Oz Federal Election 2013 - Discussion and Comments

[drsmithy]

and after 6 years of this poor excuse of a Gov - no money left in the bank!

I wish I lived in a world where Howard's structural deficit and the GFC never happened as well, but sadly it isn't so.

 

[amaroo]

I wish I lived in a world where Howard's structural deficit and the GFC never happened as well, but sadly it isn't so.

Don't worry - the Australian people will do the heavy lifting to clean up the ALP mess......just like we all did after the Hawke/Keating lost years

 

[drsmithy]

Don't worry - the Australian people will do the heavy lifting to clean up the ALP mess......just like we all did after the Hawke/Keating lost years

The Australian people have spent the last fifteen years running up an incredible level of debt swapping houses with each other using other people's money.

They will be so weighed down by debt for the next couple of decades they won't be able to do anything except sacrifice everything to service their mortgages and pay their rent.

 

[amaroo]

The Australian people have spent the last fifteen years running up an incredible level of debt swapping houses with each other using other people's money.

They will be so weighed down by debt for the next couple of decades they won't be able to do anything except sacrifice everything to service their mortgages and pay their rent.

No doubt the public debt in this country is scary!

 

[Pukka]

I wish I lived in a world where Howard's structural deficit and the GFC never happened as well, but sadly it isn't so.

Well be thankful you don't live in cloud cuckoo land like Rudd. I see he's just announced 52M towards a high speed rail link between Sydney & Melbourne.

That will cover what a few consultancy fees for some ALP cronies??

 

[drsmithy]

No doubt the public debt in this country is scary!

Sure, in the same way getting shot is scary, but compared to being carpet bombed it's inconsequential.

 

[Pukka]

The Australian people have spent the last fifteen years running up an incredible level of debt swapping houses with each other using other people's money.

They will be so weighed down by debt for the next couple of decades they won't be able to do anything except sacrifice everything to service their mortgages and pay their rent.

OMG not house prices again lol !!!!

Do you actually own a house or are you just looking to buy and talking the market down.

 

[amaroo]

Well be thankful you don't live in cloud cuckoo land like Rudd. I see he's just announced 52M towards a high speed rail link between Sydney & Melbourne.

That will cover what a few consultancy fees for some ALP cronies??

Probably the same ones that worked for QLD racing - another ALP disaster that will have all it's warts exposed.

 

[Pukka]

Sure, in the same way getting shot is scary, but compared to being carpet bombed it's inconsequential.

Not if its straight between the eyes then they're about the same.

 

[amaroo]

Sure, in the same way getting shot is scary, but compared to being carpet bombed it's inconsequential.

Hmmmm, have you lost a packet on real estate?

 

[drsmithy]

Hmmmm, have you lost a packet on real estate?

Not a cent.

I simply appreciate what a massive drag our astronomical property bubble puts on the rest of the economy.

I can never decide whether it's comedy or tragedy to hear people complain about how the carbon tax has affected their cost of living, while they fork over 40% of their income for shelter.

 

[medhead]

Don't worry - the Australian people will do the heavy lifting to clean up the ALP mess......just like we all did after the Hawke/Keating lost years

You mean pay off the carried over debt from Fraser/Howard. As for lost years. Even Howard has acknowledged the great things that hawke and keating did for the Australian economy. They created the conditions to give us continuous economic growth. Certainly not lost years despite all your efforts to rewrite history.

The lost years of economic reform started in 1996 and ended in 2007.

 

[drron]

You mean pay off the carried over debt from Fraser/Howard. As for lost years. Even Howard has acknowledged the great things that hawke and keating did for the Australian economy. They created the conditions to give us continuous economic growth. Certainly not lost years despite all your efforts to rewrite history.

The lost years of economic reform started in 1996 and ended in 2007.

Rewriting history again I see.nothing changes.
Fraser did not leave a massive debt for Hawke.~$14 billion.Most in the last year when Australia had one of the worst droughts in history.
Then Hawke won and it rained.So Keating takes credit for that.
I think the GST rates as economic reform.It came in after 1996.Keating wanted it but could not get it past Hawke.

As for the picture of Rudd in Afghanistan-he is in a flak jacket,Therese is not.Is she considered expendable?

 

[amaroo]

Not a cent.

Thats great, you got in early and made a packet....good for you

or

You haven't dropped a cent buying a property:?:

 

[amaroo]

You mean pay off the carried over debt from Fraser/Howard. As for lost years. Even Howard has acknowledged the great things that hawke and keating did for the Australian economy. They created the conditions to give us continuous economic growth. Certainly not lost years despite all your efforts to rewrite history.

The lost years of economic reform started in 1996 and ended in 2007.

Good on you for having an opinion - we all have em.

 

[Pukka]

Thats great, you got in early and made a packet....good for you

or

You haven't dropped a cent buying a property:?:

Clearly he pays rent rather than a mortgage.

 

[drsmithy]

Thats great, you got in early and made a packet....good for you

or

You haven't dropped a cent buying a property:?:

I was lucky to get in early enough that I've roughly broken even.

But my individual position is no more relevant than anyone else's. The property bubble has driven cost of living through the roof and represents an unbelievable waste of productive labour and capital, and is an albatross around the neck of the Australian economy.

Our economy is only going to get worse until property prices come down - either in real terms, or relative ones.

 

[drsmithy]

Clearly he pays rent rather than a mortgage.

My personal situation is utterly irrelevant.

However, I certainly recommend people take the economically responsible decision when it comes to shelter - which is nearly always renting for 1/2 to 2/3 the price of buying the same property.

 

[footy99]

My personal situation is utterly irrelevant.

However, I certainly recommend people take the economically responsible decision when it comes to shelter - which is nearly always renting for 1/2 to 2/3 the price of buying the same property.

Yeah I've been advising clients to rent rather than buy since 2006. Gut stung early but most are starting to come around. The only exception is cash buyers, but even then it is borderline. Buying an inner city unit with the bank's money is the worst case scenario where rates + body corp + insurance often rivals the equivalent weekly rental. With little hope of capital gains in the medium term, all the usual costs associated with buying, stamp duty, etc., interest if you need a mortgage, and half a million out of the bank which could have been invested elsewhere, it's finally dawning on people that such a consideration is financial suicide.

Just to include something about politics for relevance: election betting now Coalition 1.08, ALP 11.

 

[amaroo]

I was lucky to get in early enough that I've roughly broken even.

But my individual position is no more relevant than anyone else's. The property bubble has driven cost of living through the roof and represents an unbelievable waste of productive labour and capital, and is an albatross around the neck of the Australian economy.

Our economy is only going to get worse until property prices come down - either in real terms, or relative ones.

Yeah I've been advising clients to rent rather than buy since 2006. Gut stung early but most are starting to come around. The only exception is cash buyers, but even then it is borderline. Buying an inner city unit with the bank's money is the worst case scenario where rates + body corp + insurance often rivals the equivalent weekly rental. With little hope of capital gains in the medium term, all the usual costs associated with buying, stamp duty, etc., interest if you need a mortgage, and half a million out of the bank which could have been invested elsewhere, it's finally dawning on people that such a consideration is financial suicide.

Property has been pretty coughpy in most places around Oz for the past 6 odd years.....may have a few more in the pipeline before it gets better. The previous 20 years were fantastic

People in the market for a long period have done well. It's all about timing, location and making money when you buy - not sell!

Finally, parts of the Sunny Coast are seeing life come back into the market - thats what happens when the Gov invests $2B building a hospital. It's a pity more regional areas can't get a bigger slice of the pie.