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About ummester

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  1. So why is it ok to tax cash holdings and stocks tor? What is the difference? Don't they all just represent a given individuals or corporations financial worth at a point in time? If old person A is worth 2X and old person B is worth 4X, shouldn't old person A get more financial support from society than B?
  2. As for the old - I don't see why it isn't a simple matter of making their housing wealth part of the asset test for benefits. Why does it need to be any more complicated than that? It's a salable asset, include it in the asset test. Just change a tiny little bit here Assessable assets include: the value of any real estate, including holiday homes, you own (this does not include your principal home)to the value of any real estate, including holiday homes, you own Fixed, with a simple select and delete
  3. I now agree with the slow burn over several decades prediction in the second article. All external factors being equal, I don't think Ozzie house prices are really going anywhere for a long time. I think they'll track wage inflation, as a general rule, when wages inflate and go down and up in little spurts around it. Buy a house for 400k now -and don't expect it to be worth any more than 550k in 2025, with 450k being more reasonable.
  4. Well, a miracle in thinking may cause removal of NG and vacant land tax to occur as they increase money in the coffers. The Ozzie public debt (government deficit) is nothing compared to some places though and there are still our banks to consider. I'm sure our banks are dependent on our house prices not decreasing too much to remain functional now, more than 15% in a given year would likely tank them I don't think the RBA or government would want that kind of failure to spread here like it did in the US in 2008.
  5. Good article but is Eslake flogging a dead horse? Remove NG - agree. Tax vacant land in suburban areas - agree. Better Infrastructure for new areas - another big agree. These 3 things will pretty much stop speculation on Ozzie house prices in it's tracks. But, for them to occur, we need a government and populace that wants them to occur, with a government that has money to make some occur. I recon removal of NG and vacant land tax have more chance of happening for this reason, Infrastructure cost the gubberment too much.
  6. So which banks actually lend for this? I thought that was one of the major issues when it was first introduced, is that the banks didn't like the idea of the government owning the land whilst the had to cover the risk for the depreciating component.
  7. I'd sell it, buy a cheaper house in a place I like, retire and write.
  8. Yep, gills and all... Dry land is not a myth!!!! goose, re the monarchs thing. Yea, it's in Adelaide, like everywhere else - but it seems a lot less noticeable here to me than ACT. In ACT, every second person thought their acceptable station was way above their worth - the percentages of those kind of folks seem greatly decreased in Adelaide to me. That said, those kind may be more noticeable in the suburbs closer to the city.
  9. Thanks goose. I find that Brighton/Glenelg area too crowded and commercialized for my tastes. It would have been nice 40 years ago - but not now, IMO. Only plus about it is a quicker journey to work in the city. Re the coast rising - I brought behind a cliff. I've got a good 3m before I go underwater. I imagine looking down into the lowlands one day and seeing all the coastal apartments and coffee shops surrounded by ocean
  10. it reminds me of Guy Pearce character in Priscilla Queen of the Desert keeping an Abba poo in a jar. Anyone know where she brought in SA? 2 mil can buy a pretty fantastic house here.
  11. See in the article Gillard moved to SA - that's in, states gone to hell now
  12. But - if more load up to buy houses ATM and wages don't increase - which they likely won't with other industry on the rocks - then the affordability index can't decrease without major heartache for much of the country. Basically, to stop property crashing, the country is stuck with very low IRs until wages catch up - and that could be 10-15 years. Sure, you can save enough to buy a place in 10-15 years, if you are young enough and gainfully enough employed. You can keep waiting for a solid correction. Or, you can buy in thinking house prices aren't going anywhere in Australia for a very long time. IMO, anyone still investing in Australian property is a tool. It's a dead investment choice. Buying a PPOR can be a massive NE risk, if that kind of thing worries you. I've come to believe it is a much lower repayment risk - because the country and the banks just can't afford defaults. We may see a time in the future where certain mortgage rates are equal to or lower than the RBA cash rate.
  13. Yea but I am saying that 'civil society' is a luxury in itself - it's not a basic human need. As for the price tags and conditions - we've been putting those on things for ages, even before we were 'civilised' or built houses. Look, I'm not arguing that house prices in this country are currently fair, or reasonable - I don't think they are. I just think the 'housing is a basic human need' statement is too idealistic and wouldn't even be possibly to make if everything else wasn't so good.
  14. Interesting thing about that 1st article clown, that my mind is slowly changing on - Housing is a basic human need. Is it? Really? Indigenous Australians moved nomadically for 10s of thousands of years, with little more than roo skins and the occasional makeshift windbreak to shelter them. Water is a basic human need, food, at least every 30 days, is a basic human need and clothing/shelter from adverse elements is a basic human need. Housing seems to me more like a constructed desire of civilised society, like electricity, or an Ipad. I wouldn't say it's a need. It's nice to live in a comfortable environment - but no-one 'needs' to have it. What is the difference between a house and any other consumer item in a our very consumption driven modern world. Everything has a price tag put on it now. Water, Food, Education, Information, Opinion and Houses. Some of them have a price tag that is too high. In Australia, houses definitely have a too high price tag for the most part. That said, cigarettes in Australia are also ridiculously overpriced relative to wages and other counties. I just think, as a culture, we have become very soft and lost touch with what real 'needs' are, to the extend that we now often equate comfort with need.