Select to expand quoteFormulaNova said..unclethirsty said..
NZ.....nil ?
Took me a minute 
Still thinking...
Select to expand quoteBuster fin said..FormulaNova said..unclethirsty said..
NZ.....nil ?
Took me a minute
Still thinking...
'Australia six, New Zealand nil.'
Select to expand quotedmitri said..
also recently i had a chat with young enthusiastic an IT indian bloke. been in oz for 6 years he bought 3 properties already.
his plan is buying new property every 1-2 years using equity from the previous ones he bought for borrowing and paying interest only.
apparently there are heaps investors like him out there. its a game with minimum risks for them since they can easy walk away from their mortgages if something goes wrong.
some might say no, they can't do it in australia like they did in america.
well, i guess all they have to do is just buy one way ticket.
This scheme started with HK people late 80s, early 90s. Used to know heaps of them - they'd come here, buy one or a few places in Sydney,
get citizenship in case, and eventually cash in and go back home, taking the $$ out of Oz.
Or just rent out whilst living back home, also taking $ out of the country.
I say "used to", because now it's from way more than just HK.
I'll bet you this (smart) indian guy will go back home in very few years, milking Australia for his early retirement.
And why not - nothing illegal there.
The laws put in place by Hawke and Keating contribute little money into the country, but they're bleeding the place dry.
Select to expand quoteMobydisc said..Boxer101 said..
Until restrictions are placed on negative gearing and foreign investment, property prices will continue to nowhere but up! In other words, get ready to take it in the proverbial, young people! Crazy, greedy world we have.
Based on what Alan Kohler and Flysurfer have said, its unlikely negative gearing will ever be repealed. A four billion dollar investment gives a two hundred billion dollar return. Governments benefit from this return in many ways. Banks benefit from this return. Government represents banks. So why would it be repealed?
In Sydney at least it seems like foreign investment in residential property, primarily from China is really driving the market up. They say its a vendor's dream to see two or three black passenger vans with darkly tinted windows turn up to their property auction. Its also a nightmare for any local bidders. Personally I am against restriction on free trade so generally believe its for the best if a market can be as free as possible. Its not like foreigners can take the house they bought in Vaucluse or Chatswood back to Shanghai or wherever.
Yeah, I'm sure free trade in this instance suits you well, all the while us working class young folk suffer the ramifications. Gen X'ers/Boomers need to remember that soon enough, they will be in the care of Y'ers. We all travel full circle, after all.
Select to expand quoteBoxer101 said..
Yeah, I'm sure free trade in this instance suits you well, all the while us working class young folk suffer the ramifications. Gen X'ers/Boomers need to remember that soon enough, they will be in the care of Y'ers. We all travel full circle, after all.
It'll be a difficult thing to remove when so many people are up to their eyeballs in negative gearing.
Good luck removing it, as lots of others won't want to.
I am not a fan of it because of the way it distorts the market, but I can't see a way for anyone to change it.
I try not to get to involved in these conversations bcause i waste to much time on it 
but nothing can go up in value for ever its just common sense and maths and has been shown all over the world yet alot of people like to believe that there living in some sort of magical country where property will go up for ever.
Select to expand quoteSimon100 said..
I try not to get to involved in these conversations bcause i waste to much time on it but nothing can go up in value for ever its just common sense and maths and has been shown all over the world yet alot of people like to believe that there living in some sort of magical country where property will go up for ever.
Extrapolation has a lot to answer for!
Select to expand quotesaltiest1 said..Mark _australia said..
Farken Govt wankers and baby boomers treating property like it is a way to get rich.
Cannot believe there is BIG tax advantages to having an investment property. Why not on investment shares or investing in a company, or investing in silver? All it has done is fk it up for the average Joe.
negative gearing is there for shares as well. its just not as well known. Biggest hassle is that margin calls can really bite hard although the same can apply to property, especially when more than 1 property is financed by the same bank (cros-collateraliised).
Strictly speaking, I believe having more than one property with the same lender is not cross-collateralisation.
Cross-collateralisation would mean that multiple properties are offered as security for one larger loan (buying you better interest rates). The risk is that if one property loses value the others are available for sale buy the mortgagee in order to decrease their risk.
Multiple properties with the same lender but separately secured under different loans doesn't completely remove this situation because the mortgagee can still call in their debt and force you to pay off part to reduce their risk using other money you have sitting with them. In this arrangement you might have 'slightly' better chance of choosing which property is sold to cover the debt, rather than the mortgagee choosing for you.
Sick Lord.
