Affordability

Howdy

Just reading some Friday afternoon junk news and came across this.

http://www.news.com.au/finance/supe...t-of-struggle-st/story-e6frfmdi-1227093458723

Interesting and no double talked about before.
But it got me thinking about affordability, Is property really this "affordable" or are some people just reaching beyond their means.
It took myself and My partner at the time 1 year to save for a property on average wages.
Maybe Brisbane is still behind, but I honestly laugh at those who say they can't afford to buy property.
I have a few friends who despite being on above average wages, are always broke.
Maybe I'm just sick of hearing peoples excuses as to why they will never improve their lives.
I even had one friend who was left 100k from grandparents.
I spoke with him after he wasted 50k on private chartered helicopter flights etc.
I asked him why not get your money to make you more money, his answer was maybe, but i'm not ready to make big life choices like that.
No doubt all the money has been spent.

Sigh....
 
I'm not sure if it stated, that if the money borrowed against the Canadian RRSP wasn't paid back, that amount was added back to their income, so taxes would now be due. (contributions to RRSP's are deducted from income, before income tax is calculated)

I'd never recommend it to my children.

Saving the money for a deposit is a good way to learn discipline.
 
You should use the search function. This topic has been done to death :p

There is nothing wrong with anyone starting another thread on any subject..even previous ones.

New people join SS all the time, and may want to hear opinions in 'real time', as well as contribute their own.
 
You should use the search function. This topic has been done to death :p

That's why its in the coffee lounge.
How else am I meant to get my posts up :)
I'm sure the percentage of already covered posts here is quite high.
Plus some of the already posted Threads have waaaayyy too many posts in them, i'm just refreshing it so people can use this post in their search!
Oh and its Friday, I refuse to use the search function on Friday!
 
Affordable to who?

Tripled-fronted older 2 bed, 1 bath, 1 living room clunker, needing a reno, in outer suburbia - affordable to everyone (sound of crickets).

Brand new apartment/townhouse in trendy spot close to CBD, cafes and cool things - affordable only to those who are the haves....probably higher end income earners and/or second/third time buyers.
 
Affordable to who?

Tripled-fronted older 2 bed, 1 bath, 1 living room clunker, needing a reno, in outer suburbia - affordable to everyone (sound of crickets).

Brand new apartment/townhouse in trendy spot close to CBD, cafes and cool things - affordable only to those who are the haves....probably higher end income earners and/or second/third time buyers.

Exactly my point, affordability is subjective
 
Exactly my point, affordability is subjective
Yes, and this is where all the arguments come in on this site.

For an old b@stard like me, the affordability is still as bad as it ever was - but from my observation the expectations are different.

If you say to most FHB's; "Your first home will be an older house/apartment that needs a fair bit of work, with no curtains and second hand furniture if you can afford some" their jaw drops.

But, that's how everyone did it 25 and more years ago.

Of course; the younger folks often don't believe this sort of thing, and think you are pulling a "Four Yorkshireman" on them.
 
I rented until I could afford to buy a house in cash. No complaints. I don't see why house should be any different from clothes or food or car. If you cannot afford it, you cannot have it. This is a capitalist priniciple and if that does not agree with the complainants they should move to some communist commune where hopefully everything is provided free of charge.
 
I rented until I could afford to buy a house in cash. No complaints. I don't see why house should be any different from clothes or food or car. If you cannot afford it, you cannot have it. This is a capitalist priniciple and if that does not agree with the complainants they should move to some communist commune where hopefully everything is provided free of charge.
Why do you continually come out with these completely out of touch statements?

Of course you've no complaints. You were able to do what 99% of the population cannot.

Not everyone earns north of $200k per year like you.

I do congratulate you on some of your frugality though. That would help you reach that achievement.

The vast majority of people are average wage earners and below and have to borrow, and it's always been that way due to the cost to build and price of land, etc (stats on average incomes are higher due to extremely high income earners pumping up the average one CEO on $3mill per year takes a lot of $40k per year earners to balance it out).

You need to move around a bit...maybe go over the bridge to the south side once in a while...visit Blacktown or other.
 
Why do you continually come out with these completely out of touch statements?

Of course you've no complaints. You were able to do what 99% of the population cannot.

I don't think I am out of touch. I am sharing a personal experience which was achieved in the past 5 to six years. I think that more of the population can achieve far more than their complaints would lead us to believe. And it is important to share different perspectives so that complainants can see the other side.

My next savings goal is early retirement and hopefully, with the help of investments, this goal may come to fruition sooner rather than later.
 
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