Garpal Gumnut
Ross Island Hotel
- Joined
- 2 January 2006
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Thanks.
Good info
My aim would be to rent out to those workers and professionals benefitting from an upsurge in tourism, rather than the tourists themselves.
gg
I have looked at Cairns a few times as the market is quite cheap and in a slump at the moment. It is very tourist/boom driven, so if the AUD ever goes down that would be a good thing for Cairns property prices.
One thing to look out for, as you have already mentioned, are the body corp and insurance. Body corp seems very expensive for some unknown reason and insurance is quite high due to cyclone risk. These 2 generally take the advantage out of most cash-flow postive places, but if you are buying outright then it is a different story
Looked at Cairns maybe a yr or two back as there were a few cash flow pos places being marketed. However had similar concerns to what prawn_86 highlighted. Very dependent on tourism. With what was happening to the GC, we got put off. Mind you we were focusing more on small commercial.
Don't know what the market is doing at the moment.
I'm 23, and while that's a very tight budget and buying a house on 55k on your own is likely to be even tougher, it doesn't look to me to be a bad decision financially.
Either I put more value in owning a home than some others here due to it's dual benefit of getting off the rent cycle and also having future access to an asset that can be leveraged highly for investment purposes, or I'm just not as frightened of paying that much
Benefits:
No terrible landlords.
Rent money is no longer dead money, and the mortgage becomes a savings plan allowing you future access to cheaper investment lines of credit.
Costs:
It's tough for a few years paying off your residence on your own. Shock horror.
I spent far too much of my time putting that together considering it will no doubt be picked apart immediately. The numbers stack up for us though, and me and my partner are the only people that need to worry about that.
To each their own, I just can't help myself when people say "It can't be done!" when what they mean is "That will be tough and less than ideal!".
To each their own, I just can't help myself when people say "It can't be done!" when what they mean is "That will be tough and less than ideal!".
I've also been considering moving back to the US, although I'll move to the West Coast not the East this time. Tbh, it's not just the price of housing, everything in Australia is overpriced.
As of July 24, 2009, the federal minimum wage in the United States is $7.25 per hour. Some states and municipalities have set minimum wages higher than the federal level, with the highest state minimum wage being $9.19 in Washington. Some U.S. territories (such as American Samoa) are exempt. Some types of labor are also exempt, and tipped labor must be paid a minimum of $2.13 per hour, as long as the hourly wage plus tipped income result in a minimum of $7.25 per hour.
http://en.wikipedia.org/wiki/Minimum_wage_in_the_United_States
Australia's minimum wage is $15.96 per hour or $606.40 per week. Generally, employees in the national system shouldn't get less than this.
http://www.fairwork.gov.au/pay/national-minimum-wage/pages/default.aspx
You're welcome anytime mate! There will be the obligatory day trip to Tijuana though.
I'd even pay for the petrol.... and the tequila
Depending on where we end up, the two may be the same.
But then on the flipside, does someone flipping burgers at Macca's need to be paid $16/hour?
Would this make an impact on property prices?
Minimum wage (sorry, some Wiki involved)
USA
Australia
Would this make an impact on property prices?
Minimum wage (sorry, some Wiki involved)
USA
Australia
No.
I'm doing a RTW this year, l'll pop into LAX, but Mexico, l'm not so sure McLovin. Their drug war is out of control, but l've never tried Viagra (or Oxy), LOL! (All jokes)
People on $15.96 an hour do not buy houses, nice try though.
But people on ~$30 an hour do......wait....hold on.....
I'm 23, and while that's a very tight budget and buying a house on 55k on your own is likely to be even tougher, it doesn't look to me to be a bad decision financially.
Either I put more value in owning a home than some others here due to it's dual benefit of getting off the rent cycle and also having future access to an asset that can be leveraged highly for investment purposes, or I'm just not as frightened of paying that much
I can't see anything to be picked apart at all. Totally congratulate you on your forward thinking and willingness to do it a bit tough in the short term for the longer term benefit.I spent far too much of my time putting that together considering it will no doubt be picked apart immediately. The numbers stack up for us though, and me and my partner are the only people that need to worry about that.
To each their own, I just can't help myself when people say "It can't be done!" when what they mean is "That will be tough and less than ideal!".
The argument you're making is a classist political argument.
The argument you're making is a classist political argument. It is about nothing more than the long held belief of a class stratified society.
The argument is attractive to skilled workers as they see it enabling them to pay someone to do their laundry cheaper. What they don't realise is that such a move would undermine the strength of the economy, removing the demand for their skills, landing them unemployed and in the same situation as the initial unskilled group.
For examples, see the USA. Their economy failed and are their wages sky high ? LMAO.
Inflation killed the economy. No debate there. The cause of inflation and HOW it destroys the economy is a different debate.
The church of the far right will say a 15.96 an hour wage in a trillion dollar economy caused inflation, those with half a mathematical brain know high minimum wages are the result of inflation. They're the god damned minimum, they're what people demand so that when they put in a days work at the end of it they can just afford to survive.
That doesn't fuel inflation. Think harder.
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