Boomers vs the rest

[Madas]

Our dole payments are close to the worst in the OECD.

At least we have a dole system is more my point

I lived in the UK for a couple of years back in the 90’s and their welfare system was dreadful then

I heard it had improved not sure how much
America is pretty bad from what I hear ?

I think our public health system is very good personally ( comparatively to world )
Sure it could do with more funding but if anyone is ever in strife they are generally looked after quickly and well

 

[Madas]

Are these numbers high compared to the whole market? Historically?

$7 million a day apparently
That’s a lot of houses

Hanson’s solution in fiery Aussie Dream rant — news.com.au

Pauline Hanson has come up with a controversial fix to the nation’s housing crisis, and it has been backed by some Australians.

apple.news

It’s difficult for Australia to slow or stop migration , particularly because no one wants to do the menial jobs and we don’t have enough professionals to fill the demand at the other end of the spectrum .
As much as I agree with Senator Hansen that this would assist the housing cost problem to some extent , her thoughts are just ideals which resonate with Boomers who I must say are intrinsically fairly rascist in my experience

 

[Kram]

Where I've been looking in Perth I'm amazed at how quickly they usually get sold, often it like a week or less. Prices still seem to be creeping up as well.

Interest rates rises still haven't had time to take full effect though.

 

[Chief]

$7 million a day apparently
That’s a lot of houses

Hanson’s solution in fiery Aussie Dream rant — news.com.au

Pauline Hanson has come up with a controversial fix to the nation’s housing crisis, and it has been backed by some Australians.

apple.news

15 or so per day nationwide?

There seem to have been 200 home sales a day in Sydney alone. 130 a day in regional NSW.

Australian property sales by value | Housing market

www.housingdata.gov.au

I'm not in this industry so if anyone is, please chime in. It just doesn't seem to be that large a number compared to the whole market.

Do we have stats for the number of o/s owners who sell back to local buyers? That would tell us the net number of houses that end up in o/s hands each year.

"“(The government) doesn’t investigate this. That’s the problem, there’s no proper investigation … So people are living in tents and caravans in parks. It’s just ridiculous in a country like this.”"

Are all these houses leaving the rental pool?

I just cannot tell if this is an actual problem.

Given its Hanson and she follows up with the usual s**t, I can't take it at face value. She gets a monetary gain from whipping up this frenzy and getting votes for PHON.

“You‘ve got the Chinese, the Vietnamese, you’ve got Indians, you got other people buying property right across Australia … We can’t buy land in their own country so why are we allowing that here?” she questioned.​

​

/\ This is a lie /\

India: It is possible to buy in India. It's difficult, but it is possible.

China: You can buy property in China. It's difficult but you can. How to Buy Property in China: A Complete Guide It's a madly overvalued market anyway, seeing massive developer collapses.

Vietnam: Yes, you can buy property in Vietnam with restrictions.


So I think Hanson is full of s**t and whipping up xenophobic attitudes for personal gain.

As usual.

 

[Chief]

Umm ok mate then where exactly?

In a downturn it's harder in regional areas but at the moment it's the opposite, employers are screaming for people.

I am sure they are for skilled people, tradies and so on.

Youth unemployment is incredibly high in many regions. Which was the example in the post of mine you were commenting on.

However many regions still have high unemployment, no matter the age bracket.

I don't know why you're getting your back up about it.

 

[Caesar]

I just cannot tell if this is an actual problem.

Well, yes - nobody can, which is a problem in and of itself. Our property markets are highly regionalised, and we do not track data on them very well at all.

Most information is indicative or anecdotal. To take my home town as an example, Chinese foreign investment in Sydney residential real estate rose 16.2% in the first quarter of this year, but that's just the money FIRB knows about. Australia has historically had very poor anti-money laundering controls around real estate which has put black money several magnitudes higher - meaning there is a likely lot of other 'domestic' housing stock washing around that is defacto foreign owned. Perhaps an indicator of this problem is the huge swathes of unoccupied homes in Sydney that nobody can really explain.

Occasionally there are example cases that pop up to validate this theory, like Zhang Bo - a 32yo Australian resident who accrued a $37m property portfolio in 2 years with no visible means of income, and is widely believed to be a front man for Chinese interests. Or just a couple of months ago, when the AFP busted a Chinese money laundering operation with a huge Sydney property portfolio.

Are there other factors affecting housing stock? Sure. Is Hanson generalising and skewing the issue to represent her interests? Absolutely. But a large part of why she is able to do this is because there are a hell of a lot of red flags pointing to a rather worrying issue that we currently do not adequately understand, and cannot properly quantify.

 

[Kram]

I am sure they are for skilled people, tradies and so on.

Youth unemployment is incredibly high in many regions. Which was the example in the post of mine you were commenting on.

However many regions still have high unemployment, no matter the age bracket.

I don't know why you're getting your back up about it.

Sorry but atm there's lots of positions that require little or no skills or qualifications that really struggle to be filled.

 

[IKnowtheDog]

The beauty of the Boomer bashing is Gen X gets completely ignored

• access benefits of paid maternity leave
• low interest rates
• reasonable access to property with greater borrowing power
• No conscription
• relative cheap university costs
• superannuation being part of remuneration
• tax benefits relating to CGT and rental properties
• travel overseas when $A was strong

 

[Gough]

The beauty of the Boomer bashing is Gen X gets completely ignored

• access benefits of paid maternity leave
• low interest rates
• reasonable access to property with greater borrowing power
• No conscription
• relative cheap university costs
• superannuation being part of remuneration
• tax benefits relating to CGT and rental properties
• travel overseas when $A was strong

There's just not that many of us.

