I suppose that's luxury for rocky but it looks like an absolute dogbox. Hardly a tree in sight and a yard the size of a shoebox.
"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." John Stuart Mill
Three people have brought up rising interest rates and you've totally ignored that point. Care to engage with it?
You can model / presume whatever you like re interest rates. They might rise through the course of your loan, they might fall. They would have to change pretty radically though to have a significant impact on the rent/buy decision price point.
For Aussie property bears, "denial", is not just a long river in North Africa.....
His last sentence implies that he will not be renting for 70 years.
If he buys now his lifetime accommodation costs will be the cost of a house plus a bit for rates and maintenance.
If buys later his lifetime accommodation costs will be the cost of a house plus the cost of renting between now and when he buys. Delaying buying doesn't avoid the cost of a house and if, as you seem to believe, interest rates will rise in the future then delay will increase his future costs of buying.
If he buys now his lifetime accommodation costs will be the cost of a house plus a bit for rates and maintenance.
If buys later his lifetime accommodation costs will be the cost of a house plus the cost of renting between now and when he buys. Delaying buying doesn't avoid the cost of a house and if, as you seem to believe, interest rates will rise in the future then delay will increase his future costs of buying.
Ah but you see the big 40% crash is 12 - 6 months away....
I can probably do similar numbers in Brisbane Suburbs if you like. $450k buy renting for $450+/week
Why on earth would I want to live in a culture less hit hole like Rockhampton?
Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?
The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly. Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
Ignore posts by The Whole Truth · View Post · End Ignoring The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
If he buys now his lifetime accommodation costs will be the cost of a house plus a bit for rates and maintenance.
If buys later his lifetime accommodation costs will be the cost of a house plus the cost of renting between now and when he buys. Delaying buying doesn't avoid the cost of a house and if, as you seem to believe, interest rates will rise in the future then delay will increase his future costs of buying.
How many properties will you be buying this year Strindberg?
You're a fucking spruiker.
Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?
The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly. Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
if, as you seem to believe, interest rates will rise in the future then delay will increase his future costs of buying.
Rubbish..
You are assuming he delays too long and rates rise high enough to counter any drop in property price.
If the poster right now is paying less for rent than interest + holding costs of a property, real risk for the poster if that the price to purchase at some point in the future (including all interest) is higher than the price to purchase now.
It is not automatic that him buying in week, a month, a year, or whatever automatically makes him pay more even if rates do rise at some point in the future... you just twist the possibilities to produce a situation where it does.
Yet again you make up stuff as fact when it is a mabey while jumping on any other poster to mock and nit-pick if they do not caveat any flaws in their thinking. Typical stringbean stuff
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