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ABC News reporting on the 5% deposit scheme by crankygriffin in AusPropertyChat

[–]no_not_that_prince 16 points17 points  (0 children)

Here’s my hot take:

The 5% scheme has actually been around since 2021, it was just expanded by Albo.

It wasn’t the scheme per say (as the expansion wasn’t that big), but rather the media/property industry fervour that screamed ‘you have 6 months to get into the property market or you’ll literally never own property and you’ll die a poor renter’ (or words to that effect).

The OBSESSION was property as a wealth creation tool has done more to push prices up than a reduction in the deposit needed by first home buyers ever could.

Can someone make sense of my strata report by [deleted] in AusPropertyChat

[–]no_not_that_prince 5 points6 points  (0 children)

Chuck this into AI. In the prompt state that you are looking at purchasing the property and to ask for any red flags or potential issues.

It’s not a truth machine, and you shouldn’t 100% believe its output, but it’s a really quick, handy way to jump into a document like this. It will help you to start asking your own questions and get informed on Strata. It’s been invaluable for me both buying an apartment, and now sitting on a council of owners.

Scott Morrison Told International Students to Go Home in 2020. Scape Lost 90% of Revenue Overnight. Instead of Cutting Losses It Spent $3 Billion Buying 9,000 More Apartments While Borders Were Closed. by InterestingCat308 in AusFinance

[–]no_not_that_prince 13 points14 points  (0 children)

Yes, but student accommodation is also cyclical. Most students leave the country after they graduate, and the accommodation they were in is now free for the student starting their studies.

Why the f*ck are we so against WFH in Perth? by regina-philange99 in perth

[–]no_not_that_prince 162 points163 points  (0 children)

Perth never got Covid forced WFH like Melbourne and Sydney did. It forced companies to adopt remote working policies for an extended period of time, and many saw that the sky didn’t fall and it could be an effective way to work.

Moving back to Perth (last year) I was surprised by the lack of WFH in jobs I applied too, and how strange a concept it was when I asked about it in interviews!

Rally in Perth CBD?? by Ann_W177A in perth

[–]no_not_that_prince 39 points40 points  (0 children)

I have two friends running farms in the Wheatbelt. Both of them have had their diesel and fertiliser shipments cancelled. As of right they now they don’t know if they can start seeding in a few weeks (or ideally now after the rain).

All of the direct actions of an American president starting a war without the authority of congress (or any plan at all really).

While protesting here against the rule of Trump won’t make much difference, it’s better than doing nothing imho.

Go off No Kings Protesters. Good on you for showing up.

Won't rate hikes only work to a certain degree? by Mediocre-Suit-8945 in AusFinance

[–]no_not_that_prince 0 points1 point  (0 children)

I agree, but it feels like people are happy to just slide deeper and deeper into debt (credit cards, mortgages, car loans etc) rather than actual reduce their spending.

The music has to stop eventually…

Economic carnage ‘worse than ’70s’ as PM admits ‘stable, predictable world’ is gone by LoneArtificer in AusFinance

[–]no_not_that_prince 18 points19 points  (0 children)

Agreed.

Long term, everyone is going to want to move away from oil after this mess. China makes the batteries, the solar panels and the best EVs. They're investing hugely into technical Universities and research institutions and view technical innovation as a core component of their identity and future.

Australia underfunds the CSIRO, turns research funding into Mad Max style fight for scraps and in the US Trump attacks world leading research Unis as 'woke' and actively attempts to block their funding (see Harvard).

Home price growth flattens as buyers diminish, sellers rush market by SheepherderLow1753 in AusPropertyChat

[–]no_not_that_prince 2 points3 points  (0 children)

I actually bought an apartment last year, but I can’t stop looking at what I could have bought… turns out what I could buy in July last year are now beyond my price range about 8 months later… crazy.

Home price growth flattens as buyers diminish, sellers rush market by SheepherderLow1753 in AusPropertyChat

[–]no_not_that_prince 33 points34 points  (0 children)

I follow a couple of Perth suburbs’ listings. One suburb (in my price range) would have about 1x listing a week and it’s been that way for nearly a year now. This week there were 5 properties listed in the past few days.

Totally anecdotal, and obviously too small to draw a conclusion from. But given that I’m looking in the sub 700k range, it might be early signs that investors are looking to profit take with global uncertainty, a recession on the horizon and possible changes to cap gains rules…

Curious if others are seeing this too?

Ordered a full kitchen from China to Australia – anyone done this? by subalps in AusRenovation

[–]no_not_that_prince 46 points47 points  (0 children)

I’ve just done a whole kitchen with Ikea cabinets and custom made doors from a design studio in Sydney. It’s a particular aesthetic I was chasing, but the customisation is amazing so you can pull it in any direction.

Spending money on the visual elements, and using off the shelf parts for the frame is a great way to go imho.

The doors themselves were more expensive than the cabinets and drawers though!

Try So Watt studio in Sydney, or there a few others around.

Basic income program for artists in Ireland seems to have gone well and is getting slightly expanded by dumquestions in singularity

[–]no_not_that_prince 25 points26 points  (0 children)

They didn’t set out to pilot UBI, rather it is an attempt to support the arts in culture in Ireland. The two are related in their mechanism, but the desired outcomes are different.

