What does "affordability" mean to you?

[Monopoly]

I thought i posted a reply but cant find it lol so here is my reply to you mate

Mate why are you just focusing on those 3 letters out of the whole paragraph? Sure PhD probably wouldn't mean nothing to you but im sure it does mean a lot to my wife. i aint highly educated i just have my Uni Degree its just my wife happens to be more determined to continue studying while she still brings an income.

I was simply mentioning what she is doing..i believe she is doing a great job working part time and doing her PhD and other projects.now the reason i mention this is tat all we hear from you guys is "AWW STOP WHINING DO 2 JOBS earn more money". well we are doing just that.i also have a hobby that brings me cash.

Oh I'm doing just fine mate,don't you worry. i wouldn't have a good deposit if i didn't know how to manage my money.

If I may clarify to you, mate...I'm a female (but I guess the avatar can be deceptive)

I only focused on those few lines because you seemed to be making a song and dance about how academically titled your wife is, which by the way, I commend her for....all I'm saying is PhD's (albeit admirable to have) means little aside from getting you a better paying job, if you're going to throw that money down the toilet on foolishness. I said I have 2 PhD's myself, but they account for nothing to me NOW because I am retired, and have been since the age of 39 and not because of my PhDs but because of HOW I made my MONEY WORK to build a hefty portfolio which incidentally included "dumps" such as the one you refer to in the link (above).

So chill dude....no-one really cares what you do or how much you make (even on the side), if you've got nothing to show for it, it's all temporary (well I think so).

 

[sammyla]

Our work here is done ..... Sammy and his wife can enjoy life and continues renting and making us evil landlords more wealthy - bring it on!!!!

Well i'm not sure if you will get any Richer mrsdawnrazor i hope you wouldn't get less richer due to falling prices of any property you hold.and you know i might hunt at the right time and i think time is fast approaching, there is no rush for me lol. the way the property market is performing i think a lot of people will be a lot poorer in 2 years and you know the one thing im happy about? i wont be one of them as i still have my money in the bank lol

 

[Monopoly]

Well i'm not sure if you will get any Richer mrsdawnrazor i hope you wouldn't get less richer due to falling prices of any property you hold.and you know i might hunt at the right time and i think time is fast approaching, there is no rush for me lol. the way the property market is performing i think a lot of people will be a lot poorer in 2 years and you know the one thing im happy about? i wont be one of them as i still have my money in the bank lol

Mate, with your money tucked safely in the bank the only ones getting richer will be them, not you!!

 

[VYBerlinaV8]

Well i'm not sure if you will get any Richer mrsdawnrazor i hope you wouldn't get less richer due to falling prices of any property you hold.and you know i might hunt at the right time and i think time is fast approaching, there is no rush for me lol. the way the property market is performing i think a lot of people will be a lot poorer in 2 years and you know the one thing im happy about? i wont be one of them as i still have my money in the bank lol

If seeing the value of an asset go down bothers you that much, I'd suggest never to invest in anything other than cash deposits.

For me, though, the longer term is what matters. I've already seen plenty of growth, and have a portfolio that is positively geared. If we get some short term stagnation, or even drops, I don't actually care. In 10 years time I'll still be borrowing against these same properties to increase my shares holdings.

 

[Aaron Sice]

i feel so dirty being GenX/Y border right now.

so dirty.

i think i need a shower, but even then after using the industrial floor scrubber and the solvol, i'm not sure i could stop the cringing everytime someone from my generation opens their mouth.

 

[VYBerlinaV8]

i feel so dirty being GenX/Y border right now.

so dirty.

i think i need a shower, but even then after using the industrial floor scrubber and the solvol, i'm not sure i could stop the cringing everytime someone from my generation opens their mouth.

You and me both buddy. I was born in '75, but identify strongly with Gen X. Gen Y are a mystery to me...

 

[Aaron Sice]

i think BB/X and Y are a mystery to me and i'm 1980.

it seems i'm born about 75 years too late - it's the builder generation that make the most sense to me. i can strike up a conversation with an 80 year old and have more of a good time with them than i can a 25 year old.

 

[vbplease]

I'm the same age too Aaron, and must admit there has been a big change in my psyche in the past couple years.. perhaps what my parents were saying all these years is true Glad they're not on SS to read this!

I'm still in shock that someone thinks the $400k Dandenong prop is a dump.. I think a few spoonfulls of concrete are in order.

 

[skater]

i feel so dirty being GenX/Y border right now.

so dirty.

i think i need a shower, but even then after using the industrial floor scrubber and the solvol, i'm not sure i could stop the cringing everytime someone from my generation opens their mouth.

Don't worry Aaron, we know not ALL your generation are the whinging, want everything now, lazy type. There just seems to be a recent influx of that sort to the forum.

 

[ldriver]

Don't worry Aaron, we know not ALL your generation are the whinging, want everything now, lazy type. There just seems to be a recent influx of that sort to the forum.

Agree. We have a gen X and Y difference in our family, but even my little brother knows he has to begin.

 

[ldriver]

I think affordability is when my little brother, who has just started working, can still buy in the location he wants- it doesn't need to be a house.

