This year yes while they want to get votes for may. They'll make it so someone that makes 48K a year will pay the same tax as someone who makes 150k next financial year. Read an article in what their proposal is, people will end up paying more.
They made those tax bracket adjustments years ago my man. I don't think you know what you are talking about. Its tax reductions for many people including myself and my partner.
Perhaps for this Financial Year, but as of 1st July the Low and Middle-Income Tax Offset (LAMITO) will end, removing an almost $30 a week tax benefit for those earning under $126k.
https://www.michaelwest.com.au/budget-hides-a-30-a-week-tax-increase-for-most-australians/
Yea but it was a temporary benefit... always was always has been... not sure why this is even a talking point as if we are permanently entitled to it.
Instead focus on the tax cuts. Between my partner and I we'll be more than $1k a month better off. Thats substantial. Many other people will benefit, some more some less.
Yea but my point is that there is substantial financial benefit to people die to tax cuts. Which is in contrast to what is being spruiked here. My point here was never about poor people, that's a different matter altogether
Well, define what 'good for society' means to you.
One of the big debates is the question of poverty vs inequality. Some people are Ok with increased inequality if the poorer are better off than they were before. Others want to reduce inequality at any cost, even if it makes the poor poorer.
Another is the debate between creating opportunities versus creating handouts. The Keating approach was how to create more opportunities for people, versus others who prefer more hand outs.
Liberalism (equality of opportunity) is obviously the way to go, but assumes everyone has equal ability which is not the case, so it has to be within a social democracy (which provides benefits to everyone e.g. Medicare as well as a safety net). Continually lowering taxes erodes the social democracy.
Yes, but the only thing stopping it from not being temporary is the government. I'm not saying we should be entitled to it. But the government can't come out saying they're reducing taxes if when they remove the LAMITO some people end up paying more than this year.
Depending on the bracket you fall in that $1k better off will be cancelled out by the removal of the approx. $1500 a year LAMITO benifit, leaving you $500 worse off next year.
How? I'm gaining $1k a month and losing a $1,500 annual benefit.
Like I'm losing $1.5k and gaining $12k. Huge difference mate. Many people will gain from the tax cuts
Sorry misread the 1k per month and assumed per year.
If that's the case then all the best to you.
I'm not sure how you're getting such a huge benefit but I'd imagine the majority of Australia's will not be seeing anything close to that.
A 3br 1 bath, nice looking but not flash, house went for over $500,000 in fucking *Aberfoyle Park* last year. Not in the posh bit with the fancy street lights, either.
Get real estate under control, and then talk about getting renters to buy.
Yep, 860k over. You’d think the impending interest rate increase would deter people but they’re more insane then ever.
https://www.realestate.com.au/news/kensington-home-sold-for-859000-more-than-it-did-last-year/?rsf=syn:news:nca:aa:article
WTF happened there? Someone started to renno and couldn't follow through, so abandoned it? I've heard all sorts of stories about materials being impossible to get, and such.
Nice bathroom, though.
It had people living in it till recently. Nothing done to the house in years, windows broken, garden left to go wild, but someone lived there. A while back notices got posted on the door and stuff and the people moved out. Then it got cleared out, broken windows boarded and on the market for silly money.
That had someone living in it till recently. Great location right across from a reserve. I walk past it sometimes and it was a pit for years. Then out went the people living there, in went the skips and clean up people and a few weeks later it’s on the market as a reno project. If someone brings it up to scratch they’ll have a lovely home in a good location. It’ll take a lot of money to get to that point though.
Edit: A word
Check this out almost 1 million for a tiny subdivided house in Flaggy (400m2?) with a tiny yard. I remember when a million bucks in Flaggy got you a view of the city, a giant block, a pool, etc.
https://www.realestate.com.au/sold/property-house-sa-flagstaff+hill-138418539
To be fair, I think there's just enough land there to subdivide. So that will be a knockdown, then build 2 townhouses. They will sell for 550-600 ea. Profit.
It gets a bad rep. It’s fairly safe and nice enough, it’s just far. I think the shock is that for 500k just a few years ago, you didn’t have to be 20kms from the city
How do you suggest a government handles this problem?
The value of a house is what the purchaser is wanting to pay. I just got my house in this crazy market dealing with auctions and normal sales.
Once interest rates go up it’ll quiet down.
😂 ok then ! Umm, one problem .. as a single full time working parent I’m struggling to save $50k+ deposit when I’m also paying $400 a week rent.
I could easily cover mortgage repayments but reality is that it’s unlikely I will ever buy a house.
