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.

Dan,

Why would you make assumptions about someone you
don't know - like Steele?

How do you know what he would do if someone was
in trouble? To put someone else down to make
yourself look better does not work for rational
people.

Congratulations for giving that lady money.
But you're not alone in this. I too have done it many
times in the past. Helped someone financially
who needed it. I'm sure that Steele has as well.

So how about showing your self-confessed generosity
of spirit and some civility to people on this forum
as well?

Or is the only contribution that you have to make,
like some others here - is to attack someone you don't
know?

The vixen...

I've lived a life in a world that shows very little mercy.
I show mercy when it's deserved.
Have you been told today?

Dan.

"Why would you make assumptions about someone you
don't know - like Steele?"

Lord love a duck! Dan and everyone else here knows Steele from his Leftist vitriol and nastiness towards posters he doesn't like. Now we know that he is also a hypocrite.

ttbn,
We're dealing with some real Asimo's here !

Dear Dan,

Showing mercy only when its deserved is not
really mercy is it?

Individual,

What is an Asimo?

My dictionary does not have that term.

Individual,

Oops - I posted on the wrong thread.

Never mind. My husband has just explained what an
Asimo is.

It's a humanoid robot who can only walk backwards.
In other words - a conservative.

LOL.

Dear Foxy,

Do you think you would ever consider buying an apartment in the Opal Tower in Sydney? I hear there are some real bargains at the moment.

Dear Mr Opinion,

No. I live in Melbourne and love it.

I grew up in Sydney - but I prefer Melbourne.

Fair enough SR think you are right
In fact have thought to for a few years
Crashes do come seems Capitalism needs them every now and again
This one will be big

Dear Belly,

I think our poor old planet is getting to the point where the last thing it needs is a capitalist system tearing it apart. If we are going to survive as a species I think we will need to adopt socialism. 'Socialism or Perish' will be the catchcry of the next generation.

Dear Mr Opinion,

Whither China?

Over several centuries ago, Napoleon commented
that China was, "a sleeping giant, and when she wakes
she will shake the world."

China is still determinedly socialist and
authoritarian. It will be interesting to see how the
country will stray from the socialist path and
whether economic liberalisation will in turn lead to
political democratisation.

Given China's size and potential, its economic future
will be of world historical significance.

The current regime is pragmatic, lavishly praising
communist ideals but much more interested in
immediate results.

The attitude seems to be :

Ït doesn't matter what colour the cat is, so long as it
catches mice."

Mr Opinion to tell the truth you may be right
But as shown in the recent election voters stand in the way, of the very things they need changed
Until we get educated voters we stay as we are
Capitalism can be with a heart and still work, in fact it is the easiest path
Remember voters chase bright shiny things and balk at shadows

Dear individual,

You write;

“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 ! “

What?

Dear Diver Dan,

“Here is the pinnacle of arrogance personified, in our OLO left wing trumpeter for equality. You are sick.” and “due to blood sucking rent gougers like our pure as the driven snow mate, that whines on this thread of his”

The property we just sold was in an area where the average length of stay in just over a year yet our tenants were there for over 15. That is expressly because we kept our rental under market rates and were able to do so because the property was positively geared. We renovated ourselves with a view to putting it on the rental market again but felt current government policies would see a huge correction rather than a gradual easing.

Our instructions to the agent was that home owners rather than investors were our preference and put a buffer to make that happen easier. It ended up going to a Burmese family and we are pretty happy with the result.

As my partner and I are both self employed and have been for most of our working lives the properties we have are in lieu of superannuation. The tax deductions available to us have been far less than someone with a bog standard superannuation account.

On the whole our properties are positively geared and thus not a burden on the taxes of the nation.

I agree that affordable housing should be a priority and that negatively gearing skewers the market, however I am comfortable with the path we have taken ourselves. So for you to call me sick and a blood sucking rent gouger without asking even the most basic questions about my circumstances labels you as bad as any rightwhinger we have on here.

What?
Steele Redux,
Yeah, I know, this goes totally against what you're expected & suppposed to believe.
I have worked alongside staunch ALP supporting Public Servants & let me tell you that I have never once witnessed so much selfishness & greed in private enterprise. It made me reel with disappointment & frustration to think that there is such mentality among so many who claim to be in favour of socialist values ! I have only one word to describe those people. Sickening !

I feel no remorse.

Your answer is a bit like Bjelke-Petersen standing at his plush office windows looking down on the rabble unionists clashing with his nazi police force in the street below.
(Memories).
He didn't do it did he, as off to Church he went!
Lovely Christian man he was!

If you really had morals and any real sense of social justice, you'd have skipped past the opportunity of scorching the housing market altogether, and put your money elsewhere.

No sympathy.

Dan.

Dear Diver Dan,

Really couldn't give a stuff if you have any remorse, as I said pretty happy with the stance we have taken.

You however think the whole show should just blow up leaving hundreds of thousands of Aussie families in critical negative equity facing financial ruin and the loss of lifelong savings. Disgusting.

In fact you went far further than that didn't you;

“Pandemics: An effective tool against a manipulated property market.” is what you said. How utterly reprehensible and without empathy is that.

