Wish people could stop just sharing articles without any personal take
LifeandSAisAwesome on
“According to the PropTrack report, a household earning $50,000 a year could afford just 3% of homes sold”
No shit, of course a 50k income household is not going to be able to compete with the avg full time income of100k, or 2x avg full time household aka 200k.
The reality is they should be looking at very very different markets, a 50k household income would not be looking for a detached house the same distance and amenities as the 200k income household.
nalkeynoodles on
Just for that I’m gonna go buy a bag
RedOx103 on
LNP: “How ’bout we throw superannuation on this national bonfire too?”
cricketmad14 on
LETS not even talk about 50K, lets use 80K (around the median income), it doesn’t get you much.
If you are renting, you’re gonna be paying 35K, to 40K in rent. As a single person, that is half your pay if you’re earning 80K.
Taliesin_AU on
Yeah but my daddy was doing dumb stuff before me and his daddy was doing dumb stuff before him!
I’ve been doing dumb stuff my whole life and have no plans to stop now!
Pretty_Gorgeous on
Only paying $1200/month in rent in Melbourne?? Where the hell did he find that bargain?
Mikes005 on
I love how experts have gone from carefully explaining how existing and proposed legislation makes the situation worse to just flat out calling the government dumb.
Next step is open handed slapping the housing minister before wegdie-ing them in the press gallery.
Lost_Tumbleweed_5669 on
All the gov needs to do is start building a lot of quality affordable houses/townhouses on newly zoned land and not charge 500k-1mill for land that is an hour away from the city. Buyers should be restricted to first home owner with a family. It’s crazy we have families renting when they want to own in aus.
The government used to build 20% of housing now it’s 0%.
Carmageddon-2049 on
Fishy numbers. Only 20% of people are locked out of the market? I’d wager it is closer to 50% as the median wage is no longer enough to purchase anywhere without going into mortgage stress.
I’d wish the focus was on making renters right much stronger and scrapping the 1 year leases. make longer term leases the norm and make renting an attractive proposition for people. That ensures at least that people won’t be scrimping and saving for a home if it doesn’t suit their economic conditions and lifestyle.
NeopolitanBonerfart on
Maybe I’m just some moron, but we have a shortage of qualified trades, a shortage of houses, and a shortage of jobs for people. So.. you know why don’t we get the government to pay to train people, to build houses?
Instead we import people from other countries, not only just to build houses but to do heaps of things that people in Australia could be trained up to do. Sure, in the short term we would need some immigration, but we’ve imported loads of people (not the immigrants fault as they want a better life.. who’d blame them) who all need housing that isn’t there.
Why couldn’t we do something similar to the WPA that was part of the new deal in the US after the Great Depression?
Like I said, maybe I’m a moron who knows nothing about anything, and so that plan wouldn’t work.. but it’s not like the current state of things is working.
Housing is now basically out of reach for anyone not on a huge income.. and.. even if you buy a house that needs heaps of work (to save some money) you have to pay a tradie (who will charge you like a wounded bull because there’s no trades) to do it for you, and you can’t even attempt to do it yourself and then get it inspected and certified because we have incredibly draconian laws.
So I ask anybody, what’s the fucking point anymore?
SaltpeterSal on
Reminder that your house’s value going up only benefits you if you’re a landlord. If you sell, you’ll still need another house, and we’ve seen what prices do to rent.
plutoforprez on
My partner and I (both 27) are trying very hard to purchase our first home in regional NSW. Neither of us would be able to do it alone — he has almost $100k for a deposit but his borrowing capacity alone was a joke. I have no savings (tried to get into the property market 5 years ago, couldn’t based on income, blew through my savings by building a granny flat on my mum’s property) and my income alone would get me a loan of about $200k.
With our combined salary we can borrow up to $700k but we’ve applied for a max $510k (+ deposit) because we looked at the numbers, crunched the budget, and there’s just no way we could afford a mortgage of more than that on our combined income of nearly $150k. So we’re currently looking at small houses and large units *in regional Australia* because that’s all we can afford. An hour away from a major city, 2.5 hours from Sydney.
