Finally, someone telling it as it is....

[nstg8a]

Originally Posted by BHDOGS

It's such a simple thing isn't it work more and u can buy one don't have kids and u can afford one never see ur family except at night and ur golden there a lot of people who make it sound easier then it really is to put things into perspective the home I grew up in was worth 50 grand it's now worth 450.000 that's only in 29 years or one mortgage my missus parents are always telling me to buy a house diffence is he earnt what I do now and paid 55000 for his house it's now worth 400.000 if I could buy a house for 50gs I would the fact is wages are dropping houses are going through the roof and there's thousands of less jobs around to work at full time anymore the fact the gov wants to make u wait 6 months for centerlink shows how out of touch they are with reality

Me and the missus made that conscious decision to not have kids, there's no way we could afford to have a mortgage and raise kids, and combined we earn reasonable money.

[danzvtil]

Originally Posted by BHDOGS

It's such a simple thing isn't it work more and u can buy one don't have kids and u can afford one never see ur family except at night and ur golden there a lot of people who make it sound easier then it really is to put things into perspective the home I grew up in was worth 50 grand it's now worth 450.000 that's only in 29 years or one mortgage my missus parents are always telling me to buy a house diffence is he earnt what I do now and paid 55000 for his house it's now worth 400.000 if I could buy a house for 50gs I would the fact is wages are dropping houses are going through the roof and there's thousands of less jobs around to work at full time anymore the fact the gov wants to make u wait 6 months for centerlink shows how out of touch they are with reality

As a country we are going broke if we continue on the welfare path we are on. 6 months wait for benefits is a tough gig, but the alternative is NO welfare at all when there is no money left, that's a debt I never want my daughter or grandkids to pay.

[Feathers]

I've often had people who know my family situation tell me that I should get Dad to help me buy a place, or move into a property that he owns (rent-free), rather than stay at home and save money to do those things for myself.

I flat out refuse. He worked for what he has, and I should do the same. I have no problem with that.

Most of my "friends" moved out and bought places with either a sibling or partner, and as I have neither of those, I'm a bit stuck there.
My only option currently, is to buy a tiny flat in whoop-whoop and rent it out to pay it off, while staying at home.

Sadly, more of those "friends" would want to whine about how "pathetic" that is, than realise it's the right thing to do, and look at the long term picture.

[BHDOGS]

Originally Posted by danzvtil

As a country we are going broke if we continue on the welfare path we are on. 6 months wait for benefits is a tough gig, but the alternative is NO welfare at all when there is no money left, that's a debt I never want my daughter or grandkids to pay.

When u can't feed ur kids or afford ur Morgage or your rent and are living on the street the future generation really doesn't matter at that point the fact is there's plenty of ways to save that money but the gov won't do it negative gearing slashing public servants are there entitlements not to mention the rich old people who get gov benefits are all better places to start then punishing the poor but that is what liberals do best.

[ebxr8240]

Same story for 35 years . What has increased is traveling to work! In the past you could buy in suburbs .. Cheap little car to drive to work. It's not that cheap anymore..

[Nova 8]

Originally Posted by Brendo_GSUte

I reckon no more than 5 properties per person in Aus and no one should earn over 1 million per year.

rant over

I missed this post and wow, just wow.

This arguement always amazes me, people say this crap but then have no solution for the endless amounts of issues it causes.

1) where does all that excess money go, to govco or across the board to everyone in the country, if so why would people at the bottom even work. They'll get both the dole and their ill gotten gains.

2) what do you do to encourage a company to grow, once some guy is earning 1mil why would he continue to employ more people and tighten the noose around his neck if something goes wrong. This will stop growth in its tracks.

3) some guy worked hard and made an profitable business employing 1000s. He earns 1mil a year from said business. He is in his late 50s with about 30yrs left, in said time he WILL earn 30mil. He gets told if he guts his business and fires everyone he can retire now with >30mil. Why continue with the company for less money?


We live in the age of entitlement, it's terrible. I'm for welfare but too many on it expect it, abuse it and expect those better off to support, accept and even suffer for them. Don't like your circumstance, change them, make the first step today and you'll be a step closer tomorrow.

[xxx000]

Originally Posted by danzvtil

As a country we are going broke if we continue on the welfare path we are on. 6 months wait for benefits is a tough gig, but the alternative is NO welfare at all when there is no money left, that's a debt I never want my daughter or grandkids to pay.

