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Post Options Post Options   Thanks (0) Thanks(0)   Quote Plastic letters Quote  Post ReplyReply Direct Link To This Post Posted: 21 Nov 2023 at 6:27pm
Originally posted by rusty nails rusty nails wrote:

After the 60’s pretty much everyone could get a foothold in the property market.

Today, young professionals earning $200k still can’t get in easily.
If you’re a copper or a nurse, you’re out of the market.
That’s never,ever been the case previously.

That’s the salient point.
I have shown time and time again here that a foot hold is achievable. Most don’t want a foot hold, they want it all
That was never the case. All my mates started with cheap apartments and a bit of help from parents. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Tlazolteotl Quote  Post ReplyReply Direct Link To This Post Posted: 21 Nov 2023 at 6:31pm
Which part of price doubled as a multiple of income in the last 23 years are you oldies not getting?Confused It's not like it was back in your day.
An honest politician is one who when he is bought will stay bought.

Simon Cameron

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Plastic letters Quote  Post ReplyReply Direct Link To This Post Posted: 21 Nov 2023 at 6:39pm
Oldies? Come in whipper snapper, how old are you and what do you own?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote marble Quote  Post ReplyReply Direct Link To This Post Posted: 21 Nov 2023 at 6:41pm
housing as an investment has ruined the great australian dream for most people. 
Young couples these days may be better off renting and investing in shares rather than paying a bank hundreds of thousands of dollars in interest over 30 years
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Plastic letters Quote  Post ReplyReply Direct Link To This Post Posted: 21 Nov 2023 at 6:44pm
Originally posted by marble marble wrote:

housing as an investment has ruined the great australian dream for most people. 
Young couples these days may be better off renting and investing in shares rather than paying a bank hundreds of thousands of dollars in interest over 30 years

I remember having that same discussion 20 years ago 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Fiddlesticks Quote  Post ReplyReply Direct Link To This Post Posted: 21 Nov 2023 at 6:48pm
Originally posted by Plastic letters Plastic letters wrote:

Originally posted by rusty nails rusty nails wrote:

After the 60’s pretty much everyone could get a foothold in the property market.

Today, young professionals earning $200k still can’t get in easily.
If you’re a copper or a nurse, you’re out of the market.
That’s never,ever been the case previously.

That’s the salient point.
I have shown time and time again here that a foot hold is achievable. Most don’t want a foot hold, they want it all
That was never the case. All my mates started with cheap apartments and a bit of help from parents. 

and people without parents alive ? or people who's parents didn't own property ? not all parents are alive or own stuff. My mum is on the pension and she's in her early 80's, what is she giving us ? 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote marble Quote  Post ReplyReply Direct Link To This Post Posted: 21 Nov 2023 at 6:52pm
Originally posted by Plastic letters Plastic letters wrote:

Originally posted by marble marble wrote:

housing as an investment has ruined the great australian dream for most people. 
Young couples these days may be better off renting and investing in shares rather than paying a bank hundreds of thousands of dollars in interest over 30 years

I remember having that same discussion 20 years ago 

I lived in london for a couple of years back in the 80's. Home ownership was impossible for most.
 You could buy a semi detached or a unit but not a house.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote rusty nails Quote  Post ReplyReply Direct Link To This Post Posted: 21 Nov 2023 at 7:03pm
Originally posted by Plastic letters Plastic letters wrote:

Originally posted by rusty nails rusty nails wrote:

After the 60’s pretty much everyone could get a foothold in the property market.

Today, young professionals earning $200k still can’t get in easily.
If you’re a copper or a nurse, you’re out of the market.
That’s never,ever been the case previously.

That’s the salient point.
I have shown time and time again here that a foot hold is achievable. Most don’t want a foot hold, they want it all
That was never the case. All my mates started with cheap apartments and a bit of help from parents. 
In a previous post you told us 2 teacher mates earning combined $240K can’t afford it….
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Plastic letters Quote  Post ReplyReply Direct Link To This Post Posted: 21 Nov 2023 at 7:10pm
Originally posted by rusty nails rusty nails wrote:

Originally posted by Plastic letters Plastic letters wrote:

Originally posted by rusty nails rusty nails wrote:

After the 60’s pretty much everyone could get a foothold in the property market.

Today, young professionals earning $200k still can’t get in easily.
If you’re a copper or a nurse, you’re out of the market.
That’s never,ever been the case previously.

