IFocus
You are arguing with a Galah
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NC likely story to to happen here in Perth I think also once the boom slows down the people who can least afford at the bottom end lose out.....
House prices to keep rising for years
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NC likely story to to happen here in Perth I think also once the boom slows down the people who can least afford at the bottom end lose out.....
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I did read it mate, the tele could have just as easily picked a street on the north shore with a size 100 font heading stating " HOUSE OWNERS MAKING $1000 A WEEK! " but that wouldn't sell papers would it
I totally agree there are people doing it tough a friend of ours bought a place out blacktown way for about $250 K and has a $35 K wage to repay it with I think it was a 70% loan or something so im guessing it equates to about $300 a week. Thats like 50% of her pay and she drives from blacktown to Epping everyday to work ! doesn't leave much for a lifestyle. But $35K is pretty low.
A electrical tradie straight out of apprentishipo can make easily $60K a year with a van / phone included. Thats over $1000 a week clear, easily enough to service a $200 K loan by yourself. So add another person to that equation say a brother or Misses or if you live at home for a couple years and hammer down the morgage and you can quite easily afford $300-350K.
Another "article" in the tele stated average wages are $65 K PA now.
Maybe people will have to start been more sensible with their cash now instead of going to Harvey Normal and buying a 52 incl LCD on finance from GE Money
:
numbercruncher
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Thats nice, how about firemen 21ph, coppers 25ph, soldiers 25/30 p/h , nurses 30p/h, childcarers 18p/h etc. They should all throw in the towel, as a society we dont really need them, just need those with the capacity to push up house prices ?
How about 1 in 3 Aussies work full time, 2m get about min wage, not all of us can earn a good income.
I get your point though, anyone tettering in the edge is getting there just deserves eh ?
By the way there is a hell of alot more Houses in the mortgage belt than the affulent Northern suburbs.
It did in the past, even sold a bunch of TV shows.
Australias different though, nothing but up up up Just ask the Bank shareholders.
How about 1 in 3 Aussies work full time, 2m get about min wage, not all of us can earn a good income.
I get your point though, anyone tettering in the edge is getting there just deserves eh ?
By the way there is a hell of alot more Houses in the mortgage belt than the affulent Northern suburbs.
It did in the past, even sold a bunch of TV shows.
Australias different though, nothing but up up up
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Thats nice, how about firemen 21ph, coppers 25ph, soldiers 25/30 p/h , nurses 30p/h, childcarers 18p/h etc. They should all throw in the towel, as a society we dont really need them, just need those with the capacity to push up house prices ?
How about 1 in 3 Aussies work full time, 2m get about min wage, not all of us can earn a good income.
I get your point though, anyone tettering in the edge is getting there just deserves eh ?
By the way there is a hell of alot more Houses in the mortgage belt than the affulent Northern suburbs.
It did in the past, even sold a bunch of TV shows.
Australias different though, nothing but up up up
Firefighters and coppers make $25 BASE add in allowances for shift work, meal breaks + others and the OT and your well well above that. Nurses and Childcare get raw deal my missus is a childcare worker. Still doesn't change the fact that the average wage is $65 K and that most trades eg. Plumber , builder, electrical all make that at least ! and thats only in SYdney you take a skill to WA or QLD you get twice that even unskilled is twice that.
Also anyone can make more money you just need to further educate yourself. Base childcare wage is $16 but if you do you advanced dip its $20 go to uni your on $50+ for early childhood teacher. You can't have basic training and expect to get paid alot.
chops_a_must
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I have half as much training for my occupation that a nurse gets for theirs, yet I get paid more.
I don't think that's fair, I think that's rubbish to be honest...
I don't think that's fair, I think that's rubbish to be honest...
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your story is prob an exception as is my dads. He left school at 15 and owns his own bus now. But those days are coming to an end my friend. Back in the day you could leave school early get little training and be well off but economies (particulariily western ones) are becoming more hightech. I think if your a good entrpreur or saleman you can make a good living without education but that only applies to a small % of the pop.
As for those 2 mill people on min wagemost of those are teen's and unskilled workers.
You can not say that in general people with more education don't make higher wages thats just nonsense.
As for those 2 mill people on min wagemost of those are teen's and unskilled workers.
You can not say that in general people with more education don't make higher wages thats just nonsense.
numbercruncher
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You need to let the ABS in on your findings, seems they are unaware of this 20pc jump in the last couple of months..
http://www.abc.net.au/news/stories/2008/02/21/2168841.htm
chops_a_must
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In the main I agree, but certainly in WA at the moment, people aren't paid based on their education levels, and that's why we are in real strife.
Nurses are paid less than average wage, in fact I do a lot of extended training with an ex nurse, who works in my industry because it pays better. Admittedly, if we worked for anyone but ourselves, we probably wouldn't be better off, and I work weird hours. But still, nurses are clearly paid less than their training and education would dictate.
Going back to the WA situation, high end essential service staff are paid between 50 and 75% of their market rate. That's not something that can continue when you can earn twice as much not using your brain out in whoop whoop. When you have country teachers targeted by mining companies out in the bush, and giving them irresistable deals, you have a serious problem...
