And i believe a related point should be added in you list:There in lies the solution
More people to spread the costs
Many cultures have done it for years
Asian, Indian , Greek and many more
Investment groups .
Just as business has partners so to can the business of home ownership have partnerships.
Husband and Wife are one of the best and most common!!
Absolutely false when you are talking about wages in real terms. Ever since President Nikson in the U.S. closed the gold window in 1971 real wages for the bottom 80% have fallen when measured properly for example compared to ounces of gold or house prices etc.Wages have never been so high
Absolutely false when you are talking about wages in real terms. Ever since President Nikson in the U.S. closed the gold window in 1971 real wages for the bottom 80% have fallen when measured properly for example compared to ounces of gold or house prices etc.
Fiat currency and central banking are the diseases crippling us all. Standards of living won't recover until we return to a sound money system (e.g. gold standards, bitcoin standard, etc).
Who cares if its cheaper to buy useless crap you don't need.It’s kinda cherry picking to only compare it gold or houses prices, though.
If you look at what you could buy when Nikson was president vs now I think you would be surprised. Sure some things are more expensive, but in a lot of cases things are so much cheaper, or didn’t even exist, or are heaps better and more complex now.
For example, how much would you have had to spend to have a mobile phone with unlimited talk time in the 1970’s, now we all have that for like $30 a month. Houses have all sort of new features as standard, cars are not really comparable.
Yeah, but again you are just naming a few things that were cheaper because of things like a smaller population, and simpler housing etc, not whether the total wages now can buy more total products and services, that guy from the 1960’s may not have had running hot water in his house or a flushing toilet,Who cares if its cheaper to buy useless crap you don't need.
The fact is in the 1960s a man working in the factory or construction could afford to support a family of 4 or 5 (including buying a house and taking annual vacations) on a single income and pay off their mortgage in 15 - 20 years and have a comfortable retirement. That is basically gone now.
The bottom 80% of people in countries like Australia, USA, etc are struggling these days.
Even if you could make the argument that new housing (the building only) when adjusted for the modern amenities has not gone up in real terms it does not matter anyway because the price of land has gone through the roof due to monetary debasement. And the costs of essentials like electricity, meat, vegetables, etc has gone through the roof.
Again gold and Bitcoin are real money. Fiat is monopoly money, eventually it will be worthless. If you look at how many ounces of gold a workers annual wages could purchase in 1971 compared to today the decline is shocking. If they were paid in gold coins instead (or at the very least a full gold backed currency redeemable in physical gold) then there wages would not have lost purchasing power.
In 1971 before the August announcement of the closing of the gold window an ounce of gold was $35 USD per troy ounce. Today it sits at $2651 USD per troy ounce. In 1971 the AUD was around $0.88 USD meaning at $35 per ounce USD the gold price in AUD was $39.77 lets just call it $40. Today it sits just shy of $4400 AUD per ounce. Average wage in Australia was around $4400 AUD per annum in 1971 (based on average weekly earnings). So in 1971 in Australia 1 years wages was equivalent to 110 troy ounces of gold. Today an average wage (again based on average weekly earnings) sits at around $104,000 AUD which at the current gold price equates to around 23.65 ounces of gold. Lets round that to 24 ounces. So your wages in Australia went from 110 ounces of gold per annum in 1971 to 24 ounces of gold currently and you are trying to make the argument people's purchasing power has risen?
Its not cherry picking. Gold is real money and therefore the appropriate measuring stick to compare all other things to. Fiat is monopoly money.
Convenient how you completely glossed over that and also the fact that it now takes two wage earners to support a family instead of one.Even if you could make the argument that new housing (the building only) when adjusted for the modern amenities has not gone up in real terms it does not matter anyway because the price of land has gone through the roof due to monetary debasement.
Back then our population growth was quite sedate, we did not need to build a new city ever year to accommodate the flood of "students"Convenient how you completely glossed over that and also the fact that it now takes two wage earners to support a family instead of one.
