Welcome Guest [Log In] [Register]


Reply
Anyone on minimum wage can afford to buy or rent a home in Australia
Topic Started: 29 Jan 2013, 03:53 PM (22,055 Views)
miw
Member Avatar


herbie
30 Jan 2013, 10:54 PM
Correct me if I'm wrong MIW, but my recollection is that you said recently you got pinged from your job and are going to see how you go not working for the next two years?
Good call. Yes. About 18 months ago I got pink-slipped. In the industry where I worked it is not all that unusual and it was not a big surprise when it came. I was working in a unit that was not actually generating value after all. The worst part of it was being bent over the table by quasi-outsourced HR.

It is an experiment. Financially it seems to be line ball. Engagement-wise it is a bit boring which points to me perhaps joining the job market again. But then again every time I think about office politics and HR units my resolve not to go back to a job is stiffened.

Essentially I have a lifestyle that is stress-free but I have to think and work hard on the financial side. If I got a job my life would contain stress but I could stop worrying on the financial side. Thinking hard about financial things has been very beneficial. If I had started thinking harder about some things in 2003 instead of 2011 I would be much better off now. And I was well ahead of the pack in 2003 in terms of thinking about finances.

Quote:
 
Anyway, specific reason I ask is that I tried staying unemployed for about 4 years. (As a totally self funded retiree - No gov assistance of any sort apart from being entitled to Medicare Benefits as everyone is - I think? Shute, I'm actually the ONLY Oz resident who didn't get some version of Krudd's $900 handout that I know of ... Specifically because I'd minimised my tax SO effectively that particular year I didn't qualify - One HAD to be either a tax payer or a charity case to qualify; And I was neither.)

Worked OK. But not great. Tended to make me a bit bitter and twisted towards all the bludgers I think? (And I got to have a good look at the bludgers 'cause I was [and am] living amongst them - In what the PC types call a lower socio-economic area. Though as a working class boy I'm pretty familiar with a bunch of lower socio-economic stuff regardless.)

But anyway, it's nice to be back at work bringing in good loot now. Though will be even more nice to stop work again maybe? And to continue to live amongst the bludgers 'cause basically I don't especially blame them for just opting to get away with whatever our pathetic gov lets them get away with even though I'm REALLY convinced it's NOT good for them.


I'm not actually bitter and twisted towards bludgers. Hell you could say I am a bludger myself these days. I am bitter and twisted at a government that expects me to fund their lifestyle. If I found I was funding them getting housing assets I'd be even more bitter and twisted.
The truth will set you free. But first, it will piss you off.
--Gloria Steinem
AREPS™
Profile "REPLY WITH QUOTE" Go to top
 
mango66
Member Avatar


Aussiehouseprices
30 Jan 2013, 02:46 PM
So what? In America, anyone with a pulse could become a home owner before the bubble burst. Does that mean that home ownership was affordable or that a crash was unlikely?
Yeah don't mention Ireland either. All those minimum wage earners really could afford those houses. Nothing to do with the banks.
Profile "REPLY WITH QUOTE" Go to top
 
Ex BP Golly
Member Avatar


miw
30 Jan 2013, 10:17 PM
About 40 pages ago (or perhaps in the thread this forked off) the assertion was that a single person on minimum wage could afford to buy a house.

A person on minimum wage with a stay at home wife and 2 dependents would struggle to save for an purchase a house in any of the capital cities.

But then through most of history, people would have said a person on minimum wage would have no business having a stay-at-home wife and 2 dependent children.

Of course these days there are many stay-at-home bong smokers with stay-at-home partners and multiple dependent children. But any policy that aims to make it possible for these people to save for and buy a house is a huge fail. I would hope they couldn't.
Shhh, youll upset Frank with talk like that. His bestest tenant doesnt work and lives on handouts!
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
Profile "REPLY WITH QUOTE" Go to top
 
miw
Member Avatar


Ex BP Golly
31 Jan 2013, 03:41 AM
Shhh, youll upset Frank with talk like that. His bestest tenant doesnt work and lives on handouts!
Oh nooooo. They might confiscate my horns!