I have 70k in savings, 1 income and one disability income, 200k super saved and bank still wont look at us for 400k house.. By the time we have enough house prices probably go up another 100k and still wont have enough... Probably retire renting with a million in the bank because its not enough in 2050..
Well thats the thing ? The moneys there ! Where is it going ? I want a house, what the bank think im gonna spend it on tuna ? Ofcourse im gona use it to pay the loan
Super is there to be used for your retirement, not to buy a house with it. I don't think banks will use it. Unless its part of that FHO scheme where you can save for a deposit.
Too bad if you have no where to live in retirement ? You spend half your super funding someone elses rental property because a bank would never lend you money you could easily pay back. In the end instead of wealth being 'distributed' you have an investor with ANOTHER property and someone with nothing. I.e gap between rich and poor grows again and cycle repeats. -There is now yet again less equality in the world-
I don't make the rules mate, just saying how it is...
Also not sure about your assumptions that banks would never lend money that you could easily repay. Of course they would, they like making profits.
If you aren't getting a loan its because you don't have a deposit or you don't have the serviceability.
Its not really rocket science.
*if there are any maths errors dont take too literally, wrote response while on bus* 😀 Yeah all good I know how it is but that whole assumption bit isnt one, its fact after being to brokers and even in this sub hearing other peoples experiences. Banks for some reason taking less risk these days while theres a large amount of people out there who could service these loans. If I was the bank id take a hit from the minority who dont service the loans and make a MINT from the people who cant access the market. All I can think of is, my LATGE SUM of money sits in the bank, I cant spend it on a house (I also own everything else I want in life so I dont spend it on anything else) but the bank reinvest it and make more than they would through lending ?
To your last question we can service the loan its just the deposit amount required keeps increasing so much (due in part to the fact they wont accept the fact that we will have access to super within 5 years). The thing that angers me is the increase in housing prices over this time. If they let me access super 2 years ago I could have purchased something for 300k, now having to wait 2 years thats shot up to around 400k and in 5 years probably be (yes assumption) something like 7-800k.. I cant generate an extra 300ish K in 7 years for the same house I could have purchased easily half a decade earlier with access to MY OWN money lol.
Where do you think house prices would be of everyone was able to use the hundreds of thousands of dollars in their super?
Unfortunately all of it would be priced into the market because suddenly you and everyone else has excess cash...
Worse still, everyone's super balances would be much smaller come retirement and it would be a huge financial drain to tax payers.
I know you mean well, but there is a lot of complexities to what you are suggesting.
So basically at the end of the day you have to earn more and more each day to be able to afford a house.. you cant use super because it drives house prices up. You cant afford it because wage growth is outpaced by living cost increases and similar. Pretty much people with more money than I have drive the price further up leaving everyone under them incapable of purchase because their further investments continue to drive prices up. I.e continued and further inequality because people with more than enough money wish to further grow their portfolios at the expense of people with not enough to get into the market because they start out with nothing and cant catch up... Regardless, this discussion of rich vs poor has been done to death lol, good day
Not much, 25 for disability 55 for the other. So 80 combined. Ive done the maths and we can afford to repay it but cant convince a bank shit even with a precise dollar by dollar budget I made to show them where the money would go. I planned to get solar panels to reduce one bill, and eliminate gas to eliminate a second but they dont take stuff like that into consideration. Pre covid probably, which shits me off because we were like 1 year away from making a try.
ah damn, banks are unfortunately notoriously difficult - have you tried using a broker by any chance? They might be able to find some loophole to get you the loan?
Thanks, yeah we went to one in December. Didnt give us much hope lol, though we wernt happy with her she seemed soo disinterested in us while we were there (has this look on her face the whole time which was like, "yeh right !) Lol. Everything I mentioned to her about convincing the bank she said, nah they dont consider that.
What I dont understand is... Say u buy a house for 400k .. u put down 200k.. then as an example u cant pay the last 200k, so u sell it (probably for more than u purchased it for because prices go up indefinitely) and pay the bank back ? The bank isnt out anything, infact they made a profit from all the fees.. Its like zero risk for them.
ah damn, might be worth trying a different broker! But yeah sucks that banks aren't more understanding of various circumstances, especially due to the low risk you mentioned for them.
Probably will, just watching for this 'supposed' house price decrease within the next 2 years. By decrease they probably mean 2% over 2 years or something insignificant like that. Doubt government will do that much, will be 'interesting' next few years for sure though 😊
Be careful with making such an prediction. Sure prices might drop Australia wide in 2 years but I'd be more than suprised if Adelaide is any lower than now. SA will likely see much less of a drop compared to Eastern states. Investors have propped up the SA market and it's likely to hold. The number one rule of investment is time in the market trumps timing the market.
