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viole02

Juniors
Messages
160
Soren Lorenson said:
I can only speak for my regional area. I know it’s almost too hard in Sydney. But my daughter left school in Yr 11, did a telecommunications traineeship with NBN and is now almost 3 years in. She’s a massive tightarse, doesn’t drink much and drives a 15 yr old car. Sure she still lives at home so she doesn’t have many overheads, but she’s not far away from having a significant deposit on a house. So it’s possible. If she kept studying like her sister will, well, good luck. She’ll not only have no savings, but likely a big HECS debt.
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Not financial advice but she also doesnt need to have a 20% deposit either. In my mind its almost always worth paying the LMI (once again not financial advice)
 
Poupou Escobar

Poupou Escobar

Post Whore
Messages
98,789
Angry_eel said:
House prices are going up everywhere though. Somewhere like Gladstone is over 600k now. In NSW, finding a decent house within 2 hours of Sydney under 700K is hard now.

At this rate, my daughter's generation will have to move to small town in WA if I don't help her.
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‘Having to move’ is the history of mankind. Opportunities have historically been found elsewhere.
 
Tiger5150

Tiger5150

First Grade
Messages
5,250
85 Baby said:
I’m blame my generation (although I’m more a Xenial than Gen Y) a bit for the instant gratification expectations, but sometimes you have to live with things being a bit shit for awhile to get the cool, flashy shit.
A lot of the time people are surprised how long a period that can be. I showed a guy I work with that he was working over 6 hours a week just to pay for his week’s uber eats.
I worked with another person that had a different habit that I pointed out to him was a full days pay that just went up his nose. At least that habit has only trickle effect on inflation.
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Tell me you bought a house >15y ago without telling me
 
85 Baby

85 Baby

Juniors
Messages
1,936
Tiger5150 said:
Tell me you bought a house >15y ago without telling me
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I did. I also did it on $40k income by not being as precious with my living conditions. That means now yes I can spread $400 a week pretty well.
Edit - it was 15.5 years ago so we’re not talking prices sub $500k either
 
The Predictor

The Predictor

Bench
Messages
2,884
My son purchased in Marsden Park, a townhouse for $823,000 and that was considered reasonable, he and his partner are living in it for a year before for tax purposes an then returning and living with us, (and renting property out), we helped them out with a substantial amount they added theirs and doing well, I love that they are so conscientious and thoughtful with their money and future direction, the both work hard and deserve good things!!

Very different to most of us back in the day, who were looking for a good time and a beer, which was not a crime but not necessarily forward thinking
 
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Timana

Timana

Juniors
Messages
1,309
The Predictor said:
My son purchased in Marsden Park, a townhouse for $823,000 and that was considered reasonable, he and his partner are living in it for a year before for tax purposes an then returning and living with us, (and renting property out), we helped them out with a substantial amount they added theirs and doing well, I love that they are so conscientious and thoughtful with their money and future direction, the both work hard and deserve good things!!

Very different to most of us back in the day, who were looking for a good time and a beer, which was not a crime but not necessarily forward thinking
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Yup 6 year rule
 
hindy111

hindy111

Post Whore
Messages
66,635
Stevie said:
Yeah but I think many people have lost hope. Look at the cost of wages vs median house purchase cost now. Homeownership is a myth for kids without an inheritance.

Our cost of living is a disgrace. Simply driving to work and back is $60+ a day purely in tolls!

We should be the wealthiest continent on the planet but instead our people are getting poorer whilst we have given our country away.
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Really the rich are just pulling us all along for the ride anyhows.
Once all the Boomers hand down their money mostly to GEN X things are going to get out of control I reckon.
Right now most of us can relate to our friendship circles, neighbours based on similar lifestyles. But soon many will basically win the lottery due to inheritances and have enough money to do whatever they want whilst others will have to flog themselves untill they die. That's going to create divide.
 
RealdEel

RealdEel

Juniors
Messages
716
hindy111 said:
Really the rich are just pulling us all along for the ride anyhows.
Once all the Boomers hand down their money mostly to GEN X things are going to get out of control I reckon.
Right now most of us can relate to our friendship circles, neighbours based on similar lifestyles. But soon many will basically win the lottery due to inheritances and have enough money to do whatever they want whilst others will have to flog themselves untill they die. That's going to create divide.
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Already happening now a lot of boomers are living of their dead parents Money.
 
hindy111

hindy111

Post Whore
Messages
66,635
RealdEel said:
Already happening now a lot of boomers are living of their dead parents Money.
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Putting the financial things aside I feel like owning a home gave people a great long term goal. An achievement for your hard work and something to be proud of. You work hard,made sacrifices and would be rewarded.
Just giving people something defeats the whole purpose. And taking away the possibility of the reward means people will lack desire and float meaninglessly.
 
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