Solving the housing affordability crisis

[skater]

Also, I got the feeling that Cupcake was copping a little too much flak earlier on in the thread. He just seems like someone asking a few questions, and unfortunately stepped on the "unnaffordabale" land mine in this den of angry people Thank goodness for the constructive posts later on though

Well, I thought that too, at first. I tried to be nice and explain things more so that a newbie with not much exposure could understand, but then we have the posts like this after many people have put time and effort into trying to help.

Ahhh..now I understand why everyone here is having trouble discussing this issue!

The issue has been discussed over & over & over. I'm starting to believe that Belbo is right & Cupcakes & Beebop are kindred spirits.

I always suspected you were a no-good sneaky little troll pretending to be an earnest inquirer as the causes of alleged housing unaffordability.

But now I know it.

 

[rugrat]

Ok, show me who on this thread wants a 4 bedroom house with a pool and 2 bathrooms ?

Old excuses used to try and hide the affordability crisis. That is 3-4 years ago news. You guys need a new one. Maybe tell people rat invested one bedroom apartments are all you can expect and are teh FHOB'ers dream home for a family of three.

I would LOVE a 4 bedroom house with a pool and 2 bathrooms. Hell, loose the pool and add an extra bedroom and I'll even happier.

At the moment I'm living in a 3yr old mouse and rat infested 'small' 3 bedroom house, with one bath, one living area and tiny backyard. Lots of fun with lots of little kds. But hey, that is what I can afford, and I have memories of growing up in 3 bed housing commission, mouse infested, house myself (6 kids, 2 adults) - so it's actually a step up IMHO.

 

[Beebop]

lol... ok lets see how financial positions compare between those who bought three years ago, those who buy now and those who hold out, save and getting a better income instead of buying.

It is pretty sickening to see another thread derailed by the anti FHBers gruop who won't discuss the issue of affordability and provide realistic advice to them.

Instead we hear more about Wylie's son and have the same old discussion about that...

 

[rugrat]

anti-FHBer group????

What planet are you on????

 

[Beebop]

At the moment I'm living in a 3yr old mouse and rat infested 'small' 3 bedroom house, with one bath, one living area and tiny backyard. Lots of fun with lots of little kds. But hey, that is what I can afford, and I have memories of growing up in 3 bed housing commission, mouse infested, house myself (6 kids, 2 adults) - so it's actually a step up IMHO.

Yeah and when I was star of a 19th century novel I lived in the same factory where I worked and scubbed pots and pans and night at the local Inn to make my fortune out of mass producing candles, returning aged 35 to the Inn where I once worked as a wealthy man and thus ends the story.

You should not bring kids into it to guily other people because it was your decision to have them and no one else's. All people are asking is to be able to afford a value for money property, such as a basic 3 bedroom home.

 

[Monopoly]

Me! I got me one of them! Ducted air-con too!

I've got 2 like that, both with ducted air con, and a heated toilet seat in one of the bathrooms! Great on the touchie on cold days!

 

[skater]

Instead we hear more about Wylie's son and have the same old discussion about that...

OK, would you rather hear about my daughter. She has a deposit in excess of $30k but is on an income of around $35k INCLUDING super. She's looking to buy a 3 bedroom house. Is that better? A young FHB with a deposit?

There is no affordability issue.

There is, instead, a reality issue.

Once you get real, you can afford a home. Simple!

 

[Monopoly]

It is pretty sickening to see another thread derailed by the anti FHBers gruop who won't discuss the issue of affordability and provide realistic advice to them.

Instead we hear more about Wylie's son and have the same old discussion about that...

Hey we're happy to discuss the issue of affordability but there's no point if you're not prepared to listen to anything that is said.

As for Wylie's son, get over yourself matey, you should be so lucky to do as well as he's done!!

And puleese....don't get me started, or I'll just HAVE TO beat you senseless and add accounts of both my son and my daughter into this mix!!!!

 

[VYBerlinaV8]

lol... ok lets see how financial positions compare between those who bought three years ago, those who buy now and those who hold out, save and getting a better income instead of buying.

It is pretty sickening to see another thread derailed by the anti FHBers gruop who won't discuss the issue of affordability and provide realistic advice to them.

Instead we hear more about Wylie's son and have the same old discussion about that...

We're happy to discuss it. It just seems that some people get upset when terms like "hard work", "delayed gratification" and "saving" are mentioned.

 

[bluestorm]

lol... ok lets see how financial positions compare between those who bought three years ago, those who buy now and those who hold out, save and getting a better income instead of buying..

