And being able to claim it as a tax deduction.
It wasnt 30 year fixed loans which got them into trouble last time……
And the rate at the fed for those 30 year loans only got down as low as 4% afaik.
So i think a lot of people probably may have still opted for upfront better deals.
Has nothing to do with my point.
Which is what exactly?
There is no such thing as a 2% home loan over a term of 30 years.
So keep imagining, they never had them
Americans can fix their interest rates for the full term. It was in response to someone saying they had under 2% fixed for another year.
Typically for a fixed loan yes the idea its fixed for the term.
You just wouldn’t for that length of time because you pay a premium for the privilege (just like they do)
If you really wanted you can fix in Australia for 7-10 years…
Just ask your bank.
The interest rate isnt going to be favourable though.
Americans never got 2% 30 year terms, but they(their banks) probably just like us wrote some 3-5 year year ones. I don’t know their market that well they have some funny fixed for 5 style loan.
Im sure the banking system is strained somewhere right now.
on the animal spirits podcast, they (2 financial advisors) talked about refinancing their loans 2-3% for 30 years, and were doing it / telling all their clients to do it at the time, plus all the podcast listeners.
Maybe there were some banks…who knows.
Here the avg 30 year fixed rate offered since the 70s
are you gonna stop making things up? or keep tripling down?
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Not true.
Not here, but the US look at us and go whaaa?
I told some US friends a while back that pretty much all Australian mortgages were variable interest and the banks could change the interest rate on a whim, and they basically started gibbering in a corner. It is pretty crazy when you think about it.
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Im not a FT subscriber. But you find some 2 percent 30 year mortgages. Feel good if you find one or two. That tiny percent of borrowers in some regional us bank might be laughing.
Either way they havent got em, never had them.
I posted my figures. The average 30 year rate offered. Which you would think covers most Americans. Maybe theres a couple of months were they could have landed a 3
your ability to double down on ■■■■ points is incredible
Hey you are the one googling financial times for a headline.
The rise of the mega apartment complex is a stain on the Australian property market.
Has anyone seen great capital gain investing in one?
IMHO its a sign of corruption. Where once we would see plentiful construction of 3 story walk ups and villas, nowadays most councils and developers seem to walk hand in hand building monstrosities
Even now they persist with the industry somehow finding 10 year insurance for these things.
Mascot towers was 10 years old when things went pear shaped
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Sydney is probably the outlier there. The eastern suburbs, all other inner city suburbs, lower north shore etc have had very little ‘mega’ apartment complex developments in the last 30 years. It means those smaller - medium apartment complexes have gone up materially in that period.
It’s pretty tough to even get a 2bdrm apartment within 10km of the city (i know they do exist, but most are > $1m+ or are on the fringes of that 10km / are old etc). This has meant some of these mega apartment complexes in Sydney have really gone up a lot in value over the last 20 years just given a shortness of supply.
You haven’t visited Lane Cove or Glebe * lately re towers of apartments? Or bondi junction and i think doesnt edgeclift have some on the way in the east?(Or the locals may be fighting it tooth and nail)
Basically any suburb which has some industrial or other to convert.
Seems to me the only low rise which gets thrown up are mum and dads doing Duplexes on wider house blocks.
The trouble free 3 story walk up apartment, even it they were ugly ducklings from the 70s you just dont see them any more. Maybe they are getting built in the burbs somewhere I just havent visited,
Upper north shore the apartment complexes are all large and have been going backwards in value
What sort of price increases have you seen? Id love to know someone who has made a buck out of them
Lane Cove is a lovely place.
Played lawn bowls there in the nineties.
An old fella told me he bought there back in the day for £1600 and his Dad said, you’ll never get that back.
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Yeah its a nice suburb, but you wouldnt recognise it from the 90s. Heck you wouldnt recognise it from 7-8 years ago.
Theres been huge amounts of construction of large apartment complexes.
Perhaps its how all cities have to go, but I think the rise of the mega builder is something new.
Ie perhaps there just werent many people building huge complexes back in the day…now they are lining up and its all corporatised.
If you buy into say a complex of 300 plus new apartments at top dollar, are you getting much land value?
Dude.
You’re wrong about US interest rates.
You’re probably wrong about Australian ones.
They’ve hit hard. Yes.
And there will be more mortgage sales in the next year than you’ve seen for a long time.
Awful for them. Sounds like it’s good for you.
You should get on it.
But most people are saying or two more rate rises, if that.
They’re mostly investor properties anyway and guess what?
They’ve raised the rent.
Immigration will raise the rent more.
Immigration will raise property values.
It’s immigration that will raise unemployment rates, and drive down inflation (and pay rises).
The RBA is full of crap.
Oh…this blunt tool didn’t work the last nine times, let’s do it again!
You do what you want.
But if you the think your time is in eighteen months, I personally think you’re on a wrong ‘un.
Bring your chequebook. You will not be on your own.
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