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Post by caskur on May 15, 2022 15:37:18 GMT 10
Interesting policy from the Libs today re: buying a home. Able to dip into super to the tune of $50,000 (or 40%) whichever is up to $50,000. Not a bad idea. To get off renting and save all that money into building your own asset rather than paying for someone else's asset is going to save a hell of a lot of money in the long run. There will be the argument about robbing the "nest egg" ... but building an actual nest in the form of a home and reducing the waste of rent - lowering the amount of interest payments that would need to paid without that $50,000 injection into a deposit is going to be quite attractive I reckon. It should have always been like that IMHO.
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Post by Stellar on May 15, 2022 16:50:38 GMT 10
Interesting policy from the Libs today re: buying a home. Able to dip into super to the tune of $50,000 (or 40%) whichever is up to $50,000. Not a bad idea. To get off renting and save all that money into building your own asset rather than paying for someone else's asset is going to save a hell of a lot of money in the long run. There will be the argument about robbing the "nest egg" ... but building an actual nest in the form of a home and reducing the waste of rent - lowering the amount of interest payments that would need to paid without that $50,000 injection into a deposit is going to be quite attractive I reckon. I don't think this will have any effect on helping prospective home owners. There will only be a limited number of applicants who will benefit from it. On the one hand, that won't cause house price to rise but overall it's too little, too late.
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Post by caskur on May 15, 2022 19:28:20 GMT 10
I personally paid $10 a week more and paid every fortnight on the mortgage... it only takes 10-12 years... but I started in the mid-late 80s...doing that takes a 25 year loan down to 12-15 years...
you probably can't do that now...lol
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Post by Gort on May 15, 2022 22:46:28 GMT 10
Interesting policy from the Libs today re: buying a home. Able to dip into super to the tune of $50,000 (or 40%) whichever is up to $50,000. Not a bad idea. To get off renting and save all that money into building your own asset rather than paying for someone else's asset is going to save a hell of a lot of money in the long run. There will be the argument about robbing the "nest egg" ... but building an actual nest in the form of a home and reducing the waste of rent - lowering the amount of interest payments that would need to paid without that $50,000 injection into a deposit is going to be quite attractive I reckon. I don't think this will have any effect on helping prospective home owners. There will only be a limited number of applicants who will benefit from it. On the one hand, that won't cause house price to rise but overall it's too little, too late. It is moving your own money from one asset class into another and ending the loss of money that you never get back by renting. Getting out of renting is the big thing. Instead of having to save up over 5 years for example to get a deposit together, wasting 5 years of lost rent money, you get to start building your biggest asset - a home. Having a home in retirement beats the crap out of renting in retirement. BTW ... I'm not saying this policy is going to save the ScoMo government. I reckon ScoMo is GAWN. I do think this first home buyers policy is better than Albo's first home buyers policy though. The Libs reckon this: The Coalition estimates a couple purchasing a medium value home of $750,000 and who have saved a 5 per cent deposit ($37,500) would have a mortgage of $712,500 and a monthly repayment of $3,180 (this factors in a 3.45 per cent interest rate based on the average discounted mortgage rate according to RBA data)
The same couple who used the maximum permitted amount under the scheme ($100,000) would have a deposit of $137,500 (or 18 per cent) and have a mortgage of $612,500 with a monthly repayment of $2733
The Coalition estimates the couple would save around $446 a month (about $5350 a year) if they used the scheme and it will cut three years off the time it takes to save a deposit.Seems like a good idea to me.
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Post by Gort on May 15, 2022 22:47:57 GMT 10
I personally paid $10 a week more and paid every fortnight on the mortgage... it only takes 10-12 years... but I started in the mid-late 80s...doing that takes a 25 year loan down to 12-15 years... you probably can't do that now...lol Did the same, also threw any extra money at the mortgage whenever I could and it was a terrific feeling to be debt free so much earlier.
