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Its Edwin’s Monday Evening Property Rant!

My latest property chat with our insider Edwin Almeida. We look at under bidding, the shortage of property for sales signs, the latest numbers and strategies to try to support the property bubble, as well as our normal WeChat insights.

https://www.ribbonproperty.com.au/

The latest edition of our finance and property news digest with a distinctively Australian flavour.

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Caveat Emptor! Note: this is NOT financial or property advice!!

Written by Walk The World

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  1. Anything these horrid governments have a tooth into, you can be certain it will not end up well for the person buying the home. No way would I consider getting a loan with them. I would rather live in a damn tent.

  2. I bet you bought Bitcoin Mr. North. The NSW version of ‘help to buy’ scheme is a national disgrace, you can’t get it if you can get the loan independently, so instead of buying a property you can afford, it simply encourages punters to buy more expensive property with public money. What is potentially fatal is if your income rises beyond a fixed level you are obligated to take on further debt. So who does this benefit? Vendors? The million people employed in the construction industry? This is exactly the type of policy that appears when a growth regime is exhausted.

    Feeding people into the debt furnaces is what this amounts to. It’s scandalous that it ever got into the policy platform of a Labor government.

  3. Hmmm increased immigration ,that might help increase demand for housing ;but, wont help those poor bastards who purchased at the top of the market with increases in inflation and interest rates.
    I think we have a recipe for more homelessness.

  4. The Government did this years ago, where they paid for the house and the more you paid off the more of a share you would own, the thing is the people who took out these loans only ever paid the normal payment, that was a big mistake, my sister did this and found out after 15 years she has paid only $5000 dollars off the share, she ended up taking a loan to buy it to get out of that government scheme.

  5. I just love how you people with your own homes and probably a load of investment properties negatively geared so you pay lower taxes criticise the shared equity scheme that will help thousands of families get out of the rental trap. If you're so concerned about the "taxpayer" wearing a potential loss, then start pushing for the biggest property rort – negative gearing – to be axed. I guess you think someone like me, age 56, two kids, single mother, shouldn't own a property. Do you think it is okay that in the past three years I have paid $104,000 in rent to some wealthy doctor in Sydney ? If I stay in my current rental until my youngest finishes year 12 I will have paid that doctor $473,000. That can buy a house and give us financial security in some regional areas. So you can pooh pooh it all you like, but I will be first in line for my 30 per cent. I am also a taxpayer!

  6. BTW, you don't get a reduction on taxes unless I get a reduction to compensate me for the amount you are ripping off the government by negative gearing. Ugh, this segment stinks of greed and entitlement.

  7. How will the shared equity scheme save the construction industry?
    There are already so much backlog that more demand will not be helpful.
    Great government insights.

  8. I have attended auctions last weekend and most of these houses which were passed in are re-listed yesterday as new listings. According to REIV – just one or two passed in for these suburbs but I know for a fact that these lists are missing lots of houses which were passed in during auctions.
    Do not trust anything! 🙁

  9. I have noticed some underhanded tactics from new property developments. They will often advertise property for much higher than its worth and when it sells, do not disclose sale amounts of thus properties. On the very odd occasion, when they find or con some stooge to pay the exorbitant advertised amount, they will then advertise that sold figure, but hide the rest. I believe they are trying to reset the index/value of the subdivision. I can't believe there isn't some sort of consumer law that protects buyers from this deceitful behaviour.. there seems to be more interjection from fair trading for low cost good and services, rather than the real estate market which can have devastating impacts on consumers..

  10. Chinese politician 2015. " China has to control Canada, the USA or Australia if they aren't going to starve". Current ozz govt closer to socialism . Watch the belt and road initiative . Dan wasn't acting alone.

  11. The problem with the expectation that taxpayers should benefit from the government's investment is flawed because it fails to recognize the fact that a significant majority of taxpayers are the Electors. Electors actually are the primary source of government. It's the Executive Branch who are profiting from it at the expense of the Elector branch of government. Don't expect the Judiciary to work on the side of the Electors either because they're just another corporation who seeks to profit because they can afford to throw the Electors' constitution the bin.

  12. Buyers not being put off by rising interest rates could indicate they are not needing to mortgage their purchase…

    Further reinforcing the obvious fact we have a class based society that is leaving the poor working hard and going nowhere to fatten a rent seeking slavelord agenda.

    Strike

  13. The people of Australia should aggressively protest against the government looking after the wealthy & disregarding the less fortunate… take action or they will continue with their corrupt ways ! … stop the government increasing the cost of housing with their incentives !!!!! … stop the wealthy investors accumulating more & more houses which is making it less affordable for the less fortunate.

  14. Bitcoin price is just noise. Most good projects will survive and come out stronger. BTC will out perform the property market and stocks. With all the liquidations that happened, BTC is back on track and working well.

  15. The corrupt politicians will do everything in their power to keep the property prices high even if they totally destroy the economy , and these politician (CROOKS) will DESTROY the economy !!.

  16. Govt is getting desperate day by day. They know leaving property they don't have anything in Australia.

    People need to keep close watch on China Russia closeness and relations.
    China buys more and more resources from Russia.

    Plus

    Chinese iron ore mines are going to start shipping soon from Africa to China.

  17. Just got notice for a 7% rental increase in August in the Parramatta outskirts. So the other option for double leveraged investors is to make the renter pay for the rate increases. It's will then be on the upper end of rental rates for this area and property, so I expect it will remain vacant for a month or more like the neighbouring units did. I'm going to move out – with WFH now entrenched I can move farther afield where rents are the same or cheaper and it will cost me lest in the long run even after factoring in moving costs.

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