Sydney Real Estate Rip off

Submitted by Anonymous (not verified) on Sun, 22/05/2011 - 11:32am

My parents paid $10 000 dollars for their house in Sydney, now the same or similar house in the same area costs a minimum of $1,000,000. This is known as the Real Estate Rip Off.

In a fair & equitable communist like world their is always zero inflation & this means that if I want to buy a house in the same area as my parents house I should be able to spend the same amount of money as my parents did, meaning I should only pay $10 000 for a house.

The corrupt gang like collusion between police, government, real estate & the medical industry knows no bounds & some thing should be done very soon to put a stop to the corruption.

Geography: 
Sydney
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Comments

Submitted by Anonymous (not verified) on Wed, 25/05/2011 - 12:13pm

Yes there'sa Sydney Real estate Rip off and see Run Property and what they are corruptly doing, shame slum lord behaviors.
There's also Housing NSW ripping the tenants off with invasions and crass mistreatments being exposed.
Private and public rents in Sydney are a total ripoff and one the people are now seeing for what they are.
Greed and Corruption.

Submitted by Martin (not verified) on Fri, 27/05/2011 - 3:17pm

Your parents paid $10,000 for their house did they ?If they took out a home loan how much did they really pay?If wages did not increase over that time you would expect to pay the same.Will your Parents sell me their house for $10,000?or are they corrupt too.

You are off your head grow a brain.

Submitted by Anonymous (not verified) on Thu, 02/06/2011 - 12:12pm

Depends what work you do, if you know a few computer tricks you can earn alot of money by ripping people off, or if you do manual labour wages have not gone up at all.

Submitted by Anonymous (not verified) on Fri, 10/06/2011 - 10:44pm

In the time between your parents bought the house and when you want to buy a house the area might have changed. Some suburbs become more attractive and there is limited land so prices must rise. That doesn't justify the rip off prices and why landlords get to pocket value that is created by the community.

A simple solution is the land value tax (some argue that it's not a tax.) Buildings are created by labour so labour should be compensated for the building. The same cannot be said for the unimproved land value. This is created by nature and the community. Land value taxes only tax the unimproved value so landlords cannot steal from the community any value they create. Henry George is the main thinker behind land value taxes.