Adventure Ausrama Blog

A fall in house prices is a good thing for first home buyers, but it puts a squeeze on the rental market. With lower property values investors invest in other things, the bank or the share market. You would think that rents would move up and down with the price of housing, believing that monthly rents are tied to monthly mortgage repayments. This is a generality that is not always true. The reality is that as house prices fall, rents go up as investment to built more rental properties declines. In Canberra rents increased by 2.2 per cent last year. Perth continues to experience a drain of money to mining areas from Perth city itself. Consequently, new rental properties have not been built and rents have also increased. Those on low incomes who do not earn enough to get a mortgage are at the mercy of the rental market. As rents rise they have to pay more. Furthermore, students from poor families cannot afford to pay high rents. Despite the mining boom in Australia, many a...

Some people are extremely arrogant. In the present economic downturn it is not the poor who believe that the world owes them a living. Like many banks who continue to pay their executives high salaries despite accepting money from government, some wealthy people expect to live the high life at someone else's expense. Karin Upton Baker (her double barrelled name should give her away for a start) expects companies she has borrowed money from to leave her alone and let her live well despite owing them $18 million. In court she is saying that the claim against her is "unjust". She says that she did not read the contracts. Furthermore, she lied to financiers telling them that she had taken legal advice before signing the documents. Assuming that companies will leave her with the five apartments, living in them and collecting rent, is a bit much when you consider she hasn't paid any moneys back since July last year. Despite earning $7,000 a week she claims she cannot to af...