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hahaha 52 x 1109 = $57700 thats 11% diff mate
:anyways my point was most aussies aren't on the breadline and most aussies have a partner making a wage aswell, or live with their folks.
do you have parents? If so, what is their house worth? how much do they owe on it? This is the single most important fact that people on this thread have ignored so far. I would argue that there is a currently a massive transfer of generational wealth going on, and this will continue to go on for years (until the end of the baby boomer generation). The BB generation is the single largest group of 0% LVR owner occupied dwellings the country has seen. This may help people understand why gen x and gen y feel comfortable taking on such debt. Why do you think banks want to slice of the action by offering advances on a proportion of home equity to retirees. The 'family home' is the x factor in all this, and it represents the largest chunk of Austrlian wealth. This has become, or is about to become liquid, and the cash re-disbursed to the offspring's fledging mortgage accounts. For Tom the property bear, and financial adviser, maybe this is the factor you're missing.
So as residential property wealth is redistributed to younger generations, they go and buy houses, pay of the credit cards etc. etc.
The government could also knock billions and years off home buyers debt today by allowing a proportion of their super to be paid directly into the principal of their home loan. Any panic stations suggesting a crash could occur very quickly completely discounts government intervention.
This thread has identified the over stretched mortgage holder as the biggest threat to the Australian economy. But it seems obvious to me that there is a lot more money and confidence out there that the headlines and figures suggest.
I wouldn't be surprised if Australia's GDP picks up considerably over the next few years, along with interest rates, house prices, wages, rents, food, and petrol. Just go and live in Scandinavia, and you'll get an idea of where things are headed here. The only difference may be that taxes will continue to go down, and coffers are supplemented by more and more billions of dollars in surpluses generated by company tax. It'll be more about managing the huge increases in wealth, rather than contemplating anything like the fear and doom predicated by the panic mongers. Didn't anybody tell you that Australia is experiencing its largest economic expansion in history?
So as residential property wealth is redistributed to younger generations, they go and buy houses, pay of the credit cards etc. etc.
The government could also knock billions and years off home buyers debt today by allowing a proportion of their super to be paid directly into the principal of their home loan. Any panic stations suggesting a crash could occur very quickly completely discounts government intervention.
This thread has identified the over stretched mortgage holder as the biggest threat to the Australian economy. But it seems obvious to me that there is a lot more money and confidence out there that the headlines and figures suggest.
I wouldn't be surprised if Australia's GDP picks up considerably over the next few years, along with interest rates, house prices, wages, rents, food, and petrol. Just go and live in Scandinavia, and you'll get an idea of where things are headed here. The only difference may be that taxes will continue to go down, and coffers are supplemented by more and more billions of dollars in surpluses generated by company tax. It'll be more about managing the huge increases in wealth, rather than contemplating anything like the fear and doom predicated by the panic mongers. Didn't anybody tell you that Australia is experiencing its largest economic expansion in history?
theasxgorilla
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The difference between 65k and 57k is 12%, not 20%.
As we've come to learn, numbercruncher is not much of a numbercruncher. I'd be interested to know the avg. for NSW, since there is no point doing a nat. avg. when we're talking NSW.
Maybe Kiwikarlos was referring to the avg. male wage?
http://www.news.com.au/dailytelegraph/story/0,22049,23250909-5015795,00.html
ASX.G
theasxgorilla
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How is it redistributed exactly? Are you talking about over a very long time frame?
I'm curious what you see in the Australian future compared with Scandinavia.
ASX.G
Um, difference of 65k - 57k = 8k
Increase of 8k from 57k = 8/57 = 14%
Decrease of 8k from 65k = 8/65 = 12%
Since wages are increasing we use 14%.
Correct me if I'm wrong.
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Totally agree mate my folks went guarentaur on my place which saved me about 8 K in morgage insurance (they fully own the place) so they basically insure 80K of my house. I wouldn't advise this for many people though I felt really bad about it and worried about effecting my folks retirement. The only reason i did it was because I knew i hd a very secure job, good wage and cover for diability etc which would make it virtually imposible for there to be any chance of foreclosure.
Heaps of people though sand to inherit houses and heaps of assets. I doubt that the baby boomers will spend all their inheritance but to be honest I would galdly help my kids out if I could and i would rather do it earlier than later as a dollar now saves 10 in future. I personally believe that "spending allthe kids inheritance" on stupid stuff is just selfish and shortsighted. Sure go have some fun go oversea's but the alot of the richest and well off people in this world have to thank many generations of passing on wealth creation for there good position.
After all they are your flesh n blood (we justfound out my wifes expecting its changed my view on things quite a bit)
numbercruncher
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theasxgorilla
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OK.
$1,109 p.w. * 52 = $57,668.
$65,000 - $57,668 = $7,332
$7,332 / $57,668 * 100 = 12.7%
Closer to 13% than 12%, certainly not 14%, and no where near the 20% our local doom and gloom troll threw up.
IF you take the average male wage, including overtime, from the ABS, you get $64,875 p.a. The difference between this figure and $57,668 is 12.49%...or closer to 12
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theasxgorilla
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Robots, can you elaborate? Which actions exactly?
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