Sooky-la-la

BayView

BayView

Was watching the 6.00pm Nine news tonight, and the topic of the latest property boom (particularly Melbourne - yay!!) came on.

Usual crosses to the various inner-city real estate agents talking it up, the low rates and those using equity to upgrade to a better/bigger house etc. (for once they didn't blame us greedy property investors for the debacle).

Then, a cross to a 30 year old inner-city renter..(why does the media only ever do these articles on inner city and inner ring real estate? :confused::rolleyes:

He was lamenting the fact that it was so hard to get into the market;

"Unless I want to forego and have a massive lifestyle change, it's probably not gunna be that obtainable in the future".

No shoit, Sherlock.

bwahahahaha! (sorry; a bit harsh, but jeezarz; sook-e-la-la time). :D:rolleyes:

Um; guess the news; every generation before you has had to do that to buy their first house, buddy.

Medium dry concrete, shaken; not stirred, thanks. ;)

(prepares for flaming as the majority of current SS'ers who are 20 something generation get hostile)
 
BayView said:
Then, a cross to a 30 year old inner-city renter..(why does the media only ever do these articles on inner city and inner ring real estate? :confused::rolleyes:

He was lamenting the fact that it was so hard to get into the market;

"Unless I want to forego and have a massive lifestyle change, it's probably not gunna be that obtainable in the future".

No shoit, Sherlock.
Click to expand...

I'm 20 something and will want to smack the head of that 30 years old. None of my friends who bought a house didn't make significant changes of some sort,like buying somewhere unpopular or move out of the city or buy something really small- they don't complain, they take action. TV just want to make it sounds like young people nowadays are entitled little masters.
 
A lot of people just don't know what to do or where to start

I had one friend that saved for 4 years to achieve 20% he just about had a heart attack when I told him he could get in with 5%
 
What we should do guys is axe negative gearing and then this poor soul wont have to give up his 7 nights of social life a week to be able to get a muti million dollar pad in the city
 
One can hardly say that things haven't changed. Up until around 1970, a family home was typically around 1 year's average wages for a single earner. Now it's more like 4 years' average household income for 1.5-2 earners.
 
Perp said:
One can hardly say that things haven't changed. Up until around 1970, a family home was typically around 1 year's average wages for a single earner. Now it's more like 4 years' average household income for 1.5-2 earners.
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My parents built their home for 30k (not sure how much the land was), and they had to omit things from the plan to bring the cost down. They sat on milk crates to start with as there was no money left over for furniture.

People sacrificed then and people sacrifice now. Everyone should harden up.
 
My in-laws lived for years with concrete floors - couldn't afford to put down what they wanted, so just did without - and also without any window trimmings. I do wonder when I hear the new build ads on the radio, for first home buyers - you can choose ducted air con throughout the house! or a chef's kitchen with stone benchtops! or landscaping! I'm like, wow. We don't have that in our own house - too busy spending money on buying more investments, mostly. We have a very ordinary kitchen done in peach laminate, and landscaping at the moment primarily consists of me weeding the bindii out of the front lawn.

Also, who ever said that a four bed two bath house is a requirement for your first home?? I bought a two bed apartment when I was 19, and my husband had a modest 3x1 villa in Balcatta when we got together.

Okay, rant over! :eek:
 
I think if credit was more readily available in the 70s then people wouldn't have lived with milk crate furniture and bed sheets on the windows.

I bought in 2000- I earned 42k and bought a very ordinary townhouse in outer western Sydney for 145k. So similar salary/house price ratio then as it is now in a comparable area.

I used to have colleagues say "you're so lucky" when it came up that I owned a property in the eastern suburbs. They didn't want to hear it when I said it was actually my third property I'd bought and sold to get to that point.
 
mikezen said:
A lot of people just don't know what to do or where to start

I had one friend that saved for 4 years to achieve 20% he just about had a heart attack when I told him he could get in with 5%
Click to expand...
When I bought my first property - my first PPoR, there was basically only P&I.

I had not heard of 5% deposits, IO, low doc, etc.
 
