that's all bullshit pal........people living standards are way higher now.......

it's more like uber wankers won't buy in a more affordable suburb

Ah the old "living standards" argument. Gen Y & Z just want every handed to them and don't want to work hard etc :lol:

I wonder how many good houses in the "affordable" suburbs are just sitting there on the market and not getting cleared...

Did your kids buy in the same general area as you? If so, it's lucky you already live a long way from the CBD so they could afford to eh?

Yes houses in Sydney are a joke and unaffordable but pretty much everywhere else, except possibly Darwin and Melbourne it isn't that bad.

Here's a little example of a suburb near where I used to live. Probably 20-25kms from the centre of Brisbane. http://www.realestate.com.au/property-house-qld-hillcrest-119912509

$329k. Very affordable. And it's not Inala or Darra or Ipswich. Start here and in a few years move on to something better.

Everyone seems to want everything straight off the bat. Buy this and rent 2 bedrooms out if you're a single bloke or you and the missus pay it off.

I'm not arguing with you.

you jump to a lot of conclusions......

money is easier to get, people now buy houses and borrow enough to fully furnish it and have all the latest stuff like home theatres, new cars, new everything.....they earn more money, get better conditions and whinge like they have had it hard......

That's it, the wife and I bought a shitty townhouse in a fucked suburb. Now four years on we are building our own place. People need to start small and build their way up.

Ha ha. I put a pool in years ago and ol' mate was chatting with me over the fence when it was going in and said "it'd be nice to have money". I just looked over his shoulder at the two $40k+ 4WD's sitting in his driveway and said "yeah".

Only really talking about Sydney and Melbourne. I had no problems in Adelaide either.

Saying that....
So you buy that place, and after a few years you pay a shitload of interest and pay off virtually none of the principle. If house prices don't move you'll have no equity so how do you move on to something "better"?
In batty's era you could afford that house on a single (average) income but now you're suggesting you need to have 2 incomes or rent bedrooms out...

Not trying to overplay the issues in other cities but Sydney in particular there are real issues around housing affordabilitu that the Libs couldn't give a stuff about. That's fine because their looking after their constituents but people that don't fit into that category shouldn't vote for them.

Yes "people" do that.

that's right, like we used to, get a start and then build on it, making sure you don't over capitalise....

we started with left over furniture and the first house we bought was pretty average, it did have a lot of potential......my wife was very offended when we moved in and our new next door neighbour said" gee your easily pleased"....lol

after 16 years living there our 12 square house that cost me $58 K we then sold as a 60 square house for $650,000, which set a record in our area, but when we purchased the property for $58K we had to jump through flaming whoops with a carrot up our arses a 20% depoist, proof we had the stamp duty and proof we had the Legal fee's otherwise no deal

that's right, like we used to, get a start and then build on it, making sure you don't over capitalise....

we started with left over furniture and the first house we bought was pretty average, it did have a lot of potential......my wife was very offended when we moved in and our new next door neighbour said" gee your easily pleased"....lol

after 16 years living there our 12 square house that cost me $58 K we then sold as a 60 square house for $650,000, which set a record in our area, but when we purchased the property for $58K we had to jump through flaming whoops with a carrot up our arses a 20% depoist, proof we had the stamp duty and proof we had the Legal fee's otherwise no deal

The suggestion to rent out your spare bedrooms is only to make it easier on yourself and have spare cash. (Tax free too.) It's not mandatory.

Repayments on a $300k loan over 30 years is $392 a week. Someone on the minimum wage is getting roughly $700 a week pre tax. It's not great but I wouldn't imagine that anyone back in the day on minimum wages could afford a house either.

Someone on "average" wages is getting $58k a year or $1100 odd a week pre-tax.

It's not the libs fault housing is expensive. Housing in Sydney has always been a joke.

Not having a go at you here but I'd love to see these graphs with Sydney and Melbourne taken out.

