Another BS article, destroying the hopes of many reading and believing it.

Many young folks read articles like this and just give up, thinking it's impossible. When in fact the article is so misleading and just BS. 20% deposit recommended, taking now 10 years to save? Ffs. Says who?? I never bought my first 6 places with 20%.

The misinformation out there by other folks who are also clueless!


The end of the article finally offers some hope .

Average first home buyer deposit cracks $100,000 as property market roars

 

I love it when you're at a bbq or something and a non-investor says matter-of-factly how LMI is a scam. They say it with such confidence that everyone around them can't help but believe they know what they are talking about.

It's the confidence that gets me. How they slam down this bit of knowledge like it's one of the pillars of investing. Like you'd be an idiot for falling for it. I die a little on the inside every time one of these "experts" gives out this advice.

 

And how the media misrepresents the median price, giving the impression it is the norm.

I wish they would add that the median amount means than half the sales were BELOW that figure.

 

Yes, for FTBs first quartile (or quintile) price would be a more meaningful guide. Is this available anywhere?

 

The quality of journalism (globally) has gone down and as a direct result of the quantity of articles (with shocking headlines) that have to be pumped out to keep the eyeballs stuck to the screen!

That race to the bottom to compete with the social media is largely responsible for the abhorrent journalism that we have today! I subscribe to FT, The Australian, Fin Review and NY Times and even then the BS clickbait articles that come via those publications are increasing each year.

A decade ago, all of those (barring Australian which some might believe is too right wing) would produce less than 1/3rd of the content they do now but with more quality and more readership and far less sensationalist tinge!

 

I think the problem is the media is very Sydney and Melbourne centric and east coast centric as well. Off course a lot of people live in these areas as well.
I think it’s time for the intelligencia of Australia and economic planners to promote the other cities and give more incentives for businesses and families to move to these cities.
I can understand the emotional attachment issues people have in moving out of where you grew up
With all your family and friends linked in one place. Even encouraging your own siblings and family members to move is a battle. People these days can’t see the benefits of doing so and there is such little wisdom and financial teaching going on these days.
I was say to a friend that for a price of a shoebox unit in middle ring Sydney will get you a house by the sea in Adelaide. My sister always replies “It’s too hot there!”, even though it’s much more humid in Western Sydney on a hot day.

 

What about no stamp duty if moving from interstate?

 

Excellent idea, you should send the government an email with this.

 

Fact checking is not essential for quality journalism.
You can blame Murdoch and his cronies buddies.
Truth to be told - Human have less than 2 mins attention span to consume information.
3 words slogan is all we can accept.