Oh dear... socialists think that can manipulate the market

[lisa jones]

Friends of ours on the big coin here owe $750 000 on two properties. Despite having more than double the average income, I seriously doubt they would afford a cool million.

750K over 2 properties? That's nothing.

[lisa jones]

RP data...http://www.myrp.com.au/sydney_house_prices.do

I am referring to average/above average areas. Anything less and you're wasting your time.

Wasting your time with what? I'm not referring to people buying more houses than they can live in on the prospect of capital gains. I'm talking about the poor bastard who just wants ownership of the roof over their head so that the place where they raise their family and live out their lives can be called their own.

You still haven't mentioned how much the friends of someone who attended the same university as a prime minister's daughter are earning. I should think it must be quite solid to be able to reasonably afford something that would see myself and a majority of other households parting with 80% -100% of their income.

Again, I don't care if people on big incomes have big mortgages. I only care that housing is reasonably affordable to the average working couple. And right now, it isn't. Perhaps there are some investors out there who feel that their right to cash in big trumps the right of working people to simply afford ownership of the roof overhead and that "it's just life" when ever larger numbers of people struggle to achieve this very basic aim. So if the boot ends up on the other foot someday and investors see their capital gains evaporate through falling prices, why isn't that just life as well?

Left winger .. see that graph you're relying on? It's actually NOT giving you a real clear picture of what is going on in Sydney. The greater Sydney area isn't what you should be looking at (unless you wish to risk losing your hard earned after tax dollars in some potential submarine mortgage situation).

Oh and I was never talking about people who buy more houses than they can live in on the prospect of capital gains either.

[Leftwinger]

And one other thing .. as far as I am concerned .. ALL home buyers are developers/investors to some extent.

There is no way anyone here is gonna convince me that people put themselves under a 30 yr mortgage noose expecting to break even at the end of it all.

We buy property so that we can improve/renovate/develop it in some way over time. And we all expect to make some money given all the hard earned after tax dollars we've invested in our home over a 30 yr period .. so that when we get old/die .. we have $$$ to fall back on to take care of us if we need daily care/pass on to our kids.

I'm uncertain of what you mean by breaking even. I expect to break even before the age of 50 and am on track to do so. I didn't buy an "investment" in any monetary sense. I bought a house that became a home. It fulfills the most basic of human needs and it's monetary value is of little concern to me. I don't feel any richer just because it is currently valued at so much more than I paid for it (despite the fact that I could use this as leverage to do the popular thing and further indebt myself to the eyeballs). Likewise, I will not feel any poorer if it's market value falls.


And the main thing we're passing on to our kids is the prospect of never being able to own their own home.

[Leftwinger]

Friends of ours on the big coin here owe $750 000 on two properties. Despite having more than double the average income, I seriously doubt they would afford a cool million.

750K over 2 properties? That's nothing.

Is that some kind of boast regarding the income of your circle (which you still haven't mentioned)? The people owning these two properties are on almost as much as it's possible for blue/white collar working households to earn. It merely highlights the unaffordability of housing in Australia in general.

[lisa jones]

And one other thing .. as far as I am concerned .. ALL home buyers are developers/investors to some extent.

There is no way anyone here is gonna convince me that people put themselves under a 30 yr mortgage noose expecting to break even at the end of it all.

We buy property so that we can improve/renovate/develop it in some way over time. And we all expect to make some money given all the hard earned after tax dollars we've invested in our home over a 30 yr period .. so that when we get old/die .. we have $$$ to fall back on to take care of us if we need daily care/pass on to our kids.

I'm uncertain of what you mean by breaking even. I expect to break even before the age of 50 and am on track to do so. I didn't buy an "investment" in any monetary sense. I bought a house that became a home. It fulfills the most basic of human needs and it's monetary value is of little concern to me. I don't feel any richer just because it is currently valued at so much more than I paid for it (despite the fact that I could use this as leverage to do the popular thing and further indebt myself to the eyeballs). Likewise, I will not feel any poorer if it's market value falls.

And the main thing we're passing on to our kids is the prospect of never being able to own their own home.

Ok .. see ^^^?? That post alone shows me you're thinking like a left winger lol

The way it works is like this (and I am thinking as a right winger here ok) .. we put money forward ie hard after tax dollars in the expectation of a profit/return for it.

Otherwise .. you may as well hide it under the mattress.

[lisa jones]

Friends of ours on the big coin here owe $750 000 on two properties. Despite having more than double the average income, I seriously doubt they would afford a cool million.

750K over 2 properties? That's nothing.

Is that some kind of boast regarding the income of your circle (which you still haven't mentioned)? The people owning these two properties are on almost as much as it's possible for blue/white collar working households to earn. It merely highlights the unaffordability of housing in Australia in general.

No boast .. I was merely pointing out that it isn't much (from a Sydney domestic property perspective) NB I am NOT referring to the greater Sydney area.

As regards my family/friends .... they are essentially 1st gen Aussies (like myself) and have parents who came to Oz back in 1960 onwards as migrants/refugees with nothing but a suitcase of clothes. These 1st gen Aussies are now all university educated and are mainly employed within the building/teaching/legal and medical professions.

[Monkey Magic]

Otherwise .. you may as well hide it under the mattress.

O M G... like EPIC O M G!

So if da man don't make it in da housing market... just hide da bread in da bed. Oh yeah... like great idea NOT!

Da housing market ain't a place to invest either.

<shakes head in dismay. views my own silver holdings with glee>

[lisa jones]

Well Sappho .. it all depends on what you know/have experience in/feel comfortable with.

For me .. it's property. In any event .. property is something my family have been into for some time .. so that has had a major influence on me also.

Oh and one last thing .. do you think you could bring your Sappho id out now?

[Monkey Magic]

Oh and one last thing .. do you think you could bring your Sappho id out now?

Sappho signed out babe... like she ain't been seen since. She aint touch her account since. I reckon she's been like tortured to her um... untimely death by the Nicey Nice Secret Service... suffocated with hugs n' kisses lmao lol.

But da Monkey is in da house and gettin all comfy like. I'm down wif da nicey nice... down pat an all.

Oh hai... da houses day go bang n' crash... ain't no one got da cash no mo... just like da left dude says.

teddy bear hugs
xxx

[lisa jones]

What a load of rubbish! Just log in with your Sappho a/c and pretend you're normal FFS!