 

[Kram]

The beauty of the Boomer bashing is Gen X gets completely ignored

• access benefits of paid maternity leave
• low interest rates
• reasonable access to property with greater borrowing power
• No conscription
• relative cheap university costs
• superannuation being part of remuneration
• tax benefits relating to CGT and rental properties
• travel overseas when $A was strong

Housing affordability is the main exception but in no way would I swap living in today's world with back when boomers were the same age.

 

[Chief]

Sorry but atm there's lots of positions that require little or no skills or qualifications that really struggle to be filled.

Great. That's not the universal situation.

(Cue new argument.)

 

[Madas]

The beauty of the Boomer bashing is Gen X gets completely ignored

• access benefits of paid maternity leave
• low interest rates
• reasonable access to property with greater borrowing power
• No conscription
• relative cheap university costs
• superannuation being part of remuneration
• tax benefits relating to CGT and rental properties
• travel overseas when $A was strong

Because we rule !

 

[Madas]

The beauty of the Boomer bashing is Gen X gets completely ignored

• access benefits of paid maternity leave
• low interest rates
• reasonable access to property with greater borrowing power
• No conscription
• relative cheap university costs
• superannuation being part of remuneration
• tax benefits relating to CGT and rental properties
• travel overseas when $A was strong

I actually think lots of millennials think Gen Xers are Boomers
My kids call us Boomers

 

[NaturalDisaster]

I actually think lots of millennials think Gen Xers are Boomers
My kids call us Boomers

Yep and a lot of older people think Millenials are people teens-25, when most are late 20s to early 40s.

Boomers and Millenial have turned into terms to describe attitudes more than actual generation.

 

[Madas]

Yep and a lot of older people think Millenials are people teens-25, when most are late 20s to early 40s.

Boomers and Millenial have turned into terms to describe attitudes more than actual generation.

Spot on
So what is an under 30 called these days ?

 

[Kram]

In WA I think Boomer as anyone old enough to get in before the first housing boom, so probably late 40s and older.

 

[HairyO]

Spot on
So what is an under 30 called these days ?

Soft.
Whiny.
Hypocrite.

 

[Kwality]

It is. There is about to be a massive nurse shortage that is totally under the radar.

Not in the industry, everyone is aware of it. If you value your social life, its got its limitations.

 

[Kwality]

In WA I think Boomer as anyone old enough to get in before the first housing boom, so probably late 40s and older.

My folks moved into the family home in 1948, after my father came back from WW2* in Europe. The family home got its first jump in value in the 70s/Whitlam era & again & again until it was sold in the 90s & they went into retirement accomodation.

We kids left home in the 70s & we are the Boomer generation (1946-64) & the first of the inheritance generations. From personal observation, the inheritance is used to pay off the home mortgage, &/or upgrade the residence & ride the waves of inflation effectively what do what my long gone folks did.
Thats not to ignore those who used the inheritance to increase their own wealth OR those who simply/effectively 'pissed it up against the wall'.

The youngest of the Boomer generation turn 60 next year & many/most are still working. So the late 40s of today are NOT Boomers. I retired at 70.

the inheritance generations
Thats the challenge for most here to address.
Its not just in Australia:

Why should we baby boomers be duty bound to bail out Gen X?

I find myself listening increasingly to how a friend or relative is going to transfer their wealth to their children, writes Chris Blackhurst, and it makes me uneasy for those who don’t have a nest egg

www.independent.co.uk

or

Boomers have more wealth ‘than any other generation,’ but millennials may not inherit as much as they hope

There's a growing disconnect between how much millennials expect to inherit and how much aging baby boomers plan on leaving them.

www.cnbc.com

* My folks were born during WW1 & lived through the great depression & WW2 thus effectively inherited very little.

 

[Kwality]

Our dole payments are close to the worst in the OECD.

Here's a link:Social protection - Public unemployment spending - OECD Data

Mayo ?

 

[Kwality]

I am sure they are for skilled people, tradies and so on.

Youth unemployment is incredibly high in many regions. Which was the example in the post of mine you were commenting on.

However many regions still have high unemployment, no matter the age bracket.

I don't know why you're getting your back up about it.

Take a trip to the regions, walk down the main street & look at the wanted signs, unskilled labour flexible hours.

 

[Kwality]

Spot on
So what is an under 30 called these days

The generations defined​

 

[Kram]

Take a trip to the regions, walk down the main street & look at the wanted signs, unskilled labour flexible hours.

Yep just tough to get people for anything.

In low socio economic areas which a lot are there is also a small % of people that simply don't want to ever work.

 

[Rotayjay]

'We're not paying the price': The boomers boosting inflation as the RBA lifts rates to fight it

The Reserve Bank is hiking interest rates — and hitting borrowers — to fight high inflation, but data suggests the fight is being undermined by big-spending baby boomers.

www.abc.net.au

One of the current sore points is the idea that 'boomer' generations who have paid their house off or who have tiny mortgages aren't shouldering the burden of spiralling mortgage repayments and rents.

 

[Kwality]

'We're not paying the price': The boomers boosting inflation as the RBA lifts rates to fight it

The Reserve Bank is hiking interest rates — and hitting borrowers — to fight high inflation, but data suggests the fight is being undermined by big-spending baby boomers.

www.abc.net.au

One of the current sore points is the idea that 'boomer' generations who have paid their house off or who have tiny mortgages aren't shouldering the burden of spiralling mortgage repayments and rents.

Did those criticising suffer Whitlam & his wife (inflation is a lot of hoo - ha).