Is it okay that it is impossible for a 21yo to buy a house in their lifetime?

10000000000x perfect example. I know a few families like this too. All from migrant backgrounds and have worked extremely hard to afford their house. They contribute to society and they deserve everything good that comes to them people like this.

 

As the old saying goes:

1. If you believe something is impossible, you are right (for you).
2. If you believe something is possible, you are right (for you).

I have friends and family members who subscribe to category 1 above. And they are in their 50’s and 60’s. Not me.

Be very careful where you point your mental/thought compass.

When I was 16, my grandfather told me he felt sorry for my generation as property was so expensive that we would never own one.

That was nearly 50 years ago. I love my grandfather but I never let his pessimistic beliefs steer my compass.

 

It is really an individual thing as well. I wasted a lot of money when I was younger, just generally having a good time. I was still able to make a comeback though and and basically doing pretty well. It is never too late. I didnt buy my first property until I was 33. Bearing in mind there was no information back then, you had to back your own judgement and listen to a real estate agent as he/she was the only person you could really get real estate information from. Unlike now, you have a plethora of stuff- if i had a forum like this when I was younger , no doubt I would have killed the pig....many times over...cheers

 

Sense of entitlement. It is alive and kicking, even though some like to play it down.

As in your above post, most of those people who come from those poorer countries with many challenges come here and see the opportunities available and jump headfirst.

As much as I love Australia as a country , I'm largely uninspired by much of Australian culture. I'm a lot more moved by the folks who come here from poorer countries and make an absolute go of all the opportunities that the government throws their way.

 

I suppose every country has their challenges, we do get a lot of immigrants here who do "work" the system big time, make no mistake. You would never get away with that in another 1st world country. This is still the best country in the world from my experience and if it was governed properly in relation to "entitlements" then it would be a different story. Nearly every Australian I know has worked their arse off over the years (45-80 age range) but unemployment benefits can be a bane on a society. I do see a spread of young migrants or 1st gens and young Australians buying houses in the property pages and online, which is good and also indicates our multi-cultural population now.

 

21 is a baby. Most 21 year olds don't have anything to their name, because they are just starting out. They should start work & save as much as they can. Then buy something. It doesn't have to be for a PPOR. The most important thing is to get started, and not just make excuses like many people do.

 

From the following table below (2013 so a bit outdated) only $2.6 per $100 of tax goes to the unemployed whilst almost 6 times goes to the aged pension.



Why isnt there the same fervour critiquing of the aged who thought they would be support by the government? Why isnt it crazy that some of these have their own house but get to have their lifestyle funded by the government. Why isnt there anger here that these people are bane's on society? I don't understand the difference.

Anyone who gets $550 a fortnight or $650 a fortnight is probably living a destitute life. I don't envy it and if you are - the option is always there for you to quit your job and experience it.

 

100% agree - but if you ask most people who would classify as a boomer their start is one buying a property in the earlier 21 or slightly later. I would be impressed if someone who is 21 would be able to have the finances to be able to rent a property. They are a million miles away from where previous generations were.

 

Have asked it before but will ask it again.

has someone found a way to turn sympathy into money? Telling people to just do it is at least moving forward. What does sympathy achieve here?

poor gen x, lost their ability to blame the boomers with the recent boom.

 

Nothing.

That's why my stance is always very clear and no BSing around.

 

Yes, they’re the ones that eventually give in, buy at the peak and grow even more bitter.

 

Nothing.
What achieves something is solid advice and inspirational stories. The BST thread would be a good one for young people starting out to read. Along with joining some budgeting Facebook groups. And setting up their super saver first house deposit thingo.

 

I have experienced it. Dont forget a lot of the elderly have retired and paid their taxes, not only that the many thousands in aged care cannot work at ALL. Be also good seeing that you like figures to check to see how many of these poor unemployed people you talk about never work, never pay taxes and end up getting the pension. You are also getting off well the mark of the thread now

 

How a 'mongrel plumber' found enlightenment — and wants you to, too

 

Thats who I rent too they will work 2 shifts a day , requires living close to employment as they cant spend 25% of their spare 8 hrs a day travelling. They will share accomodation to reduce expenditure, seldom eat out if they do it might be a BBQ in the park, know how to eat very cheaply mostly rice and some vegetables some of which they grow themselves. Entertain themselves with karaoke. It takes them about a 6 months or so to repay debts occurred travelling and obtaining work Visas In about 2 years they are already buying their own place or bought some land. I have Filippino tenants who have been here only 14 months who bought land a few months ago which already as had an increase of 10%. They are saving money to build while waiting for the builders to become available in maybe 18 months. They cant believe the money they can earn and what they can do with it such as the cars they can quickly afford to buy. They are here doing Jobs that cant be filled by Australians. They will leave there families , husbands and children to take advantage of the opportunity.

 

Part of the reason the younger generation are the way they are is because the older folk have wrapped them in cotton wool there entire lives. Don't climb a tree Jimmy you will hurt yourself, don't go ride your bike and swim in the river it's too dangerous. It's best Jimmy if you stay inside it's raining outside and you will get dirty.
These dudes from other countries are still tough, they fight on the street for food or to play sport. Some have no shoes yet walk around outside finding things to do because there parents are poor and there towns have no work, they have no toys.
Enter Australia - country built on mateship and a fair go. They arrive and basically see money on trees (fruit trees) they can't believe the chance they now have, while Jimmy is sitting inside under the aircon or heater with a tub of yogurt in front of his xbox. Guess what the fruit trees are only the start, they learn more English get told of better jobs and prospects. oops sorry this is probably the wrong thread

 

E

Except don’t lump us all in the same basket, there are plenty of us Gen Y-ers on here that are not like that at all.

 

I know, sorry I should have mentioned this. There are plenty of hard working Gen Y-ers I know a few that work unbelievable hours and know how to save too. There time will come.

 

I guess the only thing I can take out of this is that the echo chamber of this forum is strong. No matter what facts or statistic is made, a generalist personal anecdote is made in rebuttal to "close" the case.

Don't want to burst your "bubble" but young people work harder than ever before. Gone are the days when you left work at 4:55, or had a job for life. These days working till 10pm is seen as BAU, and if you dont like it, someone will take your job. Talking to older workers they talk about the glory days, where a minute past 5, was a minute of overtime.

All of this is irrelevant to the discussion of whether or not everywhere in the country is "booming" and further pushing up the cost of housing. Not sure i have the same sense of triumph as many do here as i am not a fan of a continuing wealth divide. Look through history when the wealth divider has widened and the end result is not pretty.

 

As I mentioned in next post down I did not mean every Gen Y-er. and know a few myself that work crazy hard. Probably should note there were and are plenty of older folk who do not like hard work either.