Even as late as the early 1990s I know people personally who bought houses on a single income in the inner west of Sydney less than 10km from the CBD on the income from an entry level job (e.g. shop assistant, etc). How many people can do that today!!
We had no running hot water in our New house built in 1960, boil the kettle to wash the dishes in the kitchen sinkYeah, but again you are just naming a few things that were cheaper because of things like a smaller population, and simpler housing etc, not whether the total wages now can buy more total products and services, that guy from the 1960’s may not have had running hot water in his house or a flushing toilet,
If it was useless crap people wouldn’t buy it, it used to cost an arm and a leg to make a phone call from Brisbane to Sydney, now you can video call for basically free, every house has Indoor plumbing and many have solar power etc, air conditioning in the home wasn’t really a thing in the 1960’s. The list goes on and on
———————-
Sounds Awesome…. Not. You are looking back with rose coloured glasses. You would expect houses to be cheaper without indoor plumbing.
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Ah the good old days.We had no running hot water in our New house built in 1960, boil the kettle to wash the dishes in the kitchen sink
Plenty of 2 bedroom houses with 3 or 4 kids all in bedroom or the oldest boy sleeping on the verandah.
you can mock , but even on the fringe of a capital city , there were families in small cottages ( with three or more children )
Luxury...you can mock , but even on the fringe of a capital city , there were families in small cottages ( with three or more children )
some near me didn't even have rear walls because they backed onto bush-land
very modest a rain-water tank ( no town-water ) most had electricity but no gas , outside toilet
not as bad as some homeless encampments but nothing like a palace( stable ) either
Who's mocking, I was taking the piss at my own upbringing. I grew up in rural NZ in the 50's and 60's in a cottage exactly as described above, there was no cash surplus available for luxuries in my family back then. Oh not quite, we had a back door.you can mock , but even on the fringe of a capital city , there were families in small cottages ( with three or more children )
some near me didn't even have rear walls because they backed onto bush-land
very modest a rain-water tank ( no town-water ) most had electricity but no gas , outside toilet
not as bad as some homeless encampments but nothing like a palace( stable ) either
Yep, so part of the reason the cost of living has gone up is because of the price of land caused by increased population, but also just the sheer increase of the goods and services we now take for granted has risen.We had no running hot water in our New house built in 1960, boil the kettle to wash the dishes in the kitchen sink
Plenty of 2 bedroom houses with 3 or 4 kids all in bedroom or the oldest boy sleeping on the verandah.
There are still heaps of single income families out there.Convenient how you completely glossed over that and also the fact that it now takes two wage earners to support a family instead of one.
Even as late as the early 1990s I know people personally who bought houses on a single income in the inner west of Sydney less than 10km from the CBD on the income from an entry level job (e.g. shop assistant, etc). How many people can do that today!!
It’s simple spend less than you earn and invest the difference and you will do great.Yet—- here we are
We all live in the now
There are 1000s of people who lived those times and financially
They are stuffed. Same opportunities.Yet there are some who
Have thrived and are financially secure.
Those born in the last 10 years will have to live in their now.
There will be opportunities that we the baby boomers won’t even recognise.
Some will thrive and others won’t.
I’d like this thread to live in the now! Ideas and opportunities discussed to help
Those living their now!
My view is those who achieve their financial independence use their income very
Differently than those who don’t.
The lifestyle choices made by those who have accumulated assets are much the same as the younger generation face now.Yet—- here we are
We all live in the now
There are 1000s of people who lived those times and financially
They are stuffed. Same opportunities.Yet there are some who
Have thrived and are financially secure.
Those born in the last 10 years will have to live in their now.
There will be opportunities that we the baby boomers won’t even recognise.
Some will thrive and others won’t.
I’d like this thread to live in the now! Ideas and opportunities discussed to help
Those living their now!
My view is those who achieve their financial independence use their income very
Differently than those who don’t.
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