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Immigration

cmorrison9 said:
Not much sadly. 3 bedroom 2 bathroom brick veneer. 350sqm block.
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If we’re talking about “young people“ what’s wrong with starting with a 2 bedroom unit?

I know I certainly did and didn’t upgrade to a house till my late 30s
 
southsport said:
Another attack on the Boomers", i personally don't know any boomers that don't have sympathy for the younger generations trying to get into the property market. View attachment 2497

Proof Boomer argument is dead in water​

affordability of house prices over time graph

Is it still possible for the average household to upgrade from an apartment to their dream home? We did the maths and found out.
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​

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I'm 54 so not a boomer, but lucky enough to have a mortgage.
Any commentary on boomers I give the same regard to older people criticising kid's (and their parents for allowing it) fixation with screens. If we were in their boots we would have done the same thing.
 
southsport said:
But can they afford the travel costs to get to work?
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Not if they work in Bathurst🤪 wakeley is effectively Fairfield.
cars and public transport transverse the length and breadth of the sydney to get to work daily
 
captainsutto said:
Not if they work in Bathurst🤪 wakeley is effectively Fairfield.
cars and public transport transverse the length and breadth of the sydney to get to work daily
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True but it can still be a time consuming and expensive commute if a person works in an area of a capital city that is unaffordable to live in.
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captainsutto said:
If we’re talking about “young people“ what’s wrong with starting with a 2 bedroom unit?

I know I certainly did and didn’t upgrade to a house till my late 30s
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Nothing wrong with it at all mate. Fantastic if you can get into the property market in any way.

The issues with doing this though are:
- 2 bedroom units or townhouses are very expensive. Looking at $750,000 plus in my area and I’m not in an expensive suburb compared with some parts of Sydney.
- You also have strata fees to deal with, an extra cost.
- When the time comes to sell and upgrade, to accomodate having children for example, you will need another $500,000 loan to pay the difference in property values. Plus stamp duty. Plus fees. That is assuming you can get a loan. You probably wont be a young person anymore if you’ve paid off/made any sort of dent into your mortgage. Mortgages take 30 years to pay out!

If you haven’t made a dent in your mortgage and want/need to upgrade, you then sell the unit, pay the fees to do so and of course the balance of the loan. After doing so, you’re not left with much in the bank account. You now need to borrow a lot more money and this time have to come up with a 10% deposit, plus fees, plus stamp duty, as you are no longer a first home buyer.

So you see, for a young person, it may be better off to buy a suitable family home straight up. One and only mortgage you have for life.

Honestly, I think it’s pretty bleak for young people. I do fear for my children. How will they cope? Where does it stop?

Extremely disappointing that over the years, we have systematically made it terribly difficult for the most vulnerable people of our society. The elderly/disabled and the youth.
 
southsport said:
True but it can still be a time consuming and expensive commute if a person works in an area of a capital city that is unaffordable to live in.
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But that one’s of lives choices mate. I moved from the area I grew up in so I could buy and decided the travel was worth it. The greater good was a foot in the realestate market door.
it’s always been a decision to sacrifice things if you want home ownership in this country.
No doubt it’s got harder but still achievable if you really want it
 
Being a boomer there is one service that i cant remember having that young people today have is child care, i had my first child in 1983 and from what i can recall there was no child care centres, i realize its expensive for our young people today but at least its there, in my day if you didnt have a grandmother to help out you were confined to a single income, my first home in 1986 was 46,000$ and the interest rate was 14%, the house today would be over 500k$ more than 10 times the price i paid but wages are nowhere near 10 times higher..
Kent Brockman said:
I'm 54 so not a boomer, but lucky enough to have a mortgage.
Any commentary on boomers I give the same regard to older people criticising kid's (and their parents for allowing it) fixation with screens. If we were in their boots we would have done the same thing.
Click to expand...
 
Bluey said:
Being a boomer there is one service that i cant remember having that young people today have is child care, i had my first child in 1983 and from what i can recall there was no child care centres, i realize its expensive for our young people today but at least its there, in my day if you didnt have a grandmother to help out you were confined to a single income, my first home in 1986 was 46,000$ and the interest rate was 14%, the house today would be over 500k$ more than 10 times the price i paid but wages are nowhere near 10 times higher..
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My first child came in 1980 and the second in 1981, we went back to one income as there was no one to help us but now we are helping with our granddaughters.
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southsport said:
My first child came in 1980 and the second in 1981, we went back to one income as there was no one to help us but now we are helping with our granddaughters.
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I bet you didn’t have brand new everythings. 65” tv, 5 streaming services, shinnny dishwasher, oven, $1000 phone, a ram or ranger🤔
 
captainsutto said:
I bet you didn’t have brand new everythings. 65” tv, 5 streaming services, shinnny dishwasher, oven, $1000 phone, a ram or ranger🤔
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No none of that, I was fortunate that my father lived on the south coast and I could have a cheap holiday though.
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