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Election winner must fix up housing issue, page-64

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26/05/22

16:36

Post #: 61642495
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Originally posted by Pastry1 ↑

1:3 ratio gives a simple answer is if you can work for 4 years (esp on Duel incomes) save and buy a house outright, i laugh because i had a patient (Husband and Wife) the other day who im not even sure would be classed as boomer they might of been the generation before them (silent generation?) they purchased there house in Spotswood (a fairly expensive Area In Melbourne) when they were both in there Early 20s outright for 8000 Pounds (i dont know what that would be in dollars today but it sounded reasonable) and have been there ever since - they now had it up for sale for around $2-2.5m - their response was they both worked fairly hard for a few years before having children and paid there house outright.

I do think Boomers 'worked harder' then us Millennial they were part of a time when Annual Leave, Sick Leave, ADOs etc did exist - my Father was very much part of the Union Movement to fight for 'better' conditions - i do think my generation takes these full time benefits for granted. We also enjoy the 'added' benefit of super which until recently was always 9% (now 10% soon to be 10.5%) which the older Generation mostly missed out on. - however i reckon by the time im 67 there wont be any pension so my generation will miss out on that support.

Im not a ignorant millennial but when it comes to the issue of 'home ownership' if you dont have parents who can give you a decent chunk of cash it isn't easy - but it can be done

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Hi Pastry

I think you need to return to school and study maths

Also when they bought, Spotswood was a very poor area and the basic wage was about £21 per wk for a good tradesman
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