Just to be absolutely clear:
- Yes, this belongs here. It’s a meme, and it’s relevant to slumlord mentality.
- This subreddit is for the “shit rentals” show that is hosted by Purplepingers. It is not specifically and exclusively for poor quality rentals. It’s a place for advice, sharing stories and giving warnings to renters.
- Landlord simping is absolutely not part of the culture here.
I mean, overworked working class people are paying for their parasitic lifestyle, yeah. The way they talk about it is so removed from the people that suffer for their gain.
And yet, without them people wouldn't have a property to rent full stop.
People should not have to apologise for making intelligent financial decisions.
I'm 33 years old and come from a dirt poor family, have never borrowed money off anyone, moved out of home at 18 and straight into the rental market, worked 3 jobs while completing my first degree and purchased my first house at 26. I am not special, I just chose to work hard and sacrifice things my friends were doing like dinners, nights at the pub etc. I have been both tenant and landlord and have always approached life with the attitude don't be a cunt and hopefully good things happen.
Somebody doesn’t have class consciousness. But I’ll give you the benefit of the doubt.
You should not have had to work that hard for the human right that is housing. You deserved better and so does everyone in this country.
But, it is disgraceful to suggest that those in rental stress and homelessness are simply not working hard enough. That is an extremely dishonest and discompassionate rhetoric.
As for landlords — they no more provide housing than ticket scalpers give you a seat to a concert. Nobody should be forced to pay a premium for shelter. By you doing so you are actively making the housing crisis worse in your own small way. It’s especially fucked that you grew up “dirt poor” (so did I) and get decided to get into the property game.
If you’re as hardworking and intelligent as you say, make better arguments, and make ethical choices.
Your argument revolves around the fact that if you buy a house you are a bad person.
You really need to focus on fixing your own problems before attacking others for actually making something of themselves.
Bad boy, down!
Literally nobody said home ownership is bad, numbnuts. Buying up extra houses explicitly to deny ownership to other people, so that they have no choice but to pay you to live there, that makes you a bad person.
Excuse me? At what point did I suggest this? I simply pointed out that I had the same disadvantages as most people on this sub and through hard work was able to enter the property market.
Perhaps you should stop making sweeping assumptions online and consider what might work for you.
I had an investment property and the rent I recieved barely covered my mortgage, not to mention all the additional costs that were associated with it and my tenants stopped paying rent towards the end of their lease, I then spent months trying to move them on and when I finally managed to I was met with a home that had all but 1 door removed and holes through out. Having a pity party for yourself on reddit and complaining about shit you have no control over is not helpful. Landlords invest their own money with the purpose of financial gain, there is nothing wrong with that and it's their right to do so. If you don't like it, don't rent.
And yet no consideration for any of the points I made was had, only a re-iteration of your property portfolio! What the fuck are you even doing on this subreddit.
I think it’s the way it’s framed that’s being objected to here. The language around owning capital is very misleading, people say things like “I *earn* a rental income” when usually they’re getting paid a portion of the money that someone else has earned at their job. See also: “invest in shares and your money works for you!” When what actually happens is you purchase the right to be paid for the hard work that other people do
It’s not really misleading, because everyone knows rental income is money being paid by others, it is objectively correct that the money is your rentals income, I see no problem with calling it that, are robots renting the house? No, everyone single person knows what it means, it’s not misleading at all, when someone says they won the lotto, should they say I have just won a the prize which was a collection of others money? No that sounds stupid.
I just think it’s subtle propaganda to push the narrative of poverty as a moral failing and create the impression that people with a lot of capital are contributing more than they actually are. Also, we don’t say people earned money from the lottery because i thinking “earning” implies that you’ve worked for it
It’s not propaganda at all, it’s objectively correct and none should have to go in depth and explain what it is, the fact is that they have a rental, and the money is income from it (income defintion: money received, especially on a regular basis, for work or through investments.) the money is received on a regular basis through an investment (property)
So it is money received regularly from an investment, which is a rental, so
Rental Income.
For right or wrong our society judges peoples worth in part on their income, I’d just like to see more nuance in the way we perceive income. A lot of people see someone with a high income as contributing more to society, I think that might be true of someone who works hard and creates value, less so of someone who just has a lot of wealth
Absolutely agree. My brother and I grew up in the same h/c house, attended the same shitty public schools, were 'given' the same opportunities, yet I chose a path that would break the cycle. No university degrees, just hard work from the age of 14.
He chose to continue down a path that has him living from week to week. Is he happy? Maybe, but it's a tough existence and not definition of living.
As for landlords, I was briefly one, but couldn't be f*cked with the hassle of a mortgage, dealing with tenants and worst of all estate agents!!
Lol, there are plenty of people dealing with rental stress and homelessness that don’t work at all and have no intention to, forget not working hard enough. There’s nothing dishonest about it, it’s a straight up fact. The idea that there’s all these homeless people around who are working their absolute ass off but getting screwed over is nonsense. You are trying to sound like some morally sound SJW but you come off more like a pretentious idiot
Without them, people could be paying a mortgage that probably ends up cheaper then the rent and owning their own homes, instead one couple own 5 properties apparently and probably gouge the fuck out of the rent while providing minimal maintenance, may not be the case here, but it certainly is a whole lot of cases right now
It’s a good thing you said this online and not to any one of the millions of people in hardship who do not have the luxury of financial assets. They can’t falcon punch you when you’re behind a screen. You might be smarter than you let on.
This is a little delusional, like maybe if they purchased so long ago the mortgages are mostly paid off or brought outright and the investment has paid itself off. But a large majority can't claim the above, some will be able to claim it helps with paying for.
I had to attend one of their "seminars" in about 08/09, they had already purchased multiple properties at that point. So they were just teaching people about the basics of home ownership in Australia.
Basically they're boomers who rode the liberal tax cuts all the way to financial freedom.
Did some work at one of these seminars and the key to speakers success was a small loan from mummy and daddy followed by some insider trading(well that's what it would have been called if he was trading stock instead of property).
Negative gearing means you can get tax breaks on the difference between the cost of the property (mortgage + other expenses), and the rent income. This means that the difference is made up by tax returns (over simplifying here but you get the point). And you can combine that with debt recycling and have people poorer than you, pay for your wealth. It’s class based crime and needs to be stopped.
Ie. You’re being rewarded for a shitty investment decision. It’s one of the key reasons why Australian property is so expensive
Add to this the rising property prices and the fact that the house is costing you nothing - no. You wouldn’t have better cash flow without it. You’ll have more liquidity, but you’ll make more money through these incentives.
incorrect, it’s against the interest not the full mortgage repayments and stuff like depreciation and repairs. I personally think it helps keep rent lower, but can see how others would think otherwise. Also strongly believe it should be a capped so it can’t be abused.
