Mark _australia said...

lotofwind said...

Mark _australia said...

I think one of the main issues facing Australia now is housing, as we have allowed it to become an investment for the rich.

So I smoke, drink like a fish and spend it all on windsurfing gear. As soon as the oldies and in-laws cark it then I'll get a house.

I hope thats sarcasim,Im guessing it is,, otherwise is not a very healthy out look on life.

Which part?

Both,but
Mainly the second part.

^^^ nah the first part was serious.

Govt tax break policies have dictated that housing is an investment (very profitable one at that) which is terrible when it should be accessable to the average person
You seriously need to try and buy a house in perth as a first home owner earning say $50K. Even a sh!tbox....

smicko said...

Cloth nappies is a big one too.

You bet. When there are no more babies you have some great car washing and polishing rags.

cisco said...
Couldn't agree more with both of you.

Getting into a real estate investment at an early age is one of the best things a person can do as long as it is planned correctly ie within reasonable expectations and affordable.

If you're a materialist nester... if you're a nomad, it's like a gilded ball and chain which somebody can even hold, holding you.

Sure if you've got plenty of money, property is a good hedge... if you borrow money to get it, you better hope it's going up more than the aggregate interest/inflation rate... it was a very smart move to buy in 1995-2003... now it's just plain dumb.

That home vendors grant we had in 2009, has the potential to bring some banks down > forcing a bailout (our tax money).

FlySurfer said...

cisco said...
Couldn't agree more with both of you.

Getting into a real estate investment at an early age is one of the best things a person can do as long as it is planned correctly ie within reasonable expectations and affordable.

If you're a materialist nester... if you're a nomad, it's like a gilded ball and chain which somebody can even hold, holding you.

Sure if you've got plenty of money, property is a good hedge... if you borrow money to get it, you better hope it's going up more than the aggregate interest/inflation rate... it was a very smart move to buy in 1995-2003... now it's just plain dumb.

That home vendors grant we had in 2009, has the potential to bring some banks down > forcing a bailout (our tax money).

I regard real estate as a vehicle to wealth that will finance the nomadic lifestyle.

That vehicle is available to most people.

Real Estate is cyclic in nature and therefore there are right times to invest or divest.

It is a game like most things in life and with any game if you know the rules intimately and strategise, you can win at it.

Any game, like life, has only three guarantees. You will enter it. You will be in it for a limited time. You will leave it at a future date.

jsnfok said...

evlPanda said...

Does anyone support a family on an average ($~60K) income, just dad or mum working?

How the **** do you do it? Serious question.

i work for my self, we are a young family, im 23, have a carpentry business and its been really good, we just had a little boy and expecting another, although we arent earning alot of money we live fine, its just budgeting, i cant buy alot of gear, but it works out for me cause i dont have a lot of time to go sailing or surfing, supping, fishing, wakeboarding, plus im also doing my diploma in contruction, so im just too busy most of the time.

we know we cant go out and live outside of our means, too many first home buyers think that their first home should be a 4x2 with a double carport near the city, instead of realising that mabe a $450 000+ loan is a little too much for them to handle straight away...

its nice to have all the gear, but i know i cant afford to lash out so i dont, no point in loading up a credit card if you cant pay it off,



to those that do have it all, good on ya, you worked hard for it, enjoy it, im genuinly happy for you. One day i hope to do the same!!!

P.S to everyone paying taxes, chears for the baby bonus

Here are some tips on kids (they cost a motza and will send you broke in no time the baby bonus will be gone in no time ) .Make sure that they understand that you are poor . Also make sure that they think that older cousins and older kids from your friends families are cool so that when they get hand me downs they are stoked .Hopefully for your sake ripped shorts will be in fashion for a while yet .Don't let them eat sugar and salt .they;ll get a taste for it ,It's usually packaged up in flashy products that cost heaps and don't take them shopping supermarket shelves are designed to have all the expensive crap right at their eye level and their pestering will drive you mad .and make it clear to friends parents that you are hippies and that your kids only eat whole food ,no fish and chips maccas and the like .Get them to understand that Grandparents are the ones that are the source of funding like holidays and trips to the movies etc. Don't let them play soccer .You will end up driving them everywhere on weekends if you have 2 or more kids then 2 cars will be essential to drive them around in ,(even more horrendous expense) ,(particularly if they are good at it and get into rep) make sure tey get into bike riding ,perfectly good Bikes can be found left out on the side of the road at chuck out time plus they will now have the means and willingness to get themselves around. At the end of their childhood do not EVER think that you have a responsibility to pay for a car or even worse a wedding . If you do Scout halls are perfectly good for weddings (plus you cn have a bonfire which is cool) and it's an ideal time to introduce them to the treat of fish and chips.

