Will Property ever Boom again
- Thread starter pickle pickle
- Start date
Depends on when they invested, really.
There are plenty of people who invest in property that are currently laughing there a##es off at many so called financial wizards also.
LOLz at peeps thinking they're economic genius for being a contra-anything on a property forum.
Economists? Oh you mean those people stuck in the rat race. 
Hahaha, just doing their rat race job. Who knows?
Of course the average family can afford to buy a house in Australia.
It is just that Australians are too choosey.
You can still buy houses in the outer suburbs of Sydney for $250k...sure it might need a bit of work but someone on a combimed income of $60-80k can still do it comfortably.
The houses at these prices are Kingswood, St Marys, and Mt Druitt.
It is just that Australians are too choosey.
You can still buy houses in the outer suburbs of Sydney for $250k...sure it might need a bit of work but someone on a combimed income of $60-80k can still do it comfortably.
The houses at these prices are Kingswood, St Marys, and Mt Druitt.
Instead of using comparable income/price percentiles (ie traditional measures such as average person/average house) you are stating everything is ok because someone on average income can buy the worst house.
This is changing the goalposts by removing the 50% of the population who are below median. If people of average income live in the worst houses, where do the people with below average income live? If you say "they should rent" then you tacitly accepting a rent/price bubble, and a change from the norm in other countries and Australia's history outside of the current housing bubble.
If anything, I suspect Australia is headed more toward the European model of having more renters, less owners. Of course, this would take several generations to occur, but I would not be surprised to see it happen.
Realistically, do we expect median priced Australian homes to return to price levels where a family on a single, average income can buy, and still maintain the kind of lifestyle most Aussies expect?
Prices will soften over the next few years, but I doubt we'll see a return to the price levels of say, the mid 90's, any time soon.
I agree with this view....
I good comparison is London where rents and property prices have continued to push.
Most people in London these days rent. The property prices are high due to a lot of rich foreigners buying property though the price increases have been a lot slower than the 80s and 90s.
Other cities like Manchester, Leeds, and Birmingham have more potential for larger increases of prices.
I good comparison is London where rents and property prices have continued to push.
Most people in London these days rent. The property prices are high due to a lot of rich foreigners buying property though the price increases have been a lot slower than the 80s and 90s.
Other cities like Manchester, Leeds, and Birmingham have more potential for larger increases of prices.
You have the completely wrong mindset and this sort of thinking will limit your ability to reach significant financial goals.
What are these 'unfair means' people are using? We live in a democratic capitalist society - everyone has the same opportunity. It is those who harness these opportunities that succeed financially.
If you are unhappy about the 'average' family not being able to achieve the 'average' house, don't just winge about it, take some proactive steps to change the situation.
Become above average. Make choices that will lead to an increased income, increase your financial knowledge, and get in the market and purchase capital appreciating assets. If you don't do this and instead continue to winge and say things are unfair, you'll look back in 10 years and be in exactly the same situation, while those who have made better choices will be even further ahead.