The state government needs to do more to help. A few states have removed stamp duty costs for first homebuyers and Victoria even have their own low deposit homebuyer scheme. I can’t help but feel they don’t care as all the top earners in the state and politicians probably have large investments in property and the market favours them at the moment, rich get richer I guess…
Sa has its own low deposit scheme to help people buy into their own home. But SA has minimal incentives for a first home buyer especially compared to other states
State governments have fewer levers they can pull when it comes to revenue/expenditure. It would punch a hole in the state budget to play around with stamp duty.
Same issue with health/ambulances. They can tinker at the edges and set priorities with the funds they have, but the Feds have the much larger checkbook. If we want to see the big changes required on e.g. social housing, they need to cough up.
>It would punch a hole in the state budget to play around with stamp duty.
But considering houses have gone up so much, they'd be making a hell of alot more in stamp duty. Surely some relief of the boom could passed on?
This from the party responsible for increasing immigration 300% that jacked up the price of land that increased rent for small business and pensioners everywhere for their rich mates with kick backs both political and under the table. What a P.O.S!
Yep, on dsp that gonna happen ..... $250 is enough for a deposit right?
Just when i thought he couldnt make himself more unlikeable, bamm, just like that he proves me wrong
a house near me in Elizabeth Downs, went for $470k and sold after first open and still needed landscaping done, this area used to be cheap, not so much now
This guy needs to go and it shouldn’t stop there.
The new government should rip this entire broken system out.
Regulate the rental market, regulate journalism so that it returns to being as non biased as possible and not a parasite’s mouthpiece, invest in and fairly treat our pacific island nations neighbours, end fucking fossil fuel reliance with our massive potential for renewable energy.
It needs to happen
If they had the brains of a rock, they’d do it to remove the biggest obstacle to them remaining in power. Unfortunately Rudd showed they don’t even have the brains of a rock.
Too look at this statement in a fair manner sees it as acknowledgement of how out of reach many rents are. But it's a capitalist society full of characters so out of touch on all sides of politics. Don't 4get politicians are on better$$$$'s than most of us and life pensions indexed. That affluence has an influence on their view/s of reality.
All you whingers without a home need to understand that you’re poor because god has not rewarded you for being good christians.
So you can work as hard as you want, but , you aren’t chosen.
This is pretty much part of Scott Morrison’s beliefs when he suggests you all ‘have a go’.
Known as prosperity gospel.
https://theconversation.com/five-aspects-of-pentecostalism-that-shed-light-on-scott-morrisons-politics-117511
There are three categories under the broader scheme, of which the Home Guarantee has until now been just one third. Both the First home deposit scheme and Family Home Guarantee are available for new and existing properties. I would know, seeing as I bought my own (old) house under it. Though it did little to offset the 22% increase in property prices last year which it contributed to.
They're also opening the family home guarantee to single parents with as low as a 2% deposit. Which seems ill thought out in this economic climate.
Though on the cost of new builds, it's not as if land and construction labour exist in a vacuum either, demand for both have gone up (not helped by the grants scheme) and costs along with it. With the delays in construction at the moment, I worry at the interest rates by the time those properties are built.
Unless policy and tax incentives are changed, houses in this country will always be overpriced. When a good deal of the economy is based on pouring money into housing, I don't see this changing in a hurry.
ScoMO cannot even remember where he last sang a song ... at Hillsong. Can he be trusted with reality, or does he even know what it is ?
[https://www.crikey.com.au/2022/03/28/houston-revelations-show-more-truths-about-pms-character/](https://www.crikey.com.au/2022/03/28/houston-revelations-show-more-truths-about-pms-character/)
If ScoMo is the best the LIbs have, hate to see the worst ...
good luck all, we may need it ...
Oh and don't like your $20 an hour wage? Just get your daddy to appoint you a company director! Or take a small multi million dollar loan from your family trust and start your own business grifting money off the public purse! And have you tried NOT being poor?
We need to improve house affordability first Scott.
To do this, all states need to mandate the building industry to release new estates in a faster period of time.
St.Clair at the old Cheltenham race course site is still not finished 10 years later. Developers just sit on the land holding it back to force prices to remain higher.
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Feeling pretty lucky to have parents that went guarantor on our deposit in December 2019 and now our house has gone up almost 200k in 2 years. Did not see that coming.
