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You're both right, it all just depends on how you define things.
Land can devalue due to erosion, wells going dry, drought and fire etc. Or it can be as simple as being built out and loosing your view. Change in zoning rules can also make a block of land more or less apealing. Then there's things like earthquakes and rising sea level etc. Then there's a case of supply and demand devaluing the land.
So call it what you will, but there is no guarantee that your land will always keep up with inflation or better.
OK, there seems to be some confusion. I am not suggesting that land values cannot go down. I'm not even talking about market prices at all. Depreciation is a specific concept around wear and tear and obsolesence of assets. It's just saying that unless God built it, it will eventually need to be replaced. That's it. It has nothing to do with market values rising or falling or fires/floods/earthquakes etc.
Good for you guys. There a few things that cost more over here (US) like health care, but overall the middle class and up have a much better financial situation over here.
Going shopping in the US is awesome. If you're used to Aussies prices, it's like everything is 70% off. Then you find deals on the net for 50% off and it's like it's free compared to Aussie prices.
Good luck with your move!
You know that's a scam, right? Do a little price comparison and you'll find that your OMG Awesome 50% off coupon just brings the price down to normal? If you ever buy anything in BB&B without a coupon you're paying 20% more than you would next door. Look at what appened to JC Penney's.
You know that's a scam, right? Do a little price comparison and you'll find that your OMG Awesome 50% off coupon just brings the price down to normal? If you ever buy anything in BB&B without a coupon you're paying 20% more than you would next door. Look at what appened to JC Penney's.
What's a scam? I don't do coupons, I'm talking about deals from on-line stores like steep and cheap and woot etc. I always do an amazon price check.
Then there's great deals to be had on Craig's List. I've bought a lot of basically new items for 1/2 price or less.
I payed $3800 for a mint 06' KTM 300 dirt bike a few years back. It had 400 miles on it... the guy showed me his receipt for over $6K (retail on new ones are over $8K).
Last year I bought a very nice, mint condition, full grain leather sofa $7K for $1800.
Then there was the rose wood slab dinning table for $2700. They usually sell new for $10-15,000 since they are made from a single, huge (9ft x 4ft x 4") slab of rosewood.
Bought a new pair of mirage OMD-28 speakers in rose wood ($7K retail) for $180o (woot)
I'm sure if you were buying new you could do better than retail on most items, but even given the street price of this stuff I'm saving 50%.
Even our house cost us only 50% of what it cost to build - it was brand new.
Last edited by Colorado^; 11-04-2014 at 11:09 AM..
It is an enduring sorrow to me that no-one here laughs when I say tell him he's dreaming. Or, for that matter:
not happy Jan
that'll be the phone, Reg
geee-oh, gee gee-oh
But doesn't Australia have a generous social welfare system?
We'll give you enough to live on, but we're not going to buy you a million dollar house. I think you need to think and read a little more on what welfare is in countries with real welfare.
But doesn't Australia have a generous social welfare system?
Quote:
Originally Posted by WildColonialGirl
We'll give you enough to live on, but we're not going to buy you a million dollar house. I think you need to think and read a little more on what welfare is in countries with real welfare.
It is generally ok and quite helpful even for middle class income earners.
These are Family Tax Benefits, although they have changed with the change in Government for this current financial year, and not as generous as they used to be.
Becoming bankrupt is usually through over-committing and over consuming, generally not those on welfare. And welfare won't pay a $1/2 million dollar mortgage.
Many long term welfare users and unemployed can go into Housing Commission, or low cost housing options. This is good system for those who would otherwise have no hope.
The Social Welfare system though is also too open to rorts and abuse in Oz, the most common one being the single parents pension - where the (usually) non-working mother lives with an undeclared de facto male who is in full time employment, who may be the father of one or all of the children, but still gets full substantial benefits - including rent assistance and pharmaceutical discounts etc. Very hard to catch out these people.
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