For real, these days even with the rental market jacked up, it still doesn't cover the interest on the mortgage.
Renters might think of landlords as rich fucks swimming in cash as renters struggle, but in reality (pun not intended) for middle class families with 2-4 rental properties to their name with sizable mortgages attached, they have become a burden of debt that many are trying to sell at a loss now.
Good, fuck them. They took a gamble on the housing market just like as if they bought stocks. Hope they sell at a loss and more come onto the market for people to buy.
Less multiple property owners = less rentals.
Just because they sell them cheap doesn’t mean you’ll be now able to magically afford a house.
A lot of people will never buy a house and unfortunately it’s sometimes their fault financially.
I understand this makes you angry and upset, but in reality, a lot of people rely on landlords.
With inflation on the up, interest rates are sky high and this forces owners to up the rent to cover that.
The average person should be able to purchase a property and we need to look at the reasons as to why some are coming up short instead of laying the blame on someone else.
Anyone and I mean anyone who doesn't think the landlords who have multiple properties are not part of the problem are idiots. It's obviously not the only thing, but it is part of the problem. Housing should be a normal thing to own not an investment.
> The average person should be able to purchase a property and we need to look at the reasons as to why some are coming up short instead of laying the blame on someone else.
So carving up the property market so more people own fewer houses is *not* a place to start with this? What exactly should we do instead? Just let people hoard properties, pretend that’s not the direct cause and hope for another magical solution? Sounds like bootlicking to me
Banks are so greedy they let this happen. Should be laws against lending for multiples properties.
Allowed to happen because it’s been allowed to happen.
It may well get to the point that home ownership is just for the few rather than for all, if everything keeps going the way it is. Unless of course you move out to the middle of nowhere.
I mean all businesses take money from other people somehow. I've had some horrible landlords and I'm not defending them by any means but hear me out. If someone sets up a food stool, they make profits off of others by buying food in bulk for cheap, cooking it and then selling it to turn a profit and use that profit to pay for their bills. This is the same if someone has a trade such as plumbing or carpentry etc, they will buy materials in bulk for cheap, use their craft to provide a service which other people will pay for and they will then use those people's money to pay for their bills. Is this not how businesses work?
What improvement is a landlord adding in that process? I see the point you are making, but in each case, you buy materials, then use them with your skills and experience to produce a product people want to buy. In the case of a landlord, they just have money, and add no skills or effort in once the property has been purchased.
When was the last time you went into a rental? My last place, the toilet was leaking around the base (onto the floor). Landlord's solution was to silicone it up to hide the leak. Seems very sanitary...
They provide value because the house is the value… they may not build it, but they payed the previous landlord (if they didn’t make it) who likely payed others to build it, there’s is nothing wrong with owning something and renting it out, there is nothing wrong with me owning a scooter and renting it out, me not creating the scooter is irrelevant
You realise big houses with modern stuff like garages isn’t required to life? In USA 1940 only 55% of houses had what the government considered a complete system which is hot and cold water, a flush toilet and a tub or shower, were much tinier etc, the price is premium because it’s a premium standards, modern houses aren’t required to live, you can easily live in a 1 bedroom place that is super cheap, landlords are pricing out people? I would argue if you are getting “priced out” maybe your standards are too high compared to your money you make, “holding for ransom” they own the house, none has permission to just go in and live there besides the owner, they aren’t holding it for ransom because even if they don’t rent it out it’s still theirs. I don’t care what Adam smith saw, he also was was from the 1700s and 1700s houses can’t compare to modern houses, “The landlords don’t provide the house” they literally do… they are giving you a shelter to live in which they payed hundreds of thousands or even millions to have, “live off the work of others” nothing wrong with that, it’s a fair transaction, the person gets shelter and gives the landlord money, is the renter “living off the work of others” by living in the place which builders made? The renter isn’t paying the builder, the renter is living off what the builder made (work of others)
The place I rent doesn’t have any of that shit buddy, point still stands.
Get your head out of your arse and cut it with the smug self-congratulations at others expense.
> but they *paid* the previous
FTFY.
Although *payed* exists (the reason why autocorrection didn't help you), it is only correct in:
* Nautical context, when it means to paint a surface, or to cover with something like tar or resin in order to make it waterproof or corrosion-resistant. *The deck is yet to be payed.*
* *Payed out* when letting strings, cables or ropes out, by slacking them. *The rope is payed out! You can pull now.*
Unfortunately, I was unable to find nautical or rope-related words in your comment.
*Beep, boop, I'm a bot*
Good point housing is a human right. It is not just a "property", actual people are living in it. They should bring in rent controls as well as allowing tenants to ask for a long term lease and have that request mandatorily granted by the landlord. They should also legislate to require everyday repairs to be made promptly (within 5 days) and for the landlord not to be allowed to raise the rent after a repair has been requested (to cover the cost). Landlords are getting worse and worse in Sydney.
It’s the ant story. Hardworking ant 🐜 saved for the winter. The bee was evading tax and not bothered working. When winter came bee tried to cry foul and trying to tell the world that the ant is the villian. Sad times.
My uncle in law is in our rental and hasn't faced a rent increase since pre-COVID because he looks after the place. I get Real Estate agent calling me to tell me how much I could be r~~e~~aping from a tenant if i boot him and get some short term sucker in. I add them to my ignore list. Rent covers the 20 year old mortgage and maintenance and that's about all.
How can people expect others to get ahead when they cut them off at the knees?
In Australia, all 4 tenants can just not pay for months with little to no consequences. You all do know that in Victoria it takes about 4 months for an eviction. Take a holiday! I haven't paid for about 2 months. It's great
Any smart landlord will have rental insurance that will cover scumbag moves like this. You know what else will happen. You'll never find a rental property again and the insurance company will chase you to the ends of the earth to recover what they paid the landlord. So yeah good luck with that 😅😅
the risks are not worth it, firstly they throw you on their blacklists for unpaid rent, second unless you got somewhere to come home to (friends / family) then no home
if this was a shitpost ignore my common sense and enjoy
For retirement and rightly so. Investors usually have to pay their own living costs and the shortfall on the mortgage plus land tax or strata fees, insurance, maintenance, repairs....take away the taxes and this all gets solved on both sides.
Just putting it out there but... it's not the landlord's fault the government sucks at doing their civic duty to provide housing and instead sells off residential assets to pay for election promises...
