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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 (22,049 Views)
glorrible
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mel
21 Jul 2013, 10:41 PM
Come on, to be fair someone could create an example of not being able to afford a house on the minimum wage regardless of how cheap housing costs might be..

Also if someone falls ill in Australia they will generally be better taken care of than most other countries with cheaper housing. In your first example you mentioned property within 100km of melbourne CBD, I suggested ballarat (100km from melbourne). Your response was basically 'who would want to live there'. I also suggested other areas less than 50kms from the cbd (remember you mentioned 100kms) and now we are arm waving, talking about part time work, drug addicts and the like. Im sorry but I call bullshit.
I concurred with ballarat, It's jut not going to be a viable choice for people to travel 100km if they work in the city, or similar. Especially on a minimum wage. but yes, it's a choice. And I replied to the closer options with my experience of not seeing anything as cheap as you stated, closer to the city, ie. 300k loan is roughly 150k in actual house payment, there is no such thing as a house close to the city for 150k that isn't a shack without running water or problems which would cost another 10-20k + labour costs, to fix (something as min wage earner can't afford on top of loan repayments).

I fail to see your point on the health care thing. The facts still remain that it costs money to look after ill people, even with government assistance. Call it bullshit all you want, it's a real example and your disbelief/dismissal simply shows your ignorance.
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mel
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Fair enough. The health care system in this country is extremely good by global standards though. It just is.

Which side of melbourne are you looking at?
APF - a place where serious people don't take themselves too seriously. There's nothing else like it.
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glorrible
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mel
21 Jul 2013, 11:22 PM
Fair enough. The health care system in this country is extremely good by global standards though. It just is.

Which side of melbourne are you looking at?
Oh definitely, in many other countries you would be screwed. And don't get me wrong, I have no sympathy for druggies and people who screw themselves over. But it's a stretch to think others would abandon family or even pets for the quickest route to financial security. The only reason the world doesn't run like a well oiled german machine is due to the various sentimental priorities we all hold. And thus why I say this type of "a minmium wage earner can own a house!" comment is no different than telling a child "You can be anything you want when you grow up!", yeah sure, it's a nice thought, then the realities, almost every obstacle the world can throw at you, shifting priorities, not to mention competition. I just find it wholly too much of a black and white statement and thus irresponsible.

I'm not looking. Currently selling a property in Seaford. I saw this thread as a "suggested post" feature on my facebook wall, for some reason (probably facebook checking my browser history), clicked and as i said in my first post, decided to comment.

I mean, just to make it clear, the title of this thread is "anyone on minimum wage can afford to buy or rent a home in Australia", rent, sure, no problem. Buy? that's a whole different ballpark, and just the fact it says "Anyone on minimum wage can-", not "it's possible to own a home/buy property on minimum wage", it just transmits a almost insulting message to those who try hard and can't. Or anyone who knows what it is to be in a well off position where buying a home isn't even an option.
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mel
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No dramas, i can appreciate that. Good luck with your sale, Seaford and surrounds are doing far better than the west at the moment so you should have nothing to worry about there :oo:
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Admin
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Quote:
 
Auburn studio sells for $150,000

By Diane Leow
Tuesday, 17 September 2013

A studio unit in Auburn was the most affordable auction sale in New South Wales over the past weekend, according to Australian Property Monitors.

Located at 333/95 Station Road, the unit sold for $150,000 through Richardson & Wrench Auburn.

Listing agent Nell Wu told Property Observer there were three registered bidders present.

The successful bidder was an owner-occupier.

The reserve price was set for “$140,000 to $150,000” according to Wu.

Prior to this sale, the unit was last sold in 2001 for $65,500, in 1997 for $67,000, and in 1993 for $64,500, according to RP Data records.

According to the latest RP Data report, the median price for units in Auburn is $342,680, up 10.5% on last year. The average discount required to sell a unit is 5.6%, while private treaty sales average 81 days on market.

The median asking rent for units is $390, while gross rental yield currently stands at 5.9%.

Read more: http://www.propertyobserver.com.au/weekend-auction-wrap/auburn-studio-sells-for-$150000
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Veritas
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Pig Iron
21 Jul 2013, 03:11 PM
Veritas
20 Jul 2013, 08:09 PM
Poor Americans are better off than poor Sudanese, does that neutralise objections about the US being the most unequal developed country in the world?
well, yeah it does....
Sometimes the standard of debate here really scrapes the bottom of the barrel.

Timmy, right now, Congressional republicans in the US are trying to enact major reform to the food stamps programme. Currently about 1 in 7 Americans get food stamps.

Do you think any opposition to the Republican's proposal can be neutralised by pointing out that even without the food stamps the millions of poor Americans that currently receive them will still be better off some villagers in the Sudan?

Why don't your right wing pals in the US just say that?

The reason is Timmy, is that its a fucking stupid thing to say.

Now promise me, you wont be so stupid again.
Edited by Veritas, 20 Sep 2013, 06:00 PM.
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
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Room without a view goes for $128,000

September 30, 2013 - 10:02AM
Stephen Nicholls

The cheapest property to sell on Saturday was for just $128,000 - but it came with conditions.

There wasn’t much to Unit 26/4 Wilkins Street, Yagoona - just a 37 sq m space consisting of a white tiled room with a sink and a separate bathroom - built in the 1970s.

And you have to be over 55 to live there. But still, Elders Inner West agent Sam Bonaccorso said it was a hot auction. ‘‘Bidding started at $90,000 and five bidders took it to $128,000,’’ he said.

‘‘It was bought by an investor who will be able to rent it out for about $220 a week.’’

Read more: http://smh.domain.com.au/real-estate-news/room-without-a-view-goes-for-128000-20130930-2un69.html
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