Where are the renters?
- Thread starter bweed
- Start date
I just finished reading "Empire: How Britain Made the Modern World" by Niall Ferguson, a great read. I also just recently bored my FIL with my general knowledge of the British empire, I garnered from the book.
It's great relating and learning from history, I can agree knowledge is power, but action still gets you to the place you want to be.
Hopefully I don't get steam rolled by "paradigm shifts" in my time, so I have a few cents and words of wisdom left to pass on to the next generation, to give them a heads up.
That's the best I can aim for, there are always going to be "unknown unknown's" that will pop up, no matter how much history I have taken in.
P.S - I'll have to pick up some more of Niall's other books, thanks for the reminder.
Funny it's a basket case now. It's like reading "Ancient Greece: Foundations of the Modern World"
The problem with people is they expect to get a cheap place right in the CBD. If they move out abit further, there are excess properties available for rent/purchase. Just look at Melbourne, 20-25km from the CBD and you can get plenty of brand new homes to rent for $290/week.
Heres 1 sample suburb, I found 5 new estates within 25km of the city with similar pricing. Travel time to city is about 25 minutes. They even come with fibre pre-installed, so you get 100mb/sec Internet goodness.
http://www.realestate.com.au/rent/in-point+cook,+vic+3030/list-1?activeSort=price-asc
There may be an under supply of homes in the CBD, but if you're willing to travel, there are loads of excess properties available for purchase in any major city.
There are known knowns. These are things we know that we know. There are known unknowns. That is to say, there are things that we know we don't know. But there are also unknown unknowns. There are things we don't know we don't know.
Donald Rumsfeld
Are there any unknown knowns one wonders?
Gee, this thread is out of control. Go to bed, wake up and there's three more pages...
Ah well, to the topic of renters, this article caught my eye today. Suggests that renters will share houses when the price forces them to. I think I suggested as much some way back and have no issue with this. Will help get the yields up to where they need to be for resi property to allow another price run.
Cities where the rents will hit you most
Cheers,
Michael
Ah well, to the topic of renters, this article caught my eye today. Suggests that renters will share houses when the price forces them to. I think I suggested as much some way back and have no issue with this. Will help get the yields up to where they need to be for resi property to allow another price run.
Cities where the rents will hit you most
rea.com.au said:
Cheers,
Michael
Dazz, why do you post and then delete?
I have that nasty habit too. Your not a Gemini are you??
where have all the tenants gone? I heard a lady in the shop today who was about 40 saying she has moved back in with her parents and they are renting their house out. Come to think of it, i know a couple of other similar aged people who have moved back in with their parents too. One of my property managers often says that's what they are doing too.
Everything comes down to sentiment, most things are self fulfilling whether their are outside influences or not.
House prices are detemined by those who have to sell and if rates were to go up another 1% then without doubt the majority of those first home buyers who bought a year or two ago at all time low interest rates will be out on their butts. Their only hope is to move out and rent their property for some sort of tax deduction and then rent in some way.
Circusmtances always come together that are not forseen originally and then the pieces fall into place. We are still going through a financial problem outside of the mining industry and we have a labour government in who are never as good as liberal in injecting some growth inot the economy.
The US dollar heading down. I sometimes don't hink people realise just how many formerly very well off people ar eno longer well off. Have a look at places like Agnes Waters in Qld and see what has happened to prices since the peak around 05-07. In many cases they have more than halved adn for many of the buyers they paid a million dollars plus for a property that is now worth less than half and had or have to sell.
Long term the house/land prices have to go up, it is just how many ears can people stand the pain who bought in att he least opportune time andhad to waite a long time to derive any real benefit.
Ultimately it is fun chatting about it and it does not matter what happens except for playing our own cards and reaping the benfits or otherwise of our decisions.
House prices are detemined by those who have to sell and if rates were to go up another 1% then without doubt the majority of those first home buyers who bought a year or two ago at all time low interest rates will be out on their butts. Their only hope is to move out and rent their property for some sort of tax deduction and then rent in some way.
Circusmtances always come together that are not forseen originally and then the pieces fall into place. We are still going through a financial problem outside of the mining industry and we have a labour government in who are never as good as liberal in injecting some growth inot the economy.
The US dollar heading down. I sometimes don't hink people realise just how many formerly very well off people ar eno longer well off. Have a look at places like Agnes Waters in Qld and see what has happened to prices since the peak around 05-07. In many cases they have more than halved adn for many of the buyers they paid a million dollars plus for a property that is now worth less than half and had or have to sell.
Long term the house/land prices have to go up, it is just how many ears can people stand the pain who bought in att he least opportune time andhad to waite a long time to derive any real benefit.
Ultimately it is fun chatting about it and it does not matter what happens except for playing our own cards and reaping the benfits or otherwise of our decisions.
