The Great Australian Property Swindle
Nov 29th 2010, 12:56 am
#16
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Re: The Great Australian Property Swindle
Finally some sense 
On another note, the US economy is still struggling and buying property in the states could provide some fantastic opportunities. I've seen lovely 3/4 bed villas in florida on realtor.com for as little as £50k... I'm sure a good buy would bring an investor a 50% if not higher return over the next 10 years as the economy there begins to pick up.
Jen
On another note, the US economy is still struggling and buying property in the states could provide some fantastic opportunities. I've seen lovely 3/4 bed villas in florida on realtor.com for as little as £50k... I'm sure a good buy would bring an investor a 50% if not higher return over the next 10 years as the economy there begins to pick up.
Jen
http://www.rickotton.com/blog/?p=119
Nov 29th 2010, 1:44 am
#17
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Re: The Great Australian Property Swindle
I'm not sure that to risk wearing a short to medium term loss so that you can have chance at a long term gain is the best policy.
Nov 29th 2010, 1:47 am
#18
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Nov 29th 2010, 2:25 am
#19
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Re: The Great Australian Property Swindle
Well that's the point though. They don't. A young first home owner lucky enough to be on the average salary with no savings does not buy the average house. They can't afford it and nor should they be able to. The article insinuates that they should be able to, like their parents were. This is wrong.
Nov 29th 2010, 3:17 am
#20
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Re: The Great Australian Property Swindle
Nov 29th 2010, 3:27 am
#21
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Re: The Great Australian Property Swindle
Well that's the point though. They don't. A young first home owner lucky enough to be on the average salary with no savings does not buy the average house. They can't afford it and nor should they be able to. The article insinuates that they should be able to, like their parents were. This is wrong.
Nov 29th 2010, 3:31 am
#22
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Re: The Great Australian Property Swindle
This is why I don't like the "average" stats. What is an average couple, for a start?
The only way to do it is to look at your wages and look at the cost of housing where you need to live. You can then make an informed opinion about whether housing is affordable or not. Where I live a basic house with renovation and updating required starts at half a million, which I suspect is way above the reach of most young people, and a lot of middle aged people too.
The only way to do it is to look at your wages and look at the cost of housing where you need to live. You can then make an informed opinion about whether housing is affordable or not. Where I live a basic house with renovation and updating required starts at half a million, which I suspect is way above the reach of most young people, and a lot of middle aged people too.
Nov 29th 2010, 3:37 am
#23
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Re: The Great Australian Property Swindle
It is what it is.
Nov 29th 2010, 3:52 am
#24
Joined: Apr 2004
Location: High up in Joondalup.
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Re: The Great Australian Property Swindle
Interesting, but depressing read.
http://www.dailyreckoning.com.au/rep...ty-swindle.pdf
The bubble is starting to burst.
http://www.dailyreckoning.com.au/rep...ty-swindle.pdf
The bubble is starting to burst.
http://www.gladstoneinvestmentproper...om.au/news.htm
Nov 29th 2010, 3:53 am
#25
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Re: The Great Australian Property Swindle
Leaving aside the averages, why should they not be able to have similar buying power to their parents?
Nov 29th 2010, 4:02 am
#26
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Re: The Great Australian Property Swindle
It makes a big difference. In fact the severely unaffordable house prices in the West are being exploited by countries like China to undercut in manufacturing. It is literally destroying the fabric of our entire culture.
Nov 29th 2010, 4:21 am
#27
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Re: The Great Australian Property Swindle
Nov 29th 2010, 4:24 am
#28
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Re: The Great Australian Property Swindle
How is this a generational difference though? My question was purely with regard to the apparent implied generational difference. Or did you mean that this was never the case? I'd also point out that workers don't start out on average wages, they start on entry level wages.
Last edited by Steve2009; Nov 29th 2010 at 4:26 am.
Nov 29th 2010, 4:24 am
#29
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Re: The Great Australian Property Swindle
At least when compared to when their parents were in their 20s. Seems to me that back in the 1960s/1970s a ratio of 3.5 of one wage was more than enough to get a mortgage on a starter house. Today a ratio of 3.5 of two wages is often not enough to get a mortgage on a starter house.
It makes a big difference. In fact the severely unaffordable house prices in the West are being exploited by countries like China to undercut in manufacturing. It is literally destroying the fabric of our entire culture.
It makes a big difference. In fact the severely unaffordable house prices in the West are being exploited by countries like China to undercut in manufacturing. It is literally destroying the fabric of our entire culture.