Well going by the experience of a former work colleague 3yrs ago (on a good income), he was one of those that wanted the $600-700K dream first home (said life is too short to settle for anything less). Held out and rented. Now 3yrs later he has to rent even further out from the CBD, and complains about how expensive the rents have become. Still holding out for the "dream " first home, rather lowering expectations, and starting off in a cheaper place, and working your way out.
There will always be people like you Beebop. That's good, more renters in the pool for investors to be choosy and picky from.

While I'm a bear on the forum, and beleive that prices will correct over the next 2years, the current problem is not one of affordability (as there are MANY affordable places in sydney). The problem is peoples expectations.

 

[Beebop]

There is no affordability issue.

There is, instead, a reality issue.

Once you get real, you can afford a home. Simple!

There is a very real affordability issue, however, that does not mean no one is buying a house.

I bet your "daughter" is on an interest only loan in a rural area..

If my work would locate itself in Bendigo I'd jump at the chance to go there. It doesn't work like that.

 

[Beebop]

Well going by the experience of a former work colleague 3yrs ago (on a good income), he was one of those that wanted the $600-700K dream first home (said life is too short to settle for anything less). Held out and rented. Now 3yrs later he has to rent even further out from the CBD, and complains about how expensive the rents have become. Still holding out for the "dream " first home, rather lowering expectations, and starting off in a cheaper place, and working your way out.
There will always be people like you Beebop. That's good, more renters in the pool for investors to be choosy and picky from.

I'm not sure if you are able to read words but I'll say it again in bold text anyway so that if you can read you'll get the message this time.

I only ever talk about affording a basic 3 bedroom home in an outer area. I DON'T KNOW WHERE YOU GET THE DREAM HOME IDEA FROM.

 

[wylie]

Instead we hear more about Wylie's son and have the same old discussion about that...

ONLY because I used his example to help someone on another thread, and YOU keep wanting to challenge his choices.

Stop banging on about it, and let it rest and you won't have to keep reading about him. Does his having the balls to buy threaten you????

 

[skater]

There is a very real affordability issue, however, that does not mean no one is buying a house.

I bet your "daughter" is on an interest only loan in a rural area..

If my work would locate itself in Bendigo I'd jump at the chance to go there. It doesn't work like that.

Wrong! Wrong! Wrong!

Although she is eligable for a P&I, she will most probably go IO with an offset to give a buffer and to use the accumulated funds as deposit for the next property. Oh and by the way, she is in SYDNEY.

 

[Beebop]

Wrong! Wrong! Wrong!

Although she is eligable for a P&I, she will most probably go IO with an offset to give a buffer and to use the accumulated funds as deposit for the next property. Oh and by the way, she is in SYDNEY.

ok, so what 3 bedroom house are you buying on a 35k income in sydney ?

According to commbank, she can borrow up to 152,000 ! Must be a really cheap house...

 

[wylie]

ok, so what 3 bedroom house are you buying on a 35k income in sydney ?

According to commbank, she can borrow up to 152,000 ! Must be a really cheap house...

Why oh why would you use an internet loan calculator, which I assume is what you have done. My son used one of those and his loan amount was piddling. Maybe you need to see a broker?

 

[Beebop]

Why oh why would you use an internet loan calculator, which I assume is what you have done. My son used one of those and his loan amount was piddling. Maybe you need to see a broker?

ok wylie, I want to see how that 152k becomes 350k for a 3 bedroom house in sydney on a P&I loan.. or it is a really cheap house.

 

[Beebop]

We're happy to discuss it. It just seems that some people get upset when terms like "hard work", "delayed gratification" and "saving" are mentioned.

Which is exactly what I constantly get blasted for suggesting. Don't buy now, it is too expensive, save for a deposit and get an income of at least 85k, then you will be fine.

 

[Monopoly]

Which is exactly what I constantly get blasted for suggesting. Don't buy now, it is too expensive, save for a deposit and get an income of at least 85k, then you will be fine.

The key here is SAVE a (substantial) deposit, not the 85K income; there are grown ups in the workforce who don't earn that kind of money!!!

 

[rugrat]

Yeah and when I was star of a 19th century novel I lived in the same factory where I worked and scubbed pots and pans and night at the local Inn to make my fortune out of mass producing candles, returning aged 35 to the Inn where I once worked as a wealthy man and thus ends the story.

You should not bring kids into it to guily other people because it was your decision to have them and no one else's. All people are asking is to be able to afford a value for money property, such as a basic 3 bedroom home.

My upbringing is hardly fiction. Nor is it all that uncommon. I could care less if you believe me or not. It is what it is.

How does my having kids (all very much planned BTW) guilt anyone about anything??? As far as I am aware, I am but one of a very large group of people who have or will have children. It is hardly an elite club. How does my having kids, and having a very basic 3bed PPOR prevent anyone else from acheiving the same???