(But your bestest tenant buying a house and moving out would be bad, no?)
Edited by miw, 31 Jan 2013, 04:14 AM.
The truth will set you free. But first, it will piss you off.
--Gloria Steinem
AREPS™
Profile "REPLY WITH QUOTE" Go to top
 
Frank Castle
Member Avatar
Business As Usual

Ex BP Golly
31 Jan 2013, 03:41 AM
His bestest tenant doesnt work and lives on handouts!
Making shit up again are you?
One of my better tenants, not my best, is past working age and on the pension, so hardly what I would consider a handout.
Unless you consider his children topping up the rent a "handout" :re:

I base a good tenant not on age or what job they have, highly paid youngsters have been some of my most problematic
I base a good tenant on how they look after a property and their reliability of payment
Edited by Frank Castle, 31 Jan 2013, 08:13 AM.
Ignore posts by The Whole Truth · View Post · End Ignoring
The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
Profile "REPLY WITH QUOTE" Go to top
 
nipa hut
Default APF Avatar


miw
30 Jan 2013, 10:17 PM
Of course these days there are many stay-at-home bong smokers with stay-at-home partners and multiple dependent children. But any policy that aims to make it possible for these people to save for and buy a house is a huge fail. I would hope they couldn't.
Quite the straw man, miw.

Despite Shadow's "Anyone on minimum wage can afford to buy or rent a home in Australia" thread title, it's quite clear from subsequent posts that Shadow never really meant it to apply to "anyone", aside from the occasional saint. Witness his attempted "gotcha" about my immigrant friend.

So just what "policy that aims to make it possible for these people to save for and buy a house" has been under discussion here? AFAIK, there is no home-ownership subsidy in Australia that is means-tested at all.
Profile "REPLY WITH QUOTE" Go to top
 
Ex BP Golly
Member Avatar


Frank Castle
31 Jan 2013, 08:11 AM
Making shit up again are you?
One of my better tenants, not my best, is past working age and on the pension, so hardly what I would consider a handout.
Unless you consider his children topping up the rent a "handout" :re:

I base a good tenant not on age or what job they have, highly paid youngsters have been some of my most problematic
I base a good tenant on how they look after a property and their reliability of payment
Recieving rent assistance and a top up from the relos then.

All these hand outs you live on, one step removed- welfare recipient by proxy.

Edited by Ex BP Golly, 31 Jan 2013, 11:38 AM.
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
Profile "REPLY WITH QUOTE" Go to top
 
Tiger Lily
Member Avatar


nipa hut
31 Jan 2013, 09:54 AM
Despite Shadow's "Anyone on minimum wage can afford to buy or rent a home in Australia" thread title, it's quite clear from subsequent posts that Shadow never really meant it to apply to "anyone", aside from the occasional saint.
Limited intellect prevents you from differentiating between "can" and "will"

The dictionary is your friend.
Profile "REPLY WITH QUOTE" Go to top
 
Veritas
Default APF Avatar


Tiger Lily
31 Jan 2013, 11:04 AM
nipa hut
31 Jan 2013, 09:54 AM
Despite Shadow's "Anyone on minimum wage can afford to buy or rent a home in Australia" thread title, it's quite clear from subsequent posts that Shadow never really meant it to apply to "anyone", aside from the occasional saint.
Limited intellect prevents you from differentiating between "can" and "will"

The dictionary is your friend.
And there is a big difference between "possible" and "plausible"

the dictionary is indeed your friend.
Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?

