First Car (home) buyers: Won’t someone think of the children!

Discussion in 'Investment Strategy' started by Car tart, 9th Jul, 2021.

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  1. Car tart

    Car tart Well-Known Member

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    Won’t someone think of the children!
    It’s apparent that our young are being priced out of the average car in Australia. At the age of 17 every young boy dreams of getting his hands on an average car and this government has done nothing to help him! In fact each year the average car gets further and further out of reach for him.

    Taking the cheapest MG at $17,000 and the most expensive the Pagani Huayra at $5,500,000 places the average at $2,758,500 plus on road costs. How, when you reach 17 can this young man be expected to buy not the very best vehicle but something half way decent.

    And not only is the government not helping him but literally stealing from them with the 33% LCT and 10% GST taxes that his Grandfather never had to pay.

    This is the media mentality that is used when first home buyers are looking at buying the average home. My first property was the cheapest unit in Sydney (Harris Park) and nowhere near the average home or quality of my mum and dads home. I note that many of my kids friends rent better homes than their parents own.

    Now is the perfect time to buy a two bed unit at the lowest real price in years. Many are under $400,000.00 yet because it is not of the quality or size that mum and dads house is, they will rent quality until “prices come down.”

    Rant over!
     
    craigc, Propin, Angel and 6 others like this.
  2. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Love the analogy!
     
  3. Stoffo

    Stoffo Well-Known Member

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    Are these the same kid's that throw their used drink containers on the ground ? o_O
    The one's us adults are supposed to be saving the planet for :rolleyes:
     
  4. Shawn

    Shawn Well-Known Member

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    I challenge this.
    I received a lot of pushback from my parents last year when I wanted to buy a fibro house + granny flat in an unattractive suburb 15 minutes from where they lived?

    "You want to live here?" they bemoaned.
    "We want to see you doing better than us, not worse"
    "Think about the type of neighbours you'd have"

    With that sort of family pressure, it really affected my decision.
    Thankfully, I ended up buying the place and the price has risen 20% in the last 12 months.

    However, I am rentvesting in the Eastern Suburbs, dreading my next move as we plan on starting a family.
     
    craigc and Gockie like this.
  5. Car tart

    Car tart Well-Known Member

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    That’s the way it should be. My parents were shocked that I was getting into long term debt at 19 (I couldn’t afford to move into it, so rented it and stayed at home, but three years later bought a cockroach infested unit in auburn when I got married)