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Old 17-05-2017, 10:07 PM   #86
xax2
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Default Re: Australia housing bubble

Quote:
Originally Posted by danzvtil View Post
Well said, too often people are looking for a scapegoat.
The other chestnut I hear is that the govt need to release more land. Land must be developed in parcels as the cost to do so is very high, developers won't carve up every square inch of available land just so the poor people can have a block at a 40% discount, they'll go broke.
Argue all you like about how many years income a house is today, 40 years ago our parents all scrimped and saved to buy in what was then underdeveloped, less desirable communities.
At the risk of sounding like a mutual admiration society, I full agree.
If you look at the type of house available in the outer suburbs in the 50's it was usually 2 or 3 bedrooms, 1 bathroom , basic weatherboard (half the size of today's homes). The 50's first home buyer realised it might not be close to shops, schools and parkland and many of the new estates had unmade roads in those days. They bought furniture gradually and didn't just put it on the credit card. Their kids often shared bedrooms and the family only had the one car. Compare this with the expectations of today.
I'm certainly not having a go at the first home buyers of today, but many have had a 3 month trip to Europe before starting to save for a house (something their parents wouldn't have done)....sometimes you can't have everything....but please don't complain about the older generation, when you are earning a lot more than they did.
These days, the outer suburbs of the 50's are now the middle suburbs and are no longer affordable for the young, unfortunately, the young home-maker is going to have to do their time in the outer suburbs until they can afford something better (just like we all had to). (yes, I know there were cheap inner suburbs in the '70's but they were horrible then with no services...people took a chance, moved in and fixed them up) maybe the next generation may need to look outside the square and 'fix up' some country towns....they've usually got great old pubs and historic buildings, existing school, maybe even a railway station to the city. Maybe this could be their chance to 'think outside the square'....we all can't live in the trend inner city and it's becoming to crowded anyway.
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