I think this topic completes the mandatory topics for any, good forum, alongside COVID and Bitcoin.

Some interesting dynamics around the country, especially in regional areas where home ownership is increasing, and actually a problem, because renters are being pushed out of the market, literally.

I recall a post I saw on another forum where a guy on the Gold Coast was looking at becoming homeless in a couple of weeks if he wasn't able to find anywhere to rent, and it wasn't looking good. This guy was earning over $100K, had an impeccable renting history, etc. etc. but was simply unable to even view any of the places he was interested in. They get snapped up in minutes.

I'm noticing more homeless people, too. And not the usual, crazy kind. People long-term parking in vans in shopping centre car parks. A family living on a boat at the boat ramp. Things like that.

Are we going to become like the U.S. of A.? (**** i hope not)

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www.mygc.com.au/gold-coast-rental-vacancies-at-record-lows-as-tenants-battle-for-homes/ said...
Surfers Paradise, which felt the biggest brunt of the exodus from the rental market has now bounced back to pre-pandemic levels.

The suburb had 2,100 available properties nine months ago, but now has a vacancy rate of just 0.7 per cent.

In the northern part of the Gold Coast, the average vacancy rate has fallen to just 0.6 per cent.

Oxenford has a vacancy rate of just 0.1 per cent, closely followed by Runaway Bay (0.5 per cent), Arundel (0.6 per cent), and Labrador and Southport, both with a vacancy rate of 0.7 per cent.

And that's an old article. We had 18 applicants for our property on the northern gold coast.

Now make this thread about COVID (a driver) and/or Bitcoin (in which house prices have fallen off a cliff).

Is home ownership increasing in the Gold Coast area, or is there an influx of people escaping Covid issues, perhaps using their Bitcoin intergenerational wealth, to buy a place to escape to?

(hey, I got all three in!)

Really though, is this another symptom of our tax system allowing investors to speculate on property and pay more than people that want to live in it? Pushing out owner occupiers?

If it were just investors, then the rental places stay the same and there is no crisis. If its people moving there, then it creates a problem. Does this mean that somewhere in Aus there are huge vacancies as people sell up or place houses on the rental market?

There was an article on SMH about why no government will try and fix the housing price problem, and I think its true. It needs to change but there are a lot of investors that wont like it, and the others are too poorly organised that they won't make any difference. No government will take the risk of getting voted out because of this anymore, which is terrible for society.

With limited investing opportunities, red tape in everything, investing in property is a no brainer in Australia.

Try opening any new biz and navigate through all requirements, environmental approvals, cultural approvals (i.e. neighbours protesting and lawying up against a simple food outlet potential opening in their arrondissement), dealing w unreliable expensive labour force etc etc etc. Tax system is also favourable towards brick and mortar.

I one at the moment w spare cash and could divert in some different biz, but if you evaluate all the risks above, looks like Real Estate is the less stressful, risk etc proposition.

No surprises really specially, matches well the borders closed, lockdown lovin (risk adverse) society Australia presents to be at the moment.

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evlPanda said..
People long-term parking in vans in shopping centre car parks. A family living on a boat at the boat ramp. Things like that.

Could it be the influence (pun intended) of #vanlife videos? They look awesome on youtube. Dr Hannah Straight makes it look real fun. Alternatively try Stealth camping with Steve