I understand that you're not having a go at me and it's all cool. I just see some of the harsh generalisations you make and feel that there needs to be a bit of a reality check on them when I feel that they're unfair.
COVID-19: who’s going full doomsday prep on this?
- Thread starter johnny
- Start date
gillyske
Likes Dirt
I really love that this has turned into class warfare so quickly. 3 months and capitalism has turned to socialism to bail it out.
Shame that the airline industry collapsed and people will travel less in the future, i hoped this would be a yearly occurrence until the rich were hanging from the trees. Ah well.
Shame that the airline industry collapsed and people will travel less in the future, i hoped this would be a yearly occurrence until the rich were hanging from the trees. Ah well.
pink poodle
気が狂っている男
We cut all the trees down.
Litenbror
Eats Squid
California and especially San Fran etc have gone nuts since the tech boom. The homeless situation in the states is disgusting, so much wealth and waste while so many never even get a chance. Also a lot of those homeless are veterans which is even more disgusting.
Those flipping shows demonstrate what a system that is not designed for investors but owner occupiers looks like. The bank will give you a loan to buy your house relatively easily and it's not that expensive so practically everyone owns. Students and people really struggling rent and the people who invest are usually flipping.
I'm pretty sure you can also negative gear your primary residence in most states which helps owner occupiers. Not allowed to for investments though.
Litenbror
Eats Squid
But we can use the dry sticks to cook and eat the rich.
gillyske
Likes Dirt
True, maybe they can channel some of the great depression era thinking and jump off of the roofs of their 3 story investment town houses.
DMan
shawly the least hangeriest guy on rotorburn
Too fatty though.
rextheute
Likes Bikes and Dirt
I ready to commit to another mortgage just prior to Feb .
My employer pulled out of the Country in Feb
I am glad i didn't go through with loan - Bank was still pressuring right up till March 10 ....they seem to have tapered off
All i wanted was a shack in Tassie - pure self interest
My employer pulled out of the Country in Feb
I am glad i didn't go through with loan - Bank was still pressuring right up till March 10 ....they seem to have tapered off
All i wanted was a shack in Tassie - pure self interest
Litenbror
Eats Squid
Think Wagyu beef
You know what I'm going to do? When the bottom falls out of the housing market, I'm going to take the equity I have in my properties and purchase as many family homes at bargain basement rates and then rent them back to the people that lost them, at a premium, so they can pay off my loan. Might see if I can negative gear them to.
You can thank me later.
Scotty T
Walks the walk
At least he cleans the drops up, when he pisses on the toilet seat
Gotta get me some nukes first.
Should be a trifling matter for landed gentry such as yourself.
Yep and all the capitalist won’t share the profits on the way up but on the way down they expect to socialise their loses.. Share holders haven’t been bailed out and neither should property investors. If you are a conservative investor like Johnny then you won’t need a bail out. Investing isn’t without risk and landlords are just going to have to cop it.. And those that have a highly leveraged daisy chain of hoarded houses can just suck big ones really. That’s what greed gets you..
Anyone thinking of buying property right now should really think hard and look around at what is happening. Biggest economic hit ever. Housing hasn’t gone unscathed through any recession in oz, let alone a depression.
hifiandmtb
Sphincter beanie
^^^ This.
DMan
shawly the least hangeriest guy on rotorburn
More like fatty pork sausages.
I agree to a point, and that point is my lack of knowledge around economics.
Socialising losses and privatising gains is obviously not a great dynamic, but it's one that we see the farming community enjoy whenever we have a drought or similar calamity (that's a huge simplification, but I think you get the point). That's not because we all love a farmer but because if large swathes of the farming capacity in Australia goes through shock and/or collapses, food security for the nation becomes a thing. So we'd essentially cut our noses off to spite our face if we didn't suck it up and help them out when they need it, or so the theory goes.
Would this be the same with the property market? I am a very conservative investor because I don't invest for a living but for my retirement/future/family. What about those cats who do invest as their livelihood, and there are a lot of them. What about the self-funded retirees and the folks that manage their own super with investments like these. Would the shock to the nation be greater and harder to manage than the shit sandwich of bailing out those who took risks and failed?
Genuine question as I don't know the answer. The skeptic in me assumes that it's more to do with voting behaviour but I really don't know.
MarioM
Likes Dirt
Was out for a surf last night and someone paddles out coughing their guts up . People around him scarpered and gave him some looks . I sorta know him so yelled out have you got corona ? His reply was nah mate I just punched cones before i came out . He stopped coughing after that as he figured people were going to give him a hard time .
rowdyflat
chez le médecin
You are right havent rented in 30 yrs but its been 40 years of work and I live somewhere thats cheap .
At 65 yo you either have shares , property or industry super or you haunt Centrelink.
Also frugal and built my own house and used previous house to finance investments.
i dont negatively gear and dont agree with any of the LNP policies and always voted ALP or Greens so there.
I am fond of saying the housing boom is a huge injustice to the younger generations and that state govts have made it worse but you have to realise its a corrupt city boomer thing which then spreads like a cancer to coastal and some inland towns when they cash in its has now hit Yackandandah and Beechworth .
So if you think everyone who doesnt rent is an arsehole go ahead . You picked the wrong person.
If you choose to live in a city or coastal expensive town and cant save a deposit dont blame me.