I have repeatedly said I supported Labour's negative gearing reforms. Also I have argued against the capital gains deductions applicable to property transactions as well as calling for inequitable depreciation schedules which return cash into the pockets of wealthy investors.

None of this is at any way in contradiction with my actions. Labour's policies would have made the correction softer but under the Coalition the economy is tanking quickly and all we have to look forward to is a substantial housing market collapse because they won't address the policies which are keeping the foot on the accelerator.

But from you we have heard jack, just whinging and mud slinging. Now how about you stump up for once. Whatcha got?

Dear individual,

You write;

“It made me reel with disappointment & frustration to think that there is such mentality among so many who claim to be in favour of socialist values !”

Too right.

One of the more frustrating things for me at the moment is seeing people my age buying new cars and boats and overseas trips using the equity they have on their homes. What they do is rack up a couple of hundred thousand in debt then pay the lot off when they have access to their Superannuation.

Since the home is not part of the asset calculation they can then go straight on to the pension. This was touted by a financial adviser I was talking to at a party recently.

So all the tax that was foregone in allowing people to accumulate a Super package was done to take the pressure off pensions in the future. This makes a mockery of it and this bloke had no idea why I was pulling him up on it. To him it was just prudent financial advice.

Steele Redux,
When I was first approached to sign up for Super I was told that it won't affect my old age pension & the Super will be quote;"a nice bonus" unquote. Of course this sounded very good.
Until they started moving the goal posts. Don't get me wrong I'm highly appreciative of this safety net but I can't help thinking that Super should have never been designed to replace the old age pension. That's a massive mistake. Blue collar workers never earn enough in the first place to be able to live just off their Super. It'd be much wiser to focus on improving the old age pension with a greater contribution from the employee & make Super a non-taxable, self-funded bonus & not employer-funded. The hordes of public servants getting their Super propped up to utterly undeserved & out-of-hand levels by taxpayers are now emptying the coffers.
Pensioners generally aren't savers, they spend & so they should because that's what's keeping local economies on the roll. Encourage pensioners to spend instead of persecuting them with taxes.
I know a public servant who retired at 62 on 72 grand a year & is now working again for a local council for 115 grand/year. Would you call someone like that a decent Citizen taking a job away from someone who really needs it ?

Superannuation, Labor introduced it Liberals fought against it
Using fear lies and loathing, maybe some did not want the wrong people getting so much money
Now with huge funds huge potential the LNP wants to get its hands on it tax it even tell us who we can have it with

"Homless because of unaffordable rents and an unaffordable addiction to cigarettes, both of which are a result of uncaring government policy"

Nicotine patches can be gotten on a script and are covered by PBS.

Dear individual,

Where did you get the idea that Super is employer funded? It isn't, it is employee funded and always has been. Whenever I was doing up my payroll I didn't look at the Super column and think it was my money I was chipping in for my workers. All I was doing was sending it direct to the funds instead of putting it into the paypackets. It was their wage and just like putting some into a Christmas fund it was all just a matter of distribution.

The Hawke Kelty accord was all about foregoing wage increases for payments into superannuation.

indy read and understand steelys post
As a union negotiator let me tell you we traded off against a list of employers wants and even gave away wage rises to put more supper in our pockets
In fact super started as a trade off for wage rises KPI Key Performance Indicators, the bosses wish list in return for pay rises and superannuation
Long list productivity number one always

So, what is the 12% employer contribution ?

From Mr Google

9.5%
Your employer must contribute the standard 9.5% superannuation guarantee (SG) amount to your super. However, if you work for the Queensland Government and make standard member contributions, your employer will contribute up to 12.75% to your super, depending on how much you contribute.Jul 1, 2019

SR.

*...You however think the whole show should just blow up leaving hundreds of thousands of Aussie families in critical negative equity facing financial ruin and the loss of lifelong savings. Disgusting...*

Your a nasty little self righteous git aren't you?

So you on the other hand, are quite comfortable in your superior self righteous role as lord of the manor.

That's why you and those like you, are the problem with the housing market.
Unfortunately, you have plenty of friends thinking exactactly as you do, they are politicians with housing Port-folios of multiple properties. Nothing is about to change.
So bang on safely dick. ( for the moment).

And yes, a pandemic is a brilliantly natural force of not only equalising inequality, something you take great pride in participating in, but forcing new innovations which, as they did during the plague in Europe, spread the good luck more evenly among the masses; and the bad luck equally too. That is called true equality!

Dan

AC

You miss the point totally old mate.

Have you ever tried smoking a nicotine patch? No I haven't either, but if I needed a cigarette, I would smoke a cigarette.

97% of the homless smoke cigarettes.
So do you suggest then, homelessness is as easy to toss as giving up cigarettes?

The problem is a bit deeper than that son.

Nicotine has the same addictive hold as heroin addiction. Heroin addicts are catered for far more humanly than nicotine addicts.
And both commonly end up on the streets.

Dan

Dear Diver Dan,

You write;

“Your a nasty little self righteous git aren't you?”