 

[skater]

I found your story to be rather boring. You got married and had kids before you were financially secure and made poor decisions.

If you'd had a sense of economic smarts about you, you'd have known something big was potentially coming and would have held off with your purchases.

You opened a business. You took a risk. What did you expect ? That it would always be all sunshine and roses ? So what ? You had a few tough years BECAUSE OF YOUR OWN CHOICES ???

I have no sympathy for people who claim suffering on the way to success of things they actively chose to inflict upon themselves.

Your story is also in no-way relevant to housing affordabilty of today.

Also... you bought land for $5000 ? I am supposed to feel sorry for that why ?

You sit back, do nothing and say that everyone else who has worked hard for what they have is lucky!


Again, you did not read what I said, or you did and could not comprehend it. I'm guessing you either have a bit of a learning disability with the English language or are being purposfully condescending. Don't get me wrong, I have no problem with those that have disabilities, and if you do fall into that category, then I'll just stop replying because it would not be fair for me to "pick on" you if you genuinely are unable to understand.

If on the other hand you are what I believe you are, you deserve everything you get.

Firstly, I did not buy land for $5000. I bought a car. The land was out 'woop woop' at the time.

Secondly, can you tell me how it was my fault that interest rates rose to 17-18%? Was it my fault that my Husband was retrenched and there was no work available? Oh, and it was NO WORK, between us we were willing to do ANYTHING, not like the pampered of today who say "I'm looking for work, but I can't find a job in (insert category).

 

[Aaron Sice]

"lucky" is what lazy people call those who work hard.

 

[The Y-man]

I'm still in shock that someone thinks the $400k Dandenong prop is a dump.. I think a few spoonfulls of concrete are in order.

House itself looks fine - BUT I must admit, even the biggest of my staff members who does kick boxing as a hobby fears to tread the dreaded grounds of Dandy! (the place has a pretty fierce reputation)

The Y-man

 

[skater]

House itself looks fine - BUT I must admit, even the biggest of my staff members who does kick boxing as a hobby fears to tread the dreaded grounds of Dandy! (the place has a pretty fierce reputation)

The Y-man

Lil does most of her competitions at Dandy!

Of course, that only says that she knows where the sports centre is.

The last time we had Nationals in Vic, we spent some time in Dandy & didn't see anything too shocking. Will be there again this year.

 

[rugrat]

Affordable for me, if being able to make the repayments on 'something' (the 'something' will vary from person to person and what is 'needed' - not nessecarily what is 'wanted') while still have enough money to pay for 'nessecities' (which are 'needed' to live, not just desired as a better option). Mobile phones, eating out, internet, foxtel, gym membership, etc are is 'most' (no all) cases NOT nessecities. Basic food, fuel, gas, electricity, rates, etc are nessecities.

I think the problems are 'Priority' problems. Not 'affordability' problems. If you prioritise the luxuries you may not be able to afford the property. Nothing wrong with that, it is a personal choice. But it is not an 'affordability' issue. It is a 'priority' issue.

 

[Xenia]

I can "afford" something when the emotional pleasure of having it overrides parting with the money.

when I have made a choice to have it.

 

[mrsdawnrazor]

Well i'm not sure if you will get any Richer mrsdawnrazor i hope you wouldn't get less richer due to falling prices of any property you hold.and you know i might hunt at the right time and i think time is fast approaching, there is no rush for me lol. the way the property market is performing i think a lot of people will be a lot poorer in 2 years and you know the one thing im happy about? i wont be one of them as i still have my money in the bank lol

Which property market are you talking about - there are many all at different parts of the cycle.

I would love your certainty. I invest in property and I dont know when the right time is. I have never professed to be able to time the market, I will leave that to experts like you, however 2 years is Waaaaay to short a time to be talking about in terms of investment.

BTW - money in the bank and the affects of inflation. Every dollar you have in the bank is worth less each year due to inflation, likewise every dollar in debt I have is also worth less. Inflation is my friend even without capital growth, inflation is your enemy as a saver.

 

[Ridin-High]

BTW - money in the bank and the affects of inflation. Every dollar you have in the bank is worth less each year due to inflation.

In Australia to my knowledge (feel free someone to correct me if i'm wrong) Savers are actually beating inflation by a small amount, this also depends on your tax bracket tho as well.

*Inflation is what about 3% P.A?
*Savings in a term deposit (6% with CBA 12 months)

6% times 0.7 (30% tax bracket) = 4.2%
6% times 0.55 (45% tax bracket = 3.3%

So both all tax bracket people are slightly better off then inflation by saving.


America is a different story

*Inflation = 2.5%?
*savings in term deposit (0.4% with Bank of america)

I have no idea on american taxiation issues, but its plan to see that savers are owned by inflation.


I won't bother going into depth with my comments on house pricing, but i'm finding it very hard to see 30% nationwide drops like some people claim here, i would say its wishful thinking by the people

Regards,

RH

 

[Ocean Architect]

Oooopppps!

I can "afford" something when the emotional pleasure of having it overrides parting with the money.

what about heroin?

...I detect a hole in your definition