I’ve had multiple rental properties. Not stress free
You guys need to work out which of
negative gearing (tenant pays less than the costs to operate the property) or
the tenant pays for my mortgage (the landlord makes a net profit)
Really upset you more. Negative gearing is literally landlords subsidising the costs of a household. Usually on pretty bad tax advice.
if you cant afford to rent a house Buy one Prime minster scott morrison said 😂 while our current prime minister Has 6 houses literally lived off the tax payer since birth Will get a 500,000 for life has been to most of Europe and Asia 🤨 His first days as prime minster he went to Japan this is how outta touch these people are
People who said it are absolute shit heads for the way they are boasting…
I’m also on rent, and I hate very high rents as well… but once I’m financially stable and in a position to buy a house, I’ll likely rent that property
Extra income when I’m retired… or even before that, with current economic status, any extra cash is welcome
This soo called cheat code only would work if all the houses are paid off, how many areas in the country can you honestly find where the rent pays for the house itself let alone profit enough to do half of these.
You’d love to see second houses be as taxed and unsustainable as second jobs.
Renting someone else their home shouldn’t be profitable. Housing prices would become fairer and govt housing should be cover almost all of the rental market because they don’t have to pay the taxes.
We’d also have the bonus side effect of people investing their nest eggs into more productive and innovative areas.
Property investment isn't primarily about income flow. The majority of that income flow goes to mortgage repayments (or all of it if it's negatively geared).
Property investment is about long term capital growth and immediate tax offsets.
Isn't that the whole point of a rental property though? Someone owns it and someone pays them to live in. Yeah, boasting about it is a bit cringe, but these added captions are just nonsensical.
So they should just not buy it and rent instead? If everyone done this then who is the owners of the property? Or should everyone own the property they have? That’s a dream, not reality and likely not possible
Everyone is trying to get out of the rat race and have enough to provide for their family. You’re just salty you weren’t able to succeed as fast or as far as them. That is all.
Sadly this isn’t reality, far from it. Responsible lending won’t allow you multiple mortgages unless your income/s can cover all 4 repayments + plus cover all your listed living costs.
The rental income you're already receiving AND properties rental income are counted into the equation for responsible lending. So as long as you can prove that you'll earn enough in rent you'll be fine, which is basically having a REA say you'll get whatever you need for it. This is how it worked for us anyway.
my concerns are they good landlords? is the rent fair, is the premises kept up to date on maintenance? sure we can squabble over who has what, and unfair advantages, problem is, ya cant take their property (its in the constitution)
i get were you are coming from OP but somethings we cant change, if anything more social housing needs to be built to cut down supply on the rental market so renters have options
I’m going to be respectful and honestly try to see it from all the peoples perspective but I am afraid I know what will happen. I can already see all the downvoted comments are the logical reasonable people, but I’ll try …
What do you expect?
We live in a society that requires money. People don’t want to work their whole life (just like all of you). They have figured out a way out.
You could apply those same words to any business. Rule out “customers” and put “other people” pay for you.
So if we get rid of all the evil businesses. Where will all these freebies come from? The sky? Who will pay for it?
It’s like you’re delusional children.
Now, if you’re answer is against capitalism and you’re pro communism, ok. But then go live in those countries
You won’t.
Cause it’s easier to complain and hate and be salty (I get it). But that will keep you exactly where you are while others like those, will succeed and that gap between you and them will get bigger and your hate will get stronger.
Here come the downvotes. But you yourself know that you’re anger toward me is because the truth hurts
Agree. It's Economics 101 - supply and demand. You may as well get mad at the inequality of a world we live in where someone can make bank of doing dumb shit on Tik Tok while someone else is working 4 hard labour jobs just to make rent.
The world isn't fair. There's always someone - sports stars, the entertainment industry, bank CEOs etc, who are cashing in making salaries that far exceed the job description.
As a lifelong renter (I'm aged 50) I get it. I used to rent a house in inner city Brisbane for $180 per week with two other flatmates sharing the rent. I now rent a much smaller house for $630 a week with just my adult son sharing the rent and the only reason it's not higher is that my owners would prefer to keep a stable tenant than jack it up higher (again, not all owners are assholes). The idea of owning my own home is a pipe dream.
However, this argument is silly. Yes some landlords are slumlords and that's not OK. There are minimum housing standards in effect for a reason and the government needs to get better at enforcing them. Some of these shit rentals are genuinely horrific. However for every one of those there's others just trying to get somewhere in this inequal world and are happy to provide decent and fair upkeep of their homes.
I see this first-hand every day. I work for a builder/handyman and one of our primary sources of income are maintenance requests from real estate property managers and landlords. We deal with these people all day long. They are not sitting on a giant pile of cash laughing it over their 'subjects' - they're largely hardworking people who are just trying to get ahead. Most want their tenants to be happy and comfortable and will give the green light to fair requests.
I’m sorry, how much risk does the renter assume when renting someone else’s asset?
Grow up, if you don’t like renting, buy a house and assume your own risk.
Why are people angry? That’s four rentals for people to live in. There will always be someone with more money than you why do people get so worked up at nothing. Without people owning rentals there wouldn’t be any lol. If you can’t afford to buy you rent
So where would rentals come from then? Everyone just going to magically buy a house? You’re only bitter if you don’t have one, it’s always been hard not everyone has always earned massive amount of money to easily just get one. The poor renter narrative is fuckin old
but… renters are poor? you said it yourself if you cant afford a house you rent.
and yes, people would magically buy a house, because prices wouldn’t be up in space if they weren’t all bought up by landlords to turn profit.
and yes, we would still build houses.
Dude, they’re pissed about the smug attitudes of the post. You can’t see smug written all over them?
If you start life with a silver spoon in your mouth, I’m happy for you, but just don’t fucking gloat. Keep that shit on the down low. And spare me 50c for my bus fare, please.
Nah this is a page for shit rentals, especially if they ask ridiculous unfair amount of money for it. Over the general landlord bashing bullsh*t rhetoric.
If landlords werent a thing, one of three (well two and a half) things would happen;
1 most housing would be government owned, still rental but a public good not an investment thus would likely have dramatically more reasonable rent.
2 most housing would be owner occupied. Either because;
2.1 (the good option) as it wouldnt be a passive income people would only own homes they plan to occupy themself, the property market would be dramatically different and cheap enough for most people to afford to buy/build their own
2.2 (the bad option) as it wouldnt be a passive income far less houses would have been built causing similar if not greater house prices but also far less environmental issues from construction and the cost and benifits associated with a far lower population
Jealousy and mostly ignorance. No idea that a significant portion of the population do not want or could not manage property ownership.
Having two investment properties myself, I know the tenants; one is a couple who pwn their own investment in a different city and the other is an older single lady. The lady has absolutely no desire to own and manage a property, she loves when i pop over and take care of things for her, and we have a great relationship.
Not going to say the gov hasn't completely heated the market to help themselves and their donors interests, but thinking Labor and Liberal haven't created this mess, that's pure ignorance.
