Bye Bye NSW Property Market (long)

>>Just a simple balance of power is sufficient to keep, whatever government is in charge, under control.<<

Yeh, I am so desperate that I have now come down to quoting part of my own post.

All I read is complaints.

I don’t however see anything about how to combat
being robbed, how to stop being used, how to get these absurd decisions reversed.

Decisions reversed ?

Yes, yes, yes, that CAN be achieved but not by being quiet, sitting on one’s hands, silently crying about being bled to death.

ACTION is needed.

Organised action.

Act now or repent later at your leisure.

If you aren’t prepared to act NOW do you really
think you will do something about it later ?

Who do you think you are kidding ?

Pisces

Myself and others took on Penrith City Council a decade ago over colour restrictions to our proposed new homes and we one.

Who is Carr to me and You? Expendable! Im ready if you are Pices, lets start a revolution, Im sure we can find support![rambo2]

“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….”

Mysta, I note you have only just joined this site.

If you want to make a change one is able to edit one’s post.

I note that I was unable to email you !!! nor did the ‘Private Message system’ appear to work (please take note Mr WebMaster).

Pisces

As a QLD’er we already have the media announcing “Qld property to boom once again as NSW gets hit with tax” Fine by me, but I think they kind of forget that there are other states in the country to choose from.

Seems to me that the government is trying to drive people out of investment in NSW. Risky considering other states can offer lower taxes. What are they thinking? They only have $$$$ in front of their eyes, but surely they would have to look past these and realzie the implications on the state???? Or am I giving them too much credit?

Perhaps Steve may be prepared to allocate part of his book’s profits (which he has already
said that he is donating to charity) to be used as seed money to get a new Property Owners political party off the ground ?

What say you, Steve ?

Pisces

It’s a bit early to predict that it’s is going to be all doom and gloom.

I don’t know why people are running around saying the sky is falling in.

To me it seems like demand will go up for properties less than $500,000 and supply will decrease as less investors sell. Therefore higher prices

Nobody seem’s to be talking about land tax.

My business will save about $6,000 per year in land tax (from $27,000 – $21,000)

Look for the opportunities rather than the negatives

It is really interesting to hear all the discussion on this topic. It will be interesting to see how it unfolds. I am left wondering why the government seems to be looking for a quick fix solution given that their next election is so far away.

I would also have thought that it would be in their best inerests to 1) let market forces control the market and not try to “fix” things as in 99% of cases this just tends to stuff things up. 2) Not lay this on a market which is already at the begining of a downturn. The other thing is that surely it makes more sense to keep the market more active and get a larger number of sales on which stamp duty is paid on the full value of the property, not just the profits. I suppose there will probably be an increase in the number of people trying to sell before this comes in though, who will buy? Apart from the fact that if people are making money whatever it be in they will spend it which will generate employment and have other knock on effects. The robin hood syndrome never works!

It was interesting to read an earlier post about the actual cost after considering capital gains impacts etc. I think that the effect on the market will be bigger than just the cost though.

Zimonya

Hi,

Some people will be winners in all this.

If you are trying to buy a first-time PPOR in Sydney, the abolishment of stamp duty may help a bit, but the reality is that with a median house price of over $475 000, most (all?) decent houses will be above the cut off limit anyway.

However, for young families/first time buyers who live in regional centres and country towns this will be surely be great. These people have been forced to sit back and watch their local prices boom out of their price range as they get swamped from out-of-town property investors keen to add another + cashflow property to their portfolio. (pls note this is not a criticism of PIs, merely a commentary on how the system works).

Having said that, I think that before the government can slug extra taxes they should be able to account for their financial (mis?)management over the past few years. Is it too naive to demand that they publish a tally of total government expenditure? I think all governments should be made to do this after each fiscal year.

As PIs are about to become possibly the most taxed population group in this state, I think we have a right to know where ALL the money goes!

Anastasia

All this talk of doom and gloom, what happened to becomming successful from doing this differently.I guess its time to get creative. Being taxed on profits? I was taught that you cant go broke making a profit.

Lots of +cf props NSW Country. Hard work is done. Nick 0414 274 495
[email protected]

>>I was taught that you cant go broke making a profit.<<

That is the greatest bit of nonsense I’ve ever seen.

Taking small profits, taking all the risks and
making a good size loss here and there will soon send you broke.

Oh, I know, if you don’t sell you don’t realise the loss, is that it ? [laughing]

Pisces

Pisces