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Generational War In Australia

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Have a look at this lovely piece in the Age. Now, normally the ages and morning herald do not allow comments on property articles, or if they do they close them pretty quick. Must not annoy the advertisers now!

but have look at this beauty

that is the MOST commented article I have seen in over five years of reading the Australian papers. What is interesting is exactly the same boomer counter arguments as we see in the UK. Very interesting.

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Have a look at this lovely piece in the Age. Now, normally the ages and morning herald do not allow comments on property articles, or if they do they close them pretty quick. Must not annoy the advertisers now!

but have look at this beauty

that is the MOST commented article I have seen in over five years of reading the Australian papers. What is interesting is exactly the same boomer counter arguments as we see in the UK. Very interesting.

We are expats and have lived in Norway, Singapore, Paris, Abu Dhabi and Houston(and various other places) We are now in Brisbane. Brisbane is a country town done good. We are paying more for renting here, for less, than we ever have before.

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oops sorry. I meant to rant on the fact that we can't get a small mortgage. That's on another thread, so ignore me. (But yes there is a generational war in Australia.) Homes are twice as much as they should be and few people can afford to buy or rent.

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oops sorry. I meant to rant on the fact that we can't get a small mortgage. That's on another thread, so ignore me. (But yes there is a generational war in Australia.) Homes are twice as much as they should be and few people can afford to buy or rent.

Have to agree about Brisbane, rents are crazy, prices, well you have to smile or cry, Brisbane is a cowboy town, strirup marks all over the place, not all cowboys reside on the prarie..

If this baby blows, there will be one hell of a sh!t sandwich ragarding the banks..

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If this baby blows, there will be one hell of a sh!t sandwich ragarding the banks..

I would hazard a guess that if it nears a 'blowout' they will just wholesale open the doors to Chinese immigrants with their cash.

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I would hazard a guess that if it nears a 'blowout' they will just wholesale open the doors to Chinese immigrants with their cash.

Tinderbox of Chinese...Not sure the blow could be worse, migration of newbies could be worse, this ain't gonna end well.......

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When I was in my twenties it never occurred to me that I was "entitled" to a house, I saw what prices people were asking and I changed my behaviour so that I could afford those prices. The problem with our spotty yoofs is that they`ve been brainwashed by the politicians.

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It is like a 'British' disease isn't it.

The property bubbles have been global but it seems that countries dominated by Brit descendent are desperate to hold on to it.

I would love to make a documentary programme about the affects that BBC and Channel 4 property porn has had not just on the UK market but on the markets in Oz and NZ as well. Those programmes started out taking Brits out to NZ or Oz to buy their dream home...

...and then they started selling/screening those same programmes in those countries and I suspect, IMPO, that they played a part in the locals thinking "Crikey, those Poms are coming and buying up our houses!" and so the evil of property bubbles spread.

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Have a look at this lovely piece in the Age. Now, normally the ages and morning herald do not allow comments on property articles, or if they do they close them pretty quick. Must not annoy the advertisers now!

but have look at this beauty

that is the MOST commented article I have seen in over five years of reading the Australian papers. What is interesting is exactly the same boomer counter arguments as we see in the UK. Very interesting.

Mr Sibley emigrated ?

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When I was in my twenties it never occurred to me that I was "entitled" to a house

Do you know anybody in their 20s now who thinks they are entitled to a house? I don't.

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Have to agree about Brisbane, rents are crazy, prices, well you have to smile or cry, Brisbane is a cowboy town, strirup marks all over the place, not all cowboys reside on the prarie..

If this baby blows, there will be one hell of a sh!t sandwich ragarding the banks..

..the Government and the Banks did it together ....just like the UK in the years leading to 2007....need to bite the bullet soon.... :rolleyes:

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had to look up 'negative gearing' to understand the lunacy of the Australian housing market. It is an eye-opener that 'boomer bashing ' is alive and well and the BTL leeches are using the same arguments as they trot out here. And Australia has 'loads of land' .

their savings accounts interest rates are much much better than ours though ;)

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You've got to hand it to TPTB - managing to engineer property booms in Australia and Canada, the two most sparsely populated developed nations on earth ...