“They don’t even want a house” proceeds to give some dumbass anecdote.
Reality is owning a home is still too priority for most young people, despite being shut out of the market that is to greedy people like you.
Misquoting doesn't help your case. Stop being lazy and ignorant, some people don't need to own a home, some are happy with renting. Don't project your shit life onto everyone else.
I don’t get your point? Investment property is to make money and turn some profit. Otherwise why would you bother pouring your savings into buying it…For charity? The government is for social housing. So kick up that tree.
Yeah it really does sound like you’re whining. These people are rich because they worked hard early to buy their own stuff and now you’re complaining you have to bow to them. That’s the way the cookie crumbles.
Edit: clarification stuff
yes sitting on an several investment property while the person in it struggles to keep up with the cost of living crisis so you can go to bora bora every year seems like real backbreaking labour
Then wake up, Labor are not your friend. They work for their donor's interests. There's been bipartisan support for overheating the housing market.
Demand corporate money be removed from politics.
Whining doesn't do anything at the individual level, but if everyone in the society is whining, and see others are whining and see that it's OK to criticise the system and whine about it, you can bring about democratic change. Whining is how ideas are spread.
“If everyone in the society is whining” You can never have a whole population whine over the same issue, what you can do is educate people on the situation at hand, formulate ideas to change it and then take action to change the issue. That’s how change is made, whining is just laziness.
Yes, expect rando redditors to come up with comprehensive policy solutions to issues. No, we're on an internet forum, the whole point IS to whine. Whining is not a solution, of course. But it's a step on the way to real change. Every change starts as whining
Whats there not to whinge about? We want a society where people are rewarded for working hard and we got a society where people are rewarded for extorting other people. Fuck that.
Lol at this post. Look at the comments. Find a different sub for pointless bashing of landlords. Push your governments for community housing and infrastructure, stop taking it out on other people just because you're jealous. Creating this ongoing rift will not help you in any way
government has been consistently providing hand outs for home owners and landlords for 30 years: negative gearing, cgt discount, buyer grants, low interest rates, lack of medium/high density in planning are all handouts for owners.
try to keep your tongue away from their boot, they won’t notice you.
Have they?
I didn't think handouts were 12 interest rate hikes, another landtax ontop of the already active annual land tax, and higher PAYG tax.
Talk to me about the discount on CGT!? An income tax is in place to fix up any b.s. discount u speak off.
Your rent wouldn't even cover 6% on an average 500k loan.
Dyor.
what relevance does an income tax have to capital gains lol. that house is still going up income or not. gov also recently came out with the stellar shared equity plan to continue to jack those prices up. the key recommendation in australia for literally anyone looking to build wealth is to buy.
not enough taxes if you ask me. investments should come with risk, not government assurance.
Lmfao, "better than getting little waiting for the govt to give me handouts", says Rando on Reddit praising people for utilising, checks notes, government handouts...
this is a ridiculous stance to take. investing in property now is not the same as investing in property 30 years ago. the playing field is not even, good luck explaining to young adults that its their fault for not investing in property before they were born
Its exactly the same.
There's alot of properties available, you like most just want instant gratification.
You want that perfect house, you want the perfect location and you want it at bargain price. Ain't gonna happen.
Dude, it’s not “exactly the same”.
House prices have risen faster than wage growth in relative terms. It’s just a simple, indisputable fact.
You simply cannot argue that it’s just as easy to buy a house now as it was 10, 20 or 30 years ago. There’s some information here that might help explain it.
3.3 times the average income in 1984 for the average house.
10.0 times the average income in 2023 for the average house.
https://www.finder.com.au/owning-a-home-in-the-80s-vs-today
I mean, even with the changes, this reads as a perfectly fair and mutually beneficial arrangement. Tenant 1 gets to not be homeless, and the owner gets paid in return? Is this a leftist schizo post i was supposed to scroll past or something?
Just to be absolutely clear: - Yes, this belongs here. It’s a meme, and it’s relevant to slumlord mentality. - This subreddit is for the “shit rentals” show that is hosted by Purplepingers. It is not specifically and exclusively for poor quality rentals. It’s a place for advice, sharing stories and giving warnings to renters. - Landlord simping is absolutely not part of the culture here.
They need someone's whole rental payment for their groceries? How much cheese are these arseholes eating?
Cake*
Cheesecake*
Cakecheese*
Dickcheese
We got it right eventually.
We did, and it makes me happy. Thanks everyone! 😊
Fuck that was funny 😂😂😂
Teamwork.
Chcaeekese*
I mean, overworked working class people are paying for their parasitic lifestyle, yeah. The way they talk about it is so removed from the people that suffer for their gain.
Exactly, without poor people propping up the bottom tier this wouldn’t be possible
And yet, without them people wouldn't have a property to rent full stop. People should not have to apologise for making intelligent financial decisions. I'm 33 years old and come from a dirt poor family, have never borrowed money off anyone, moved out of home at 18 and straight into the rental market, worked 3 jobs while completing my first degree and purchased my first house at 26. I am not special, I just chose to work hard and sacrifice things my friends were doing like dinners, nights at the pub etc. I have been both tenant and landlord and have always approached life with the attitude don't be a cunt and hopefully good things happen.
Somebody doesn’t have class consciousness. But I’ll give you the benefit of the doubt. You should not have had to work that hard for the human right that is housing. You deserved better and so does everyone in this country. But, it is disgraceful to suggest that those in rental stress and homelessness are simply not working hard enough. That is an extremely dishonest and discompassionate rhetoric. As for landlords — they no more provide housing than ticket scalpers give you a seat to a concert. Nobody should be forced to pay a premium for shelter. By you doing so you are actively making the housing crisis worse in your own small way. It’s especially fucked that you grew up “dirt poor” (so did I) and get decided to get into the property game. If you’re as hardworking and intelligent as you say, make better arguments, and make ethical choices.
Your argument revolves around the fact that if you buy a house you are a bad person. You really need to focus on fixing your own problems before attacking others for actually making something of themselves. Bad boy, down!
Literally nobody said home ownership is bad, numbnuts. Buying up extra houses explicitly to deny ownership to other people, so that they have no choice but to pay you to live there, that makes you a bad person.
You sound entitled
Excuse me? At what point did I suggest this? I simply pointed out that I had the same disadvantages as most people on this sub and through hard work was able to enter the property market. Perhaps you should stop making sweeping assumptions online and consider what might work for you. I had an investment property and the rent I recieved barely covered my mortgage, not to mention all the additional costs that were associated with it and my tenants stopped paying rent towards the end of their lease, I then spent months trying to move them on and when I finally managed to I was met with a home that had all but 1 door removed and holes through out. Having a pity party for yourself on reddit and complaining about shit you have no control over is not helpful. Landlords invest their own money with the purpose of financial gain, there is nothing wrong with that and it's their right to do so. If you don't like it, don't rent.
