Subj : Re: New to this
To   : dflorey
From : boraxman
Date : Fri Apr 25 2025 01:43 pm

On 24 Apr 2025 at 09:45p, dflorey pondered and said...
 
 df>  bo> Does it get easier in the US?  In Australia, it just gets harder and
 df>  bo> harder and
 df>  bo> harder, and prices go up with no respite.
 df>  bo> 
 df>  bo> I'm pretty sure our pollies are deliberately trying to make many of u
 df>  bo> homeless.
 df> 
 df> It does seem that way here in Aus. I believe its the same in NZ too
 df> lately... The issue here is that anyone that HAS property doesn't want
 df> the prices to fall as houses are an investment no matter which way you
 df> look at it. Politicians no doubt all have investments portfolios that
 df> include some number of properties too, so they'll do anything in their
 df> power to make negative gearing work!
 df> 
 df> Wife and I own (via mortgage) the home we live in, but also have a
 df> townhouse as an investment in our super... While I don't like that our
 df> kids are unlikely to be unable to purchase property when the time comes,
 df> for us I'm banking on prices increasing - ultimately hopefully leaving a
 df> small nest egg for them when we're gone. Not sure how far it will go
 df> when divided for 6 kids :D
 df> 
 df> Ahhh life...

There is a significant problem with your approach.  IT doesn't work long term.  See, lots of people are banking on the "nest egg" and hoping prices go up.  Yet housing affordability is plummetting, and fewer and fewer people can afford to buy.  If it worked, the younger generation would be better off, but they aren't.  Secondly, when prices increase, so does the price of the house they want to buy.  Yours doubles.  Great!  Now the price of the house they will buy will double as well.  IF you have multiple houses, like three or more, it could work, but again, its self defeating.  More people invest, prices increase more, problem gets worse.  Economy suffers.  You end up paying for it.  IT all balances out.  And maybe your kids may be better off, but your grandkids will pay.  

There is no free lunch.

As for politicians keeping prices high for their own personal benefit.  They are traitors to their nation, and should be dealt with as such.  How people think this is acceptable, and shouldn't result in severe punishment is beyond me.  But hey, thats why we're all going to end up homeless, because we accept this from them.

--- Mystic BBS v1.12 A48 (Linux/64)
 * Origin: Agency BBS | Dunedin, New Zealand | agency.bbs.nz (21:1/101)

.