Rents on Rampage - story in local paper

W

wylie

The headline on our local South-East Advertiser is "Rents on Rampage - Doctor blames investment perks".

Story tells of a 38 year old man with a PhD in marine biology who is one of the nation's leaders in his field, who delayed buying a house to further his career, which included fellowships overseas. His wife is an accountant and is the breadwinner while he elected to stay at home and take care of his three year old son.

There is a red banner under the story suggesting viewing of his blog at www.geocities.com/homes4aussies and asking "are you living a rental nightmare?" and calling for letters to the paper.

Surely he cannot just blame investors for his choices?
 
I recon we should write our own article. Tenents want free accomodation.. 50% discount to holding costs isn't cheap enough for them.
 
take one radical step further.. from now on landlords will not charge rent, but tenants have to pay the full interest cost instead.
 
feihong said:
take one radical step further.. from now on landlords will not charge rent, but tenants have to pay the full interest cost instead.
Click to expand...

i would be in on that one. add to that the out goings as well.. rates, water, insurance, repairs, loan fees, landlord insurance.
 
Sounds like the usual argument - investors are driving the prices up. I'd like for someone to show me how 30% of the market (investors) of which probably 80% (or even more?) only ever buy one IP can be the major driver for price-growth? :confused:

Wouldn't this mean that investor-dominated areas should have a higher growth than PPOR-dominated areas - or is this too simplistic? Certainly I was always told to invest in owner-occupier dominated areas as the growth is better and more reliable. I've never actually tested that statement...

kaf
 
I guess he's saying that the 7500 Australians that have more than 1 IP are responsible for driving the prices of millions of homes up.
 
ianvestor said:
I guess he's saying that the 7500 Australians that have more than 1 IP are responsible for driving the prices of millions of homes up.
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Exactly Ian! That's why that argument never washes with me. That's also assuming all 7500 are continually buying at the same time without taking a breather, and all buying in the capital city markets. :rolleyes:
 
And what is it with a marine biologist and an accountant cannot find a deposit. What have they been doing? They hardly fall in the "battler" category.
 
Last edited:
Quote:
Originally Posted by wylie
Surely he cannot just blame investors for his choices?

He can, and will!
__________________

i guess this why he is a tenant, he is a victim of the world!

he probably voted for kevin rudd aswell.
 
I used to think investors were responsible for a significant part of the property price bubble....and am still suspicious. It is true that they were buying property in larger numbers than historically over the last 10 years.

However, ABS stats show the proportion of owner occupied dwellings has not changed drastically in the last 17 odd years.

1991 68.0%
1996 69%
2001 69.5%
2006 69.8%
source: Australian Year Book 2008 page 313


And in that case, one can only infer there is not a higher % of investment property around today cf 15 years ago.
 
wylie said:
And what is it with a marine biologist and an accountant cannot find a deposit. What have they been doing? They hardly fall in the "battler" category.
Click to expand...

Sorry, this always reminds me of that Seinfeld episode.... "IS ANYONE HERE A MARINE BIOLOGIST?!"

Maybe this guy in the article is really an unemployed bald guy who lives with his parents.
 
I think i've heard of this situation before from the news.com.au reader opinion pages.
People always have a knack of blaming others for their lack of action.

The way i see it anyone over the age of 27ish who havent decided to buy property only have themselves to blame. If you are over 27 now, then you have most probably been working for 5 or so years atleast and have had ample opportunity to get a loan with low interest rates for an affordable house.
Anyone over 27 that has spent the last 10 years traveling, partying, buying new clothes and car etc and is now thinking about buying a house only have themselves to blame for having their priorities all wrong!
Interest rates and housing affordability was not an issue 5 years ago!

I do feel for the younger generation that is finishing school, entering the workforce and moving out of home to try to afford rent or buy property. They are the ones that have got it tough through no doing of their own!
 
wylie said:
Story tells of a 38 year old man with a PhD in marine biology who is one of the nation's leaders in his field, who delayed buying a house to further his career, which included fellowships overseas. His wife is an accountant and is the breadwinner while he elected to stay at home and take care of his three year old son.
Click to expand...
I don't see what the problem is,if he wants to be a home dad then he could always go out at night and work then he would have his own property,it makes me think when 2 pro people like these can't enter the real estate market then who can, but by the sounds of things they have had a very easy life,and now will pay the price....willair..

http://www.rba.gov.au/Speeches/2008/sp_so_270308.html
 
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