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Muz said:
Well thank goodness. The more of them bought up by investors and consortiums the better right?
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ah Muz, its the way it went and goes, swings and roundabouts in life no matter the decade, your outlook is understood but you ain't going to get alot of support being condecending towards me or any others hence why I don't bother engaging much.
I agree about the big mobs who are butchering it farfar far more - they are one of the main and more so the crimes hiding behind in the construction Industry.
Maybe go into politics and fight the fight as a kind suggestion or join a party.
 
LFC said:
ah Muz, its the way it went and goes, swings and roundabouts in life no matter the decade, your outlook is understood but you ain't going to get alot of support being condecending towards me or any others hence why I don't bother engaging much.
I agree about the big mobs who are butchering it farfar far more - they are one of the main and more so the crimes hiding behind in the construction Industry.
Maybe go into politics and fight the fight as a kind suggestion or join a party.
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I'll never convince you and I'm not trying to but I find it weird that there's so little empathy towards younger generations who are, for the first time in human history, going to have a worse outlook than their predecessors.

Accepting that 'that's the way it is' is how we got ourselves in this mess in the first place

Did you not see they said it now takes 11 years on average to save for a deposit.

Do you think that's good?

You and I saved for ours in 3 years but, you know, 'whadaya gunna do?'
 
Muz said:
I'll never convince you and I'm not trying to but I find it weird that there's so little empathy towards younger generations who are, for the first time in human history, going to have a worse outlook than their predecessors.

Accepting that 'that's the way it is' is how we got ourselves in this mess in the first place

Did you not see they said it now takes 11 years on average to save for a deposit.

Do you think that's good?

You and I saved for ours in 3 years but, you know, 'whadaya gunna do?'
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Ever heard of Generation Jones? Tail end of the boomers. high interest rate 17%. Low jobs - not much chance of promotions early boomers had those. Stuck behind them until they retire. Super cut in their prime years by Howard and Costello. Higher taxation. Brought in low without all the mod cons and spent next 20-30 years bringing the house up to scratch. None of this brand new, landscaped properly, driveway in, carpeted and curtains ready.

Also no caravans, campers. latest sound system, overseas travel.

This generation is having it tough but plenty have had it tougher, they just expect more but want it all now. And the media tells them that things have never been as bad and they expect a hand out from their parents that are living in a worse house on less money than they earn plus provide free childcare.

Yes - I'm a generation Jones - but realistically living in Australia means by definition you are rich compared to many billions around the world.
 
Saw a clip of people protesting against high level housing being developed in Brighton, Victoria.

Some stuck up cow was banging on about how the area should remain 'nice' for them, and tried to play the sympathy card saying she worked every weekend for 4 years to buy a house there.

lol, you'd need to work every weekend for 100 years to buy a house there now. Any cunt on earth would sign up for that workload to pay off a house.
 
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Football us life said:
There's a lot of those tall & skinny 20+ floor towers going up in various parts of Brisbane and SE Qld but not sure how many rentals come out of them. Somebody is buying them though, probably Chinese...
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None of them are selling much in Melbourne, a builder friend has 10 on the market for ages...
 
Muz said:
I'll never convince you and I'm not trying to but I find it weird that there's so little empathy towards younger generations who are, for the first time in human history, going to have a worse outlook than their predecessors.

Accepting that 'that's the way it is' is how we got ourselves in this mess in the first place

Did you not see they said it now takes 11 years on average to save for a deposit.

Do you think that's good?

You and I saved for ours in 3 years but, you know, 'whadaya gunna do?'
Click to expand...
Sorry, but if an entry level apartment costs 250k and even entry level workers make 80-90k a year, why is taking 11 years to save 50 thousand dollars?
 
patjennings said:
Ever heard of Generation Jones? Tail end of the boomers. high interest rate 17%. Low jobs - not much chance of promotions early boomers had those. Stuck behind them until they retire. Super cut in their prime years by Howard and Costello. Higher taxation. Brought in low without all the mod cons and spent next 20-30 years bringing the house up to scratch. None of this brand new, landscaped properly, driveway in, carpeted and curtains ready.

Also no caravans, campers. latest sound system, overseas travel.

This generation is having it tough but plenty have had it tougher, they just expect more but want it all now. And the media tells them that things have never been as bad and they expect a hand out from their parents that are living in a worse house on less money than they earn plus provide free childcare.

Yes - I'm a generation Jones - but realistically living in Australia means by definition you are rich compared to many billions around the world.
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Hear hear, I DID use my parents and in laws for childcare though... needed both wages :P
 
Monoethnic Social Club said:
None of them are selling much in Melbourne, a builder friend has 10 on the market for ages...
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Is he worried?

You'd think the Gen Z and even millennial professionals would be chomping at the bit??

I assume that they're in the CBD vicinity?

A lot of these young professionals in Brisbane seem very urbanised these days. Inner-city deellers and well into the city scene. You're not seeing many of them in the Bayside or suburbs unless their visiting mum.and dad.
 
Football us life said:
Is he worried?

You'd think the Gen Z and even millennial professionals would be chomping at the bit??

I assume that they're in the CBD vicinity?

A lot of these young professionals in Brisbane seem very urbanised these days. Inner-city deellers and well into the city scene. You're not seeing many of them in the Bayside or suburbs unless their visiting mum.and dad.
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Inner north, near a train station and yes, a little bit. Lots of capital tied up and cant move on until he sells...
 
