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#2311 | ||
FF.Com.Au Hardcore
Join Date: Sep 2014
Location: A.C.T
Posts: 1,569
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Err, no.A lot of businesses fail(fact).
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2022 Honda HRV e:HEV in Premium crystal red. |
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#2312 | ||
BANNED
Join Date: Jul 2012
Posts: 2,886
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Please press the "Like" button if you enjoy my posts. (It's the red triangle with exclamation mark on the left) Last edited by GasoLane; 09-02-2023 at 09:26 AM. |
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#2313 | ||
FF.Com.Au Hardcore
Join Date: Sep 2014
Location: A.C.T
Posts: 1,569
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Pretty spot on.
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#2314 | ||
FF.Com.Au Hardcore
Join Date: Feb 2005
Posts: 5,047
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I don't know who to believe less.... Zilo and his $500k-earning kids renting, or the dude with the 6 second Aurion....
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#2315 | ||
FF.Com.Au Hardcore
Join Date: Sep 2014
Location: A.C.T
Posts: 1,569
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Well said! Touché!
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#2316 | |||
FF.Com.Au Hardcore
Join Date: Aug 2008
Location: Fear & loathing in Shoal Vegas
Posts: 1,783
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Quote:
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Mercury Silver 03 BA GT-P Tremec TR3650 Number 534 Herrod 4 into ones, Manta Exhaust, CAI, K&N Filter, Mellings oil pump, 19" FPV alloys, Bilsteins, Kings, tuned by Autotech, 272rwkw ![]() RIP Fish 15/1/73 - 9/2/19
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#2317 | ||
FF.Com.Au Hardcore
Join Date: Sep 2014
Location: A.C.T
Posts: 1,569
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Of course you do.
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#2318 | ||
WT GT
![]() Join Date: Jan 2006
Location: The GSS
Posts: 17,759
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#2319 | ||
Kicking back
Join Date: Dec 2013
Location: Western sydney
Posts: 8,529
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Sort of relivent. A few years back at smoko one bloke was rattling on about never being able to get into the housing market. A few others agreed. I chimed in by saying i have a mortgage and a house. We were all on similar wages. So old mate who started this conversation, his answer was yeah.... but... then gave up. My response to him was he could save a lot if he got off the bags, followed up by if he got a girlfriend it would free up a lot of cash vs the 3 times a week he would pay for prostitutes.
So it was a case of easy to complain, yet do nothing towards the end goal. |
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#2320 | |||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,891
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Quote:
Raised a fair point. Saving on an average income won't get you far these days, so you gotta earn. Stock market, earn as you save.
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~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button. ![]() |
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#2321 | ||
FF.Com.Au Hardcore
Join Date: Apr 2005
Location: Canberra
Posts: 13,374
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Well mine is going up the full rate no suprise. I'm now at 5.77 after 2.06 discount. I'm holding on to variable because I think they may overcook this ****, too late to fix and have heaps of buffer.
The good news is I checked out my super balance. With that and my cash in bank - my outstanding mortgage, I'm about 13k ahead ![]() |
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#2322 | ||
Rob
Join Date: Sep 2006
Location: Woodcroft S.A.
Posts: 21,508
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I'm 45. I don't pay attention to labels so don't know what generation that makes me but I think it is harder to buy a house now.
Each generation doesn't like to admit that the next generation has anything more difficult. It's just the human brain and how it works. 'back in my day...' anecdotes are alive and well, and even those complaining now about how it's harder than previous generations will likely still forget all that when the next generation grows up and claims they now have it harder.
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UA2 TREND 4WD BI TURBO |
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#2323 | ||
Experienced Member
Join Date: Sep 2006
Location: Australasia
Posts: 7,540
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Think you are correct, two incomes to sign up for mortgage then wife ceased work after 12 months leaving me to cover the repayments, these days I would say it takes two incomes to cover most mortgages.
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#2324 | ||
BLUE OVAL INC.
Join Date: Feb 2006
Posts: 8,645
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If my 2 eldest kids can do it on public school education and average employment by age 22 then no, it isnt hard at all.
Its all about starting small in a low cost area and using it as a stepping stone for the future not as a forever home. Both have built identical 2bdrm, 2.5bthrm town houses, my Son paid $223k in 2020, my Daughter paid $263k in 2022. |
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#2325 | ||
Rob
Join Date: Sep 2006
Location: Woodcroft S.A.
Posts: 21,508
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Anecdotes don't really prove anything though. No one is saying it isn't possible or that it was easy before.
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#2326 | |||
FF.Com.Au Hardcore
Join Date: Feb 2010
Location: Geelong
Posts: 1,717
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Quote:
These days, they have to buy land (note land, not the house) that is half the size (if not less) yet four times the price (adjusted for inflation) and 5 times further away from the centre of town on incomes that have not kept pace with housing values. To get what our parents had is not impossible but it’s definitely a lot harder. You can argue all you like, the numbers don’t lie. |
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#2327 | |||
FF.Com.Au Hardcore
Join Date: Feb 2005
Posts: 5,047
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Quote:
What a time to be alive... |
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#2328 | |||
BLUE OVAL INC.
Join Date: Feb 2006
Posts: 8,645
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Quote:
They might not be able to start off in a forever home as Adamz Ghia is mentioning but that doesnt mean its harder, just that the entry point is different. Id go as far as to say a 2bdrm, 2.5bth townhouse would be a better featured home than any average suburban forever home from the 60's or 70's, and who really wants a 1/4 acre block at 22. |
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#2329 | ||
FF.Com.Au Hardcore
Join Date: Feb 2010
Location: Geelong
Posts: 1,717
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In 20 years, the entry point is going to be a one bedroom box that includes the toilet, laundry, kitchen and bathroom in it, and Bent will be here telling us it’s easy to buy your own place.
