generational housing problem

[Dean1337]

Dean,

I'm only 37 and I live in an outter suburb of Melbourne. I have two kids and it used to take me 1.5 hours to drive to work and home again. 3hrs in the car each and every day. I now work 15 mins from my home but I did the trek for many years.

It's true that infrastructure may be lacking but that doesn't justify the thought that new starters should be able to afford to live within a reasonable distance to city based work.

I don't believe it's a realistic expectation. It is really a want or a preference that simply cannot be served for many. Better to realise that and make a start further out if needs be.

Cheers,

Arkay.

Hi Arkay,

I agree with what you said. I just get the impression that a lot people on this forum think that moving out to the outer suburbs is an easy thing to do. I've only been at it for two weeks and still finding it difficult to adjust. But I'm determined and will continue regardless (and also love owning my place ). When I get home, I just have to kick my shoes off and chill out. I just think how much harded it would be for someone who has kids. I'd imagine that going through bumper to bumper traffic and arriving home to crying kids would not be an easy thing to handle. Although, I have little experience on the matter.

It may be an unrealistic expectation but given the alternative, it is unstandable that they want it.

 

[steveadl]

Hi everyone,

Those people who keep complaining that younger people should just move further out should carefully think of what they are saying. Most of our citys lack infrastructure and thus a heavy burden is place on those infrastructures that already exist. It is very time consuming to go from the outer suburbs to the inner suburbs when there is a lack of infrastucture.

I did this very suggestion, purchased my PPOR on the outskirts of brisbane. Before buying my PPOR it took me 5-10 mins to get to work. Now, it takes me an 1 hour. I am single and have no kids which makes it easy for me to handle. However, I can perfectly understand how a young couple with kids would feel a little reluctant in making the same choice as I did.

I not saying that there aren't any whingers out there who expect too much. What I am saying however is that the stituation when you guys started out is not necessarily the same as the one facing those who are starting today. By all means, pass on those suggestions but do not look down upon those who do not necessarily follow it. Things are not genenally as black and white as you might precieve.

That's my 2 cents worth.

Agree with the fact that it's not as easy to live in outer subrubs because of commute. But this is'nt the only reason either (in Adelaide anyway). There are plenty of suburbs very close to the CBD (ie. 5-8km) that certain people (read: the whingers) still turn up their noses at.

You'd be amazed at the attitude of people I meet in Norwood (2km from CBD) every day, when you tell them you live in Northgate (8km from CBD), they honestly look at you like your some sort of hero (or idiot), making that huge treck every day! These views are well on their way to being passed on to their kids, and guess what attitude their kids will have in 10yrs time?

Also, (again in Adelaide) an outer suburb train trip could take the same, or in some cases less time than a grid lock car drive to a closer suburb.

 

[Dazz]

I fully sympathise with all of the younger folk who are struggling in these outrageous times. They didn't ask to be born into this quagmire of spiralling prices and poor wages, exploiting by multi-national conglomerates, and ignored by the politicians.

The root cause of the problem is all you elderly fat cats sitting there...usually Baby Boomers and Gen X greedy so and so's with your 5 and 6 houses, gleefully rubbing your hands as your properties go up, forcing us young folk to rent off you.....and then all you want to do is put the bl**dy rent up on us !!!

Sell your houses and flats to us....at a normal price, put the money in the bank like you are supposed to and live off the interest, just like my parents do. That'll then give us young guys a slim chance at getting just one house.

I mean, how many houses do you greedy old guys need ?? As Michael Douglas said "How many yachts can you ski behind".

The great Ozzie dream of buying and owning your on home is well and truly dead cos of you guys, ably encouraged by the Investors Club and their ilk, where 10 or more are encouraged...now that's just pathetic. You've stuffed it for the rest of us. The banks and mortgage brokers are also complicit by encouraging you all to borrow more.

What's my plan ?? I'm gonna sit and wait to inherit something from my parents, that's the only feasible way of getting into a decent house. And yeah...what's wrong with wanting to live in a decent house in a decent suburb, instead of some small hovel box out in woop woop.

Have you guys ever tried to attract a good looking girlfriend by driving around in some clapped out old thing and inviting her back to some dogbox 60km's away from the nightclubs and cafe strip. Get real...these Gen Y girls expect more than that. All you investors would be the ones up against the wall, counting the money in your pocket rather than getting on the dance floor and living life like it should be lived.

Weren't you guys ever young, footloose and fancy free ??

 

[Sunfish]

Those people who keep complaining that younger people should just move further out should carefully think of what they are saying. Most of our citys lack infrastructure and thus a heavy burden is place on those infrastructures that already exist. It is very time consuming to go from the outer suburbs to the inner suburbs when there is a lack of infrastucture.

All real estate is local and all cities vary, but in Townsville there are still moderately priced (nothing is cheap) houses in suburbs with all amenities and easy access to the city or regional shopping centres. Wulguru is my favourite.

The expensive McMansions are further out and they are the ones without any amenities. 5Ks to buy a loaf of bread or a pizza. I'm not sure if there is any bus service and there are no schools. A car for every adult would be mandatory but this is where the young aspire to. Not this little black duck!

