Pauline on Q&A

[Liam_snorkel]

Perpetuating income disparity has little to do with achievement.

 

[wide eyed and legless]

The more one achieves the higher the reward.

 

[Liam_snorkel]

Nobody is disputing that.

Gaining money from increasing house prices isn't an achievement, it's a transfer of wealth.

 

[Ducatiboy stu]

The more one achieves the higher the reward.

Yes, but unlike your ( elitist ) self this does not always work.

I know plenty of people who work hard to achieve and still end up with **** all

I know we all cant be is rich. elitist and self made as WEAL but if we keep on the track of feed the rich and **** the poor then the poor will eventually turn on the rich, and the rich will be fucked

As marry Antoinette would have said " Let them eat caviar and drink Grange "

 

[Dave70]

Lets first define what it means to be poor in a first world country like Australia.

 

[Ducatiboy stu]

Lets first define what it means to be poor in a first world country like Australia.

Not being able to get that 3rd investment property for your 12 month old

 

[Liam_snorkel]

 

[Dave70]

Not being able to get that 3rd investment property for your 12 month old

You channeled my sarcasm to a tee.

 

[goomboogo]

I can't understand why everyone isn't doing something to make sure there future retirement is financed, the government has already warned that the government age pension is not going to be around when most of us retire.

Borrowing large sums of money to fund residential property purchases in order to future-proof one's retirement is a very risky approach. The fact that a tax regime encourages people to do so is irresponsible. It's all rosy until it isn't. Ballooning levels of household debt and the ever-increasing size of the house price to wages ratio is a potential precursor to collapse. We've already seen significant rates of foreclosure in towns where people leveraged themselves to the hilt to take advantage of rental opportunities in mining towns. What if the situation arises in Sydney and Melbourne where the rents required to cover mortgages on investment properties are higher than people can afford on their slow growth wages?

If you believe the rhetoric that the pension will disappear in the not too distant future, or anywhere in the future for that matter, I have a brand new bridge to sell to you.

 

[wide eyed and legless]

Nobody is disputing that.

Gaining money from increasing house prices isn't an achievement, it's a transfer of wealth.

And here I was thinking that transfer of wealth was when the government takes the taxes from the hard earned income of the taxpayer and gives it to someone who won't work.

goomboogo, with Melbourne population to rise to 8 million I doubt that the housing market will be falling significantly any time soon.
The age of government pension being finished is Scott Morrisons words not mine, obviously the government will be giving out food stamps or some such buffer.

 

[Ducatiboy stu]

And here I was thinking that transfer of wealth was when the government takes the taxes from the hard earned income of the taxpayer and gives it to large corporations in the form of subsidies, rebates and tax breaks..

 

[wide eyed and legless]

And here I was thinking that transfer of wealth was when the government takes the taxes from the hard earned income of the taxpayer and gives it to large corporations in the form of subsidies, rebates and tax breaks..

It is that too

 

[Ducatiboy stu]

I doubt that the housing market will be falling significantly any time soon.

But what happens when it does...and it will...

What happens when all of a sudden the renters cant afford to rent because the owners need to cover the payments, so they move to where they can, Without renters your investment property is worth jack shit

 

[wide eyed and legless]

Yep nothing lasts forever, keep your finger on the pulse, 'The first rule is not to lose the second rule is don't forget the first rule'

 

[Ducatiboy stu]

But you cant win forever

 

[Dave70]

But what happens when it does...and it will...

What happens when all of a sudden the renters cant afford to rent because the owners need to cover the payments, so they move to where they can, Without renters your investment property is worth jack shit

Easy. Use the equity to buy another property where the renters are abundant and cashed up.

 

[Ducatiboy stu]

Equity & Debt... like poking a finger into a bum

 

[booargy]

If you have talk about it you don't really have it, some people are full of shit.

 

[Dave70]

If you have talk about it you don't really have it, some people are full of shit.

Equity or fingers?

 

[wide eyed and legless]

I wish I had half as much as stu thinks I have.