The 2020 Budget (boomer trigger warning), page-138

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pierogi

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07/10/20

20:09

Post #: 47922999
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Originally posted by Hawka: ↑

There is no doubt whatsoever that the costof housing is more than when I purchased my home in 1969 for $11,000 dollars and from memory I was earning around $4,000.
Ther are so many variables that comparisons are almost impossible however I can advise as follows in respect of my son to whom I referred :-
He earns I understand over $200,000 yearly ( I know he gets very good income ) and the last owner occupier home he purchased two years ago in Country Victoria cost around $800,000.
When he applied for his loan 2 years ago repayment were calculated on both his & wife's income ( our era could not count wife's wage and you had to have 25 percent deposit & repayments could not exceed 25 percent of your salary ) . I think it's fair to say that very many of the generations following us ( except for maybe prudent Europeans ) did not worry about home buying until well into their 30 's and beyond but spent their early earn going overseas etc ( we married when around 22 and purchased our house at age 23) and an overseas trip was not even on the horizon .
Each generation will have their own take on who has it better however each generation has to deal with the circumstances that prevail . Hope I have answered you .

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"Each generation will have their own take on who has it better however each generation has to deal with the circumstances that prevail . Hope I have answered you"

Well. no you didn't. Its not subjective, its a confirmed reality. Just look up the details.

I'm old enough to know you're speaking through your hat, regardless whether you believe it. Houses were so much cheaper relative to median wages.
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