Perp said:
One can hardly say that things haven't changed. Up until around 1970, a family home was typically around 1 year's average wages for a single earner. Now it's more like 4 years' average household income for 1.5-2 earners.
Click to expand...
and in the 1970's, the average house was a 3x1 house.

Many of those homes are now middle ring and have been extended with another living room and another bathroom, a DLUG.

The 3x1 homes that were the FHB home of choice back in the '60's and '70's are virtually non-existent now, and not wanted.

I wonder what this type of house out on the far-flung new estates would cost these days.
 
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BayView said:
and in the 1970's, the average house was a 3x1 house.

Many of those homes are now middle ring and have been extended with another living room and another bathroom, a DLUG.

The 3x1 homes that were the FHB home of choice back in the '60's and '70's are virtually non-existent now, and not wanted.

I wonder what this type of house out on the far-flung new estates would cost these days.
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Actually, that pretty much describes the street where I live. Our estate was built in 1970-2. Our neighbours recently sold their 3 x 1 house for $480K. That is not 1 x average single earner wages.
 
BayView said:
(prepares for flaming as the majority of current SS'ers who are 20 something generation get hostile)
Click to expand...
Actually, there are a lot of very young investors on here at the moment, and they're not the sooky whinging kind. There's a whole heap of them that are buying multiple properties and doing very well for themselves. At the recent Sydney meetup I was very surprised. I felt like I was old enough to be the mother of most of them. Very inspiring!
EN710 said:
I'm 20 something and will want to smack the head of that 30 years old. None of my friends who bought a house didn't make significant changes of some sort,like buying somewhere unpopular or move out of the city or buy something really small- they don't complain, they take action. TV just want to make it sounds like young people nowadays are entitled little masters.
Click to expand...

No EN710, you & your mates are probably of the same calibre as the group I mentioned above, but make no mistake, there's a heap of youngsters with a huge entitlement mentality who will never be able to afford their own place because they refuse to 'settle' and/or can't (read won't) save.
 
Perp said:
Actually, that pretty much describes the street where I live. Our estate was built in 1970-2. Our neighbours recently sold their 3 x 1 house for $480K. That is not 1 x average single earner wages.
Click to expand...

No, it won't be because that area is most probably not in the outer suburbs anymore. BUT there's other estates with established homes in most capitals that FHO's CAN afford.

Also, when I bought my first home, it was a LOT more than 1 x average single wage, and it was the crappiest house in the worst area, but I bought it because it would be MINE.
 
skater said:
No, it won't be because that area is most probably not in the outer suburbs anymore. BUT there's other estates with established homes in most capitals that FHO's CAN afford.

Also, when I bought my first home, it was a LOT more than 1 x average single wage, and it was the crappiest house in the worst area, but I bought it because it would be MINE.
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I'm not arguing that there aren't affordable properties - because there are - or that there aren't people with an entitlement mentality - because there certainly are.

There's a middle ground: acknowledging that it is harder to buy a home than it used to be, but that expectations have also risen.

I'm the same generation as most of you, and my first house was a rundown 2 BR cottage, we struggled to afford it, and we lost a bomb on it to boot. So I get it.

My point is that it hardly matters how far you go out, you can't buy a property for $80K these days. (1 x single average wage.) So houses are relatively more expensive than they were 40 or 50 years ago, and to pretend otherwise simply makes you sound like the Four Yorkshiremen.
 
Actually, there are a lot of very young investors on here at the moment, and they're not the sooky whinging kind. There's a whole heap of them that are buying multiple properties and doing very well for themselves. At the recent Sydney meetup I was very surprised. I felt like I was old enough to be the mother of most of them. Very inspiring!
Click to expand...
Yes, true; and well done to all those folks here in that category - I wish I had been one of them, instead of wandering in as a half-baked 40 something year old..

This site is not yer average human hang-out, for sure.

I was more referring to them probably going to flame me for generally attacking their generation.

There are a few newbs that occasionally come on here that do fall into the S-L-L category, however.

If there are some currently; feel free to flame away. :D
 
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