Things that make you sad.

[RB]

There is simply no way you can think living, working, saving, buying a house now isn't harder than it has ever been.

Harder than it's ever been since WWII.

Exceptionally difficult to get a loan during the depression era (even if you had a decent deposit). And almost impossible for most people prior to the twentieth century.

However, you could buy a three-bedroom home within 10km of the CBD for only 3 or 4 times a modest salary in the 70s and 80s. I agree that that's simply not an option for first home-buyers today.

[Jimmy_041]

Did you take out the $7000 per year to run a car?

Drive a shit box that only requires having 3rd party insurance.
Won’t cost half that per year.
Catch a bus or walk when you can.

Dont need a flashy car either at that age.

$80 per week fuel - $4160
$700 rego
$600 service

$5460 with no insurance based on no repayments at all.

$80 pw for fuel
Just doing my tax
Fuel was $608 and I use the 98. Maybe its because I watch the cycle & fill up at the bottom instead of when I need to
I spent $4,120 for my car last FY
Owned outright so no interest

[amber_fluid]

Did you take out the $7000 per year to run a car?

Drive a shit box that only requires having 3rd party insurance.
Won’t cost half that per year.
Catch a bus or walk when you can.

Dont need a flashy car either at that age.

$80 per week fuel - $4160
$700 rego
$600 service

$5460 with no insurance based on no repayments at all.

4 cylinder car…… Does that $80 include coffees and food?
I’d say service the car yourself but most youngsters can’t change a tyre so I’ll leave that one.

[Brodlach]

In the 70’s and 80’s everyone wanted/needed to live close to the CBD as that’s were work and shopping mainly was, nowadays with the urban stretch with businesses and shopping Centres in all corners there isn’t as much need to live near the CBD. You get more bang for your money living further out.

I live inner South and I could count on one hand how many times I’ve been in the city the past year and that would generally be Adelaide Oval or the market.

[Brodlach]

Did you take out the $7000 per year to run a car?

Drive a shit box that only requires having 3rd party insurance.
Won’t cost half that per year.
Catch a bus or walk when you can.

Dont need a flashy car either at that age.

$80 per week fuel - $4160
$700 rego
$600 service

$5460 with no insurance based on no repayments at all.

$80 pw for fuel
Just doing my tax
Fuel was $608 and I use the 98. Maybe its because I watch the cycle & fill up at the bottom instead of when I need to
I spent $4,120 for my car last FY
Owned outright so no interest

$80 a week equates to about 70-80 kms a day, that’s a lot of driving

[dedja]

Did you take out the $7000 per year to run a car?

Drive a shit box that only requires having 3rd party insurance.
Won’t cost half that per year.
Catch a bus or walk when you can.

Dont need a flashy car either at that age.

$80 per week fuel - $4160
$700 rego
$600 service

$5460 with no insurance based on no repayments at all.

$80 pw for fuel
Just doing my tax
Fuel was $608 and I use the 98. Maybe its because I watch the cycle & fill up at the bottom instead of when I need to
I spent $4,120 for my car last FY
Owned outright so no interest

Faark, that’s probably only 4,000kms.

I did around 10,000km and yearly total spend was just on $4K. Fuel averaged $28 / week.

[Brodlach]

Umm $28 x 52 weeks is $1456

[dedja]

Umm $28 x 52 weeks is $1456

+ rego, insurance & service = $4K

[Brodlach]

Umm $28 x 52 weeks is $1456

+ rego, insurance & service = $4K

Ah, I should learn to read properly

[DOC]

And spoil the debate?

[dedja]

[Booney]

Give up the GT’s and fancy beers will help too.
I don’t know any youngster that goes without these days.

Living their lives, entitled brats.

And good on em’ but don’t complain about house prices in the interim.
I have 2 nephews in their late 20’s who fit this profile.

It's not a complaint, as we have established its a reality.

I'd imagine like most of us your property has increased in value without you doing anything at a rate much faster than wage growth. Every other very well documented cost of living crisis story adds to that.

I don't think any of us are denying it can't be done, we're just acknowledging it is different to when most of us did it.

[Booney]

$80 a week equates to about 70-80 kms a day, that’s a lot of driving

That's because you're living at the arse end.

[Dutchy]

When working out repayments on a loan banks are assessing on 3% higher than the actual market rate, i.e 9%+ at the moment which makes it tougher to get a loan however it does protect the borrowers getting in too deep

[Trader]

$150 on food, when did you last shop?

We obviously eat very differently!

Box of weet bix and 2l of milk = a week's breakfast.
loaf of bread and jar of peanut butter = a week's lunches.
5x coles roast chook, 5 pack of steamed veg = 5 of 7 dinners
Then get yourself a fillet burger combo from KFC once a week, and a pint and parmy deal once a week at the pub.
Add in half a dozen of each apples and bananas for snacks during the week.

Weetbix - $6.00
Milk - $3.00
loaf of bread - $4.40
Jar of peanut butter - $5.40
Chooks - $12.50 x 5 = $62.50
Veg - $5.00
6 bananas - $5.00
6 apples - $5.50
KFC fillet burger combo - $11.45
pint and parmy deal - $25.
-------
$133.25

Enough left over for a tub of ice cream and a packet of mixed lollies for the odd dessert.