The idea of TPTB is a comfort blanket to those who think this chaos and mismanagement is 'planned'. Actually, it is just human nature and short termism.

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The idea of TPTB is a comfort blanket to those who think this chaos and mismanagement is 'planned'. Actually, it is just human nature and short termism.

Totally correct, this was never engineered here in Oz, the politico's, well they make Brown look bright....The culture here is to work loads of hours, doing very little productive work, get paid for all those hours, then slam dunk 50% net of tax of it down on the mortgage, then............., the weekly fuel bill, McD's, food, a slab of p!ss, and all the insurance cover you could possibly think of to cover any eventuality in life will take up the slack 50% of net pay............till they get paid again....Culture here is nothing like the UK.....

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You've got to hand it to TPTB - managing to engineer property booms in Australia and Canada, the two most sparsely populated developed nations on earth ...

...and previously two of the countries with probably the greatest property rights. Own land:you're free to build a home for you and your family on it.

Now those property rights are long gone. Long since replaced by its not sustainable to build there, its not in keeping with those ugly 70s concrete boxes over there, its not needed, theres not enough parking etc etc and any other excuse the civil servants can think of to deny you your fundamental right to providing yourself with a roof over your head.

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had to look up 'negative gearing' to understand the lunacy of the Australian housing market. It is an eye-opener that 'boomer bashing ' is alive and well and the BTL leeches are using the same arguments as they trot out here. And Australia has 'loads of land' .

their savings accounts interest rates are much much better than ours though ;)

Yep same here ,sounds a bit like a endowment mortgage with a twist at the end

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Yep same here ,sounds a bit like a endowment mortgage with a twist at the end

No, negative gearing basically treats BTL as a form of business activity lumped in with your other income - so if you have a day job earning you 100k, and a BTL that is costing you 25k a year to run (mortgage interest, etc), your taxable income drops to 75k. The more you earn in income from non-BTL sources, the better the tax break.

I could have done this in Oz and bought a BTL easily, but was fundamentally against it as I see it as a socially destructive tax policy.

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He looks like James Blunt.

boomers should come home. Their pensions in GBP are worth half what they were owing to the weak pound. Meanwhile their properties in Australia are in GBP very highly valued.

Except I'm not prepared to take out a mortgage 9 x my gross salary to buy a half decent home that the boomer currently occupies and wants to sell so he can move to cheapo retirement village, Bali, or back to the UK / Spain.

Indeed by renting, being frugal and applying some canny tax planning I can save about the equivalent of £25000 a year towards my retirement / return to the Motherland!

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had to look up 'negative gearing' to understand the lunacy of the Australian housing market. It is an eye-opener that 'boomer bashing ' is alive and well and the BTL leeches are using the same arguments as they trot out here. And Australia has 'loads of land' .

their savings accounts interest rates are much much better than ours though ;)

My Aussie girlfriend has an apartment which is let out. Mortgage, strata fees etc come to much more than the income but hey it is negatively geared which is the name of the game ;)

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I don't see how the property prices in Brisbane can continue... its utterly insane... I moved here after a couple of years in Vancouver and expected the place to be cheaper, boy was I wrong!

It costs me as much to rent in a suburb 8km out of the city than it did to rent a decent apartment in downtown Vancouver!

Sadly I wont be here to watch it all unfold, just been made redundant and had my visa cancelled :( back to the UK for me.. (and to see how much its changed in the 5 years its been since i left)

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I don't see how the property prices in Brisbane can continue... its utterly insane... I moved here after a couple of years in Vancouver and expected the place to be cheaper, boy was I wrong!

It costs me as much to rent in a suburb 8km out of the city than it did to rent a decent apartment in downtown Vancouver!

Sadly I wont be here to watch it all unfold, just been made redundant and had my visa cancelled :( back to the UK for me.. (and to see how much its changed in the 5 years its been since i left)

Sorry to hear that. I suppose one compensation (assuming you have saved some Aussie $) is that the exchange rate is good if going back to blighty - 0.688 £/$. That won't last forever as the $ will likely tank when the iron ore price slumps (which will also affect metallurgical coal) on the back of loads of new production coming on line in West Africa.

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  • 238 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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