Australian Politics Forum - Housing Remains Unaffordable

Sir lastnail

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Re: Housing Remains Unaffordable - Many Struggling.
Reply #60 - Feb 18^th, 2013 at 4:04pm

John Smith wrote on Feb 18^th, 2013 at 3:43pm:

Sir lastnail wrote on Feb 18^th, 2013 at 3:30pm:

longweekend58 wrote on Feb 18^th, 2013 at 3:03pm:

John Smith wrote on Feb 18^th, 2013 at 12:16pm:

Sir lastnail wrote on Feb 18^th, 2013 at 12:08pm:

Why don't you stick to the original thread topic instead of criticizing anyone whose opinion you don't like. What is your actual solution to the problem ?

but I'm not the one claiming there is a problem .... you are!

exactly. you are the one claiming housing is unaffordable despite the fact that most do exactly that.

it's just YOU that cant afford it or just as likely WONT afford it.

850,000 in mortage and rental stress means they are NOT affordable !! Why are you so delusional ? Do you need the evidence again for the 100th time ?

maybe those 850 000 should have bought 3 bedroom with single garage rather than go for the 4 bedroom with home theatre and 4 car garage. People make bad decisions, that doesn't mean it is the fault of the market or anyone is ripping them off ... if they stop offering excessive amounts to buy the property, the market adjusts and the vendor has to sell at a lower rate or not sell. No one makes you buy at the higher rate. A simple rule, and not just for properties, is to not spend more than you can afford to repay .....

Well of course it's always their fault and nobody else's !! Maybe they got sucked in by the triple first home buyers scam and the property spruikers on the 6 o'clock national news telling them NOW is always the best time to buy Sad

I'm very surprised you don't blame them for not buying 50 years ago when they weren't even born.

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Sir lastnail

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Re: Housing Remains Unaffordable - Many Struggling.
Reply #61 - Feb 18^th, 2013 at 4:06pm

Andrei.Hicks wrote on Feb 18^th, 2013 at 3:47pm:

TWO Golden Rules I stick to and offer to you

1. (courtesy of my mate in real estate)

Have three prices.
1. What you want to pay.
2. What you think its worth now.
3. Your top price. Do not ever go over this price, if the auction goes over it then smile and think of the next property you want because this has gone.

2. Courtesy of my old man.

Never, ever borrow more than 3 times your salary for a mortgage. Ever.

Stick to them and you'll be alright.

well tell that to the people in Ireland, Spain and the US !!

Your old man never told you that a house is only worth what the bigger fool is willing to pay and there are no shortage of fools in australia Sad

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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.

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longweekend58

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Re: Housing Remains Unaffordable - Many Struggling.
Reply #62 - Feb 18^th, 2013 at 4:53pm

Sir lastnail wrote on Feb 18^th, 2013 at 3:30pm:

longweekend58 wrote on Feb 18^th, 2013 at 3:03pm:

John Smith wrote on Feb 18^th, 2013 at 12:16pm:

Sir lastnail wrote on Feb 18^th, 2013 at 12:08pm:

Why don't you stick to the original thread topic instead of criticizing anyone whose opinion you don't like. What is your actual solution to the problem ?

but I'm not the one claiming there is a problem .... you are!

exactly. you are the one claiming housing is unaffordable despite the fact that most do exactly that.

it's just YOU that cant afford it or just as likely WONT afford it.

850,000 in mortage and rental stress means they are NOT affordable !! Why are you so delusional ? Do you need the evidence again for the 100th time ?

first problem... 'mortgage and RENTAL stress'. that is not the same thing. get the figures for mortgage stress (since we are talking abotu home OWNERSHIP and then come back

second problem 'stress' implies difficulty. Do you think this is the first generation to have had to work hard to pay the mortgage? we all did. We all went without and often without the kids of things many of these 'stressed' are unwilling to give up'

third problem: that number leaves an AWFUL LOT who arent 'stressed'

fourth problem: despite this supposed 'stress' they are still managing to do it with repossesions still very low esp by international standards

fifth problem: you.

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AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."

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John Smith

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Re: Housing Remains Unaffordable - Many Struggling.
Reply #63 - Feb 18^th, 2013 at 6:42pm

Sir lastnail wrote on Feb 18^th, 2013 at 4:04pm:

John Smith wrote on Feb 18^th, 2013 at 3:43pm:

Sir lastnail wrote on Feb 18^th, 2013 at 3:30pm:

longweekend58 wrote on Feb 18^th, 2013 at 3:03pm:

John Smith wrote on Feb 18^th, 2013 at 12:16pm:

Sir lastnail wrote on Feb 18^th, 2013 at 12:08pm:

Why don't you stick to the original thread topic instead of criticizing anyone whose opinion you don't like. What is your actual solution to the problem ?

but I'm not the one claiming there is a problem .... you are!

exactly. you are the one claiming housing is unaffordable despite the fact that most do exactly that.

it's just YOU that cant afford it or just as likely WONT afford it.

