Boomers and/or Young People Suck

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kirky said:
I’ve still got the photos of the demolition - my late dad and I demolished it over two weeks holiday. We literally took it apart bit by bit.

Now in saying that, we didn’t have to fence the property like you do nowadays. All we had to do was write - “demolition in progress - keep out” on the front fence. That was all that was required back then. I’ll find the photo and post.
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Another thing that costs more, I’ve done some renovations myself recently and you don’t get any change from a few K and that’s before you’re allowed to do anything.
 
Mostyn said:
At its highest of 17% - which was only for a few months - interest payments were on average 6% of total household income. Today they are 7%.

So paying 17% interest on a cheaper house is a lot less expensive that what people face today at 6%.

That's before you consider that the average price to income ratio in Australia has doubled since 1980.

The insane price of properties is extraordinarily impactful on young people wanting to enter the market.
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I can’t believe (have only just found out) that America has fixed interest for the life of the loan!
 
StonesThrow said:
11A James Street, Prospect, SA 5082 https://www.realestate.com.au/property-house-sa-prospect-438656416

I'm further north than this towards Kilburn sharing with a mate. But similar house. Ours is maybe a little nicer than this and has 1 less bedroom. We've at least got an undercover area outside.

The key point is that places like this were half the price in 2020 and saving money was a LOT easier.
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3rd bedroom, two sets of bunk beds, rent it out to Asian students, $100 a bunk, probably has a shed on the property too, not to hard to get a few bunks in there.
 

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spenze said:
And Donald Trump

swings and roundabouts Froggachino
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I never said it was a good thing!
I locked my first rate in at 8.8% and since it’s started going up recently it only ever went down since I had it (locked it in lower posts the initial one)
Mainly because of parents saying, we had it at 17%……
 
My niece and her boyfriend are in their mid/late 20’s, live at home (together) rent free, and have a joint income north of $200k

They constantly complain they can’t save for a deposit for a house. Have been trying for a few years and making no headway.

But he’s just upgraded to a brand new SUV post Christmas

It’s all about choices, and frankly I don’t see anything wrong with that
 
kirky said:
I seriously do feel sorry for the millennials - the housing issue is due to a number of poor policy decisions made in the early 2000’s.

The average housing price as a % of income is at historical highs.

The problem now is how to unscramble it all.
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No. The same issue is reported throughout the western world

The cause was deregulation and low interest rates from the GFC

Near free money juiced demand through the roof, and NIMBYism made it difficult for development of green spaces and new builds squeezing supply.
 
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DJ75 said:
The boomers are still in charge. It's true. Look at government everywhere. Look at who is actually pulling the government strings (Murdoch etc).
It's still the Boomers running everything for the benefit of the boomers. Why do you think there is an outrage every time someone dares mention changes to negative gearing?
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DJ75 said:
Decisions made by Howard and through the LNP over decades now have led to this situation. They have prioritised corporate money making over people. It's why they consistently vote against pay rises (except for politicians of course).
The gap between profits and pay has never been bigger. Never.
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The problem with these conversations is that wacky extremist positions like this just hardens views on all sides

Ooooh Murdoch is pulling all the strings from his hollowed out volcano, aided by Jewish space lasers and the lizard people threatening to invoke the zombie apocalypse

When people think it’s ok to repeat conspiratorial nonsense with a straight face, How can serious subjects ever be discussed properly?
 
Sanders said:
My niece and her boyfriend are in their mid/late 20’s, live at home (together) rent free, and have a joint income north of $200k

They constantly complain they can’t save for a deposit for a house. Have been trying for a few years and making no headway.

But he’s just upgraded to a brand new SUV post Christmas

It’s all about choices, and frankly I don’t see anything wrong with that
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That's extreme levels of financial illiteracy.
 
StonesThrow said:
11A James Street, Prospect, SA 5082 https://www.realestate.com.au/property-house-sa-prospect-438656416

I'm further north than this towards Kilburn sharing with a mate. But similar house. Ours is maybe a little nicer than this and has 1 less bedroom. We've at least got an undercover area outside.

The key point is that places like this were half the price in 2020 and saving money was a LOT easier.
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4 bedroom, family house for a couple of blokes sharing, 12 minute drive to CBD

Not sure that’s the flex you were going for
 
Sanders said:
And extreme levels of woe is me, it’s all so unfair.

Lovely people, but sheesh
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I have a mate that rents out my spare room. He recently got a small inheritance when his dad passed away. I suggested maybe he should consider putting the money into one of those high interest savings accounts where he could get 5%. The dude is nearly 40 and he's always been terrible at saving but here is a chance to build a nest egg that required no effort. Instead of listening to me though, he's just spending it on crap.
 

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Mr_Moogle said:
I have a mate that rents out my spare room. He recently got a small inheritance when his dad passed away. I suggested maybe he should consider putting the money into one of those high interest savings accounts where he could get 5%. The dude is nearly 40 and he's always been terrible at saving but here is a chance to build a nest egg that required no effort. Instead of listening to me though, he's just spending it on crap.
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Soooo not coke and hookers?
 
spenze said:
Soooo not coke and hookers?
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That I could respect. He spends it on Warhammer toys and costumes for his fringe show.

seinfeld-jerry-seinfeld.gif
 
Sanders said:
No. The same issue is reported throughout the western world

The cause was deregulation and low interest rates from the GFC

Near free money juiced demand through the roof, and NIMBYism made it difficult for development of green spaces and new builds squeezing supply.
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Well if you want to live in the south in the US, you can get a house for US$250k.

Just one problem, most of your neighbours are MAGA cultists.
 
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