This is what happens when you "wait for the crash"

I've seen some bitterness before but sweet jesus:

https://forums.whirlpool.net.au/thread/3mjj2729

I know this forum is known for being very pessimistic in general but I was still surprised to read the thoughts of "the average angry fence sitter".

 

Jeepers. Some of those repressed self loathing doomers need some serious psychotherapy.

 

You do realise that the more people that act like that...the better it is for us?

#Just sayin....

 

Unfortunately many simply choose the wrong pill.

 

These are the thoughts of most millenials.
They are or will soon be the biggest demographic of voters.
And politicians want their votes.
Think about what could be coming...

 

I was thinking the younger ones in that group would be struggling ... unless they are like the typical WP poster who apparently is on $200K plus

There must be stats on home ownership by age group somewhere, maybe someone has this info? I don't even really have an idea of the % of homeowners (even if still mortgaged) in Australia.

 

• 15 to 24: 10% home owners, 86% renters
• 25 to 34: 37% home owners, 61% renters
• 35 to 44: 62% home owners, 37% renters
• 45 to 54: 72% home owners, 27% renters
• 55 to 64: 78% home owners, 21% renters
• 65 to 74: 83% home owners, 15% renters
• 75 and over: 84% home owners, 14% renters

But this data doesn't tell the whole story as it does not account for those still living at home which is a lot more than 10 yrs ago.

 

Wow ... and how many in each group are property investors (since you seem to know all the stats!)?

 

These stats used by these are all from the ABS.
4130.0 - Housing Occupancy and Costs, 2015-16

 

Generally, people will believe in political ideologies and beliefs which best serve their self-interests.

Accepting that, your comment is not terribly surprising. They feel a sense of unfairness that they are locked out of a market and will vote accordingly. You probably believe in the status quo because it has served you well.

 

Wow you must think that people my age 30 years ago used to think differently?
Nope, they said the same things and made the same arguments almost verbatim.
Maybe it's new cause nothing else than your little world exists.
And there's no such thing as status quo.
What I certainly don't believe in is regressive ideologies that make people unhappy, miserable and unproductive and consequences of which we have a few hundreds years of.
It it those people that want to go back 250 years that wan the status quo of 2 centuries ago.

 

With respect, what you have said above makes zero sense and obfuscates reality.

If you were a poor 21-year-old with a part-time job earning $24/hour, you would most likely believe that the government should intervene and address the housing price crisis.

If you were a 35-year-old property investor with 6 IPs and a fully paid-off PPOR, you would most likely believe that government intervention is not necessary and that you worked hard for your success.

Do you agree with that?

 

I wouldn't, and didn't. By the time I was 21 I had 2 IPs, I think maybe 3, and was working very, very hard to achieve my goals, living a very modest life at the time. I never believed for a second that the government needs to solve X for me. Was totally in my hands. I knew from early on via studying various philosophical texts and practical case studies that the entitlement attitude leads to nowhere but frustration, idleness or moving back and ultimately failure upon failure. That wasn't a path or outcome I was particularly interested in.

 

The fact that you are the exception does not mean that the general reality is false. Go talk to people, do surveys, look up voter preferences according to socioeconomic areas.

 

True and tbh I know many people my age at the time thought differently.

 

Your comment, ironically enough, is actually proof of my general observation.

I do not consider myself poor nor rich. But I've lived enough to know that people will believe whatever suits them. A poor kid in Africa is not going to have nuanced views on how society should be run in a way that best promotes capitalist values. A retail worker earning minimum wage in Bankstown is more likely to support beliefs that are more to the left. This is not because they are wrong or right. If you gave them lots of money, a few IPs and a good start in life well surprise surprise they become an LNP voter and will claim to have worked hard all their life.

I think that this reveals such a profound truth for all of us, regardless of where we fall on the political spectrum. What is truth? What is good for society? The winners in society are going to want to maintain the current system in which they became winners. The losers are going to want to change society. So who is right? Well, I don't think there are clear answers.

Ultimately, we have a democracy and the majority will prevail.

 

I'm not necessarily disagreeing with that viewpoint. That's precisely the most difficult challenge imho. How to be able to gain enough insight in order to transcend your immediate reality to know you are capable of achieving much more, especially in countries like Australia where opportunities are falling from the sky every hour.

 

Absolutely NOT.
I was a 21 year old working part time, studying part time and with a side hustle, alongside hanging out with my socialist mates though that did'nt last as they soon became full of resentment and anger for anyone that did better than them who really were lazy and selfish.
All while virtue signalling about how they cared for the environment, the poor and whatever else.
Ironically I was a main organizer of few demonstrations and rallies (peace/pollution/disadvantaged) in my teen years, took me a few years to realise that they only wanted to talk and be miserable about the issues and always expected others to actually do something about it.

If I wanted gov handouts and intervention I would've been on the dole.
I also opted out of superannuation. I did not want gov interfering with my money, no matter what taxation benefits they promised.

These same people that rallied and demanded the right to work, when i talked enthusiatically about work, would say "How can you be happy to going to work?".
And here's the thing, 30 years later thay are the same. Still miserable, still full of resentment and still blaming others.

It was only a few years ago that my FB feed was posts about how real estate is crashing and property owners will get pwned.

We don't have a capitalist system. We have a fairly free enterprise system that has lifted more people out of povery in history and is the best thing that ever happened to a large percentage of poor people.

We also have an incremental tax system straight out of the communist manifesto.

The same system that made them winners from nothing is what will make others winners.
Australia is the country with the least wealth being from inheritance.
And while the system is and should be always evolving, 250yo Marxism would take away any opportunity for anyone to be wealthy and reduce most back to gov slaves.
Around 10% of Australians have a net worth over $1m and most did not inherit that.
And you make the erroneous assumption that the "system" hasn't changed for the last hundred years.

Actually Australia is not a democracy. Democratic most times, but not democracy.

 

You are again proving my point. Lots of talk and just empty blabber, all representing subtle and complex justifications for your worldview. As I said previously, exceptions exist. It is no coincidence that people tend to vote for Labor over Liberal in low socioeconomic areas. There is an obvious pattern and it exists for an obvious reason. People will come up with all kinds of fancy reasons and philosophies that best serve their self-interests. Go no further than read your own paragraph.