Keep Renting or Buy Property Now? Ghost Cities and Zombie Blocks 3 months ago   08:46

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Economy Times
Age old dilemma that many are facing. Are we experiencing a property bubble that’s about to burst or has it got more air to go so this could be a good time to buy? What if you’re a landlord, is life any easier? Not in Victoria it seems.

Comments 34 Comments

HeliOs AsclepiUs
In Venezuela 1 ounce of silver will buy 3 months of food 1 ounce of gold will buy a house!!
HeliOs AsclepiUs
You know gender neutral
Matthew Gray
I’m a single mid 30s guy with a mortgage. I paid a medium amount for my property 6 years ago and I now rent it out. I had friends pay twice as much for a first home. Over the same years my work had been on and off (mining industry), however I have managed to do a significant amount of over seas travel in that time. My LVR has always been under 80%. When I bought my house, I had a business collapse leaving me in about $80k worth of loans and credit cards, with payments at the time being 2.5 times my interest only mortgage payment!!! Talk about struggle. With the amount of personal debt, the cost of living, fuel, insurances and ELECTRICITY it’s no wonder why people are struggling...it’s not necessarily that housing is too expensive - you will always find a way to pay your mortgage/ rent and out food in your belly, and if you need more money, WORK MORE! Get another job. Get another job! There is no excuse for being unemployed in Australia. Live within your means people. I now have $1000 left of ‘bad’ debt. I save 80% of what I earn and plan to spend 4-6 months travelling each year. What people lack is financial intelligence. If you can’t pay cash for a new pair of clothes or a dinner date, stay your ass at home until you can.
Gary Powell
Heat hot water and locks that work. Strange that have to put that into law renting a habitable should be a given , no wonder everyone wanted to own
Viral Clown
Mum and dad “investors” (they aren’t investors they are speculative gamblers hoping on capital growth) who bought negatively geared property will be the ones to hurt.
Lord Humongus
I'd like to give that Reporter a good shagging.
Mike Martin
Keep trading with China. Australia is going to go down the tubes when China sinks!
majstealth
wow, they think loosing one income isnt bad enough, so they also kill the second income? so 99% really don´t know how money works.....
Anglo Saxon
The initial landlord requirements will be minimal. But once the concept is introduced there will be a yearly slow creep of added conditions that govt. won't be able to resist doing (for votes). At some point landlords will just sell up.
BasilBrush BooshieBoosh
I rent in Sydney. My roof leaks. The windows down one side of the house seep water under the sill and down the inside wall [meaning no furniture can be placed there]. There is constant mold throughout the bathroom because the extraction fan died two years ago.
The landlord will not fix these problems!!!
The Tenancy Authority have no power to help me!!!
The "investor" should bloody well take responsibility!!!!!!!!!!!!
Brett Mitchell
The answer to mass third world migration is mass deportations.

Remove 2m Asians and property is cheap and public services far less pressured.
über alles rennen
renting is almost as much as buying. australian people are just money cattle. be good goyim
John Hoy
Please fix your audio. Every. Single. Video. Is like someone shouting into a bucket.
Yvonne Bales
Join us in the street because we were totally gutted ourselves ...not been able to pay the exorbitant rents
Joey jojo
the great australian dream
COZ U HAVE TO BE ASLEEP 2 BELEIVE IN IT
bubba luv
I think the one thing that will soften the blow is the real estate investor activity, these people were buying and selling to each other for about 5 years with everyone else stuck on the sidelines scratching their heads. many held off or were locked out which means the direct effect will be mitigated somewhat, i do hope these flash harry developers like gurner and his greased back hair will get a kick up the nuts, he's just demolished a lovely deco commercial building near me to put one of his high end wanks there so fuck him
Josh Marks
I'd prefer paying a mortgage than renting any day. Renting is terrible, no security, no asset accumulation. And when you retire you still have rent to pay. A recipe for poverty. Need to have a house payed off in full by the age of 55 maximum, than 10 years of work, and absolutely smash super / investments in assets that pay dividends. Then you can actually enjoy a retirement.
Ricardo Mastroieni
The reality is alot of people were given mortgages that really couldn't afford the debt.
istiklalcaddesi
Yes all landlords are pain (thats a cheap shot like landlords say all tenants from hell)
Hrenml
Draconian measures from the government. "Having locks that work". "An operational water heater". Oh my God.
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Ghost Cities and Zombie Blocks Keep Renting or Buy Property Now? 3 months ago   09:44

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Ghost cities from China 2.0?
Sydney's falling apartment prices look set to continue into the next decade, with leading economists and real estate analysts predicting ongoing construction and the rise of so-called zombie blocks will pull prices lower.