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Also as an Australian renter its really not sustainable at all. There exists now really a lof of anger between the baby boomers and millennials. Also the renting conditions in aus are pretty poo poo, max 1 year leases and no pets and so on. Basically every millennial is waiting/hoping for a market crash as prices at the moment excluded huge swathes of the millennial generation of ever owning a property.
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Mar 22, 2018 09:24
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A huge housing bubble is what you Australians get for having 27 years without a recession.
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Mar 22, 2018 12:09
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Doesn't help the government's basically been bending over backwards for boomer landlords and treating them as put-upon 'battlers' with weird tax laws encouraging sitting on property forever, but even they can't put off a housing crash forever when nobody can afford to buy all the houses at the prices they want.
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Mar 22, 2018 13:01
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Switchback posted:How much do I wish Australia was on that graph! I want to move there but as someone in here said, the entire economy seems like a bubble. I was asking someone what their rent was, and they said “oh I pay $800 for a room. A flat like that (points to an apartment one block from Bondi Beach) is probably $1200.” I’m thinking, wow that’s so reasonable!! I could afford that! I live 50 minutes outside Brisbane in a 4 bedroom house, huge yard and I pay $360/week. FYI you don;t have to live in the CBD to enjoy life. Overall really dumb post
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Mar 22, 2018 13:15
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My in-laws live in a suburb pretty far north of Sydney, they and their friends don’t need 4+ bedroom houses anymore, but there is no supply of modest retirement homes to go to. So they stay. Seems like it’s a pretty systematic problem for young people trying to make a life working in Sydney. I’m trying to move to Brisbane so glad to hear it’s good for you.
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Mar 22, 2018 13:22
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Suspicious Lump posted:If you talk to someone from Sydney or Melb who live in the CBD of a city... sure. But my friend has a great 2 bedroom apartment in Melbourne and he pays 400/week. We pay fortnightly (every 2 weeks), but quote prices weekly. food $200 data $150 weekly rent $1000 utility $150 someone who is good at the economy please help me budget this. my family is dying don't live right in the middle of a popular city no edit: not applicable to some places like the Bay Area where it's expensive everywhere
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Mar 22, 2018 14:40
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Problem is there's gently caress all employment outside said popular cities. Have the problem explained in an extremely Australian fashion: https://www.youtube.com/watch?v=CL7M5RIXjY8 (basically, boomers bitching about kids on welfare while enjoying much better welfare)
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Mar 22, 2018 14:50
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Krispy Wafer posted:A huge housing bubble is what you Australians get for having 27 years without a recession. I can't tell if this is a joke or not but yeah that is probably true. Way overdue for a correction. I think if China's growth hadn't provided a market for their natural resources the 2008 recession would have done it. With things slowing in China, Australia is one commodity market crash away from Mad Max: Beyond the Thunderdome.
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Mar 22, 2018 15:39
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therobit posted:I can't tell if this is a joke or not but yeah that is probably true. Way overdue for a correction. I think if China's growth hadn't provided a market for their natural resources the 2008 recession would have done it. With things slowing in China, Australia is one commodity market crash away from Mad Max: Beyond the Thunderdome. When it finally happens someone had better say, "That's not a recession" pulls out a large chart will a huge red arrow stabbing down, "that's a recession."
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Mar 22, 2018 15:45
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Krispy Wafer posted:When it finally happens someone had better say, "That's not a recession" pulls out a large chart will a huge red arrow stabbing down, "that's a recession." 
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Mar 22, 2018 15:52
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Mar 22, 2018 16:09
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therobit posted:I can't tell if this is a joke or not but yeah that is probably true. Way overdue for a correction. I think if China's growth hadn't provided a market for their natural resources the 2008 recession would have done it. With things slowing in China, Australia is one commodity market crash away from Mad Max: Beyond the Thunderdome. Well, not post-Trump America. Or post-brexit Britain. Or anyone directly affected by post-Trump America. Or... OK China and Russia are probably fine.
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Mar 22, 2018 18:52
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China was here before the rest of us and will be here after the rest of us are gone.
