This millennial reckons baby boomers have had it 'too easy"

Really!? How? I am listening...

 

I will tell you in 20 years .

I am 64, so I have been through two x 20 year cycles.

I owned a lot more property at age 44 vs age 24.

I own a lot more property at age 64 vs age 44.

In 2008, at age 52, we thought we had bought our last property.

In 2010, we retired. Over the last 10 years, while in retirement, we have bought far more property (in $ terms) than we did in the 54 years prior to retirement.

I am “dribbling at the mouth” at the opportunities In the next 20 years. Property crash? Low interest rates? ...

Some will make lemon juice; I will be making lemonade .

 

Pretty much the same here, but I like the above quote because.....around 5 years ago Hubby retired from the work force & I thought we'd bought our last property. Being heavily rent reliant with only a dribble of shares thrown in, we are unable to get finance, yet last year we bought our most expensive property ever. The year before we bought two other properties. He recently turned 55.

I'm sure it's not over yet.

 

It will be over for me when they put me in a shoebox and drop me down a hole .

 

Maybe you won’t stop even then. But don’t buy up the whole cemetery, please! I am on a queue. And I am not keen on your future ppor...

 

Better than jumping on a conveyor and going into a furnace .

 

And live in an apartment?

 

Personally, I don't care what they do with me when I"m done. Take any spare parts they want, then they can dump me in a hole, put me in a furnace, or dissolve me in acid. I don't care.

 

Haha, like all advice given on PC, "seek professional advice". And the disclaimer: I am not a qualified professional. Sorry to be silly, it is a Saturday morning... Why not stay in the right course and talk about property investment instead... Hahaha.

 

Ah yes I should’ve been limited my comment to metro Syd and Melb. And maybe a few oddities here and there like Hobart, Canberra or Darwin at select periods from what I understand.

I think in this day and age, the big cities is where you’ll consistently make returns. Same as London, Hk, Vancouver, Shanghai or Tokyo (yes it’s been going up). Maybe not NYC then again. If you venture outside the big cities it take a lot more skill to pick cap growth trends I think.

 

Oh they’re everywhere lately mainly in Melb (seeing things offered 20-30% below previous prices) and Hk (about to boom I think). I see so many opportunities recently I don’t know what to buy. Limited capital of course is the issue.

 

Well parts 2 and 3 are the rise of the dual income household and net overseas migration.

Perhaps we can send this kids down the salt mine? 4 income households should get prices moving. Or we can keep importing working age folk to widen the base of the pyramid.

 

Apology accepted Can you see how we get our feathers in a ruffle when the Youngies tell us about how we "should" have done whatever they can do now with the benefit of Internet research, compulsory Superannuation and other things that didn't exist 50 years ago?

PS, we aren't all on high incomes with excess disposable incomes either.

 

The Chinese Govt is going to fix everything up this Sunday? I heard people smuggling is doing very well among the boat owners, true?

 

Ah yes hindsight is bliss also. The major city trend seems set to continue, but like most things there’ll probably come a time for SEQ again, maybe. Happened in the Japanese boom era did it?

 

Oh yea depends what you mean by “fix” hahaha

 

The comment about hk going to book. Really??
Seems like there will be a mass-exodus from hk soon. Many still hold UK passports. Excess supply of (what is mostly..) high rise units makes it seem like appreciation and/or rental increases is unlikely for the next few years at least?

 

Also, as I said before, capital growth is important when starting out. Vitally. You rely on that equity releasing from said growth, to put that down as deposit/down payment on IP #2, #3, #4 etc.

But for me, 15 years in and I've massively shifted to rental income as my focus. Income I can see and touch, every damned end-of-month.

Once I calculated how much post-tax income I needed each year, to live a comfortable life in perpetuity; it was easy to work backwards to see how much pre-tax/expenses rental income I needed, to hit that number.

Now that I have hit that number (touch wood rental crash doesn't destroy it, that is!) I have pivoted to massively paying down the debt securing them.

In these dirt-cheap interest-rate times, combined with frugality in personal life/expenses and maximising every dollar of property income + PAYG income, it isn't that hard to start really chipping into those mortgage debts.

Sprinkle in a refinance or three along the way (to the cheapest rates you can find for the mortgage-features-product you need) along with some VERY generous incentives paid by some banks TO refinance to them (I just got $6K from St George for moving two loans to them, not only got 6K cash which went straight into the offsets, but the interest rates are 0.3% CHEAPER than the incumbent lender I was with!); and you have a debt-snowball strategy; rolling down that snowy mountainside towards the town of "Debt-free"

(Google debt-snowball and debt-avalanche strategies if I've lost you on the above comment..)

If you hustle during these times, like others said, you will spot the supreme opportunities to make lemonade

 

How are people buying properties when they are retired? How do you even get bank loans? Can someone explain this to me?

 

You buy with cash