Boomers vs Kids these days

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MarcusP2

Norm Smith Medallist
Sep 21, 2009
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Ok Boomer.
My first pay cheque was $87 / fortnight...good old State Bank of SA...had to pay board out of that as was one of 9 - most of whom were at home still. I had to save my guts out to buy a home, only to be let go by the aforementioned arseholes. The f*cking snowflake generation of today wouldn't have survived in those days. Photos of their meals, complaining about lockdowns (we didn't have a choice then....no money to spend), how hard it is for them - what a load of b*llshit. I did manage to put my two kids through uni and paid their HECS debts up front...has set them up for life. No matter what generation - work hard, save as much as you can, and forego some pleasures, then hopefully you can enjoy some later in life.
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119others

Premium Platinum
Apr 19, 2018
323
438
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My first pay was $80 a week and that was working 6.5 days (including a Sunday which was double time). Rent back then was $47 a week for a fully furnished 2 bedroom flat. You had no telephone. My first car cost $500 (9 year old 1969 mini - rally converted) and petrol was 42 cents a litre. I remember being sent my first bankcard (without ever having applied for it) with a $300 limit and getting my first hifi on hire-purchase. Hubby and I saved $20,000 which would have been a good deposit on a house (in fact, we could have bought a 3 bedroom brand new house in Canberra back then for $49,000. We baulked because we were moving overseas and wasn't sure if we'd need the money. In the end we did need the money (had to pay 6 months in advance for rent - TWICE, because we were foreigners). By the time we returned to Australia, that same house was worth $160,000. My mum sold her ex-govie for about that price ($160,000) and it is now worth around the million mark (inner city Canberra). We rented for 14 years before we could afford to buy our first home - I'd just turned 30. We definitely made money on our house... but probably not if you included 15 years of repayments.

Kids earn a sh*t load more than we did at the same age... but cost of living is also expensive. Is it all relative?
\\
Hi Jenny

I like your posting and you are a reasonable and logical poster from my experience. Hopefully after understanding the hard facts below you will acknowledge the obvious.

No its nothings like relative. The average wage in 1975 was $7000. The average house price in Sydney was around $26,000 (3-4x salary levels).

Now the average salary is around $70,000 and average house price $900,000 (13x average salary levels).

Property prices (and mortgage lending) have been growing 3-4x FASTER than earnings growth for 15-20 years in this country.

As a Gen X whose major asset is a nice home, I truly acknowledge the younger generation (Y's and Millenials) have been ABSOLUTELY SCREWED by Govt policy over many areas in the last decade. Boomer spike in population leads to PM after PM being a Boomer and catering to the masses, by successive Govts. Its not even debatable for people with the facts.
 

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Coopers

Norm Smith Medallist
Mar 23, 2007
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Ohhhh :grimacing:, I'm gonna cop heaps for this :D:D:D, but ... instead of whinging/mocking your father, why don't you help/show him how to? It'd be helpfully filial, if not respectful.
('sfunny --- back in his/our day, there was no need to send "a picture message". I know this sounds weird, but we used to get together with friends and show each other photos, talk and laugh in actual company, face to face :oops::oops:. You're gonna love this; we had actual, physical friends that we saw in real time, not hundreds of e-friends that we'd never met.
Crazy, huh? :D
Also, we used to have things called "dinner parties" --- Google it, they're now extinct, like most other forms of real, social interaction --- where we actually talked to each other!! :eek: instead of sitting around in groups, together-yet-isolated while glued to your phones.
When we were in groups, we actually --- are you sitting down? --- looked at and spoke to each other!! Scary, right, to not have an e-shield ie iphone/android, keeping us separate, safe and polarised?
Cooked our own food, too. How weird is that??
But hey, I'm so old that you think our rainbows back then were Black & White ;) *runs for cover*)
You win most boomery post on the thread!

Honestly I didn't think it was possible to jump in at this stage and do it!
 

Coopers

Norm Smith Medallist
Mar 23, 2007
6,755
5,390
Adelaide
AFL Club
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My first pay cheque was $87 / fortnight...good old State Bank of SA...had to pay board out of that as was one of 9 - most of whom were at home still. I had to save my guts out to buy a home, only to be let go by the aforementioned arseholes. The f*cking snowflake generation of today wouldn't have survived in those days. Photos of their meals, complaining about lockdowns (we didn't have a choice then....no money to spend), how hard it is for them - what a load of b*llshit. I did manage to put my two kids through uni and paid their HECS debts up front...has set them up for life. No matter what generation - work hard, save as much as you can, and forego some pleasures, then hopefully you can enjoy some later in life.
No, I was wrong.
 

cm_perfect

Premiership Player
Dec 7, 2007
3,300
3,214
Adelaide
AFL Club
Adelaide
\\
Hi Jenny

I like your posting and you are a reasonable and logical poster from my experience. Hopefully after understanding the hard facts below you will acknowledge the obvious.

