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

And i bet there are no boomers on here who had to scrap like those recent immigrants referred to, despite the implied comparison.

 

Sackie, you dont sound the least bit entitled. Lol

 

Ha. I honestly think every generation has had its pros and cons and in every cohort you get people who don’t really try and those who make it their mission to defy the odds. The verbal beating up of other generations serves little purpose unless it’s well received banter.
We can’t change when we were born but we can change what we do with the life we are given.

 

But they were not wrapped in cotton wool either, again I don't mean every single one of them.

 

These jobs cant be filled by Australians as most of the time they are below what is perceived to be minimum wage. Like farmers complaining they can't find workers to pick fruit, the only option is immigrants who we treat like slaves, barely earning enough to survive.

These immigrants work their arse off - and good on them. But are younger generations expected to live in squalor so they can afford an ordinary house? And what does that prove? Australia is a country of great wealth, and we should make it easier for future generations every day. I want my children to have a life more comfortable than i did, we shouldn't be looking at ways to dilute the standards of our country to make it slightly better than a third world country?

Also as a bypass the idea of curtailing spending to save for a house is a terrible notion for the economy. Although i agree frivolous spending can be wasteful spending, a young person spending money at a cafe will create more jobs, which will then create more services, which then create more jobs etc. This is a good thing. Saving to spend money on an unproductive asset (existing house) does none of this. I know this idea to save up for a house is beneficial to a property investor, but don't act like it is good for the economy or society as a whole.

 

A house is a unproductive asset? I'm sorry that is 1000% false. I've been subsiding cheap rent to people for more than 15+ years whilst I'm absorbing all the maintenance and cost of holding the property. Government housing is not sufficient and nor should it be provided to everyone. Only the very needy or disadvantaged.

The rent is paid to me --> I pay my mortgage and agents and councils and tradies --> that in turn goes back into the wider economy which you mention buys coffee's at the local shop and its a merry go round.

Please.....investing in houses is NOT cheap and NOT easy and I'm sorry to say but all investors DESERVE to get a windfall for it and benefit from it. We are providing a service and contribute IMMENSELY to the economy. Its a business and not an easy one at that.

 

In property terms they were comparatively speaking. It amazes me people on this site wont admit that. Not saying we can turn back time and you have to deal the hand thats dealt, but it is unquestionably harder now for a fhb.

 

Big Thanks to our property investor heroes. How did humans survive before they flooded the market?

 

Money in property investing is made primarily via land appreciation. Land is not produced so it is correct to say that property investment is largely unproductive.

 

Please give me a break.
Anyway who cares. This discussion is off topic so lets get back on track.

 

Geez sorry that i triggered you, i genuinely didnt believe anyone actually believes in what you just said, but now i know.

You invest in property because you make money out of it through rent less expense or through capital gains, not out of the kindest of your heart. If there was no money to be made, we wouldn't have the prices we do. We also wouldn't have people following property like its a weekly sport, clapping on auction clearance rates like their favourite footy team.

In regards to property investing NOT being easy - can we all accept that all investing is a method to create wealth that doesn't involve actual hard work? The idea is making your assets work for you instead of your own personal toil. Thats why i am looking at the share chat in this forum. I am sure the person cleaning the council toilets wouldn't look at you running your business, or me deciding what ETF to buy with a sense of sympathy.

If property investors like you didnt exist - prices wouldnt be as high. However council and tradies would still be paid and maintenance would still happen. Maybe banks wouldn't make as much profit, but there would undoubtedly be more money for the manufacturing, hospitality, retail, tourism and entertainment industries. We all have our preferences for society, but this is mine.

 

I mean let's take that back a step further: if humans didn't respond to incentives.

Are you not asking a little too much?

 

Eldest daughter bought her first property when in early 20's. Much earlier than I did. It's possible, they just have to WANT TO DO IT.

 

This thread is a joke. Monkeys everywhere. LOL

I suggest all you non investors/non property lovers go complain on another forum. Keep on topic.

 

Did you support your daughter financially - give her free board whilst she was working or help with her deposit? Also support is not just financial, your knowledge of property would give her a considerable leg up on those with uninformed parents. Everyone is starting the race of life in different positions - wanting to do it is only a small part of the end result.

 

Buildings are not generally a productive asset, unless they are just have been built. So in initial stage, yes, it busts economy, tradies, council and everyone is benefiting. Once a house is finished it barely produces any viable economic outcome.

Howver, that doesn’t mean that it can’t be an asset in its own right. Gold is a non productive asset, so is silver, unless they are used in production of something else. Yet people stored value in these unproductive assets for millennia. So is all that crypto, yet it has value assigned to it.

Just because all of them (other than crypto) have something in common. They are resource intensive at the start. They generate significant economic activity at the start. Once the house is built, the mine is built, they turn into a store of value. Generating negligible economic benefit.

Is that bad for economy? Don’t think so, unless it turns into a bubble. Otherwise, we always find ways to assign value to something...

 

Umm.....how about you go over to SS and read my story. A quick summary:

Two years of eating nothing but rice, noodles, baked beans etc. Lying on the floor while 9 months pregnant sewing the carpet together because it was threadbare & we couldn't afford to replace it. Everything we owned was secondhand, & the house was full of holes leaks. I could go on, but heck, no BBs did it hard, did they?

 

Dueling echo chambers. Outside, reality continues.

Or is reality just how it applies to each of us?

 

NO

NO

NO

The internet is free and available to all those 'uninformed parents.'

Wanting to do it is the ONLY thing that matters. Everything else is just noise.

I could give my child a deposit and free board, but she would only buy something if she actually wanted to do it. If you want something badly enough you will find a way to do it. If you can't find a way to do it, you don't want it enough.

 

Hey @skater your friends here all respect everything about you. Dont spoil your evening responding to the rent revolt crowd.