Who caused the housing crisis?

DinkumDog said:
If you’ve eaten an oyster you’d know :-).
Click to expand...
Oysters (I don't like) don't taste anything like avocado (which I do like), I don't know what snot tastes like but it can't be the same taste as avocado AND oyster.

Maybe the similarity is not taste but texture? :smirk:


Team First
 
TwinTurbo said:
Oysters (I don't like) don't taste anything like avocado (which I do like), I don't know what snot tastes like but it can't be the same taste as avocado AND oyster.

Maybe the similarity is not taste but texture? :smirk:
Click to expand...
Think you’re examining this a bit too deeply Turbo :-).
 
Blue_boost said:
There are stories in the news about changes to negative gearing tax benefits. Is this a tax grab or an effort to address the housing crisis potentially making more houses available to buy?

but who is really responsible for the housing crisis? Rents have surged because of demand? Demand from renters.

so if renters would not drink and smoke all the time as well as gamble and max out their credit cards, could many Of these renters potentially be home Owners? Reducing the demand on rental Properties? Solving the housing crisis.

it’s that mentality of I’ll have it now and work later to pay it back. I’ll start saving next year or buy a home next year, in the meantime I’ll drink piss and smoke and gamble, buy that new mobile phone, tv or PlayStation and max out the credit card.

So who is responsible for the housing crisis? What’s your fix?
Click to expand...
I’m the cause of the housing crisis. I hoard houses for a living bro
 
DinkumDog said:
Think you’re examining this a bit too deeply Turbo :-).
Click to expand...
1727679513175.jpeg


Team First
 
Take your pick.
The govenrment and negative gearing,
Highest increase in immigration we have seen in decades without planning the infrastructure first.
Blue Boost and his mates with 1000 land bank houses each sitting empty
 
Generational wealth. My Dad (which he didn’t to my dismay - Hindsight) was offered when he was quite young a significant parcel of land in what was then a bum fuck field in outer Penrith (I forget what suburb it is called now) but he saw no value in investing $15,000 which was a huge amount of money to buy a field that couldn’t even have livestock on it so he turned it down. It now has 500 or so houses on the parcel of land and would have made him millions and my point is I would have inherited that money (I’m assuming) and been willing to pay half a million over the asking price for a property I was interested in therefore driving the value of property in that area up.

So to sum up what I’m saying is I’m not the problem but I definitely would have liked to have been.
 
Last edited:
N4TE said:
Generational wealth. My Dad (which he didn’t to my dismay - Hindsight) was offered when he was quite young a significant parcel of land in what was then a bum fuck field in outer Penrith (I forget what suburb it is called now) but he saw no value in investing $15,000 which was a huge amount of money to buy a field that couldn’t even have livestock on it so he turned it down. It now has 500 or so houses on the parcel of land and would have made him millions and my point is I would have inherited that money (I’m assuming) and been willing to pay half a million over the asking price for a property I was interested in therefore driving the value of property in that area up.

So to sum up what I’m saying is I’m not the problem but I definitely would have liked to have been.
Click to expand...

as long as you do t drink and smoke and live on credit then You’re not the problem.
 
N4TE said:
Generational wealth. My Dad (which he didn’t to my dismay - Hindsight) was offered when he was quite young a significant parcel of land in what was then a bum fuck field in outer Penrith (I forget what suburb it is called now) but he saw no value in investing $15,000 which was a huge amount of money to buy a field that couldn’t even have livestock on it so he turned it down. It now has 500 or so houses on the parcel of land and would have made him millions and my point is I would have inherited that money (I’m assuming) and been willing to pay half a million over the asking price for a property I was interested in therefore driving the value of property in that area up.

So to sum up what I’m saying is I’m not the problem but I definitely would have liked to have been.
Click to expand...
Plenty of those stories, I was a member of a club that utilised a piece of land in SW Sydney that was around 6,000 sqm, there were a bit less than 100 members. The owner wanted to sell at a cost of $100 per member, I voted yes but was out voted. Macarthur Square now sits on that site and my $100 would have turned into $1.3m in under 15 years.


Team First
 
chemdog said:
bit off topic but I bought my second apartment last week
Click to expand...

not off topic.. a renter on here had their ears spike up.. they will hit you up trying to convince you they are a decent person. Ask em for their bank statements / credit cards to see where they spend their money
 
Dyldog said:
Government incompetence
Click to expand...
More like corruption at all 3 levels of government. Federal state and local, with the help of VERY greedy developers

WHY.

Our level of population per square KM is the lowest of any other country in the world, yet housing land prices are the dearest in the world.

Go figure that out
 
If we go back to 2011, Chinese investors entered the market, were overpaying for houses in Sydney because they considered it 'cheap' and instantly burnt the market.

So when the Chinese entered the property market, it became sellers market where property owners were able to sell their property at a huge profits, then Corona happened, it sort of cooled the market but once corona finished, it heated up again where this time it was the investors who were getting on this and buying up property when they were still 'affordable'. And it suddenly became an investor's market where they buy a property or 2, refuse to rent it out, no one lives there, becomes an empty property, investors are of selling the property at a profit within 12 months. Even with the high interest rates, it hasn't slowed the property market down.
 
People with more money than you, peoples need for maximum profit, greedy real estate agents caught up in their own world plus the cost of materials and labour to build I'd say sadly...

I was able to secure a decent sized block with a house in a decent part of Western Sydney close to home just a bit before the crazy pricing started to become the norm
 
Blue_boost said:
There are stories in the news about changes to negative gearing tax benefits. Is this a tax grab or an effort to address the housing crisis potentially making more houses available to buy?

but who is really responsible for the housing crisis? Rents have surged because of demand? Demand from renters.

so if renters would not drink and smoke all the time as well as gamble and max out their credit cards, could many Of these renters potentially be home Owners? Reducing the demand on rental Properties? Solving the housing crisis.

it’s that mentality of I’ll have it now and work later to pay it back. I’ll start saving next year or buy a home next year, in the meantime I’ll drink piss and smoke and gamble, buy that new mobile phone, tv or PlayStation and max out the credit card.

So who is responsible for the housing crisis? What’s your fix?
Click to expand...
I'd say the RBA keeping interest rates so low for so long is part of the problem. People started spending money without thinking that rates go up. Then bang, inflation sky rockets, and people can't keep up with the rising cost of living.
 
If Israel dont back off NSW will have to take in more Lebbo's.
Overall da Fed Gubament will have to slash immigration or they will be camping in Moore park
 
Every week, there is some headline, guaranteed, to be about the housing crisis, and what plans they have to solve it.

2 weeks ago - Rosehill Racecourse
Last week - Long Bay Jail
This week - Church Grounds.

ATTENTION STUPID POLITICIANS...

SYDNEY IS FULL. STOP LOOKING FOR NEW LOCATIONS WITHIN SYDNEY TO BUILD NEW HOUSING... TAKE A LESSON FROM THE CHINESE AND START BUILDING NEW CITIES, PERIOD!!!
 
You must log in or register to reply here.
Back
Top