Commonwealth Bank to begin “encouraged” property sales

The linked article which you quoted does not provide a source for these figures, so I find it hard to take them seriously.

 

It may be cheap but not easy to get...

 

Okay. Another later article with very similar numbers:

Cash savings: how much money the average Aussie has saved in the bank

“The research is the result of an eight-month investigation by Finder.com.au, which polled more than 8000 Aussies of all ages to determine how much they had saved.”​

“Aussies’ ability to save varied considerably between demographic groups. Women, on average, had about $20,800 in the bank. Men had $36,570.​

Baby Boomers – many of who are already homeowners – had $42,707 in average cash savings (not including super or other investments).​

The figure for Gen X was $33,270 and Gen Y had an average $20,629 in the bank. The average for Gen Z – those born in the mid-1990s or later – was $10,802.“​

Two different articles with similar numbers - can you take them seriously now?

Either way, I don’t believe it changes the main message of my post.

TBH, I was surprised the saving numbers were that high .

 

I can read AFR without a subscription. You must have missed the discussion on this topic. Well, can't help on that one.

 

I have more than 5 years worth of emergency fund in my offset. Maybe I should think of deploying that money, now that I'm pretty cool confident with my job security.

 

You got me thinking.......then I found it on Reddit lol

 

I think there's a big psychological difference between having an offset account - and simply having savings in a "savings" account.

Offset - yes definitely worth it
Savings account - at 0.5% taxable - why bother?

 

And some are going gangbusters - like Newcastle - as Sydneysiders are rethinking their options and there was very little, and temporary, local down time

 

After COVID, I believe there will be a golden age.

The best time to deploy will be just before this age starts to dawn.

 

a majority of punters in property do it via leverage, so they care about the lending rate.
after covid, and 5-10 years from that, property price depends on wages growth, lending rate changes, and inflation changes...

what's for sure is there are much more high rises apartments being built, providing heaps more accomodation than before... can the economy support a strong populaton growth, with wages increases is anyone's guess.

may be we do need one belt one road, and foreign workers.

 

The number of apartments in Sydney and Melbourne coming through is almost decimated. From AFR:

I won't post the rest of the article, it is simply waffle, opinion and supposition.

 

5 years?!?!

I never have more than 6 months. Need my money working for me