MovingAverage
Just a retail hack
- Joined
- 23 January 2010
- Posts
- 1,315
- Reactions
- 2,565
3.29 million to first home buyers…yup I’m a cold heartless old man, but would have no sympathy for them should they experience mortgage stress.
3.29 million to first home buyers…yup I’m a cold heartless old man, but would have no sympathy for them should they experience mortgage stress.Yep the baby boomers are making it hard for the younger generation, I just wish I had the same problems these younger people had.
From the article:‘Overpaid a tiny bit’: Doctors spend $3.295 million on Lane Cove first home
They outbid a dozen others at the auction where buyers were reluctant to place bids from beginning to end.www.smh.com.au
Bidding further slowed after the $3 million mark, and two agents fought tooth and nail for every increase from the two remaining bidders. The home eventually sold for $3,295,000 to the first home buyer couple who are renting in North Ryde.
The pair, both doctors in their 30s who declined to be named, said they felt they overpaid for the property a “tiny bit”. The reserve was $2.8 million.
Selling agent Julia Sikora of McGrath Lane Cove said it was a stand-out result for a market where many homes are selling prior to auction due to the lack of competition. She noted the vendors’ expectations had been in line with buyer feedback.
The Reserve Bank’s decision to lift the official cash rate another 0.5 per cent on Tuesday, was “definitely a talking point and buyers are taking that into consideration”, Sikora said.
They are doctors, out of the actual economic cycle with gov garanteed income. Directly via bulk billing and indirectly with mandated private health cover..only a really incompetent GP would ever have money issue in this country3.29 million to first home buyers…yup I’m a cold heartless old man, but would have no sympathy for them should they experience mortgage stress.
Members (students) of the association of medical students have not even graduated and they are already publicly complaining that they will have to work to hard when the get a job.Yep the baby boomers are making it hard for the younger generation, I just wish I had the same problems these younger people had.
From the article:‘Overpaid a tiny bit’: Doctors spend $3.295 million on Lane Cove first home
They outbid a dozen others at the auction where buyers were reluctant to place bids from beginning to end.www.smh.com.au
Bidding further slowed after the $3 million mark, and two agents fought tooth and nail for every increase from the two remaining bidders. The home eventually sold for $3,295,000 to the first home buyer couple who are renting in North Ryde.
The pair, both doctors in their 30s who declined to be named, said they felt they overpaid for the property a “tiny bit”. The reserve was $2.8 million.
Selling agent Julia Sikora of McGrath Lane Cove said it was a stand-out result for a market where many homes are selling prior to auction due to the lack of competition. She noted the vendors’ expectations had been in line with buyer feedback.
The Reserve Bank’s decision to lift the official cash rate another 0.5 per cent on Tuesday, was “definitely a talking point and buyers are taking that into consideration”, Sikora said.
As young doctors they will no doubt still have a massive loan for that property (unless of course they have have used the bank of Mum and dad. Agree with what you say but with a big loan from a bank even young doctors will feel mortgage painThey are doctors, out of the actual economic cycle with gov garanteed income. Directly via bulk billing and indirectly with mandated private health cover..only a really incompetent GP would ever have money issue in this country
If inflation is 10%, they will probably get 10% extra income soon enough and rates might go to what 1%?As young doctors they will no doubt still have a massive loan for that property (unless of course they have have used the bank of Mum and dad. Agree with what you say but with a big loan from a bank even young doctors will feel mortgage pain
If inflation is 10%, they will probably get 10% extra income soon enough and rates might go to what 1%?
Unless they are really reckless i would not worry too much for them
Reality is you’re aren’t far from the truthThey will be fine, should be rite, pick up a few extra shifts and sleep in the hospital. Who cares they will never spend time in the mcmansion Its about the bragging rights in the lunch room anyway right?
They will be fine, should be rite, pick up a few extra shifts and sleep in the hospital. Who cares they will never spend time in the mcmansion Its about the bragging rights in the lunch room anyway right?
Have you worked with many millennials??
You are lucky to get them TO the job let alone pick up extra shifts and sleep at their workplace.
As a millennial co-worker explained to me, that how I lived for my job where his job is just to support his lifestyle and the job will treated in direct proportion to how it meets his needs.Can't say I have,
As a millennial co-worker explained to me, that how I lived for my job where his job is just to support his lifestyle and the job will treated in direct proportion to how it meets his needs.
Had to concede he was correct on many levels.
the education system had a part to play in that thinkingI can't say I don't agree, can't stop the wheels of time and progress whatever direction may be heading. Thinking and habits change with each generation.
There is a well located property near us, city views , harbour views, (negatives are S facing and next to anodyne walk-up apartment blocks).i would expect an uneven slide ,
-- quality properties ( not mansions ) well located will hold the value better
-- the top end ( mansions ) and lower end will face more pressure from slower credit markets
Until the interest rate on savings deposits at least meets or exceeds the rate of inflation, cash is still trash. Those who do not pay down debt or fixed loans at artificially low interest rates deserve no sympathy.ANZ will also increase the bonus interest rate on Progress Saver accounts and ANZ Plus accounts by 0.50 per cent pa.
There is a well located property near us, city views , harbour views, (negatives are S facing and next to anodyne walk-up apartment blocks).
It underwent a hugely complex upgrade optimising the block, modern extension, award winning suspended floors, top of the line fit-out, etc
Came on market with a price range $15mill with the usual high-end marketing at the start of year. Passed in at auction, then listed forTrade Sale. Then we walked past the other day, and the removalists were taking everything out and a sign on the gate stating it was repossessed. Clearly someone is blowing a lot of money.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?