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it struck me as rather interesting as I watched that and thought about what PJ istrying to get people into.
If that woman can not afford her mortgage at rates down around 4 to 5% then she obviously won't be able to afford rent at a yield of 10% so who will rent those homes?
And what kind of home will she move into that is affordable for her?
Thinking out loud here though.... they did say the price had dropped to 130k on hers. hmmmm
If only I had lots of money - instead of land banking you could house bank. At some stage they must be worth a lot more you would think. With all these houses around building must have stopped.
That's really amazing actually, thinking of all the planning, consents, management, sewerage, water, stormwater, phone connections, earthworks, foundations, electrical, plumbing, full 230m2 house construction right down to painting & plastering + landscaping.
Maybe our local councils can take note.
Or on the other hand, maybe we can take note not to create an oversupply, especially in new greenfield areas an hour+ drive from the city.
That's really amazing actually, thinking of all the planning, consents, management, sewerage, water, stormwater, phone connections, earthworks, foundations, electrical, plumbing, full 230m2 house construction right down to painting & plastering + landscaping.
Maybe our local councils can take note.
Or on the other hand, maybe we can take note not to create an oversupply, especially in new greenfield areas an hour+ drive from the city.
$95k wouldn't buy you the piece of dirt - even in US$
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