Stop Immigration - I want to buy a house!

[chops_a_must]

RENTALS

How much closer to the CBD do you want?

http://www.realestate.com.au/cgi-bi...header=&c=92124982&s=wa&snf=rbs&tm=1193725087

Again 20 pages under 300/week

http://www.realestate.com.au/cgi-bi...rrace,Townhouse,Villa,Warehouse&m=&p=10&o=def

20 pages under 250/week

http://www.realestate.com.au/cgi-bi...rrace,Townhouse,Villa,Warehouse&m=&p=10&o=def

I don't know, looks pretty affordable to me.

Dave

Redcliffe is not close to the CBD. And most of those listed are well out of the metro area.

When most people under 25 aren't clearing more than 550 or 600 a week, 300 a week in rent in the burbs is a massive wack.

 

[moXJO]

Redcliffe is not close to the CBD. And most of those listed are well out of the metro area.

When most people under 25 aren't clearing more than 550 or 600 a week, 300 a week in rent in the burbs is a massive wack.

I noticed the massive rents being paid in Brisbane as well. Even the burbs which were a long way out from the cbd were pricey.Every year I think some things gotta give but still waiting.

 

[Kathmandu]

Redcliffe is not close to the CBD. And most of those listed are well out of the metro area..

Redcliffe only looks like about 10klm to the CBD, thats close.

When most people under 25 aren't clearing more than 550 or 600 a week, 300 a week in rent in the burbs is a massive wack

Massive wack, doubt it.

Maybe it is if you are paying of a $30,000 car and buying toys.

So if they are by themselves move in with a mate.

If they have a partner theres 2 incomes.

Rent one of the cheaper ones.

This issue isnt anything new, as an apprentice in mid 80's I rented with up to 4 other guys and even then paid out one third of my income.

When I moved in with my GF, I paid ALL of my income in rent and lived off of her wage, that was in 84

In 1994 I was renting a unit for $180.week and earning about $350/week.

Whats new?

Dave

 

[marklar]

Australia is currently running at a fertility rate (1.7 something) which is below replacement level (2.1), we need immigration to continue to grow the population.

The ageing population cannot continue to meet the demands of the labour market.

m.

 

[kgee]

yeah but house prices are more expensive you still need 10% deposit for a house if your making between 25- 35000 a year how do you get a deposit together without going to your folks?

 

[Kathmandu]

yeah but house prices are more expensive you still need 10% deposit for a house if your making between 25- 35000 a year how do you get a deposit together without going to your folks?

Probably the same way I had to scratch 20% together get a loan when you actually needed money to get a house.

Sacrifice and save (folks would have said F off)

Buy a crappy house 20 klm out of town

Dave

 

[ceegee]

I absolutly agree kat. People have to decide if they want to have the latest mobile and a nice car, go out on the weekends etc...

I get sick of people whingeing about affordabilitly, availabilty. My husaband and i bought our house when he was earning minimal wage I was home with two small children and the interest rates were 18%!!!
We didn't have a phone while we were renting and saving for a mortgage and I was pregnant.

I see it with my childrens friends, they're mid 20"s now, they expect to have everything AND buy a house in a trendy suburb...Sorry... unless their parents help its not going to happen!

Why do people feel they are owed everything?

Just my thoughts C

 

[kgee]

disagree i just think for some kids theyr'e just going to get priced out of the market...time will tell I spose

 

[Mofra]

Well, we've covered a range of stereotypes here haven't we?

"Immigrants are the problem"
"All young people are bludgers"
"Youngsters don't save their money"
"It was tougher in my day"

Funny thing is many of the self-righteous set who constantly put down people trying to buy a home (or anyone who actually presents evidence to suggest proportionality of income required to service median debt, but lets ignore facts to continue the trend of this thread) make 10 times the noise first home buyers do.

 

[KIWIKARLOS]

i just turned 25 and this talk of rents been 300 dollars and pays around 550-600 may be true but fact is if a single person on a single income is going to move into a house by themselves we should discourage this. What ever happen to shared living, i lived with 3 other people in a share house for a couple years we could all afford that and its much better environmentally.