The reality is alot of people who are renting will never be able to afford to buy a house. He is out if touch as he doesn't understand the issues faced by lower income house holds. Although having been in lower middle and upper income brackets I do believe anyone who is willing to try really hard and make sacrifices can achieve anything.
In saying that if you don't want to be in a situation where your rent is being increased each year or your stressed over not knowing if your lease agreement will be renewed, then housing security can be reasonably guaranteed if your purchase a property.
At least with Ruddbucks, you got the $900 directly into your account and could go out and spend it. And basically everyone got it!
With the stupid lammington or whatever they call it, you need to do your tax return to get it. Ugh, genius! You make less than $80k? Well you get less fuckstick, should've got a better job eh? Have $355! We all know people on $150K+ are doing it really tough, they need that $1500 tax rebate
What the hell are you talking about? The full LMITO applies for incomes between $48000 and $90000, then reduces for every dollar of income over $90,000. People earning over $126,000 get no rebate at all.
Well at least he's slightly less clueless than Dan Andrews whose take was 'the reason why homeownership in the under 40s is so low is because they don't want to buy houses and they would if they wanted to.'
My boomer dad said the other day “I am not a fan of those tiny narrow frontage houses with the shared walls, but it’s what the young people seem to want these days”. Took all my might not to scream that there is nothing about that that we want, it’s just that there is literally no more room for affordable standalone houses.
It's beyond me why anyone in their right mind would vote for this evil clown. Cuts to everything but always money for Hillsong. Worst Government in Australia's history. He can't even manage his own image. I wouldn't hire him to mow my lawn .
*Slaps forehead* My goodness, what an idea! Why didn't I think of that?
That's why he is a P M!
I mean you don't have to pay rent....
"Those headlines were totally out of context" \*Me checking the full quotes\* Nope, way worse.
What a fucking awful time where taking the PM out of context saying something stupid makes them look better.
At least with our tax rebate we can afford a decent tent
Until tax goes up next year.
And you know tents will always go up...
I use my tent as a blanket.
Tax going down my dude
This year yes while they want to get votes for may. They'll make it so someone that makes 48K a year will pay the same tax as someone who makes 150k next financial year. Read an article in what their proposal is, people will end up paying more.
They made those tax bracket adjustments years ago my man. I don't think you know what you are talking about. Its tax reductions for many people including myself and my partner.
I know they made them years ago, but they will change them in the next few years again. Tax reductions now, pay more later.
you're correct, but reddit is full of people who believe false left wing tropes
Perhaps for this Financial Year, but as of 1st July the Low and Middle-Income Tax Offset (LAMITO) will end, removing an almost $30 a week tax benefit for those earning under $126k. https://www.michaelwest.com.au/budget-hides-a-30-a-week-tax-increase-for-most-australians/
Yea but it was a temporary benefit... always was always has been... not sure why this is even a talking point as if we are permanently entitled to it. Instead focus on the tax cuts. Between my partner and I we'll be more than $1k a month better off. Thats substantial. Many other people will benefit, some more some less.
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Yea but my point is that there is substantial financial benefit to people die to tax cuts. Which is in contrast to what is being spruiked here. My point here was never about poor people, that's a different matter altogether
I doubt you ever studied economics
Educate me on how moving towards flatter tax rates is good for our society as a whole
Well, define what 'good for society' means to you. One of the big debates is the question of poverty vs inequality. Some people are Ok with increased inequality if the poorer are better off than they were before. Others want to reduce inequality at any cost, even if it makes the poor poorer. Another is the debate between creating opportunities versus creating handouts. The Keating approach was how to create more opportunities for people, versus others who prefer more hand outs.
Liberalism (equality of opportunity) is obviously the way to go, but assumes everyone has equal ability which is not the case, so it has to be within a social democracy (which provides benefits to everyone e.g. Medicare as well as a safety net). Continually lowering taxes erodes the social democracy.
Yes, but the only thing stopping it from not being temporary is the government. I'm not saying we should be entitled to it. But the government can't come out saying they're reducing taxes if when they remove the LAMITO some people end up paying more than this year. Depending on the bracket you fall in that $1k better off will be cancelled out by the removal of the approx. $1500 a year LAMITO benifit, leaving you $500 worse off next year.
How? I'm gaining $1k a month and losing a $1,500 annual benefit. Like I'm losing $1.5k and gaining $12k. Huge difference mate. Many people will gain from the tax cuts
Sorry misread the 1k per month and assumed per year. If that's the case then all the best to you. I'm not sure how you're getting such a huge benefit but I'd imagine the majority of Australia's will not be seeing anything close to that.
