Australia housing bubble

[XB GS 351 Coupe]

Excuses excuses.

Not everyone has to live in the city (really I don't understand why anyone would) there is plenty of work everywhere, I have moved twice in the last 5 years, once from Sydney to North west NSW, you can buy a decent house in a nice country town for 120K I have seen house sell for as little as 15K on a 1/4 acre block recently.

They needed some work, they are not McMansions, but are decent properties in nice areas.

Most recently bought three acres 25 minutes from Port Macquarie, 15 minutes from the best beaches in the world for 165K, paid cash and had enough change to build two sheds and a house...stuff living in the city

My day today was get up at 9am, drive to Port, have a coffees at Settlement City, walk along town beach, buy a new fishing rod for my kids, come home and cook the BBQ for dinner, tomorrow will be get up at 9am go to the gym then poke around the shed working on one of my projects, before getting some ribs in the smoker for dinner, stuff living in suburbia being a slave to the mortgage, life is too short for that crap, then fishing with the kids on the week end....I know it's hard to take...

Originally Posted by XB GS 351 Coupe

Not everyone has to live in the city (really I don't understand why anyone would) there is plenty of work everywhere

What do you guys do for work that you can live so far away from the city?

[XB GS 351 Coupe]

Originally Posted by leesa

What do you guys do for work that you can live so far away from the city?

Do whatever you do in the city, you do realise there are all the same jobs in the country or the coast that you have in the city.

I never understood why anyone works at Coles in Sydney when you can work at Coles in Coffs Harbour, or Port Macquarie or Forster, etc etc earning the same money but you only pay 1/5th to 1/10 to live walking distance from the best beaches in the world.

There are mechanics, realestate agents, office jobs, trade jobs etc etc same as Sydney.

The city is not even relevan, the only ones that care about the city are the people living there, the rest of the country could not give two hoots.

Down the road from me they are selling brand new house and land packages for under 500K walking distance to the beach, some blocks even back onto the beach, seriously, people in the city need to wake up and smell reality.

[.:4:.]

Originally Posted by leesa

What do you guys do for work that you can live so far away from the city?

I'm not taking a dig at that comment but I work in electrical in high rise comercial buildings so I have a need to be around a cbd. Keeps me in a job as its all I know.

[XB GS 351 Coupe]

Originally Posted by .:4:.

I'm not taking a dig at that comment but I work in electrical in high rise comercial buildings so I have a need to be around a cbd. Keeps me in a job as its all I know.

My neighbour is an electrician he has more work than what he wants and he refuses to travel more than 20 minutes from home for any jobs.

Originally Posted by XB GS 351 Coupe

Do whatever you do in the city, you do realise there are all the same jobs in the country or the coast that you have in the city.

I never understood why anyone works at Coles in Sydney when you can work at Coles in Coffs Harbour, or Port Macquarie or Forster, etc etc earning the same money but you only pay 1/5th to 1/10 to live walking distance from the best beaches in the world.

There are mechanics, realestate agents, office jobs, trade jobs etc etc same as Sydney.

I can't. Silly me picked a line of work that doesn't seem to exist outside of capital cities. Not only that but my industry is one that has been affected by 457s so I should be lucky to have a job at all.

BTW I wouldn't call a job at Coles sufficient to save for a deposit and/or pay off a mortgage at today's values. Same for mechanics, real estate agents and office jobs.

Originally Posted by .:4:.

I work in electrical in high rise comercial buildings so I have a need to be around a cbd. Keeps me in a job as its all I know.

So do I, which is why I find it a bit average that others can take a potshot when the only difference is that people like XB GS 351 Coupe managed to be born and reach adulthood before property prices skyrocketted. And look at him rubbing everyone's noses in it... as if his position was achieved with nothing but hard work from his part. Uh huh.

[.:4:.]

Originally Posted by XB GS 351 Coupe

My neighbour is an electrician he has more work than what he wants.

Mate I'm run off my feet as it is. I'm not wanting or trying to create an argument, but I'm in it for the higher paying work and I like to be close to family. I have my own family and you will probably agree you put your own family before your greater family but you still want to stay connected.

[XB GS 351 Coupe]

Originally Posted by leesa

I can't. Silly me picked a line of work that doesn't seem to exist outside of capital cities.

BTW I wouldn't call a job at Coles sufficient to save for a deposit and/or pay off a mortgage at today's values. Same for mechanics, real estate agents and office jobs.

Must be a strange job.

Working at Coles is plenty enough once you get out of the city, but that was only an example anyway.

A friend of mine just bought a house on around two acres for 60K and he walks to work doing general farm work, no skill required.

I have seen houses sell for as little as 15k, 80-150k will get you something pretty decent, we paid 165K for three acres 25 minutes from Port Macquarie.

People just need to take the blinkers off.

[XB GS 351 Coupe]

Originally Posted by leesa

So do I, which is why I find it a bit average that others can take a potshot when the only difference is that people like XB GS 351 Coupe managed to be born and reach adulthood before property prices skyrocketted. And look at him rubbing everyone's noses in it... as if his position was achieved with nothing but hard work from his part. Uh huh.

