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My daughter and son in law, now 31 and 33, partied hard, travelled for years, worked all around oz at menial jobs, came back to Melb 6 years ago, rented a house, (ie did not live with M & D) saved hard, but not too long as they were still party animals, saved hard, got married, saved hard bought house, bought new ute, have had professionals instal fantastic new kitchen, painted entire house, new blinds, polished floors, new dining room suite, expensive new lounge suite, still go overseas once a year, and.... have just about paid off their house. I think they are fantastic. They only have very ordinary jobs (no uni ed) No its not in a toffy suburb, but just like all us oldies started out, they were prepared to be realistic.
My daughter and son in law, now 31 and 33, partied hard, travelled for years, worked all around oz at menial jobs, came back to Melb 6 years ago, rented a house, (ie did not live with M & D) saved hard, but not too long as they were still party animals, saved hard, got married, saved hard bought house, bought new ute, have had professionals instal fantastic new kitchen, painted entire house, new blinds, polished floors, new dining room suite, expensive new lounge suite, still go overseas once a year, and.... have just about paid off their house. I think they are fantastic. They only have very ordinary jobs (no uni ed) No its not in a toffy suburb, but just like all us oldies started out, they were prepared to be realistic.
Pointing young people on the right path in the right direction is what I would suggest you aim for. There are young people out there who know how to live within their means and are achieving their "great Australian housing dream". Go find some and share their stories.
Welcome to SS 'tor'.
You sound like an interesting person.
I think we agree on index investing (as an alternative to stock picking at least) from what I recall of our GHPC banter.
Although, I have not had any money in index funds/listed investments of any kind for some time now (excluding super).
L.AAussie pretty much set this post straight.
To put the property "myth" straight, it is actually a period of 7-10 years, and
Cool. Nigel Stapledon of the University of NSW School of Economics has done a study on long term house prices in Australia. If you notice the bottom of the chart, the source for real house prices comes from Stapledon.
The average dwelling price in Australia in 1880 was the pounds equivalent of $870.
If house prices double every 10 years, the average house price today is $5.547 million. If they double every 7 years, it is $142.8 million.
You better start buying some more property - it's extremely cheap.
Gee! I wonder what the house price/average wage multiple was then?
Tis the weekend. Maybe she has the weekends off!wow, 5 pages of mostly offtopic nonsense, and no reply from antoinette!
Cool. Nigel Stapledon of the University of NSW School of Economics has done a study on long term house prices in Australia. If you notice the bottom of the chart, the source for real house prices comes from Stapledon.
The average dwelling price in Australia in 1880 was the pounds equivalent of $870.
If house prices double every 10 years, the average house price today is $5.547 million. If they double every 7 years, it is $142.8 million.
You better start buying some more property - it's extremely cheap.
wow, 5 pages of mostly offtopic nonsense, and no reply from antoinette!
Hello! She started this thread.
I guess that's where the myth stops doesn't it. For the price/average wage to stay constant, then it assumes wages also double every 7 to 10 years!
I don't think some people comprehend the power of compounding. (But don't tell too many people, otherwise when the music stops we will have a once-in-100-year slump)
And has never come back..... a fake?
Cheers
The Y-man
Tis the weekend. Maybe she has the weekends off!