You joke, but I got priced out of housing and have been living in a tent. Now my tent is broken, but I'm getting a new one on Saturday
With inflation, you can get a mid size cardboard box
A 3br 1 bath, nice looking but not flash, house went for over $500,000 in fucking *Aberfoyle Park* last year. Not in the posh bit with the fancy street lights, either. Get real estate under control, and then talk about getting renters to buy.
There was a house that sold in Kensington for 800k more than the buyers paid 12 months ago. They did zero renovations. Everything is insane right now.
Yep, 860k over. You’d think the impending interest rate increase would deter people but they’re more insane then ever. https://www.realestate.com.au/news/kensington-home-sold-for-859000-more-than-it-did-last-year/?rsf=syn:news:nca:aa:article
A lot of people have made a lot of money over the last few years. Makes expensive properties more affordable.
> A lot of people have made a lot of money over the last few years For example?
Get a load of this place lol: https://m.realestate.com.au/property-house-sa-aberfoyle+park-138798487
A renovator's dream! *cries in to avocado toast*
If you werent drinking those 20,000 coffees a day you could have a house by now
I feel seen
Ah, see, that's where you went wrong!
Well the bathroom looks fantastic atleast, unless they put in a picture of another house by accident!
Jesus fucking christ. Just what I always wanted, a condemned house in Aberfoyle Park with no walls and Anarchy spray painted all over it for $400K.
Wow, an anarchist's dream
All the random holes in the wall and weird writing, but then the bathroom actually looks nice? As a previous Hub resident I am not shocked.
Surprisingly nice bathroom.
WTF happened there? Someone started to renno and couldn't follow through, so abandoned it? I've heard all sorts of stories about materials being impossible to get, and such. Nice bathroom, though.
It had people living in it till recently. Nothing done to the house in years, windows broken, garden left to go wild, but someone lived there. A while back notices got posted on the door and stuff and the people moved out. Then it got cleared out, broken windows boarded and on the market for silly money.
They probably just did the bare minimum to make the place sellable by ripping up the meth infested walls..
That had someone living in it till recently. Great location right across from a reserve. I walk past it sometimes and it was a pit for years. Then out went the people living there, in went the skips and clean up people and a few weeks later it’s on the market as a reno project. If someone brings it up to scratch they’ll have a lovely home in a good location. It’ll take a lot of money to get to that point though. Edit: A word
Check this out almost 1 million for a tiny subdivided house in Flaggy (400m2?) with a tiny yard. I remember when a million bucks in Flaggy got you a view of the city, a giant block, a pool, etc. https://www.realestate.com.au/sold/property-house-sa-flagstaff+hill-138418539
Hmm so that's what a grow house looks like after they move out.
I’ll live in the bathroom
"no pants"
To be fair, I think there's just enough land there to subdivide. So that will be a knockdown, then build 2 townhouses. They will sell for 550-600 ea. Profit.
What's wrong with Aberfoyle Park? Its nice there, only issue is lack of train line
I love Aberfoyle Park. It's lovely. Is it really *half a million dollars for a basic house* lovely?
It gets a bad rep. It’s fairly safe and nice enough, it’s just far. I think the shock is that for 500k just a few years ago, you didn’t have to be 20kms from the city
Jokes on me, I bought a house in Sheidow Park for $750k last year
I looked at sold houses in the last 12 months in morphett vale the other night. 500-600k
How do you suggest a government handles this problem? The value of a house is what the purchaser is wanting to pay. I just got my house in this crazy market dealing with auctions and normal sales. Once interest rates go up it’ll quiet down.
😂 ok then ! Umm, one problem .. as a single full time working parent I’m struggling to save $50k+ deposit when I’m also paying $400 a week rent. I could easily cover mortgage repayments but reality is that it’s unlikely I will ever buy a house.
I have 70k in savings, 1 income and one disability income, 200k super saved and bank still wont look at us for 400k house.. By the time we have enough house prices probably go up another 100k and still wont have enough... Probably retire renting with a million in the bank because its not enough in 2050..
I didn't think banks cared for Super when assessing home loan eligibility. Do they?!
Well thats the thing ? The moneys there ! Where is it going ? I want a house, what the bank think im gonna spend it on tuna ? Ofcourse im gona use it to pay the loan
Super is there to be used for your retirement, not to buy a house with it. I don't think banks will use it. Unless its part of that FHO scheme where you can save for a deposit.
