- Joined
- 12 November 2007
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Thats a really good point, It definatly makes it easy to live on one income if you own your own home with a decent chunk paid off,
the ability to use dual incomes *initially* to pay down a mortgage so that you can then afford to live on one income comfortably a few years down the track. That's what most people do.
Because one of the reasons $60k seems low is that other jobs have crept over the top.
The reason why we have low unemployment (if you disregard the tripe the media vomits up about how the mining industry cut X% of jobs over the GFC) is because of the flow on $$$ from the mining boom.
So the future of Australian property prices? Well they will in best case scenario stagnate for the next 5 years. Worst case will be a crash. Too many idiots out there thinking they can make money but just buying and holding property. The house of cards will fall soon.
Me, well happy out renting and saving the rest into a savings account and buying shares. Rent is NOT dead money at the moment. In fact I would challenge anyone to prove otherwise in today's market. Yields are very low.
Whacko! Just don't worry about the little detail that you can be killed.( In reference to soldiers pay - Some of you my Google it and say "I checked the army website and it says soldiers only earn $40,000. But when you add all the other stuff it adds up.
eg, Base pay for soldier $40,000 + service allowance + Rental assistance + Bush Pay + Higher pay groups for completeing further training + separation allowance + a whole heap of other allowances. And all medical and dental etc if free, man I miss that bit)
OK.
I am going to weigh in here with a few points. I am an outsider looking in. I am looking at this from an Irish perspective because that is where I am from.
Firstly, Australia is expensive. It has one of the highest cost of living in the world. It also has one of the highest wages in the world. Min wage is what $16 per hour?? Seriously? Does anyone think that is sustainable in an ever increasinly global competive economy?
Secondly, Wages are high to fuel high property prices. The same thing happened in Ireland. The higher the wage the more someone can afford to get a loan from abank for a house. However again this is not sustainable.
Thirdly. Not one economic think tank or study says that Australian House prices are under valued, many think they are over valued by anything from 10%-50% (the economist with the latter figure)
Fourth. Never in history has a property boom/bubble NOT ended in some sort of crash/correction.
Now spare me the, Australia is different crap because it holds no water and is a strawman argument. The only reason Australia is doing well now is because of record commodity prices that we ship to China, Japan, India, etc.. Are these prices sustainable once china et al slow down growth. Will China be growing at 8%+ for the next 20 years. No way in Hell it will. We shall see a change in that by the end of the decade as well as internal poltical pressures but that is a discussion for another day.
So the future of Australian property prices? Well they will in best case scenario stagnate for the next 5 years. Worst case will be a crash. Too many idiots out there thinking they can make money but just buying and holding property. The house of cards will fall soon.
Me, well happy out renting and saving the rest into a savings account and buying shares. Rent is NOT dead money at the moment. In fact I would challenge anyone to prove otherwise in today's market. Yields are very low.
i hope there are some arguments as to why australia is different...would like to see some new ones.
its a shame you cant go short on property.
OK.
I am going to weigh in here with a few points. I am an outsider looking in. I am looking at this from an Irish perspective because that is where I am from.
Firstly, Australia is expensive. It has one of the highest cost of living in the world. It also has one of the highest wages in the world. Min wage is what $16 per hour?? Seriously? Does anyone think that is sustainable in an ever increasinly global competive economy?
Secondly, Wages are high to fuel high property prices. The same thing happened in Ireland. The higher the wage the more someone can afford to get a loan from abank for a house. However again this is not sustainable.
Thirdly. Not one economic think tank or study says that Australian House prices are under valued, many think they are over valued by anything from 10%-50% (the economist with the latter figure)
Fourth. Never in history has a property boom/bubble NOT ended in some sort of crash/correction.
Now spare me the, Australia is different crap because it holds no water and is a strawman argument. The only reason Australia is doing well now is because of record commodity prices that we ship to China, Japan, India, etc.. Are these prices sustainable once china et al slow down growth. Will China be growing at 8%+ for the next 20 years. No way in Hell it will. We shall see a change in that by the end of the decade as well as internal poltical pressures but that is a discussion for another day.
So the future of Australian property prices? Well they will in best case scenario stagnate for the next 5 years. Worst case will be a crash. Too many idiots out there thinking they can make money but just buying and holding property. The house of cards will fall soon.
Me, well happy out renting and saving the rest into a savings account and buying shares. Rent is NOT dead money at the moment. In fact I would challenge anyone to prove otherwise in today's market. Yields are very low.
1.But we are different here - our property market hasn't crashed yet.
2.As we speak it is in a healthy correction, but will it crash?
Whacko! Just don't worry about the little detail that you can be killed.
Maybe,
But $60,000 at 25years old is pretty low for some one that has had to go to uni for years to get that rate.
I joined the army staight out of high school and was earning $75K per year and that was in 2001 dollars, Now I own my own business and make several times that, As I said I am glad I didn't go to UNI.
( In reference to soldiers pay - Some of you my Google it and say "I checked the army website and it says soldiers only earn $40,000. But when you add all the other stuff it adds up.
eg, Base pay for soldier $40,000 + service allowance + Rental assistance + Bush Pay + Higher pay groups for completeing further training + separation allowance + a whole heap of other allowances. And all medical and dental etc if free, man I miss that bit)
But we are different here - our property market hasn't crashed yet.
As we speak it is in a healthy correction, but will it crash?
Cheers
Cheers
Let's not forget the woeful lack of service in retail stores. They don't deserve to get the business in many cases.And then there is retail, of course internet buying is claimed as the main culprit, but rising prices and less disposable income will be playing its part here too.
Are you quite mad, explod? He's the world's greatest treasurer! As someone remarked at the time of this announcement, god help the competition.In my view these effects and any common knowledge of them has not yet filtered through to the mainstream yet. For that we can point to a ramping Government, (just watch Swanny go about how good we are, he would not have a clue)
It was Afghanistan I was thinking of. Where you can have the comfort of knowing even your own side will take you out. Such a comfort.Apart from afghanistan, there is little risk.
Whacko! Just don't worry about the little detail that you can be killed.
2 people died on Bhp mine sites last year, another year 16 died on Bhp mine sites,
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