850,000 in mortage and rental stress means they are NOT affordable !! Why are you so delusional ? Do you need the evidence again for the 100th time ?

maybe those 850 000 should have bought 3 bedroom with single garage rather than go for the 4 bedroom with home theatre and 4 car garage. People make bad decisions, that doesn't mean it is the fault of the market or anyone is ripping them off ... if they stop offering excessive amounts to buy the property, the market adjusts and the vendor has to sell at a lower rate or not sell. No one makes you buy at the higher rate. A simple rule, and not just for properties, is to not spend more than you can afford to repay .....

Well of course it's always their fault and nobody else's !! Maybe they got sucked in by the triple first home buyers scam and the property spruikers on the 6 o'clock national news telling them NOW is always the best time to buy Sad

I'm very surprised you don't blame them for not buying 50 years ago when they weren't even born.

yes it's their fault ... I cannot tell you how many times I saw first home buyers looking at $500 - $600 thousand properties. Are you kidding me? Dad gives them the $50 000 deposit and they think they can go straight to the top of the market? ... they wanted the big McMansion with all the trimming rather than start with something more modest and build up to the McMansion. These are often younger couples who are starting of in life, not thinking that in a few years they'll probably have kids which will mean one has to stop work. Yes it's their fault. My first house I bought 15 yrs ago at $98 000. I would have loved the $500 000 house, but it was unafordable at the time. If you consider a mortgage you need to consider it long term, not just here and now. Fail to do so and you can only blame yourself. There have certainly been enough warnings out there.

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longweekend58

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Re: Housing Remains Unaffordable - Many Struggling.
Reply #64 - Feb 18^th, 2013 at 8:17pm

John Smith wrote on Feb 18^th, 2013 at 6:42pm:

Sir lastnail wrote on Feb 18^th, 2013 at 4:04pm:

John Smith wrote on Feb 18^th, 2013 at 3:43pm:

Sir lastnail wrote on Feb 18^th, 2013 at 3:30pm:

longweekend58 wrote on Feb 18^th, 2013 at 3:03pm:

John Smith wrote on Feb 18^th, 2013 at 12:16pm:

Sir lastnail wrote on Feb 18^th, 2013 at 12:08pm:

Why don't you stick to the original thread topic instead of criticizing anyone whose opinion you don't like. What is your actual solution to the problem ?

but I'm not the one claiming there is a problem .... you are!

exactly. you are the one claiming housing is unaffordable despite the fact that most do exactly that.

it's just YOU that cant afford it or just as likely WONT afford it.

850,000 in mortage and rental stress means they are NOT affordable !! Why are you so delusional ? Do you need the evidence again for the 100th time ?

maybe those 850 000 should have bought 3 bedroom with single garage rather than go for the 4 bedroom with home theatre and 4 car garage. People make bad decisions, that doesn't mean it is the fault of the market or anyone is ripping them off ... if they stop offering excessive amounts to buy the property, the market adjusts and the vendor has to sell at a lower rate or not sell. No one makes you buy at the higher rate. A simple rule, and not just for properties, is to not spend more than you can afford to repay .....

Well of course it's always their fault and nobody else's !! Maybe they got sucked in by the triple first home buyers scam and the property spruikers on the 6 o'clock national news telling them NOW is always the best time to buy Sad

I'm very surprised you don't blame them for not buying 50 years ago when they weren't even born.

yes it's their fault ... I cannot tell you how many times I saw first home buyers looking at $500 - $600 thousand properties. Are you kidding me? Dad gives them the $50 000 deposit and they think they can go straight to the top of the market? ... they wanted the big McMansion with all the trimming rather than start with something more modest and build up to the McMansion. These are often younger couples who are starting of in life, not thinking that in a few years they'll probably have kids which will mean one has to stop work. Yes it's their fault. My first house I bought 15 yrs ago at $98 000. I would have loved the $500 000 house, but it was unafordable at the time. If you consider a mortgage you need to consider it long term, not just here and now. Fail to do so and you can only blame yourself. There have certainly been enough warnings out there.

my first place was a 3BR hom for $36000. now I have expanded it to a 6BR place. But I bought what I could afford in a humble suburb that is now not so humble.

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AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."

