Smashed Avocado-Gate - Bernard Salt

Discussion in 'Property Market Economics' started by C-mac, 21st Oct, 2016.

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  1. MikeyBallarat

    MikeyBallarat Well-Known Member

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    Yup, people complain about not being able to buy cheap housing in places like North Melbourne, Collingwood, Fitzroy etc, but the places themselves were very different pre-gentrification. These suburbs were ugly, dirty, cramped and way below the standard of living somewhere like Norlane is now. Nobody wanted to touch the inner city, and it was more fashionable for the professional types to live further out in suburbia. That's gentrification for you!

    I'd also like to know, what is it that people do for work that means they have to work in the CBD? I'm going through my friends, my family etc in my head and I can't rattle off a single name that works in the city. I know many that work western suburbs, eastern suburbs, regional etc but nobody that works in the city.
     
  2. Cactus

    Cactus Well-Known Member

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    Could probably even afford your smashed Avo too.
     
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  3. MikeyBallarat

    MikeyBallarat Well-Known Member

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    Grow your own avo tree in that massive backyard, bake the bread yourself in the gas oven, profit ;)
     
  4. Angel

    Angel Well-Known Member

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    Geelong = FORD

    I have previously considered buying in Geelong but I heard about the car industry years ago now. What have I missed?

    Just like Adelaide = Holden. And Adelaide has pockets that seem to do well economically.
     
  5. Cactus

    Cactus Well-Known Member

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    Not the same, it's the vibe.

    Geelong is a bit more than Ford. TAC DEakin another big govt dept moving there, 50 min commute to Melbourne.
     
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  6. Dave3214

    Dave3214 Well-Known Member

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    Cotton On as well, it's a massive employer now that has grown exponentially over the last several years. It's head office is in Shepherd Ct, and they have a presence all along Separation St. I've said it before but their carpark is huge. many of their employees travel there FROM Melbourne. I think they now have about 1100 employees all together in the group, and would be Geelong's largest private employer. Ford only employed a couple of hundred people in the last months of it's manufacturing here, they had around 5000 employees in the halcyon days of the XF falcon in the mid 80's.

    I'd LOVE someone to open up a Mongolian barbecue restaurant here in Geelong, we had one until the recession of 1991, and have even gone up to the one in Exhibition St Melbourne to enjoy the fare. I am sure a city of almost 200,000 people would be enough for one to succeed. Job opportunity there for someone!

    I work in the postal system, and many people now bring in an income doing online sales. Geelong, for postage purposes is Melb Metro, thus postage is the same as if you're in Melbourne too. There's plenty of work for those diligent enough to look for it, there's probably a fair few people out of work here who won't really be a threat to someone with ready job skills in an interview. I used to drive from Geelong to Werribee and Laverton 20 years ago, it's nice now working just moments from home. That alone should be enough to offset perhaps a slightly higher paying job in a capital city but with commutes of perhaps an hour or more as well. Not everyone is cut out for it perhaps, but for sure it suits me, and plenty of others. Similar story for those in other regional cities like Ballarat and Bendigo too.
     
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  7. EN710

    EN710 Well-Known Member

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    I went to cafe because I want to get away from weekend cooking, have cooked enough on weekdays :confused: if I don't need to work it will be happy to make my own bread though.

    My kind of work located mainly in the city unfortunately, hence why Sydney/ Melbourne, although would be very happy to be proven totally wrong. I had a recruiter from Wollongong once for my profession and that was totally a big surprise :rolleyes:
     
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  8. Guest

    Guest Guest

    I'm just going to leave this here:

    [​IMG]
     
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  9. Perthguy

    Perthguy Well-Known Member

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    Interesting. So if you add together Current housing costs and Food and non-alcoholic beverages for 1989 vs 2010, it's roughly the same?
     
    Last edited by a moderator: 10th Oct, 2021
  10. Scott No Mates

    Scott No Mates Well-Known Member

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    Spending patterns from above indicate that in 2010 the sample group were paying a greater % of income for everything other than housing.
     
  11. Joynz

    Joynz Well-Known Member

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    That's not how I read it.

    The pink dot is 1989, therefore:
    A lower percentage of income was used for food, transport, recreation, misc., household furnishings, household services, clothing, alcohol and tobacco in 2010 compared to 1989.

    A similar amount is being used for fuel and personal care.
     
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  12. Scott No Mates

    Scott No Mates Well-Known Member

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    I meant the 1989 cohort were spending more not the 2010 cohort. Thanks @Joynz
     
  13. kierank

    kierank Well-Known Member

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    To me, it looks like 25-34 year olds in 1989 were happy to live in dumps/cheaper accommodation and wait until their income/net worth increased before they sought more expensive accommodation whereas 25-34 year olds in 2010 weren't prepared to wait and they wanted it there and then.

    Typical :) :).
     
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  14. LibGS

    LibGS Well-Known Member

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    What this shows is that housing is taking money out of other consumption. Guess what happens to an economy that is very highly dependent on consumption, and then consumption goes down. This also shows money that is consumption based and more spread around the economy is now going into the pockets of property owners.
     
    Last edited by a moderator: 10th Oct, 2021
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  15. Phase2

    Phase2 Well-Known Member

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    It could also be that our "consumption costs" are getting cheaper vs our incomes..
     
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  16. vbplease

    vbplease Well-Known Member

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    In your opinion.. What's not to say as property becomes more expensive fho's expectations are getting lowered just to get in the market.
     
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  17. Cimbom

    Cimbom Well-Known Member

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    Wow, great graph
     
  18. wobbycarly

    wobbycarly Well-Known Member

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    Especially when one looks at the "household furnishings and appliances" although a relatively small percentage.
     
  19. vbplease

    vbplease Well-Known Member

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    Or you could just compare wage growth to cpi..
     
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  20. 2FAST4U

    2FAST4U Well-Known Member

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    Yeah but look at cigarettes and alcohol. Both of those products have been taxed immensely since 1989, yet the 2010 generation still spent less on both of those products.
     
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