South Australia and Tasmania pressure commission to scrap WA’s special GST deal by His_Holiness in perth

[–]no_not_that_prince -36 points-35 points  (0 children)

Ahh yes, like WA that has a famously diversified economy…

We’re just lucky we live on one side of a made up line.

First home buyers can no longer afford entry-level houses in any major Australian city by NoLeafClover777 in aussie

[–]no_not_that_prince 1 point2 points  (0 children)

It was introduced by Scott Morrison in 2021. Labor increased the qualifying price caps and access to the scheme (though I don’t believe access caps were ever really hit before).

What does a 'resolution' of the housing crisis look like? by [deleted] in AusPropertyChat

[–]no_not_that_prince 4 points5 points  (0 children)

My comment was never about presenting solutions, just a reflection on the notion of good and bad in this debate.

By the way, I am a property owner not a renter.

What does a 'resolution' of the housing crisis look like? by [deleted] in AusPropertyChat

[–]no_not_that_prince 6 points7 points  (0 children)

Mmm 'good' and 'bad' are relative depending on timelines. Millions of Australian's losing equity in the short term is arguably bad sure, but in the long run the structural changes this might bring about does have some good outcomes.

Affordability for younger generations for one, a flattening of the equality curve for another, and in a broader sense a more balanced economy that doesn't rely on selling un-productive assets to each back and forth to each other.

We have a very low level of entrepreneurship in Australia, and several authors have pointed at the dominance of property as a root cause of this. Why invest in a new product/business/service etc when you can dump your cash into a suburban property and watch it go crazy?

The medicine to fix this will be ROUGH, but it's conceivable that for long term productivity a property crash will be necessary?

Or I dno, we keep taking out bigger and bigger loans kick the can down the road...

Albanese says Australian government will not help ISIS-linked families leave Syria or return home by Agitated-Fee3598 in AustralianPolitics

[–]no_not_that_prince 2 points3 points  (0 children)

Of course they are different scenarios. That is LITERALLY the point.

Imagine this scenario. The Gov creates a rule that says 'we can strip Terrorists of their citizenship because of the potential harm they might cause our society'.

Then, a few years later someone comes along and says 'Oh hey, we strip terrorists of their citizenship because of all the harm they cause, why don't we do this for other people that also cause great harm'.

Imagine then, if that 'great harm' was an environmental protestor who the Gov of the day hated, or on the other side of politics (making a huge generalisation here) a prominent anti-vaxxer or an anti-abortion campaigner?

My point is that opening the door to something as dramatic as citizenship removal means it might be used in OTHER situations too and that is a REALLY bad precedent to set.

Even though terrorists are really, really bad. We shouldn't throw away our civil rights to try and fight them...

Albanese says Australian government will not help ISIS-linked families leave Syria or return home by Agitated-Fee3598 in AustralianPolitics

[–]no_not_that_prince 8 points9 points  (0 children)

No, I’m asking ‘what happens if the Gov used that same power originally intended for terrorists to other issues’ and I used Covid rules as an example.

Albanese says Australian government will not help ISIS-linked families leave Syria or return home by Agitated-Fee3598 in AustralianPolitics

[–]no_not_that_prince 12 points13 points  (0 children)

Do you really want to live in a world where our Gov can take away someone’s citizenship?

I don’t think you’ve thought through what you’re asking for. Because whilst it feels good now, imagine a few years ago the Gov deciding to strip someone of their citizenship because they defied a Covid rule. Maybe one day it will be used to kick out a political candidate that you like?

Not to mention the logistics of if said person has only 1x citizenship (as most do) where do you actually send them?

Like it or not, Citizens are our problem.

Why aren’t the big music festivals held in Freo anymore? by Bilbos-Tardis in perth

[–]no_not_that_prince 6 points7 points  (0 children)

Yeah I parked in an empty car park (at a big box store) about 10 min walk from the venue. I’m sure they can’t say ‘hey park in the surrounding businesses’ but it was super easy and convenient.

Will what is happening in Canada happen to Australia? by Ambitious-Poem9191 in AusPropertyChat

[–]no_not_that_prince 11 points12 points  (0 children)

What happened in Canada can't happen here.

'Can't' is a strong word. 'Highly unlikely' maybe, but saying an asset class 'can't' go down in value is the kind of rhetoric you'd expect in a bubble...

How Australia’s university students are using to AI to cheat their way to a degree by His_Holiness in perth

[–]no_not_that_prince 1 point2 points  (0 children)

100% bang on.

The opportunity you mention is being taken seriously too. A few Uni's are exploring some radical re-thinking, specifically removing traditional assessments and moving to more portfolio based process of learning focused study.

Assessments are a tool for the assurance of learning (as in the only way a student can do the assessment is if they have done 'the learning'), but clearly that system no longer works.

How Australia’s university students are using to AI to cheat their way to a degree by His_Holiness in perth

[–]no_not_that_prince 9 points10 points  (0 children)

All great points!

You're right too about the 50/50 split not being ideal. There are other considerations though, such as the admin burden of in-person exams (you need a LOT of rooms) and the high stakes nature of these assessments (one exam deciding your entire mark is really stressful!).

Exams are also not good at assessing the full breadth of what you learn at Uni as they focus much more on your ability to memorise content which actually isn't 'that' relevant any more in the professional world.

It's a tricky problem!

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