The Entitled Generations

Firstly, I referred to Perth buyers not PC members.

2ndly, I stand by every word in my post. 2 people in similar jobs on similar pay in Sydney vs Perth right now - I know I'd much rather be the person in Perth buying.

 

Wow really. I think its impossible not to instantly hate that person lol.

 

Probably off to get a couple of smashed avo's for breakfast with a few mates and ***** about how unaffordable housing is .

 

I wonder if they would ever run another story on the same demographic about how they shouldn't listen to any mainstream media, or at the very least; take it with a grain of salt?

 

Bought junior a PS4 for Christmas - decided it was time to upgrade from the PS2 - no wonder the current generation can't afford to buy a house - those things are blimin' expensive - throw in a few games, the latest apple phone and a smash avo ...

 

Poor FHO souls. At the peak of the Sydney market and in one of the most in demand suburbs they lost out to investors. And foreign sounding investors at that

And they were really trying as "... this was the fifth auction they had been to since they started looking for a home last year."



'Thanks Sydney, for destroying our dream'

 

Because that's the first thing I want to do when starting my new family... put myself under a Non-deductible mortgage of $1M plus...

"honey, let's start a family",
"Ok we need to move out of our apartment then and get a real home. We maybe we to move a bit further out, say 5km from the CBD?"
"Hmm... sounds like a bit of a sacrifice, but sometimes you have to do these things to start a family and get onto the property ladder"

 

Sanj, once again I disagree, even for Perth (hopefully prudent) buyers. If the capital gain you are looking for is a high risk, your income is irrelevant. So you can make the payments as your income is viable.

But if your CG goes south, than that's not going to be ideal...

 

I think people could stop dreaming and get real.

 

But we as investors need those "why bother trying" types to rent our properties, no? Sure some may get resentful and bitter about "paying somebody else's mortgage" and knuckle down and actually "do" something about it. Some don't mind. Some don't care. Many are happy to rent for life and live amongst the have nots and enjoy a lifestyle never knowing any different. It's a choice.

My fear is what happens to rent for lifers at the end of their working years? 50k PA of your savings/Super going in just rent alone? Then what happens when Super runs dry after a decade or 2? What to rely on, Govt handouts/housing? Pension won't be there to bail you out. What if your parents were rent for lifers too, and there is no property to inherit from them? It's a pretty grim thought in my mind.

This will become a very real scenario for a lot of people in the coming decades unfortunately unless future planning forms some part of mainstream education.

 

I hope to be able to share the video too, can't find it though.

Matt Day's topical comedy on euthanasia wins Tropfest

 

Well - read today that the average spend on a wedding is now $90k ... nearly fell off my chair .. $90,000 is a damned decent house deposit for most locations

 

I couldn't cope when typical weddings reportedly cost $40k. As they say, the more money spent on the wedding, the shorter the marriage is predicted to last, Leyton and Bec excluded.

 

Friends of my partner took out a $60k loan for their wedding. Absolutely ridiculous.

 

Both of our children (a daughter and a son) are married (one just over 4 years ago and the other just over 18 months ago) and each wedding was in Melbourne and cost around $30K each. I thought that was high enough.

Until now, I never realised how sensible and restrained my kids (and their partners) were .

 

What!!!

 

Well it happened over the weekend, my friends GF posted to FB about how their landlord wont let them get a dog and that "They have no right to tell them that they can't be pet owners" and that "They are treated like lesser human beings just because they rent".

I had had a few too many to drink and unfortunately replied to it. It was so much fun but a **** storm started lol.

I suggested they buy their own place and have as many pets as they like.

They didn't like that.

So one of her friends started banging on about how it was impossible to buy a place, I linked a 450K 3br townhouse in Penrith on RE which would cost 535 (probably less than they pay in rent) a week in repayments.

They didn't like that.

They then went on to question me about weather I got my house before the "stupid boom" that priced everyone out.

I responded with "Which one? the recent one, the one 12 or so years earlier, or 12 or so years before that one etc etc."

They didn't like that.

They stopped replying to my posts but I am also pretty sure they didn't like it when I said buying your first home was ALWAYS hard and always will be.

In fact, come to think of it they didn't like any of the reality I brought to the conversation .

This is the problem I find with the entitled generation, they don't like being the blame for their own lives not being perfect, they want mum and dads house as soon as they leave home and they don't want to have to sacrifice, they want the champagne lifestyle yet many of them only really have the budget for beer .

 

If my partner demanded a wedding of that magnitude, I'll tell her don't let the door hit you on your way out. But in saying that many of the Asian weddings actually have people coming out on top with the majority of people receiving money from their family and friends to pay for the wedding, the honeymoon and still have money left over.