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Post by caskur on May 16, 2022 6:18:08 GMT 10
I personally paid $10 a week more and paid every fortnight on the mortgage... it only takes 10-12 years... but I started in the mid-late 80s...doing that takes a 25 year loan down to 12-15 years... you probably can't do that now...lol Did the same, also threw any extra money at the mortgage whenever I could and it was a terrific feeling to be debt free so much earlier. I have done it twice...our last mortgage was paid off over a decade ago... the 1st one I saved over $160,000 by paying it off in 10 years...when my house burned down I only owed $22,000 and because I had compulsory mortage insurance, it paid the $22,000 off... but that would have taken 2 yrs pay off... I chose an interest quarterly reducible contract... I lost valuable things in the fire but land wise I got rich. I just had people attack me on fb because I wasn't sympathetic to woman my age-ish struggling to pay rent on her government assistance and wanting state housing... but you know what... most of the time these people waste their youth, smoking, drinking and gambling...I did it tough...I once heard an Italian person say, play now and pay later OR PAY NOW AND PLAY LATER...I got the message immediately. Only thing wrong and Stellar is in the same boat...lol Covid ruined/delayed our plans to play later. I do hope to spend some money exploring our great country eventually. That is the plan in any case. I knew where I wanted to be when my husband retired and here I am... mortgage free.
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Post by Stellar on May 16, 2022 9:25:10 GMT 10
I don't think this will have any effect on helping prospective home owners. There will only be a limited number of applicants who will benefit from it. On the one hand, that won't cause house price to rise but overall it's too little, too late. It is moving your own money from one asset class into another and ending the loss of money that you never get back by renting. Getting out of renting is the big thing. Instead of having to save up over 5 years for example to get a deposit together, wasting 5 years of lost rent money, you get to start building your biggest asset - a home. Having a home in retirement beats the crap out of renting in retirement. BTW ... I'm not saying this policy is going to save the ScoMo government. I reckon ScoMo is GAWN. I do think this first home buyers policy is better than Albo's first home buyers policy though. The Libs reckon this: The Coalition estimates a couple purchasing a medium value home of $750,000 and who have saved a 5 per cent deposit ($37,500) would have a mortgage of $712,500 and a monthly repayment of $3,180 (this factors in a 3.45 per cent interest rate based on the average discounted mortgage rate according to RBA data)
The same couple who used the maximum permitted amount under the scheme ($100,000) would have a deposit of $137,500 (or 18 per cent) and have a mortgage of $612,500 with a monthly repayment of $2733
The Coalition estimates the couple would save around $446 a month (about $5350 a year) if they used the scheme and it will cut three years off the time it takes to save a deposit.Seems like a good idea to me. Except for one thing Gort - you're not taking into consideration the medium house price in Sydney is 1.6 million!!! And that wouldn't get you anything even half way decent. Sydney is overcrowded, full up. Just an ordinary 60s vintage 2 bedroom unit costs around 1 million. But over here on the northside you would have to pay about 1.5 million for a basic unit and upwards of 2.5 million for just a basic house! So this "estimation" of a "medium value home" of $750,000 is wildly inaccurate! People are being shunted further and further away to the west, south west and north west to access cheaper housing. They are having to travel incredible distances to get to the city and suburbs down this way where they work. Sure, the govt has built lots of motorways to move people faster. But this is incredibly expensive. Those tolls - where you are shunted from one toll road to another - can cost workers up to $100 a week! What average worker can afford that? The alternative is spending 2 hours or more each way on public transport. My son knows of police travelling from the Newcastle region to Sydney to work each day! This happens because police work under contract and if their contract is for a Sydney LAC and they can't get a transfer, they just have to cop it. It's unbelievable what ordinary workers have to put up with. Damn politicians haven't got a clue.
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Post by Gort on May 16, 2022 12:37:38 GMT 10
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Post by bender on May 16, 2022 13:46:35 GMT 10
I don't think that comparison is fair. It doesn't appear to factor in the $1,135 a month less that a person would be paying under Labor's policy. If the Mortgagee plonked that $13,500 a year into their homeloan it would change the equation markedly.
