Its called the Transmutation. Cheap RE is a historical footnote.
Thats why most people in the future will be renting.
Owning RE is no longer meant for joe six pack.
Its meant for the Business and Wealthy classes.
I think you are right, however another issue 'They' don't understand is that 'They' themselves are creating something they will not like. Over the last year or so I have been visiting 'affordable' suburbs and found something interesting going on, and that is. Every other house coming up for sale is sold to a speculator, a tenant moves in and then this is where things go astray, eg, the garden never gets done, cars build up on account of maybe 3 yobbo's living together and as there is now lots of drug addicts and ferrals, they also get moved in with help of rent assistance which the landlord likes at first. Given a bit of time, and Ive seen it, whole streets become ghettoised, very much lowering the real value of these suburbs. Thank the gods I did not buy one of these places. If you are Ok with living in the outburbs, the trick would be to buy new and when the place becomes semi established, say 5 -10 years, then move on to another new moon burb, out run the investor/ferral invasion. But I suspect a big crash will come sometime before this and 'They' will be living in a different paradigm, perhaps, even hopefully many of 'They' will have to go and rent in one of these self made ghetto's. It would be a fitting and natural justice
I think you are right, however another issue 'They' don't understand is that 'They' themselves are creating something they will not like. Over the last year or so I have been visiting 'affordable' suburbs and found something interesting going on, and that is. Every other house coming up for sale is sold to a speculator, a tenant moves in and then this is where things go astray, eg, the garden never gets done, cars build up on account of maybe 3 yobbo's living together and as there is now lots of drug addicts and ferrals, they also get moved in with help of rent assistance which the landlord likes at first. Given a bit of time, and Ive seen it, whole streets become ghettoised, very much lowering the real value of these suburbs. Thank the gods I did not buy one of these places. If you are Ok with living in the outburbs, the trick would be to buy new and when the place becomes semi established, say 5 -10 years, then move on to another new moon burb, out run the investor/ferral invasion. But I suspect a big crash will come sometime before this and 'They' will be living in a different paradigm, perhaps, even hopefully many of 'They' will have to go and rent in one of these self made ghetto's. It would be a fitting and natural justice
Please understand, what I stated is not what I want to happen.
As for a crash, good luck.
Their plan is to lock joe six pack out of the market so he is forced to rent.
Thats when rents get very expensive.
It is a totally rigged market.
Morality plays no part unfortunately.
And renters will be ruthlessly exploited down the track.
If by Transmutation you mean a return to pre-industrial age serfdom, maybe so. But in such a scenario property prices will stabilize and we will mostly see the end of property speculation.
Please understand, what I stated is not what I want to happen.
As for a crash, good luck.
Their plan is to lock joe six pack out of the market so he is forced to rent.
Thats when rents get very expensive.
It is a totally rigged market.
Morality plays no part unfortunately.
And renters will be ruthlessly exploited down the track.
Yes and I agree with you. I was pointing out the 'on the ground' outcomes of todays rigged market. I just wonder what it will all look like when half the population has to rent, the most livable city (?) will look like detroit does today, especially if recession takes over at some point and people cant/wont pay their rents. Anti social behaviour is already rife in many of the 'investor' suburbs.
Yes and I agree with you. I was pointing out the 'on the ground' outcomes of todays rigged market. I just wonder what it will all look like when half the population has to rent, the most livable city (?) will look like detroit does today, especially if recession takes over at some point and people cant/wont pay their rents. Anti social behaviour is already rife in many of the 'investor' suburbs.
Actually Anti social behaviour is already rife in most suburbs.
Also, once the market has totally transmuted, you'll find the underclass wont be able to enter the wealthy suburbs which will be gated and have private security. Like in many countries.
Actually Anti social behaviour is already rife in most suburbs.
Also, once the market has totally transmuted, you'll find the underclass wont be able to enter the wealthy suburbs which will be gated and have private security. Like in many countries.
There's already hints of that happening here.
More than hints B.P.
Kevin Rudd as Prime Minister and leader of the socialist workers party had his little bolt hole at Castaways Beach Noosa.
Another Labor leader had one at "Cambelltowns most presumptuous adress " - Glen Alpine.
It was designed to be gated (long ago) but never got the final approval so just swarmed with guards instead.
It was meant to be Australia's first gated community, but shoving it in Cambelltown NSW was just too much of a juxtaposition!
This was the time of "free nelson" and end apartheid campaigns after all.
As wikipedia explains it away: "Glen Alpine began as a golf course estate with houses constructed mainly inside the looping design of the 18 hole course. From the late 1990s, development expanded outside this ring towards the local shopping centre Macarthur Square."
We've had them for a long time, but they are invisible through our self censoring "classless society" myth.
I have just read a Fairfax article where they had another 'buy now or die' type puff pieces and saw it mentioned a Melbourbe suburb, Donvale. A 'young' couple spent $709k odd on a below average dump in 'fear' of 'missing out' or so the article would have you believe.
The thing that gets me is where they're brought, Donvale has a median of around $800k. For those who don't know Donvale is 40km from the Melbourne CBD, in real terms it is fucken nowhere, so what's the deal?
And Melbourne is surrounded by these very distant but very expensive suburbs, Doncaster, templestowe, Berwick and Rowville to name a few. They all require approx 9-10 times the average annual salary to buy into and yet they offer nothing but ghetto style living.
It seems to massively contradict the bulls 'desirable city' location rational for pockets of overheating and probably scares the shit out if most bears as to how fucked up things have got and how far it will fall once if implodes.
The obvious speculative bubble aside, what's the deal with these very very expensive nowhere suburbs?
Its quicker to get to the city from rowville than donvale and half the price! rowville and berwick dont come close in price to donvale, doncaster etc and rowville are getting a train line to by 2086 aswell. lol if you cant afford in Berwick now, you still couldn't afford 20kms from the city after a 40% crash LOL!!!! my wife when she used to work in the city drove to huntingdale train station from rowville (10 - 15 mins) then caught a train (zone 1) into flagstaff, took less than 1 hour total.
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