That's a myth perpetrated by our current ruling party. Creating fear got them into govt

[ILLaViTaR]

The problem is you can't even get what's considered rich through honest hard work and labour. Only parasitic investment and claiming tax perks which is not motivational for anyone honest, and encouraging for those looking to make money while contributing absolutely nothing to society for it.

The thing that annoys me most about negative gearing.. it was always a bit of a rort (especially when compared to other nations) but the government needed it. What stole from my generation entirely was the 1999 50% CGT exemption there's a blatant correlation ever since that disgusting rort was implemented. Our grandfathers would be sick to their stomach if they knew the country they built with their own bare hands was being set up as a goldmine to re-purpose their grandkids as chinese debt slaves.

"Where else in the world can you get a 5%+ return with little risk and growth prospects." ******* vultures.

[ILLaViTaR]

Originally Posted by xxx000

That's a myth perpetrated by our current ruling party. Creating fear got them into govt

Agreed this article is over 5yrs old and before our current PM became opposition leader. http://www.theaustralian.com.au/opin...851fcb018f6a12

If anything is to blame it's that Howard/Costello handout frenzy, apparently we'd currently be in surplus if not for those 07 tax cuts (is what they're saying/top economical analysts).

But don't worry everyone that aside the oecd clearly shows our output dwarfs our debt so there's actual no need for concern. Carry on. We can all lynch Costello when we're actually doomed which isn't looking probable at all in the near future when you look at the most credible statistics.

[Franco Cozzo]

In the last 5 years I've bought 2 new cars, 2 used ones, one of which I chucked about $12K into and its not finished yet, all of that with coin I saved up through work, and I never worked overtime (except once or twice ONLY to help out my supervisor), I worked it out I spent roughly $70K just on cars not including the few thousand in mods on my daily + other stuff like parts/engines I collected.

You know what I'd do with all that money if I had the chance again?

Spend it on cars

You can look at whats going on now and get angry about being priced out of the market and become resentful or you can throw your hands up in the air and say **** it and don't worry about owning a house in the suburbs, look further out.

If I do the house thing I'll be going out further rural, theres reasonably priced land out 30 minutes on the other side of Bendigo here in Victoria and Bendigo has a good rail link to Melbourne.

Also happy 9000 posts to me.

[Nova 8]

Originally Posted by ILLaViTaR

The problem is you can't even get what's considered rich through honest hard work and labour. Only parasitic investment and claiming tax perks which is not motivational for anyone honest, and encouraging for those looking to make money while contributing absolutely nothing to society for it.

Not every rich person is dishonest, my parents are approaching to 2million mark in property with only about 700k in debt. My mum is a nurse and my dad a boilermaker, both extremely honest and hard working just made smart choices with their money. Choices they learned to make by making poorer choices earlier in life. I've told them to consault someone on how to save money through tax but they haven't, truthfully those who complain about people getting tax breaks would do the same in the same position. And why not, you worked to get there take advantages of the perks.

A friend of mine is in the military, has been since he was 20, he has served this country in the middle east and continues serve elsewhere now. He also owns >20 houses/apartments and last I saw him was happy as he had just become debt free. When we were all 18 and started working and got loans to buy nice cars he was driving a ******* and wouldn't go out and blow money. He started working at 15 and saved as much as he could. When we left school he became a manager at McDonald's and bought his first house with a fairly sizeable deposit. He was smart and worked hard for his money, now rich why should the poor be able to cheapen his efforts or if like posted above, tax them and his houses.

It's easy to sit back and complain about those who are better off, it's hard to pull your finger out and make a go of it. I know, I'm currently trying, the hours are a killer but a bit of misery now can have me setup in years to come. That's a major issue I see all the time with a lot of the have nots, they want everything and don't want to work hard for it, they want to be "happy" and can't put up with a little misery along the way.

[tut0r]

Originally Posted by Big Damo

Also happy 9000 posts to me.

Yay congrats!!!

On another note I always notice a similar trend between people, those who don't have money or struggle complaining about those who have plenty.

Those who have plenty of money complaining that people need to work harder.

At the end of the day everyone in this country has a part in housing prices, long work hours etc.....We are part of the 'we want everything now' generation with not a huge insight into the future, we all want our big TVs, Cars, and gadgets. Problem is we all want these items at the drop of a hat, this in turn means we have more business's being open 7days which in turn means more people need to work weekends to meet demands.

We all want to be able to do our grocery shopping when we want, so our supermarkets in the city are usually open until midnight every night. Can you imagine how much everything would slow down if nothing was open on the weekends or after hours? So many people complain about immigrants coming into this country and that they're taking our jobs making it harder for the 'traditional Aussie'.

