love how the pundits can use some figures to produce a 'scaredy cat report' to prove half the story to suit their prejudice
the 1965-2010 report uses the same figures provided by the ABS,REIV (as per my link to the same original authors for the 1986-2006 report)
****but they deliberately omit to use the household income disposable income figure from their report... that is a huge discrepancy
love it, on the chart they show 50-85% of salary required to support those house prices... how ridiculous is that.....
love how they ignore the two household income, which is the norm today
please feel free to believe whatever you want...but avoiding the facts will be to your detriment
so many posters will ignore the reports put out by a govnut dept, but will use as gospel, a chart put up by a blogger.... no wonder they whinge about missing out...and instead prefer to wait for a miracle... when in fact they are only looking at half the story... and have based their investment decision process on a falsehood.
the first of the baby boomers who purchased their homes from 1966 at $9700(age 20 )or $32900 at age 30 would have paid off all the mortgage by now and sitting pretty contrary to the noise out there, about boomers being maxed out and needing to sell up
the last of the boomers 1982 $46750(age 20) at 1992$132900 at age 30, would have paid off the the bulk of their mortgages by now....and must be looking good in 2011
there is also an interesting theme there...myself and all of my friends, all married at around age 20, so our houses were a third of the price, the late comers had to pay, and the last of the boomers paid 13 times that of the first boomers.. they apparently wait until they are in their 30's and 40's today before moving out, and buying their first home... wow, so had they purchased at age 20 in 1990 cost $141500, waited till age 30 cost $249800, or age 40 $524500
buying a home, is like a forced saving plan... so all those years spent idly with mum and dad, and spending all their money on having fun, has cost them a massive amount... I bet most of you will still deny, buying a house has been a great investment