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Bobby. Gold Member Offline Australian Politics Posts: 107617 Melbourne Gender:	Re: Housing Remains Unaffordable - Many Struggling. Reply #65 - Feb 18^th, 2013 at 8:29pm Longy, Quote: my first place was a 3BR hom for $36000. now I have expanded it to a 6BR place. But I bought what I could afford in a humble suburb that is now not so humble. Was that one of those extension factory jobs? What are the rates?
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Sir lastnail

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Re: Housing Remains Unaffordable - Many Struggling.
Reply #66 - Feb 18^th, 2013 at 10:12pm

John Smith wrote on Feb 18^th, 2013 at 6:42pm:

Sir lastnail wrote on Feb 18^th, 2013 at 4:04pm:

John Smith wrote on Feb 18^th, 2013 at 3:43pm:

Sir lastnail wrote on Feb 18^th, 2013 at 3:30pm:

longweekend58 wrote on Feb 18^th, 2013 at 3:03pm:

John Smith wrote on Feb 18^th, 2013 at 12:16pm:

Sir lastnail wrote on Feb 18^th, 2013 at 12:08pm:

Why don't you stick to the original thread topic instead of criticizing anyone whose opinion you don't like. What is your actual solution to the problem ?

but I'm not the one claiming there is a problem .... you are!

exactly. you are the one claiming housing is unaffordable despite the fact that most do exactly that.

it's just YOU that cant afford it or just as likely WONT afford it.

850,000 in mortage and rental stress means they are NOT affordable !! Why are you so delusional ? Do you need the evidence again for the 100th time ?

maybe those 850 000 should have bought 3 bedroom with single garage rather than go for the 4 bedroom with home theatre and 4 car garage. People make bad decisions, that doesn't mean it is the fault of the market or anyone is ripping them off ... if they stop offering excessive amounts to buy the property, the market adjusts and the vendor has to sell at a lower rate or not sell. No one makes you buy at the higher rate. A simple rule, and not just for properties, is to not spend more than you can afford to repay .....

Well of course it's always their fault and nobody else's !! Maybe they got sucked in by the triple first home buyers scam and the property spruikers on the 6 o'clock national news telling them NOW is always the best time to buy Sad

I'm very surprised you don't blame them for not buying 50 years ago when they weren't even born.

yes it's their fault ... I cannot tell you how many times I saw first home buyers looking at $500 - $600 thousand properties. Are you kidding me? Dad gives them the $50 000 deposit and they think they can go straight to the top of the market? ... they wanted the big McMansion with all the trimming rather than start with something more modest and build up to the McMansion. These are often younger couples who are starting of in life, not thinking that in a few years they'll probably have kids which will mean one has to stop work. Yes it's their fault. My first house I bought 15 yrs ago at $98 000. I would have loved the $500 000 house, but it was unafordable at the time. If you consider a mortgage you need to consider it long term, not just here and now. Fail to do so and you can only blame yourself. There have certainly been enough warnings out there.

none of that is the issue and you are also generalising about everyones financial situation when you have no idea. The real issue is why is the house price to average income ratio the highest in the western world ? When you can answer that then you can answer why so many are in mortgage stress in this country !!

Try dealing with the facts instead of generalising about everyones financial position.

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« Last Edit: Feb 18^th, 2013 at 10:18pm by Sir lastnail »

In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.

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Sir lastnail

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Re: Housing Remains Unaffordable - Many Struggling.
Reply #67 - Feb 18^th, 2013 at 10:17pm

longweekend58 wrote on Feb 18^th, 2013 at 8:17pm:

my first place was a 3BR hom for $36000. now I have expanded it to a 6BR place. But I bought what I could afford in a humble suburb that is now not so humble.

so what do you expect people to do today ?

go back in a time machine and get a good deal ?? How does you buying a house in the 60's help people now ? Is this supposed to be a solution of some kind ?

You're just a one trick pony who bought a house out of necessity and not through any financial wisdom of what was going to happen in the future especially with successive governments medaling in it all of the time Sad

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ian Gold Member Offline OzPolitic Posts: 9451	Re: Housing Remains Unaffordable - Many Struggling. Reply #68 - Feb 19^th, 2013 at 12:04am dupe post
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ian

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Re: Housing Remains Unaffordable - Many Struggling.
Reply #69 - Feb 19^th, 2013 at 12:05am

Sir lastnail wrote on Feb 18^th, 2013 at 10:17pm:

The real issue is why is the house price to average income ratio the highest in the western world ? When you can answer that then you can answer why so many are in mortgage stress in this country !!

Uh, no its not. And it appears you dont even understand the term price to income ratio.
73 countries have a house price to income ratio higher than Australia.
30 countries have a house price to income ratio lower than Australia.
Only THREE countries have a ratio at 3 or below - USA, Saudi Arabia and Iceland.