I doubt there are less than 10% of 'traditional Aussie's' who want to work the graveyard shift at the local 7/11 or petrol station for minimum wage. Its great that we always strive for more but I see people everyday constantly stressing over the future and not just enjoying the present.

As my father said, there is a difference between avoiding tax and evading tax....Avoiding is legal.

[Franco Cozzo]

Originally Posted by tut0r

this in turn means we have more business's being open 7days which in turn means more people need to work weekends to meet demands.

We all want to be able to do our grocery shopping when we want, so our supermarkets in the city are usually open until midnight every night. Can you imagine how much everything would slow down if nothing was open on the weekends or after hours?

For some reason banks seems to be exempt from this, its BS. When I was working full time the only chance I had to get down to the local branch to do anything was on Friday arvo when I finished early, if it wasn't for that early finish I wouldn't be able to use them for anything.

Not that I needed to use the branch for much but when I did it seemed like it was always closed

[Nova 8]

Originally Posted by tut0r

On another note I always notice a similar trend between people, those who don't have money or struggle complaining about those who have plenty.

Those who have plenty of money complaining that people need to work harder

3rd option, those who don't have money but realise complaining achieves nothing and that they need to work harder to get ahead. This is the bracket I fall into, currently I have no house but no debt as I struggled and went without to get it all paid off, now I'm saving and waiting.

Originally Posted by tut0r

As my father said, there is a difference between avoiding tax and evading tax....Avoiding is legal.

Love this, epic saying.

[nuthin' fancy]

Originally Posted by zilo

I love this current property market...

we have picked up some serious good bargains in the last 8 months

thank goodness all the market distorting 1st home buyers crap is gone.

Now we just need to get rid of the market distorting negative gearing crap.......


First Home Buyers need to mix concrete and milk. Plenty of homes here in Geelong under $250k. Move in, pay off extra, create equity (capital increase a bonus), take the next step in 3-5 years to get into what you want.

Back to the 1950's I say, ignore female wages, Government legislated 110m2 max building size, 1/4 acre blocks. Bliss

[mik]

Originally Posted by buggerlugs

Spot on. Would it be thou that our parents while owning property have seen the biggest growth in their asset's maybe ?

probably some truth in that, but at the same time working long hours and weekends just seemed to be the norm from my generation, 12 hours a day 6 or 7 days a week of some of the hardest jobs you can imagine, more than one job, none of this OHS bull**** , probably why im an old cripple now .

[GASWAGON]

Investment money from rich Chinese is'nt helping the rising prices problem either. The numbers are now 1 in 7 Chinese are VERY interested in spending there money outside of China and mainly investing in U.S and OZ property.

It has also been said that alot of this investment money has been made corruptly in China.

Wot can we do if the government are allowing this type of investment money into the country all the while forcing the locals out of the market???

[onfire]

To throw a different spin on this topic;

Maybe it's been far too easy to obtain a mortgage over the past 6 or 7 years and now for a lot of young home owners, reality is hitting home. And the days of easy home loans are over.

It felt, for a long time there was a massive push to get potential first home buyers into their own properties regardless of wealth, assets, savings, income or potential income.

Currently there is a push in my local area to get low-income earners (sub $40,000 single income) into new homes. At $40K a year, that's $769 a week. That's below the $700 mark after tax. Most of these homes in development sit around the $275,000 number, even if they knocked off $20k with a deposit, with a 4.74% Aussie Home Loan that's a $306 weekly repayment allowing approx. $375 to cover weekly expenses, fuel, food, bills, etc. Not exactly a lot of room to wiggle, build wealth or savings, if anything strict budgeting will allow the owner to keep his/her families heads above water.

6 years ago I was a single man and despite having a decent deposit in comparison to the property I was buying, I felt like I was ran through the wringer having to justify this and that, etc. to the financial institution I was borrowing from, and more importantly had to prove I had saved the deposit.

In the few years that followed, I witnessed friends and colleagues walk into banks, with deposits 1/10th that amount, or money from their parents and sign away on mortgages twice the size (often with interest rates twice as high) that same day to purchase mostly excessive homes then obtain personal finance to furnish these new homes and of course finance on cars.

Fast forward 5 odd years, despite being in similar positions in terms of income, I was personally sitting on approx. $75k in savings in February of this year, while it may not be a huge amount so some, many colleagues were struggling to keep their heads above water due to loan repayments.

