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It proves only one thing.
The rich get richer and the poor get poorer.
I disagree but also read my disclaimeri think that's bad advice
Again,I disagree because if people wait and 12 months later they still qualify for a loan the interest rate will be higher so the amount they'll be able to borrow would be reduced. Unless they only want to buy the windows....my advice to a FHB woudl be to buy when IRs are high.
It proves only one thing.
The rich get richer and the poor get poorer.
Ooooooh! I really like this one! Can I use it, can I, can I?poor is selling your time.
rich is owning your time.
i realy hate this quote, !!!
i see it as the rich get richer because the poor are financially illiterate,
Years ago, the FHB's went along to the Bank wearing their Sunday Best suit, with cap in hand asking for an 80% loan after saving their deposit from years of sacrifice.
Then, they put sheets up on the windows for curtains, and saved for more years for the fences and the gardens, and drove or public transported it from their little 2 or 3 bed home with one bathroom and no garage into work from the outskirts of civilisation.
They sat on second hand furniture and went without - no credit cards back then, and no Harvey Norman 3 year interest free terms.
yep i still remember the milk crate dinning chairs, we first bought heaps of crap furniture, all different, coffee table, sideboards etc, and i sanded the lot back and spraypainted it all, about 6 items with gloss tractor enamel "white" it looked awsome, the things we did back then compared to now was so different than todays generation, and it shows , if i did'nt help my mum and dad to paint the house , build fences, remove old tiles and stoves i would have had my *** kicked so hard , but i am so glad now i did those things, Thanks mum, and dad, !
So has there been a structural shift in the market? Was it possible (say twenty years ago) to buy a house that would suit a couple for a lifetime, whereas now a first time buyer will struggle to get a unit. If that's the case, then it's a very big change.
Also, given that 20 - 25% of market activity is from first timers, can prices actually rise to a level where they're forever priced out? Are there enough investors to prop up the bottom end of the market? (That's what happened in the UK.)
So has there been a structural shift in the market? Was it possible (say twenty years ago) to buy a house that would suit a couple for a lifetime, whereas now a first time buyer will struggle to get a unit. If that's the case, then it's a very big change.
Also, given that 20 - 25% of market activity is from first timers, can prices actually rise to a level where they're forever priced out? Are there enough investors to prop up the bottom end of the market? (That's what happened in the UK.)
Hey Craig, funny that most of us did those things back when housing was soooo much cheaper
A lot of people are rich because of who they KNOW, not what they know. It's WHO YOU KNOW that lands the contracts (e.g. brisbane airport link, 2nd bridge, etc).....let me be more specific ---> its who you PAY OFF who gets you the contract.Yes, me too.
It is true that the rich get richer, but it's because they are constantly learning more financial stuff, and then implementing it. Maybe put a little risk on it, and take a bit of a punt as well, but it's an educated risk for most.
They see an opportunity and act.
The poor have no or little financial stuff, and never bother to go out and find it and/or use it, instead making lame excuses.
See my sig.
... and rising, and rising...i reckon it's very possible.
not everyone will be able to afford a house. apparently that's near-on criminal in this country.
Robert Gottliebsen said:On their own these events will not change national savings patterns, but if we take a step back it's suddenly clear why the landscape is likely to change dramatically. The Triguboff argument is that higher interest rates will slow down the rate of building construction at a time when the population is rising dramatically. That means that we are building up an even greater long-term housing shortage – a powder keg which after seven relatively stagnant years is set to explode. The trigger is likely to be pulled by Treasurer Wayne Swan who has slashed the amount people can invest tax effectively in superannuation. Many will swing back to highly leveraged dwellings.
As investors return to the residential market, prices will edge up and home ownership will become tougher and tougher in most areas of Australia. In some cities such as Melbourne enormous amounts of new land is being brought onto the market and this may hold back values to some degree. Nevertheless the investor demand will be very strong.
My guess is that once the government wakes up to what is happening they will curb the interest deductibility rules, but that will create even greater shortages.
Few countries have a higher home ownership rate than Australia. Over the next five years the events of the last two weeks have set us on a course that will reduce the home ownership proportion and residential renting will become greater. That’s a nation-changing event.