Here come the usual excuses, oh he was just lucky, etc etc

No it was hard work and planning, I could have done what 90% of my mates did and I would still be where they are.

I paid 165K for my first house and that was a hell of a lot of money, as a matter of fact it was more than I could afford at the time, hence working 70-80 hours a week in two jobs and often having no money to even put fuel in the 25 year old rust bucket I was driving, buy hey I was just lucky I guess

The difference is I made my own luck and I did what others were not willing to do, now I am reaping the rewards of this and people not willing to do what it takes whinge and whine about how hard their life is, I hear it all the time...

Originally Posted by XB GS 351 Coupe

Here come the usual excuses, oh he was just lucky, etc etc

No it was hard work and planning, I could have done what 90% of my mates did and I would still be where they are.

I paid 165K for my first house and that was a hell of a lot of money, as a matter of fact it was more than I could afford at the time, hence working 70-80 hours a week in two jobs and often having no money to even put fuel in the 25 year old rust bucket I was driving, buy hey I was just lucky I guess

So no acknowledgement that you were born in what could be considered a generational sweet spot between recession and the boom that started the property prices? Where work was plenty, university degrees were free, housing-to-income ratios were still considered reasonable even despite higher rates? None of that had any bearing whatsoever? It was all you, yeah?

[.:4:.]

Why is this turning into a flat out argument bitch session? Houses aren't cheap and unless your job description is well paid rich person you have to work to be able to do it. I'm on an hourly rate so if I want to earn more money I have to work longer hours. It's a pretty simple equation. I have got atleast somewhere in the scheme of life but it's just a start so nothing impressive, but there was a time when 7 day weeks made it possible. Nothing is impossible if you put the effort in. Things are just impracticable.

[XB GS 351 Coupe]

Originally Posted by leesa

So no acknowledgement that you were born in what could be considered a generational sweet spot between recession and the boom that started the property prices? Where work was plenty, university degrees were free, housing-to-income ratios were still considered reasonable even despite higher rates? None of that had any bearing whatsoever? It was all you, yeah?

What a load of rubbish

So having to work 70hrs a week just to cover the mortgage with two incomes, paying 17-19% interest on your loan is a sweet spot

My parents paid 65K for their house in Sydney and trust me they were broke, we lived with no A/C, no luxuries, no holidays, no smart phone, no computers and drove a crappy old car.

My dad was a tradie getting up at 4:30am driving an hour and a half to work each way, mum had two jobs just to make ends meet, I started work at 15 often having two or more jobs while studying at TAFE, yes we had it easy

Stop making excuses and take responsibility for what you want to achieve and do what it takes to get there.

[XB GS 351 Coupe]

Originally Posted by .:4:.

Why is this turning into a flat out argument bitch session? Houses aren't cheap and unless your job description is well paid rich person you have to work to be able to do it. I'm on an hourly rate so if I want to earn more money I have to work longer hours. It's a pretty simple equation. I have got atleast somewhere in the scheme of life but it's just a start so nothing impressive, but there was a time when 7 day weeks made it possible. Nothing is impossible if you put the effort in. Things are just impracticable.

House have never been cheap, but people used to just shut up and get on with it, now they whine and complain that they cant have the latest car, best euro holiday and four bedroom McMansion with the works all anded to them.

I have always worked for hourly rate, generally low hourly rate in basic manual labour jobs to get to where I wanted to get to I had to sacrifice lots and work more extra hours than I would like to remember.

I was lucky to get one day off a month throughout my 20's and early 30's if that, often working away from home for two to three weeks at a time travelling to where the work was.

[.:4:.]

Originally Posted by XB GS 351 Coupe

House have never been cheap, but people used to just shut up and get on with it, now they whine and complain that they cant have the latest car, best euro holiday and four bedroom McMansion with the works all anded to them.

I have always worked for hourly rate, generally low hourly rate in basic manual labour jobs.

So basically your saying and backing up what I was saying with do the extra work to make something of yourself as opposed to being lazy in life and complaining about why everything is too hard to achieve. It's not easy to achieve anything unless you are prepared to go above and beyond.

[XB GS 351 Coupe]

Originally Posted by .:4:.

So basically your saying and backing up what I was saying with do the extra work to make something of yourself as opposed to being lazy in life and complaining about why everything is too hard to achieve. It's not easy to achieve anything unless you are prepared to go above and beyond.

Yep has always been like that, unless you managed to get a good job that pays exceptionally well, and then I know a few people who earn three to four times what I earn yet are still renting and living like teenagers in their 40's

No different then and no different now.

Just annoys the crap out of me when people claim I was 'lucky', trust me when you do the work, put in the hours you will get 'lucky', sit around, feel sorry for yourself and whinge and whine and you won't get 'lucky'.

It's called making your own luck.

[.:4:.]

Originally Posted by XB GS 351 Coupe

It's called making your own luck.

I prefer to think of the extra hours as proving your worth. You never get a pay increase if you cannot prove you are capable of doing the work.

[b0son]

Like Godwin's law, it was only a matter of time before someone trotted out the 17% interest rates. How many months did they last?

We're at record low rates right now, and affordability is as bad as it was at 17%, but while that was the worst you experienced, this is as good as it gets for those entering the market.

