WHAT ARE YOU DOING TODAY - WAYDT (PICS)
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My wife JUST text me “ hey let’s go to Ikea tonight and get that bookshelf for the babies room.”
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I went down to the Melbourne suburb of McKinnon today to take a look at an Art Deco cottage that's being sold as a renovation project. I'm not really in the market, but was curious to see what it was.
People are arguing whether there's a property bubble Down Under. Obviously prices are sensible. This is the sort of luxury kitchen you'll find in a $1.1 million house. (£630K, $890K US, €715K.)
And this is the master suite, sorry, bedroom. What, you want more than one bedroom? You're being an unrealistic snowflake!
The agent explained it was being sold as "land value only". He recommended demolition, and then spending circa $400K on a replacement, which would be worth $1.5 million.
So, land value only means all the profits go to the current owner, and the new one takes all the risk for no return? I think that I'll pass.
If you want something bigger, or in better condition, you'll have to pay more. This is a Sixties Brutalist house just north of Melbourne's CBD. It was designed by the architect David Saunders as his own residence, and is currently on the market for $2 million.
It's a cool place. Needs some work, I noticed some cracks in the brickwork. But way more than I can afford.
Since people are bankrupted by housing, they can only afford tatty cars, like this Rover P4. I spotted it round the corner from the Parkville house.
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I love the listings description of the house and would have to say it’s fairly accurate.
‘‘Be blown away by the potential of this 1930s Art Deco freestanding home with side and rear lane access on 373sqm approx.
Untouched since new, the home is full of character yet lends itself to being a new home or potential development site (STCA) with its laneway position.”
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@der Anschiss I think that the bubble is being driven by a number of factors:
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Property investment is a big thing due to negative gearing (investors can write off rental losses against general, taxable income), and favourable treatment of capital gains. Last year, over 50% of mortgage lending was to landlords.
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There's been easy credit for a long time. Effectively the banks were allowed to say their lending was safe, rather than being regulated. Plus funding is often derived from overseas, which means there's more money than if it was tied to the locals' savings.
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A lot of money has flowed into Australian property from abroad, particularly China. Something like 20% of all newbuilds are sold to foreign investors in Sydney and Melbourne.
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Immigration is running high, so there's a demand for property.
Melbourne is crazy, by @Snowy will confirm that Sydney is completely insane.
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There's a theory going around that we're in the Everything Bubble. Normally, only one asset class gets inflated, but this time it's all of them.
I think that's what happened is that quantitative easing and low interest rates have driven up the prices of everything from houses to vintage cars, as investors have sought yields.
At some point it'll unwind, and it'll be messy.
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I'm a noob so I have no clue about that , I will look at them and post the cut later today, they fit perfect at the top , tight on the thighs and nice and relax at the bottom for the boots :).I was also very impressed with the heavy duty denim thickness, very well made stitching , made to last, explains the price tag. Great quality.
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Sounds good @rio take a look at the tag and the numbers there will
Tell you what cut you have. Interested in knowing myself. -
Laundry day…
Every 2-3 months, I get the urge... So, I take the things that really NEED washing (Typically, my heavier shirts) and throw in some things that may not "need" it, but have been worn a couple/few times... Keeps everything fresh, and I also just LOVE how machine washed and dried clothes feel on my skin
*The pieces in the bottom pic get washed weekly or bi-weekly
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Bobble head night
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Relaxing in my norwegian onesie, wearing my favorite chup socks (at least norwegian coloured) and listening to kvelertak. Cant wait to see them again in may. So norway is treating my good while its snowing outside.