The very centrally located house I'm living in now was out'a town a bit when I bought it 40 years ago. And it was a struggle to buy it!

And there is plenty of work and good money being made here so you don't have to sit in Geelong or Adelaide wondering what Ford or Holden are doing. It used to be normal for people to go where the work is. You have no right to insist that work comes to you.

Sorry! I'll hop down off my soap-box now.

 

[steveadl]

I mean, how many houses do you greedy old guys need ?? As Michael Douglas said "How many yachts can you ski behind".

That was Charlie Sheen, talking to Michael Douglas

 

[alexlee]

Let's be honest. Those with the discipline to save and invest will ALWAYS beat those who do not. I mean, what are you going to do, limit the number of properties a person can own?

Let's say all properties drop 20%. Consumption would dry up, leading to a recession as people are just afraid to spend. Lower prices will mean nothing if people don't have jobs! Who will benefit from this? You guessed it! People who are disciplined savers and those who already have property with equity.

I bet if there was a recession now, all the whingers would just change tunes and whinge about how the govt should increase unemployment benefits and job schemes.

They will always have something to complain about. Me, I'm just going to continue what I do and get rich.
Alex

 

[Dean1337]

And there is plenty of work and good money being made here so you don't have to sit in Geelong or Adelaide wondering what Ford or Holden are doing. It used to be normal for people to go where the work is. You have no right to insist that work comes to you.

I never did, nor would I insist it, but not everyone has the luxury or skills to get jobs where they please. For example, certain professionals can only find work in the major citys. The only alternative to them is to find a new career in a town where there is far less employment opportunities for them. Like I said, not everyones circumstance are as same as yours and you should not look down upon them simply because they didn't do things the way you have done it.

 

[Dean1337]

I fully sympathise with all of the younger folk who are struggling in these outrageous times. They didn't ask to be born into this quagmire of spiralling prices and poor wages, exploiting by multi-national conglomerates, and ignored by the politicians.

The root cause of the problem is all you elderly fat cats sitting there...usually Baby Boomers and Gen X greedy so and so's with your 5 and 6 houses, gleefully rubbing your hands as your properties go up, forcing us young folk to rent off you.....and then all you want to do is put the bl**dy rent up on us !!!

Sell your houses and flats to us....at a normal price, put the money in the bank like you are supposed to and live off the interest, just like my parents do. That'll then give us young guys a slim chance at getting just one house.

I mean, how many houses do you greedy old guys need ?? As Michael Douglas said "How many yachts can you ski behind".

The great Ozzie dream of buying and owning your on home is well and truly dead cos of you guys, ably encouraged by the Investors Club and their ilk, where 10 or more are encouraged...now that's just pathetic. You've stuffed it for the rest of us. The banks and mortgage brokers are also complicit by encouraging you all to borrow more.

What's my plan ?? I'm gonna sit and wait to inherit something from my parents, that's the only feasible way of getting into a decent house. And yeah...what's wrong with wanting to live in a decent house in a decent suburb, instead of some small hovel box out in woop woop.

Have you guys ever tried to attract a good looking girlfriend by driving around in some clapped out old thing and inviting her back to some dogbox 60km's away from the nightclubs and cafe strip. Get real...these Gen Y girls expect more than that. All you investors would be the ones up against the wall, counting the money in your pocket rather than getting on the dance floor and living life like it should be lived.

Weren't you guys ever young, footloose and fancy free ??

Well said Dazzling!!!

 

[Sunfish]

Well said Dazzling!!!

Dean, you must know if he was fair dinkum or taking the hiss. I don't.

If not I expect to see him offering discount units to genXers in the middle of The Cross. Just so they have somewhere to shoot up.

 

[Sunfish]

You have no right to insist that work comes to you.

I never did, nor would I insist it,

Sorry Dean, that was a general "you". Not directed at anyone in particular.

"Fly in/fly out" miners are are making nearly 2 grand a week. "Sadies" nearly as much and sparkies and diesel fitters more. It's a bit rough and you (same general "you") need to very careful about booze and drugs. These guys can't even stay at a party where someone else is smoking whacky weed and can't eat sesame seed buns. That's the price they pay. But it doesn't take long to get the house.

 

[Dean1337]

Dean, you must know if he was fair dinkum or taking the hiss. I don't.

If not I expect to see him offering discount units to genXers in the middle of The Cross. Just so they have somewhere to shoot up.

Actually, I don't either. I just was hoping he wasn't being sarcastic.

I was mostly referring the following:

Have you guys ever tried to attract a good looking girlfriend by driving around in some clapped out old thing and inviting her back to some dogbox 60km's away from the nightclubs and cafe strip. Get real...these Gen Y girls expect more than that. All you investors would be the ones up against the wall, counting the money in your pocket rather than getting on the dance floor and living life like it should be lived.


This point is particularly true. At least for me. I drive around in a ford festiva and you would not believe how many girls have said something to the following:

"Isn't that a girls car?" and then laugh.