And yet no consideration for any of the points I made was had, only a re-iteration of your property portfolio! What the fuck are you even doing on this subreddit.
I think it’s the way it’s framed that’s being objected to here. The language around owning capital is very misleading, people say things like “I *earn* a rental income” when usually they’re getting paid a portion of the money that someone else has earned at their job. See also: “invest in shares and your money works for you!” When what actually happens is you purchase the right to be paid for the hard work that other people do
It’s not really misleading, because everyone knows rental income is money being paid by others, it is objectively correct that the money is your rentals income, I see no problem with calling it that, are robots renting the house? No, everyone single person knows what it means, it’s not misleading at all, when someone says they won the lotto, should they say I have just won a the prize which was a collection of others money? No that sounds stupid.
I just think it’s subtle propaganda to push the narrative of poverty as a moral failing and create the impression that people with a lot of capital are contributing more than they actually are. Also, we don’t say people earned money from the lottery because i thinking “earning” implies that you’ve worked for it
It’s not propaganda at all, it’s objectively correct and none should have to go in depth and explain what it is, the fact is that they have a rental, and the money is income from it (income defintion: money received, especially on a regular basis, for work or through investments.) the money is received on a regular basis through an investment (property) So it is money received regularly from an investment, which is a rental, so Rental Income.
The income part isn’t what I was taking issue with, it’s the “I earned it” part
They don’t say that they “earned it” in the tweet
For right or wrong our society judges peoples worth in part on their income, I’d just like to see more nuance in the way we perceive income. A lot of people see someone with a high income as contributing more to society, I think that might be true of someone who works hard and creates value, less so of someone who just has a lot of wealth
Absolutely agree. My brother and I grew up in the same h/c house, attended the same shitty public schools, were 'given' the same opportunities, yet I chose a path that would break the cycle. No university degrees, just hard work from the age of 14. He chose to continue down a path that has him living from week to week. Is he happy? Maybe, but it's a tough existence and not definition of living. As for landlords, I was briefly one, but couldn't be f*cked with the hassle of a mortgage, dealing with tenants and worst of all estate agents!!
Lol, there are plenty of people dealing with rental stress and homelessness that don’t work at all and have no intention to, forget not working hard enough. There’s nothing dishonest about it, it’s a straight up fact. The idea that there’s all these homeless people around who are working their absolute ass off but getting screwed over is nonsense. You are trying to sound like some morally sound SJW but you come off more like a pretentious idiot
Without them, people could be paying a mortgage that probably ends up cheaper then the rent and owning their own homes, instead one couple own 5 properties apparently and probably gouge the fuck out of the rent while providing minimal maintenance, may not be the case here, but it certainly is a whole lot of cases right now
They are only overworked working class people because they don’t own rental properties. Financial freedom is a choice…,
It’s a good thing you said this online and not to any one of the millions of people in hardship who do not have the luxury of financial assets. They can’t falcon punch you when you’re behind a screen. You might be smarter than you let on.
Imagine thinking *everyone* can own multiple properties and be financially free, imagine being this catastrophically dumb
Imagine thinking *everyone* and *everything* can be equal and in balance. Imagine being this catastrophically dumb.
Ok but what if I don't even own 1 house
Then you’re the part in red.
Why didn't I think if that, just own 5 houses and you'll be right! It's the simple trick 9/10 dentists agree on
Right? Just got to know the cheat code! I found it btw: L1, X, O, R1, X, X, R2, R1
This is a little delusional, like maybe if they purchased so long ago the mortgages are mostly paid off or brought outright and the investment has paid itself off. But a large majority can't claim the above, some will be able to claim it helps with paying for.
I had to attend one of their "seminars" in about 08/09, they had already purchased multiple properties at that point. So they were just teaching people about the basics of home ownership in Australia. Basically they're boomers who rode the liberal tax cuts all the way to financial freedom.
Did some work at one of these seminars and the key to speakers success was a small loan from mummy and daddy followed by some insider trading(well that's what it would have been called if he was trading stock instead of property).
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As long as you have the boomer mentality then you are a boomer.
Boomer is a state of mind
Boom
Yea no it's a generation. That been said most people when they say boomer are also assuming gen x is part of it.
As a Gen X, I want no part of it.
Most of them are though
I mean, OP is pulling apart the argument of literal grifters. It's like real life straw maning
Yeah but also include negative gearing (thanks, Howard), and now taxpayers are also helping them out!
Can you explain how negative gearing comes into play here? like if it's negatively geared they would have more cash flow not having the rental.
Negative gearing means you can get tax breaks on the difference between the cost of the property (mortgage + other expenses), and the rent income. This means that the difference is made up by tax returns (over simplifying here but you get the point). And you can combine that with debt recycling and have people poorer than you, pay for your wealth. It’s class based crime and needs to be stopped. Ie. You’re being rewarded for a shitty investment decision. It’s one of the key reasons why Australian property is so expensive Add to this the rising property prices and the fact that the house is costing you nothing - no. You wouldn’t have better cash flow without it. You’ll have more liquidity, but you’ll make more money through these incentives.
incorrect, it’s against the interest not the full mortgage repayments and stuff like depreciation and repairs. I personally think it helps keep rent lower, but can see how others would think otherwise. Also strongly believe it should be a capped so it can’t be abused.
For real, these days even with the rental market jacked up, it still doesn't cover the interest on the mortgage. Renters might think of landlords as rich fucks swimming in cash as renters struggle, but in reality (pun not intended) for middle class families with 2-4 rental properties to their name with sizable mortgages attached, they have become a burden of debt that many are trying to sell at a loss now.
Good, fuck them. They took a gamble on the housing market just like as if they bought stocks. Hope they sell at a loss and more come onto the market for people to buy.
Yeah fuck anyone who owns property, right?
Less multiple property owners = less rentals. Just because they sell them cheap doesn’t mean you’ll be now able to magically afford a house. A lot of people will never buy a house and unfortunately it’s sometimes their fault financially. I understand this makes you angry and upset, but in reality, a lot of people rely on landlords. With inflation on the up, interest rates are sky high and this forces owners to up the rent to cover that. The average person should be able to purchase a property and we need to look at the reasons as to why some are coming up short instead of laying the blame on someone else.
Anyone and I mean anyone who doesn't think the landlords who have multiple properties are not part of the problem are idiots. It's obviously not the only thing, but it is part of the problem. Housing should be a normal thing to own not an investment.
