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 [AMA] I immigrated to Australia early 2022, Ask me anything!

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tomatotomatomy
post Jun 19 2023, 06:10 PM

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242 posts

Joined: Dec 2006
From: Land of the lulz

QUOTE(sykz @ Jun 19 2023, 05:58 PM)
No, I mean the mechanism of interest calculation not the OPR related increase.
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compounding interest is the same everywhere
tomatotomatomy
post Jun 19 2023, 06:16 PM

Getting Started
**
Junior Member
242 posts

Joined: Dec 2006
From: Land of the lulz

QUOTE(smokey @ Jun 18 2023, 09:49 PM)
Seems like no hope for single earner to buy a landed house 🥲
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If you’re in Melbourne, you can probably still get a townhouse or a unit within 30km west of CBD under $500k

But the west has a bad reputation, ie many migrants of darker skin, too many factories, etc.

I’ve been living here for almost 10 years now, but nothing bad has really happened.

There are many young families from India moving into the new estates here.

tomatotomatomy
post Jun 19 2023, 06:21 PM

Getting Started
**
Junior Member
242 posts

Joined: Dec 2006
From: Land of the lulz

QUOTE(Chinoz @ Jun 18 2023, 07:08 PM)
All fine and dandy until you realise there’s a negative cashflow element when negative gearing.

I’m not sure why the media likes to portray it as a free ride to riches.
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It is a great policy if your income is above $180k.

Imagine paying less tax for buying a property that’ll increase in capital.

It’s a policy made by greedy politicians to make the rich richer

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