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PROPERTY
nipper
post Posted: Yesterday, 08:41 PM
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QUOTE
There is a terrible collision between several economic realities about to occur and it is going to leave hundreds of people seriously out of pocket and the housing market with a glut of cut price apartments.

Roughly 10 per cent of off-the-plan purchasers have defaulted on their contracts in the past three months, and more are likely to do so in the next few months. It’s all down to a combination of factors.

There are the completed properties not being worth what was paid for them due to falling prices. That leads to negative equity ; owing more on the property than they are worth.

Most lending institutions are only prepared to offer loans on final valuation rather than the initial purchase price agreed before building started.

Then there are large numbers of purchasers losing their jobs or not being sure they will keep them. And the option for purchasers of walking away from their 10 per cent deposit is not as simple as it seem.
.
-sadly, it is not tempting to rush in and score a bargain!




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
henrietta
post Posted: Jun 18 2020, 10:03 AM
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In Reply To: nipper's post @ Jun 18 2020, 09:26 AM

QUOTE
privatise profits and socialise losses


Ask the US banks how to do it if you're not sure.

Cheers
J



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"Sometimes I sits and thinks, and sometimes I just sits." Satchel Paige

"No road is long with good company." Traditional
 
nipper
post Posted: Jun 18 2020, 09:26 AM
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“It is really, really hard,” says private Melbourne developer and Rich Lister Tim Gurner. “The jobs are in the big [apartment] towers, and work books have shrunk.”

“The government has to get very serious,” he says recommending the removal of impediments to off-the-plan sales, such as punitive taxes for foreign buyers, and the reintroduction of stamp duty incentives for off-the-plan buyers.
Perfect storm.

And what do we want? Why, privatise profits and socialise losses is the chorus.


Covid is merely the last of many issues hitting construction and sales.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: rlane  
 
early birds
post Posted: Jun 4 2020, 09:16 AM
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https://www.afr.com/property/residential/wh...20200603-p54z1f

The housing industry will be grateful for the Morrison government’s $688 million HomeBuilder package, quietly disappointed at its size and restrictions, and a little bemused by the new emphasis on renovations.

==================

sound like Labor's "insulation crap" that over 10 years ago.....

Mick and others what do you guys think of this thing?? unsure.gif



 
nipper
post Posted: May 30 2020, 10:48 AM
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Covid-19 has ruffled office sector of property. There was a 40% drop in A-Reits from Feb to late March, though most have clawed the way up a bit.

Are offices a thing of the past and the collegiate way of working now replaced by working from home?

Listed funds with a high exposure to office property include Charter Hall Long Wale, Dexus Property Group, Abacus Property and GPT Group. Australian Unity and Centuria Capital Group are among the managers offering specialist funds.

Listed property conglomerate Mirvac, which is known for its residential expertise, manages more office space than some of the specialist trusts.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: triage  
 
balance
post Posted: May 18 2020, 03:35 PM
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In Reply To: mullokintyre's post @ May 18 2020, 03:28 PM

So, it appears to have been tested in court with Telstra.

Does workers compensation cover employees working from home?
If you injure yourself while working from home, you may be entitled to compensation through a no-fault insurance scheme like WorkCover - the outcome of your claim will depend on whether it can be shown that your injuries occurred in the course of your employment.

For example, in one case, the Administrative Appeals Tribunal ruled that Telstra had to pay the medical and legal costs of an employee who was injured while working from home. The employee, named Dale Hargreaves, was working from home and left her computer to go downstairs to retrieve some cough medicine. On her way she slipped and fell down the stairs, injuring her shoulder.

While Telstra denied liability due to Ms. Hargreaves' remote working location, the Tribunal ruled the fall occurred during her employment and deemed it like any employee taking a break at work. Hargreaves and Telstra Corporation Limited [2011] AATA 417.





Working from home: employer obligations
Employers have a duty of care when it comes to their workers undertaking their tasks from home. The Workplace Health and Safety Act 1995 says that employees working from home are still covered when injury occurs.

Employers must take reasonable steps to ensure their employee’s safety, including making sure an employee’s home area meets workplace health and safety requirements, and completing a risk assessment. An employer should also provide a working from home policy which:

  • gives clear instructions on how to perform your duties safely;
  • states when or how the employer will inspect the home environment; and
  • provides information on when and how employees should report potential health and safety issues.
Employees also have a responsibility to look after their own safety. They should designate a work area that family and other members of the public aren’t allowed to enter during their hours of employment.







And from Worksafe: https://www.safeworkaustralia.gov.au/covid-...rking_from_home?



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Day Trader: Lowest form of life in the known universe.
Shorter: Can limbo under a day trader.
Investor: Salt of the Earth.Sits to the right of God (Warren Buffet)
Share prices are only ever manipulated down.
Paper losses are not really losses.
Chat site posters always know better & know more than anyone about anything.
I'm 29.
The cheque is in the mail.

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mullokintyre
post Posted: May 18 2020, 03:28 PM
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In Reply To: mullokintyre's post @ May 15 2020, 01:15 PM

An interesting application of the law of unintended consequences was highlighted in the OZ today.
Seeing as so many people are working from Home now, what happens if you trip and fall in your new workspace?
Are you covered by Workcover?
Will workcover premiums go up down or stay the same?
With all these new workplaces, will the workplace health and safety inspectors be allowed to check it out?
And if they are, who pays for any alterations to a "dangerous environment" identified in the new workplace?
What happens if you do not want unsightly rails , barriers, warning signs etc erected i your home?
Ah, ya gotta love the law of unintended consequences
Mick



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sent from my Olivetti Typewriter.
 
mullokintyre
post Posted: May 15 2020, 02:38 PM
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In Reply To: nipper's post @ May 15 2020, 02:14 PM

QUOTE
you beat me to it, Mick

It's just that I type faster , but less accurately.
Mick



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sent from my Olivetti Typewriter.
 
nipper
post Posted: May 15 2020, 02:14 PM
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In Reply To: mullokintyre's post @ May 15 2020, 02:06 PM

you beat me to it, Mick wink.gif

But urban amenity will always have a pull factor. We all know how long it can take to find a buyer for regional properties.




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: May 15 2020, 02:08 PM
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In Reply To: rlane's post @ May 15 2020, 01:41 PM

Not taking it all as gospel, there's some elements of truth in this story.

Australians seek regional affordability, as research shows 30 per cent price plunge possible with coronavirus second wavehttps://www.abc.net.au/news/2020-05-15/aust...avirus/12242252
QUOTE
Key points:
  • - The option of living further away from big cities has become more appealing for some Australians after the pandemic
  • - The city exodus has yet to play out and comes as CBD rents dive and national house prices are expected to take a big hit
  • - Whatever happens to the housing market, COVID-19 has shifted the way people think about where they live and work

It's going to take a while for the implications to flow through

CBDs; what purpose?
- hub and spoke mass transit, with rush hours?
- NSW is basically saying; don't take pubic transport for now
- bikes offer freedom; cars could choke the
- expensive office space with high allocation per person? Hot desking, gone!

Home life
- More sprawl, but perhaps a bit more community in each cluster? Or even cluster in each community!
- Broadband and 5G gotta get efficient.
- And for those not able to benefit from
- and what about age-care homes/facilities? Independent living?

Distribution channels
- The 'gig economy .... e-bikes and scooters. Another subset of day labour, except its crumbs off the table, job lots (not lots of jobs)
- More packaging
- The mall. A curious 20th C model (I hope)



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
 


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