Australia going down the tubes.

[expat]

Originally Posted By: hpb
Originally Posted By: Mr Nice
Ultimately people will take advantage of any financial loopholes in the rule book.


This. I don't have a problem with negative gearing on investment properties - I exploited it when I was younger, rented a house to my sister, and was able to pay it off in 5 years thanks to all the tax concessions I received. It certainly helped to set me up financially.


I did the same back in the 70,s. Basicly I was playing the market with other peoples money.

The super hot market seems to be almost world wide. It's just about out of control in Vancouver http://www.cbc.ca/beta/news/business/housing-affordability-rbc-1.3469098

 

[CT8]

Originally Posted By: Silk
The same thing is happening here, house prices in Auckland are crazy, and they just keep going up and up. Young people trying to get on the property ladder are being forced out and into renting....and rents are too expensive by the same ratio. Good news for everywhere else is that they are moving to other regions, and pushing up prices. As Shannow says, some people are getting very rich by not contributing.
Rent is too low!

 

[Gasbuggy]

I seriously suggest anyone with a house in AU that has seen large increases in value from this; sell your house now and rent until the bubble pops.