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Anyone on minimum wage can afford to buy or rent a home in Australia
Topic Started: 29 Jan 2013, 03:53 PM (22,053 Views)
herbie
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glorrible
20 Jul 2013, 10:06 AM
... maybe your idea "sacrificing a few years in order to make it" includes just throwing away anything you care about, but it doesn't for others.
Then you won't compete with the 'others' will you bloke? And shouldn't bitch about that for mine - What with these being your choices 'n all ... For mine.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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mel
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glorrible
20 Jul 2013, 10:06 AM
Owning a house for $200 a week? what type of house? where? is it anywhere near civilization and minimum wage jobs? or any jobs?


HERE click the street view the photo is horrible.

3km from million dollar homes.

1.5 km from train station

Quote:
 
200 x ( 52weeks x 30years ) = $312,000. I don't know of any properties, that aren't just vacant blocks of land, that sell for anything near that in Melbourne (within 100km).


You must be joking, right? A 3bedroom house on its own allotment recently sold for 250k in glenroy. 13kms from melbourne CBD.

Have a look at melton if you don't like the Ballarat example. Melton is a shit hole but you will find something cheap that is under 40kms from CBD.

I know of a 500sqm block of land that will be coming onto the market within 60kms of melbourne surrounded by HUGE new homes for 120K. To put some perspective on the area, one of the neighbors has a 1:1 replica of Rod Lavers tennis court in his backyard. Another neighbor has a house with floor space of over 100 squares (over 900 square meters). They are laying NBN fibre in the area as you read this.

What part of melbourne have you been looking at exactly :?:

APF - a place where serious people don't take themselves too seriously. There's nothing else like it.
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Blondie girl
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To Glorrible..

I haven't been brought up in poverty, but my parents have suffered in what poverty means.

I've started at an early age to own & invest in property .
No, you certainly don't need to be a robot..... To have quality in life ..

It does not matter what you have to your name but no one gets an easy way / ride in life.
Be true to yourself.
See a financial professional ?..you just may be pleasantly surprised.

Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$
It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged
Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do.
Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
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Shadow
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Evil Mouzealot Specufestor

glorrible
20 Jul 2013, 10:06 AM
what type of house? where? is it anywhere near civilization
It wouldn't be a wonderful house, but then we're talking about minimum wage earners here. The worst houses will go to the people with the lowest incomes. If you think minimum wage earners deserve to own better than the worst houses, then who do you think would own the worst houses... lepers?

Quote:
 
what about if I want to progress in career
You probably wouldn't be a minimum wage earner then, at least not for long.
Edited by Shadow, 20 Jul 2013, 06:01 PM.
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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XXX
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glorrible
20 Jul 2013, 10:06 AM

Owning a house for $200 a week? what type of house? where? is it anywhere near civilization and minimum wage jobs? or any jobs?
200 x ( 52weeks x 30years ) = $312,000. I don't know of any properties, that aren't just vacant blocks of land, that sell for anything near that in Melbourne (within 100km). Do I have to move to Sale? Wonthaggi? maybe Penshurst? definitely going to need a car (a reliable one at that) to get to whatever job I have then. Then what about if I want to progress in career? I hope there are educational options out there, methods of career progression of any sort even. Oh? the tafe 50km away? just a couple of days a week? awesome, now let's calculate the fuel costs.

Your idea of living a single life is a bit idealistic. Not everyone can live like a robot. I won't be getting rid of my dogs despite the fact they cost me $50 month to feed and keep in good order, maybe your idea "sacrificing a few years in order to make it" includes just throwing away anything you care about, but it doesn't for others.

I just brought a house in Nowra (with only a 10% deposit). My repayments are $764 per month (or $176 per week). Nowra is 2 hours South of Sydney and/or 3 hours East of Canberra, it has a population of about 35,000 (putting it in the top 45 cities of Australia, by population).

Minimum wage jobs? Yes, certainly. Basically any franchise you can name in any industry from McDonalds to Target to SuperCheap to Officeworks, Nowra has it.

Raising a family here probably is not a good idea due to the crime, however, many people do it and it's probably not TOO unsafe to do it, but I wouldn't chance it if ever I had a kid.

