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The future of Australian property prices

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againsthegrain said:
That is not a good comparison, shares are for investing. Houses are for basic shelter, family survival etc

People are not upset they missed on the gains, they are upset they can't have the Aussie dream
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This is a very good point. And while we have a situation where the housing market is left to the free market--like it currently is--it will always be a major focus for investors small and large (let's not forget it's not just cashed up billionaire investing in realestate--a lot of mum and dad investors are right into it). Governments over the decades have only tinkered around the edges with attempting to winding back the investors and this is usually so they can get a few minutes on TV claiming to be fighting the good fight for battlers. I just can't see any way the government can seriously wind back the market and bring it under control now unless they seriously step in and take over the market, which will never happen. But yes, I think we have lost sight of the major priority of housing--basic shelter and family survival.
 
Mrmagoo said:
None of this matters. Housing was very cheap. If you were unable to secure gainful employment I'm sorry to hear that but that is on you. A very basic job would be enough to afford a house in a very decent location back then.
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Mate I was a dual trade inst/elect sparkie my whole working life , so right in the sweet spot for the 'middle class', don't try and make your reality fit the narrative.
Get out there and make something happen, otherwise the time available will disappear, that is one thing that doesn't change you get older and you options get reduced.
 
againsthegrain said:
That is not a good comparison, shares are for investing. Houses are for basic shelter, family survival etc

People are not upset they missed on the gains, they are upset they can't have the Aussie dream
Click to expand...
If that was the case AG, they wouldn't be so particular where they bought the shelter, these days the complaint is solely focused on Sydney/ Melbourne where houses have become an investment decision rather than a shelter decision IMO.
 
Have a look at this data: paints a slightly different picture. Arrears where generally trending up from the low of 2002. We saw a spike in arrears in mid 2007 from about 5% to about 7/8% in Nov 2007, but then quick dropped of from the Nov 2007 peak to slide back to the 4/5% mark in Nov 2009. Note the increased volatility in the arrears from around May 2005 through to May 2008 so was this just a continuation of that trend. Interestingly you didn't mention 2011 (guess it wasn't making front page news of the mainstream media), which saw arrears peak back up to their 2007 highs. If you overlay house prices on this arrears chart I think it is a stretch to suggest there was a broad based crash in the housing market in 2007. Yes, people were impacted, but it wasn't a broad based crash. I acknowledge that this is a generalized national chart and specific areas may well look very different.

 
It's more the fact that trawler's experience is not typical of his generation.

My inlaws fell into jobs after graduating for example. ****, companies used to recruit out of the uni's/chase the uni grads. Now, it's the other way around, and you're competing with literally hundreds of other applicants.
 

Electricians and Plumbers might as well be doctors as they make very high incomes. It is simply not truthful to say you couldn't afford to buy a house in a good area in the 80s. People were buying houses in areas that are now 2-3 million plus areas as first home buyers up until around the late 2000s as the prices relative to incomes were a lot lower.
 
over9k said:
It's more the fact that trawler's experience is not typical of his generation.
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Boomers are not some homogeneous demographic who all lived some charmed life and all got rich. This is some Millennial fantasy invented to fuel Boomer resentment. The Boomers who did well bought and held assets over decades. Some ended up dead broke. Some ended up somewhere in the middle. You don't hear about the ones living in caravan parks or boarding houses, but they're there. Plenty of them too.

There are always opportunities for those who want to get ahead financially. You just have to be a bit smarter today.
 
I'm not saying it isn't harder to buy houses in Sydney and Melbourne, of course it is, they are in a huge ponzi bubble.
What I'm saying is that is the reality of Sydney/ Melbourne, you can't change that.
All you can change, is either where you want to buy, or how much you earn.
That is the reality.
 
Not a boomer myself, gen X it seems
Bought my first house in late 90s.bought it at same price as it was sold to the seller 10y before. interest were 9%,seller had gone for 15% plus interest.
Bloody boomer who made a
fortune.was so easy for them ?
i sold my property last year :
20y after purchased, sold roughly x3.
In the meantime, interest rate from 8% to 2%, salaries at least doubled, and when i sold had a new cottage, kitchen , full Reno, paint etc
If i remove the additions, basically doubled initial purchase orice with salaries doubled and rates smashes..
Do not cry me a river at least in Brisbane outer region.
And if we all want migrants in, have to realise own home dteam is over, if you can own a 3 bedroom unit, you are doing better than most of Europeans...
There is no entitlement to owning your own house...
 


Europe is categorically a better place to live than Australia unless you are already wealthy here in Australia. Notice I said "live" to not accumulate a fortune in property speculation.
 
Mrmagoo said:
This is a silly chart because we all know Plumbers and Electricians don't have taxable incomes so won't show up.
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Oh this this explains why all my local plumbers and electricians were listed all over the Panama papers hey?

I knew it, the ATO is just turning a blind eye to all that undeclared income being raked in by plumbers and electricians.
 
Electricians wages aren't the same as someone who owns an electrical business, here is the award rate that the guy who works for wages gets.

To get decent wages a sparkie, plumber or any mechanical trade has to do fifo or live in an outback mining town, that is a fact.

For most workers, somewhere along the trip of life they have to do it hard to get ahead, if it was easy everyone would be rich.

You obviously think all electricians and plumbers have a successful business, like I said a reality check, is what is needed.


 
Mrmagoo said:
I'm not going to bother dismissing all of the half truths you lot are telling. A very pointless discussion.
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It certainly is pointless, if you are expecting someone to tell you how to buy a house in Sydney/Melbourne, I'd have one if I knew where to find a lazy $1m.
It is simple market forces:
* House prices in Sydney are high, because people are prepared to pay the money, because they want to live there.
* Wages are lower in Sydney, because there is a lot of people with the same skill set, competing for the same job.
* Wages are higher in the bush, because the companies have to pay big money, to get workers to go there.
* Houses are cheaper in the bush, because people don't want to live there.

It isn't rocket science, if you want to buy in Sydney, get some money together, how you do that is determined by your skills and what someone is prepared to pay for them.
Life's all about choices and compromises.
Way too many today with champagne tastes, on beer money.
 
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Mrmagoo said:
I'm not going to bother dismissing all of the half truths you lot are telling. A very pointless discussion.
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I'll tell you what's pointless. Pointless is whinging about a market you cannot change. There is opportunity in every market if you look hard enough.

The endless stream of Millennial tears is hard to take. You guys need to harden up a little.
 
A dual trade is known in the industry as a cross dresser
 
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