 

[Uncle Festivus]

The other angle I was alluding to was if we are importing people (both from o/s and interstate?) to help with the commodity boom based economy, when do we determine that the rewards do not outweigh the negatives. When do we say 'these people are coming in to work here, but at the same time create competition for goods & services, to the extent that we are NOT better off'?

Is the commodities boom really good for the average Australian? Unless you are about to retire soon, you may have a wait before you can see the benefits of the share market bull show up in superannuation etc.

While there is certainly a certain amount of whining from gen y wanting everything now, the fact remains that it is both getting harder to buy a house (without parents help etc) or pay the rent if renting.

Can we blame human imports/transfers for cost of living inflation?

 

[professor_frink]

evening folks,

I've deleted a post or 20 here. If you want to rip into each other do it privately.

Any further posts relating to what was just removed will be deleted.

Have a nice night

 

[Shane Baker]

Can we blame human imports/transfers for cost of living inflation?

Is it the growth in immigration or the growth in money supply that causes inflation

 

[roland]

Hi, I think starting a forum with a light-hearted Australian style cause and effect heading has opened an unintentional "can of worms" regarding peoples views on immigration. Unless you are Aboriginal, I guess you are an immigrant in one sense....

Get over it ASF people, I think most here would agree that racism and intolerance have no place here. Racist comments and the associated retorts are obviously not well taken by people who are sensitive - it is also not very pleasant reading the posts - thanks.

Re: Housing affordability. I think we all have it in ourselves to get some property, but it's like anything we desire in life, it has to be within the realms of our own individual resources and circumstances.

We all have our own stories, some have had it worse than others. I would like to think that this forum is more to do with assisting in wealth creation and sharing the knowledge for the benfit of all.

Firstly, I don't have a house or property but understand the path to get there. I run a small computer business which barely makes a profit, my wife of 4 years came from overseas and had nothing to her name. Both our fathers died at an early age, so we can expect no help from family. So I think we are on the same footing, or at least close to, the footing of many others here without a house.

So, how am I getting there????

#1. No debt. Debt is the worst thing inhibiting your goal. Credit cards on average cost you around 12%, some are as high as 20% - my figures are probably inaccurate, but the point is - if you cannot afford to pay cash for whatever it is, then you can't afford it - don't buy it! I am excluding your house here, since this the goal.

#2. Excessive expenses. Should be obvious ... mobile phones, I've seen people at my local post office paying mobile phone bills in front of me in the queue of thousands of dollars! How can that be??? My mobile bill is $11 per month

#3. Live below your means. Again obvious, if you earn $2,000 per month, how sustainable would be spending $2,500 per month?

#4. Have a strategy for securing your savings from #3, both long term compounding, and if you have the expertise, some shorter term speculative returns to feed into your compounding savings.

The above is obvious for most people bothered to read my post. A dollar spent today would be $2 in 3 years at 20% compounded (mm, could be 5 years), the point is that if you hold off spending now you could then spend your dollar and still have the extra dollar to re-invest

Like most things we value, someone else probably values it as well, just like shares. Property like shares has competitors, if you get in early then it is cheaper, as the attraction increases then the value and the our entry price increases. Property is really not a lot different to shares - just the unit price is higher

I would love to have 1,000 RIO shares, but I can't afford them, so I buy 1,000 of something I can afford - I don't get all mad about it, I work within my means. With the profit of my 1,000 of something else, I'll get 100 RIO shares - only 900 to go. Then the whole process starts again.


The longer the post, the more off track one gets

 

[Buster]

Hey Kat,

Probably the same way I had to scratch 20% together get a loan when you actually needed money to get a house.

Sacrifice and save (folks would have said F off)

Buy a crappy house 20 klm out of town

Give it up buddy, some people just don't get it.. I, however, am in total agreeance with all that you've posted.. I guess we probably grew up in similar times..

It seems that there are many playing the 'unaffordable' card.. I'm tipping they are the ones that have the most to gain..

Incidentally, Negative gearing.. to those complaining about not having anywhere to rent and on the flip side blaming negative gearing is absolutely bizarre to me.. those who can't or won't afford a home have only those investing in bricks and mortar to thank for the roof over thier head..

