Boomers and/or Young People Suck

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Eagleboy2011 said:
A workmates father passed of it 30 years ago. Horrible ending for him.
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It is, it’s gruesome stuff at the end

I led an organisation that had claims against it, and when you hear the stories of the plaintiffs it’s horrendous.

You’re being sued, and it’s really no one’s fault, but your sympathies are with the claimants.

The law has been changed in the UK to move claims through quickly because of the speed in which it comes on and concludes. No cure or treatment

Wife’s cousin, who I know well, bloke too young in his early 40’s has it from the family farm in Northern Ireland. Decaying shed roof’s most likely

He hasn’t got long
 

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StonesThrow said:
3bdr near Kilburn. You ever been to Kilburn?
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Aww Pity GIF by MOODMAN
 
Sanders said:
It’s called mesothelioma and it takes 25-30 years to become apparent. Then it moves fast

Nothing to joke about
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Mesothelioma is the cancer, asbestosis is an inflammation of the lungs I believe.

And I'm not joking about it either, it may seem I may have been flippant however we weren't aware at the time of the possibility of exposure.
 
kirky said:
Mesothelioma is the cancer, asbestosis is an inflammation of the lungs I believe.

And I'm not joking about it either, it may seem I may have been flippant however we weren't aware at the time of the possibility of exposure.
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I have COPD when that flares and gets worse is bad enough, can only imagine what those poor buggers go through
 
Mostyn said:
At its highest of 17% - which was only for a few months - interest payments were on average 6% of total household income. Today they are 7%.

So paying 17% interest on a cheaper house is a lot less expensive that what people face today at 6%.

That's before you consider that the average price to income ratio in Australia has doubled since 1980.

The insane price of properties is extraordinarily impactful on young people wanting to enter the market.
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im no economics expert but just seems a huge waste of capital too
 
StonesThrow said:
11A James Street, Prospect, SA 5082 https://www.realestate.com.au/property-house-sa-prospect-438656416

I'm further north than this towards Kilburn sharing with a mate. But similar house. Ours is maybe a little nicer than this and has 1 less bedroom. We've at least got an undercover area outside.

The key point is that places like this were half the price in 2020 and saving money was a LOT easier.
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I cant quite see what 2020 was.

But in 2018 it was sold for $700k and offered rent of $470 per week. (So that is still some orice escalation)

October 2022 it sold for $955k (they reckon its now worth $1.1m 😬) , no wonder they want $800 per week. (Not saying it's worth it)

Wish I'd had the cash in 2009 to buy it for $440k!
 
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Bad bipartisan public policy for years and years made residential property a desirable asset class for investment, made medium density too hard to build, made cars the massively dominant form of transport, and now we have massive spread out cities that are slow to move through and unaffordable for those not already well established in the game.

And for those saying, just save up and get in the market ASAP, what happens if the property price escalator stops? Those ppl will have bought in at sky high prices and are stuck spending all their money paying off mortgages forever, for no investment return.

And if the property price escalator doesn’t stop, what about the next generation? It’s even worse for them.

Have you been to Glen Iris? It’s a nice Melbourne suburb, in the inner part of the middle ring. 13km from the city. Here’s a very nice but by no means amazing 4br house that sold there a few weeks ago:

www.theage.com.au

Young family pays $3.86m for architect-designed Glen Iris home

Hot competition pushed the sale price more than half a million dollars above the reserve at auction as four families competed for the home.
www.theage.com.au www.theage.com.au

3.86 mil!
 
Cap said:
I cant quite see what 2020 was.

But in 2018 it was sold for $700k and offered rent of $470 per week.

October 2022 it sold for $955k (they reckon its now worth $1.1m 😬) , no wonder they want $800 per week. (Not saying it's worth it)

Wish I'd had the cash in 2009 to buy it for $440k!
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Yeah. I just don't think some older people understand the magnitude of what's happened over the last 4 years.

I'm 2019 I agreed with them that Adelaide was still affordable and it's not that difficult to save money if you make some pretty modest lifestyle choices.

As an example in late 2020, we were not far off having a 10-15% deposit saved for an old small house in a north west suburb. Looking at a house that needed work but with a bit of space 500-600m2 (not subdivideable). Dual income but lowish wages. We were going fine with our deposit. Budget was $550k.

By mid 2021 the area had grown 9% (about 50k). We thought that's okay we can save for another year and perhaps look a bit farther out (how good is hindsight).

By mid 2022 the area had grown by 32% (180k)

By mid 2023 the area had grown by 40% (220k)

It's now sitting at about $240k higher than late 2020 and closing in on a 50% increase.

Things have changed very quickly!

We've actually saved a reasonable chunk of that increase in that time (better paying jobs and cut down on a lot of things) and are now close to affording something farther out.
 
There are definitely stupid people out there who are bad with their money and complain that they can't afford anything. Of course there are when they were raised by a generation who told them they can be whatever they want to be and have whatever they want ;)

But even for people who are good with their money, it's become very difficult in a short space of time.
 
Sanders said:
The problem with these conversations is that wacky extremist positions like this just hardens views on all sides

Ooooh Murdoch is pulling all the strings from his hollowed out volcano, aided by Jewish space lasers and the lizard people threatening to invoke the zombie apocalypse

When people think it’s ok to repeat conspiratorial nonsense with a straight face, How can serious subjects ever be discussed properly?
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How could you forget clone Avril Lavigne!!
 

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I did the share house thing when I first moved to Melbourne. A shade less than $200 a week rent for a nice three bedder townhouse about 10km east of the CBD, shared utilities etc.

It was alright if you get the right lads, which we had for a few months.

If you get absolute spuds though - and I'm not talking about McHenry kind of spud, I'm talking Brad Moran type.. maybe even worse - no amount financially beneficial living arrangements makes up for that. Makes for some funny stories over a beer or three though now I guess.

Since then I made the decision to live solo until I have a missus serious enough to live with - again.. no regrets.
 
skam85 said:
If you get absolute spuds though - and I'm not talking about McHenry kind of spud, I'm talking Brad Moran type.. maybe even worse - no amount financially beneficial living arrangements makes up for that. Makes for some funny stories over a beer or three though now I guess.
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Pretty sure a Brad Moran type spud is living in a mansion somewhere, not renting a share house with his mates.
 
StonesThrow said:
11A James Street, Prospect, SA 5082 https://www.realestate.com.au/property-house-sa-prospect-438656416

I'm further north than this towards Kilburn sharing with a mate. But similar house. Ours is maybe a little nicer than this and has 1 less bedroom. We've at least got an undercover area outside.

The key point is that places like this were half the price in 2020 and saving money was a LOT easier.
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Good Lord I thought you had posted your actual address for a minute there
 
StonesThrow said:
The key point is that places like this were half the price in 2020 and saving money was a LOT easier.
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The truly amazing thing is that when you destroy the economy and print a zillion dollars paying people to stay home for two-three years over a virus with a median death age of 83….

The economy ends up….. destroyed… and the housing & rental market ends up…. inflated beyond all recognition.

I for one, did not see this coming.
 
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