Oz is the land of honey if only you are able to hunt for the thingy... Sinkies need not apply :-)
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How to settle happily in OZ
- Thread starter neddy
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Oz is the land of honey if only you are able to hunt for the thingy... Sinkies need not apply :-)
Depends on what you want to do with the property. I need a house for the family. $2K rent versus $2K mortgage a month. Which would I prefer? As for being stretched, it depends on the family financials as well. Traditional less then 30% of household income don't apply anymore nowadays. If you have the income, most families goes for the 60-70 even 80% of their combined income. That is called being stretched, and its not just the sub-500K properties. People have to realised that house prices increase because families are willing to put more money into the equation. Dual income trap, I try to avoid it as much as possible.
Try and find the two income trap by Elizabeth warren.
http://en.wikipedia.org/wiki/Elizabeth_Warren
[video=youtube;8GHg3GAeQ1Y]http://www.youtube.com/watch?v=8GHg3GAeQ1Y[/video]
You are lucky axe to be making a profit in the last 5 years. Most people I know actually made a lost counting mortgage/interest repayment.
Huh ? Lucky ? Well, in any investment, it is either up or down mah - no brainer ! I don't have Warren B. sharp investment eyes, my benchmark is actually the "Demand and Supply".. if there is limited supply, prices will go up.. if prices increased to an unsustainable manner, then sell :-)
But, aussieland is as big as continental USA with 1/10th the population leh! How can there be no land!?
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As stated more than 80% of the land in uninhabitable + just see how much rainfall is in perth...u think infrastructure is not strained?
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The saying is buy what you can afford,,and now if u dont buy u rent as all needs a place to stay. however with rent increasing, it makes more sense to buy,,and either way the land lord earns,,if rent increase, they earn, if property price increase, they earn too,,for oz now its hard to see either 1 coming down,,,and if 1 comes down, the other goes up so can earn too,,,property is good in australia,,(generally) however in some spots or suburbs,,might as well dont buy as there is no capital appreciation at all.
About people struggling to pay off the house,,u can blame the gahmen for this as look as the income tax these people pay to feed the underclass,,,the gahmen is not looking after the middle class but the underclass and the rich,,,thanks to the Greens. Some of their taxes are more than the mortgage payment,,
Now if you dont buy,,,u rent,,so u telling me that rent wont chew up 50% of your income?? average rent in perth,,in not so good suburbs is about 340 to 350 per week,,,bigger houses are 400 to 500 plus,,so I dont understand the logic of this dual income trap...as both rent and mortgage are killers,, and now many are after the 300k houses in perth,,,one of my ex classmate,,just bought a house for 370K as he could not find a place to rent,,,he say now buy house cheaper and he got the loan,,,,
so this article is not realistic in the sense of seeking shelter,,and talking about property prices,,i think singapore is a better bet,,as house prices are still going up,,buy for 750k and become 1.2 million in 1 year,,,HDB resale is going up like tomorrow,,surely the returns now are much better than in australia,,or in perth,,where house few years ago is 300k,,now only 320 to 340,,,hardly any appreciation,,and mortgage payments,,is 15k per year,,,so house where got go up? with a freaking 6% interest rate,,,,perth housing market damn static,,better go up soon,,only thing is good for landlord as rent has been increasing every 6 months,,,
About people struggling to pay off the house,,u can blame the gahmen for this as look as the income tax these people pay to feed the underclass,,,the gahmen is not looking after the middle class but the underclass and the rich,,,thanks to the Greens. Some of their taxes are more than the mortgage payment,,
Now if you dont buy,,,u rent,,so u telling me that rent wont chew up 50% of your income?? average rent in perth,,in not so good suburbs is about 340 to 350 per week,,,bigger houses are 400 to 500 plus,,so I dont understand the logic of this dual income trap...as both rent and mortgage are killers,, and now many are after the 300k houses in perth,,,one of my ex classmate,,just bought a house for 370K as he could not find a place to rent,,,he say now buy house cheaper and he got the loan,,,,
so this article is not realistic in the sense of seeking shelter,,and talking about property prices,,i think singapore is a better bet,,as house prices are still going up,,buy for 750k and become 1.2 million in 1 year,,,HDB resale is going up like tomorrow,,surely the returns now are much better than in australia,,or in perth,,where house few years ago is 300k,,now only 320 to 340,,,hardly any appreciation,,and mortgage payments,,is 15k per year,,,so house where got go up? with a freaking 6% interest rate,,,,perth housing market damn static,,better go up soon,,only thing is good for landlord as rent has been increasing every 6 months,,,
You are very good. Yes, my current yield, based on my purchase price, is 10%+ less than 11%. No wonder you are such a shrewd investor!!