You'd get a far better idea of housing affordability for anyone not living in these places.

batfink reminds me of custard in the radiator :lol:

-PB

Whilst I'm on a roll I love how nobody has got any money these days and yet somehow manage to have the latest Samsung or iphone in their hip pocket costing them $70+ a month. Plus all of their kids. The amount of my kids mates with the latest phones is unreal.

Walk into any shopping centre on the weekend and every coffee shop is chock -a-block with punters paying $4.50 for their flat whites with a $7.00 piece of cake on the side.

When I was I kid one bloke at my school had a pool. And he was the most popular bloke in summer hands down. Jump on google earth for 2 minutes and have a comparison these days.

Jet-skis, boats, motorbikes, 4WD's parked out the front of every 2nd blokes house. Friggin hell. Does anyone drive a shit box these days?

Poor bugger me.

Electricity is more expensive now and probably groceries. Everything else, and we're talking just about everything, is miles cheaper than it used to be.

There was a story on the 9news chatroom about making it a "permanent 4 day work week", because everyone was in such great spirits after a 3 day weekend

It could create more jobs, job sharing, better mental health, basically this world->





Then the realist aspect would kick into gear, when I realised that people are greedy, they always want more, and you can see for yourself! The average wage for a worker used to be 40000 a year, now its 76000 a year, but everything else has gone up as a result to offset for the fact wages have gone up :-k Mr Economist? Our money seems to be going in the same value/ worth as the Zimbabwean dollar?

Ultimately, the chances of things changing for a society which lets people get what they want for a happy healthier work life where its fair for everyone and ensuring the unemployment rate is at 0% are bordering between "Not on your life!" to "PROBABLY NEVER!"

I know you're not. I'll have a dig later as I've gotten a bit snowed under at work (might default on my mortgage if I don't get back to it :lol:).

I'm by no means and economist but it's interesting how little people understand about the basics of inflation (not talking directly about you Munruben, just didn't want to make 2 posts).

So, mcjules, do you expect life's cycle to be the same as per years ago when it was "affordable" to buy near the area you grew up ? Maybe so in sleepy ol Adelaide or anywhere else barring Sydney for this case.
Well guess what ?! Sydney based, I couldn't afford buying a house around my local area 22yrs ago !
Went to an area I would describe as "crap" with my new wife upon our first child soon to arrive.

Fact of the matter is today with Sydney - most migrants will tick Sydney option first, its NO1 to them.
Excl the OS investors for now but many of these people are obviously cashed up and pay way more than a local/Aussie wish to pay.
Thats life now - I never saw anything in the bible/text books or later course's that living life was going to get cheaper ?
I'm all ears for anyone who can resolve global issues but more so Australians way of life costing less.
You'll be in power forever :lol:

In 1960 the population was about 10 million now it's about 24 million. When 90 % over immigrants settle in Sydney and Melbourne house prices will inevitably go up. There's nothing magical about it. Comparing housing affordability across the decades is really comparing oranges with apples.

Over the last 5 years the intake has been around 190k per year. https://www.immi.gov.au/media/statistics/statistical-info/visa-grants/migrant.htm

If 90% of those lob into Sydney and Melbourne well you can do the maths.

When immigrants came out in the past they went into camps in places such as Bonegilla and were then "farmed" out throughout regional areas where demand for labour was the highest.

Maybe a return to that sort of system is a start?

On a similar note there's a proposal to move refugees into country areas at the moment. Yamba says no there's not enough work Coffs is saying yep, that's a great idea.



Edited by MUNRUBENMUZ: 11/6/2015 12:30:30 PM

Cost of living has gone down in real terms for most things. That is because the amount that people are earning has increased due to inflation but the prices for many goods have often stagnated or even gotten cheaper over the years. The fact that people can spend a relatively smaller portion of their salary (because the mortgage proportion has increased) to purchase these home theatres, nice cars, flashy mobile phones etc is testament to that. This is also part of the reason why I said that people don't actually understand the basics of inflation.