So before you ask anyone to take their blinkers off, best you heed your own advice first.

[nuthin' fancy]

Originally Posted by BENT_8

Sorry mate, I just figured the state of the economy at various stages and the supposed housing bubble were kind of related and the rule you posted doesn't mention off topic conversation.
I thought the warning was with regards to the political aspect as opposed to just being off topic.
Mind you, and don't take this as an attack, but don't you think its a bit hypocritical to post rules on politics when your sig says 'vote yes'

Just sayin'

I used my discretion....

Glad you noticed, but

[BENT_8]

Originally Posted by nuthin' fancy

I used my discretion....

Glad you noticed, but

Lol..
And by a South Australian too, better hope that trend doesn't continue at Adelaide Oval tonight

Aw c'mon, a little light hearted banter never hurt anyone and its getting depressing learning of XB's wealth.

[jpblue1000]

I had to get up before I went to bed and then lick the road clean. Yet I made something of myself.
Oh it woes me!
JP

[GASWAGON]

Fair enough if you have the option to work heaps of O/T like i used to but what about the standard 38 hour a week workers?

Not everyone can work 70-80 hours?

Not to mention it can burn you out like happened to me.

[Work Horse]

Originally Posted by jpblue1000

i had to get up before i went to bed and then lick the road clean. Yet i made something of myself.
Oh it woes me!
Jp

Luxury!!

[ba-wagon]

"No different then and no different now."

That's the thing. ...
It IS different.

When my father started out, an average male wage could afford to
-buy a house
-buy a car
-get married to a woman (who did not have paid work)
-raise a family

It's MUCH harder for my generation and it's going to be MUCH harder again for my kids generation.

The question that needs to be asked is
"Is this what we want for Australian society?"

[Mercury Bullet]

I agree with xb in that more people should be looking at the country.
Housing is cheap, you don't need to earn $200k just to pay the mortgage. You could happily live on $50k.
It's all relative.

And talking of relativity here is where i disagree with him.
A long long time ago in a galaxy far far away.
When I was entering the housing market I was earning around $30k /annum an average 3 bedroom one bath was around $90k so the housing to income ratio for me was 3x..

What is the average income vs average house price now? I don't know but I bet it's a he'll of a lot more than 3x.

One big difference I note between now and then is back when I was younger people were content with 3 bedrooms one bathroom. Not any longer, it seems these days people must have mcmansions with no yard or at the very minimum 4 bed 2 bath.

[b0son]

Originally Posted by Mercury Bullet

One big difference I note between now and then is back when I was younger people were content with 3 bedrooms one bathroom. Not any longer, it seems these days people must have mcmansions with no yard or at the very minimum 4 bed 2 bath.

Most 3bedders are in more established areas. That usually means, closer to metro and a bigger block ... $$$$$

If you want a modest 3br/single garage home on a small block, out my way, its still going to set you back close to $700k because about the only way to buy a small house is in a new estate.

Yes, you can buy a dingy little 1br studio apartment, but the thing people continue to ignore is to get that 10-20% deposit, you are saving for YEARS. By the time you have one together, 1br isnt big enough - people already have kids by that stage.

[BENT_8]

Originally Posted by CoolBFWagon

Fair enough if you have the option to work heaps of O/T like i used to but what about the standard 38 hour a week workers?

Not everyone can work 70-80 hours?

Not to mention it can burn you out like happened to me.

Why on earth would anyone want too, I just don't get it, you may retire with hundreds of thousands of dollars of cash and assets but you cant buy the precious time you've missed with your family, that's if you have the energy and time to make one after working 12hr days every day of the week.

And what for in the end, you cant take it with you and if you've raised your children well enough they shouldn't need you to set them up.
This idea that the we have to be the saving grace for future generations is laughable, do you think anyone will care how many hours you worked, how much you saved and how much you went without to achieve it, no way, they'll just complain to their psych that their Father wasn't there for them during their impressionable years, been there seen it all before.

Don't get me wrong, if that's your thing them go for it, but the expectation that its the only way to lead a successful existence is a myth at best.

[roKWiz]

Originally Posted by Mercury Bullet

I agree with xb in that more people should be looking at the country.
Housing is cheap, you don't need to earn $200k just to pay the mortgage. You could happily live on $50k.

Keep it to yourselves mercury and xb, it's nice and quiet out here we don't need townies moving in complaining, there's no services, there's no NBN, there's no smashed avo on potato chia bread.

Personally though I grew up in Sydney and rented there for years but have never looked back when I left.

[Work Horse]

Originally Posted by roKWiz

Keep it to yourselves mercury and xb, it's nice and quiet out here we don't need townies moving in complaining, there's no services, there's no NBN, there's no smashed avo on potato chia bread.

Personally though I grew up in Sydney and rented there for years but have never looked back when I left.

For pity's sake it must be like living in the dark ages!

And what the hell do you do if you run out of milk at 2.00am??!!

[roKWiz]

Originally Posted by Work Horse

For pity's sake it must be like living in the dark ages!

And what the hell do you do if you run out of milk at 2.00am??!!

There's a dairy down the road, remember them.