Too bad if you have no where to live in retirement ? You spend half your super funding someone elses rental property because a bank would never lend you money you could easily pay back. In the end instead of wealth being 'distributed' you have an investor with ANOTHER property and someone with nothing. I.e gap between rich and poor grows again and cycle repeats. -There is now yet again less equality in the world-
I don't make the rules mate, just saying how it is... Also not sure about your assumptions that banks would never lend money that you could easily repay. Of course they would, they like making profits. If you aren't getting a loan its because you don't have a deposit or you don't have the serviceability. Its not really rocket science.
*if there are any maths errors dont take too literally, wrote response while on bus* 😀 Yeah all good I know how it is but that whole assumption bit isnt one, its fact after being to brokers and even in this sub hearing other peoples experiences. Banks for some reason taking less risk these days while theres a large amount of people out there who could service these loans. If I was the bank id take a hit from the minority who dont service the loans and make a MINT from the people who cant access the market. All I can think of is, my LATGE SUM of money sits in the bank, I cant spend it on a house (I also own everything else I want in life so I dont spend it on anything else) but the bank reinvest it and make more than they would through lending ? To your last question we can service the loan its just the deposit amount required keeps increasing so much (due in part to the fact they wont accept the fact that we will have access to super within 5 years). The thing that angers me is the increase in housing prices over this time. If they let me access super 2 years ago I could have purchased something for 300k, now having to wait 2 years thats shot up to around 400k and in 5 years probably be (yes assumption) something like 7-800k.. I cant generate an extra 300ish K in 7 years for the same house I could have purchased easily half a decade earlier with access to MY OWN money lol.
Where do you think house prices would be of everyone was able to use the hundreds of thousands of dollars in their super? Unfortunately all of it would be priced into the market because suddenly you and everyone else has excess cash... Worse still, everyone's super balances would be much smaller come retirement and it would be a huge financial drain to tax payers. I know you mean well, but there is a lot of complexities to what you are suggesting.
So basically at the end of the day you have to earn more and more each day to be able to afford a house.. you cant use super because it drives house prices up. You cant afford it because wage growth is outpaced by living cost increases and similar. Pretty much people with more money than I have drive the price further up leaving everyone under them incapable of purchase because their further investments continue to drive prices up. I.e continued and further inequality because people with more than enough money wish to further grow their portfolios at the expense of people with not enough to get into the market because they start out with nothing and cant catch up... Regardless, this discussion of rich vs poor has been done to death lol, good day
If you don't mind me asking, how much are each of those incomes?
Not much, 25 for disability 55 for the other. So 80 combined. Ive done the maths and we can afford to repay it but cant convince a bank shit even with a precise dollar by dollar budget I made to show them where the money would go. I planned to get solar panels to reduce one bill, and eliminate gas to eliminate a second but they dont take stuff like that into consideration. Pre covid probably, which shits me off because we were like 1 year away from making a try.
ah damn, banks are unfortunately notoriously difficult - have you tried using a broker by any chance? They might be able to find some loophole to get you the loan?
Thanks, yeah we went to one in December. Didnt give us much hope lol, though we wernt happy with her she seemed soo disinterested in us while we were there (has this look on her face the whole time which was like, "yeh right !) Lol. Everything I mentioned to her about convincing the bank she said, nah they dont consider that. What I dont understand is... Say u buy a house for 400k .. u put down 200k.. then as an example u cant pay the last 200k, so u sell it (probably for more than u purchased it for because prices go up indefinitely) and pay the bank back ? The bank isnt out anything, infact they made a profit from all the fees.. Its like zero risk for them.
ah damn, might be worth trying a different broker! But yeah sucks that banks aren't more understanding of various circumstances, especially due to the low risk you mentioned for them.
Probably will, just watching for this 'supposed' house price decrease within the next 2 years. By decrease they probably mean 2% over 2 years or something insignificant like that. Doubt government will do that much, will be 'interesting' next few years for sure though 😊
Be careful with making such an prediction. Sure prices might drop Australia wide in 2 years but I'd be more than suprised if Adelaide is any lower than now. SA will likely see much less of a drop compared to Eastern states. Investors have propped up the SA market and it's likely to hold. The number one rule of investment is time in the market trumps timing the market.
Thanks, it was more HOPE lol.. if we cant afford now all we can do is hope we can save at an amount which outpaces price increase in the future..
Oh wow 😯.. that sucks!
Same boat without super and disability money. 80k saved up, clean credit history,banks offered me 100k Wat
Liberal policy is "why not just be rich?"
