Kidults

[tech/a]

They were also taking their trips overseas and the catch cry for the day was live it up now.

Couldn't see the sense in their views then and can't see it now

You cant??

Hell I say live it up EVERYDAY 10 or 100---enjoy EVERY single day and EVERY single person you come in contact with.

Dont take life so seriously ---you ungrateful greedy bastards!!

 

[krisbarry]

22- bought and sold house already
20k capital gain, 7k grant
no tax (residence owned for more than 12mths)
income well below 85k

MOVE TO QUEENSLAND!!!

Well done!

Next time around it won't be that easy.....

*You will not be able to claim the $7000 first home buyers grant.
* House prices have increased and now stablized or falling.

 

[dutchie]

This a very interesting thread and there are lots of different views.

My thoughts are that my parents when they were alive owed me nothing - in fact I owed them big time.

1. They brought me into the world ( you would not be in a position to complain about them if you weren't born!).

2. They gave me a great environment to grow up in - an education in life and paid for a formal education that has laid the foundation for my life now.

3. Until you are a parent yourself you do not know or understand the sacrifices parents make for their children.

4. Every parents goal is to give their children a better life than they had - the majority succeed in this!

5. To deny them happiness in their twightlight years just so that 'the inheritance' is big is selfish and extremely ungrateful.

6. Both my parents have passed away having spent all their money in retirement leaving nothing - that is what my sister and I insisted on. I would give anything for them to be alive and living with my family now.

7. A parents responsibility is to feed you, cloth you, house you and educate you - once your old enough to stand on your own feet then you have responsibilities to them!

On an other note people complaining about house prices and those who have more than one property as an investment should not be trading shares. Shares are the same as houses. As soon as they are too expensive you don't buy them - others may still be able to afford to buy them - so should we deny them that right just because you can't afford them?

Stop whinging and enjoy life - thats what your parents would want.

 

[DTM]

They were also taking their trips overseas and the catch cry for the day was live it up now.

Couldn't see the sense in their views then and can't see it now

You cant??

Hell I say live it up EVERYDAY 10 or 100---enjoy EVERY single day and EVERY single person you come in contact with.

Dont take life so seriously ---you ungrateful greedy bastards!!

Sorry, my point was that they've probably got another 30 to 40 good years left so it was more about planning for their future years. With people living longer now, I think its improtant to plan.

Yes, they should enjoy their retirement, but also look ahead.

 

[tech/a]

Dont take life so seriously ---you ungrateful greedy bastards!!

DTM and others ---this is my sence of humour---dont be so serious then I get serious!!! Know what I mean nudge nudge---damn its to late the moments lost

Definately no need to apologise I know what you meant and accepted it as that!

 

[krisbarry]

I just look at myself/my family structure and in comparisson a mate of mine who is of Italian breed.

He stayed at home till his mid to late 20's saved lots of cash and was splashed with cash from his relatives too. He was the typical "Kidult". He then went out and bought property. Now 30ish, he is sitting on over a million dollars of property. Some would say lucky, lucky to have a supportive family structure, lucky to be able to stay in a safe home environment and lucky enough to have wealthy relatives. In my books, he is set for life. He now supports his family by providing them with money and free accomodation.

Here is me....

Moved out of home at 18, very little family support, from immediate family or relatives. I was in no way a burden on my parents, finacially or emotinally. I supported myself. My brother and sister soon followed my leed and moved out to. We (my brother, sister and myself) are now 30ish too and yet we own no property and very little wealth.

Can you spot the difference?, it is pretty clear to me that "Kidults" and a supportive family structure breeds not only stablilty, but far greater wealth.

 

[Milk Man]

Well done!

Next time around it won't be that easy.....

*You will not be able to claim the $7000 first home buyers grant.
* House prices have increased and now stablized or falling.

but now ive found aussie stock forums hehehe

 

[Smurf1976]

Welfare of any kind in my view is for those who NEED it rather than those who simply WANT it.

If someone can't work for some valid reason such as severe disability, health or whatever or if they have tried their best but simply can't find work then I'm quite happy for my taxes to fund their welfare payments for as long as necessary. To me that is fair.

But if someone simply decides that they don't want to work despite being able and there being work available which they could do then I object to paying them to sit around and get up noon whilst I work. I think that too is fair.

Likewise I am firmly of the belief that nobody should be denied medical treatment, education, food or shelter simply becasue they lack the economic means to afford it.

If my parents were 75 years old and genuinely needing somewhere to live then of course I would help.