Monoethnic Social Club said:
Inner north, near a train station and yes, a little bit. Lots of capital tied up and cant move on until he sells...
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Inner North ~ Carlton, Brunswick, Northcote....???

All very highly sought after by the young professional hipsters and their ilk. If I was ~ 25-30, living in Melbourne that’s where i'd wanna be....
 
Monoethnic Social Club said:
Not sure what the market is like in QLD (or whatever part of Australia you are in) but still a massive glut of apartments for sale in Melbourne at rapidly declining prices.


Hope that helps?
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Appreciate the thought. Doesn't help unfrotunately. I'm in Queensland. The market here is farked. I believe Victoria introduced some legislation which resulted in rent prices dropping. We desperately need that.

My next renewal will pretty much make me homeless I reckon.
 
erogenouszone said:
Every generation a new boogey man foreigner comes along. For a while it was the Japanese and now it's the Chinese. I can assure you that the Australian property market is considerably more diverse than such generalisations.
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Yeah, I get that. I was more specifically talking about those tall, shiny, 20+ floor apartment towers that seem to be popping up in the big cities. Many of which, from what I’ve been told are not always largely occupied by tenants or owners for that matter.

Nothing against the Chinese or anyone else but China is where these developments tend to be heavily marketed towards.

Now if you're going to look at the incentives from local property investors, such as negative gearing or other tax reductions then surely you have to disincentivise the foreign investment market too. Maybe not from a taxation perspective but taxation incentives for investors isn't the only barrier to young Australians being able to purchase or even rent a property.....

Land banking is the term I think, whereby property or land is purchased but not frequently used in terms of leasing or rentals.
 
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zimbos05 said:
Appreciate the thought. Doesn't help unfrotunately. I'm in Queensland. The market here is farked. I believe Victoria introduced some legislation which resulted in rent prices dropping. We desperately need that.

My next renewal will pretty much make me homeless I reckon.
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Rent controls?

I think that would help because it might drive away some investors initially.

But not likely to get that under an LNP State Government any time soon and not likely to get a Labor State Government any time soon with Giggles running the show there.....
 
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Also with Zimbo's....

If a person in what I consider to be a highly respected profession such as teaching cannot afford the local rental market in Brisbane rhen the system really is broken....
 
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Football us life said:
Rent controls?

I think that would help because it might drive away some investors initially.

But not likely to get that under an LNP State Government any time soon and not likely to get a Labor State Government any time soon with Giggles running the show there.....
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If not mistaken, that's what happened in Melbourne. They introduced some laws which saw people sell more, which resulted in lower prices and rents dropping. I need to look into it more.

Oh definitely not getting anything with the LNP. We have a shit Premier and for me personally, and Education Minister who doesn't give a shit about us. They've spent the whole first year changing everything in our system to Blue just so it matches with the LNP colours, boasted about it, then offered us a shit 3% increase.

Honestly, I don't mind Miles. He actually has some good policy. A lot of the things he did whilst he was in did release pressure. Lower rego, energy credits set up a mining fund which meant mining companies paid their fare share. Introduced permanent 50c bus fares. Gave sports vouchers to all families. There was a lot of good he was doing to help families and cost of living.
Football us life said:
Also with Zimbo's....

If a person in what I consider to be a highly respected profession such as teaching cannot afford the local rental market in Brisbane rhen the system really is broken....
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I also work 2 other jobs outside of my main one because one if not enough.
 
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patjennings said:
Ever heard of Generation Jones? Tail end of the boomers. high interest rate 17%. Low jobs - not much chance of promotions early boomers had those. Stuck behind them until they retire. Super cut in their prime years by Howard and Costello. Higher taxation. Brought in low without all the mod cons and spent next 20-30 years bringing the house up to scratch. None of this brand new, landscaped properly, driveway in, carpeted and curtains ready.

Also no caravans, campers. latest sound system, overseas travel.

This generation is having it tough but plenty have had it tougher, they just expect more but want it all now. And the media tells them that things have never been as bad and they expect a hand out from their parents that are living in a worse house on less money than they earn plus provide free childcare.

Yes - I'm a generation Jones - but realistically living in Australia means by definition you are rich compared to many billions around the world.
Click to expand...

It took your mob on average 3 years to save for a deposit on one wage.

It takes 11 years on average to save for a deposit usually with 2 people working. That is objectively more harder. And you can't save because rents are so ridiculously high. Something boomers and gen X (me) could do while they saved for their deposit.

As for the 17% furphy that lasted all of 5 minutes and the vast majority of loans were capped at 13.5%.

And 17% interest on a tiny was manageable until rates crashed again.

I'd rather pay 17% interest on a house worth 3 times my wage for 12 months than 6.5% on a house worth 10 times (at least) my salary.

And here's an article that explains exactly why. https://www.finder.com.au/buy-a-house/owning-a-home-in-the-80s-vs-today

As for homes without all the stuff in them and finished, just try and buy a new home in a development with covenants all over it and saying you want it half finished. Or for that matter trying to buy a brand new small 2 bedroom home? The developer will laugh you out of his office.

The cost of the land relative to the house is approaching 50%. Something that never was the case 40 years ago.
 
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