Obessesion With Houses and Money
Apr 29th 2009, 9:54 pm
#31
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Re: Obessesion With Houses and Money
[QUOTE=northernlights;7528978]Doesn't everyone in your age group have those things these days? Paid off mortgage, investment properties, nice cars, holidays, etc - hardly uncommon is it?
And what age group are you referring to???
I am only in my early 40's
And what age group are you referring to???
I am only in my early 40's
Apr 29th 2009, 9:59 pm
#32
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Re: Obessesion With Houses and Money
You bought property back in the day when it was affordable and realistic, prices rose above and beyond wages and inflation. Young ones are now struggling to get on the property ladder, despite low interest rates and FHBG.
Not correct at all there, we bought the house we live in in 2006, before that we had a very small house. FHBG was $7000 at the time
My eldest son has also recently bought his own place, yeah he finds it a bit tight, but then again so did I when I bought my first place, AND paid the mortgage on my own AND raised 2 kids on my OWN.
Got where I am today by working long and hard, and I still do now!!
Sorry but you made it seem as if everything has been handed on a plate!!
Not correct at all there, we bought the house we live in in 2006, before that we had a very small house. FHBG was $7000 at the time
My eldest son has also recently bought his own place, yeah he finds it a bit tight, but then again so did I when I bought my first place, AND paid the mortgage on my own AND raised 2 kids on my OWN.
Got where I am today by working long and hard, and I still do now!!
Sorry but you made it seem as if everything has been handed on a plate!!
Apr 29th 2009, 9:59 pm
#33
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Joined: Jan 2008
Location: Perth NOR
Posts: 242
Re: Obessesion With Houses and Money
Two things in life are a neccessity these days cashflow and a roof over your head to bring comfort and security.
Now, what I am finding reading these boards and the web news, is a complete obsession we have with property, a keeping up with Jones type attitude.
Talking to a few RE agents, they also tell me due to the influx of poms in some of the Northern Suburbs, demand is always high, so prices increase accordingly.
So POM+FHOG+NO STAMP DUTY= OVERINFLATED HOUSE PRICE.....
whats happened to the 3.25 X's combined income rule.... whats going on here, whys is it near 5 times... is everyone on 6 figure salaries or something...
Now, what I am finding reading these boards and the web news, is a complete obsession we have with property, a keeping up with Jones type attitude.
Talking to a few RE agents, they also tell me due to the influx of poms in some of the Northern Suburbs, demand is always high, so prices increase accordingly.
So POM+FHOG+NO STAMP DUTY= OVERINFLATED HOUSE PRICE.....
whats happened to the 3.25 X's combined income rule.... whats going on here, whys is it near 5 times... is everyone on 6 figure salaries or something...
Got 2, want 4, got 4, want 8, got 8, want 16.
If human nature didn't want more then we'd still be living in caves.
Apr 29th 2009, 10:03 pm
#34
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Joined: Jan 2008
Location: Perth NOR
Posts: 242
Re: Obessesion With Houses and Money
[QUOTE=sj oldfield;7528999]
Yes, but you started young as you have a son who has now left home, no? These days, people get married/have kids later in life.
Apr 29th 2009, 10:07 pm
#35
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Location: Birkdale QLD
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Re: Obessesion With Houses and Money
Thanks guys. We think it was a bargain too. Right place; right time; right price. Just one of those things, I guess. 
It's in Elizabeth Vale, which is easy commuting distance from the CBD, 5 minutes from all the local parks, 10 minutes from a massive nature reserve, and 20 minutes from the hills. Hospital, school, doctor and shopping centre all within easy reach.
Some of the carpet needs replacing, the kitchen & bathroom will need a complete overhaul, and the wallpaper must die for its sins.
Not exactly the Tuscan-style two storey mansion in Peppermint Grove that I've always dreamed of
but it will do for us.
It's in Elizabeth Vale, which is easy commuting distance from the CBD, 5 minutes from all the local parks, 10 minutes from a massive nature reserve, and 20 minutes from the hills. Hospital, school, doctor and shopping centre all within easy reach.
Some of the carpet needs replacing, the kitchen & bathroom will need a complete overhaul, and the wallpaper must die for its sins.
Not exactly the Tuscan-style two storey mansion in Peppermint Grove that I've always dreamed of
but it will do for us.Only joking, looks great.
JTL
Apr 29th 2009, 10:08 pm
#36
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Joined: Aug 2005
Location: Adelaide, South Australia
Posts: 11,948
Re: Obessesion With Houses and Money
Elizabeth Vale?From what I recall of Eliabeth it used to be all council housing?You must live in the "posh"part!Rough as rough and yeah would'nt want to be walking through the streets at night (I used to live at Elizabeth Downs when I first got married)but then again that explains the price you paid I guess!Sorry bad memories of Elizabeth!!!!!