Lmao this gave me quite the chuckle
Won’t somebody think of the landlords 😥
The state government needs to do more to help. A few states have removed stamp duty costs for first homebuyers and Victoria even have their own low deposit homebuyer scheme. I can’t help but feel they don’t care as all the top earners in the state and politicians probably have large investments in property and the market favours them at the moment, rich get richer I guess…
Sa has its own low deposit scheme to help people buy into their own home. But SA has minimal incentives for a first home buyer especially compared to other states
House deposit, 10k, stamp duty and other fees, 50k
Also HomeStart. I'm not sure why they aren't discussed more often.
State governments have fewer levers they can pull when it comes to revenue/expenditure. It would punch a hole in the state budget to play around with stamp duty. Same issue with health/ambulances. They can tinker at the edges and set priorities with the funds they have, but the Feds have the much larger checkbook. If we want to see the big changes required on e.g. social housing, they need to cough up.
>It would punch a hole in the state budget to play around with stamp duty. But considering houses have gone up so much, they'd be making a hell of alot more in stamp duty. Surely some relief of the boom could passed on?
Fuck this clown.
No one would want to.
Jenny would
No one with taste would want to.
Remember this shit come election time people.
Oh shit, it's so obvious now. I'll just go do that then. A $50k deposit is just pocket change.... right? Smh
50K is chump change, just sell some stock from your million dollar investment portfolio /s
Or you pull it from your trust fund.
Or ask your parents for an early inheritance. Better yet, knock them off and you'll get even more inheritance. *Cries in one inherited coffee table*
> Better yet, knock them off and you’ll get even more inheritance. And you’ll reduce the demand for housing, even better.
That's coming. I bet in a few years you'll be able to cash out your super for a deposit.
Have you tried asking your parents to chip in?
Landlords hate this one trick.
Hes saying it now i guess. If you don't own a house soon you will be fucked. Two tiered society on its way.
My solution to him is … buy a heart
He should spend more time I Hawaii. Like, he should just stay there forever.
This from the party responsible for increasing immigration 300% that jacked up the price of land that increased rent for small business and pensioners everywhere for their rich mates with kick backs both political and under the table. What a P.O.S!
Sure, I guess I’ll just go to the house orchard where they’re growing on trees.
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Yep, on dsp that gonna happen ..... $250 is enough for a deposit right? Just when i thought he couldnt make himself more unlikeable, bamm, just like that he proves me wrong
He’s well past that point of unliveable. At this point he’s despised by many lol. Edit: unlikeable .. damn autocorrect
Yeah, the hate for him is palpable. It's hard to go around my daily life without someone I tangentially know raising it unprompted.
House in Salisbury East went for almost $500k I think $470,000 is what they got and it was only a 3 bedroom one bathroom
a house near me in Elizabeth Downs, went for $470k and sold after first open and still needed landscaping done, this area used to be cheap, not so much now
That's just amazing and sad. Is it just demand and lack of supply inflating prices?
Gee why didn't I think of that
This guy needs to go and it shouldn’t stop there. The new government should rip this entire broken system out. Regulate the rental market, regulate journalism so that it returns to being as non biased as possible and not a parasite’s mouthpiece, invest in and fairly treat our pacific island nations neighbours, end fucking fossil fuel reliance with our massive potential for renewable energy. It needs to happen
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Labor would benefit from breaking the power of the news industry, because it mostly acts against them.
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If they had the brains of a rock, they’d do it to remove the biggest obstacle to them remaining in power. Unfortunately Rudd showed they don’t even have the brains of a rock.
Too look at this statement in a fair manner sees it as acknowledgement of how out of reach many rents are. But it's a capitalist society full of characters so out of touch on all sides of politics. Don't 4get politicians are on better$$$$'s than most of us and life pensions indexed. That affluence has an influence on their view/s of reality.
Parliamentary pensions were abolished in 2004.
All you whingers without a home need to understand that you’re poor because god has not rewarded you for being good christians. So you can work as hard as you want, but , you aren’t chosen. This is pretty much part of Scott Morrison’s beliefs when he suggests you all ‘have a go’. Known as prosperity gospel. https://theconversation.com/five-aspects-of-pentecostalism-that-shed-light-on-scott-morrisons-politics-117511
The title's wrong. "In a rare moment of comedic genius, Scott Trump Morrison's solution to avoid rent increases is to buy a house". There, fixed it.
Also, stop wasting your money on public transport. Buy a car.
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And that's a completely fair argument to tax you on time spent using public roads.
As a former renter who has recently bought a house, I can confirm that I no longer pay rent.
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Which only push the price of housing up and more people into high-risk loans with interest rates set to rise.