I do find it interesting that people advocate lowering living standards to load up even more debt on people. Private debt is one of the biggest problems in Australia at the moment and if the economy hits a recession followed by the inevitable large scale job losses the banks will be in a world of pain.

Your idea of living nearby may be different to mine (it probably is) but most people do like to generally stay close to their social networks as we are social animals and do rely on that community of people to get by in life. Being forced (by economics) to move 2 hours drive away from your friends and family must cause all sorts of social issues in Sydney.

People still take a dim view to living in regional centres. I've lived in regional centres and its bloody great. Plenty of work, less crime, nicer people, easier to get childcare, housing about 50% the cost, big enough population to have most things you want and taking 5-10 minutes to drive to work.

People who live in Melbourne and Sydney are crazy.

Moving away from home and your family is shit but sometimes you have to decide what you want out of life.

I grew up in the country. There was no work so it was smoke cones, drink all day and spend your life on the dole like the deadshits around the place were doing or move to the big smoke. I moved to Sydney.

Lived there for 3 years (sharing a 2 bedroom flat with 3 mates for 18 months, how many blokes would do that these days?) and even then for me to look at getting something really basic on my wages meant I'd have to live in Liverpool and commute to the city over an hour each way.

Well fuck that for a joke.

Moved out of there and never looked back. I understand about people wanting to stay with their family and friends and not everyone is like me where they can just up and move but if you do decide to stay in Sydney you know full well what you're up for so they shouldn't be bitching.

People who move to New York or Hong Kong or London expect it to be pricey. If you lobbed there and started complaining about prices they'd look at you as if you were some sort of retarded moron.

Sydney people need to forget about any sort of "correction" or a "bubble bursting" ever happening to make houses more affordable. The best they can hope for is a flattening of prices.

It was over $150k for a poxy 3 bed brick veneer shithole in the outer West 30 years ago. It was always a nightmare.





Edited by MUNRUBENMUZ: 11/6/2015 10:08:08 PM

I'm not sure what you mean here. Lowering living standards with regards to what BF and I'm talking about here means going without stuff so you DON'T load up on debt.

It's funny because no one on here from Sydney is actually bitching about it :lol: I'm not even complaining about this from a personal perspective as I managed ok but it's a fact that houses are more expensive in real terms than they were 20-30 years ago. It's also not a good thing.

I wouldn't advocate a correction or bubble bursting either. If that happens, banks are not going to be lending anyone money even if you were lucky enough to keep your job. Prices must flatten and there needs to be policy to help this occur.

A mortgage is costing an ever greater portion of a persons salary. You can't point to the fact that people have a plasma tv or a nice car as necessarily pointers to people spending excessively as both these sorts of items have become a lot cheaper in real terms. That's all I'm saying. Private debt has gone up extraordinarily in the past 20 years, a decent amount of that is easy credit from credit cards for sure but an even bigger amount is debt from housing. It's not a coincidence that this rapid increase occurred when the government was delivering budget surpluses but let's not go down that rabbit hole :)

I realise no one here is bitching about it but the unaffordability of housing in Sydney is all over the papers, the news and the net at the moment.

People who choose to live in Sydney are entitled to whinge about it I suppose but really they have to decide what's best for them and live with the consequences.



Edited by MUNRUBENMUZ: 11/6/2015 01:22:07 PM

who puts custard in the radiator???

my point exactly...

along with the fact i didn't get superannuation for a large part of my working life and now they 10%........and now there will be no pension for people in a similar position as me......after paying taxes for 37 years, it's all about the here and now and fuck anyone else as long as i am right...... "i'm in the boat Jack push off"

Agreed and I think people do. Nothing from a policy perspective will change without people campaigning about it. I don't think there's anything wrong with "dealing with it" and also agitating for change.

You can relax because there will be a pension for you when your super account gets below a certain amount.

Also taxes don't pay for the pension.

Edited by mcjules: 11/6/2015 02:56:22 PM