Apr 29th 2009, 10:10 pm
#37
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Joined: Jan 2008
Location: Perth NOR
Posts: 242
Re: Obessesion With Houses and Money
You bought property back in the day when it was affordable and realistic, prices rose above and beyond wages and inflation. Young ones are now struggling to get on the property ladder, despite low interest rates and FHBG.
Not correct at all there, we bought the house we live in in 2006, before that we had a very small house. FHBG was $7000 at the time
My eldest son has also recently bought his own place, yeah he finds it a bit tight, but then again so did I when I bought my first place, AND paid the mortgage on my own AND raised 2 kids on my OWN.
Got where I am today by working long and hard, and I still do now!!
Sorry but you made it seem as if everything has been handed on a plate!!
Not correct at all there, we bought the house we live in in 2006, before that we had a very small house. FHBG was $7000 at the time
My eldest son has also recently bought his own place, yeah he finds it a bit tight, but then again so did I when I bought my first place, AND paid the mortgage on my own AND raised 2 kids on my OWN.
Got where I am today by working long and hard, and I still do now!!
Sorry but you made it seem as if everything has been handed on a plate!!
Apr 29th 2009, 10:11 pm
#38
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Joined: Nov 2003
Location: Lower Chittering, Perth
Posts: 4,646
Apr 29th 2009, 10:11 pm
#39
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Apr 29th 2009, 10:12 pm
#40
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Re: Obessesion With Houses and Money
Yeah and that was in the UK
Apr 29th 2009, 10:15 pm
#41
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Re: Obessesion With Houses and Money
I have noticed, and probably mentioned that Aussies aren't backwards about telling you how 'rich' they are. I've had work meetings with colleagues who've started talking about how many investment properties they own, how much debt they have on each property.
Maybe its just the scots part of me, but I keep quiet in these meetings, cos I have investment properties too, but its none of their bloody business,
I love it best when they say to me, "oh property is the way to go, you really should take out a loan and buy an investment property"....
JTL
Maybe its just the scots part of me, but I keep quiet in these meetings, cos I have investment properties too, but its none of their bloody business,
I love it best when they say to me, "oh property is the way to go, you really should take out a loan and buy an investment property"....
JTL
Apr 29th 2009, 10:28 pm
#42
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Joined: Jan 2008
Location: Perth NOR
Posts: 242
Re: Obessesion With Houses and Money
[QUOTE=sj oldfield;7529029]
Agreed. Times have changed since the Eighties, don't you think?
Kudos to you for being in a position in your life where you have strived and worked hard for what have right now. Make sure you retain all your assets and don't get carried away on the percieved 'wealth' you have.
Kudos to you for being in a position in your life where you have strived and worked hard for what have right now. Make sure you retain all your assets and don't get carried away on the percieved 'wealth' you have.
Apr 29th 2009, 11:26 pm
#43
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Re: Obessesion With Houses and Money
Apr 29th 2009, 11:34 pm
#44
Forum Regular
Joined: Jan 2008
Location: Perth NOR
Posts: 242
Re: Obessesion With Houses and Money
I have noticed, and probably mentioned that Aussies aren't backwards about telling you how 'rich' they are. I've had work meetings with colleagues who've started talking about how many investment properties they own, how much debt they have on each property.
Maybe its just the scots part of me, but I keep quiet in these meetings, cos I have investment properties too, but its none of their bloody business,
I love it best when they say to me, "oh property is the way to go, you really should take out a loan and buy an investment property"....
JTL
Maybe its just the scots part of me, but I keep quiet in these meetings, cos I have investment properties too, but its none of their bloody business,
I love it best when they say to me, "oh property is the way to go, you really should take out a loan and buy an investment property"....
JTL
Apr 30th 2009, 2:25 am
#45
Joined: Feb 2005
Posts: 4,337
Re: Obessesion With Houses and Money
I dont give a hoot as to what other people have, thats their business not mine!
And yes, we have the 'big' 5 bedroomed house, the nice cars, the investment properties...............but then again we both work bloody hard (not saying that no-one else does).............so what I do with my money is up to me!!
And yes, we have the 'big' 5 bedroomed house, the nice cars, the investment properties...............but then again we both work bloody hard (not saying that no-one else does).............so what I do with my money is up to me!!
Most poms here we know work there butts off and enjoy the lifestyle they came for,you guys incuded .
You could use more rooms with all the visiters you get
