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

That's how we've been doing it! You don't need a loan, if you don't need a loan, if you catch my drift.

 

Yea I think that's temporary - HK was never driven by HK or expats in the last 10 years anyway. What matters is China capital. The exodus has created some cheaper second hand properties here and there. But once borders open and security law is passed, mainland capital is likely to flood in. They are already flooding Beijing/Shanghai/Shenzhen. They're just barred into HK at the moment.

CK just released a new apartment block in a pretty far spot in Kowloon, called Sea of the Sky. 259 flats were for sale. 8000 people put a deposit down. It's probably comparable to Blacktown or Broadmeadows. Now they need to draw lotteries to see who gets the privilege to buy a 42sqm apartment for A$1.4m. One of my friends who's a doctor drew lot "1001" a few days ago, meaning she needs the 750 of the 1000 people ahead of her to basically forfeit their right to buy for her to be able to buy. She's pretty devastated.

 

I will give you a hint:- there are other ways of obtaining an income besides salary/wages .

 

how true
We won lotto living in Oz, so many opportunities you just have to be prepared to do the hard yards

 

If you are a boomer and don't think you were kissed on the **** financially as a generation you just don't like looking at the numbers.

However, we all have to play the hand we are dealt in life and there is no point complaining about things that are outside your control. It doesn't do millennials any good to compare where any generation has started from. Just got to do the best you can with what you have been given.

 

My two daughters are in their 20s both doing well, both planning to buy houses next year, taking advantage of various markets and government opportunities ie grants

They never complain and never explain, just get on with it.

Just no point comparing, such a fruitless exercise

 

When we lived in Bris I could easily see my kids buying a place each. The options now that we are down in Melbourne are significantly reduced/worse.

 

comes down to where and what product. It may not be inner city and may need to change expectations. Also I expect some price adjustment dependent in impact on economy

 

You are exactly right. Pay twice as much and instead of living 5km from the city in an apartment consider living 15km from the city in an apartment. Now if Sydney and Melbourne continue to increase in value equal to or faster than the other cities it will only get more difficult for Australians to move to the two largest capitals.

 

A few years ago, I bought my very first property in East St Kilda for $26,000 (see Note below)

If one listens to all the naysayers, COVID-19 might produce those property prices again .

One should be careful what one wishes for .

Note: okay, it was 40 years ago.

 

Lol Chinese money isn't coming back.

 

My boomer parents literally lived on trains because their parents they could not afford accommodation. They bought a run down apartment in an undesirable area then a house in the far flung west of Sydney. Now with healthy super and a decent property paid off they are the kind of people millennials hate

 

The wages on offer in the cbds of both melb and sydney are insane. So yes some areas near the cbd are very expensive.

Despite that, Melbourne still has plenty of lovely areas with affordable housing within 30-45mins to cbd.

So I dont think prices are that far detached from incomes. Plenty of places for Aussies to buy.

 

Lmao. You just don't get it. Your parents would have zero hope today. Zero.

 

So why do we have this mentality
Them and us?

Is it just on PC and media beat up???

I dont see this in the real world

I am surrounded by many millennials Who are just looking at getting ahead and rarely compare but looking at building wealth their own way

My nephew and neice are now successfully developing property. We meet up all the time, I am so enjoying this and learning from them now

 

I

Because of the difference between objective facts and what feels nice emotionally through anecdotes about your nephews who have rich parents.

Young people buying are not always wet behind the ears 22 year old. Many are 30 something seasoned professionals with family help and larger deposits. Buying is freaking hard.

That is the reality of it live with it and move on or vote to change it.

You don't have to hate boomers to acknowledge this, why is having it easier such a bad thing ? I find it incredibly vain to always want to think you did it hard.

 

I do not subscribe to absolute statements. My son is a millennial and is busy looking at a property to buy. Certainly non zero for him and for many others - MTR's children for example.

I can sympathise that starting from zero is always difficult as I once was as a student and learning something to earn a steady income. From that vantage to now (40 years later) is vastly different. Even then, comparatively my son is in a financially strong position faster than I was at his age.

Deal with the dice you have.

Certainly spending time complaining may be seeking a political solution from the government to transfer benefits with less work by the individual.

 

This is what I find difficult to understand, why is it so hard to buy?


there are many markets, many ways to skin a cat

My nephew purchased in Newcastle on my recommendation as a good market at around $300,000 at the time then jumped back to Perth, with their profits

I never said I did it hard, to be honest I was just persistent regardless of age this is pretty important, as its not always been easy, cos life happens which can impact on anyone. Such as. Divorce, health issue, job loss etc

 

Yes, like this.... deal with the dice you have

 

Because it objectively is but I don't really understand why you care ?