Australian Politics Forum - Housing Remains Unaffordable

John Smith

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Re: Housing Remains Unaffordable - Many Struggling.
Reply #75 - Feb 19^th, 2013 at 8:37am

JC Denton wrote on Feb 19^th, 2013 at 7:19am:

wow you managed to get a house at $98,000. nobody could do that anymore.

I put up a link a few pages back that had a 3 bd house at $99 000 .... rent in the area is about $220 - $230 . Look it up if your looking for an investment. needs a little work but at that price who cares.

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John Smith

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Re: Housing Remains Unaffordable - Many Struggling.
Reply #76 - Feb 19^th, 2013 at 8:39am

Sir lastnail wrote on 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.

and you are genaralising about everyones finacial situation ... except your assuming they did all the right things and it's everyone else's fault.

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Andrei.Hicks

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Re: Housing Remains Unaffordable - Many Struggling.
Reply #77 - Feb 19^th, 2013 at 9:02am

My first place was $1m - but I rented for 10 years and as per my rule, only borrowed 3 times the salary to pay for it.

It's irrelevant the price to some extent, as long as you stick to the funding rules.

Lastnail - 850,000 in rental/mortgage stress?

There are 16m in Australia over the age of 18.
Of that 66% either rent or have a mortgage. The others are owner occupied/no mortgage.

So roughly there are 10,560,000 people renting or with a mortgage.
If 850,000 are under stress - while I believe its their own fault for biting off too much than they can eat - thats 8% of the people.

Therefore there's 92% not in stress?

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Anyone who lives within their means suffers from a lack of imagination - Oscar Wilde

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gizmo_2655 Gold Member Offline Australian Politics Posts: 16010 South West NSW Gender:	Re: Housing Remains Unaffordable - Many Struggling. Reply #78 - Feb 19^th, 2013 at 9:30am JC Denton wrote on Feb 19^th, 2013 at 7:19am: wow you managed to get a house at $98,000. nobody could do that anymore. A friend of mine bought a 2 bedroom house for $92,000 in October last year.
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Sir lastnail

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Re: Housing Remains Unaffordable - Many Struggling.
Reply #79 - Feb 19^th, 2013 at 9:40am

John Smith wrote on Feb 19^th, 2013 at 8:39am:

and you are genaralising about everyones finacial situation ... except your assuming they did all the right things and it's everyone else's fault.

So everyone in mortgage stress has only got themselves to blame because they bought a house in a country where house prices to average income ratios are about 8 verses the worst case of 3 in the US before the GFC !! And rents are over the top because some scumbag property hoarder expects the tenant to pay it all off for them when the tenant should have bought that place for themselves and be paying it off for themselves Sad

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John Smith

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Re: Housing Remains Unaffordable - Many Struggling.
Reply #80 - Feb 19^th, 2013 at 9:56am

Sir lastnail wrote on Feb 19^th, 2013 at 9:40am:

John Smith wrote on Feb 19^th, 2013 at 8:39am:

and you are genaralising about everyones finacial situation ... except your assuming they did all the right things and it's everyone else's fault.

So everyone in mortgage stress has only got themselves to blame because they bought a house in a country where house prices to average income ratios are about 8 verses the worst case of 3 in the US before the GFC !! And rents are over the top because some scumbag property hoarder expects the tenant to pay it all off for them when the tenant should have bought that place for themselves and be paying it off for themselves Sad

houses range from $100 000 to $40 million in Australia ... it's up to you which you chose to buy. Why is that such a difficult concept for you to understand? If you cannot afford it, don't buy it. If no one can afford it, no one buys it and the price comes down. Thats how it works. Stop trying to blame everyone else and accept responsibility for your own choices.

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John Smith

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Re: Housing Remains Unaffordable - Many Struggling.
Reply #81 - Feb 19^th, 2013 at 10:06am

Here nail .. I found for you an example of what it means to sacrifice. Sure, this example may be a little extreme, and I don't suggest everybody do what this woman did, but if you are suffering from mortgage stress it's up to you to make it right .

http://au.pfinance.yahoo.com/money-manager/debt-and-budgeting/article/-/16179942...

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greggerypeccary Gold Member Offline Australian Politics Posts: 140211 Gender:	Re: Housing Remains Unaffordable - Many Struggling. Reply #82 - Feb 19^th, 2013 at 10:09am gizmo_2655 wrote on Feb 19^th, 2013 at 9:30am: JC Denton wrote on Feb 19^th, 2013 at 7:19am: wow you managed to get a house at $98,000. nobody could do that anymore. A friend of mine bought a 2 bedroom house for $92,000 in October last year.
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KJT1981

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Re: Housing Remains Unaffordable - Many Struggling.
Reply #83 - Feb 19^th, 2013 at 10:09am

gizmo_2655 wrote on Feb 19^th, 2013 at 9:30am:

JC Denton wrote on Feb 19^th, 2013 at 7:19am:

wow you managed to get a house at $98,000. nobody could do that anymore.

A friend of mine bought a 2 bedroom house for $92,000 in October last year.

Stockinbingal? Wallendbeen ? Bethungra? Grong Grong? Matong? The Rock?

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Andrei.Hicks

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Re: Housing Remains Unaffordable - Many Struggling.
Reply #84 - Feb 19^th, 2013 at 10:12am

Its horses for courses Lastnail.

I had a mortgage in Australia of $4,500 per month.
It wasn't nice but it was the going rate for borrowing half a mill off of the bank at the time - it's about $1,000 per month cheaper now but still a lot.