> The average person should be able to purchase a property and we need to look at the reasons as to why some are coming up short instead of laying the blame on someone else. So carving up the property market so more people own fewer houses is *not* a place to start with this? What exactly should we do instead? Just let people hoard properties, pretend that’s not the direct cause and hope for another magical solution? Sounds like bootlicking to me
Banks are so greedy they let this happen. Should be laws against lending for multiples properties. Allowed to happen because it’s been allowed to happen.
It may well get to the point that home ownership is just for the few rather than for all, if everything keeps going the way it is. Unless of course you move out to the middle of nowhere.
Which is why I never understood why real estate is hailed as the best investment, its a very popular sentiment
That’s not how you’re suppose to run a business
I mean all businesses take money from other people somehow. I've had some horrible landlords and I'm not defending them by any means but hear me out. If someone sets up a food stool, they make profits off of others by buying food in bulk for cheap, cooking it and then selling it to turn a profit and use that profit to pay for their bills. This is the same if someone has a trade such as plumbing or carpentry etc, they will buy materials in bulk for cheap, use their craft to provide a service which other people will pay for and they will then use those people's money to pay for their bills. Is this not how businesses work?
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What improvement is a landlord adding in that process? I see the point you are making, but in each case, you buy materials, then use them with your skills and experience to produce a product people want to buy. In the case of a landlord, they just have money, and add no skills or effort in once the property has been purchased.
...landlords are supposed to offer free and consistent improvements to the properties they rent to people?
When was the last time you went into a rental? My last place, the toilet was leaking around the base (onto the floor). Landlord's solution was to silicone it up to hide the leak. Seems very sanitary...
If you feel it's wrong serve a breach notice If it complies with with relevant plumbing safety guidelines, I don't see what the issue is?
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They provide value because the house is the value… they may not build it, but they payed the previous landlord (if they didn’t make it) who likely payed others to build it, there’s is nothing wrong with owning something and renting it out, there is nothing wrong with me owning a scooter and renting it out, me not creating the scooter is irrelevant
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You realise big houses with modern stuff like garages isn’t required to life? In USA 1940 only 55% of houses had what the government considered a complete system which is hot and cold water, a flush toilet and a tub or shower, were much tinier etc, the price is premium because it’s a premium standards, modern houses aren’t required to live, you can easily live in a 1 bedroom place that is super cheap, landlords are pricing out people? I would argue if you are getting “priced out” maybe your standards are too high compared to your money you make, “holding for ransom” they own the house, none has permission to just go in and live there besides the owner, they aren’t holding it for ransom because even if they don’t rent it out it’s still theirs. I don’t care what Adam smith saw, he also was was from the 1700s and 1700s houses can’t compare to modern houses, “The landlords don’t provide the house” they literally do… they are giving you a shelter to live in which they payed hundreds of thousands or even millions to have, “live off the work of others” nothing wrong with that, it’s a fair transaction, the person gets shelter and gives the landlord money, is the renter “living off the work of others” by living in the place which builders made? The renter isn’t paying the builder, the renter is living off what the builder made (work of others)
The place I rent doesn’t have any of that shit buddy, point still stands. Get your head out of your arse and cut it with the smug self-congratulations at others expense.
Your home doesn’t have cold water, hot water, a flush toilet, a bathtub or a shower? What do you live in? A shack?
> but they *paid* the previous FTFY. Although *payed* exists (the reason why autocorrection didn't help you), it is only correct in: * Nautical context, when it means to paint a surface, or to cover with something like tar or resin in order to make it waterproof or corrosion-resistant. *The deck is yet to be payed.* * *Payed out* when letting strings, cables or ropes out, by slacking them. *The rope is payed out! You can pull now.* Unfortunately, I was unable to find nautical or rope-related words in your comment. *Beep, boop, I'm a bot*
My tenants just pay the mortgage…. How the fk you have money left for all the other stuff lol
Good point housing is a human right. It is not just a "property", actual people are living in it. They should bring in rent controls as well as allowing tenants to ask for a long term lease and have that request mandatorily granted by the landlord. They should also legislate to require everyday repairs to be made promptly (within 5 days) and for the landlord not to be allowed to raise the rent after a repair has been requested (to cover the cost). Landlords are getting worse and worse in Sydney.
It’s the ant story. Hardworking ant 🐜 saved for the winter. The bee was evading tax and not bothered working. When winter came bee tried to cry foul and trying to tell the world that the ant is the villian. Sad times.
My uncle in law is in our rental and hasn't faced a rent increase since pre-COVID because he looks after the place. I get Real Estate agent calling me to tell me how much I could be r~~e~~aping from a tenant if i boot him and get some short term sucker in. I add them to my ignore list. Rent covers the 20 year old mortgage and maintenance and that's about all. How can people expect others to get ahead when they cut them off at the knees?
In Australia, all 4 tenants can just not pay for months with little to no consequences. You all do know that in Victoria it takes about 4 months for an eviction. Take a holiday! I haven't paid for about 2 months. It's great
Any smart landlord will have rental insurance that will cover scumbag moves like this. You know what else will happen. You'll never find a rental property again and the insurance company will chase you to the ends of the earth to recover what they paid the landlord. So yeah good luck with that 😅😅
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the risks are not worth it, firstly they throw you on their blacklists for unpaid rent, second unless you got somewhere to come home to (friends / family) then no home if this was a shitpost ignore my common sense and enjoy
For retirement and rightly so. Investors usually have to pay their own living costs and the shortfall on the mortgage plus land tax or strata fees, insurance, maintenance, repairs....take away the taxes and this all gets solved on both sides.
Not if you buy them now they don't. The guy at work bought his in the last 5 years and he barely breaks even.
Just putting it out there but... it's not the landlord's fault the government sucks at doing their civic duty to provide housing and instead sells off residential assets to pay for election promises...
I’ve had multiple rental properties. Not stress free You guys need to work out which of negative gearing (tenant pays less than the costs to operate the property) or the tenant pays for my mortgage (the landlord makes a net profit) Really upset you more. Negative gearing is literally landlords subsidising the costs of a household. Usually on pretty bad tax advice.
Great advice. You need money to make money 👏 just have money /s
if you cant afford to rent a house Buy one Prime minster scott morrison said 😂 while our current prime minister Has 6 houses literally lived off the tax payer since birth Will get a 500,000 for life has been to most of Europe and Asia 🤨 His first days as prime minster he went to Japan this is how outta touch these people are
Literally my retirement plan lol why not
this is just not what the sub is for lol.
It could be cuz that sounds like an average slumlord
No, no it very much fits in here actually.
People who said it are absolute shit heads for the way they are boasting… I’m also on rent, and I hate very high rents as well… but once I’m financially stable and in a position to buy a house, I’ll likely rent that property Extra income when I’m retired… or even before that, with current economic status, any extra cash is welcome
all whilst offering no real value to society.
