Joe Hockey-Housing affordability......

[jamdonut]

[DjPete]

Australia is open for business.
:-)

[Batfink]

Australia IS the lucky country

Lucky for overseas investors
Lucky to have a home
Lucky to be living just above poverty line
Lucky to be on a EBA that's screws over basic rights
Lucky to be paying later for what was free education
Lucky to be paying twice what the gov does to a doctor with our free health system
Lucky to pay MPs 11% more each year while our healthcare and education professionals have to fight for 2%

[busarat]

I just wonder how much of Australia is still in Australian ownership??? Talking to a mate about this and more than half our agricultural land will be owned by offshore company's.as for the original thread comment just how do we(Aussies ) get one of these higher paying jobs to afford all of this???

[Batfink]

We do what Joe did... Get into politics on a majority party

[Batfink]

He reminds me of an old saying...
those that cannot do Teach,
Those that cannot teach lecture
Those that cannot lecture get into politics

[DjPete]

Come on guys.
Are you lifters or leaners??

:-)

[Shordy]

Hockey may have been a bit blunt in his comment, (what's new), but didn't he just state the obvious.
I don't live in Sydney, thank god, and I know house prices are expensive, but people new to the house market need to be reasonable in their expectations.
They should not expect there first house to be huge or ideally situated.
This is why we work all of our lives, to move and improve.
My first home 200km away from Perth cost me 1/10 of a what a house in the city would have done, but it was a first step, and after paying that off, I then could look at something more expensive with a better deposit.
On another point I've lived in rural areas most of my life and to be honest, that would be my first preference every time.
I don't quite understand the need or want to live in the "big smoke".

[kozzo]

[shorty]

[kozzo]

Close friend of mine worked kfc all his life up to store manager..he's 45..last year brought his 3rd house..His friend who was his store manager ended up buying his own kfc store..He saved his money brought a cheap house..quick fix..and sell for profit..at 55 now drives $110K amg

[shorty]

[Batfink]

If you were smart and got your first house 15-20 years ago (as most 45-55 year olds would have) then you will have greatly benefited from the pricing bubble which would have given you a massive amount of capital to use to invest in more properties... yes that 55K house is now worth 600K so after paying of some of the mortgage the bank says they will let you borrow $430K (80% of house value minus whats owing) PLUS up to 80% of house you want to buy... Those with brains and that type of untapped capital have made themselves a fortune...

but what if your 20 now??? you need to come up with a min of $60K (10% deposit) plus legals plus mortgage insurance while trying to live. And even if your a couple on average wages ($116K/yr combined based on ABS 2013 average wage figures less 1/4-1/3 tax) means theres not a lot left to save with.

[kozzo]

60 % melbourne high rise appartments sold to foreign investors..creating construction jobs..you can buy a house 30 mins from city $250k..first house doesnt have to be a mansion...you work your way up..were always quick to blame the government..no matter who..still lot of freedom in Australia. .we must be responsible for our actions..when I was younger worked maccas...what we should be thinking is why they can do it and we can't. .pull the finger out..stop complaining with mates at the pub..and get stuck into it..while your waisting time complaining..someones doing something about it.

[Batfink]

when we were all younger we could work hard and get somewhere....

what people are trying to highlight is in
2000 the average house price was about $178K and the average wage was about $35K
2014 the average house price was about $555K and the average wage was about $58K

now it's easy to see that while house prices went up 210% the wage went up 66%