In the last 18 months, my now partner and I have spent approx. $25k on overseas travel, while personally I've purchased 3 cars in 5 years with cash. We currently have 3 cars in the drive way, with me breaking up my time between a brand new daily car and my XR8.

While this isn't about comparing choices or priorities, it shows the difference in available cash & wealth than can be amassed with living within your means, a manageable mortgage and making the simply decisions not to over finance or simply try to keep up with the Joneses.

[Adamz Ghia]

Is it harder to buy, or have peoples expectations got more expensive...? There's plenty of cheaper houses around that if you gave them a little TLC would scrub up nicely. You could also build a basic house just to get your foot in the door. But no they have to have the biggest and best right now...

[GREGL]

Originally Posted by Big Damo

For some reason banks seems to be exempt from this, its BS. When I was working full time the only chance I had to get down to the local branch to do anything was on Friday arvo when I finished early, if it wasn't for that early finish I wouldn't be able to use them for anything.

Not that I needed to use the branch for much but when I did it seemed like it was always closed

Ever heard of an ATM , or internet banking . Geez this is a perfect example of the I need it NOW generation , I don't really feel like paying even more in fees and charges just because you want a woolies bank .
It wasn't till the 80's that you could get money out after 5 pm on a Friday , in the 70,s if you wanted fuel a majority of servos used to shut up shop at 12 Saturday , after that you lived on what you had in your pocket/tank . To top it off you had to use a payphone to ring your mates/nrma to bring the jerry.
Now to all you young 'uns you got nothing to whinge about unless your phones out of credit .

[nstg8a]

Originally Posted by GREGL

Ever heard of an ATM , or internet banking . Geez this is a perfect example of the I need it NOW generation , I don't really feel like paying even more in fees and charges just because you want a woolies bank .
It wasn't till the 80's that you could get money out after 5 pm on a Friday , in the 70,s if you wanted fuel a majority of servos used to shut up shop at 12 Saturday , after that you lived on what you had in your pocket/tank . To top it off you had to use a payphone to ring your mates/nrma to bring the jerry.
Now to all you young 'uns you got nothing to whinge about unless your phones out of credit .

What if he wants to do some,thing other than withdraw money? You know, maybe go see about a house loan, sort out his super etc.

Enough of this 'back in my day' dribble. It's not 1953 anymore.

[Work Horse]

Originally Posted by GREGL

Ever heard of an ATM , or internet banking . Geez this is a perfect example of the I need it NOW generation , I don't really feel like paying even more in fees and charges just because you want a woolies bank .
It wasn't till the 80's that you could get money out after 5 pm on a Friday , in the 70,s if you wanted fuel a majority of servos used to shut up shop at 12 Saturday , after that you lived on what you had in your pocket/tank . To top it off you had to use a payphone to ring your mates/nrma to bring the jerry.

Luxury!!!
https://www.youtube.com/watch?v=Xe1a1wHxTyo

[tut0r]

Its true, its hard for us to live in the present, we will always say 'back in my day' hell I'm 26 and say back when I was a kid blah blah blah we were outside more. When I started school mobile phones weren't really around, car phones yes but the first phone I remember my parents having was a analog brick that made one call before the battery died.

We have to learn to adapt to our surroundings as we are growing exponentially faster technologically, hell soon we'll probably never have to leave our houses and turn into a world like the movie 'Surrogates'.

[Franco Cozzo]

Originally Posted by GREGL

Ever heard of an ATM , or internet banking . Geez this is a perfect example of the I need it NOW generation , I don't really feel like paying even more in fees and charges just because you want a woolies bank .
It wasn't till the 80's that you could get money out after 5 pm on a Friday , in the 70,s if you wanted fuel a majority of servos used to shut up shop at 12 Saturday , after that you lived on what you had in your pocket/tank . To top it off you had to use a payphone to ring your mates/nrma to bring the jerry.
Now to all you young 'uns you got nothing to whinge about unless your phones out of credit .

I can't put $$$ in an ATM, it only spits it out

But every time I go into the branch and they pull up my details the lady behind the counter keeps trying to enslave me for 25 years.

Internet banking is awesome, but I was saving more money back in 2010 on $7.05/hour without the internet banking than in 2014 when I was getting $19.23/hour with the internet banking, I've just got a driveway with multiple cars and a garage filled full of parts for one of them thanks to internet banking

Originally Posted by tut0r

hell I'm 26 and say back when I was a kid blah blah blah we were outside more.

Also unfortunately between that period I picked up a social life somewhere along the line which costs $$$ to maintain, staying at home and playing video games all the time was much cheaper

[buggerlugs]

Wow, nearly 2 pages of comments, all grown up one's to, all constructive, no mods needed, no fights. Wow, just wow.........................

