House prices to keep rising for years

[kincella]

macca...you are not getting it...its all about the jobs...+ employment...equals cash to spend = keeping the economy running
winners are grinners

 

[robots]

hello,

i think you should check what happened to residential property during the last recession, not much

safe as houses Macca,

thankyou
robots

 

[kincella]

macca...think outside the square you live in..............the smart money is in housing....
even my dog knows that.....winners are grinners

 

[profit off it]

hello,

its been going up and down since 2000 man with both the Feds & State doing there bit

wasnt an issue back in 2000, seems a major issue now though, strange

remember, soft dough said everything okay as long as government gets ROI, all about equality and the housing market should get assistance just like every other industry

thankyou
robots

Bob Hawke's Labor government introduced the 1st First Home Owner's Scheme back in 1983. It was means tested and you were eligible for the full grant if the combined income of all applicants was less than $24300. Depending on if you had dependants or not the grant ranged from $5000 to $7000. That would have been a huge chunk of the purchase price of a home back in 1983!

The link to the regulations for the original legislation is:http://www.comlaw.gov.au/comlaw/Leg...5698DB8F5238F51ECA256F700080A733?OpenDocument

 

[saiter]

macca...you are not getting it...its all about the jobs...+ employment...equals cash to spend = keeping the economy running
winners are grinners

hello,

i think you should check what happened to residential property during the last recession, not much

safe as houses Macca,

thankyou
robots

macca...think outside the square you live in..............the smart money is in housing....
even my dog knows that.....winners are grinners

WTF is this BS? Three spruiking posts in the space of 3 minutes. Is robots and kincella the same poster?

 

[robots]

hello,

thankyou Profit Off It

there you go hey, way back in 83 when property was supposedly super affordable

thankyou
robots

 

[lusk]

hello,

i think you should check what happened to residential property during the last recession, not much

safe as houses Macca,

thankyou
robots

Like most assuming that this recession is going to be like the last, doesn't take much to see that its not.

Toyota Motor, the world's top automaker, announced Friday a 4.4-billion dollar annual loss, its first ever, and warned it would plunge deeper into the red as car sales collapse during the recession.

Toyota lost 765.8 billion yen (7.7 billion US dollars) in the quarter to March alone, even more than General Motors, as it idled plants to ride out the biggest crisis in its more than 70-year history.

But the sun's still shinning and winners are grinners, just another day brothers!

Thankyou
Lusk

 

[singlefished]

macca...think outside the square you live in..............the smart money is in housing....
even my dog knows that.....winners are grinners

The money might be smart, doesn't necessarily mean the guy spending it is financially literate.

I think this is especially the case in Sydney were in absolute/inflation adjusted terms prices are down 20% since 2004

I'm sure glad I didn't pump my $$$ into the Sydney market 5 years ago! I must be an idiot for not taking a 20% hit ehh?

On another topic, FHB boost extension... What did Swanny say tonight, 54,000 taken up the offer to date. Worst case scenario for the Government coffers is that every FHB takes the maximum $14K (for a new house).

$14K * 54,000 = $756M to date.

Allocated $1.5 Billion on 14th October. Not quite as successful as they had obviously hoped for or are making out it was, only half the allocation been taken up to date hence the extension.

 

[robots]

hello,

"the thing that differentiates my rhymes from yours is called originality"

word out to the true kings:

king kincella, Big Beej, Professor Robots

another great day

thankyou
associate professor robots

 

[gfresh]

~$800M is easy money, compared to the cost to bailout the banks if the housing market collapsed. I can see where they are coming from with the extra boost, even though I don't think it really helps FHB'ers, mainly everybody else.

 

[Beej]

The worst case for me should only be a bit of an unwelcome touch-up.....

PS: Re Sydney and 20% down in inflation adjusted terms - yes, possibly better places for cash if chasing absolute returns, although stock market won't have given that if you rode down with the crash. However, still not that bad as a) you have been hedged against inflation pretty well + be rent return (or rent saved) would be a significant amount over same 5 year period, so still OK in my books, with a view to future growth (and no-one will see the next boom coming until it has happened).

Cheers,

Beej

 

[robots]

hello,

fantastic budget night yesterday,

would like to thank Profit Off It for informing us in regards to the First Home Owners Grant

it was introduced in 1983, yes 1983, amazing, its been going strong for 26yrs

werent houses back then super affordable yet Hawke introduced the grant

oh well, have a great day, say hello to your neighbour and walk tall brothers

thankyou
robots

 

[kincella]

singlefished....they are disgusting remarks...I usually find that posters who cannot argue the point successfully...revert to a personal attack against another poster....its just disgusting

 

[satanoperca]

Keeping it back on track.

Sales volume in the areas I research has seen a dramatic increase in the last few weeks but it seems prices have gone up slightly over those that were around in late 08.

Only time will tell how this plays out.