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Mar 22, 2018 19:00
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Splicer posted:As far as I'm concerned this is now the backstory to Mad Max and the rest of the world is just pointing and laughing.  "There has been too much violence. Too much pain. But I have an honorable compromise. Just walk away. Give me your 2 bedroom condo, the parking space, the swimming pool, multipurpose room and the whole compound, and I'll spare your lives. Just walk away and we'll give you a safe passageway in Melbourne. Just walk away and there will be an end to the horror"
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Mar 22, 2018 19:06
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Suspicious Lump posted:If you talk to someone from Sydney or Melb who live in the CBD of a city... sure. But my friend has a great 2 bedroom apartment in Melbourne and he pays 400/week. We pay fortnightly (every 2 weeks), but quote prices weekly. This. Midjack posted:China was here before the rest of us and will be here after the rest of us are gone. 5000 years of culture, do you know?
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Mar 22, 2018 21:02
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If you can't afford a decent house, what's wrong with living with your boomer parents until they die and leave you the house? Sure you may not be an attractive partner, but if you can't afford a house, you can't afford a spouse.
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Mar 22, 2018 21:49
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Crazy Mike posted:If you can't afford a decent house, what's wrong with living with your boomer parents until they die and leave you the house? Sure you may not be an attractive partner, but if you can't afford a house, you can't afford a spouse. They have three mortgages out on the house so when they die the bank takes it and if you’re lucky they have enough life insurance to just cover their funeral.
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Mar 22, 2018 21:58
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SquirrelFace posted:They have three mortgages out on the house so when they die the bank takes it and if you’re lucky they have enough life insurance to just cover their funeral. GWM: House has a crawl space to stash the body in.
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Mar 22, 2018 22:02
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Crazy Mike posted:If you can't afford a decent house, what's wrong with living with your boomer parents until they die and leave you the house? Sure you may not be an attractive partner, but if you can't afford a house, you can't afford a spouse. True boomers have that house home equitied at 120% of market price.
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Mar 22, 2018 22:35
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Midjack posted:China was here before the rest of us and will be here after the rest of us are gone. chinese polity was created late 1949 if you get to count poo poo that happened before the chinese polity, americans get to count dead europeans
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Mar 22, 2018 22:41
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therobit posted:I can't tell if this is a joke or not but yeah that is probably true. Way overdue for a correction. I think if China's growth hadn't provided a market for their natural resources the 2008 recession would have done it. With things slowing in China, Australia is one commodity market crash away from Mad Max: Beyond the Thunderdome. Our biggest problem is that all we do is dig commodities out of the ground and then immediately ship them overseas. No secondary industry, so when commodity prices fall, everyone's hosed. But we're too lazy to bother developing value-added services.
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Mar 22, 2018 22:45
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Plus, if you're American your parents probably died with an insane amount of medical debt, wiping out any inheritance.
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Mar 22, 2018 23:16
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Konstantin posted:Plus, if you're American your parents probably died with an insane amount of medical debt, wiping out any inheritance. As long as they make it to Medicare eligibility you're A-OK. Also don't get put into a home.
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Mar 22, 2018 23:20
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Weatherman posted:But we're too lazy to bother developing value-added services. What would being less lazy about this look like?
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Mar 22, 2018 23:41
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Subjunctive posted:What would being less lazy about this look like? The pyramid of VB cans in every Australian lounge would disappear. http://www.dailymail.co.uk/news/article-3338916/Social-media-uses-present-alternative-Australian-Christmas-trees.html
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Mar 23, 2018 00:04
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bob dobbs is dead posted:chinese polity was created late 1949 
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Mar 23, 2018 00:22
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Konstantin posted:Plus, if you're American your parents probably died with an insane amount of medical debt, wiping out any inheritance. Everyone keeps saying when boomers die it’ll be the biggest transfer of wealth, but those fuckers will cling to every second of life they have in nursing homes for years and years and the government will suck all that inheritance up gladly to pay the bills.
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Mar 23, 2018 01:20
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I don't know. Boomers were born on third, stayed on third most of their life, and will argue their way down to a single before they're finally called out on strikes.
