I had an interesting discussion with a real estate agent last month. We are looking to sell off another rental, the second since the election given we expect a correction in our area in the not too distant future.

Without telling the agent why we were selling we asked him how he saw the market post the Coalition's win. What he told us was quite revealing.

He said in the run up to the election he had 9 owners of investment properties who had pictures and advertisments drawn up with his agency ready to sell if Labour got it. He tried and ultimately gave up trying to tell them the policy had planned to grandfather existing properties.

The next bit was the most concerning. Before the election 5 to 6 out of 12 of those seeking loans on properties he was selling were knocked back. This was due to the tightening of the rules post the banking royal commission. However post the election only one in twelve were being knocked back.

As a real estate agent he recognised the balloon had to go up at some point because the interest only loans which were now being dolled out to people who were over extended right from the start was likely to bring the collapse on sooner rather than later.

He felt it didn't matter which party had won the election although the Labour party policies may well have postponed the inevitable, but the fact that both had agreed to a policy of low deposit loans gave him zero hope that things would get better.

It is hard to see under the Morrison government, even with an economy tanking, that anything will change. The bastards will drive us into the ground with scant regard and their cheer squad will applaud all the way.

Despite all SR's extreme Left blather, it transpires that he is a capitalist landlord.

Leftist Greed Monger being sucked in by the advise of another Greed monger, blaming a Govt that's bringing the Country back on track, for the consequences of Leftist Bureaucracy !
Talk about not quite right in the head !

Dear Steele,

We are looking at selling our home and buying
an apartment in a prime location. Hopefully
we shall get the bridging loan that we're after
to purchase the apartment prior to selling our
home and that we get the price we need for the
sale of our home.

Fingers-crossed that things will all go well.

*...It is hard to see under the Morrison government, even with an economy tanking, that anything will change. The bastards will drive us into the ground with scant regard and their cheer squad will applaud all the way...*

Here is the pinnacle of arrogance personified, in our OLO left wing trumpeter for equality.

You are sick.

Dan

True story.

Only a few days ago I gave a homeless old chick forty bucks when I noticed her scrounging bumpers off the ground in a coles car park in Sydney.
The look of joy was priceless.

Homless because of unaffordable rents and an unaffordable addiction to cigarettes, both of which are a result of uncaring government policy, and the main one due to blood sucking rent gougers like our pure as the driven snow mate, that whines on this thread of his.

More from Dan.