I'm sorry son but flagging the deaths of millions of people as a solution to what you perceive as the problem is way beyond nasty, way beyond self righteous and way beyond the rather disarming title of git.

However I am interested in the extent of your discontent so to speak. Do you judge anyone with a rental property as 'blood sucking rent gougers'?

'blood sucking rent gougers'?
Steele Redux,
Very, very few aren't ! They exploit Commercial Welfare to the fullest !

I always thought the Accord was simply about cutting wages and inflation together, nothing to do with super.

The pension is more targeted 'welfare' than it once was and is likely to become more so as it becomes a greater burden on taxpayers.

Through increasingly stringent asset and means testing fewer landlords qualify for a pension, regardless of whether they have large mortgages over their assets, the way testing is applied (a persons nett position is not used to establish eligibility).

Being a landlord is a mugs game, and property purchase and ownership (rates and taxes) is a cash-cow for governments that is drying up as smart investors leave the market. Governments will need to build public housing and manage it, with all the cost and mess that entails anything governments do, and it'll be interesting to see where the rabbit is pulled from to achieve it.

Luciferase,
An ex workmate is still chasing work at 74 because he can't afford to pay the rates for his 6 properties ! And, the Govt won't give him an old age pension. I wonder what the problem might be there ?

I sometimes wondered just where SR could get his political advice, & his education in ways of the world.

Now we know. He is tutored by his local real estate agent.

Wonders will never cease.

Hell may be SR is right.

British University chief bans all beef from campus in fight against 'climate change emergency'

The lady concerned was previously head of the London College of Fashion, so she is sure to have great math, & be right on top of the facts & misinformation on climate change.

And some people want more women in management positions. It must be a communist plot to get the totally incompetent in charge of the west.

Hey Diver Dan
"Have you ever tried smoking a nicotine patch?"

Nope not me, but I've heard that's what they used to do in prison since the government outlawed smoking in all government buildings.
- That is until they've stopped giving out the patches for the reasons below:

I'm told inmates previously soaked the tea out of the teabags;
Then soak the nicotine out of the patch
Then dry the tea-bag out, and soak the tea in the nicotine.
Then dry the nicotine infused tea for a second time.

- Not sure what they used for papers -

Then they put foil into a wall plug to short it out to light it or use a toilet paper wick; where you take a long piece of toilet paper (say 20 or 30 sheets), fold in half lengthwise a few times, then with 2 people twist the toilet paper in opposite directions.

- Light one end and it will burn for hours -

"97% of the homeless smoke cigarettes.
So do you suggest then, homelessness is as easy to toss as giving up cigarettes?"

I think homelessness might be easier to toss if one was serious about not being homeless;
That discussion aside, I certainly think giving up smoking would be genereally harder for people on the street because their lives are probably more stressful than those who have homes.

The point I was making however is that these people can get a months patches for $5.50 on PBS, and the patches do seem to cut down the cravings by half = for 20 cents a day. Even if your not on a government payment, at $50 box it's still less than 2 bucks a day (or 2 cigarettes) for a patch.

Good value, whether you do or don't value your health.

But I wasn't criticising your selfless act of helping improve someones spirits and their day, just so you know.
It's your money, and you have every right to spend it however you choose.
I'm certain you made a uplifting difference to that persons day.

AC

I'm pretty amused by your inmate innovation description. I spent a couple of years locked away every weekend, and I can assure you your right on the target.
I was forcibly acquainted with the worst of all alcoholics, drug dependants and just plain mad in my local area. But my greatest sympathy was towards the guards. That's the worst most thankless job.

But cigarettes and alcohol are highly addictive. Some people just simply can't leave them alone. And the fact is, the high price of cigarettes and extreme rents are crippling people's lives.
It's best not to oversimplify it.

Hasbeen above has come the closest to the truth. The wrong people get control of the lives of the everyday person.

When the likes of the old mate that kicked off this thread, whine on about how bad the world is for them, because the poor people a borrowing money to buy a house for themselves and their families, that's the sort of selfish clown we don't need exercising ANY influence over our communities, which comprise a majority sector of the "economically excluded" .

Dan

So, National Service will not solve homelessness ? Get the young ones into barracks & make them look after the old ones ! After 18-24 months they'll have a totally different, more caring & responsible mentality. It will solve homelessness !

The lady concerned was previously head of the London College of Fashion,
Hasbeen,
It is universally accepted that the Fashion industry is the most polluting of all !

Individual,

Blurting is also pollution.

Blurting has negative repercussions.

Blurting stands out in conversation not only
because its detrimental but also because its
usually not part of our normal speech
process.

Foxy,
have you considered to change your name according to your mentality-Venom ?

indy ease up bloke you target Foxy unfairly
She Is A big girl and can defend herself but
Bloke honestly YOU need to understand that people in glass houses thing
Your short, mostly meaningless barbs are not full of wisdom some times

Belly,
Be fair, we can't write anything without her coming back with some barbed remark. It's just getting a little too narky. I only reply in kind.

Ok, Ok in hind sight I lost it in the heat of the moment, I apologise !

Individual,

Please accept my apology as well.

You indy are a good bloke, never doubted it