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Mar 23, 2018 01:51
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Krispy Wafer posted:As long as they make it to Medicare eligibility you're A-OK. Also, make sure they get supplemental Medigap insurance, because "original" Medicare has no out-of-pocket maximum and end-of-life poo poo can bankrupt you from co-insurance alone.
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Mar 23, 2018 02:05
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Subjunctive posted:What would being less lazy about this look like? Government policy that encourages the building of such industries would be a good start. But they're coasting on the commodity exports and our national attitude of "she'll be right mate" precludes any kind of foresight coupled with action. Things are good now so they'll always be good! *commodity prices fall, recession happens* SAVE US CENTRELINK JESUS!
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Mar 23, 2018 02:15
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Weatherman posted:Government policy that encourages the building of such industries would be a good start. But they're coasting on the commodity exports and our national attitude of "she'll be right mate" precludes any kind of foresight coupled with action. Things are good now so they'll always be good! *commodity prices fall, recession happens* SAVE US CENTRELINK JESUS! "Our local economy relies on one thing! Oh no, suddenly it's tanking and our town is dying! Clearly we need to yell at the government to revive that thing instead of diversifying our industries!" It hasn't worked out very well for them.
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Mar 23, 2018 02:31
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Haifisch posted:Sounds like what's happened to a lot of American towns in the rust belt/resource gathering rural areas. So you're saying Trump will be the next Prime Minister of Australia
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Mar 23, 2018 02:33
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balancedbias posted:So you're saying Trump will be the next Prime Minister of Australia Edit: It was.
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Mar 23, 2018 02:48
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Hi frends. Cross post from the Zaurg thread
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Mar 23, 2018 02:55
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Inescapable Duck posted:Problem is there's gently caress all employment outside said popular cities. Buying a house in a reasonable area is impossible in Melbourne, Sydney and even Brisbane/Perth, totally agree (the latter it depends on the area). Again I rent a house 50 minutes outside Brisbane and our neighbour is selling his for~$350k. That's reasonable IMO. Renting close to where you work is still reasonable and not insane. No one mentioned working and living inside major cities. I disagree about finding employment outside popular cities. "Unpopular" cities are constantly trying to attract state immigrants, an example is Darwin, of course it depends on your job and profession. I agree about negative gearing but Australia's (and maybe the rest of the developed world) obsession with owning property that is both an investment property AND meets your families needs AND is close to work AND in the perfect city is loving dumb and people need to get over it. Rent/work where you want to live, buy where you think will be a good investment and put money into the shares market. I fundamentally disagree with housing as an investment vehicle. It is a human right and we need to stop commoditising it and encouraging it.
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Mar 23, 2018 03:01
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Suspicious Lump posted:Rent/work where you want to live, buy where you think will be a good investment and put money into the shares market. 
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Mar 23, 2018 03:27
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Just because I disagree with the system and the current environment doesn't mean I won't provide advice that I think is appropriate. I'm skipping the buying as investment for my own reasons, which could be wrong. People can disagree and do their own thing but aiming to live, work and buy in the hottest suburbs is just dumb.
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Mar 23, 2018 03:35
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I exercise my human right to poo poo on other humans.
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Mar 23, 2018 04:06
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Weatherman posted:Government policy that encourages the building of such industries would be a good start. And you think the limit on that is laziness?
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Mar 23, 2018 11:30
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Haifisch posted:Sounds like what's happened to a lot of American towns in the rust belt/resource gathering rural areas. The thing is, those towns LOVE it when it's going well. I really doubt many people in Flint, Michigan were going, "uhh..guys" in the 60's and 70's. I guess having one big industry gives a community a sense of identity and purpose. Kids grow up thinking they'll be just like dad and work in the steel mills. If you work in that industry, you kind of feel like the big man on campus when dealing with all the businesses that rely on yours for support. It gets even worse when it goes from micro (towns) to macro (countries). You end up with stuff like Dutch disease where the country's super profitable main export crowds out every other industry. I guess Australian is better diversified than most in that regard. potatoducks posted:I exercise my human right to poo poo on other humans. No one's going to kink shame here.
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Mar 23, 2018 12:10
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