That’s the salient point.
I have shown time and time again here that a foot hold is achievable. Most don’t want a foot hold, they want it all
That was never the case. All my mates started with cheap apartments and a bit of help from parents. 
In a previous post you told us 2 teacher mates earning combined $240K can’t afford it….

sorry, Yes. My error, I meant to attach a sarcastic icon. Like thisConfused
They certainty CAN afford it especially if they take the foothold approach. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote rusty nails Quote  Post ReplyReply Direct Link To This Post Posted: 21 Nov 2023 at 7:19pm
You clearly live in a different dimension, my bad for engaging with you.
I know better than that.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Plastic letters Quote  Post ReplyReply Direct Link To This Post Posted: 21 Nov 2023 at 7:23pm
Great response. 

Don’t bother engaging as you know I’m right
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Baghdad Bob Quote  Post ReplyReply Direct Link To This Post Posted: 21 Nov 2023 at 8:01pm
Voyager posted "The solution - Forget current homes and get the first home buyers into new homes. Offer no interest no deposit mortgages to first home buyers, and limit the prices of the houses ($450,000 to $720,00). These prices could be subsidised by the government, which already is being offered (in NSW the government will pay for 40% of a homes cost for eligible first home buyers. The government owns 40% of the home but this is a good way for first home buyers to get into the market)."

That sounds like socialism to me, the government to put up $280,000 towards every new home for first home buyer. UnhappySurely that $280,000 can only come from higher taxes. On the other hand if the first homebuyers sell up I have no trouble with that initial subsidy plus the capital gain been paid back to the government for its "co-ownership" with that first homebuyer.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Afros Quote  Post ReplyReply Direct Link To This Post Posted: 21 Nov 2023 at 9:10pm
Originally posted by Plastic letters Plastic letters wrote:

Great response. 

Don’t bother engaging as you know I’m right

To extrapolate on Tlaz's earlier comment, if you the median price for a house was $150k when the median income was $40k but now the median house price is $600k and the median income is $80k, which presents as a better position to get into the housing market?
The world needs more Man United relegations
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Afros Quote  Post ReplyReply Direct Link To This Post Posted: 21 Nov 2023 at 9:12pm
Originally posted by Baghdad Bob Baghdad Bob wrote:

Originally posted by Afros Afros wrote:

Bobby clearly has some investment properties, based on comments from him over a period of time here,

Bobby's opinions on the housing situation are driven by self interest, not the greater good.
I do have investment properties in suburban Melbourne, which along with my SMSF, provide me with a retirement income so that I do not rely on any government welfare, in fact, as I should, I pay income tax on my income from those investments. My concern today is helping out my sons to get into the property market, which without my help they would find it difficult. To buy an average 3 bedroom home inner better  suburbs of Melbourne will  set them back $ 2K +, so the only hope they have is a help from my wife and myself. Sure it is difficult for young people to get into the housing market, but like those
have gone before them , unless they get that bit of help, they could finish up as renters for life.

So you can acknowledge that circumstances have made it easier for you to be in the position you are in now than current circumstances make it for your own sons to even purchase their own home?
The world needs more Man United relegations
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Baghdad Bob Quote  Post ReplyReply Direct Link To This Post Posted: 21 Nov 2023 at 9:42pm
Having been born into a working-class family of 6 and if I had not the ability to calculate figures in my head on a racetrack, I very much doubt I would be giving my sons a kick along to purchase their homes.

I am grateful to have been in the right place at the right time.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Plastic letters Quote  Post ReplyReply Direct Link To This Post Posted: 21 Nov 2023 at 9:50pm
Originally posted by Afros Afros wrote:

Originally posted by Plastic letters Plastic letters wrote:

Great response. 

Don’t bother engaging as you know I’m right

To extrapolate on Tlaz's earlier comment, if you the median price for a house was $150k when the median income was $40k but now the median house price is $600k and the median income is $80k, which presents as a better position to get into the housing market?

No one has said that scenario is wrong. Or I certainly haven’t.  My comments have been around expectations. 

In the meantime, what’s the take home pay on 85k?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Carioca Quote  Post ReplyReply Direct Link To This Post Posted: 21 Nov 2023 at 10:49pm
Originally posted by Fiddlesticks Fiddlesticks wrote:

Originally posted by Plastic letters Plastic letters wrote:

Originally posted by rusty nails rusty nails wrote:

After the 60’s pretty much everyone could get a foothold in the property market.

Today, young professionals earning $200k still can’t get in easily.
If you’re a copper or a nurse, you’re out of the market.
That’s never,ever been the case previously.