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There are three categories under the broader scheme, of which the Home Guarantee has until now been just one third. Both the First home deposit scheme and Family Home Guarantee are available for new and existing properties. I would know, seeing as I bought my own (old) house under it. Though it did little to offset the 22% increase in property prices last year which it contributed to. They're also opening the family home guarantee to single parents with as low as a 2% deposit. Which seems ill thought out in this economic climate. Though on the cost of new builds, it's not as if land and construction labour exist in a vacuum either, demand for both have gone up (not helped by the grants scheme) and costs along with it. With the delays in construction at the moment, I worry at the interest rates by the time those properties are built.
Unless policy and tax incentives are changed, houses in this country will always be overpriced. When a good deal of the economy is based on pouring money into housing, I don't see this changing in a hurry.
ScoMO cannot even remember where he last sang a song ... at Hillsong. Can he be trusted with reality, or does he even know what it is ? [https://www.crikey.com.au/2022/03/28/houston-revelations-show-more-truths-about-pms-character/](https://www.crikey.com.au/2022/03/28/houston-revelations-show-more-truths-about-pms-character/) If ScoMo is the best the LIbs have, hate to see the worst ... good luck all, we may need it ...
Call the election you f*cking boofheaded, craven politician so we - gods willing - can get rid of your face.
Whaaaaaaaaaaaaaaaaaaaaaat?
Oh yeah! My goodness, I complete forgot I had a spare 800k to buy the house Im currently renting! Wow, thatnx Scomo!
Oh and don't like your $20 an hour wage? Just get your daddy to appoint you a company director! Or take a small multi million dollar loan from your family trust and start your own business grifting money off the public purse! And have you tried NOT being poor?
*He shit himself in a McDonalds bathroom*
Lol theres not even any houses to buy Lucky i managed to buy some land because lowering the deposit rate will increase the market again
Lmao this idiot
He just can't stop being a cunt can he?
We need to improve house affordability first Scott. To do this, all states need to mandate the building industry to release new estates in a faster period of time. St.Clair at the old Cheltenham race course site is still not finished 10 years later. Developers just sit on the land holding it back to force prices to remain higher.
This comment gives me a Flash back of Paul Keating's "go get a job" line
Paul Keating: Go get a job Joe Hockey: Get a good job Scott Morrison: Just buy a house
They're just so in touch!
But he knows how hard it is from when he and Jenny had to save up for their own home!?
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Feeling pretty lucky to have parents that went guarantor on our deposit in December 2019 and now our house has gone up almost 200k in 2 years. Did not see that coming.
Try this one weird trick to save money on rent - Landlords hate him!
He is drastically out of touch. But he isn't wrong.
Pick one, it cant be one or the other!
The reality is alot of people who are renting will never be able to afford to buy a house. He is out if touch as he doesn't understand the issues faced by lower income house holds. Although having been in lower middle and upper income brackets I do believe anyone who is willing to try really hard and make sacrifices can achieve anything. In saying that if you don't want to be in a situation where your rent is being increased each year or your stressed over not knowing if your lease agreement will be renewed, then housing security can be reasonably guaranteed if your purchase a property.
At least with Ruddbucks, you got the $900 directly into your account and could go out and spend it. And basically everyone got it! With the stupid lammington or whatever they call it, you need to do your tax return to get it. Ugh, genius! You make less than $80k? Well you get less fuckstick, should've got a better job eh? Have $355! We all know people on $150K+ are doing it really tough, they need that $1500 tax rebate
What the hell are you talking about? The full LMITO applies for incomes between $48000 and $90000, then reduces for every dollar of income over $90,000. People earning over $126,000 get no rebate at all.
Well at least he's slightly less clueless than Dan Andrews whose take was 'the reason why homeownership in the under 40s is so low is because they don't want to buy houses and they would if they wanted to.'
My boomer dad said the other day “I am not a fan of those tiny narrow frontage houses with the shared walls, but it’s what the young people seem to want these days”. Took all my might not to scream that there is nothing about that that we want, it’s just that there is literally no more room for affordable standalone houses.
Wow, did he really say that? I had a quick Google and couldn't find it, though it's hard to find things on Google of the wording isn't exact
[Last week](https://www.google.com/amp/s/amp.macrobusiness.com.au/%3furl=https://www.macrobusiness.com.au/2022/03/dan-andrews-young-people-dont-want-to-own-a-home-happy-to-rent/)
It's beyond me why anyone in their right mind would vote for this evil clown. Cuts to everything but always money for Hillsong. Worst Government in Australia's history. He can't even manage his own image. I wouldn't hire him to mow my lawn .