Well of course the answer is NO. The average family has a home. Peter Your question is incorrect from the very beginning. and if the market decides the price is $1m plus then how can the market be wrong?? Some people are just as thick as shit. Peter
And yet your opening statement was about expecting interest rates to stay in double digits for 8 years. It must be hard to admit that those property investors who piled into Sydney in 2008 have cleaned the floor with you.
And yet your opening statement was about expecting interest rates to stay in double digits for 8 years. It must be hard to admit that those property investors who piled into Sydney in 2008 have cleaned the floor with you.
I have investments elsewhere that have done just fine thanks. Also, read my fucking post again anonymous shit head.
Peter, is it then you professional advise to borrow the deposit from mom and dad and pretend that it has been saved? Do the banks agree? If so, I think you should be investigated.
Actually, 8 years ago, if instead they borrowed 100k from their parents they could have bought the same house for probably under $700k, and what they were paying in rent could have gone to the mortgage.
Saving up for years to build a deposit is for suckers, that is why probably not many people do it, they just borrow the deposit from someone else and tell the bank it is their's.
getting 100k from the parents is not even an option for a great many people ... and the only option is to save up that deposit... rather than boasting of a bank of mum and dad to get you started, be thankful you were given that opportunity... it puts you years ahead the rest of us.
When an average person with an average job, teacher, policeman or nurse, cannot afford an average house close to where they work, we have a problem.
A lot nursing jobs are at major hospitals. Do you really think a nurse on average wages should be able to afford a house around the RBH, PA, or the Mater? A teacher or cop should be easily able to afford an average house close to where they live - as long as they are not posted in the inner city.
So if someone cleans shitters for a living in the Sydney CBD, we have a problem because they can't afford a house close to the CBD?
You sir need go back and finish your homework.
Master Josh I said an average job, not a cleaner or blue collar worker.
zaph
31 Aug 2014, 03:35 PM
A lot nursing jobs are at major hospitals. Do you really think a nurse on average wages should be able to afford a house around the RBH, PA, or the Mater? A teacher or cop should be easily able to afford an average house close to where they live - as long as they are not posted in the inner city.
Zaph I agree, they should be able to afford an average home close to their work. I fear, they can not.
So if someone cleans shitters for a living in the Sydney CBD, we have a problem because they can't afford a house close to the CBD?
You sir need go back and finish your homework.
Which is why they wipe the sink with the same cloth as they wiped the toilet seat. They have no reason to give a fuck. Why should there be no room for working people near where they work? The distortion in living arrangements has gotten beyond what is natural. You want someone to work casual/part time for min wage maybe 3 hours per night but they need to spend 2 hours each way travelling? These new multi story flats should not be just storage units for stolen Chinese money. Real people should come first.
When an average person with an average job, teacher, policeman or nurse, cannot afford an average house close to where they work, we have a problem.
A couple consisting of a teacher and a copper, or similar combination, actually earns quite a tidy household income. It would be in the order of $150k+ in most cases, and that's in very secure jobs with lot's of holiday's, paid parental leave schemes, working hour flexibility and so on. People like this get along quite well and buy houses in Sydney all the time.
PS - and that highlights the problem with the premise and example in the OP - the million dollar suburbs in Sydney represent the top 20% or maybe 25% now of suburbs. A couple on $135k household income with no equity other than their cash savings trying to buy their first home in one of these suburbs is not right example to be using - if they buy in one of the many suburbs with median houses prices of between $500k and $800k, they would comfortably be able to afford their first home without stretching in terms of the mortgage, and this pay if off much faster than the 30 year term on minimum payments only.
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