INSERT FUNNY DOMAIN NAME HERE!!

Ignorance at its best.

A real shame. The Australian Political Party, “Family First” is calling for special tax breaks for first home buyers.

Basically it is trying to convince the government that we should allow first home buyers to make the interest on their first home tax deductable.

First. I am the biggest PROponent of cutting tax, on anything. I believe the government, state and federal, could trim huge amounts of fat from their coffers and afford the public huge tax cuts.

I am however very much against giving some persons definition of a battler tax breaks that not everyone is entitled to.

I live with my partner of 9 years, we are not yet married (I said “YET” M). We have no children. We have our “first home”. We also have an investment property. We both work our butts of. I manage several ecommerce businesses, my partner works in Microbiology. We go without plenty, we know we cant afford to have children and a quality of life we want now, so we wait, save our money, invest wisely and a little hoping for the best.

So, we were smart, didnt get married and pregnant young, worked hard, studied, didnt travel, go out every weekend, squander our money. Are we not entitled to the same tax deductions? Why not? What makes someone else more deserved than us?

See where I am going with this? Its wrong to give handouts, unfair advantages to the so called disadvantaged. What rubbish. I work and suffer and do the hard yards, only to fund someone who didnt have the discipline to do it themselves?

Tell me how that is fair.

According to this article we are perhaps in the midst of a housing market recovery in the big 3 cities of Australia at least.

I have been telling people for quite some time now that it is a buyers market and one can really shop around for a bargain. If the article is to be believed, there is a serious housing shortfall occuring at the moment. This is not surprising if it is in fact the case. Rent prices have not increased for quite some time in Sydney at least, while the house prices were soaring. We are long overdue for a rental increase, unfortunately it has happened quite suddenly, meaning that many increases have been quite high with no warning.

This perhaps will hurt those trying to get into property, however the investment buyers will love it, making housing a desirable investment vehicle.

As I have said in another post, those trying to get into the property market should look at investing first instead of buying their own home. House prices will not get cheaper!

Housing affordability stretched indeed.

What rubbish.

Sure house prices have gone up, but not beyond the reach of most Australians.

The problem is most people want their cake and eat it too.

A $500 000 mortgage is well affordable on a dual income couple/family, of which more and more are these days.

Your average MONTHLY payment on a 500k mortgage that is interest only is less than 4k a month. 2 people on 50k a year will bring that home easy, and have play money.

Where it really gets difficult for people is they want everything.

They want to have children, which is fine, but wait a few years instead of having them in your early 20’s or when your just starting out.

They want nice cars, go buy a second hand car for 10k rather than taking out a loan on a new commodore, or 2.

They want the nice electronics, plasma tv, all that jazz.

They want to go on overseas holidays.

Of all the wealthy people that I know, not one of them did any of the above, all waited to have children, all drove second hand cars - some still do, all had a cheap tv or none at all, all worked hard, saved their money. Their early discipline has allowed them to reap the rewards later.