I could afford it as a 28 year old.
I couldn't have afforded less than half that as a 22 year old so I rented.
If I had wanted to buy in those years, then I would have done so in a much different suburb and also would have got 2 less bedrooms.

My brother in law in Townsville bought a place for $90k by the way only 3 years ago, so I know they are still around.

By the way, place that house of $90k in my suburb of Armadale where I bought mine and it's a $900k house.

Them's the breaks - I am not understanding what the rage about this is from?
It's obvious - buy what you can afford, where you can afford?

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Anyone who lives within their means suffers from a lack of imagination - Oscar Wilde

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gizmo_2655

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Re: Housing Remains Unaffordable - Many Struggling.
Reply #85 - Feb 19^th, 2013 at 10:14am

KJT1981 wrote on Feb 19^th, 2013 at 10:09am:

gizmo_2655 wrote on Feb 19^th, 2013 at 9:30am:

JC Denton wrote on Feb 19^th, 2013 at 7:19am:

wow you managed to get a house at $98,000. nobody could do that anymore.

A friend of mine bought a 2 bedroom house for $92,000 in October last year.

Stockinbingal? Wallendbeen ? Bethungra? Grong Grong? Matong? The Rock?

Cootamundra, about 2ks from the main shopping street

Used to live outside The Rock, way more expensive now days.

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"I just get sick of people who place a label on someone else with their own definition.

It's similar to a strawman fallacy"
Bobbythebat

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KJT1981

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Re: Housing Remains Unaffordable - Many Struggling.
Reply #86 - Feb 19^th, 2013 at 10:18am

gizmo_2655 wrote on Feb 19^th, 2013 at 10:14am:

KJT1981 wrote on Feb 19^th, 2013 at 10:09am:

gizmo_2655 wrote on Feb 19^th, 2013 at 9:30am:

JC Denton wrote on Feb 19^th, 2013 at 7:19am:

wow you managed to get a house at $98,000. nobody could do that anymore.

A friend of mine bought a 2 bedroom house for $92,000 in October last year.

Stockinbingal? Wallendbeen ? Bethungra? Grong Grong? Matong? The Rock?

Cootamundra, about 2ks from the main shopping street

Used to live outside The Rock, way more expensive now days.

Cootamundra is a nice town. My brother spent 20 years there with his family.

One house was in Bradman st, one on an acre or so behind the sale yards and I can't remember the third.

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gizmo_2655

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Re: Housing Remains Unaffordable - Many Struggling.
Reply #87 - Feb 19^th, 2013 at 10:22am

KJT1981 wrote on Feb 19^th, 2013 at 10:18am:

gizmo_2655 wrote on Feb 19^th, 2013 at 10:14am:

KJT1981 wrote on Feb 19^th, 2013 at 10:09am:

gizmo_2655 wrote on Feb 19^th, 2013 at 9:30am:

JC Denton wrote on Feb 19^th, 2013 at 7:19am:

wow you managed to get a house at $98,000. nobody could do that anymore.

A friend of mine bought a 2 bedroom house for $92,000 in October last year.

Stockinbingal? Wallendbeen ? Bethungra? Grong Grong? Matong? The Rock?

Cootamundra, about 2ks from the main shopping street

Used to live outside The Rock, way more expensive now days.

Cootamundra is a nice town. My brother spent 20 years there with his family.

One house was in Bradman st, one on an acre or so behind the sale yards and I can't remember the third.

Yeah, nice town still...
I've got a dream of buying here, someday. (If I ever get the right Powerball numbers)

There's 2 nice ones for sale now.
http://ronloiterton.com.au//search/display.aspx?ln=1484583

http://ronloiterton.com.au//search/display.aspx?ln=1651768

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"I just get sick of people who place a label on someone else with their own definition.

It's similar to a strawman fallacy"
Bobbythebat

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KJT1981

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Re: Housing Remains Unaffordable - Many Struggling.
Reply #88 - Feb 19^th, 2013 at 10:28am

gizmo_2655 wrote on Feb 19^th, 2013 at 10:22am:

KJT1981 wrote on Feb 19^th, 2013 at 10:18am:

gizmo_2655 wrote on Feb 19^th, 2013 at 10:14am:

KJT1981 wrote on Feb 19^th, 2013 at 10:09am:

gizmo_2655 wrote on Feb 19^th, 2013 at 9:30am:

JC Denton wrote on Feb 19^th, 2013 at 7:19am:

wow you managed to get a house at $98,000. nobody could do that anymore.

A friend of mine bought a 2 bedroom house for $92,000 in October last year.

Stockinbingal? Wallendbeen ? Bethungra? Grong Grong? Matong? The Rock?

Cootamundra, about 2ks from the main shopping street

Used to live outside The Rock, way more expensive now days.

Cootamundra is a nice town. My brother spent 20 years there with his family.

One house was in Bradman st, one on an acre or so behind the sale yards and I can't remember the third.

Yeah, nice town still...
I've got a dream of buying here, someday. (If I ever get the right Powerball numbers)

There's 2 nice ones for sale now.
http://ronloiterton.com.au//search/display.aspx?ln=1484583

http://ronloiterton.com.au//search/display.aspx?ln=1651768

They are both nice looking homes mate.

Ok, seeing the map jolted the memory. Thompson st was one.

Bradman may have been where they had the acre. They had a bore put down on the acre.

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FriYAY

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Re: Housing Remains Unaffordable - Many Struggling.
Reply #89 - Feb 19^th, 2013 at 11:30am

Sir Spot of Borg wrote on 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