Crazy times, it's all about ME ME ME..

Regards,

Buster

 

[numbercruncher]

I suspect that huge amounts of Super money looking for a home has as much to do with it as immigration.

I still dont get the argument from people who say people are just whinging and house prices are fair ?

My first house was less than 4x my salary and interest rates where probably about 5pc - a cake walk - now its like 8x the average salary and 8pc+ interest and rising !

Home ownership is overrated anyways, just rent and move when your bored

 

[Da Cat]

just my 2 cents...

I tend to agree that the "housing affordibility crisis" has been hyped to some degree by sections of the community, be that by politicians, the "i want" generation and the media. However I think there is little denying that the cost of owning an average house in any of the major cities has increased dramatically over the past few years.

The attached image is a graph of ration of the cost of a house vs annual income rom 2001 to 2006, for Qld and the coastal towns. Note the increase from 2.7 to 5.1 (housing cost/annual income).

As to whether this consistutes a "crisis" - I am not convinced. I'm sure that the media has a vested interest in hyping up the "crisis". Just look at the number of pages devoted in your weekend papers to real estate adverts - surely the bread and butter income source for the papers. Pushing the governments to release more land (as this seems to be the 'only' solution according to the media) will inevitably result in more avertising for the newspapers = more money.

I know that in my case, I am happy to wait and invest and save with the view in the future to owning my own place. In the meantime, I'm happy to rent and live where I want.

As to the causes of the "crisis", I think there are a number of contributors, such as the taxation benefits for negative gearing (discussed previously) and the lack of diverse housing stock - particularly in desirable central city areas. However, I fail to see that Australia's immigration rates are a significant factor in increasing the price of houses through demand.

Anyway, sorry to rant - my thoughts at least

 

[chops_a_must]

i just turned 25 and this talk of rents been 300 dollars and pays around 550-600 may be true but fact is if a single person on a single income is going to move into a house by themselves we should discourage this. What ever happen to shared living, i lived with 3 other people in a share house for a couple years we could all afford that and its much better environmentally.

Even still, it's getting pricey. Only 2 years ago I looked to rent in "inner city" Perth, or Leederville/ North Perth/ Mt. Lawley, there were heaps of places available for between $100-150. Now, the same places are fetching 3 times, sometimes 4 times as much. Perth has always been a low cost renting place, and wages haven't been spectacular either. But no-one can allow for or anticipate such a huge increase in costs, in such a short space of time.

And then of course you get the associated problems where the young people are moved out of an area, like in these instances, local businesses suffer, and the costs for youth end up rising anyway because they need a car to survive in the outer areas.

Wages just have not kept up with the cost of living, especially here in Perth. And the more people that come here, the worse the situation is going to get. We already have a massive shortage of teachers, nurses and other essential services. I just can't see how things can improve especially when these professionals have their incomes effectively cut by 20-40% by rising costs of living.

So no, I definitely do not think the mining boom has helped existing residents in Perth at least. And the more migration we get from interstate or overseas the worse these problems are going to become.

Unless something drastic is done, WA is going to be stuffed. Teacher shortages are above 100 in number, and forecasts for next year are for that shortage to blow out to between 200 and 1000 teachers.

 

[insider]

evening folks,

I've deleted a post or 20 here. If you want to rip into each other do it privately.

Any further posts relating to what was just removed will be deleted.

Have a nice night

I personally would have removed the thread completely... this sort of topic was bound to get ugly as the previous other similar ones did... It's a great chance to see peoples character flaws...

Enjoy the Pizza!

 

[Buster]

Hey Cruncher,

I still dont get the argument from people who say people are just whinging and house prices are fair ?

My first house was less than 4x my salary and interest rates where probably about 5pc - a cake walk - now its like 8x the average salary and 8pc+ interest and rising !

Ahh the good times.. Obviously not as old as you but my first two bedroom 'dogbox' was in excess of 4 x my salary and I was paying (fixed, thankfully..) 13.5%.. the poor buggers that didn't fix were paying almost 18%..

As a result, I have no sympathy for the current whingers.. They just don't realise they have an excellent opportunity..

Regards,

Buster