Got to love a Labor government, spend, spend, spend, that will do the trick to get us out of the situation, it didn't work last time, maybe it will work this time.

Definition of insanity : doing the same thing over and over again and expecting a different outcome.

Tall poppy syndrome still being encourage, tax the rich.

Beej, thanks for your continued contribution to this thread, whether I agree with your comments or not they are appreciated.

Cheers

 

[Beej]

singlefished....they are disgusting remarks...I usually find that posters who cannot argue the point successfully...revert to a personal attack against another poster....its just disgusting

Kincella, even if a little on the crude side, I think it was meant as pretty tongue in cheek response to Robot's tongue in cheek "kings" post. It made me smile anyway!

Beej, thanks for your continued contribution to this thread, whether I agree with your comments or not they are appreciated.

Thanks for the encouragement. Everyone is entitled to their opinion and view, but should always reserve the right to be proven wrong (including myself of course!). Civil discussion and debate is always appreciated, regardless of viewpoint.

Bob Hawke's Labor government introduced the 1st First Home Owner's Scheme back in 1983. It was means tested and you were eligible for the full grant if the combined income of all applicants was less than $24300. Depending on if you had dependants or not the grant ranged from $5000 to $7000. That would have been a huge chunk of the purchase price of a home back in 1983!

Re the history of the FHBG, as I think I have posted before, in addition to the above info, my dad told me that he got a $750 first home buyer/builder grant in 1966 when he and my mum bought/built their first home - that's probably about $10k-$20k in todays dollars anyway.

So bottom line, government subsidy/encouragement to get people into their own homes is nothing new at all in this country (just like farming, auto industry subsidies etc have always been around). Maybe that's why we have such a solid property market and a 70% home ownership rate - one of the highest in the western world? I guess it also encourages building which is needed to support a growing population + the building sector has always been an important sector of the AU economy?

Doesn't leave much room for investors to pick up anything in the lower-priced segment though, I know a few have been waiting..

Gfresh - I think this is a real issue. I suspect if there was no FHBG boost/rush, that rental yields would have quickly hit the level that investors would have taken up the slack in numbers. Right now as you say I think potential investors are wary of competing with all the FHBs, and are still waiting to see what happens with rents and prices over the nest 6-12 months.

Cheers,

Beej

 

[robots]

hello,

good evening and hope everybody having a blast of a day

check this:

http://www.reiv.com.au/news/details.asp?NewsID=782

the rent thread clearly supports the situation

things just plodding along, not much happening for the inner ring, kincella has touched on these areas before when out mixing it with the public on chapel st

oh well

thankyou
professor robots

 

[Go Nuke]

DAM! The y extended the first home owners grant

My partner and I were hopeing they would ditch it, or at least a part of it.
Its keeping the housing at our end of the market inflated...which im sure the government wants, but would

rather have seen the prices come down in the lower end.

Housing in Brisbane is still way over priced imo compared to SOME other capitals.

30Mins out of Melbourne will buy you more than what you could get here in Brisbane.

Oh well....just keep saving and hope we can afford something other than a pile of S*%! for $400K near Brisbane.

People just need to stop paying such high prices for crap.

I had a guy whinge at me today about how he is going to be paying for women to stay at home and have babies. I tried to explain to him how do you pay a morgage/rent on one income these days??

 

[Go Nuke]

hello,

good evening and hope everybody having a blast of a day

check this:

http://www.reiv.com.au/news/details.asp?NewsID=782

the rent thread clearly supports the situation

things just plodding along, not much happening for the inner ring, kincella has touched on these areas before when out mixing it with the public on chapel st

oh well

thankyou
professor robots

My realestate agent suggested I bump up the rent on my property by $10- $20/week...but I declined and told them just to increase it by $5.
Ive got good tennents and if the vacancy rate increases ...well Id hate to lose them and not be able to fill their void in my little old shack

There's more to the world than greed too.

 

[gav]

My realestate agent suggested I bump up the rent on my property by $10- $20/week...but I declined and told them just to increase it by $5.
Ive got good tennents and if the vacancy rate increases ...well Id hate to lose them and not be able to fill their void in my little old shack

There's more to the world than greed too.

Good work. I just moved into my first home yesterday after renting for 6yrs. My rent contract finishes next month, and we received a letter saying it would be put up $20 per week. The letter stated "it has nothing to do with you as a tenant, it is a reflection of the current rental market".

I sent our 'notice to vacate' letter today. I made sure I included that my mortgage repayments are actually $2 cheaper than continuing to rent

Supply and demand - there will always be people who want to live close to the city...

 

[Soft Dough]

remember, soft dough said everything okay as long as government gets ROI, all about equality and the housing market should get assistance just like every other industry

thankyou
robots

So please explain how the government gets a ROI on residential housing?

As far as I see it, it just pumps resources boom money into unproductive assets ( ie assets that do not generate a return for the country )