Australian property 'calamity' is coming

Discussion in 'Australia, NZ, Pacific' started by scarlet witch, May 30, 2017.

  1. Sallyally

    Sallyally Well-Known Member Donor

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    Are we all watching 4 corners about Chinese spying?
     
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  2. m2catter

    m2catter Well-Known Member

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    I agree 100% with both,
    cheerio
     
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  3. scarlet witch

    scarlet witch Well-Known Member Past Donor

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  4. crank

    crank Well-Known Member

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    The good thing is that they mostly (in about 99% of cases) buy strictly new, and/or off the plan, in inner urban areas. This leaves more old treasures for moi to restore and rent out/flip. Thanks, China :p
     
  5. scarlet witch

    scarlet witch Well-Known Member Past Donor

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    You a renovator Crank, it's the best way to do it isn't it. I like the buy one house put another in the back, renovate both and rent out philosophy :D
     
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  6. crank

    crank Well-Known Member

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    Absolutely agree with this. Granny flats/tiny houses in backyards should be legal in all urban areas. And they shouldn't just be legal, they should be facilitated .. fast-tracked. Some councils are already doing this, but unfortunately they're still mired in the 'minimum 60sqm' thing. When we progress beyond that burden, the door opens for tiny house living. An 800sqm block could easily accommodate a full size house and a couple of tiny houses, with room to spare. That brings multi-generational living closer, and can provide income for retired people etc.
     
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  7. crank

    crank Well-Known Member

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    If it's done well, it can be very good. If your council is sensible about it, of course.
     
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  8. crank

    crank Well-Known Member

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    Yes, a die-hard .. for my sins. I don't build, but I do love to save an old house. Since we invest in property anyway, we figured we might as well do it in a way we're passionate about. We select carefully for non-structural jobs, which slows down the hunt somewhat, but we get there in the end. Example: I have three inspections this morning, and suspect none will meet the criteria. On the other hand, I have an auction later this month for an 1890's place which is untouched. Of course, since it IS untouched, I'm one of a zillion who wants to get their hands on it :(
     
  9. Sallyally

    Sallyally Well-Known Member Donor

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    The Chinese in my street(not inner urban) have bought two house and a factory. They live in one house, rent the other to Chinese students and are going to develop the factory site. They started off with a fruit shop and a broken down old truck. They worked like dogs from ten years ago to do this. It's a shame they are such nice people.
     
    Last edited: Jun 5, 2017
  10. scarlet witch

    scarlet witch Well-Known Member Past Donor

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    The old homes are lovely when they are renovated, you certainly deserve every penny you make on them, they are hard work as well as a worthy cause :)
     
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  11. m2catter

    m2catter Well-Known Member

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    Yeap,
    concerning. Those ex commu countries, they do it one way or another. Both Russia and China are expanding, both meddling in foreign countries to strengthen their interests.
    And what are we doing in China, or Russia? Any idea someone? How are we protecting our interests?
    Cheers
     
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  12. m2catter

    m2catter Well-Known Member

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    Hmmm,
    an old friend of mine was a real estate agent, he said that granny flats are allowed (on a big enough block) right across the nation, however the shires don't want to make this known or publicized.
    Is he right? Someone with a proper background knowledge out there?
    Regards
     
    Last edited: Jun 6, 2017
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  13. m2catter

    m2catter Well-Known Member

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    Yeap,
    you just named the biggest difference between them and the modern us, they work(ed) like dogs.....
    I don't mind them, as long as they are part of our town/community/life.
    We are all human beings, aren't we?
    Regards
     
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  14. slipperyfish

    slipperyfish Well-Known Member

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    Last edited: Jun 6, 2017
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  15. Sallyally

    Sallyally Well-Known Member Donor

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    I think that it is very difficult for someone outside their system to protect themself from that system. They have a very different "ethic" from us.
    Your word isn't your bond with businessmen there. They've bought off at least two of our politicians(one retired from public service). Sam Dastyari has broken my heart. I was so sure he was genuine.
     
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  16. Sallyally

    Sallyally Well-Known Member Donor

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    I was just explaining to him, my outlook on life in my street and explained that we retired and built our house to enjoy the space around , not too many people and traffic, etc, and a veiled reference to people exploiting dual occupancy development.
    He took all this in and then said as if its an undisputed idea"but the demand is there". As I said they are nice people.
     
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  17. Sallyally

    Sallyally Well-Known Member Donor

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    It's a hard world now and we've been telling kids that they need a degree to find work. They seem to prefer being a barista in the city rather than a fruit picker in the bush. There have been horrible stories about labour procurers ripping off ill informed workers from Fiji, Asia etc, so I can understand them being put off seasonal work.
     
  18. slipperyfish

    slipperyfish Well-Known Member

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    The world is harder in some ways but perhaps we have all just become softer on the back of our prosperity and good fortune that things just seem hard due to the fact that we just don't desire to do them more so than the fact that they are actually hard.

    Workers being ripped off has been going on since Moses was a boy. Human nature is a funny thing, some individuals will give you the shirt off their backs. Then there are some that will rob a blind man of his walking stick.

    If you really are honest with yourself and sit back and think long and hard about it you will quickly realise that money is the evilest drug on earth, making people do the humanly unthinkable for a dollar more.
     
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  19. Sallyally

    Sallyally Well-Known Member Donor

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    "Or steal wheat from a blind chook". Is there more virtue in manual labour? A job is a job. I think the problem is that we expect too much. We expect that there is an easy way to prosperity , security and peace.
    That the love of money is the root of all evil doesn't answer all the questions. Religions have a lot to do with the humanly unthinkable too.
     
    Last edited: Jun 6, 2017
  20. slipperyfish

    slipperyfish Well-Known Member

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    I don't think we just expect, we think it is a birth right, because we were lucky enough to be born in Australia we simply deserve these things.

    The lifestyle that previous generations have worked hard to create for all of us who enjoy the fruits of their sacrifice is something that requires maintenance and renovation, much like the homes we have been talking about in this thread. If we do not step back and constantly maintain and improve the foundations will eventually crumble or the walls will rot and weather.

    If we were in another thread we might touch on how these foundations are currently under threat and how our apathy has created the perfect environment for the erosion of our society and way of life. BUT that would be if we were in another thread.
     
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  21. Sallyally

    Sallyally Well-Known Member Donor

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    Yep, agree. We take our good fortune for granted.
     
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  22. kazenatsu

    kazenatsu Well-Known Member Past Donor

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    I think the property bubble, in Australia's biggest cities, has been in large part immigration fueled.
    More people, more competition for limited space, especially with affordable housing options being all taken up, drives up prices.

    One question is whether the jobs are going to still be there to support these prices. Because we've seen these type of boom and bust cycles in other places in the world and they aren't pretty.
     
  23. truthvigilante

    truthvigilante Well-Known Member Past Donor

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    It all depends on the distribution of wealth. If the big guys keep sucking it up there certainly will be tough times ahead. If we keep wealth distribution broad, then no problem.
     
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  24. scarlet witch

    scarlet witch Well-Known Member Past Donor

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    Housing market sentiment falls in every state: NAB survey
    Confidence in the Australian housing market has fallen in every state for the June quarter, according to National Australia Bank.

    [​IMG]
    http://www.abc.net.au/news/2017-07-13/housing-market-sentiment-drops-in-all-states-says-nab/8705044
     
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  25. Sallyally

    Sallyally Well-Known Member Donor

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    A friend sold her investment property recently and doubled her money in ten years. That's scarey isn't it?
     

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