Left wing political group orchestrating home buyers strike...

wylie said:
For those posters who think it is unfair that house prices continue to rise through the years.....

I wonder if when you finally get your own house, when you decide to sell down the track whether you would consider selling it for less than its market value so that the next generation has a chance to buy in at less than market value?

Surely, if there were enough of you who did that, the market would adjust and prices would stop going up.
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not a chance of that happening mate ;)
 
i am not too sure why everyone is complaining the house is not affordable here in australia. it is still affordable and it just needs little bit hardwork and some sacrifices.

we have 2 properties and we are single income family, having a little girl recently and wifey has decided to take few years off from working. I have to admit our first property does get some help from my wife's income to get it approved by bank, but this is when the interest rate is at 9 something percent.

i admit i made mistake buying the first property (turned into IP now and losing 100 perweek!) as i bought it at the peak of the market, and learned all the lesson there we secure second IP that is breaking even at the moment (cant find positive geared around at the moment, or just havent looked hard enough?)

when i was in sydney, it does look frightening to see some apartments in chatswood selling for 700k etc, but maybe you just need to look at different suburbs? lane cove, even north ryde you can buy a house for less than 700k (what's going on chatswood?!!)

or brisbane, moving down abit, 20 mins from city you have underwood, rochedale, springwood etc and you still can secure houses for less than 400k. you dont need to live in norman park and milton!

and for 400-500k, it's really cheap to have a house where you can have land for your pets and kids to play on. I bought an HDB in singapore for 320k and it's like half the size of the house here, no parking space (you have to pay), very old building (12 years) and 99 years later it wouldnt be mine anymore (thinking of selling it but still quite far to go before it reach 99 years!). and dont let me start on hong kong's property!

the point i am making here, if i can do it on single income (mind you im only on 85k annually) with wife and kid to support, i failed to see why someone else with both parents working cant afford a property? surely they will earn higher income than our family?

btw i have no intention to poke at anyone, no offense at all, as i am just trying to figure what difficulties others are facing
 
wylie said:
For those posters who think it is unfair that house prices continue to rise through the years.....

I wonder if when you finally get your own house, when you decide to sell down the track whether you would consider selling it for less than its market value so that the next generation has a chance to buy in at less than market value?
.
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No need for huge increases. I'll save 50k wait till I earn about 1.1k a week take home. Cover the payments confortably, rent out a room to pay extra off the mortgage, interest payments will go down, wage will go up it is a win win situation.

If prices remain stagnant then that ok too, just means I'll be able to afford an IP quicker and get it positively geared.

Houses should increase by no more than maybe 2% per year and that is PLENTY of increase.
 
Beebop said:
Houses should increase by no more than maybe 2% per year and that is PLENTY of increase.
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Yeah and according to Prof. Keen house prices should have gone down by 40%.

Fortunately, (or unfortunately for you both), the market is not listening to either of you, and just keeps doing what it has always done.

You'd be better advised to go down to the beach and see if you can hold back the tide with a stick :p
 
wylie said:
I wonder if when you finally get your own house, when you decide to sell down the track whether you would consider selling it for less than its market value so that the next generation has a chance to buy in at less than market value?
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You have the right to your capital gains, just as the non-home owner has the right to avoid buying until prices fall to a more reasonable level.

Personally I don't see what the big fuss is about on here. If I thought the strike was relevant to users on this forum then I probably would have started the thread myself :)

Propertunity said:
Yeah and according to Prof. Keen house prices should have gone down by 40%.
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That's a misrepresentation of Keen's view.

Propertunity said:
You'd be better advised to go down to the beach and see if you can hold back the tide with a stick :p
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That's a pretty funny analogy, I'll pay that :D
 
Propertunity said:
That may well be right. I stopped listening to anything he had to say when he was on his walk up the mountain and he was still professing his correctness.
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Should we stop listening to anyone here that suggests house prices are going up over the long term because they are falling at the moment? Same thing.
 
GoingDHfast said:
Hi Guys,

Thought I'd draw this to everyones attention, the Leftie group GetUp! has finally had enough of renting so they are attempting to bring down property prices through an organized property boycott.

http://suggest.getup.org.au/forums/...5687-first-home-buyers-property-buyers-strike

Also they tried to add their campaign to this page but I've removed it, does anyone know more about Wikipedia rules to stop this being added (its blatant self promotion of their own cause and not relevent to the page but not sure which Wikipedia rules this breaks?)
http://en.wikipedia.org/wiki/Australian_property_bubble
http://en.wikipedia.org/w/index.php?title=Australian_property_bubble&action=history

Hopefully this crap doesn't hit the newspapers but knowing The Age in Melbourne it will probably be front page next week... :mad:
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What are you worried about?

There is a housing shortage.....
 
GoingDHfast said:
Hopefully this crap doesn't hit the newspapers but knowing The Age in Melbourne it will probably be front page next week... :mad:
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In the paper today...

Property market slump? Blame me.

some egotistical self-promoting tool said:
Before throwing the discussion over to commenters, there’s been an interesting development in the property sector over the last couple of weeks that gaining traction in the online community.

Social media networks have been buzzing about a call for a “buyers strike”, which was originally put out by Prosper Australia.

The goal is to cause a market correction that will see affordability improve and, in a related campaign, put an end to negative gearing policies.

Economist Steve Keen has come out in support and, to date, the strike call has attracted about 3179 votes on GetUp! (now ranked #1) and about 243 likes on Facebook, plus scores and scores of comments.
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And another headlined article now too...

Online campaign targets high cost of housing

Chris Zappone said:
It's the sort of social media campaign that sends shivers through people trying to sell their houses in a flat property market.

Prosper Australia, a little-known group which supports tax reform on land, has ignited a small but growing online push calling for a "buyers' strike" to protest against the high cost of housing.
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Some nice comments and an interesting poll result with this second article...

Cheers,
Michael
 
Last edited:
Win/Win.

Either entertainment value or buying opportunities:D

I wonder if Carbon tax advocates will go on a breathing strike until it's implemented too;)
 
myoung said:
I wonder if Carbon tax advocates will go on a breathing strike until it's implemented too;)
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Hahaha good job sir

The numbers are astronomical! 243 likes on facebook! Yep, a revolution is brewing.
I read that Market Slumping? Blame Me article, I got the impression that Chris Zappone likes to smell his own farts
 
InnerWestie said:
Incorrect, when Keen made the bet he specified an end date. Very different from the above example.
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Keen made two bets, one that house prices would be lower in 12 months (they weren't so he did the Mt K walk), another that prices would fall 40% over 10-15 years. He lost the first part only, yet Propertunity continues to refer to the 40% call being wrong when it was not (yet), I have corrected him on multiple occasions on this site. It's sad that an individual has to try and drag someone elses name through mud without good reason...
 
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