Obama is now the new President of US. He will have to delicately move to ensure that "fiscal cliff" do not happen.
Fiscal cliff may happen due to the double whammy effects of having tax benefits terminated on 31 Dec 2012 and the US government cutting back spending wef 2013. Interest rates play is almost zero. Whatever could be twisted have been twisted.
Obama is into his final term. He may not bother to fine tune anymore and may choose to go all out to clean up the financial mess.
If the US has to face the fiscal cliff squarely, then China will feel the effect. US, as a country, is the biggest importer of Chinese product. As a block, the EU is slightly ahead of the US.
The Chinese have stretched themselves prime pumping during the GFC. They have much fewer tools on hand and until recently, they are busy fighting against inflation and the widening income.
When the US face the full fiscal cliff, what will become of Australia? The US ranked number 5 in the list of Australia's top 10 export market.
When the Chinese pull back, what will become of Australia? China top the list of Australia's top 10 export market.
Good luck.
Fiscal cliff may happen due to the double whammy effects of having tax benefits terminated on 31 Dec 2012 and the US government cutting back spending wef 2013. Interest rates play is almost zero. Whatever could be twisted have been twisted.
Obama is into his final term. He may not bother to fine tune anymore and may choose to go all out to clean up the financial mess.
If the US has to face the fiscal cliff squarely, then China will feel the effect. US, as a country, is the biggest importer of Chinese product. As a block, the EU is slightly ahead of the US.
The Chinese have stretched themselves prime pumping during the GFC. They have much fewer tools on hand and until recently, they are busy fighting against inflation and the widening income.
When the US face the full fiscal cliff, what will become of Australia? The US ranked number 5 in the list of Australia's top 10 export market.
When the Chinese pull back, what will become of Australia? China top the list of Australia's top 10 export market.
Good luck.
Gross leh... :o
Thankfully, every year, got to pay some tax to the ATO. So not too bad.
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Here is an interest take on India, China and the rest of the world in the 21st century by Chris Patten. I think the final point about no one wants to see china "fail" is very important.
[video=youtube;_JNt6KoS3vI]http://www.youtube.com/watch?v=_JNt6KoS3vI[/video]
[video=youtube;_JNt6KoS3vI]http://www.youtube.com/watch?v=_JNt6KoS3vI[/video]
Thanks mate... agree with you.
Have you ever evaluate your current investment vs other alternative ? If other return/investment is more than 10%, would you dump the current and re-position your portfolio ? I have a frz - self-claimed Investor-Buddha constantly challenging me for a higher return.. he drives me crazy.. hehe.
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Gratz, I really need to get into the fishing culture here. Already moved to an area where there is plenty of wildlife. Perhaps I'll apply for a gun license. 
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Gratz, I really need to get into the fishing culture here. Already moved to an area where there is plenty of wildlife. Perhaps I'll apply for a gun license.
It is easier to get a gun licence these days. Join a gun club and send in a photo of an approved gun locker. In he past, they carry out physical inspection to check that your gun locker is bolted down, etc.
But Perth police has a habit of not keeping applicant updated, because of the 4 weeks cooling off period. If you do not ask about your application status, they may think you are just applying for fun, and you are not serious.
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