Sure, its not the most glamorous set of meals, but once again, we get down to choices. Are you trying to get into the housing market, or are you wanting to eat out 5 nights a week?

[Vamos]

After 3 years you have a $45k deposit.
Buy a unit for $250k, putting down $25k deposit, $20k closing costs and a $225k mortgage.

$350 week repayments = $18200

$7000 to run a car.

$25,000.

$2000 on modest phone plan.

$27,000.

$250 week food = $13,000

$40,000

Now, that $700 / qtr electricity bill.....

$166/month for a phone?
Get a $50/month phone.
Spend $150 per week on food.
It adds up.

$14 Moose Mobile here. Does what it needs to do, especially good at 4am posting.

[Booney]

$150 on food, when did you last shop?

We obviously eat very differently!

Box of weet bix and 2l of milk = a week's breakfast.
loaf of bread and jar of peanut butter = a week's lunches.
5x coles roast chook, 5 pack of steamed veg = 5 of 7 dinners
Then get yourself a fillet burger combo from KFC once a week, and a pint and parmy deal once a week at the pub.
Add in half a dozen of each apples and bananas for snacks during the week.

Weetbix - $6.00
Milk - $3.00
loaf of bread - $4.40
Jar of peanut butter - $5.40
Chooks - $12.50 x 5 = $62.50
Veg - $5.00
6 bananas - $5.00
6 apples - $5.50
KFC fillet burger combo - $11.45
pint and parmy deal - $25.
-------
$133.25

Enough left over for a tub of ice cream and a packet of mixed lollies for the odd dessert.

Sure, its not the most glamorous set of meals, but once again, we get down to choices. Are you trying to get into the housing market, or are you wanting to eat out 5 nights a week?

Like anyone is eating that for a week.

[woodublieve12]

I wanna live in some of the you guys fantasy lands. Would be a delight not to struggle from pay check to paycheck

[amber_fluid]

$150 on food, when did you last shop?

We obviously eat very differently!

Box of weet bix and 2l of milk = a week's breakfast.
loaf of bread and jar of peanut butter = a week's lunches.
5x coles roast chook, 5 pack of steamed veg = 5 of 7 dinners
Then get yourself a fillet burger combo from KFC once a week, and a pint and parmy deal once a week at the pub.
Add in half a dozen of each apples and bananas for snacks during the week.

Weetbix - $6.00
Milk - $3.00
loaf of bread - $4.40
Jar of peanut butter - $5.40
Chooks - $12.50 x 5 = $62.50
Veg - $5.00
6 bananas - $5.00
6 apples - $5.50
KFC fillet burger combo - $11.45
pint and parmy deal - $25.
-------
$133.25

Enough left over for a tub of ice cream and a packet of mixed lollies for the odd dessert.

Sure, its not the most glamorous set of meals, but once again, we get down to choices. Are you trying to get into the housing market, or are you wanting to eat out 5 nights a week?

Doesn’t leave much money for:
Sushi
Almond soy latte
Smashed avo on toast
Acacia bowls
Smoothies

Poor buggers!

[Lightning McQueen]

I think this thread is covering the topic very well.

Mental health issues, soft youth coming through, and poor expectation setting.
Heck, the discussion about housing being tough is creating the excuse for the kids already, and the comparisons to median house prices, or even median unit prices is compounding that poor expectation.

Nothing wrong with living a modest lifestyle for a few years then entering the market in the 25th percentile, not the 50th.

Apparently the average hourly wage for a labourer in Australia is $33.06.
Lets round that down to $30.

Work a 40 hour week, as an 18 year old kid out of high school, 50 weeks a year = $60k

If your still at home with mum and dad, bills are bugger all, you might be paying nominal board, but essentially you can save a large wack of your salary. You aren't paying a mortgage, or rent, you aren't paying school fees for kids, etc. 18 year olds should easily be saving 25% of their wage, IMO.

After 3 years you have a $45k deposit.
Buy a unit for $250k, putting down $25k deposit, $20k closing costs and a $225k mortgage.

Sure its not the most glamorous place, but you can do it. It's a starter. Get your foot in the market and after 3 more years, upgrade if you want, or don't, its up to you.
And if you want something better, wait a few more years, why do you need to buy at 21? Wait til you're 25 and you now have over $100k saved.

But lets say you push ahead at 21, Now if you want, put a mate in the second bedroom, get $125 a week off him, that helps.
Instead of going out both Friday and Saturday nights each weekend, go out one, and babysit the other, not only do you save cash, you also put $150 cash in your pocket.

Just those two things alone put you nearly $20k up at the end of the year.

Life is about choices.
Growth is about initial sacrifice.
Delayed gratification doesn't really exist these days.

But I get accepting that truth is difficult for some, and its easier to just blame the government and/or boomers.

Very well said.


Sorry Trader, but we think alike


It’s easier to blame someone else rather than looking in the mirror, that what society has become.

Yep, I’ve made my share of bad decisions and poor judgement, I’ve had to learn the hard way but it’s all my fault for being weak.