The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly.
Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
Profile "REPLY WITH QUOTE" Go to top
 
Tiger Lily
Member Avatar


Veritas
31 Jan 2013, 11:56 AM
And there is a big difference between "possible" and "plausible"

the dictionary is indeed your friend.
Can = Possible. Shadow said "can". You need glasses.
Profile "REPLY WITH QUOTE" Go to top
 
1 user reading this topic (1 Guest and 0 Anonymous)
Go to Next Page
« Previous Topic · Australian Property Forum · Next Topic »
Reply



Australian Property Forum is an economics and finance forum dedicated to discussion of Australian and global real estate markets and macroeconomics, including house prices, housing affordability, and the likelihood of a property crash. Is there an Australian housing bubble? Will house prices crash, boom or stagnate? Is the Australian property market a pyramid scheme or Ponzi scheme? Can house prices really rise forever? These are the questions we address on Australian Property Forum, the premier real estate site for property bears, bulls, investors, and speculators. Members may also discuss matters related to finance, modern monetary theory (MMT), debt deflation, cryptocurrencies like Bitcoin Ethereum and Ripple, property investing, landlords, tenants, debt consolidation, reverse home equity loans, the housing shortage, negative gearing, capital gains tax, land tax and macro prudential regulation.

Forum Rules: The main forum may be used to discuss property, politics, economics and finance, precious metals, crypto currency, debt management, generational divides, climate change, sustainability, alternative energy, environmental topics, human rights or social justice issues, and other topics on a case by case basis. Topics unsuitable for the main forum may be discussed in the lounge. You agree you won't use this forum to post material that is illegal, private, defamatory, pornographic, excessively abusive or profane, threatening, or invasive of another forum member's privacy. Don't post NSFW content. Racist or ethnic slurs and homophobic comments aren't tolerated. Accusing forum members of serious crimes is not permitted. Accusations, attacks, abuse or threats, litigious or otherwise, directed against the forum or forum administrators aren't tolerated and will result in immediate suspension of your account for a number of days depending on the severity of the attack. No spamming or advertising in the main forum. Spamming includes repeating the same message over and over again within a short period of time. Don't post ALL CAPS thread titles. The Advertising and Promotion Subforum may be used to promote your Australian property related business or service. Active members of the forum who contribute regularly to main forum discussions may also include a link to their product or service in their signature block. Members are limited to one actively posting account each. A secondary account may be used solely for the purpose of maintaining a blog as long as that account no longer posts in threads. Any member who believes another member has violated these rules may report the offending post using the report button.

Australian Property Forum complies with ASIC Regulatory Guide 162 regarding Internet Discussion Sites. Australian Property Forum is not a provider of financial advice. Australian Property Forum does not in any way endorse the views and opinions of its members, nor does it vouch for for the accuracy or authenticity of their posts. It is not permitted for any Australian Property Forum member to post in the role of a licensed financial advisor or to post as the representative of a financial advisor. It is not permitted for Australian Property Forum members to ask for or offer specific buy, sell or hold recommendations on particular stocks, as a response to a request of this nature may be considered the provision of financial advice.

Views expressed on this forum are not representative of the forum owners. The forum owners are not liable or responsible for comments posted. Information posted does not constitute financial or legal advice. The forum owners accept no liability for information posted, nor for consequences of actions taken on the basis of that information. By visiting or using this forum, members and guests agree to be bound by the Zetaboards Terms of Use.

This site may contain copyright material (i.e. attributed snippets from online news reports), the use of which has not always been specifically authorized by the copyright owner. Such content is posted to advance understanding of environmental, political, human rights, economic, democratic, scientific, and social justice issues. This constitutes 'fair use' of such copyright material as provided for in section 107 of US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed for research and educational purposes only. If you wish to use this material for purposes that go beyond 'fair use', you must obtain permission from the copyright owner. Such material is credited to the true owner or licensee. We will remove from the forum any such material upon the request of the owners of the copyright of said material, as we claim no credit for such material.

For more information go to Limitations on Exclusive Rights: Fair Use

Privacy Policy: Australian Property Forum uses third party advertising companies to serve ads when you visit our site. These third party advertising companies may collect and use information about your visits to Australian Property Forum as well as other web sites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here: Google Advertising Privacy FAQ

Australian Property Forum is hosted by Zetaboards. Please refer also to the Zetaboards Privacy Policy