No its nothings like relative. The average wage in 1975 was $7000. The average house price in Sydney was around $26,000 (3-4x salary levels).

Now the average salary is around $70,000 and average house price $900,000 (13x average salary levels).

Property prices (and mortgage lending) have been growing 3-4x FASTER than earnings growth for 15-20 years in this country.

As a Gen X whose major asset is a nice home, I truly acknowledge the younger generation (Y's and Millenials) have been ABSOLUTELY SCREWED by Govt policy over many areas in the last decade. Boomer spike in population leads to PM after PM being a Boomer and catering to the masses, by successive Govts. Its not even debatable for people with the facts.
Surely this isn’t Adelaide, 900K gets you a sweet joint very close the the city. Not sure if that’s a realistic 1st home.

But give it time, if I am lucky I will get to read how the millennials left the rough end of the pineapple to the next bunch.
 

mistylake

Brownlow Medallist
Mar 21, 2014
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Did I say first? I said median.
It doesn’t matter what median house price is. Purchase where you can.
I bought my first house in ‘99. It would have been lovely to get something with ocean views in sunshine beach, but they were $800 K, I went over the sand dune and paid $149K. I had to walk 20 mins to the beach not 2 but that’s life.
 

mistylake

Brownlow Medallist
Mar 21, 2014
11,190
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Norwood, Canadiens, Maroons.
\\
Hi Jenny

I like your posting and you are a reasonable and logical poster from my experience. Hopefully after understanding the hard facts below you will acknowledge the obvious.

No its nothings like relative. The average wage in 1975 was $7000. The average house price in Sydney was around $26,000 (3-4x salary levels).

Now the average salary is around $70,000 and average house price $900,000 (13x average salary levels).

Property prices (and mortgage lending) have been growing 3-4x FASTER than earnings growth for 15-20 years in this country.

As a Gen X whose major asset is a nice home, I truly acknowledge the younger generation (Y's and Millenials) have been ABSOLUTELY SCREWED by Govt policy over many areas in the last decade. Boomer spike in population leads to PM after PM being a Boomer and catering to the masses, by successive Govts. Its not even debatable for people with the facts.
Don’t live where houses are so expensive. It’s a pretty easy concept.
 

jenny61_99

Premium Platinum
Feb 22, 2006
55,118
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My kid is GenZ or whatever those poor bastards are called. He’s a lucky one. Only kid of Boomer parents, no mortgage, no debts, good super. Eventually it’ll all be his. But he’s still working his arse off at Uni. Has a great work ethic and self motivated. He’s been brought up to understand the inequalities in life where the haves need to look out for the have nots. Thanks to his SJW 😜 mum, he cares about people and looks out for those less fortunate. Thanks to his more conservative but scientific dad, he has a pretty good grasp of what’s going on in the world. I’ve loved watching him develop his own political thoughts and beliefs as he’s matured. He’s surrounded by mates from all walks of life, different ethnicities and religions. He’s not self absorbed, he’s got a wicked sense of humour and a genuinely nice bloke. Kids like him will be fine because of boomers like us. We’re not that bad.
 

Vhaluus

Brownlow Medallist
May 13, 2016
12,348
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It doesn’t matter what median house price is. Purchase where you can.
I bought my first house in ‘99. It would have been lovely to get something with ocean views in sunshine beach, but they were $800 K, I went over the sand dune and paid $149K. I had to walk 20 mins to the beach not 2 but that’s life.
I wasn't proposing that's what they would buy. I was using median house price because it was the way to do a like for like comparison.

Honestly the more this debate drags on the more the "boomers were smarter and worked harder" argument is proving itself to be absurd.
 

Vhaluus

Brownlow Medallist
May 13, 2016
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Surely this isn’t Adelaide, 900K gets you a sweet joint very close the the city. Not sure if that’s a realistic 1st home.

But give it time, if I am lucky I will get to read how the millennials left the rough end of the pineapple to the next bunch.
You mean the generation advocating aggressive action on climate change, better social safety nets and a society more accepting of diversity in race, religion and sexual/gender identity?

Yeah going to be horrific having to put up with that if we have our way. Poor kids.
 

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Southerntakeover

Hall of Famer
Feb 21, 2006
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My first pay cheque was $87 / fortnight...good old State Bank of SA...had to pay board out of that as was one of 9 - most of whom were at home still. I had to save my guts out to buy a home, only to be let go by the aforementioned arseholes. The f*cking snowflake generation of today wouldn't have survived in those days. Photos of their meals, complaining about lockdowns (we didn't have a choice then....no money to spend), how hard it is for them - what a load of b*llshit. I did manage to put my two kids through uni and paid their HECS debts up front...has set them up for life. No matter what generation - work hard, save as much as you can, and forego some pleasures, then hopefully you can enjoy some later in life.
Genuine LOL at being in a position to live at your parents home whilst full time working, and yet still convincing yourself that you have had it so tough that no one could possibly understand these days.
 

mistylake

Brownlow Medallist
Mar 21, 2014
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Norwood, Canadiens, Maroons.
I wasn't proposing that's what they would buy. I was using median house price because it was the way to do a like for like comparison.

