Home Ownership is a Fiction (Or a Con)
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Home Ownership is a Fiction (Or a Con)

Home ownership is the pinnacle of the Australian
Dream (or the American Dream, or the Scandinavian Dream, or theDream). It shows that you are prosperous. It’s a status symbol that separates the
middle class from the poor. But how much do we really own our own homes? Do we really “own” anything? In this video, I’ll give you three prevailing
reasons (and one possible future reason) why you don’t actually own your own home. The first one is fairly obvious — Mortgages. That is, people borrow money to purchase a
house and then proudly tell their friends and colleagues that they are now homeowners. Of course, they don’t actually own anything. What would happen if they started missing
their mortgage repayments due to unemployment or otherwise? They’d very quickly find out who the true
owners are. According to ASIC’s MoneySmart website,
these are the steps that a lender can take if you’re behind on your mortgage: Step 1 – The lender sends you a letter about
your missed mortgage repayment. Step 2 – The lender sends you a default
notice. Step 3 – The lender takes you to court. Step 4 – The lender applies for a court
order to enable them to take possession of your home. Step 5 – The lender sends you a letter telling
you to move out. And, if you don’t move out, Step 6 – The lender has you evicted from
your home. They’ll send a sheriff (or bailiff) to your
home to evict you. They’ll change the locks and sell your home. Yes, if you have a mortgage, you only “own”
your home as long as you’re able to continue paying back the bank on time. In my opinion, this is not ownership. It’s more like renting your home from the
bank, a bank that can take you to court whenever they need to. Reason number 2 — Council Rates (or Property
Taxes, depending on which part of the world you live in). Even if you have paid off your mortgage, or
bought your home outright, do you really own your home? What if you stopped paying your council rates? You’d very quickly find out who really owns
your home. According to the National Debt Helpline, in
times of financial hardship, a council is not obliged to waive your rates (even if you
make a waiver application). However, they should still try to give you
reasonable alternatives that will help you to overcome your financial hardship. But if you don’t come to an agreement, the
council can take legal action against you. They can start proceedings in the local or
magistrates court for the amount of the outstanding rates. Or, they can sell your property. Yes, even if you “own” your home outright,
you only “own” it for as long as you’re able or willing to pay the local council rates. If you don’t pay, “Bye-bye house!”. The third reason — Government Land Acquisition. Even if you own your home outright and pay
your rates and taxes like a good little citizen, the Government still have the authority to
seize your land. According to the Queensland Government’s
Land Acquisition and Resumption web page, all levels of government have the right to
acquire privately held land. This can be through negotiation with the landholder
or through a compulsory acquisition process known as ‘land resumption’. So who can “resume” land? According to the Acquisition of Land Act 1967,
‘constructing authorities’ can legally take your land for public purposes. These include, the Department of Natural Resources,
Mines and Energy, the Department of Transport and Main Roads, the Coordinator-General, electricity
companies such as Energex and Ergon Energy under the Electricity Act 1994, and local
governments. So basically, the Government can take your
land if it’s for a public purpose. There’s a whole process that goes along
with it, and you can make an objection, but ultimately, the Government have the final
say, “If the constructing authority believes
they still require the land, they may apply to the relevant minister for the land to be
taken. If the minister is satisfied that the proposed
resumption should proceed, they may refer the matter to the Executive Council to have
a taking of land notice published in the Queensland Government Gazette.” There is a compensation process that allows
you to get something back in return, but even through the Government are the one’s demanding
your land, you’re responsible for any outstanding government rates or taxes. No free rides! Anyway, the point is, if the Government is
determined to take your land, they’re going to take it, and the law will back them up. And I presume this is true for most countries. In Queensland, we shouldn’t be so surprised. I mean, it’s in our bloody name! Queen’s Land — The land owned by the Queen! So these reasons, Mortgages, Council Rates,
and Land Acquisition, are all concepts that affect us right now. But what if in the future, the Government
were to lose power? Just say due to some unforeseen cataclysmic
event the global economy collapses, governments fail, police no longer exist, and we end up
living in a world of anarchy. Who owns what in a post-apocalyptic world? This leads onto my fourth reason — Ownership
Doesn’t Exist. Without all these laws, and Government officials,
and police, ownership really doesn’t exist. It only exists insofar that I am willing to
defend my property. If we’re living in a world of anarchy and
lawlessness, what’s to say that a group of bandits won’t just come up to my house
and say, “Right cobber! This is our house now. Get out!”. If I’m not able, or not willing to defend
my property, then the concept of ownership goes out the window. With mortgages, council rates, land acquisition,
and the possibility of a post-apocalyptic future, we really don’t, and can’t own
our own home (at least, not in the true sense of the word). If for example, I own a pencil, can anybody
take that pencil away from me? Well, not legally unless I’m using it to
attack somebody. So why is that we can own a pencil, but we
can’t own our own house and land? I think there’s a single-word answer: Control
(and I’m not talking about the spy agency in the TV show Get Smart). If you own a pencil, it doesn’t hurt the
Government (well, not unless you use that pencil to write a book that attacks them politically). But if you own too much land, you’re a threat
to state power. Consequently, we have laws in place to prevent
any such private acquisition. Mortgages, government taxes, land acquisition
— Home ownership is a fiction.

13 thoughts on “Home Ownership is a Fiction (Or a Con)

  1. Northern Territory has no land tax but you still have to pay council rates so they get you there. If you look up the Principality of Hutt River in Western Australia it is actually a territory of land that actually technically doesn't belong to Australia and has been recognised by the Queen as a sovereign principality. Haven't heard of it..? They dont wont it publicized as it it is possible to create a Principality. Hutt River has its own currency and passports. Look up the story here. https://www.google.com/search?q=hutt+river+principality&biw=360&bih=520&liteui=2&sxsrf=ACYBGNSdcDq5H_HK4MHnzpWvow3w_TssPw:1570696571048&sa=X&ved=0ahUKEwjE16rZpJHlAhUX8HMBHUPuCyQQ_AUIBA

  2. What's the alternative of "renting from the bank"? Paying someone else's mortgage down so they eventually own the property outright?

  3. You have a very jaundiced view Sir!
    There is a reason why folks have, since time immemorial, striven to have the security of their own jurisdiction, their home.

  4. If owning a home is "the dream" then we don't dream very big. Shelter is right down the bottom of Maslow's hierarchy. By making shelter such an effort, we prevent people having a "deam" that is further up the ladder. If houses cost what they should, the "Australian dream" would be owning your own factory that makes androids, colonizing mars, or inventing time travel etc. not just having a place to live. Inflated house prices actually destroys human potential for greater things.

  5. **HERE IS SOMETHING EVERYONE MUST KNOW AND REALISE ***When banks lend money they ONLY CREATE a debt on paper…on the computer screen..This creation of money is then lent to you and you are charged interest on this invented?created money….{{{which is exactly why the Australian banks are in trouble and will FAIL }}} and if you renege on payment then they get the real money ""YOUR HOUSE || which is all illegal and corrupt ….Then there is Council rates….Councils are totally illegal under our constitution and all are *registered companies in America …As is the ""commonwealth of Australia..a registered corporation ..set up to circumvent our true and legal constitution by corrupt lawyers and Labor…****please search Wayne Glew and Senator Culleton for further information..To summarize ….Australia has been hijacked from the Australian people by crooked politicians and their lawyers ** seek out the truth***

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