Generation Rent - Another sob story

Discussion in 'Property Market Economics' started by neK, 13th Mar, 2017.

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  1. Sonamic

    Sonamic Well-Known Member

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    I thought the "small 4 bedroom unit" was the giveaway. . . . .
     
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  2. New Town

    New Town Well-Known Member

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    But these are real people with what were once considered good jobs. No need to scoff. I'm sure we all know someone in this position. They have every right to complain and should blame the nimbies and councils that restricted supply leading up to this boom
     
  3. PandS

    PandS Well-Known Member

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    I am lucky I was able to buy and accumulate asset when they are cheap but

    I agree House price are out of control and it stimulates by extra tax benefits such as negative gearing and 50% CGT concession.

    Young people on average salary should enjoy the same housing affordability as when I was on average salary and many generations before them.

    I am all for cut back negative gearing and 50% CGT or get rid of it altogether
    My asset will take a hit but it doesn't me as much as it hurt younger generation who can't afford decent accommodation.

    We should do more to support younger generation and we should do more so the Australia we
    leave behind for them is more prosperous and affordable for them to raise a family and enjoy the same privileges we enjoyed.

    All I see is people with a lot of asset blaming them for holiday, iPhone or whatever else but the reality is housing is a lot more unaffordable for them compared to the previous generations and these same people enjoyed the privileges denied to younger generation such as free education, cheaper housing, generous super and tax concession etc..
     
  4. big max

    big max Well-Known Member

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    They are still good jobs. But the problem is that are complaining are making poor choices about where they wish to live.
     
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  5. big max

    big max Well-Known Member

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    I disagree. I see Capital gains tax as a form of theft and don't think any tax should be imposed on such gains.
     
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  6. TMNT

    TMNT Well-Known Member

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    Where does this entitlement of owning a house come from?

    I can't afford a Ferrari.....

    Do I deserve one?

    I'm not good enough to afford one.....

    I want a Ferrari

    Where's my violin
     
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  7. New Town

    New Town Well-Known Member

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    Problem is a house that is equivalent to an old Holden costs more than a Ferrari
     
  8. JDP1

    JDP1 Well-Known Member

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    I also want a violin..as long as its a Stradivarius.
    Won't accept anything else.
     
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  9. TMNT

    TMNT Well-Known Member

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    and here lies the crux of the argument!

    the nurse in the article seems to be not willing to acccept a brand new $500k 2 bdr apartment.......
     
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  10. wylie

    wylie Moderator Staff Member

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    My boys have similar plans, but have no home phone. But if we didn't desire to have a home phone, we would still manage on the $20 a month plan I have because we would use wifi here at home.

    There's a big saving to be had for a slight tweak in how some people use their mobile phones.
     
  11. TMNT

    TMNT Well-Known Member

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    Young person at work.... Actually mid 30s.

    Got no money. Loans for this and that.

    Presto brand new iPhone 7. 128gb
    Unlimited calls. 20gb data 116per month

    I'm sure it's not a bad deal compared to buying it outright. But geez that's a lot of money.....

    You could get a new 500 dollar phone and stick it on a plan and 50 per month!
     
  12. Ted Varrick

    Ted Varrick Well-Known Member

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  13. fobo

    fobo Well-Known Member

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    oh right thats what my generation are doing wrong, if we didn't have an iPhone the 1.5+ million for any sort of house in the areas we've grown up in would be easy ;)
     
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  14. BKRinvesting

    BKRinvesting Well-Known Member

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    Seriously?
    My parents didn't buy their first place in the area they grew up in. They had to move out to get in at a cheaper and rougher price point.
    Mum grew up in Hornsby, first place was in seven hills (which in the early 90s was pretty rough).
    Where I grew up is now very high prices for anything decent (I grew up Schofields - which amongst all my friends was known for its pungent aroma).
    I moved out and rougher and got in.
    Nothing worthwhile in life is easy.
    I do try to avoid these kinds of conversations but we need to be realistic. Is Sydney over-priced and/or primed for a correction? Yes I do believe so. Is it difficult at this moment in time (ie. late stages of Boom, tightening lending, etc.) yes it is.
    What I'm doing? evaluating options, watching the markets, finding the best place for my money long term.
    Oh and working on increasing my income again and again and again.
    It's all about finding a way to make what you want work.
     
  15. dabbler

    dabbler Well-Known Member

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    1 you do not have to have a house or a house where you grew up, go somewhere cheaper.

    2 if you waste money you wont get the house you would like to have down the track.


    PS I do not have a house where I grew up. I waste my money on investments as much as possible.
     
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  16. TMNT

    TMNT Well-Known Member

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    this is all very true,

    but playing devils advocate, there is only like 7 suburbs in melbourne that are affordable to "average" people, at some point, unless incomes rise or prices fall, this will become zero???

    so what is the solution?

    change our expectations from 3 bdr house with a backyard ( doesnt have to be new or in some super area) to 2nd hand units or even smaller apartments?
     
  17. fobo

    fobo Well-Known Member

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    No problem, if only our government had invested in transport. I don't think its fair expecting people to move an hour + away from work and still spend 800,000+

    For my partner to get to work out west where there is no transport at all, we spend $4,000 a year in tolls alone - not including petrol and everything else
     
  18. neK

    neK Well-Known Member

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    Government is investing in transport.... just not the public type :)
     
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  19. dabbler

    dabbler Well-Known Member

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    fobo life is not fair....whine and complain if you like, but this afforability thing is nothing new.....each cycle the same excuses come out.

    You decide what group you want to be in.

    Also the govt. i.e the people, owe you nothing.
     
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  20. Brisbane04

    Brisbane04 Well-Known Member

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    Hi G Town I'm a nurse who lives in Victoria. I just wanted to address some of the points you made. You are right about ongoing continuing education being a requirement for our professional development and at times I have paid out of my own pocket to attend some education sessions but a lot of inservices I attend are free and have been arranged by my employer. If I wanted I wouldn't have to spend anything and still meet my requirements. Idemity insurance is covered by the union I'm in. AHPRA registration is approx $160pa. I think last year I spent nothing on training, $160 for registration and approx $650 in union fees for a total of $810 for the year
     
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