Thank Christ we don’t want kids because even if we did, we wouldn’t have room or money for them.
13 Comments
Wish people could stop just sharing articles without any personal take
“According to the PropTrack report, a household earning $50,000 a year could afford just 3% of homes sold”
No shit, of course a 50k income household is not going to be able to compete with the avg full time income of100k, or 2x avg full time household aka 200k.
The reality is they should be looking at very very different markets, a 50k household income would not be looking for a detached house the same distance and amenities as the 200k income household.
Just for that I’m gonna go buy a bag
LNP: “How ’bout we throw superannuation on this national bonfire too?”
LETS not even talk about 50K, lets use 80K (around the median income), it doesn’t get you much.
If you are renting, you’re gonna be paying 35K, to 40K in rent. As a single person, that is half your pay if you’re earning 80K.
Yeah but my daddy was doing dumb stuff before me and his daddy was doing dumb stuff before him!
I’ve been doing dumb stuff my whole life and have no plans to stop now!
Only paying $1200/month in rent in Melbourne?? Where the hell did he find that bargain?
I love how experts have gone from carefully explaining how existing and proposed legislation makes the situation worse to just flat out calling the government dumb.
Next step is open handed slapping the housing minister before wegdie-ing them in the press gallery.
All the gov needs to do is start building a lot of quality affordable houses/townhouses on newly zoned land and not charge 500k-1mill for land that is an hour away from the city. Buyers should be restricted to first home owner with a family. It’s crazy we have families renting when they want to own in aus.
The government used to build 20% of housing now it’s 0%.
Fishy numbers. Only 20% of people are locked out of the market? I’d wager it is closer to 50% as the median wage is no longer enough to purchase anywhere without going into mortgage stress.
I’d wish the focus was on making renters right much stronger and scrapping the 1 year leases. make longer term leases the norm and make renting an attractive proposition for people. That ensures at least that people won’t be scrimping and saving for a home if it doesn’t suit their economic conditions and lifestyle.
Maybe I’m just some moron, but we have a shortage of qualified trades, a shortage of houses, and a shortage of jobs for people. So.. you know why don’t we get the government to pay to train people, to build houses?
Instead we import people from other countries, not only just to build houses but to do heaps of things that people in Australia could be trained up to do. Sure, in the short term we would need some immigration, but we’ve imported loads of people (not the immigrants fault as they want a better life.. who’d blame them) who all need housing that isn’t there.
Why couldn’t we do something similar to the WPA that was part of the new deal in the US after the Great Depression?
Like I said, maybe I’m a moron who knows nothing about anything, and so that plan wouldn’t work.. but it’s not like the current state of things is working.
Housing is now basically out of reach for anyone not on a huge income.. and.. even if you buy a house that needs heaps of work (to save some money) you have to pay a tradie (who will charge you like a wounded bull because there’s no trades) to do it for you, and you can’t even attempt to do it yourself and then get it inspected and certified because we have incredibly draconian laws.
So I ask anybody, what’s the fucking point anymore?
Reminder that your house’s value going up only benefits you if you’re a landlord. If you sell, you’ll still need another house, and we’ve seen what prices do to rent.
My partner and I (both 27) are trying very hard to purchase our first home in regional NSW. Neither of us would be able to do it alone — he has almost $100k for a deposit but his borrowing capacity alone was a joke. I have no savings (tried to get into the property market 5 years ago, couldn’t based on income, blew through my savings by building a granny flat on my mum’s property) and my income alone would get me a loan of about $200k.
With our combined salary we can borrow up to $700k but we’ve applied for a max $510k (+ deposit) because we looked at the numbers, crunched the budget, and there’s just no way we could afford a mortgage of more than that on our combined income of nearly $150k. So we’re currently looking at small houses and large units *in regional Australia* because that’s all we can afford. An hour away from a major city, 2.5 hours from Sydney.
Thank Christ we don’t want kids because even if we did, we wouldn’t have room or money for them.