"Not enough property for first home buyers" Mark Bouris & Matt Lahood
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- เผยแพร่เมื่อ 1 ต.ค. 2024
- Co-Founder and CEO of the The Agency, Matt Lahood has more than 35 years of real estate experience, including 25 years in leadership and growth roles. Matt knows what it takes to significantly grow business and has worked alongside most of Australia’s property industry icons throughout his career. Considered a thought leader within the Australian real estate space, Matt provides media commentary at a national level and is a regular keynote speaker at real estate and property events.
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Yellow Brick Road was founded by Mark Bouris to help Australians on the road to their hopes and dreams. We offer competitive rates, an all-encompassing portfolio of mortgage broking services and a network of trusted home loan experts all over Australia. For more information, visit www.ybr.com.au or call 1800 927 927.
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Thanks for the update and keep doing what you do. My journey in the current market has taught me a lot of lessons, at the top of that list is that it never pays to live above one's means. I have managed to grow a nest egg of around $600k to a decent 7 figures in the space of a few months. Sad to say but a lot of us have poor money management skills. My 2 cents -get an advisor to keep you accountable and aid you make better decisions, Seren Wintersun has been helping me a lot, all through my journey. I find it better to pay a little bit more for peace of mind than worry about money or market trends and still get >burned.
SHE IS ON TELE GRAM.
@Serenwintersun
In a field as rapidly evolving as cryptocurrency, staying updated is crucial. Seren’s continual research and adaptation to the latest market changes have been instrumental in helping me make informed decisions.
Nice, I was just hodling before I found Wintersun. In my opinion she is the very best out there.
The same high-yield potential exists in both bullish and bearish situations; what matters is how information and technique are used. Not neglecting professional advice.
We moved from Sydney to Perth in 2017 as we were unable to escape the rental trap & absolutely love it. We built a 4-bedroom house with a theatre 20km from the city for only $430k with only 2% ($3k) deposit in 2018 thanks to the W.A Government financing the loan with no LMI via Keystart Loans. We felt very frustrated in Sydney & feel very fortunate that the state government here cares about its residents unlike NSW. There are no road tolls either here (unlike NSW thanks to massive corruption by their politicians) & electricity bills are less than a 1/4 of what we used to get in Sydney thanks to the 20 solar panels that only cost us an extra $1000 when we built the house. Our first investment property has been thru an SMSF with our 3-bedroom townhouse in Brisbane going up over $150k since December 2023. We also just bought a 510m2 block for only $289k in Mandurah so we can build our dream house & negatively gear our current house to reduce our taxable income. This was all only possible due to moving to Perth & is how Australia should be in my opinion.
"Abolishing negative gearing, reforming capital gains tax, and banning foreign buyers from purchasing residential property while encouraging them to invest in commercial property could help balance the housing market. Providing tax incentives for first-home buyers on their mortgage interest payments for the first ten years (similar to the U.S. housing policy) would promote home ownership, reduce demand for rental properties, and lessen the burden on taxpayers in the form of rental assistance. Additionally, 80% of newly released land should be allocated to first-home buyers."
Genius 🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉
@@satwindersaini4522 absolutely, some good ideas there.
Labor did abolish negative gearing. The same government reintroduced it 2 yrs later when the result of that decision hit home.
I'll second that
The new land being allocated for first-home owners would have a massive effect!
Thanks guys. 18:00 in talk of first home buyers not buying even though rates are low. Due to smart phones and the Internet people are far more financially literate than they used to be and therefore they are aware of the fact that homes are predominantly a liability rather than an asset. We still have older generations that have not educated themselves on economics and finances but for the most part the younger generations are not interested in locking up 30 years of their producing time to an asset that when adjusted for inflation and associate costs will depreciate. Added to this we have a 15 year period. that has just begun with Boomers transitioning into assisted-living, aged care facilities, units and departments which means we will have a glut of property coming onto the market at prices lower than we have seen in the past and the younger generations are acutely aware of this, so they are in no rush to pile in to the housing market at the moment .
Just make Negative Gearing and associated CGT discount only apply to new builds, but granted as a tradeable, consumable token that an investor can use against an existing property. That way FHBs can trade the rights to someone else. The net result is a new house was built as a result
When you have such valuable guest on can you please ask about Tasmania and elaborate we are missed on every data point on main stream media it’s maddening 🤦♀️🤦♀️
It was GREAT to hear us actually mentioned in this one albeit a snippet
Nonsense .
More like not enough money for the poor .
Sorry I meant the middle class , which is a bumma for the loan businesses
Interest rates might be at long term averages, but house price to income ratios are through the roof
Zero respect for real estate agents
I wonder what the 3rd thing was... Clearly Mark doesn't want us to learn Matt's secrets!! lol
People aren’t willing to change lifestyle or a huge bubble?
How does anyone build a business this quick? It's not like it wasn't in a very well established sector. Amazing.
Ban Airbnb and short term rentals. Tax empty secondary properties. Abolish negative gearing. Implement rent controls.
Move to China 🇨🇳
Yooohoooo! Ban immigration
@mr_jdes china had a huge speculative property market like Australia, only difference is a negative birthrate like Australia and no Migration. Causing the market to crash
All of these measures have been tried numerous times around the world and none have even remotely worked. More supply is one of the answers but the government needs to reduce the taxes charged on new properties (greenfield sites it’s more than 30% of total investment)
@@joshuajackett6371 maybe reduce immigration too, it might have some effect 😉
Low interest rates relative to long term average interest rates but interest rates compared to house prices/income ratio is off the chart! That’s why first home buyers can’t buy and are renting.
Great honest Aussies...great insight! Thank you
What a great interview.
❤
Moved to the Goldie in 1993, I have seen it all. Booms busts, Raptis going bankrupt 4 times, vaccancy rates over 10%. Since covid it has now become a lifestyle city. The cost of living is through the roof and those with deep pockets are dropping huge overs for property. As Bernard salt said about 10 years ago. The GC will become a "ghetto for the rich". Well its the best ghetto in the world. My advice if you want to live on the GC, buy now, as prices will only go up.