I'm going to miss TT while I'm gone. Granted, it's only 6 days, but those are six days in which I will stare at Star tv, the Bloomberg channel and CNN Asia wondering what the hell I'm doing with myself. Some people go on vacation to experience the local culture and embrace new lifestyles (I very fortunately missed out on that when my flaky fucknuckle of a friend blew me off for nookie with her ex FOR THREE WHOLE WEEKS AT THE LAST MINUTE AFTER I'D BOUGHT OUR AIRFARES. FUCK YOU, SAZ), others to lie on beaches and marvel at the lack of indoor plumbing in their 1.5 star hotels, still others to relax in 5 star splendour. Me? I mooch off friends living in foreign capital cities, abusing their cable, taking full advantage of maid service and generally lowering the opinion of Australians abroad. Fortunately, I will not be travelling on my Australian passport and thus will not feel guilt about disgracing my country further in the eyes of our neighbours. Not yet decided what country I'll embarass, but I have a couple to choose from, so we'll see.
When I get back, I'll take over a friend's snazzy beach hideaway in an oh so fashionable unfashionable little bay where I will poke fun at those who paid <$100,000 for their properties by mocking their very Oshtrayan accents and reluctance to embrace the covered shoe after 5. Holiday!
Tonight TT ran an awesome story on the tragedy that is shonky non bank lenders. A clever young entrepeneur is selling and financing cookie cutter homes in questionable suburbs, promising ridiculous rates of return and very little outlay after rents and deductions. People are actually believing him, seriously. I have a bridge I'd like to sell, you fucking halfwits, anyone interested? I'll even arrange interest only loans, secured against your house. There's a simple reason people like this can get away with operating their shady businesses: greed. People at heart are fucking greedy.
Property is expensive; on a $250,000 loan at a standard variable rate, the fortnightly repayments are something like $600. This doesn't take into account council rates, water rates, and if purchasing a unit, strata fees. It also doesn't take into account any repairs that may need to undertaken, especially those emergencies which can range from $400 to investigate a faulty lightswitch, right up to thousands and thousands for something like termite damage. And then you have the fees the property agent requires to manage your property as well as budgeting for times when your property may not be tenanted. In short, unless you're in it for the long haul, have good insurance, a sizeable reserve of cash for unforseen expenses or an untenanted property, you're probably a fuckwit for investing in property. This is information which is freely available, not at all difficult to search out, and reasonable simple to comprehend. Nowhere in the story does TT bother to share this with their viewers. Instead, they blame the financier/realtor for conning people into buying the dodgy properties whose rates of return are really, really fucking low and really, really fucking unnafordable to the little Aussie battler.
If it were up to me, I'd demand a public flogging for every moron ever caught up in one of these schemes. I used to think death was appropriate, but I'm becoming a little softer as the insanity sets in.
When I get back, I'll take over a friend's snazzy beach hideaway in an oh so fashionable unfashionable little bay where I will poke fun at those who paid <$100,000 for their properties by mocking their very Oshtrayan accents and reluctance to embrace the covered shoe after 5. Holiday!
Tonight TT ran an awesome story on the tragedy that is shonky non bank lenders. A clever young entrepeneur is selling and financing cookie cutter homes in questionable suburbs, promising ridiculous rates of return and very little outlay after rents and deductions. People are actually believing him, seriously. I have a bridge I'd like to sell, you fucking halfwits, anyone interested? I'll even arrange interest only loans, secured against your house. There's a simple reason people like this can get away with operating their shady businesses: greed. People at heart are fucking greedy.
Property is expensive; on a $250,000 loan at a standard variable rate, the fortnightly repayments are something like $600. This doesn't take into account council rates, water rates, and if purchasing a unit, strata fees. It also doesn't take into account any repairs that may need to undertaken, especially those emergencies which can range from $400 to investigate a faulty lightswitch, right up to thousands and thousands for something like termite damage. And then you have the fees the property agent requires to manage your property as well as budgeting for times when your property may not be tenanted. In short, unless you're in it for the long haul, have good insurance, a sizeable reserve of cash for unforseen expenses or an untenanted property, you're probably a fuckwit for investing in property. This is information which is freely available, not at all difficult to search out, and reasonable simple to comprehend. Nowhere in the story does TT bother to share this with their viewers. Instead, they blame the financier/realtor for conning people into buying the dodgy properties whose rates of return are really, really fucking low and really, really fucking unnafordable to the little Aussie battler.
If it were up to me, I'd demand a public flogging for every moron ever caught up in one of these schemes. I used to think death was appropriate, but I'm becoming a little softer as the insanity sets in.
posted by Today Tonight at 4:52 AM
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