Nervous Night
Just when you think it can't get any worse... If you're one of the illustrious eight people who read this blog, yes I'm actually growing at the rate of 4 people a month, you may remember this house in Launceston I've previously mentioned:
Last sold for $335,000 in mid 2009. The going price in my post was $325,000, that was after the first discount. It's yours now for $315,000.
With $20,000 already flushed and another $11,000 torched in stamp duty, it's worthwhile asking how far ahead would the renter be in this situation?
Price to rent a similar house, in the same suburb for 14 months? Around $17,000.
Of course I'm presupposing the occupants are still in this house, which they aren't. They're long gone along with a good chunk of any equity they might have had. Be it they had to move on, or were forced to, they left with less than they came with.
We're on the eve of an RBA interest rate decision and thousands now have a nervous night ahead - they're sweating bullets the next rise doesn't push them over the edge - making them a forced seller in a market that isn't nice enough to give them back all they paid with the extra cherry of capital gains on top.
If you have to sell soon - it won't be just rent money that's dead money.
With $20,000 already flushed and another $11,000 torched in stamp duty, it's worthwhile asking how far ahead would the renter be in this situation?
Price to rent a similar house, in the same suburb for 14 months? Around $17,000.
Of course I'm presupposing the occupants are still in this house, which they aren't. They're long gone along with a good chunk of any equity they might have had. Be it they had to move on, or were forced to, they left with less than they came with.
We're on the eve of an RBA interest rate decision and thousands now have a nervous night ahead - they're sweating bullets the next rise doesn't push them over the edge - making them a forced seller in a market that isn't nice enough to give them back all they paid with the extra cherry of capital gains on top.
If you have to sell soon - it won't be just rent money that's dead money.
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