Back in the day....when we had a stable housing market everyone was complaining about dole bludgers and welfare families having a free house for life, someone started spousing user pays.... So someone though it was a a good idea to sell off a large amount of these assetts to the private sector, and that welfare recipient should pay market rents... Some or many of you voted for that someone....
About this time the unions started dying off, individual employment contracts came out and people started thinking about themselves... Soon wages for many jobs were shite so people started leaving in droves... creating a shortage of skilled workers....
So someone opened the flood gates of immigration and all these foriegn people came in buying up houses not believeing how cheap they were in paradise. And coming from longer developed countries they knew where things were going.....
Soon mom and pop investors realised real estate was a good thing, they make up 40% of landlords in this country, peopel who own one renatl property only....
Anyway the reason we have proeprty investors is because we have such low interest rates because thats what people with homes and mortgages like. So its pointless to put your cash into any financial product no matter how "low" the risk is when bricks and mortar returns 10%p/a easily and the asset itself rises in value at same time.
So remember the reason your paying mega bucks for your mortage its because you looked down upon those getting a handout from the govt. So in cutting off our nose to spite our face, not only are we paying more for our own homes, we're having to pay the benificies even more for their higher living costs!!!!!
Bookmarks