That’s the salient point.
I have shown time and time again here that a foot hold is achievable. Most don’t want a foot hold, they want it all
That was never the case. All my mates started with cheap apartments and a bit of help from parents. 

and people without parents alive ? or people who's parents didn't own property ? not all parents are alive or own stuff. My mum is on the pension and she's in her early 80's, what is she giving us ? 
Your mother has already gave you what's needed , a life ! and lucky you , your sanity . Wink
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Fiddlesticks Quote  Post ReplyReply Direct Link To This Post Posted: 21 Nov 2023 at 10:58pm
That's not the point in relation to what PL said, it was about inheriting or getting a help along financially from your parents, nothing to do with being born or gratitude, but you knew that already. 
Panspermia.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Afros Quote  Post ReplyReply Direct Link To This Post Posted: 22 Nov 2023 at 9:12am
Originally posted by Plastic letters Plastic letters wrote:

Originally posted by Afros Afros wrote:

Originally posted by Plastic letters Plastic letters wrote:

Great response. 

Don’t bother engaging as you know I’m right

To extrapolate on Tlaz's earlier comment, if you the median price for a house was $150k when the median income was $40k but now the median house price is $600k and the median income is $80k, which presents as a better position to get into the housing market?

No one has said that scenario is wrong. Or I certainly haven’t.  My comments have been around expectations. 

In the meantime, what’s the take home pay on 85k?

It would be around $65k.

I get most of your points but did you not see where you contradicted yourself by commenting both that your friends with a combined household income of $240k cannot get a start, given that 4 in 5 Australians earn less than $100k they're both individually inside the top 20% of income earners in Australia.

You also commented that people need to just accept "getting a foothold" in the market.

So which is it? The situation is that shot that a couple comfortably ensconed inside the top 20% of household incomes cannot get a go in the market or people are just not accepting that they have to buy at the lower end of the market and work their way up?
The world needs more Man United relegations
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Fiddlesticks Quote  Post ReplyReply Direct Link To This Post Posted: 22 Nov 2023 at 10:14am
Average wage in Australia is between 90k and 110k from my understanding. Once tax and super is taken out its around 60 to 75k take home. 10 years ago this was ok, you would have had a little bit you could save and spend, now most of that wage is chewed up in bills. It's almost like companies have done the math on what people earn and calculated that we can all pay more for everything, anything people save or usually spend they want instead. If this keeps going, and we are forced to pay more and more for everything with nothing ever going down in price, we are going to see a surge of people on the street or people living in their cars at the beach and various car parks around the cities. This is how you start the formation of slums and shanties. 
Panspermia.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Fiddlesticks Quote  Post ReplyReply Direct Link To This Post Posted: 22 Nov 2023 at 10:18am
its already started in the US.


Panspermia.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote oneonesit Quote  Post ReplyReply Direct Link To This Post Posted: 22 Nov 2023 at 12:41pm
Refer ALP Election Promises
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Fiddlesticks Quote  Post ReplyReply Direct Link To This Post Posted: 22 Nov 2023 at 1:21pm
Originally posted by oneonesit oneonesit wrote:

https://www.macrobusiness.com.au/2023/11/how-australian-housing-became-a-honeypot-for-foreign-buyers/

When you read that is makes you feel like the Australian Gov either doesn't care about foreign investment in homes, or is getting money from it, or is a puppet gov for China-is under pressure from China to allow it otherwise > install whatever threat you want about grain, meat or wine shipping.  

Otherwise someone explain to me why Australia allows foreign investment in Australian homes ? When a lot of Asian countries for example, forbid us buying and owning property in their country.

As for the grab hag comments, nothing winds me up more than when I see this happen. I used to live next door to a loverly Maori island family, I lived with them next door for 16 yrs. They had banana and mango trees in their backyard, very very well established trees. Whenever the fruit appeared and was ready to pick it was like chaos in my rear laneway. I had to threaten to call the cops on these women so many times, they would climb onto my garage roof with ladders they brought with them, and fill up these brown sugar sacks they brought with them, full of fruit. They would climb onto my garage roof then jump across into the neighbours yard to steal the fruit. I used to get so fkn angry, they damaged the garage roof so badly it started to leak badly and ruin my tools and stuff I stored in there. Their thievery left a huge mess of leaves, with broken branches, broken fruit etc everywhere outside my garage door. You could warn them face to face and they wouldn't bat an eyelid, they simply didn't care what I had to say,  and would simply come back an hr later, getting a dog was great cause he would alert me constantly as they started coming in the nights more and more. 
Panspermia.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Plastic letters Quote  Post ReplyReply Direct Link To This Post Posted: 22 Nov 2023 at 3:07pm
Originally posted by Afros Afros wrote:

Originally posted by Plastic letters Plastic letters wrote:

Originally posted by Afros Afros wrote:

Originally posted by Plastic letters Plastic letters wrote:

Great response. 

