Is the Great Australian Dream Still Alive ?

The dream as it was when I was a child is officially dead. When I grew up, almost all families could afford a 3 bedroom house and a block of land in outer or fringe suburbs of melbourne. Those days are long gone. I feel sorry for the young kids of today. If things keep going as they are, they have no hope.
 
The dream as it was when I was a child is officially dead. When I grew up, almost all families could afford a 3 bedroom house and a block of land in outer or fringe suburbs of melbourne. Those days are long gone. I feel sorry for the young kids of today. If things keep going as they are, they have no hope.

What a load of crap!!!
 
The dream as it was when I was a child is officially dead. When I grew up, almost all families could afford a 3 bedroom house and a block of land in outer or fringe suburbs of melbourne. Those days are long gone. I feel sorry for the young kids of today. If things keep going as they are, they have no hope.
Rubbish, if they forego the high end / latest EVERYTHING from mobile phones to shoes to cars, they may, just MAY get somewhere!! Until they realise that they are spending thousands of dollars wasted on luxuries that they can do without, they will go without (a roof over their heads to call their own)!!! :rolleyes:
 
Rubbish, if they forego the high end / latest EVERYTHING from mobile phones to shoes to cars, they may, just MAY get somewhere!! Until they realise that they are spending thousands of dollars wasted on luxuries that they can do without, they will go without (a roof over their heads to call their own)!!! :rolleyes:

Or they may not...
 
Rubbish, if they forego the high end / latest EVERYTHING from mobile phones to shoes to cars, they may, just MAY get somewhere!! Until they realise that they are spending thousands of dollars wasted on luxuries that they can do without, they will go without (a roof over their heads to call their own)!!! :rolleyes:

I do not know anyone who is as you describe. An iphone will cost at the absolute most $70 a month and an ipod is about $300. Most people buy cheap clothes that look trendy and get a pass mark. There are wealthy people and people who high disposable income who just want to make purchases in every generation, but that has nothing to do with the high cost of housing.

I'll give you $70 a month plus a one off payment of $300 for a house at 1990 prices (relative to average wage) if you want.
 
I do not know anyone who is as you describe. An iphone will cost at the absolute most $70 a month and an ipod is about $300. Most people buy cheap clothes that look trendy and get a pass mark. There are wealthy people and people who high disposable income who just want to make purchases in every generation, but that has nothing to do with the high cost of housing.

I'll give you $70 a month plus a one off payment of $300 for a house at 1990 prices (relative to average wage) if you want.
Really??? Then you must be forgetting about the spaced out, drunken (or both) types who have all nighters down at the local nightclub with drinks costing minimum $5 a pop (and that's bottom shelf), smoking cigarettes (and I'm not even touching on the subject of pot) by the carton loads, all which far exceed the amounts you're referring to. It's not the $70 per month or one off $300 ipod, it's everything else in between, that you (and those just like you) FORGET to take into consideration whilst WHINGING and CRYING BOO HOO POOR ME!!!! :rolleyes:
 
Or like my sister - Just likes to spend her money on lunches everyday, new clothes, shoes she can barely walk in, takeaway regularly, dance classes and babysitter 3 times a week, regular holidays, $$$ phone contract, foxtel, etc; and now she is complaining she cann't afford the $10p/w rental increase her LL has decided to up it by (it is already under market rent, and he decided not to increase it 12months ago whenn she complained about the same thing). Yet she doesn't want to move to a cheaper house or cut back on any of her current expenses. :rolleyes:

She has the income to get ahead if she wants too (whether in terms of property or even just basic savings for something else), but she just prioritises all of her current luxuries over the delayed gratification of doing something to better her and her son's future.

You can lead a horse to water, but you cann't force it to drink.
 
Really??? Then you must be forgetting about the spaced out, drunken (or both) types who have all nighters down at the local nightclub with drinks costing minimum $5 a pop (and that's bottom shelf), smoking cigarettes (and I'm not even touching on the subject of pot) by the carton loads, all which far exceed the amounts you're referring to. It's not the $70 per month or one off $300 ipod, it's everything else in between, that you (and those just like you) FORGET to take into consideration whilst WHINGING and CRYING BOO HOO POOR ME!!!! :rolleyes:

To be fair I was at uni for 5 years getting my degree(s) so most of my resources were put towards that and yes I did go out with friends during that time, but what generation of people do not go out when they are young. I mean seriously ? You're trying to say the reason property is expensive is because young people have social lives ? What ? pubs didn't exist back in your day ? My folks certainly went to pubs and still managed to afford property on a taxi drive/ check out chick wage.

Just face facts that it is harder to buy into the market now and that the dream has faded.
 
To be fair I was at uni for 5 years getting my degree(s) so most of my resources were put towards that and yes I did go out with friends during that time, but what generation of people do not go out when they are young. I mean seriously ? You're trying to say the reason property is expensive is because young people have social lives ? What ? pubs didn't exist back in your day ? My folks certainly went to pubs and still managed to afford property on a taxi drive/ check out chick wage.