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#2330 | |||
FF.Com.Au Hardcore
Join Date: Feb 2005
Posts: 5,047
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Quote:
Ergo, it's harder. |
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#2331 | |||
BLUE OVAL INC.
Join Date: Feb 2006
Posts: 8,645
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Quote:
My kids both bought using Homestart with lless than 5k deposit after FHOG and builder contribution. The interest is higher but the repayments per week dont change as per a normal bank loan, they just extend the repayment period from the base of 19yrs, but that can also shorten down the track if rates drop or they can refinance with another lender. Both my kids did it on $1k per week take home. |
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#2332 | ||
FF.Com.Au Hardcore
Join Date: Dec 2009
Posts: 3,465
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Those prices beginning with a two must be in regional South Australia.
You would not buy anything like that in S E Qld beginning with a two. Maybe beginning with a four. And I would think Sydney and Melb would begin with a five. |
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#2333 | ||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,891
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When I was looking for rental in London, I came across some pretty depressing scenes. The exterior would look nice and posh, but inside were basically a bunch of rooms with a bed and table. Table had a microwave on it, which had an electric plate on top, and that was your "cooking" area. Laundry, kitchen and bathroom were in a common area and shared with the other 20-30 bedsits in the building. You were looking to pay 100-200 quid a week for the privilege.
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~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button. ![]() |
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#2334 | |||
BLUE OVAL INC.
Join Date: Feb 2006
Posts: 8,645
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Quote:
Its a choice to live in the major east coast cities, people hang **** on us Adelaideans but when a 22yr old can build a comfortable home with the above services for under 300k, the savings will pay for plenty of cheap flights to the 'big smoke' where the action apparently is. |
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#2335 | ||
FF.Com.Au Hardcore
Join Date: Dec 2009
Posts: 3,465
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That’s awesome.
Saving or not paying an extra 200k to live in Bris Syd or Melb is a great set you up for life move. I quite liked Adelaide on my one visit got a lot going for it. |
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#2336 | ||
BLUE OVAL INC.
Join Date: Feb 2006
Posts: 8,645
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As I said, neither of them built them as forever homes but being 2 bed, 2.5bth, so each room has its own toilet, shower basin, built in robe, ceiling fan and ducted refrigerated reverse cycle A/C, plus one room has a 4mx3m balcony, when they decide to step up, and with 30 minute public transport to the city universities, they can rent the rooms to students for about $200pw and boost their borrowing power for something bigger locally or if they decide, move to the east coast and always have something to come back to.
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#2337 | ||
BLUE OVAL INC.
Join Date: Feb 2006
Posts: 8,645
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Many, many moons ago, late 2005 actually, just before I joined this forum, my Wife and I decided to sell up and move to the country.
Just prior to that my Cousin, who owned a civil construction company in the UK called Tamdown PTY LTD forewarned us of the impending GFC and had sold his company and much of his property portfolio before the **** hit the fan. As it turns out we dodged that bullet in Oz by wasting our budget surplus on flat screen TV's for dole bludgers and the like so we never got our property crash. At the time we'd realised a $105k profit on the house we'd owned for 4yrs and I just couldnt see any real further capital growth in that area. I clearly remember the comments at the time about the impending property crash and those who said it would never happen and history shows the latter were correct...until now. I copped criticism for selling up as apparently I'd have nothing to give my kids when they needed help getting into the market. My response to that criticism was to say If I raise them right, keep them grounded and teach them work ethic they wont need any handouts from me. They both started work at 14 and have worked their way up from fast food to working admin in National and multi National companies and now have their own homes by age 22. Tell me how I failed them. I'll admit I've burnt a lot of money renting in the past 17yrs but I also raised my kids in a brand new house that had I owned would have cost me $500k and id still have 8 yrs to go on the mortgage. We're currently building a townhouse too to the same spec as its all we need now with only our 11yr old left at home. They can divvy that up when we're pushin' daisies. |
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#2338 | ||
Rob
Join Date: Sep 2006
Location: Woodcroft S.A.
Posts: 21,508
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Yet still the percentage of income required is far more than previous generations when comparing apples with apples.
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#2339 | ||
FF.Com.Au Hardcore
Join Date: Feb 2005
Posts: 5,047
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Houses as a proportion of income have been rising since the 90s. Probably close to 3 times more as a proportion of income by now. Harder.
We havent had meaningful wage inflation for 20 years (the wage price index has been trending down for most of that period). If the prospect of wage growth to help you pay down a big mortgage is lower now than 20 years ago, it's harder. A thing can be possible while being harder than it was before. |
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#2340 | |||
BLUE OVAL INC.
Join Date: Feb 2006
Posts: 8,645
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Quote:
So is a bottle of Pepsi, couldn't believe it when I saw OTR selling 600ml Pepsi for $5.19, I remember using a bottle of Coke as an example many years ago when I asked if a bottle of Coke would ever really be worth $5, well in many places it is now and the reason they can charge that is the same reason people pay 40k for a 30k SUV, 70k for a 40k ute and $500k for a first home. Because a fool and their money are easily parted and they need to be on that list. For the best part of 2 decades I've been saying those who have built their wealth through property have just created a rod for the backs of our kids but I was criticised for stating the bloody obvious as no one wanted to admit it was their doing, not whilst they enjoyed the capital growth. Now all of a sudden its too hard, give me a break. I doubt any of the 'Its harder for my kids' people would slash 50% of their property value to solve the problem though. Your kids can either cry about how hard it is to buy a 500k house in the cool coastal suburbs down south or actually do some buying/building in the hot, busted **** north like mine have. Choices. |
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