If you want a more desirable area in a town such as this just add 50% to your weekly repayment and that is where prices start (still very cheap). It's do-able, but the city prices are vastly out of proportion to outlying areas/regional hubs.

I understand that Victoria is a little harder than NSW to find reasonably priced satellite towns. I have no idea why this is but NSW certainly seems to have the best deals as far as I'm concerned.

PS: Yes, anyone on welfare let alone minimum wage could buy this house (but for the fact that you can't get a mortgage whilst on welfare - but you could easily quit the day after settlement and live happily ever after).
Marc Hedley
20 Jul 2013, 07:25 PM


Shadow
20 Jul 2013, 06:01 PM
It wouldn't be a wonderful house, but then we're talking about minimum wage earners here. The worst houses will go to the people with the lowest incomes. If you think minimum wage earners deserve to own better than the worst houses, then who do you think would own the worst houses... lepers?


You probably wouldn't be a minimum wage earner then, at least not for long.

Disagree.

The worst houses sometimes go to the people that just don't give a rats ass to pay any more than they have to in order to stay somewhere :-)

If I had a million dollars in my bank, I would simply buy more of these high yielding properties, rent them out and pocket the excess above the mortgage repayments, and stay right here.
Edited by XXX, 20 Jul 2013, 07:41 PM.
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Trojan
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glorrible
20 Jul 2013, 10:06 AM
Yes if you exist the life of a drone work bot, you will be able to afford everything under the sun. If you get up in the morning and carefully measure your $3 breakfast, hell even have a 80c coffee, get dressed and walk to work (walk, not drive, or public transport), work your 8 (more like 9, anyone trying to make it probably works 10 to hope for recognition/promotion), then you come home, eat your $5 dinner, throw clothes in the was (a few dollars). Don't watch television, don't have a dog to feed or walk or wash, or any little extras like that. Then you go to sleep and repeat the process, and on weekends you spend most of it going for a nice leisurely walk, maybe go to a friend's or family member's house and catch up, then go home and sleep. over and over for 3-4 years (5% of your life, but at this point, you're at least 18-20, so you might as well minus that from the average, and it's more like 10-20% of your life, working life anyway).

After all that you might have a deposit to put on a house. Great! And if all has gone to plan, you may have gotten a promotion to a slightly-higher-than-minimum-wage-position. You're set right? awesome, good luck with that.

But the reality is, we are not drones. We need entertainment, we need slightly more than bare minumum protein and carbs to make it through the day's chores, we need more than a small room to sit sleep, get dressed (we we can't do most of any of this in public, legally). This is all a product of a system placed upon us, not some dictators one, but one we can't simply ignore, and we make decisions around it all the time.
70% of the population in the world would love to swap places with you and be doing exactly that in Melbourne.
I've lived on minimum wage before and no it wasn't luxurious. But what did you expect it to be?
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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XXX
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Trojan
20 Jul 2013, 07:49 PM
70% of the population in the world would love to swap places with you and be doing exactly that in Melbourne.
I've lived on minimum wage before and no it wasn't luxurious. But what did you expect it to be?

Better make that 95 + % (anyone on $30K + here is in the top 3.48% of the world in terms of income)

http://www.globalrichlist.com/
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stinkbug
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glorrible
20 Jul 2013, 10:06 AM
This thread is filled with such black and white trollop, I couldn't get through more than half the pages.

Yes if you exist the life of a drone work bot, you will be able to afford everything under the sun. If you get up in the morning and carefully measure your $3 breakfast, hell even have a 80c coffee, get dressed and walk to work (walk, not drive, or public transport), work your 8 (more like 9, anyone trying to make it probably works 10 to hope for recognition/promotion), then you come home, eat your $5 dinner, throw clothes in the was (a few dollars). Don't watch television, don't have a dog to feed or walk or wash, or any little extras like that. Then you go to sleep and repeat the process, and on weekends you spend most of it going for a nice leisurely walk, maybe go to a friend's or family member's house and catch up, then go home and sleep. over and over for 3-4 years (5% of your life, but at this point, you're at least 18-20, so you might as well minus that from the average, and it's more like 10-20% of your life, working life anyway).

