Politics Super Thread - keep it all in here

[Mac]

What would it be worth now?

Not really sure but I guess if someone bought it they'd run a bulldozer through it and put on a couple of town houses. Could be $1.2M?

BTW, on re-reading my comments I can see how it might come over as big noting. It's not meant to be. We bought a place for us to live in and later a place for the ageing in-laws to have some security and move closer. Both of those places were around the $200k mark.

We are in a small town of about 1,000 people. Plenty of sporting clubs, excellent schools and only a 30 min drive to the major towns. Even now you can buy a 3 bedroom, double garage house on 500m2 for $350,000.

 

[Pascoes_barber]

We are in a small town of about 1,000 people. Plenty of sporting clubs, excellent schools and only a 30 min drive to the major towns. Even now you can buy a 3 bedroom, double garage house on 500m2 for $350,000.

And heaps of jobs available?

Not directed at you or anyone here directly, but I am noticing a lot of 'well people just have to make sacrifices' from folks who already own places that cost markedly less than anything available in the current market (both measured by outright price and by ratio of price compared to 'average' wages) whether that's in a city area or one of the new suburban hellscape estates (most with nothing in the way of amenity/services, that can gets kicked down the road to be someone else's problem).

I mean, our place increased about 1/2 a million in supposed 'value' in less than 4 years, surely this isn't seen as sustainable or something that's not worth worrying about for future generations?

 

[InBenjiWeTrust]

Yes that’s true….however;
When I first bought a house 27 years ago, I went 3rds with my brothers, as I couldn’t afford it on a minute apprentice wage ($6.20/hr). Two of us lived there and we had the joint 6 years before we sold and went our seperate ways.
We also bought in a shit area and renovated whilst living in it….room by room, over years
You gotta do what you gotta do to get ahead and change the mindset that you’re a victim of circumstance.
I don’t see a lot of that same commitment or sacrifice in young people today. They seem to expect a leg up off anyone who’ll listen.

correct, you can see it on this forum as well - 1 us attention span
It seems like many want everything now, without any patience and will to work

 

[Mac]

And heaps of jobs available?

Yes, heaps of jobs available if you are OK with a 30 minute commute on good, country roads. I did qualify my comment by referring to tradies but there are also plenty of jobs for unskilled workers. For an extra $100k you could dispense with the commute as well.

I agree with you that it is unsustainable but the only way I can see it changing is on the supply side. I don't think increasing supply by continuing the urban sprawl in the capital cities is the answer either.

If our polity wasn't so toxic a few of the policies that were the undoing of Labor at the last election made some sense. Restricting negative gearing to new properties only would have been a start to help the supply side.

It is certainly worth worrying about for future generations - to see a whole generation locked out of home ownership is terrible. In the meantime, as Stryker noted, people are going to have to be creative about the ways they force themselves into the market.

 

[InBenjiWeTrust]

Yes, heaps of jobs available if you are OK with a 30 minute commute on good, country roads. I did qualify my comment by referring to tradies but there are also plenty of jobs for unskilled workers. For an extra $100k you could dispense with the commute as well.

I agree with you that it is unsustainable but the only way I can see it changing is on the supply side. I don't think increasing supply by continuing the urban sprawl in the capital cities is the answer either.

If our polity wasn't so toxic a few of the policies that were the undoing of Labor at the last election made some sense. Restricting negative gearing to new properties only would have been a start to help the supply side.

It is certainly worth worrying about for future generations - to see a whole generation locked out of home ownership is terrible. In the meantime, as Stryker noted, people are going to have to be creative about the ways they force themselves into the market.

correct, too many people depend on the government/APS jobs and they do not want to move from their comfort zones to e.g. bush, or even another smaller city. Rare are examples of Zara's or Atlassian's, or even simpler jobs like plumbers, painters, brick layers, car mechanics, sparkies ...
By saying that, I agree that governments at all levels were/are not very supportive, and they can be even hostile to small businesses

 

[FinestTigers]

This country will never have a religiously fanatic leader, and neither do we ever want one, the electorates would know how to take care of that.

But since 15 years ago (2007) the then desperate Morrison has been playing the, what i would prefer to call is, the religious card and has failed miserably twice,

Once with Michael Towke (who is not a religious fanatic) in the seat of cook, and since then once with the disgraced leader of the Hillsong Church group, Brian Houston who which we now know was a mentor to Morrison.

This election should not be about voting for your favourite party, but it must be about voting for Australia.

The following comments and link may be beneficial for you to decide about who to vote for.

By Morrison's own Colleague.
LIBERAL SENATOR CONCETTA FIERRAVANTI-WELLS
"Morrison is not interested in rules-based order. It is his way or the highway — an autocrat and a bully who has no moral compass."

"In my public life I have met ruthless people. Morrison tops the list, followed closely by Hawke (Alex Hawke, immigration minister). Morrison is not fit to be prime minister and Hawke certainly is not fit to be a minister."

'Morrison is not fit to be prime minister': a departing Liberal speaks her mind...

'Morrison is not interested in rules-based order. It is his way or the highway — an autocrat and a bully who has no moral compass.'

www.crikey.com.au

 

[Cultured_Bogan]

Speaking of ads how annoying is that "There's a hole in your bucket" ad the liberals are running

It's annoying, but it gets in your head. That's the point.

