Share your "but this time it's different" stories

Also, I suspect much of this talk in the media about unaffordability has been manufactured by the government so they can pass new laws allowing FHBs to access their Super for a deposit... the govt will then be seen to be addressing the 'affordability crisis'.

We're a long way from the peak of this boom in Sydney.

Passing a law to allow FHBs to access their super for a deposit would be absolutely terrible policy. It will do exactly the opposite of making houses affordable, as the super will just cause an inflationary effect.

The 'affordability crisis' is really only limited to Sydney. Personally I'd like to see people stop whinging and move somewhere else if they can't afford it. The only danger I see in the future in Sydney is apartments. If there was a lax in council regulations and they allowed more supply and got rid of certain height restrictions it could cause an oversupply. That would drive down yields and if the Government made any changes to negative gearing it could burn some investors particularly if corporate body/strata fees were to rise as well.
 
Passing a law to allow FHBs to access their super for a deposit would be absolutely terrible policy. It will do exactly the opposite of making houses affordable, as the super will just cause an inflationary effect.

The 'affordability crisis' is really only limited to Sydney. Personally I'd like to see people stop whinging and move somewhere else if they can't afford it. The only danger I see in the future in Sydney is apartments. If there was a lax in council regulations and they allowed more supply and got rid of certain height restrictions it could cause an oversupply. That would drive down yields and if the Government made any changes to negative gearing it could burn some investors particularly if corporate body/strata fees were to rise as well.

This.

I was listening to ABC774 this afternoon (don't judge me :D) and there was a politician (can't remember his name) who said - and I paraphrase - "the current affordability issues are limited to Sydney and some parts of Melbourne." The presenter really wanted to hear that un-affordability was the biggest issue of the day, not to get a reality check.

Earlier in the week, someone had called in in response to Joe Hockey's "get a job" comment. "I have a job I love and I can't get paid more. To buy a house I would need to buy in regional Vic, and you would still have to spend $600k" WTF? Seriously!? Unless you're on the waterfront, you'd struggle to find a place listed for $600k or more in Geelong, and we're an hour (well 58 min with the Very Fast Train :rolleyes:) from the Mel CBD.

As all us old farts have banged on about for ages, purchasing a PPOR has always been difficult, requiring sacrifice, etc, etc. I seriously think that "people" think that buying a house is a RIGHT, and when they can't buy in that perfect suburb with 4BR, 2bath, theatre room, etc, their personal freedom has been taken away.

Rant over... I'm going to bed. :p
 
As all us old farts have banged on about for ages, purchasing a PPOR has always been difficult, requiring sacrifice, etc, etc. I seriously think that "people" think that buying a house is a RIGHT, and when they can't buy in that perfect suburb with 4BR, 2bath, theatre room, etc, their personal freedom has been taken away.

Rant over... I'm going to bed. :p

It's the governments fault, they should fix it. My understanding is that any negative thing that happens to me, that I am not directly in control of, is the governments fault and their job is to come up with solutions and fix it. I think I will write my local MP and complain. The government should give me more money and make things cheaper.
 
As all us old farts have banged on about for ages, purchasing a PPOR has always been difficult, requiring sacrifice, etc, etc. I seriously think that "people" think that buying a house is a RIGHT, and when they can't buy in that perfect suburb with 4BR, 2bath, theatre room, etc, their personal freedom has been taken away.

Rant over... I'm going to bed. :p

As an old fart I have to say it has become harder. When I look back over the properties I bought as a youngster and the multiple of my wage I paid compared to current value, that multiple has blown right out. I don't really have an issue with that, as towns develop it is to be expected. The trouble is the govt is not creating new cities, everyone just keeps piling into the handful we have, the distance for a median house from the GPO just keeps getting further and further and I think I would rather do many drastic things rather than sit on some of our terrible road systems for 2 to 4 hours a day. Younger people are being wronged.
 
It's the governments fault, they should fix it. My understanding is that any negative thing that happens to me, that I am not directly in control of, is the governments fault and their job is to come up with solutions and fix it. I think I will write my local MP and complain. The government should give me more money and make things cheaper.

they should certainly plan and develop for a growing population
 
It's the governments fault, they should fix it. My understanding is that any negative thing that happens to me, that I am not directly in control of, is the governments fault and their job is to come up with solutions and fix it. I think I will write my local MP and complain. The government should give me more money and make things cheaper.

You are joking aren't you. If you are serious then I do not know what you are doing on this forum. The people here are all trying trying to get ahead using property investment as the means.

The entitlement mentality is not good for an individual or the country as a whole.
 
You are joking aren't you. If you are serious then I do not know what you are doing on this forum. The people here are all trying trying to get ahead using property investment as the means.
The entitlement mentality is not good for an individual or the country as a whole.

Really, you didn't get that? They forgot an over the top eye roll.
 
That's ridiculous.

Conspiracy theorist...

The media report on affordability partly because of talk around the communities by a noisy minority - on social media, no doubt, (and partly because half of the media are the ones who it is affecting and it's their chance to sook) and a comparison of stats from places like the ABS on average wage medians versus house medians, etc..
Back in March, Joe Hockey canvassed the idea of FHBs being able to access their superannuation to use for a deposit. The idea was generally shot down in the media because it would reduce the retirement savings of young people and push up prices.

