Time for the Baby Boomer to Pay Their Way.....

Not quite THAT lucky

 

Yeh look I’m not saying boomers are bad people. I just have a different view on the things above.

Government rules, changes regulation shifts will happen. But the government over the last 20 years has been run by boomers. Not by the people in primary or high school. But the long terms impacts won’t be felt by boomers. They will be felt by younger people. This is a point of frustration for many. As they feel politicians have more in this last period than any other put their own needs first.

I’m not advocating for lack of personal responsibility. I don’t think anyone is. I think It just the combination of increased education pressure and cost along with increased housing cost and now movement to increase healthcare cost make them feel they are getting a tough break. And for the large part I agree.

I also think we do have the power to change our environment.

As for peoples comments on luck. Yes you can do many things to improve your circumstances, nobody would deny that. I just think there is a lot more external factors that impact your success than many of us who are successful like to believe. It’s similar to the concept of “job creators”. I fit the qualification for a “job creator”. But I believe the economy and the people create the market, and I’m just lucky to be in the spot to harness it. If I died tomorrow someone else would take over and harness that market.

So basically, fundamentally I just don’t think we do enough to help young people in what is a difficult structural economy. Low wage growth. High cost of living growth. We just tell them to work hard and suck it up and stop complaining.

I don’t like that about what we have been doing as a country for the last 10 years.

 

Yeah mate, all dumb luck. Had nothing to do with analyzing markets where I could add value via renovate, then sell to roll on profits to more reno deals to build chunks of equity. I guess it was also dumb luck that I got myself into joint ventures overseas in Asia and currently have 7 (smallish) coffee shops as well as real estate in mainland that has quadrupled in value in some areas. I guess it was also dumb luck that I've made more profits via my own JVs and developments in Australia.

Its all anecdotal and dumb luck I guess.

 

Your own personal story is literally the definition of anecdotal.

 

If it was so easy; why have you not made a fortune from it? Dumb bad luck?

 

Being in primary school in the 90s was a factor. I knew I shouldn't have taken 6 months off to go Europe in Year 5.

 

Anecdotal, I know, but I have never heard of governments being run by school students.

Give it another 20-30 years and today’s younger people will have their turn at running the country. I hope I am around to see their decisions.

 

Yup. And it’s quite sad they have to wait 20-30 years for someone to think about them.

We should all be ashamed of that.

 

I was in primary school in the 90s too. That didn't stop me from gorging on the 'low hanging fruit' you have referred to though.

 

I congratulate you on anecdote. Look at the broader statistics.

 

@Timb89 I congratulate you on your congratulation. Also, have you considered applying your energies to building your own wealth rather than calling for an economic revolution and arguing with people online?

 

It can be two. ?

 

It's telling as to the pervasive and obsessed nature Australia has with the property market when unless you think property is a good value investment, you must not be investing.

It's also telling that debating against the church of the Australian property market and suggesting "radical" changes like removing negative gearing and not lowering interest rates to 0% is considered economic revolution. Really? Is that your genuine position?

 

Some people who bury themselves in statistic's and multi-coloured chart's miss the total picture..

When i started in re the interest rates in 1983 rates were 22 percent and that was outside the bank but chained linked to the enity of the bank and as you say the dumb zones--early 90's from memory was around 12 percent and most statistics will only tell you what's happened only up to one month ago ..For the past 20 years in this site and a few other's so many have came and gone with the same idea ..Anticipation trouble is the key strategy in any market does not matter if it's a 20 cent small cap start up that u buy for 20 cent and runs above one dollar after tax or real estate..

 

My God, I wish I had that graph 40+ years ago, back in 1977 when I started investing in property .

Can you post a graph for the next 40 years so we all know the dumb luck zones in advance. That would be a big help for all those dumb investors like me .

Not in hindsight like the graph you posted above. We can all appear smart when we are quoting the past .

 

Agreed, you didn't have hindsight (my point). Therefore it was either luck or you somehow foresaw the unprecedented growth of the Australian property market. In which case, why would you need me to post a graph if you knew exactly what you were doing?

Just to reiterate my previous comment: Don't get me wrong people still worked hard during this time, but for disproportionate and unsustainable results then can't be hoped to be achieved by people working equally as hard in the present day. Just an unavoidable fact sorry to say. And if those returns could be seen again, my vote would be to avoid that and steer our national investment strategies to more productive/diverse endeavours, as I believe it is in bubble territory already.

 

Ummmm.......I didn't say that

 

I've consulted my crystal ball and all I got was "no more money for you!!".

Noooo faaair.... I have no other choice now....all I can do is rely on dumb luck at this point.

 

Ya. It was the other poster

 

But you do. Post the graph for the next 40 years (my point).

Neither of these.

I could post why but you would call that out as anecdotal and we all know how you feel about anecdotes.

You are such a champion for facts. Well, on this occasion, your facts are crap.

You don’t have the graph, do you? C’mon admit it.

So, you do have the graph. C’mon post it.

Sorry to say, that is not a FACT. It is your feeling or your belief or your hypothesis or ...

Ah, now we have a belief. So, you don’t have the graph.

You may be surprised but I don’t agree with your belief. I know this is anecdotal but my home town (Toowoomba) last peaked in 2012 (FACT) so I wouldn’t say it is bubble territory