Quote:
Originally Posted by prydey
to a point. people don't have to buy or spend that sort of coin. too many people want to start out life where their parents are currently at. you know, nice house, nice car, lots of luxuries, hobbies etc etc. no one wants to leave home and buy a house within their means that looks like a run down shanty. everyone wants to have it now.
well, now, its starting to take its toll and many are feeling the pinch. overtime dries up so those that rely on it start to point fingers at the economy or inflation etc. cost of living goes up, rates go up etc etc, but because so many are living so close to their limit, or beyond their limit, it impacts hard.
once companies start dropping prices in a bid to maintain volume, its a race to the bottom. its not sustainable.
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you are correct, but the thing is most of the run down shanties get snapped up by investor looking to flip it and make a quick buck, they don't care about condition because they never live there. Its hard to buy a run down place move in then start doing the repairs it is possible but hard, most of the derelict houses go to auction, so you bidding against people that have negative gearing in the back pocket and other assets, that will out bid just because they can.