Now in the past couple of weeks Hockey and Abbott have both made comments that sparked a debate about housing affordability. Now the media are saying houses are unaffordable for First Home Buyers.

What better time to bring up the subject of using superannuation to help First Home Buyers to afford property. The media is now on board.

I'm no conspiracy theorist, but I know how politicians operate.
 
Joe Hockey just let the truth slip out (which is often not liked). Most ppl don't want to hear the truth, they just want to continue blaming so they feel better.

Government (all governments) know its up to individuals to make smart choices when it comes to their futures. Believe me, they know that no matter what policies they make its really not going to mean squat for the large segment of ppl who are just not bothered to better their lives. It takes personal sacrifice and much hard work. They know it (they invest), we know it (we invest). Unfortunately the 85% plus of society refuse to believe it. And they are/will pay for it massively unless they change, IMO.
 
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Back in March, Joe Hockey canvassed the idea of FHBs being able to access their superannuation to use for a deposit. The idea was generally shot down in the media because it would reduce the retirement savings of young people and push up prices.

Now in the past couple of weeks Hockey and Abbott have both made comments that sparked a debate about housing affordability. Now the media are saying houses are unaffordable for First Home Buyers.

What better time to bring up the subject of using superannuation to help First Home Buyers to afford property. The media is now on board.

I'm no conspiracy theorist, but I know how politicians operate.

It?s already been widely acknowledged by academics, economists, and sectors of the media that letting people access their super in order to take out a home loan is bad policy, which will lead to house prices inflating even further.

Politicians generally act for short-term populist interests so what?s going to happen if they allowed people to access their super and suddenly prices skyrocket in the ?affordable areas? where first home buyers are concentrated. Surely there would be public backlash?
 
It?s already been widely acknowledged by academics, economists, and sectors of the media that letting people access their super in order to take out a home loan is bad policy, which will lead to house prices inflating even further.

Politicians generally act for short-term populist interests so what?s going to happen if they allowed people to access their super and suddenly prices skyrocket in the ?affordable areas? where first home buyers are concentrated. Surely there would be public backlash?
There is no backlash against first home owner grants, which essentially do the same thing.
 
There is no backlash against first home owner grants, which essentially do the same thing.
There should be. I have mentioned them on here and elsewhere as pulling forward demand. Though most states have now restricted them to new builds.
 
There should be. I have mentioned them on here and elsewhere as pulling forward demand. Though most states have now restricted them to new builds.

Unfortunately most people aren't very financially educated. They just look at the money they receive and pay no attention to the consequences of it. We live in a country of instant gratification where people would rather take out a personal loan and pay 15% interest each month instead of saving up for a car. Or they'll go into the shops and use their credit cards and purchase big ticket items on '$0 upfront 3 year interest free' type stuff without reading the fine print. Given a significant proportion of the population is like this of course they are going to fail to comprehend anything other than 'wow I got 15k for nothing'.
 
There should be. I have mentioned them on here and elsewhere as pulling forward demand. Though most states have now restricted them to new builds.
Yep.

IMO it was a bad move; was always going to allow folks to pay more - and they did.

The Gubb is always between a rock and hard place; stimulate the economy and appease the masses temproarily and hopefully improve the economy in the process...or cut spending, tell everyone to pull their heads in, save and wait...
 
Where do they get these f-wits from??

Seriously....$600k will get you a palace in the outer suburbs of Melbourne...

You can get a fantastic...place in Geelong. Better still Williams Landing (Laverton) which is a zone 1 station....you will buy a new H&L package for that. If you can't afford that...then 350k will comfortably get something newish in the Western or Northern suburbs near train stations.

These people are just whingers...:mad:

This.

Earlier in the week, someone had called in in response to Joe Hockey's "get a job" comment. "I have a job I love and I can't get paid more. To buy a house I would need to buy in regional Vic, and you would still have to spend $600k" WTF? Seriously!? Unless you're on the waterfront, you'd struggle to find a place listed for $600k or more in Geelong, and we're an hour (well 58 min with the Very Fast Train :rolleyes:) from the Mel CBD.
 
It makes sense that prices will keep going up. More people and less and less vacant land in popular areas to build and accommodate these people. So of course the person with the deeper pockets will get what he wants.

This cannot get any better with time. What are these complainers expecting to happen? As has been mentioned already, majority of people are absolutely terrible with money. 2FAST4U summed it up nicely.

Basically, it will come down to not everyone will be able to afford their own home.

Not everyone can afford to drive around in the newest Ferrari either.

A friend of mine once told me, buy as soon as you can. It will always be the same unless the world ends. Which will happen one day, and all these homes and buildings will sit empty worth nothing and nobody around.

We are just a speck floating in space, we are pretty insignificant if you think about it. Just make the most of your time while you can and stop whinging.
 
Earlier in the week, someone had called in in response to Joe Hockey's "get a job" comment. "I have a job I love and I can't get paid more. To buy a house I would need to buy in regional Vic, and you would still have to spend $600k"

WTF? Seriously!? Unless you're on the waterfront, you'd struggle to find a place listed for $600k or more in Geelong, and we're an hour (well 58 min with the Very Fast Train ) from the Mel CBD.

Or down my way - 1 hour from the CBD:

http://www.realestate.com.au/property-house-vic-dromana-119649291
 
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