After all that you might have a deposit to put on a house. Great! And if all has gone to plan, you may have gotten a promotion to a slightly-higher-than-minimum-wage-position. You're set right? awesome, good luck with that.

But the reality is, we are not drones. We need entertainment, we need slightly more than bare minumum protein and carbs to make it through the day's chores, we need more than a small room to sit sleep, get dressed (we we can't do most of any of this in public, legally). This is all a product of a system placed upon us, not some dictators one, but one we can't simply ignore, and we make decisions around it all the time.

We can't exist outside the system that has been created around us, we can't just disappear out bush and live off the wilds (some legal issues, + we are no longer equipped with the skills to do so), and thus the system DOES actually owe it's people the ability to "make it" with a decent standard of living. Living that isn't the life of a robot.

Also, no one lives the same life. Accidents, unintended circumstances, etc.. all happen, to many people, not just a small percentage. Whether it's a pregnancy that wasn't intended which lands a single mother without the support needed to complete a degree or work a full time job (at minimum wage, try child care? ha). A young father who now has to send child support payments? there's another hit. How about the situation where traveling to work requires transportation? public transport, 5 days a week, I haven't used it myself in awhile, but even 5 years ago it was pretty steep on a minimum wage, what is it now? $30 a week? Let's not even touch how not having a vehicle can seriously hinder job options in the first place.

What about injury? or illness? many people are medicated in one form or another, whether it's a form of depression, pain killers for a car accident related injury, a case of intestinal problems (easily caused by diet as a result of low income, etc..).

Owning a house for $200 a week? what type of house? where? is it anywhere near civilization and minimum wage jobs? or any jobs?
200 x ( 52weeks x 30years ) = $312,000. I don't know of any properties, that aren't just vacant blocks of land, that sell for anything near that in Melbourne (within 100km). Do I have to move to Sale? Wonthaggi? maybe Penshurst? definitely going to need a car (a reliable one at that) to get to whatever job I have then. Then what about if I want to progress in career? I hope there are educational options out there, methods of career progression of any sort even. Oh? the tafe 50km away? just a couple of days a week? awesome, now let's calculate the fuel costs.

Your idea of living a single life is a bit idealistic. Not everyone can live like a robot. I won't be getting rid of my dogs despite the fact they cost me $50 month to feed and keep in good order, maybe your idea "sacrificing a few years in order to make it" includes just throwing away anything you care about, but it doesn't for others.
There's a few grains of truth in this, but most of it is just excuse making.

Live below your means, save and invest the difference, and after a while you'll have more money than you know what to do with. Worked for me.
---------------------------------------------------------------

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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Trojan
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Marc Hedley
20 Jul 2013, 07:25 PM
Disagree.

The worst houses sometimes go to the people that just don't give a rats ass to pay any more than they have to in order to stay somewhere :-)
Look at all the people who would rather spend all their money on drugs, alcohol, gambling, etc
They could afford a roof over their heads if they chose not to spend it on their indulgences.
But many choose to sleep on the streets instead.
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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XXX
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Trojan
20 Jul 2013, 07:52 PM
Look at all the people who would rather spend all their money on drugs, alcohol, gambling, etc
They could afford a roof over their heads if they chose not to spend it on their indulgences.
But many choose to sleep on the streets instead.

Capital allocation is always down to the individual.

I choose to allocate no more than I feel is above and beyond what is reasonable for me. I am already saving a good 80% or so off the Sydney Median. I don't need to go any further with it and live 15 hours from Sydney to save another 10%, I've already saved 80% in my first 2 hours out of Sydney and I find it does not pay enough to go any further. With that said, I would not move any closer to Sydney because I don't want to spend any more than I am on my own personal cost of accommodation, I would rather use whatever borrowing power I have left to buy IP's and have someone else do the repayments (and therefore build my net worth) for me. It's basically a "work hard to afford yourself a nice PPOR vs. living in a lesser house and letting someone else work to pay off the balance of whatever the bank would let you borrow" analysis.

I choose (b). But that's just me :)
Edited by XXX, 20 Jul 2013, 08:05 PM.
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