But if my parents were 55 years old, wealthy, in good health and voluntarily retired whilst I was not nearly as well off and would likely need to work until 65 then I most certainly do NOT think they have a legitimate need for welfare at my personal expense simply because they are my parents. If they need physical help or legitimately outlive their finances they that's another matter. But I will never see the need for the poor giving to the rich no matter who they are. That the concept of doing just that is becomming more common (thankfully still a minority) is the real point here IMO.

 

[krisbarry]

Housing heads down

30may05
HOUSING markets in Australia's capital cities have now exceeded affordability levels, with house prices expected to stagnate or weaken in the year ahead, a report says.

Industry analysts BIS Shrapnel's 2005 report on residential property prospects in capital cities predicts price growth will continue to slow during 2005/06, with some cities to experience price declines.

BIS predicted that anticipated interest rates rises next year would see prices stagnate or fall even lower in 2006.

"With housing affordability at its lowest level since the late 1980s boom, further growth will be constrained in a rising interest rate environment," senior project manager Angie Zigomanis said.

But despite a fall in consumer spending, the report expects a rise in business investment to drive economic growth, buoying employment growth and sending the unemployment rate down.

The report forecasts that as a result of growth, the Reserve Bank of Australia (RBA) will continue to tighten official interest rates.

BIS predicted the standard variable home loan rate would rise to nine per cent by the second half of 2006, inducing an across-the-board downturn in house prices.

The report said housing prices in Sydney and Melbourne had already fallen in 2003 following rate rises with Brisbane, Perth, Adelaide, Canberra, Hobart and Darwin following suit in 2004.

The market is expected to bottom out in 2007 and 2008, with prices tipped to have declined by between 15 to 20 per cent from peak levels in some cities, before commencing an upturn in 2008/09.

Mr Zigomanis said Perth, Darwin and Brisbane were likely to emerge without a more significant decline given their more healthy underlying demand.

In Sydney, house prices fell by three per cent between March and December last year with a further four per cent fall forecast over this financial year.

Interstate migration out of Victoria has led to a drop in underlying market demand in Melbourne, contributing to a broader plateau in price growth with price growth expected to stall in the 2005/06 followed by a fall.

Following extraordinary house growth in Brisbane since 2001, median house prices are expected to show only a modest rise this year and in 2005/06 before falling two per cent in the next financial year.

Affordability levels in Adelaide remained healthier than in eastern capital cities although recent construction levels exceeded underlying demand, which was expected to slow house price growth to two per cent in 2005/06 before a three per cent decline in 2006/07.

Perth's market - which showed only moderate growth in the upturn period - would be also be affected with a forecast decline of one per cent in 2006/07.


Median house price growth by capital city, 2005-2008:
Q2 2005 Q2 2008 Per cent
estimate forecast change
Sydney $500,000 $465,000 -7.0
Melbourne $375,000 $357,000 -4.8
Brisbane $318,000 $323,000 1.6
Adelaide $270,000 $260,000 -3.7
Perth $280,000 $287,000 2.5
Hobart $273,000 $267,000 -2.2
Canberra $352,000 $340,000 -3.4
Darwin $270,000 $295,000 9.3

Source: BIS Shrapnel

 

[mime]

I just look at myself/my family structure and in comparisson a mate of mine who is of Italian breed.

He stayed at home till his mid to late 20's saved lots of cash and was splashed with cash from his relatives too. He was the typical "Kidult". He then went out and bought property. Now 30ish, he is sitting on over a million dollars of property. Some would say lucky, lucky to have a supportive family structure, lucky to be able to stay in a safe home environment and lucky enough to have wealthy relatives. In my books, he is set for life. He now supports his family by providing them with money and free accomodation.

Here is me....

Moved out of home at 18, very little family support, from immediate family or relatives. I was in no way a burden on my parents, finacially or emotinally. I supported myself. My brother and sister soon followed my leed and moved out to. We (my brother, sister and myself) are now 30ish too and yet we own no property and very little wealth.

Can you spot the difference?, it is pretty clear to me that "Kidults" and a supportive family structure breeds not only stablilty, but far greater wealth.

You don't anything because you are a student with little money and you probably had the time of your life with whatever spare cash you had left.

What did you study? Will you find it useful to get a kick ass job?

Your friend owns million dollar real estate but how much is geared? Will he survive if he falts on his payments?

 

[mime]

Holy moly. Never ever listen to BIS Shrapnel.

 

[krisbarry]

Holy moly. Never ever listen to BIS Shrapnel.

Latest reports suggest housing market will be flat for a period of 10 years. Within this 10 year period, there will be a decline for approx 4 years, then a slight recovery for approx 6 years, thus making a flat market. I am hearing of 1-3% returns on rental properties. Hence the reason why investors have sold out/ cashed up, left the market and are investing elsewhere.

Will be a great buyers market in about 4-5 years