quote:
Originally posted by trackers
Quote:
quote:Originally posted by Shrewd Crude
I see your point macdunk...other peoples money or not... it dont matter.. us newbies are priced out of the market, so it doesnt matter where the money came from....
My point is that 1st homebuyers are screwed...(usually the younger ones)
My deposit for a house has gone all into shares... I can afford a deposit, but I cannot afford 15, 20, plus years... or in my example 30 years...
hey Rmb... u raised a good point.... and that is that we are less likely to get 100% capital growth from property than ever before..
our property market is run by foreigners that buy up our houses, push up prices, and yet the new generation coming through are screwed on like 11, 12,13 dollars an hour...
what good can you do with $400 after tax per week... and $512 weekly loan payments is too large even with two flatmates...
so house prices have been rising through more wealthier internationals..who consider our property cheap... cheap for them expensive for us... expensive for us unless you are already on the property wave of course....
Government raised minimum wage last year and in April this year, and propose again next year... this is a clear signal... lower paid jobs are at the lower aged end of the market...
and the youth need all the help they can get if property is their life long debt ridden goal
Hello Shrewd Crude,
I gotta laugh at the irony of it all.. I'm 24 at the mo, bought my house a little over a year ago, just before i turned 23... Same age as you.
The mortgage sucks, I don't feel the repayments really so im lucky, but to see the mortgage only having gone down a few thousand over a year or so is disheartening...
But the thing is... A year ago people were spelling out the doom and gloom, just as badly as they are now... Prices were going up crazy and it was unsustainable! But the 230k house I bought in Chch is now worth just a touch under 300k, so while i missed out picking up a 150k odd house by 9months to a year by succombing to the uncertainty of it all and waiting it out, least I didn't wait and have to pay 300k! If I sold out now I'd get my 2k odd I paid in principal, plus $70,000 (odd) in cold hard cash.
Moral of the story, next year you may have to pay 350k...or 400k... who knows? If you can get in, get in... imo