Quote:

Try dealing with the facts instead of generalising about everyones financial position.

Indeed.

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Sir Spot of Borg

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Re: Housing Remains Unaffordable - Many Struggling.
Reply #70 - Feb 19^th, 2013 at 5:19am

FriYAY wrote on Feb 18^th, 2013 at 2:39pm:

Sir Spot of Borg wrote on Feb 18^th, 2013 at 2:33pm:

FriYAY wrote on Feb 18^th, 2013 at 11:46am:

Sir Spot of Borg wrote on Feb 18^th, 2013 at 5:28am:

hadrian_now wrote on Feb 17^th, 2013 at 4:12pm:

I think the issue is, it's increasingly difficult for people to get into home ownership within a reasonable distance of the major cities or major suburban/industrial areas without:
1. taking out mortgages they may not be able to sustain in times of financial stress (someone will always sell them one)
2. either putting off having a family until middle age or being prepared to put their kids into extra-long day care & after-school care while they both work all hours of the day.

I don't think the above is an exaggeration, but some might disagree. Of course if one or more is in highly paid occupations it'a different ball game, but I'm talking about average workers here.

Possible solutions:
1. have generous in-laws prepared to house you for years while you save up because it must be hard as hell to save with Sydney rents.
2. after the war (WW2 that is) many people lived in garages for a long time, but I don't think that is allowed now.
3. move to country areas where there is work and housing is cheaper, but in a lot of cases it isn't cheaper anymore. And there is a disadvantage often with the less availability of services like medical

Just a few thoughts.

Yeah rural areas have no transport and other things (like choice of schools etc) and there is less work but the house prices are just as high in most places.

SOB

Air port, buses, shanks pony.

School - 2 private 2 state primary schools - walking distance.

Work - plenty.

Houses - across the street 3 BR, new kitchen, pool, city center in walking distance, schools as well. $210-230K

FAIL...

Shocked

You know that doesnt make any sense right? You obviously left out the point.

SOB

Go away troll.....

So you arent going to explain what you are talking about? Typical.

SOB

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Sir Spot of Borg

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Re: Housing Remains Unaffordable - Many Struggling.
Reply #71 - Feb 19^th, 2013 at 5:21am

gizmo_2655 wrote on Feb 18^th, 2013 at 2:42pm:

Sir Spot of Borg wrote on Feb 18^th, 2013 at 2:32pm:

gizmo_2655 wrote on Feb 18^th, 2013 at 11:46am:

Sir Spot of Borg wrote on Feb 18^th, 2013 at 11:40am:

gizmo_2655 wrote on Feb 18^th, 2013 at 9:19am:

Sir Spot of Borg wrote on Feb 18^th, 2013 at 9:09am:

longweekend58 wrote on Feb 18^th, 2013 at 7:57am:

Sir Spot of Borg wrote on Feb 18^th, 2013 at 5:28am:

hadrian_now wrote on Feb 17^th, 2013 at 4:12pm:

I think the issue is, it's increasingly difficult for people to get into home ownership within a reasonable distance of the major cities or major suburban/industrial areas without:
1. taking out mortgages they may not be able to sustain in times of financial stress (someone will always sell them one)
2. either putting off having a family until middle age or being prepared to put their kids into extra-long day care & after-school care while they both work all hours of the day.

I don't think the above is an exaggeration, but some might disagree. Of course if one or more is in highly paid occupations it'a different ball game, but I'm talking about average workers here.

Possible solutions:
1. have generous in-laws prepared to house you for years while you save up because it must be hard as hell to save with Sydney rents.
2. after the war (WW2 that is) many people lived in garages for a long time, but I don't think that is allowed now.
3. move to country areas where there is work and housing is cheaper, but in a lot of cases it isn't cheaper anymore. And there is a disadvantage often with the less availability of services like medical

Just a few thoughts.

Yeah rural areas have no transport and other things (like choice of schools etc) and there is less work but the house prices are just as high in most places.

SOB

except that they arent, just another thing you made up.

http://www.realestate.com.au/buy

SOB

You might want to look again...
Mosman: 3 bedroom, 1 bath from $1.5 million
Cootamundra: 3 bedroom, 2 bath, 2 car spaces (2 years old) $319,000

http://ronloiterton.com.au/search/results.aspx?class=1&agtid=1577

Yeah but when you arent dishonest and comparing extremes you will find its about the same in the country rural areas and suburbs of the cities. Most anyway i doubt it costs much for a 5 BR house in dirranbandi.

SOB

so then house prices AREN'T as high in the country as they are in the cities???