Mr float said...
Here are some tips on kids (they cost a motza and will send you broke in no time the baby bonus will be gone in no time ) .Make sure that they understand that you are poor . Also make sure that they think that older cousins and older kids from your friends families are cool so that when they get hand me downs they are stoked .Hopefully for your sake ripped shorts will be in fashion for a while yet .Don't let them eat sugar and salt .they;ll get a taste for it ,It's usually packaged up in flashy products that cost heaps and don't take them shopping supermarket shelves are designed to have all the expensive crap right at their eye level and their pestering will drive you mad .and make it clear to friends parents that you are hippies and that your kids only eat whole food ,no fish and chips maccas and the like .Get them to understand that Grandparents are the ones that are the source of funding like holidays and trips to the movies etc. Don't let them play soccer .You will end up driving them everywhere on weekends if you have 2 or more kids then 2 cars will be essential to drive them around in ,(even more horrendous expense) ,(particularly if they are good at it and get into rep) make sure tey get into bike riding ,perfectly good Bikes can be found left out on the side of the road at chuck out time plus they will now have the means and willingness to get themselves around. At the end of their childhood do not EVER think that you have a responsibility to pay for a car or even worse a wedding . If you do Scout halls are perfectly good for weddings (plus you cn have a bonfire which is cool) and it's an ideal time to introduce them to the treat of fish and chips.

In brief... DON'T HAVE KIDS

^^^^Sniff it....shelf it.....meh, same effect.

but what if you fart

theDoctor said...



^^^....and don't ever let your kid get their hands on a gun

Because they'll come around and shoot the sh!t out off your penny pinching arse for being such a miserable miserly bin scabbing grinch....

Well this was what I was getting at. It must be tough.

A $60K income barely covers a small mortgage, a wife and two kids. There's no room for things like "uh-oh, the garage door's broken".

$60K = $930/week. I'll ignore tax benefits and the like for simplicity's sake.

Let's say you are renting a place for $400.
The remaining $530/4 people = $132
= $20/day per person for everything.

A new bike is a serious dent in that budget.
So is going to the movies: $14 x 4 = $56, forget popcorn.

I took my son to the museum in Brisbane from the Gold Coast: free entry and $40 train tickets.

Forget a car and all its depreciation, fuel, tyres, maintenance, parking and repairs.

etcetera etcetera.

I am not personally in this position, far from (for now), but I feel sorrier for those that are than I feel for a homeless guy; he hasn't got the weight of the world on his shoulders.

poor relative said...

I was at my most content when i had nothing.

Kids are great and along with a good marriage, give me the best sense of contentment. We had 5 kids on a teacher's salary whilst the wife studied, (for 20 years) Love coming home to the family and a house that is still in mortgage after 27 years. Debt is a worry but if you, the missus and the kids are happy, that's a big part of a contented life.

poor relative said...

I was at my most content when i had nothing.

Plenty is never enough.
lol.

baywavebill said...whilst the wife studied, (for 20 years)

really.......20 years of study!!!!!!!!!

what is she now- a brain surgeon, with a side degree in astrophysics who dabbles in nuclear science?

sorry if I sound a bit jaded- but I have seen too many "professional students" take up valuable university places, with horrific debts built up by themselves- often being bailed out by long suffering family, only to end up being barely good enough to drive a forklift.

stephen

sn said...

baywavebill said...whilst the wife studied, (for 20 years)

really.......20 years of study!!!!!!!!!

what is she now- a brain surgeon, with a side degree in astrophysics who dabbles in nuclear science?

sorry if I sound a bit jaded- but I have seen too many "professional students" take up valuable university places, with horrific debts built up by themselves- often being bailed out by long suffering family, only to end up being barely good enough to drive a forklift.

stephen
Wife had no qualifications when we married so.......
Started off completing year 12, then with young kids did part time degree by correspondence. Did well so did honors then doctorate in psychology. (All done part time) Now she works at Monash hospital and runs a private practice. Making good use of the years at home with the kids when they were young and we couldn't afford much, has paid off now.

landyacht said...

Subsonic said...
I reckon the best thing that could happen at this point is for the powers that be, to limit housing ownership to two properties per person, and one of the properties must be for sale.

I know its far from being that simple (economies collapsing etc) but I think its time to take a good hard look at the situation that is being created by investment properties

If my other property was for sale then I couldnt run my business, and the low income family that is living in the house on the block would be under a cardboard box or living in a government housing deadend. instead they are slowly saving for something they can buy outside of the "homeswest system"
any other bright ideas to share

If investors never had the oppurtunity to own more than one property, the low income family would no doubt already own somewhere of their own, the price of property never would have gotten out of their reach. When my parents bought the family house my father was earning less than I am now, and feeding five people on his income as well, It was tough for my parents no doubt, but the house was paid off inside 20 years (it was a reasonable sized house on what is now considered a large block), as you say though, it's now at the point where people are stuck in this situation

Im not saying everyone should be able to buy a large house on a big block close to the city, Im saying living space shouldnt be owned by the few and rented by the many.

I should probably point out to other seabreeze investors, I have friends who are investors, I don't dislike people who invest I just hate the concept of rental property investing and think the people that came up with the concept originally should be strung up by the toes and neutered.

how does your business relate to your rental property? (not looking for ways to diss you, Im genuinely interested, I would have thought it a completely separate?)