Thanks for that You are one of very few who will admit it.... If...

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27/05/23

13:51

Post #: 67994212
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Originally posted by Bunn-Wackett ↑

I'm a boomer and I agree with your sentiment. I use around 3 times earnings to around 10 to 12 times from the 70's 'til now.

Back in the "good old days" we had a three bedroom home with a carport and one car, all home maintenance was done by the owner... there's your 3 times earnings! (roughly of course)

Right now we've got 4 bedroom homes, an ensuite, another bathroom, a home theatre, landscaped gardens, a two car garage housing the biggest liabilities you'll ever own, an outdoor entertaining area that gets used half a dozen times per year because we're now time poor with kids, a monster shed down the back that we don't use because we're now time poor with kids, we get Jims Mowing in, carpet cleaning in, tradies to do handyman work...

Thanks to the developers for their glossy brochures selling us a roof over our heads so big and so extravagant that we can't afford to pay other bills. Who's going to build a simple 3 bedroom home with a carport on a new estate? Thanks also to the government for all their schemes keeping this Ponzi alive.

...and we're struggling compared to the Boomers?

All that money going into the building of a family home benefits our economy only once with the sourcing of raw materials and labour compared to spending money on a business that will be ongoing.

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Thanks for that You are one of very few who will admit it....
If Houses were still 3x Average wage now for a starter property,
Everyone would be happy,
Other than the very greedy....

But Investors should realise that they could also purchase more rental properties for the same money
if they were cheaper.
With that they usually get more rent per $100K spent as well.

Surely even an Investor buying now would prefer purchase their next House for 50% less?

Anyhow our House Prices are actually making us look stupid to the whole World.

People can get far better Value elsewhere....

The way it's going,
Australians will not be able to Afford to live in Australia.

Blame this on decades of incompetence of previous governments,
And Policies such as:
Negative Gearing,
Foreign Investment still being allowed (during a Housing Affordability Crisis, Yet we cannot buy property in there)
And Mass Migration

All done to Buy one generations Vote,
Destroying the future of every other Australian in the process....
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