Every generation throws up it's own set of challengers. Most 30...

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18/09/21

15:11

Post #: 56173918
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Originally posted by Sidonicus1: ↑

The property ponzi scheme created such phenomenal wealth generation for current pensioners. There is nothing hard working or smart about buying a house and sitting on it for 40 years. Just dumb luck. Do you think that will be the same for future pensioners? Owning your own home is pretty much beyond the reach of your average Melb or Syd nurse, police, teacher now.

Income is not increasing, workforce has been casualised, "industrial relations" means job security is non existant and a simple home costs over 10 x
average income. They days of mom looking after the kids and Dad having the same job for life chipping away at the Aussie dream are gone. No more off to the $10k shack on the weekends, then selling it for $600,000 dollars in retirement. These poor sods will do it much tougher than us who had the 1st day wicket to bat on. They are on a dry 4th day pitch with cracks you could lose you car in, not just the keys.

As the techno lords take over a living wage will become a more serious discussion, AI, robotics and automation are not much longer futuristic fantasies. .

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Every generation throws up it's own set of challengers. Most 30 to 40 year old's have never seen a downturn. So that is the immediate generation below the baby boomers. The boomers kids if you like. Many of them have bought and sold half a dozen properties already and ridden the real estate wave. If you have not had the nouse to buy at least one property and you are 40 you might struggle. However there have been means of salary sacrifice to Super etc that may still get you over the line. WE all know there are many who are 40 from under educated or generational welfare types who will struggle to the finish line. I am middle class so do not know many of these types. The next lot are the 20-30 year old's. Want to be well educated if you are in this group. Many are and have double degrees. Super will work for them and although their salaries will probably not be as good as generation above there will still be plenty of opportunity to get ahead. Maybe NOT buying a property makes more sense these days. Blah blah blah. Add to all this the fact that many people will be leaving $$$$ top ups to their children as the boomers like myself all pass in the next 15-30 years. I know many people who came from "the wrong side of the tracks" who have elevated themselves into the middle classes from very poor families. Thus it will always be...strive struggle and be happy with what you have. Each one to their own abilities. A bit of luck helps also.
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