Just one that i live in. Bought it by myself. Got a mortgage like everybody else. You also have a bit of insight. Do you own multiple properties? I don’t think it’s really relevant to the legitimacy of our opinions is it? I’d hate to discounts somebodies opinions because they’re renting, or because they own multiple properties.
Yep own more than one property. Not really investor though, all for my business as I hate the restrictions of renting and the home we live in.
My point is that most people do not negatively gear and the Labor proposal with the godfatherIng bit will change little for most of us. My cynical nature actually wonders about the proposed $35 billion savings. Check out when Keating cut it in the 1980’s and the forecasted savings did not happen.
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He had to drop it back then because (at least as reported at the time) of soaring rentals due to investors selling their rental properties.
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I don’t really know what happened in the 80s on this (I was much more focused on Masters of the Universe and Battle of the Planets at the time…) but you’re probably right on this.
If you’ve got multiple neg geared properties, you’ve probably got a solid knowledge of tax etc and if all of a sudden you’re losing money on your mortgaged properties, you’ll sell up and invest your cash in some different tax minimisation scheme instead.
The market downturn will happen due to taking new investors out of the equation who most certainly buy and negatively gear. As i stated above, there would be a far more suitable time to do this in the future when the market isn’t going backwards.
I didn’t even consider the commercial space though. I wonder if they’ll leave negative gearing in place there? A lot of small and new businesses prefer to rent either because they can’t afford to buy or they don’t want to be locked into a property. I haven’t thought about what the implications might be either way.
17% mortgage rates might have had a little to do with that, too.
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And yes the devils in the details. Especially with Bill. It doesn’t usually take somebody long to poke holes in his figures. Not that the other crew are much better. The real estate boom has been driving the economy too. That will surely let up.
I doubt commercial property is impacted.
It’s a different ball game anyway, with valuations of propert closely linked to underlying rents. I assume it’s much harder to get finance on a commercial property that is loss making.
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Can’t imagine a better time.
Interest rates haven’t moved in, what, two years?
And they’re low.
Unemployment is low.
Inflation is low.
Growth is…low, but steady.
So your voting Liberal to reward their great economic stewardship. 
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Really? put a measure in place to slow a market that’s going backwards? Anyway, we’re going around in circles haha.
Dips happen.
You don’t get 20%+ increases in housing value every year.
No. They fell ■■■ over backwards into a good economic run. As it usually happens.
It is a good time kind of.
If your in the process of saving at least you know your not going to get priced out of the market as you save. Plenty have people have set saving targets over the past decade to only find out that over the couple of years they have saved their deposit is no longer sufficient.
I know. It was a fair while between the latest spike and the one before that.
I didn’t mention wage growth.
Hey i’d benefit greatly if there was a real downturn. I’m keen to get a bigger place and i’m ready to buy. I’m not one of these poor souls i talk about who could lose all their money.
Again, not losing money, losing gains.
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Semantics
Very important difference in this discussion though, eh?
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