Sydney "haves" and "have nots" and social classism

Well, yea you can't buy right off, but if you are sensible then you can have an ok quality of life while still saving 60k/year combined and have a fine opportunity to invest and be comfortable in Sydney.
I did not read "haves" to mean someone who had to sacrifice nothing in life and could drive a new beemer upgrading every 2 years while having enough to buy a 3mil house and have enough left over to invest. If that was the meaning, then yea I guess 200k/person would be needed, but then that also makes a couple with combined pre-tax income of 200k in the "have nots" and I would not really describe them like that.

 

True..but a lot of buyers have money from bric countries, they certainly don't rely on AUD salary earnings.

 

I consider myself a have . We have everything we need and a home.

But we're in the "extreme west" (as coined by an article I read the other day).

 

A common situation for eastern suburbs late 30s / early 40s house "owners" is relying on bank of mum and dad to help fund your mortgage repayments, paying interest only (nobody pays principal anymore, you'd be silly to! Says a rose bay acquaintance) and limiting your social outings to coles sausages and bread on a Friday night with other parents from the local school in your financial predicament! (Topic du jour, Sydney house prices)There are a good number of people genuinely doing well, and and equal amount on the bones of their arse but outwardly look good.....for now.

 

Correct.. Especially the very last part..maintaining the image that they have it all-even if they don't.

 

Assuming this thread is on the money, when interest rates go up and all these maxed out "Haves", (who are, to quote @Il Falco "relying on bank of mum and dad to help fund your mortgage repayments, paying interest only (nobody pays principal anymore, you'd be silly to! Says a rose bay acquaintance) and limiting your social outings to coles sausages and bread on a Friday night with other parents from the local school in your financial predicament! (Topic du jour, Sydney house prices)There are a good number of people genuinely doing well, and and equal amount on the bones of their arse but outwardly look good.....for now."), will be giving up a heap of Bondi Beach properties to a bunch of PChat subscribers, who are buying with their ears pinned back.

@Jennifer Duke make sure when you write it up that Il Falco gets some brownie points...

 

Ha. More like Randwick and the Coog. Hitting up the folks up for money; getting them to reverse mortgage or give you some of their super is the go!

 

The folks are toast, until the May budget when ScoMo starts to wind back the 1.6m super limit... and introduce some sweeteners..

 

Any chance this limited budget approach extends to people wearing loafers but no socks, or guys in super tight jeans that look borrowed from their partners? Or is that fashion these days
Cant tell anymore.

 

Yes a strong correlation between coles sausage sizzle and mid 60's short trouser and sockless brogue look. Audi SQ5 on lease completes the picture. The very same operators will be found to have short arms and very deep pockets at the pub. Often provided a weekly allowance of $30 from the boss. Many a sleepless night thinking about the next round of restructuring at work (for which they are in the firing line). Wondering how they will find another job outside of big 4 or TLS paying $250k-300k for a non-commercial schmuck who is good at playing "mates".

 

I don't get it..why all the talk about Sydney on this and many other posts...Sydney is about the only city in Australia and everyone should buy there .. Irrespective of the price - 500k for a carport? No problem - in 2 years it will be worth 750k and then you will have to park on the street.