 

[Cultured_Bogan]

And heaps of jobs available?

Not directed at you or anyone here directly, but I am noticing a lot of 'well people just have to make sacrifices' from folks who already own places that cost markedly less than anything available in the current market (both measured by outright price and by ratio of price compared to 'average' wages) whether that's in a city area or one of the new suburban hellscape estates (most with nothing in the way of amenity/services, that can gets kicked down the road to be someone else's problem).

I mean, our place increased about 1/2 a million in supposed 'value' in less than 4 years, surely this isn't seen as sustainable or something that's not worth worrying about for future generations?

My first home accrued 50% of it's value in less than three years when I sold it. That is a ridiculous rate of return. Obviously was great for me, but the ladder has well and truly been pulled up behind whatever millennials have been able to afford a home.

It's a bit shit that Zoomers onwards are going to have to go shares with family and mates where they're dependent on them doing their bit too to ensure they don't end up in arrears on the mortgage. Job market is a lot more casualised and volatile which means banks are a bit more hesitant on who they'll lend to. Going to get to a point where kids will be waiting for their parents to die to get into the market.

 

[Pascoes_barber]

This country will never have a religiously fanatic leader, and neither do we ever want one, the electorates would know how to take care of that.

Huh? We've had one since August 2018. He even claimed he'd been delivered 'a miracle'.

 

[Jedi_Tiger]

Does Scomo really think a 50k handout will help people buy houses? At this rate it's a pipe dream for me to be able to afford even a 2 bed room house.it doesn't look like prices will drop anytime soon. In fact looks like it'll still be on the rise.

it is 50k each person so 100k that can come out of your super and when you sell the house the 100k has to go back into super.
Seems pretty good way of first home buyers getting into the market

 

[Jedi_Tiger]

It’s not even a handout. He’s letting you rob the retirement age version of yourself so that you’re reliant on a shrinking pension.

what on earth, you have to put it back when you sell the home. If you don't sell the home then it is equity

 

[Jedi_Tiger]

It's annoying, but it gets in your head. That's the point.

there is a hole in your budget
dear Labor dear Labor
annoying but effective

 

[FinestTigers]

Huh? We've had one since August 2018. He even claimed he'd been delivered 'a miracle'.

😀😀Yeah right, i'm sure he would have been inspired by his mentor and the sexual offender Brian Houstan for Morrison to say those divine words,

Mate it's not funny but sometimes you just need to laugh at these lunatics.

 

[Pascoes_barber]

it is 50k each person so 100k that can come out of your super and when you sell the house the 100k has to go back into super.
Seems pretty good way of first home buyers getting into the market

$50K taken out of super for an extended period (say 20-25 years of mortgage) will have a huge impact on people's superannuation balance at retirement, particularly for younger folks that have small super balances to begin with - think about the compounded interest lost over the same period in this scenario.

And re the 'sell the house' part: Then what? You still have to live somewhere.

This will simply inflate the housing market further.

 

[Cultured_Bogan]

there is a hole in your budget
dear Labor dear Labor
annoying but effective

It's absolutely annoying, it's an Öhrwurm. It's meant to get stuck in your head. That's why it works.

 

[Jedi_Tiger]

$50K taken out of super for an extended period (say 20-25 years of mortgage) will have a huge impact on people's superannuation balance at retirement, particularly for younger folks that have small super balances to begin with - think about the compounded interest lost over the same period in this scenario.

And re the 'sell the house' part: Then what? You still have to live somewhere.

This will simply inflate the housing market further.

house prices will go up anyway during that period so you will still have an asset and a seat at the table you can negative gear or whatever in the future
the sell house part, your equity is your first house where the 50k (+00k) came from use that to purchase another
it is your super your money you will not lose on house prices
it is a good move

 

[Jedi_Tiger]

$50K taken out of super for an extended period (say 20-25 years of mortgage) will have a huge impact on people's superannuation balance at retirement, particularly for younger folks that have small super balances to begin with - think about the compounded interest lost over the same period in this scenario.

And re the 'sell the house' part: Then what? You still have to live somewhere.

This will simply inflate the housing market further.

people took out 10k for covid and didn't worry about super balance
taking 50k for a chance at a deposit it is a good move

 

[Cultured_Bogan]

it is 50k each person so 100k that can come out of your super and when you sell the house the 100k has to go back into super.
Seems pretty good way of first home buyers getting into the market

It's not if the market collapses which could happen if interest rates go up continuously and your return on your home is less than the compounded value of the super over your working life.

 

[jadtiger]

house prices will go up anyway during that period so you will still have an asset and a seat at the table you can negative gear or whatever in the future
the sell house part, your equity is your first house where the 50k (+00k) came from use that to purchase another
it is your super your money you will not lose on house prices
it is a good move

It is the typical smoke and mirror trick that i expect the coalition to pull out of their clacker during an election.Looks ok on the face of it but has zero substance.

 

[Pascoes_barber]

people took out 10k for covid and didn't worry about super balance

Yes and that was incredibly irresponsible too.