u/endlass_imo

Keen to hear your unvarnished reviews of Perisher over the next couple of days as I'm thinking of a trip up there.

When I learned to drive I was in my Dad's manual 89 Suzuki Swift (badged as a Holden Barina). Didn't take me long to learn that that was a real diamond in the rough. Could pull burnouts in 2nd in stock form..

What I'm looking for is a real overlooked beauty in the modern era. You'd look at it and make sounds with your lips like pfffffffff but they go real well.

Optimizing for reliability, performance, no need for looks or flair. Manual wagon preferred.

I've been looking at the Volvo 850R, or v70R.. but they're showing their age nowadays. I want to fly around corners and have decent acceleration.

What are your best picks? Doesn't matter if it's a Merc or a Mahindra.. keen to hear.

No offense to boomers.

So the govt wants people to get into homes and has made property less investor friendly.

And in five years, maybe less, once all the FHBers have got themselves into apartments or small places, they will want to upsize, get a dog, start a family.

They may have to sell and pay 30% minimum rate on the capital gains. They could rent it out and get negative gearing if it's applicable but that depends on income and interest rates. Most starter apartments in a capital city would be close to neutrally geared in the same year as the sale.

What will happen politically? This new class of home owner will expect a reasonable rate of return at the sale and be heavily taxed or hold an asset that has not grown, or declined, in value if demand stays as it is now.

These new FHBers will demand tax breaks and benefits from the government, just like the boomers were given. Not to mention anyone who bought into residential property in the past 5 years, who may now hold negative equity.

It's a political minefield, I expect things to change again soon, once the impact sets in.

I see For Sale and Auction boards out the front of properties all over my area, and at the same time we are seeing news and announcements about major selloffs due to new tax changes to CGT and Negative Gearing. Last weekend's auction results showed a huge decrease in sold price for houses in my area, apartments were steady. How much of the price decreases are due to the current wave of selling, and how much is due to a real look at the future of the property market?

Sure, the changes to tax would make some people sell up, but once the bulk of IPs are sold to owner occupiers, what's the chance the market will stabilise? What are we predicting will be the new price levels of housing/apartments?