Just face facts that it is harder to buy into the market now and that the dream has faded.
How old was that check out chick or taxi driver when they bought their property....hmmmm???? I bet they had to scrape together even tip (taxi driver) or discount on grocery item (check out chick) to do it!!! Had they have gone to a few night clubs less, or at least made some cut backs on the number of times, or drinks etc they may not have had to work as long later to get there.

No I'm not saying you shouldn't have a life.

I'm saying you have to CHOOSE which it is, the full on social life or the great aussie dream!!!

You can try and do both, but I don't like your chances!!! :(
 
How old was that check out chick or taxi driver when they bought their property....hmmmm???? I bet they had to scrape together even tip (taxi driver) or discount on grocery item (check out chick) to do it!!! Had they have gone to a few night clubs less, or at least made some cut backs on the number of times, or drinks etc they may not have had to work as long later to get there.

No I'm not saying you shouldn't have a life.

I'm saying you have to CHOOSE which it is, the full on social life or the great aussie dream!!!

You can try and do both, but I don't like your chances!!! :(


They managed to do both and on pretty shitty jobs, because property was a lot cheaper relative to income back then. Something this forum seems intent on ignoring.
 
They managed to do both and on pretty shitty jobs, because property was a lot cheaper relative to income back then. Something this forum seems intent on ignoring.

We KNOW property is currently more expensive relative to property. We've talked about it many times before. The thing that interests us is what people are DOING for themselves to get through.
 
We KNOW property is currently more expensive relative to property. We've talked about it many times before. The thing that interests us is what people are DOING for themselves to get through.

If you buy now on a low income all you are doing is purchasing a property which is not good value for money.
 
If you buy now on a low income all you are doing is purchasing a property which is not good value for money.

http://www.realestate.com.au/property-residential+land-wa-bridgetown-2848878

BRIDGETOWN, WA.

$40k for 3/4 acre in TOWN backing onto the river.

the block has a huge slope on it, but a podium floor and a 2 bed transportable could be done on this for just on $150k.

that's about $230k all up for a huge block with river frontage and a new 2 bed home in a town with mining prospects (greenbushes) and the possibility for a B&B for the tourist runs and only 3 hours from Perth, 1.5h from Bunbury.

EASY done - and Bridgetown is NOT a sleepy little town. Plenty of folk work remotely from here and in fact, a lot of GOVT employees live in Bridgetown and commute to Bunbury.

i think it''s time to take the red pill and follow the little white rabbit.
 
If you buy now on a low income all you are doing is purchasing a property which is not good value for money.

Anyone who buys now on a low income will be in 10 years a mile ahead of all the low income earning whinging victims out there who find reasons not to do anything and just whinge.

Now, you can argue that it is better to keep renting and invest the diff between the rent and a mortgage into shares, but it depends on what your area of knowledge is at the moment. If you only know property, then property it is, and make the most of it.

Generally, most of the low income earning whingers will do nothing in any direction..except to punt on the nags, spend $20 per week on Tattslotto, or spend several hours a week at the pokies.

Of course; the 5% of people in the world who are not yer average penguin will get off their @rse, and do well in life no matter what their current position or background is. They don't have excuses; they simply do it.

They are the 5% who are achievers, and they will find a way.

The 95% don't.

The 95% not only don't invest and spend like there's no tomorrow, but they don't even salary-sacrifice into super as a basic "investment". They rely on their Employer to fund their investing.
 
If you buy now on a low income all you are doing is purchasing a property which is not good value for money.

I just thought of something else...

Most of my life has not been as a high income earner...had a few years where I was "flying" but that's it.

But in my miserable existence I have been involved in over a dozen property purchases. Is that a lot? To some; no.

I paid less than asking price at the time, but does that mean it was still "good value" at that time? probably not.

But geez; my nett worth hasn't suffered too badly because of it. ;)
 
Now, you can argue that it is better to keep renting and invest the diff between the rent and a mortgage into <insert any investment strategy here>
The problem with that is, people are far, far more likely to SPEND that extra money on fun stuff than save or invest it. So that argument only actually works for people who are very disciplined tightwads (you know, like lots of people on this forum :D )
 
My son (genY) earlier came for a visit and turned his nose up at a freshly home made soup - everything from the garden apart from garlic. He will go out and BUY his lunch. But guess who never has any savings for that holiday he is dreaming about! He'll learn one day. :D Aquiring any substantial asset in life is a decision away. And, most of the time, that decision means discipline and living within your means and sacrificing your old conditioned spending habits which you believe makes you happy. Owning your own home for many people is deeply satisfying and rewarding. I have never met anyone who has regretted buying their own home. Folks are still out there buying houses in my town. All those houses must be affordable for them.Not only that, they seem to all be affording those new cars, trendy clothes, restaurant and take away meals, cigarettes, sporting equipment, personal mowing contractors, jewellery, smartphones, alcohol, holidays, etc. There aint no house crash coming when most of the population can still easily afford all the non essentials. And especially when most of them are employed!
 
Back
Top