[ILLaViTaR]

Originally Posted by Nova 8

Not every rich person is dishonest, my parents are approaching to 2million mark in property with only about 700k in debt. My mum is a nurse and my dad a boilermaker, both extremely honest and hard working just made smart choices with their money. Choices they learned to make by making poorer choices earlier in life. I've told them to consault someone on how to save money through tax but they haven't, truthfully those who complain about people getting tax breaks would do the same in the same position. And why not, you worked to get there take advantages of the perks.

A friend of mine is in the military, has been since he was 20, he has served this country in the middle east and continues serve elsewhere now. He also owns >20 houses/apartments and last I saw him was happy as he had just become debt free. When we were all 18 and started working and got loans to buy nice cars he was driving a ******* and wouldn't go out and blow money. He started working at 15 and saved as much as he could. When we left school he became a manager at McDonald's and bought his first house with a fairly sizeable deposit. He was smart and worked hard for his money, now rich why should the poor be able to cheapen his efforts or if like posted above, tax them and his houses.

It's easy to sit back and complain about those who are better off, it's hard to pull your finger out and make a go of it. I know, I'm currently trying, the hours are a killer but a bit of misery now can have me setup in years to come. That's a major issue I see all the time with a lot of the have nots, they want everything and don't want to work hard for it, they want to be "happy" and can't put up with a little misery along the way.

Honest answer? 2 million (1.4m in equity) is hardly considered rich. Your parents would be lucky to get a townhouse in brighton after a lifetime of painstaking hard work. And I would say they would be hard done by to get any less, but then again remember a lot of people actually are.

Your soldier friend is the exact problem with our society, some people are full of themselves and feel if they give a dime they deserve a million back and that's this guy. There are people who were on the front line now currently in wheelchairs with 3 amputated limbs on welfare too incompetent to fight for cover and incapable of holding a full time job earning no more than 30k p.a. on benefits forced to rent their entire lives in a hole because this self entitled ******** has inflated house prices out of their reach.

Honestly I hope he goes back into service on the frontline so he can stop making a mockery of the system happily prepared for the bank to pay it all back and collapse the economy if his 95% LVI's go south because that's ok he's served his country he's allowed to put the debt on our shoulders if his little game goes south :O

People like that make a mockery of good hard working people like your parents I'm sorry your soldier friend reminds me of that Chinese lady on ACA who had 65 investment propertys (with 10mil debt 99.9999% LVI). I wonder if David Hicks "got the portfolio he deserved"?

[ILLaViTaR]

I'm also a firm believer of capping wealth. Let's just say a general 5 million for arguments sake (as that for example wouldn't be near enough for the mining industry..)

It's ridiculous to assume these companies will lose enough motivation to have a sook and pack up.. they really think welfare is better than sitting in the leather studded armchair of a 5 million dollar industry? They're saying they would rather be derogated and dragged into centrelink appointments every week??

I say call their bluff. And it's bad for capitalism, it's good for industries to grow but not to grow too big, it then becomes a problem. They get ridiculously big and hold too much power to independently alter the cost of living for all of society.

It could be done, a 3-5 billion mining cap would force that fat mole to invest in completely different industries where she'll be forced to compete in BOTH, meaning we'd have more mining competitors and more competitors in her new industry and so on. It would be better for everyone and she's still making an incredible amount of money.. Problem is she doesn't want to do it all again she wants to gain power so she can regulate her own industry to her own benefit at the expense of literally millions of others. This level of power results in that authority INHIBITING competition and ultimately using that level of power to rort society. We've been rorted by the oil companies ever since the iraq war. now it's Coles/Woolworths turn and we pay more to Gina for our power bills than any other nation in the world (of course we do..am I proving my point?) These multi billion dollar companies are not good lol if anything evil.. if there were more industries earning less as opposed to less industries earning more (which is what we currently have) then prices would be fair and there'd be more productivity from being forced to genuinely compete/bend over backwards to prove why your product is the best. Cap them and it's better for everyone.

[Giant Cranium]

^ sounds like communism.

[tut0r]

Originally Posted by buggerlugs

Wow, nearly 2 pages of comments, all grown up one's to, all constructive, no mods needed, no fights. Wow, just wow.........................

Back in my day, there was no such thing as Ford Forum fights, it was fisty cuffs...Bulley Bulley..

[ILLaViTaR]

I thought it sounded like capitalism but without all the corporatism