 

[alexlee]

I know a lot of people who were very popular in their teens and early 20s because they had all the cool stuff. Now they're 30 and struggling financially. Personally, I wasn't very popular in my teens. Now many of my friends are worried sick about money and living very uncool lives because they have to save money. I'm starting to reap the benefits of my saving and investing: travel, having a much less stressful life, being able to buy a much better house, being more confident about the future..... (if I hear one more lament from my friends about how they're going to afford private school, when their kids are still crawling around.....)

Maybe not being part of the 'cool' crowd is just one of the sacrifices you have to make to be wealthy. Whether that's a price you are willing to pay is up to you, but you pay another price later.
Alex

 

[Sunfish]

This point is particularly true. At least for me. I drive around in a ford festiva and you would not believe how many girls have said something to the following:

"Isn't that a girls car?" and then laugh.

Get a Trumpy motorbike. Girls don't ride them.
http://www.motorcyclecruiser.com/roadtests/triumph_bonneville_america/

 

[Dean1337]

Maybe not being part of the 'cool' crowd is just one of the sacrifices you have to make to be wealthy. Whether that's a price you are willing to pay is up to you, but you pay another price later.
Alex

I agree but many people where not taught how to be financially intelligent. Unless you are either taught the option or happen to stumble upon it, you are going to do the only thing that comes naturally to you, you follow the crowd.

Even then, it is difficult to not succumb to such pressures when everyone around you starts calling you a scrooge or tight.

Having said that, I am proud that I've chosen this path and not succumbed to such pressure and people, like yourself alex, should definitely should be congratulated for taking that difficult step. However, I will not put down those who have choosen a different path. Instead, I will be thankful that I haven't fallen into the same trap.

 

[Dean1337]

Get a Trumpy motorbike. Girls don't ride them.
http://www.motorcyclecruiser.com/roadtests/triumph_bonneville_america/

Hmmm ... do you think it's a chic magnet?

 

[Sunfish]

Hmmm ... do you think it's a chic magnet?

Hasn't worked for me but if a chick asked me home I'd ask if she had any beer and pizza in the fridge. LOL

 

[wylie]

I don't know about a motorcycle being a chick magnet, but a couple of houses certainly is. Make sure you don't let on until you know she likes you for "you" and not your assets.

Wylie

 

[granev]

I fully sympathise with all of the younger folk who are struggling in these outrageous times. They didn't ask to be born into this quagmire of spiralling prices and poor wages, exploiting by multi-national conglomerates, and ignored by the politicians.

The root cause of the problem is all you elderly fat cats sitting there...usually Baby Boomers and Gen X greedy so and so's with your 5 and 6 houses, gleefully rubbing your hands as your properties go up, forcing us young folk to rent off you.....and then all you want to do is put the bl**dy rent up on us !!!

Sell your houses and flats to us....at a normal price, put the money in the bank like you are supposed to and live off the interest, just like my parents do. That'll then give us young guys a slim chance at getting just one house.

I mean, how many houses do you greedy old guys need ?? As Michael Douglas said "How many yachts can you ski behind".

The great Ozzie dream of buying and owning your on home is well and truly dead cos of you guys, ably encouraged by the Investors Club and their ilk, where 10 or more are encouraged...now that's just pathetic. You've stuffed it for the rest of us. The banks and mortgage brokers are also complicit by encouraging you all to borrow more.

What's my plan ?? I'm gonna sit and wait to inherit something from my parents, that's the only feasible way of getting into a decent house. And yeah...what's wrong with wanting to live in a decent house in a decent suburb, instead of some small hovel box out in woop woop.

Have you guys ever tried to attract a good looking girlfriend by driving around in some clapped out old thing and inviting her back to some dogbox 60km's away from the nightclubs and cafe strip. Get real...these Gen Y girls expect more than that. All you investors would be the ones up against the wall, counting the money in your pocket rather than getting on the dance floor and living life like it should be lived.

Weren't you guys ever young, footloose and fancy free ??

love it dazz - the world owes me a living too

 

[Dean1337]

love it dazz - the world owes me a living too

To counter my own argument, I do agree that there are those who do expect that everything is given to them on a silver plate. They do not deserve our sympathy.

Sometimes I argue a point that I don't fully agree to, just for a debate.

 

[jingo]

Hi Arkay,

I agree with what you said. I just get the impression that a lot people on this forum think that moving out to the outer suburbs is an easy thing to do. I've only been at it for two weeks and still finding it difficult to adjust. But I'm determined and will continue regardless (and also love owning my place ). When I get home, I just have to kick my shoes off and chill out. I just think how much harded it would be for someone who has kids. I'd imagine that going through bumper to bumper traffic and arriving home to crying kids would not be an easy thing to handle. Although, I have little experience on the matter.

It may be an unrealistic expectation but given the alternative, it is unstandable that they want it.

Hi Dean,

I am 36. My wife and I moved from renting in the inner city 10 years ago and built our first home in the outer suburbs of Melbourne. We travelled each day to the other side of the city for work. (About an hour each way). At the time we didn't have children. We used to leave home at 6.30am and return about the same time each evening. We did get used to it after a while.

We noticed that house prices in the inner areas were increasing very quickly and we started to invest in these areas. We still live in our house in the outer suburbs and continue to buy property in the inner areas. The strategy has worked well for us.

Regards Jason.