House prices to keep rising for years

[robots]

hello,

oh yeah, top effort Mr Burns, hand the title out then if you not interested

yes i wouldnt handout 5 cents

thankyou
professor robots

 

[MrBurns]

hello,

oh yeah, top effort Mr Burns, hand the title out then if you not interested

yes i wouldnt handout 5 cents

thankyou
professor robots

Thats childish, if my properties trippled in value tomorrow it wouldnt make a lot of difference because I would have to pay that extra to get back in if I sold, plus higher stamp duty, higher rates.

 

[robots]

hello,

but you not interested in income or capital growth but providing for others,

so transfer the title to their names, no big deal

didnt mention selling them

perhaps you are interested in the capital growth after all

thankyou
professor robots

 

[MrBurns]

hello,

but you not interested in income or capital growth but providing for others,

so transfer the title to their names, no big deal

didnt mention selling them

perhaps you are interested in the capital growth after all

thankyou
professor robots

Robots you dont make a lot of sense when you're drawn into an actual discussion.

Just because I'm not sweating on capital growth doesnt mean I would give valuable assets away now does it.

 

[robots]

hello,

thanks, put you down with me brother, on the selfish tip

long way around

thankyou
professor robots

 

[robots]

hello,

at least we stay true to the cause, lots of pretenders around

thankyou
professor robots

 

[robots]

hello,

gee, what happened here to day, it was going off its nut

commies, socialists, capitalists, all in

just amazing, but we all still walk out as friends, what a place

thankyou
professor robots

 

[MrBurns]

hello,

gee, what happened here to day, it was going off its nut

commies, socialists, capitalists, all in

just amazing, but we all still walk out as friends, what a place

thankyou
professor robots

Thats the main thing Robbie

 

[MACCA350]

Gee, I have a break from the laptop for a day and see what happens I missed all the fun

Nice to see I'm not the only one who has been disheartened by recent trends.

One thing my brother in-law mentioned, he feels there will be some turbulence in property as the baby-boomer generation(IIRC being the starters of the 'property investment portfolio' mentality) begin to sell out...........does make ones thoughts drift

cheers

 

[wayneL]

But people (including yourself) seem to be getting this idea mixed up with the idea of land/property ownership.

Not at all. You are leaping to conclusions based on some sort of cognitive bias.

I don't think there is any "right" to home/land ownership whatsoever. Where did you get that idea? I have no problem with people renting. I choose to rent myself as it suits me right now.

However overpriced basic accommodation filters down to rent levels. People are entitled to a fair return on the value of their asset, so rent should reflect the asset value. Ergo, high prices equals high rents.

Witness - what has happened to rents in Oz over the last few years? Rents have totally outstripped inflation. What you could rent in Perth for $250 4 years ago is now circa $450 or more.

Perth as a society functioned perfectly well with some of the most inexpensive real estate and therefore rents in the country. Now it is among the most expensive. Why? (Yes I know the economics etc)

Fantastic if you own property. But if you're starting out, it is much more difficult than previous generations endured. There is something wrong with an economic policy that actually encourages this in my opinion.

You can still get rich in property without massive speculative price inflation, just might take a bit longer.

What I do object to very strongly is government actions in propping up house prices.

If we are to be Keynesian style interventionists, house prices should never have been allowed to get out of control. Policy would have tried to prevent it.

However if we are to be Austrian style laissez faire capitalists, then let them rip, but let people deal with the consequences of an Austrian style bust. Let housing, as a market, find its level without gu'mint support. Let the market do its job of price discovery.

But gu'mint policy flip flops from laissez faire to interventionism in order to perpetuate the house price boom.

I and others don't believe this is healthy or fair to all in the long run.

Personally, I'm in favour of Austrian style economics. I have no problems with a price boom, but am prepared to deal with the consequences of a bust, both in the sense of protecting assets and as an opportunity.

Current day investors are used to the nanny state nipple of middle class welfare and go whining to the government to bail them out of trouble. pffft.

Ultimately this type of economics cannot survive without unintended consequences.

 

[MACCA350]

I should mention that our intention for any future property purchases are for a holiday house and homes for our children which they can use once they decide to move out, title will be willed to them on our passing.

cheers

 

[MrBurns]

I should mention that our intention for any future property purchases are for a holiday house and homes for our children which they can use once they decide to move out, title will be willed to them on our passing.

cheers

Do they pay stamp duty on that ?

 

[MACCA350]

Do they pay stamp duty on that ?

As far as I know inherited property is exempt from stamp duty, although laws can change.

cheers

 

[MrBurns]

As far as I know inherited property is exempt from stamp duty, although laws can change.

cheers

Depends n the State too I guess.

 

[MACCA350]

Depends n the State too I guess.

Yep. We'd definitely get advice on the best ways to go about it all when we get to that point. Though we plan to leave them more than a house each, so any unforeseen expenses should be covered.

At least that is our goal, we didn't bring our kids into this life just to leave them high an dry when we leave. The 'spend the kids inheritance' attitude really makes me sick, especially if they were the recipient of such an inheritance.

cheers

 

[MrBurns]

The 'spend the kids inheritance' attitude really makes me sick.
cheers

I agree there, those ads really annoyed me.

 

[MrBurns]

I think if you were lucky enough to make it then to pass it onto your kids is a great thing to do and just hope they keep it and dont lose it through a bad marriage.

 

[MACCA350]

I think if you were lucky enough to make it then to pass it onto your kids is a great thing to do and just hope they keep it and dont lose it through a bad marriage.

Amen to that. Our layer mentioned we could stipulate in our will that they don't get title until they are a certain age, ie 25 or so, to at least make sure they don't go an blow it all just because they're 'young dumb and full of c..' But I hope we will be able to instil some good sense into them before then


...........not that we're planning to cark it before they're 25

cheers

 

[MrBurns]

Amen to that. Our layer mentioned we could stipulate in our will that they don't get title until they are a certain age, ie 25 or so, to at least make sure they don't go an blow it all just because they're 'young dumb and full of c..' But I hope we will be able to instil some good sense into them before then

cheers

They should get whatever they need for education and travel and the lot when they're about 40, 25 is too young for most.

This money is for security not to take away their will to do it on their own, it's hard to set it up that way though, I've got a Trust that will be administered by a lawyer, but it's all complicated and I'm not really happy with it yet.

 

[MrBurns]

The hardest thing is to set it up so it's for their future without them thinking, I dont have to work because I've already got a house and they bludge, that could actually ruin someones life by taking away thier incentive.