Comment on Victoria sees record fall in rental stock as investors leave the state

Taleya@aussie.zone ⁨5⁩ ⁨weeks⁩ ago

• jonne@infosec.pub ⁨5⁩ ⁨weeks⁩ ago

  Yep, and it’s giving first time home buyers a chance to buy one of those ex rentals. I did.

  Landlords don’t actually build houses, they buy existing stock and squeeze all the value out of them with minimal maintenance.

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  • Taleya@aussie.zone ⁨5⁩ ⁨weeks⁩ ago

    “Victorian owner-occupiers on rise as parasites investors are no longer coddles”

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  • DavidDoesLemmy@aussie.zone ⁨5⁩ ⁨weeks⁩ ago

    Renting is significantly cheaper than owning. If the landlord does their part with maintenance, it’s the better option for many people.

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    • jonne@infosec.pub ⁨5⁩ ⁨weeks⁩ ago

      Not in my case, my mortgage is pretty much the same as what I was paying in rent for a similar house in the same area. And in a few years that mortgage will only become a smaller part of my income instead of growing.

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      • lefaucet@slrpnk.net ⁨4⁩ ⁨weeks⁩ ago

        This has been my experience as well. I’m saving several thousands of dollars a year after about 5 years. I probably couldn’t afford to rent my own home. If I stick with my mortgage for the full 30 years I can only imagine how ridiculously cheap my “rent” will be… Not to mention that rent money is going into my own equity instead of a landlord’s

        I imagine if I were planning on moving within 5 years of purchase renting would be a better deal.

        But seriously, in another 5 years I expect I could rent my property and pay my mortgage in full, while taking some profit to help pay another mortgage…

        You know - be the thing I despise

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      • DavidDoesLemmy@aussie.zone ⁨4⁩ ⁨weeks⁩ ago

        Congrats! But the mortgage is just one part of the costs of ownership. Many people spend lots on rates, water, repairs, upgrades, etc.

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    • Taleya@aussie.zone ⁨4⁩ ⁨weeks⁩ ago

      thing is as evidence is very sharply illustrating, they’re not.

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      • DavidDoesLemmy@aussie.zone ⁨4⁩ ⁨weeks⁩ ago

        Some are, some aren’t. I only have anecdotal data so I’m not sure of how prevalent this is at a national level.

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    • threeduck@aussie.zone ⁨4⁩ ⁨weeks⁩ ago

      But who’s fault is that? That’s right, the investors/landlords who scalped all the houses, making supply scarce and causing prices to increase.

      Owning more than two (and I’d argue more than one) properties should be illegal.

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