Log In

Your email is not your username

Register

If you were a member of the old Bodybuilding.com forums and would like to reuse your previous username, you can request it below. We use your email only for registration and do not store it. For more information, please see our Privacy Policy.

Confirm your email

A registration code was sent to your email. Enter it here.

Welcome

You have successfully setup your account.

Sign in

Quick Navigation Bottom Misc
Forum » House prices booming in the most valuable real estate market in the Western world
  1. Results 1 to 18 of 18
  2. Page 1 of 1

Thread: House prices booming in the most valuable real estate market in the Western world

post 1704613771 08-05-2024, 12:19 AM
-
#1
  1. r32gojirra
  2. Registered NEET
  1. r32gojirra
  2. Registered NEET
  3. Join Date: Feb 2013
  4. Location: East Coast, Australia
  5. Posts: 39,473
  6. Subscribers: 6
  7. Rep Power: 592342

House prices booming in the most valuable real estate market in the Western world

“Australian home prices have continued to grow during the normally quiet winter period amid sluggish construction and a surge in buyer demand fuelled by tax cuts and wage increases.

Prices are now an average of 6.3 per cent higher than a year ago.

National prices were now also about 43 per cent higher than they were at the start of the pandemic in 2020, PropTrack noted.”


https://www.realestate.com.au/news/a...nPlacement=spa

I feel sorry for anyone that didn’t buy before the plandemic

I don’t feel sorry for anyone that sold thinking the market would crash
post 1704614001 08-05-2024, 12:29 AM
-
#2
  1. swole-striation
  2. Uwotm8?
  1. swole-striation
  2. Uwotm8?
  3. Join Date: Apr 2010
  4. Location: Australia
  5. Posts: 4,043
  6. Rep Power: 11392
Feel sorry for the next generation, not sure how they going to afford a place.
post 1704614051 08-05-2024, 12:32 AM
-
#3
  1. r32gojirra
  2. Registered NEET
  1. r32gojirra
  2. Registered NEET
  3. Join Date: Feb 2013
  4. Location: East Coast, Australia
  5. Posts: 39,473
  6. Subscribers: 6
  7. Rep Power: 592342
Originally Posted By swole-striation⏩
Feel sorry for the next generation, not sure how they going to afford a place.
Short answer: they won’t

That’s the whole plan you will own nothing and be happy

I’m already scoping out a block big enough for a duplex (might need a triplex lol) to gift each of my sons a house outright.

I may need to put it into a trust or something to keep it out of reach of gold diggers but whatever happens I can’t have them wageslaving for 50 fukkin years to afford a 3x2 in Strathfield or some chit
post 1704614101 08-05-2024, 12:36 AM
-
#4
  1. Miscstatic
  2. Banned
  1. Miscstatic
  2. Banned
  3. Join Date: Aug 2024
  4. Age: 56
  5. Posts: 126
  6. Rep Power: 0
Things are only 'worth' as much as people are willing to buy them for.

If someone wanted to buy a regular spoon I have for a million, that spoon is worth a million dollars. Nobody would, so it's not worth that.

Homes only cost what they do because people are still willing to buy it for that price, and they still can and are

Once people stop saying ok, prices will stop growing. It's a better strategy to figure out how you can make enough money to buy one, and, be patient. You don't need to buy huge. My house is 2,000 square feet, it's perfect. You don't need to buy in your favorite city, buy 25 minutes out if you need.
post 1704614151 08-05-2024, 12:38 AM
-
#5
  1. r32gojirra
  2. Registered NEET
  1. r32gojirra
  2. Registered NEET
  3. Join Date: Feb 2013
  4. Location: East Coast, Australia
  5. Posts: 39,473
  6. Subscribers: 6
  7. Rep Power: 592342
Originally Posted By Miscstatic⏩
Things are only 'worth' as much as people are willing to buy them for.

If someone wanted to buy a regular spoon I have for a million, that spoon is worth a million dollars. Nobody would, so it's not worth that.

Homes only cost what they do because people are still willing to buy it for that price, and they still can and are

Once people stop saying ok, prices will stop growing. It's a better strategy to figure out how you can make enough money to buy one, and, be patient. You don't need to buy huge. My house is 2,000 square feet, it's perfect. You don't need to buy in your favorite city, buy 25 minutes out if you need.
What do you think will happen with the coming interest rate cuts
post 1704614271 08-05-2024, 12:43 AM
-
#6
  1. MiscMathematician
  2. High Calorie Human
  1. MiscMathematician
  2. High Calorie Human
  3. Join Date: May 2006
  4. Posts: 6,650
  5. Rep Power: 212439
Originally Posted By Miscstatic⏩
Things are only 'worth' as much as people are willing to buy them for.

If someone wanted to buy a regular spoon I have for a million, that spoon is worth a million dollars. Nobody would, so it's not worth that.

