
Originally Posted by The S's
(Post 5162966)
Jeeeez, you've really thought about this one hey.
I still prefer the big F$#K off boat option:thumbup: |
Re: Pomms/Aussies Obsessed By Property
Originally Posted by sonlymewalter
(Post 5162962)
I looked at doing same m8. Accountant said our kids might end up paying 48% Tax if it is seen as there second home in other woprds an investment. You might get around it if you give;) it to your kids 7 years before you pop yur clogs ;)
Yes must ask about that aspect, dont want to cripple them. |
Re: Pomms/Aussies Obsessed By Property
Originally Posted by tictac
(Post 5163057)
Indeed...........
"Tucked away in our subconscious minds is an idyllic vision. We see ourselves on a long, long trip that almost spans the continent. We're traveling by passenger train, and out the windows we drink in the passing scene of cars on nearby highways, of children waving at a crossing, of cattle grazing on a distant hillside, of smoke pouring from a power plant, of row upon row of corn and wheat, of flatlands and valleys, of mountains and rolling hills, of biting winter and blazing summer and cavorting spring and docile fall. But uppermost in our minds is the final destination. On a certain day at a certain hour we will pull into the station. There sill be bands playing, and flags waving. And once we get there so many wonderful dreams will come true. So many wishes will be fulfilled and so many pieces of our lives finally will be neatly fitted together like a completed jigsaw puzzle. How restlessly we pace the aisles, damning the minutes for loitering ... waiting, waiting, waiting, for the station. However, sooner or later we must realize there is no one station, no one place to arrive at once and for all. The true joy of life is the trip. The station is only a dream. It constantly outdistances us. "When we reach the station, that will be it !" we cry. Translated it means, "When I'm 18, that will be it ! When I buy a new 450 SL Mercedes Benz, that will be it ! When I put the last kid through college, that will be it ! When I have paid off the mortgage, that will be it ! When I win a promotion, that will be it ! When I reach the age of retirement, that will be it ! I shall live happily ever after !" Unfortunately, once we get it, then it disappears. The station somehow hides itself at the end of an endless track. "Relish the moment" is a good motto, especially when coupled with Psalm 118:24: "This is the day which the Lord hath made; we will rejoice and be glad in it." It isn't the burdens of today that drive men mad. Rather, it is regret over yesterday or fear of tomorrow. Regret and fear are twin thieves who would rob us of today. So, stop pacing the aisles and counting the miles. Instead, climb more mountains, eat more ice cream, go barefoot oftener, swim more rivers, watch more sunsets, laugh more and cry less. Life must be lived as we go along. The station will come soon enough.:" The Station by Robert J. Hastings |
Re: Pomms/Aussies Obsessed By Property
Originally Posted by on a mission
(Post 5162568)
And the ordinary joe, spends 30 years paying it back to a bank, just to leave it to their kids,
sounds a great plan to me, with the current prices and interst rates.... Because of owning and investing in property I plan to retire by age 48, have 80% of my retirement income sorted, have no debts, no mortgage and can pay cash for most of the things I want in life. Oh, and I am happy, love my family and reckon I am a pretty nice guy. I've said it before, and I'll keep on saying it - materialism is good |
Re: Pomms/Aussies Obsessed By Property
Originally Posted by aston man
(Post 5162663)
lucky us eh mate,what an investment we have made,money well spent in my book..i wouldnt swap my investment for the world..
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Re: Pomms/Aussies Obsessed By Property
Work hard play hard my friend. People want different things out of life, i want it all :)
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Re: Pomms/Aussies Obsessed By Property
Originally Posted by rabsody
(Post 5162650)
Ownership of property is one of the fundamental principles of the liberal ideologies that underpin western beliefs. (i've just been at my politics lecture! ;))
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Re: Pomms/Aussies Obsessed By Property
Originally Posted by Amanda Jayne
(Post 5162630)
One of my mates have just taken out a 40 year mortgages! :curse:
Amanda |
Re: Pomms/Aussies Obsessed By Property
Originally Posted by ozzieeagle
(Post 5162658)
Gardens = work, which eats into leisure time, thats most probably the biggest factor in people accepting the small outdoor areas.
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Re: Pomms/Aussies Obsessed By Property
Many Western communities are trapped in the getrichquick mentality, and Oz is IMO the leader in this.
Yes, housing *has* been a way to supeficially make money in the past: I myself have benefitted from this over the years although I buy a house to live in, not with the objective of making a mint. But the cycle cannot go on indefinitely without something giving, any more than buying and selling tulip bulbs or penny shares can. Thirty years ago personal debt - including mortgages - was around the 25% of overall income. Now it's 150% and rising. I think you can tell a lot about the state of people's personal economies by looking at the reaction to a rise in interest rates. In a sane economy a half percent rise doesn't really provoke a strong reaction. In Australia it's as if the sky has fallen down: fall on your swords everyone! The trouble is, the mentality is so entrenched that government action always seems to be in the wrong direction, stoking up the problem and hoping it will go away. "Tax relief on 'investment' homes", raise the FHOG etc etc: all these do is push up the price of housing even more away from what people *should* be able to afford. Housing is a fundamental need, like air and food. When I see people crowing over an increase in the price of groceries because they feel they can sell the contents of their fridges to someone else at a profit I will believe in this great property cash cow: until then I am deeply sceptical of the direction we are going. |
Re: Pomms/Aussies Obsessed By Property
Originally Posted by Amazulu
(Post 5162545)
People invest in property as it's a great way to make money.
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Re: Pomms/Aussies Obsessed By Property
I'm with the Eagle on that one I had a huge house on a medium sized block with hardly any garden.
Even that small bit of gardening eventually gave me the shits so we now live in a unit (with zero garden) in the city. :thumbsup: We also have a couple of investment properties which we wouldnt swap for the world (at the moment). It seems the perfect way for your moeny to be invested with the current growth.
Originally Posted by annqldau
(Post 5164507)
The garden is supposed to be leisure time even the looking after it, you're supposed to enjoy the planting, pruning etc. not look on it as a chore.
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