Honestly the more this debate drags on the more the "boomers were smarter and worked harder" argument is proving itself to be absurd.
I’m not a boomer 🤣
 

mistylake

Brownlow Medallist
Mar 21, 2014
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You mean the generation advocating aggressive action on climate change, better social safety nets and a society more accepting of diversity in race, religion and sexual/gender identity?

Yeah going to be horrific having to put up with that if we have our way. Poor kids.
The thing is that your preaching the same stuff that us older generations were banging on about before we bought houses and started becoming more conservative which you will also do, then you’ll get a chance to be at the pointy end of decision making and do the same.
 

Vhaluus

Brownlow Medallist
May 13, 2016
12,348
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The thing is that your preaching the same stuff that us older generations were banging on about before we bought houses and started becoming more conservative which you will also do, then you’ll get a chance to be at the pointy end of decision making and do the same.
Honestly if I bought into your premise then I'd chose to stay poor rather than get rich and conservative.

Luckily it's a load of crap (and research has shown that to be so); So I can try and aim for a better life for myself while still advocating and working for a better life for others and be willing to sacrifice part of my own wealth to make that happen.

Does it not make you feel utterly hollow inside to openly admit 'yeah once I cared about other people, but now I've got mine and I live a comfortable existance so fu** those others'?. Like have you ever stopped to think what that says about you as a person?
 

Southerntakeover

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The thing is that your preaching the same stuff that us older generations were banging on about before we bought houses and started becoming more conservative which you will also do, then you’ll get a chance to be at the pointy end of decision making and do the same.
As delightful a proposition becoming a craven simulacrum of human being just like you would be, you're going to destroy the world first.
 

119others

Premium Platinum
Apr 19, 2018
323
438
AFL Club
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Surely this isn’t Adelaide, 900K gets you a sweet joint very close the the city. Not sure if that’s a realistic 1st home.

But give it time, if I am lucky I will get to read how the millennials left the rough end of the pineapple to the next bunch.
Referring to Sydney in the statement:

No its nothings like relative. The average wage in 1975 was $7000. The average house price in Sydney was around $26,000 (3-4x salary levels).

Now the average salary is around $70,000 and average house price $900,000 (13x average salary levels).




That said, all Aussie city house price to income levels are globally elevated
 

mistylake

Brownlow Medallist
Mar 21, 2014
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Norwood, Canadiens, Maroons.
Honestly if I bought into your premise then I'd chose to stay poor rather than get rich and conservative.

Luckily it's a load of crap (and research has shown that to be so); So I can try and aim for a better life for myself while still advocating and working for a better life for others and be willing to sacrifice part of my own wealth to make that happen.

Does it not make you feel utterly hollow inside to openly admit 'yeah once I cared about other people, but now I've got mine and I live a comfortable existance so fu** those others'?. Like have you ever stopped to think what that says about you as a person?
Well considering you know zero about me as I do about you. (I actually thought you were around my age until this thread).
No I’m actually quite fine. I’m primarily focussed on my family with 2 teen kids.
I personally did with my ex wife put everything into wealth creation around ‘99-2000. I’m talking hard core deprivation of spending, coupled with near constant work for 15 years. I’m not vaguely rich but I can weather a few storms though. This was all with a wife with chronic illness which eventually had us seperate and her receiving a larger than half share of assets. These things tend to change the priorities and outlook from what was planned at 20/30 years. We all age in different ways so I honestly hope it all worksout well for you. My conscience is quite clear.
 

mistylake

Brownlow Medallist
Mar 21, 2014
11,190
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Norwood, Canadiens, Maroons.
As delightful a proposition becoming a craven simulacrum of human being just like you would be, you're going to destroy the world first.
When I need to google half your sentence I generally gloss over.
You might impress yourself but not me.
 

MarcusP2

Norm Smith Medallist
Sep 21, 2009
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Well considering you know zero about me as I do about you. (I actually thought you were around my age until this thread).
No I’m actually quite fine. I’m primarily focussed on my family with 2 teen kids.
I personally did with my ex wife put everything into wealth creation around ‘99-2000. I’m talking hard core deprivation of spending, coupled with near constant work for 15 years. I’m not vaguely rich but I can weather a few storms though. This was all with a wife with chronic illness which eventually had us seperate and her receiving a larger than half share of assets. These things tend to change the priorities and outlook from what was planned at 20/30 years. We all age in different ways so I honestly hope it all worksout well for you. My conscience is quite clear.
On a national scale this probably puts you in the top 10%. People tend to vastly underestimate how 'rich' they are in the national scale.

My household income in probably in the top 5% of Australians. Buying a house in Sydney would terrify me.
 

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