Homes only cost what they do because people are still willing to buy it for that price, and they still can and are

Once people stop saying ok, prices will stop growing. It's a better strategy to figure out how you can make enough money to buy one, and, be patient. You don't need to buy huge. My house is 2,000 square feet, it's perfect. You don't need to buy in your favorite city, buy 25 minutes out if you need.
joe and sally, newlyweds buying a 600k house on a 150k combined income will be house poor and miserable. but theyll do it. the sense of owning a home is paramount to them, it's their dream.

whereas 2 generations ago, they had their pick of houses larger than needed for around a years salary. they could save half their income and still go on vacations. and also, only one of them worked and could also afford a couple kids.
post 1704614301 08-05-2024, 12:43 AM
-
#7
  1. Miscstatic
  2. Banned
  1. Miscstatic
  2. Banned
  3. Join Date: Aug 2024
  4. Age: 56
  5. Posts: 126
  6. Rep Power: 0
Originally Posted By r32gojirra⏩
What do you think will happen with the coming interest rate cuts
I don't know. I once read about the impacts of rate cuts, but I can't confidently remember the answer.

Rates go down, people can buy houses that cost more because they're paying less in interest, but there's a lot more to it so I can't remember what it will do.

A point won't make a huge difference imo. Also if you're buying a house and plan to live there a long time, it doesn't matter if the market is high or low, it will even out after 15 years or so.
post 1704614441 08-05-2024, 12:50 AM
-
#8
  1. eddiehaskell
  1. eddiehaskell
  3. Join Date: Oct 2009
  4. Age: 42
  5. Posts: 16,178
  6. Rep Power: 33829
i think the end goal decades into the future might be to make future generations happy to just rent a decent house. paying rent will be as normal as paying a cell bill. this ensures that the vast majority will be doing some form of wageslaving for 50 years. in the charlotte metro where i am it looks like a decent area 3br 1000-1300 sq ft is heading towards $2000/month rent at the minimum.

hell i saw a woman putting 3 beds in one room and 2 in another....$600 for a bed in the 3 bed room and $650 for a bed in the 2 bed room. imagine working a full time job and paying $600+ per month for a room you share with 1-2 other people...and kitchen/living room with 5-6 people.
post 1704614891 08-05-2024, 01:08 AM
-
#9
  1. LargePeter
  2. Fuck off, Lahey!
  1. LargePeter
  2. Fuck off, Lahey!
  3. Join Date: Aug 2011
  4. Location: Kuntstralia, Australia
  5. Posts: 41,446
  6. Subscribers: 5
  7. Rep Power: 572509
Originally Posted By MiscMathematician⏩
joe and sally, newlyweds buying a 600k house on a 150k combined income will be house poor and miserable. but theyll do it. the sense of owning a home is paramount to them, it's their dream.

whereas 2 generations ago, they had their pick of houses larger than needed for around a years salary. they could save half their income and still go on vacations. and also, only one of them worked and could also afford a couple kids.
Fark, I can't imagine living in a home where the total income is $150k, let alone my own personal income.
RAW DOG CREW LIEUTENANT

ALL ROADS LEAD TO MENTZER

President Donald J Trump Crew
Steroids Crew
Growth Hormone Crew
Miscers Who Lift Crew
Robert Pickton Hooker Disposal Crew
Mustang Crew
No Alcohol Crew

Gay Phaggot Crew:
Papi Cholo
post 1704614941 08-05-2024, 01:10 AM
-
#10
  1. MiscMathematician
  2. High Calorie Human
  1. MiscMathematician
  2. High Calorie Human
  3. Join Date: May 2006
  4. Posts: 6,650
  5. Rep Power: 212439
Originally Posted By LargePeter⏩
Fark, I can't imagine living in a home where the total income is $150k, let alone my own personal income.
USA dollars
post 1704615001 08-05-2024, 01:15 AM
-
#11
  1. r32gojirra
  2. Registered NEET
  1. r32gojirra
  2. Registered NEET
  3. Join Date: Feb 2013
  4. Location: East Coast, Australia
  5. Posts: 39,473
  6. Subscribers: 6
  7. Rep Power: 592342
Originally Posted By MiscMathematician⏩
USA dollars
If we converted our household income to USD it would still be in the 7 figures

After tax

Unfortunately, given a choice, nobody wants to live in a dystopian third world chithole like cuckmerica
post 1704615111 08-05-2024, 01:18 AM
-
#12
  1. LargePeter
  2. Fuck off, Lahey!
  1. LargePeter
  2. Fuck off, Lahey!
  3. Join Date: Aug 2011
  4. Location: Kuntstralia, Australia
  5. Posts: 41,446
  6. Subscribers: 5
  7. Rep Power: 572509
Originally Posted By MiscMathematician⏩
USA dollars
95k - still wouldn't
RAW DOG CREW LIEUTENANT