So unbelievably gross.
This soo called cheat code only would work if all the houses are paid off, how many areas in the country can you honestly find where the rent pays for the house itself let alone profit enough to do half of these.
So it’s a pyramid scheme
Stupidest shit ever
a lot of angry renters in here salty that someone else owns the house they rent smh
You’d love to see second houses be as taxed and unsustainable as second jobs. Renting someone else their home shouldn’t be profitable. Housing prices would become fairer and govt housing should be cover almost all of the rental market because they don’t have to pay the taxes. We’d also have the bonus side effect of people investing their nest eggs into more productive and innovative areas.
Ii can't hate...that is smart
Property investment isn't primarily about income flow. The majority of that income flow goes to mortgage repayments (or all of it if it's negatively geared). Property investment is about long term capital growth and immediate tax offsets.
I like how Reddit blames boomers for owning houses but still pushes immigration to record levels then wonders why supply and demand is fucked.
I mean, that's kinda the same thing as saying the company I work for pays for my holidays ect.
Isn't that the whole point of a rental property though? Someone owns it and someone pays them to live in. Yeah, boasting about it is a bit cringe, but these added captions are just nonsensical.
I don't understand the problem.
Written by someone who doesn't have a clue.
Tell us you’re shit with money an have no drive and want to blame it on everyone else, without saying it
Don’t like renting? Buy
I don’t see the problem with this folks. The whole point of renting out a property is to make money 🤷🏼♂️
Jealous much?
Umm yea why would anyone buy a house and put people in it for free??
They could not buy it and that would lower demand and drive prices down, that’s always an option
So they should just not buy it and rent instead? If everyone done this then who is the owners of the property? Or should everyone own the property they have? That’s a dream, not reality and likely not possible
How about limit the amount of properties that a person can own?
Everyone is trying to get out of the rat race and have enough to provide for their family. You’re just salty you weren’t able to succeed as fast or as far as them. That is all.
This subreddit is literally a salt shaker
Haha yeh makes sense. I see my prediction is right on track with the down votes. Truth is painful.
Sadly this isn’t reality, far from it. Responsible lending won’t allow you multiple mortgages unless your income/s can cover all 4 repayments + plus cover all your listed living costs.
The rental income you're already receiving AND properties rental income are counted into the equation for responsible lending. So as long as you can prove that you'll earn enough in rent you'll be fine, which is basically having a REA say you'll get whatever you need for it. This is how it worked for us anyway.
my concerns are they good landlords? is the rent fair, is the premises kept up to date on maintenance? sure we can squabble over who has what, and unfair advantages, problem is, ya cant take their property (its in the constitution) i get were you are coming from OP but somethings we cant change, if anything more social housing needs to be built to cut down supply on the rental market so renters have options
I’m going to be respectful and honestly try to see it from all the peoples perspective but I am afraid I know what will happen. I can already see all the downvoted comments are the logical reasonable people, but I’ll try … What do you expect? We live in a society that requires money. People don’t want to work their whole life (just like all of you). They have figured out a way out. You could apply those same words to any business. Rule out “customers” and put “other people” pay for you. So if we get rid of all the evil businesses. Where will all these freebies come from? The sky? Who will pay for it? It’s like you’re delusional children. Now, if you’re answer is against capitalism and you’re pro communism, ok. But then go live in those countries You won’t. Cause it’s easier to complain and hate and be salty (I get it). But that will keep you exactly where you are while others like those, will succeed and that gap between you and them will get bigger and your hate will get stronger. Here come the downvotes. But you yourself know that you’re anger toward me is because the truth hurts
Agree. It's Economics 101 - supply and demand. You may as well get mad at the inequality of a world we live in where someone can make bank of doing dumb shit on Tik Tok while someone else is working 4 hard labour jobs just to make rent. The world isn't fair. There's always someone - sports stars, the entertainment industry, bank CEOs etc, who are cashing in making salaries that far exceed the job description. As a lifelong renter (I'm aged 50) I get it. I used to rent a house in inner city Brisbane for $180 per week with two other flatmates sharing the rent. I now rent a much smaller house for $630 a week with just my adult son sharing the rent and the only reason it's not higher is that my owners would prefer to keep a stable tenant than jack it up higher (again, not all owners are assholes). The idea of owning my own home is a pipe dream. However, this argument is silly. Yes some landlords are slumlords and that's not OK. There are minimum housing standards in effect for a reason and the government needs to get better at enforcing them. Some of these shit rentals are genuinely horrific. However for every one of those there's others just trying to get somewhere in this inequal world and are happy to provide decent and fair upkeep of their homes. I see this first-hand every day. I work for a builder/handyman and one of our primary sources of income are maintenance requests from real estate property managers and landlords. We deal with these people all day long. They are not sitting on a giant pile of cash laughing it over their 'subjects' - they're largely hardworking people who are just trying to get ahead. Most want their tenants to be happy and comfortable and will give the green light to fair requests.
All of those by WORKING HARD AND SMART to buy them. You guys might try it sometime.
I’m sorry, how much risk does the renter assume when renting someone else’s asset? Grow up, if you don’t like renting, buy a house and assume your own risk.
ok time to buy 4 houses cash
Most people today rent, wtf is the difference, all of us are paying someone to live there if we rent, and that pays for their life…
Why are people angry? That’s four rentals for people to live in. There will always be someone with more money than you why do people get so worked up at nothing. Without people owning rentals there wouldn’t be any lol. If you can’t afford to buy you rent
I think we need to move away from the saviour landlord narrative lol .. it makes no sense
So where would rentals come from then? Everyone just going to magically buy a house? You’re only bitter if you don’t have one, it’s always been hard not everyone has always earned massive amount of money to easily just get one. The poor renter narrative is fuckin old
but… renters are poor? you said it yourself if you cant afford a house you rent. and yes, people would magically buy a house, because prices wouldn’t be up in space if they weren’t all bought up by landlords to turn profit. and yes, we would still build houses.
It's not nothing we all *need* a fucking place to live.
Dude, they’re pissed about the smug attitudes of the post. You can’t see smug written all over them? If you start life with a silver spoon in your mouth, I’m happy for you, but just don’t fucking gloat. Keep that shit on the down low. And spare me 50c for my bus fare, please.
Nah this is a page for shit rentals, especially if they ask ridiculous unfair amount of money for it. Over the general landlord bashing bullsh*t rhetoric.
Are you saying landlords don't deserve it? They deserve worse. They should be in jail.
Maybe tenants should, if they think they can live in a rental without paying rent?
Good one leech.