Don’t bother engaging as you know I’m right

To extrapolate on Tlaz's earlier comment, if you the median price for a house was $150k when the median income was $40k but now the median house price is $600k and the median income is $80k, which presents as a better position to get into the housing market?

No one has said that scenario is wrong. Or I certainly haven’t.  My comments have been around expectations. 

In the meantime, what’s the take home pay on 85k?

It would be around $65k.

I get most of your points but did you not see where you contradicted yourself by commenting both that your friends with a combined household income of $240k cannot get a start,


I did, I mentioned a post or 2 later that I mistyped and got the message Arsey about Embarrassed
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Plastic letters Quote  Post ReplyReply Direct Link To This Post Posted: 22 Nov 2023 at 3:17pm
If you make $85,000 a year living in Australia, you will be taxed $19,792. That means that your net pay will be $65,208 per year, or $5,434 per month. 

Re my point with getting a foothold.
Maybe someone who has a household budget done can extrapolate it out here BUT I’m convinced that standard of living demands and the position or postcode demands are what are holding people back, quite often………not always

In Sydney you can rent a very nice apartment for between $500-600 per week. For a young couple on 85k each that’s $2500 a month. After tax they earn 11k per month.
I’d love to see where the 8.5k is being spent if they can’t save.

In saying that, the need for banks to get a deposit has always seemed very odd to me. If you’re lending 500k the risk is marginally different if there was no deposit.
Maybe governments Ps should offer no deposit loans to help first buyers. Mind you, they no longer own a bank cuz the private sector do it better, apparently  Confused
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Post Options Post Options   Thanks (0) Thanks(0)   Quote rusty nails Quote  Post ReplyReply Direct Link To This Post Posted: 22 Nov 2023 at 3:38pm
A very nice apartment for $5-600pw?
Where?

Need for a deposit?

You are completely financially illiterate.
Not only do you need a deposit, but in most cases of loans with high LVR’s you are also required to pay mortgage insurance.
Google that….


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Post Options Post Options   Thanks (0) Thanks(0)   Quote ExceedAndExcel Quote  Post ReplyReply Direct Link To This Post Posted: 22 Nov 2023 at 4:00pm
The major issues i see holding people back from buying are of course the difficulty in saving a large enough deposit but also not being prepared to move to a cheaper area to get a foot in the door. Maintaining the lifestyle appears to be a higher priority that buying, and then they complain. It’s quite comical. But that’s ok guys, you stick with renting your expensive apartment in an inner-suburb forever. It’s quite ok by me.

The first place I bought was a 2 bedroom townhouse, 20km+ from Brisbane CBD. That might not seem like far for posters from Sydney but in Brisbane that is in the sticks. Undesirable. But the price was right, $250k in the late 2000s. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Plastic letters Quote  Post ReplyReply Direct Link To This Post Posted: 22 Nov 2023 at 4:28pm
Originally posted by rusty nails rusty nails wrote:

A very nice apartment for $5-600pw?
Where?

Need for a deposit?

You are completely financially illiterate.
Not only do you need a deposit, but in most cases of loans with high LVR’s you are also required to pay mortgage insurance.
Google that….




Listen, there’s a website called realestate.com…….go Google that……….and educate yourself Wink
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Fiddlesticks Quote  Post ReplyReply Direct Link To This Post Posted: 22 Nov 2023 at 4:30pm
People want to live as close to work as possible otherwise they are just adding to roads chaos and your weekly costs go up with fuel etc plus all that time lost travelling is the pits...Its only natural to want to live as close as possible to your job. Sometimes you just can't though and might have to drive an hr to work, and your work is in a wealthy suburb while you live in a crappy area.  
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Fiddlesticks Quote  Post ReplyReply Direct Link To This Post Posted: 22 Nov 2023 at 4:32pm
Also if you have kids moving to dodgy areas to save money can be really hard on them, not to mention the stress its adds on you as a parent with crime and drugs etc. 

That example PL shows with 85k now just imagine you are a single parent, that money disappears fast as all the bills are on yourself, not shared with someone. That's me and my life.   
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