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More renters stressed than homeowners
Topic Started: 15 Feb 2012, 06:57 AM (3,166 Views)
peter fraser
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tech_support
15 Feb 2012, 05:38 PM
I cannot speak 4 all but I find rent much less stressful than a mortgage, when I sold up in tassie and moved to Adelaide I was very relived even though the mortgage was only $125k... I felt like a burden was lifted.
I maybe wrong, but I think that you will find that the retired pensioners are the stressed section.

With a limited income, increasing rents, and a diminsihing wealth base as savings disappear they would notice their position declining, at a time when they can no longer get a job, increase their income, and they have a lower intellectual capacity to cope with these issues.

I used to deal with a lot of pensioners in another occupation, and ending up on the aged pension renting a little hovel somewhere, with few cash or saleable assets, is not where you want to be. Cash savings that look like a fortune now, will be gone in 10 or 15 years after your salary stops.

Any expressed market opinion is my own and is not to be taken as financial advice
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NotFooled
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The Bear Whisperer

peter fraser
15 Feb 2012, 05:49 PM
I maybe wrong, but I think that you will find that the retired pensioners are the stressed section.
I've seen exactly this with elderly pensioners too. Also with single mothers and the physically disabled.
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zaph
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I maybe wrong, but I think that you will find that the retired pensioners are the stressed section.


the renter pensioners certainly are.

a couple pension is $520 pw + $112 rent assistance.

pensioner owners will be eating cat food, pensioner renters will be forced to eat dog food.

if i owned outright, i could afford to live on the pension. if i rented as a pensioner i don't know how i could survive.
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Nick1970
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peter fraser
15 Feb 2012, 05:49 PM
tech_support
15 Feb 2012, 05:38 PM
I cannot speak 4 all but I find rent much less stressful than a mortgage, when I sold up in tassie and moved to Adelaide I was very relived even though the mortgage was only $125k... I felt like a burden was lifted.
I maybe wrong, but I think that you will find that the retired pensioners are the stressed section.

With a limited income, increasing rents, and a diminsihing wealth base as savings disappear they would notice their position declining, at a time when they can no longer get a job, increase their income, and they have a lower intellectual capacity to cope with these issues.

I used to deal with a lot of pensioners in another occupation, and ending up on the aged pension renting a little hovel somewhere, with few cash or saleable assets, is not where you want to be. Cash savings that look like a fortune now, will be gone in 10 or 15 years after your salary stops.

I understand where you are coming from Pete..but what's the alternative...borrow a heap to buy a depreciating asset which still has it's fair share of annual expenses or use your assets to fund a lifestyle.

Not outright disagreeing with you but people should not have this dilemma to face at that stage of their life. Over priced housing is a massive issue for all to deal with.
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Frank Castle
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Business As Usual

tech_support
15 Feb 2012, 05:38 PM
when I sold up in tassie and moved to Adelaide I was very relived
Well, Adelaide is better than Tassie I suppose.
Imagine how "relived" you would have been if you moved somewhere better again :lol:
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Frank Castle
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raveswei
15 Feb 2012, 04:51 PM
While renters were more confident in February, home owners with mortgages were less confident than the previous month
At what level was this worked out on ?

Home owners may have been at 80% confident levels and now are down to 75%
while renters may have been at 30% confidence levels and are now at 35%

While renters may be more confident than they were in Feb, home owners confidence levels are clearly in front.
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peter fraser
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Nick1970
15 Feb 2012, 06:20 PM
peter fraser
15 Feb 2012, 05:49 PM
tech_support
15 Feb 2012, 05:38 PM
I cannot speak 4 all but I find rent much less stressful than a mortgage, when I sold up in tassie and moved to Adelaide I was very relived even though the mortgage was only $125k... I felt like a burden was lifted.
I maybe wrong, but I think that you will find that the retired pensioners are the stressed section.

With a limited income, increasing rents, and a diminsihing wealth base as savings disappear they would notice their position declining, at a time when they can no longer get a job, increase their income, and they have a lower intellectual capacity to cope with these issues.

I used to deal with a lot of pensioners in another occupation, and ending up on the aged pension renting a little hovel somewhere, with few cash or saleable assets, is not where you want to be. Cash savings that look like a fortune now, will be gone in 10 or 15 years after your salary stops.

I understand where you are coming from Pete..but what's the alternative...borrow a heap to buy a depreciating asset which still has it's fair share of annual expenses or use your assets to fund a lifestyle.

Not outright disagreeing with you but people should not have this dilemma to face at that stage of their life. Over priced housing is a massive issue for all to deal with.
Well you have to buy young and have the house paid for before you retire.

I do see your point, and every one will be in a different position. If I was nearing retirement and didn't own I would probably look to buy something cheap somewhere in the country or in a market that is suffering, but either way there is risk.

It is a dilema for many people.

Any expressed market opinion is my own and is not to be taken as financial advice
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Trojan
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zaph
15 Feb 2012, 06:16 PM

the renter pensioners certainly are.

a couple pension is $520 pw + $112 rent assistance.

pensioner owners will be eating cat food, pensioner renters will be forced to eat dog food.

if i owned outright, i could afford to live on the pension. if i rented as a pensioner i don't know how i could survive.
This is the one of the main incentives to get a reverse mortgage if you ask me.
If you owned your house outright when you retired and you needed more money to live off than the pension, selling your house would mean you no longer qualify for the pension (asset test) whilst having to pay rent.
But by keeping your house and getting a reverse mortgage, the home will be exempt from the asset test and you still will be eligible for the pension whilst freeing up extra money to spend - and no rent to pay.
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
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raveswei
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Frank Castle
15 Feb 2012, 06:29 PM
At what level was this worked out on ?

Home owners may have been at 80% confident levels and now are down to 75%
while renters may have been at 30% confidence levels and are now at 35%

While renters may be more confident than they were in Feb, home owners confidence levels are clearly in front.
it's irrelevant

what's important is that homeowners' confidence is down (lower house prices), while renters' confidence is up (lower rents)
http://popping-bubble.blogspot.com/

Thinking of an Australian property speculator (PI):
Inaction = missing opportunities.
Missing opportunities = losing.
Too much thinking = inaction.
Thinking = missing opportunities.
Therefore thinking = losing.

disgraceful little man Frank Castle owes a house to Salvation Army

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Frank Castle
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Business As Usual

raveswei
15 Feb 2012, 10:49 PM
it's irrelevant

what's important is that homeowners' confidence is down (lower house prices), while renters' confidence is up (lower rents)
In your pea brain perhaps

The data shows something quite different
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