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Locked Out? Turning 45 and bearing the distinction of being a 'no home buyer' - Sam de Brito; Investors lock out a generation from home ownership
Topic Started: 26 Jan 2014, 03:59 PM (11,619 Views)
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Investors lock out a generation from home ownership

January 26, 2014
Sam de Brito

I turn 45 next week bearing the distinction of being a ''no home buyer'' i.e. I don't own property, never have and wonder if I ever will.

It's largely been a lifestyle decision because to buy property where I choose to live you need to be a hedge-fund manager, Rinehart, or arms dealer, so I pay a boatload of rent instead of buying in more ''affordable'' suburbs.

In my street, a two-bedroom flat with no view, no balcony, no car space and a burgeoning case of concrete cancer will set you back between $600,000-$800,000 - but I like my street, especially trying to work out who is the hedge-fund manager, Rinehart or arms dealer.

I've lived in the neighbourhood since 1986, know a lot of people around here and it's the constant friendly chats with familiar faces that makes up about 32.5 per cent of my happiness; it's nice to feel you belong somewhere.

The sad flipside to this is watching friends who've lived here all their lives forced out of the property market because they now have children and a two-bedroom apartment with no backyard, balcony or car space can turn children into a simulacrum of Christmas Island detainees.

The thing is, I reckon a sizeable percentage of the apartments and houses in my locale are not owner occupied - they're investment properties owned by wealthy families or professionals trying to minimise tax through negative gearing or investing via self managed super funds (SMSF).

Which is just friggin' awesome if you're one of those three groups and all you have to do is roll over in your hammock in the Whitsundays and watch the dollars pour through the bank account app on your iPad.

For the rest of us - the one third of Aussies who don't own property (the lowest level since 1954) - it's not so great but it's a situation we're coming to terms with simply because we have no alternative, save moving to suburbs far away from friends, family and, oftentimes, neighbours with teeth.

Read more: http://www.smh.com.au/comment/investors-lock-out-a-generation-from-home-ownership-20140125-31f52.html
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Trojan
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If a person chooses to pay "a boatload of rent" their whole lives to live in a nice area, that's their decision.
Another person could choose to pay off their mortgage in a more affordable area - that's also their decision.
Both need to live by their decision and not complain how the other side had it easy.
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
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themoops
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He's also just another would be chardonnay socialist who fails to address the elephant in the room, mass immigration, and in fact encourages it. :re:

The whole bear conversation is pathetic. Especially when they talk about top areas.

WHo gives a fuck if Bondi is $800k for a 2 bed, try Tempe, or Bexley. Where it's $400-$500k and way too much. :z:
stinkbug omosessuale


Frank Castle is a liar and a criminal. He will often deliberately take people out of context and use straw man arguments.
Frank finally and unintentionally gives it up and admits he got where he is, primarily via dumb luck!
See here
Property will be 50-70% off by 2016.
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stinkbug
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Alex Barton
26 Jan 2014, 03:59 PM
It's largely been a lifestyle decision because to buy property where I choose to live you need to be a hedge-fund manager, Rinehart, or arms dealer, so I pay a boatload of rent instead of buying in more ''affordable'' suburbs.
So in the 27 years since leaving school this person has been enjoying lifestyle, and is now surprised they might not be able to buy a property where they'd like to live.

Boo fucking hoo.
---------------------------------------------------------------

While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

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Decimator4000
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Hahahahahaha

This is pathetic.

I have to admit I am slightly with moops on this one. Stop trying to live in the fantastic suburbs and go live in the OK ones.

What a fuckin debit!

Get off your high horse, save some coin and buy a fuckin house/unit.
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Pig Iron
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Bogan scum

imagine his surprise when the penny dropped that you can't spend all your money on "lifestyle" and still buy a house
I am the love child of Tony Abbott and Pauline Hanson
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Count du Monet
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stinkbug
26 Jan 2014, 04:41 PM
So in the 27 years since leaving school this person has been enjoying lifestyle, and is now surprised they might not be able to buy a property where they'd like to live.

Boo fucking hoo.
Well not quite, my guess is 2016 (or even now) will be a choice year to buy in the area he is in, the same goes for all his chatty friends. This will be a good time to take advantage of and get hold of whatever loan they can get. Because most the prices in such an area will then climb into the following decade.

Presently he's probably paying 35k a year rent for 2 br flat. Repayments would cost him 10k a year more and he needs to pull together maybe 80k to cover a deposit and incidentals (the price of a upmarket car)

The man from mars has a serious life style investment in Bondi to protect if that's where he wants to live and his culture is worth paying for.

This guy is having a whinge about nothing.
The next trick of our glorious banks will be to charge us a fee for using net bank!!!
You are no longer customer, you are property!!!

Don't be SAUCY with me Bernaisse
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Decimator4000
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Count du Monet
26 Jan 2014, 05:20 PM
Well not quite, my guess is 2016 (or even now) will be a choice year to buy in the area he is in, the same goes for all his chatty friends. This will be a good time to take advantage of and get hold of whatever loan they can get. Because most the prices in such an area will then climb into the following decade.

Presently he's probably paying 35k a year rent for 2 br flat. Repayments would cost him 10k a year more and he needs to pull together maybe 80k to cover a deposit and incidentals (the price of a upmarket car)

The man from mars has a serious life style investment in Bondi to protect if that's where he wants to live and his culture is worth paying for.

This guy is having a whinge about nothing.
And he couldn't do that in 27 years?

Stop pissing it up against the wall.
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themoops
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Count du Monet
26 Jan 2014, 05:20 PM
This guy is having a whinge about nothing.
Are you a bull now Count?

He's right to be whinging about house prices, but not in Bondi.

To be fair he is a writer, and a good one, so it takes time and selflessness to do that. Rather than just becoming a bloodless dislikeable person corporate slut like most of you lot.
stinkbug omosessuale


Frank Castle is a liar and a criminal. He will often deliberately take people out of context and use straw man arguments.
Frank finally and unintentionally gives it up and admits he got where he is, primarily via dumb luck!
See here
Property will be 50-70% off by 2016.
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Frank Castle
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Business As Usual

themoops
26 Jan 2014, 05:52 PM
To be fair he is a writer,

He can do that shit anywhere
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and a good one,

But not good enough to get paid real money
Quote:
 
so it takes time and selflessness to do that.

And people should give a fuck why?
I like doing watercolour's but it also takes time and is a selfless to do
Should I have a big cry because house prices are too high for me to buy one from the earnings of my paintings if I was to sell them?
Edited by Frank Castle, 26 Jan 2014, 06:08 PM.
Ignore posts by The Whole Truth · View Post · End Ignoring
The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
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