Similarly, I think it beggars belief that we'll go ten more years without the housing bubble bursting.
I think you need to face facts here Gort. This was nothing more then a thought bubble. It's an idea that has been dismissed as lunacy by people like John Howard, Peter Costello, Susan Ley, Mathias Corman etc etc as doing nothing more then fuelling an unsustainable rise in house prices whilst simultaneously draining Superannuation Accounts.
It was just Scotty from Marketing showing his desperation. He'll say anything to try and get support right now.
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Post by Gort on May 16, 2022 13:53:05 GMT 10
Take that up with Canstar.com.au In my opinion, Jim Chalmers has not put in the hard yards like Keating did before he got into power. It is all going to end in tears for Labor down the track. Last time Labor had a treasurer named Jim it ended badly too.
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Post by bender on May 16, 2022 14:52:28 GMT 10
Take that up with Canstar?
That's just pure cowardice on your part Gort.
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Post by Gort on May 17, 2022 10:28:48 GMT 10
Apparently ... AEC covid protocols....they are encouraging people to bring their own pencil or pen – Pencils will be available at the Polling Place for anyone who does not bring their own. These will be sanitised after each use.Good tip. To avoid delays, take your own pen/pencil.
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Post by freddies ghost on May 17, 2022 12:06:19 GMT 10
Welp,I did it. Early voting, and for the first time in my life I preferenced the ALP below the LNP, who were below the Independants, giving all my top preferences to the Libertarian Parties, all of whom were above the Greens, which went dead last.
Boy, oh Boy do I feel liberated.
You can too. It's Time Change Australia for the better VOTE THE MAJORS LAST #votethemallout2022 #putthemajorslast
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Post by freddies ghost on May 17, 2022 13:00:11 GMT 10
another thing to ponder. The former Vic Police offer, whose interview blowing the whistle on Dan's fascistic COVID response went viral, is running in the Senate under the Lib/Dems ticket.
I wonder how much of vicpols rank and file are going to be voting Lib/Dems as a result of this?
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Post by Gort on May 18, 2022 12:04:49 GMT 10
It's your money Ralph was a popular phrase that took off in the 1980's
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Post by Gort on May 18, 2022 12:06:39 GMT 10
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Post by freddies ghost on May 18, 2022 12:48:59 GMT 10
The chatter is that the Alps vote in Victoria is dire. Wouldn't surprise one bit, with Red Shirts,Lockdowns, Dan owning shares in the company that won the contract after icook foods got shur down, allegedly, Dan facing, what is it, his 3 in camera ibac hearing in the last few weeks..
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Post by Gort on May 18, 2022 23:59:21 GMT 10
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Post by freddies ghost on May 19, 2022 13:58:32 GMT 10
And the winner of the best election ads this campaign goes to
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Post by freddies ghost on May 20, 2022 9:58:06 GMT 10
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Post by freddies ghost on May 20, 2022 10:02:34 GMT 10
Just another thing to ponder. Here in Victoria there is a severe labor shortage, especially Nurses Teachers etc. It's not due to lack of skilled workers, there are plenty of healthy, skilled people who are out of work. The problem is that Dan refuses to allow healthy, unvaxxed people to work (even though they aint the ones getting sick at the monemt) instead, hed rather import workers from 3rd world countries.
If you want to stop this insanity, VOTE THE MAJORS OUT.
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Post by freddies ghost on May 20, 2022 10:27:45 GMT 10
its ok to put Australia first.
VOTE THE MAJORS LAST
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Post by freddies ghost on May 21, 2022 18:27:54 GMT 10
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Post by caskur on May 21, 2022 20:42:59 GMT 10
so far Labor is ahead.
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Post by Stellar on May 21, 2022 21:52:38 GMT 10
I just watched three episodes of Outlander. Much more interesting than the elections.
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