Yes they are. Dirranbandi is an extreme as is st ives in sydney. What are you attempting to do?

SOB

How so??...you claimed that house prices were similarly expensive in both the city and the country.
I showed you that Cootamundra (where I live) is considerably cheaper than Sydney...so how is Dirranbandi as 'extreme' as St Ives??

You can buy a 5 bedroom house in Dirranbandi for $195,000, and a 5 bedroom house in St Ives is over $1,000,000...

Dirranbandi is only 1/10 the price of St Ives..So far cheaper to buy in Dirranbandi than in St Ives..

The most expensive house here in Coota (or surrounding areas) is less than half a million...and that's for 5+ bedrooms and all the bells and whistles, a friend of mines son is looking to buy his unit in Western Sydney (2 bedrooms, I think) for about $300K..

you completely ignored the other part of my sentence about extremes. That is dishonest.

1/2 a million is too much for a house IMO and its the same price as the suburbs of the cities.

SOB

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Sir Spot of Borg

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Re: Housing Remains Unaffordable - Many Struggling.
Reply #72 - Feb 19^th, 2013 at 5:24am

Andrei.Hicks wrote on Feb 18^th, 2013 at 3:47pm:

TWO Golden Rules I stick to and offer to you

1. (courtesy of my mate in real estate)

Have three prices.
1. What you want to pay.
2. What you think its worth now.
3. Your top price. Do not ever go over this price, if the auction goes over it then smile and think of the next property you want because this has gone.

2. Courtesy of my old man.

Never, ever borrow more than 3 times your salary for a mortgage. Ever.

Stick to them and you'll be alright.

so you agree that housing in australia is now unaffordable for most ppl

SOB

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Sir Spot of Borg

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Re: Housing Remains Unaffordable - Many Struggling.
Reply #73 - Feb 19^th, 2013 at 5:27am

John Smith wrote on Feb 18^th, 2013 at 6:42pm:

Sir lastnail wrote on Feb 18^th, 2013 at 4:04pm:

John Smith wrote on Feb 18^th, 2013 at 3:43pm:

Sir lastnail wrote on Feb 18^th, 2013 at 3:30pm:

longweekend58 wrote on Feb 18^th, 2013 at 3:03pm:

John Smith wrote on Feb 18^th, 2013 at 12:16pm:

Sir lastnail wrote on Feb 18^th, 2013 at 12:08pm:

Why don't you stick to the original thread topic instead of criticizing anyone whose opinion you don't like. What is your actual solution to the problem ?

but I'm not the one claiming there is a problem .... you are!

exactly. you are the one claiming housing is unaffordable despite the fact that most do exactly that.

it's just YOU that cant afford it or just as likely WONT afford it.

850,000 in mortage and rental stress means they are NOT affordable !! Why are you so delusional ? Do you need the evidence again for the 100th time ?

maybe those 850 000 should have bought 3 bedroom with single garage rather than go for the 4 bedroom with home theatre and 4 car garage. People make bad decisions, that doesn't mean it is the fault of the market or anyone is ripping them off ... if they stop offering excessive amounts to buy the property, the market adjusts and the vendor has to sell at a lower rate or not sell. No one makes you buy at the higher rate. A simple rule, and not just for properties, is to not spend more than you can afford to repay .....

Well of course it's always their fault and nobody else's !! Maybe they got sucked in by the triple first home buyers scam and the property spruikers on the 6 o'clock national news telling them NOW is always the best time to buy Sad

I'm very surprised you don't blame them for not buying 50 years ago when they weren't even born.

yes it's their fault ... I cannot tell you how many times I saw first home buyers looking at $500 - $600 thousand properties. Are you kidding me? Dad gives them the $50 000 deposit and they think they can go straight to the top of the market? ... they wanted the big McMansion with all the trimming rather than start with something more modest and build up to the McMansion. These are often younger couples who are starting of in life, not thinking that in a few years they'll probably have kids which will mean one has to stop work. Yes it's their fault. My first house I bought 15 yrs ago at $98 000. I would have loved the $500 000 house, but it was unafordable at the time. If you consider a mortgage you need to consider it long term, not just here and now. Fail to do so and you can only blame yourself. There have certainly been enough warnings out there.

That 98k house is now worth about 500k anyway

SOB

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Whaaaaaah!
I'm a
Moron!

- edited by some unethical admin - you think its funny? - its a slippery slope

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JC Denton Gold Member Offline Posts: 5471 Gender:	Re: Housing Remains Unaffordable - Many Struggling. Reply #74 - Feb 19^th, 2013 at 7:19am wow you managed to get a house at $98,000. nobody could do that anymore.
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