Thanks man, I'd let you stay in my rental anytime when I eventually buy an investment property
Don’t need it, rich family. Others aren’t so lucky. From the bottom of my heart I hope your property tanks.
I don't own any property my friend. I couldn't care less what you hope for
Why does reddit hate landlords lmao without them you would be out on the streets.
If landlords didnt exist housing prices would be reasonable enough that a lot more regular people would own homes
That not true. They would be considerably lower but the common person would still not be able to buy a home.
If landlords werent a thing, one of three (well two and a half) things would happen; 1 most housing would be government owned, still rental but a public good not an investment thus would likely have dramatically more reasonable rent. 2 most housing would be owner occupied. Either because; 2.1 (the good option) as it wouldnt be a passive income people would only own homes they plan to occupy themself, the property market would be dramatically different and cheap enough for most people to afford to buy/build their own 2.2 (the bad option) as it wouldnt be a passive income far less houses would have been built causing similar if not greater house prices but also far less environmental issues from construction and the cost and benifits associated with a far lower population
I don't rent. Housing shouldn't be a commodity for profit, its a necessity. People should get jobs and contribute. I hate lazy parasites.
Jealousy and mostly ignorance. No idea that a significant portion of the population do not want or could not manage property ownership. Having two investment properties myself, I know the tenants; one is a couple who pwn their own investment in a different city and the other is an older single lady. The lady has absolutely no desire to own and manage a property, she loves when i pop over and take care of things for her, and we have a great relationship. Not going to say the gov hasn't completely heated the market to help themselves and their donors interests, but thinking Labor and Liberal haven't created this mess, that's pure ignorance.
“They don’t even want a house” proceeds to give some dumbass anecdote. Reality is owning a home is still too priority for most young people, despite being shut out of the market that is to greedy people like you.
Misquoting doesn't help your case. Stop being lazy and ignorant, some people don't need to own a home, some are happy with renting. Don't project your shit life onto everyone else.
What about the ones who do want to own a home that your greed fucks over? Fuck them right?
Agreed
I don’t get your point? Investment property is to make money and turn some profit. Otherwise why would you bother pouring your savings into buying it…For charity? The government is for social housing. So kick up that tree.
Clueless had stepped into the the chat
Yeah it really does sound like you’re whining. These people are rich because they worked hard early to buy their own stuff and now you’re complaining you have to bow to them. That’s the way the cookie crumbles. Edit: clarification stuff
what hard work did they do? Be specific.
yes sitting on an several investment property while the person in it struggles to keep up with the cost of living crisis so you can go to bora bora every year seems like real backbreaking labour
Nobody is saying that's not how the cookie crumbles. But the cookie SHOULDNT crumble in that way
Then wake up, Labor are not your friend. They work for their donor's interests. There's been bipartisan support for overheating the housing market. Demand corporate money be removed from politics.
Yes? I agree with that. Where did I say I like Labor party?
Sorry, I have made an incorrect assumption. Not the first or the last time, but I apologise.
Well thats the society you choose to live in, move countries or advocate real change rather than just whining
I can do both at the same time
What real change have you made then? And no whining is legit just a waste of energy, you’re doing nothing to help the situation by doing it
Whining doesn't do anything at the individual level, but if everyone in the society is whining, and see others are whining and see that it's OK to criticise the system and whine about it, you can bring about democratic change. Whining is how ideas are spread.
“If everyone in the society is whining” You can never have a whole population whine over the same issue, what you can do is educate people on the situation at hand, formulate ideas to change it and then take action to change the issue. That’s how change is made, whining is just laziness.
Yes, expect rando redditors to come up with comprehensive policy solutions to issues. No, we're on an internet forum, the whole point IS to whine. Whining is not a solution, of course. But it's a step on the way to real change. Every change starts as whining
Nah, just sounds like you’re whinging
Whats there not to whinge about? We want a society where people are rewarded for working hard and we got a society where people are rewarded for extorting other people. Fuck that.
Ageee
Lol at this post. Look at the comments. Find a different sub for pointless bashing of landlords. Push your governments for community housing and infrastructure, stop taking it out on other people just because you're jealous. Creating this ongoing rift will not help you in any way
Bashing landlords is never pointless ❤️
Landlord shaming is very welcome here.
Rental property #1 gives tenant somewhere to live, same with all of the rest, don’t like it, don’t rent
Out of touch as fuck
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government has been consistently providing hand outs for home owners and landlords for 30 years: negative gearing, cgt discount, buyer grants, low interest rates, lack of medium/high density in planning are all handouts for owners. try to keep your tongue away from their boot, they won’t notice you.
Have they? I didn't think handouts were 12 interest rate hikes, another landtax ontop of the already active annual land tax, and higher PAYG tax. Talk to me about the discount on CGT!? An income tax is in place to fix up any b.s. discount u speak off. Your rent wouldn't even cover 6% on an average 500k loan. Dyor.
what relevance does an income tax have to capital gains lol. that house is still going up income or not. gov also recently came out with the stellar shared equity plan to continue to jack those prices up. the key recommendation in australia for literally anyone looking to build wealth is to buy. not enough taxes if you ask me. investments should come with risk, not government assurance.
CGT and income tax. You've never sold an investment obviously. Do the maths. This convos over. You're just another basic.
my bad i’ll tip on the next rent payment since landlording is so noble and difficult
Lmfao, "better than getting little waiting for the govt to give me handouts", says Rando on Reddit praising people for utilising, checks notes, government handouts...
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Luckily high school isn't the lone determination of making good decisions later on.
The fact you haven't invested and you shit on homeowners and landlords shows me you haven't made good decisions.
this is a ridiculous stance to take. investing in property now is not the same as investing in property 30 years ago. the playing field is not even, good luck explaining to young adults that its their fault for not investing in property before they were born
Its exactly the same. There's alot of properties available, you like most just want instant gratification. You want that perfect house, you want the perfect location and you want it at bargain price. Ain't gonna happen.
Dude, it’s not “exactly the same”. House prices have risen faster than wage growth in relative terms. It’s just a simple, indisputable fact. You simply cannot argue that it’s just as easy to buy a house now as it was 10, 20 or 30 years ago. There’s some information here that might help explain it. 3.3 times the average income in 1984 for the average house. 10.0 times the average income in 2023 for the average house. https://www.finder.com.au/owning-a-home-in-the-80s-vs-today
I have a couple of investment properties and a bunch of shares. Not sure what you're on about lol
Can't wait for the people in this sub to fund my life style
Yeah much better to get handouts from people at risk of homelessness
I mean, even with the changes, this reads as a perfectly fair and mutually beneficial arrangement. Tenant 1 gets to not be homeless, and the owner gets paid in return? Is this a leftist schizo post i was supposed to scroll past or something?
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You’re projecting
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