Australian population - The biggest loser$ 2018 - 2019, page-88 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

Originally posted by empror: ↑

Ahh you have a different point of view good to chat

The $11.00 p/h was the average wage still have the pay slips $ to be more accurate $ 11.40 and mind you I wasn't a labourer I was supervisor on night shift which added 30% loading at the time (my choosing in order to pay bills.)
let's see with the new generation
Netflix costs $10 p/ month for single device but I do believe it doesn't work without internet $ 60 to 90+ dollars per month and these day most have Netflix on multiple devices so $15 per month so now we are up to $75 to $95

Let's not stop there let's see
Uber eats if used once a week ends up being $30 per/ month
The take out its self let assume once a week $20 (very conservative) $80/month
now let's add the today's standard of living as these expenses were not every day things in 80's and 90's
Ducted heating as opposed to a an in wall space heater for one room (again conservative) cost to run a month $120 p/m
Air conditioning as opposed to none (again conservative) cost to run a month $ 100 p/m
Mobile phone as opposed to land lines these days everyone has to have the latest gadget (again conservative) $80 p/m including handset payments
The list goes on and it's reached $ 500 + a month already.
Entertainment let's see
Foxtel $60 per month
iPads need wifi or mobile data $ 50 per month
The list goes on .... now $600+ a month
House price were cheaper in our days yes
I bought my first house for approximately $200 thousand back then my interest rate was 17.5% , the interest alone was $33 thousand with a 5% deposit
In comparison to wages annually at $24000 including shift loading,without multiple Jobs , a tight budget with no spending on bells and whistles , occasional week end work and both of us working it would have been impossible to make repayment.
we moved in with two bean bags a small black and white tv on a upside down milk crate and a mattress on the floor for our first 2 years
then worked our way piece by piece as most did to add furniture

The point of the argument I was presenting is today's generation is a consumerist generation they want their luxuries as well as the house and new car up front.

Today a house could cost any wear from $ 650,000 and up depending on where you purchase
The average hourly rate is about $ 28 per hour with salaries on $50+ thousand annually
interest rates are at all time low 3+%
Without the sacrifices of a tight budget and working multiple jobs and 2 people working its would prove impossible its the same boat ride in a different time.
what is the difference is our generation learnt to do without something this generation will have to do if they want to own a home.

you may not agree but I see things differently as it is more a behavioural change that is required

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Yes every generation requires sacrifices to get ahead. But you are still trying to paint today's youth as frivolous spenders.

I don't know a single person under the age of 50 who has foxtel. Likewise no-one i know has mobile data on a tablet, no-one, you use Wi-Fi where possible and download movies for when you don't have Wi-Fi. Counting internet and air conditioning costs as "consumerist spending", as though your generation didn't spend money on them as a choice. No, you just didn't have the option. That's like saying people in the 80's were consumerist for having a fridge.

Even if these costs were valid you're talking about $600 a month. That's $7,200 a year savings to live like a hermit with no phone, internet or air-con. Big whoop. Do you not realize how much house prices in Sydney and Melbourne have been increasing every year? That $7K per annum wouldn't even keep up with the annual increases in the required minimum deposit.
Meanwhile your 5% deposit was equivalent of 5 months wages. Apples and oranges.
Also interest rates were at 17% for all of one year, if you bought your house at the record high interest rates of course it was tough for the first few years.

I don't want this to come across as "woe is me". I have a good income and I'm in Perth where the housing market is as accessible as it has been for over a decade. Personally I'm not struggling, and I agree that in Perth at least, someone on an average wage can still set themselves up if they make some sacrifices. Like the good old days.

But I just don't see how anyone can look at the situation in Sydney or Melbourne and not see that it's a completely ~~f*cked~~ different situation to 30-40 years ago.