ALL ROADS LEAD TO MENTZER

President Donald J Trump Crew
Steroids Crew
Growth Hormone Crew
Miscers Who Lift Crew
Robert Pickton Hooker Disposal Crew
Mustang Crew
No Alcohol Crew

Gay Phaggot Crew:
Papi Cholo
post 1704615171 08-05-2024, 01:20 AM
-
#13
  1. MiscMathematician
  2. High Calorie Human
  1. MiscMathematician
  2. High Calorie Human
  3. Join Date: May 2006
  4. Posts: 6,650
  5. Rep Power: 212439
Originally Posted By r32gojirra⏩
If we converted our household income to USD it would still be in the 7 figures

After tax

Unfortunately, given a choice, nobody wants to live in a dystopian third world chithole like cuckmerica
realistically two average 20 somethings just starting out are not making 250k AUD combined
post 1704615201 08-05-2024, 01:21 AM
-
#14
  1. MiscMathematician
  2. High Calorie Human
  1. MiscMathematician
  2. High Calorie Human
  3. Join Date: May 2006
  4. Posts: 6,650
  5. Rep Power: 212439
Originally Posted By LargePeter⏩
95k - still wouldn't
no 150k USD -> 240k AUD
post 1704615371 08-05-2024, 01:30 AM
-
#15
  1. LargePeter
  2. Fuck off, Lahey!
  1. LargePeter
  2. Fuck off, Lahey!
  3. Join Date: Aug 2011
  4. Location: Kuntstralia, Australia
  5. Posts: 41,446
  6. Subscribers: 5
  7. Rep Power: 572509
Originally Posted By MiscMathematician⏩
no 150k USD -> 240k AUD
$150k AUD is $95k USD

And I'm still above $240k USD
RAW DOG CREW LIEUTENANT

ALL ROADS LEAD TO MENTZER

President Donald J Trump Crew
Steroids Crew
Growth Hormone Crew
Miscers Who Lift Crew
Robert Pickton Hooker Disposal Crew
Mustang Crew
No Alcohol Crew

Gay Phaggot Crew:
Papi Cholo
post 1704615501 08-05-2024, 01:39 AM
-
#16
  1. aal04
  2. Registered User
  1. aal04
  2. Registered User
  3. Join Date: Feb 2011
  4. Age: 47
  5. Posts: 11,618
  6. Rep Power: 47033
Originally Posted By r32gojirra⏩
Short answer: they won’t

That’s the whole plan you will own nothing and be happy

I’m already scoping out a block big enough for a duplex (might need a triplex lol) to gift each of my sons a house outright.

I may need to put it into a trust or something to keep it out of reach of gold diggers but whatever happens I can’t have them wageslaving for 50 fukkin years to afford a 3x2 in Strathfield or some chit
I sold my 2 bedder in strathfield ~10 years ago. bought for ~450k, sold for ~900k 5 years later. Prolly worth a lot more now (greater than duplex in most suburbs)

Strathfield is great, possibly best suburb in Sydney. best schools, best train station, best parks.

And lmao at buying a new dev these days. In for a schmozzling.
post 1704615621 08-05-2024, 01:49 AM
-
#17
  1. MiscMathematician
  2. High Calorie Human
  1. MiscMathematician
  2. High Calorie Human
  3. Join Date: May 2006
  4. Posts: 6,650
  5. Rep Power: 212439
Originally Posted By LargePeter⏩
$150k AUD is $95k USD

And I'm still above $240k USD
thats great for you. but what i was saying was an average "nice" house for a family in the us is around 650k USD (1 million AUD). a lucky young couple (say nurse, professor) might be making around 160-200k USD combined. they're content to buy a house over 3-4x their combined salary.

30 years ago a man could easily make 40-50k/yr and the house cost $50k. my mom bought her 2400 sqft house for 44k 40 years ago, and made 45k as a nurse.
post 1704615761 08-05-2024, 01:57 AM
-
#18
  1. r32gojirra
  2. Registered NEET
  1. r32gojirra
  2. Registered NEET
  3. Join Date: Feb 2013
  4. Location: East Coast, Australia
  5. Posts: 39,473
  6. Subscribers: 6
  7. Rep Power: 592342
Originally Posted By aal04⏩
And lmao at buying a new dev these days. In for a schmozzling.
Yep

Construction costs are out of hand

Luckily I’m building and selling new dev, not buying.

No way of getting around buying the land though. Figure I’d better land bank for the boys now, in 18 years I may not be able to afford it
Quick Navigation Top Misc
Bookmarks
Digg.com
Digg
del.icio.us
del.icio.us
Stumbleupon.com
StumbleUpon
Google.com
Google
Facebook.com
Facebook
Posting Permissions
  1. You may not post new threads
  2. You may not post replies
  3. You may not post attachments
  4. You may not edit your posts