Baby boomers restricting the " Me Me Me " generation from buying a house ??
Weedy Pigeon said
04:05 PM Jun 13, 2013
Anyone noticed the flurry of articles in the media about BB's and SMSF people buying up all the houses? Apparently this is one of the reasons given by FHB for house prices staying so high.
I don't know all that many BB who finished work with enough cash to go out and have a real impact on the housing market. After a working life spent as a wage earner in a trade and bits and pieces of casual work I retired with just enough cash and super to own my house and car etc. My son blames all the problems on the BB generation, forgetting of course his house is worth twice what mine is and has bought and sold 7 properties by age 37. Not forgetting the cars 4wds etc as well.
I'm not having a whinge, just can't see how BB's can affect the housing price.
Maybe small business owners who sold their assets realised enough cash to buy extra properties.
jules47 said
04:27 PM Jun 13, 2013
Weedy Pigeon wrote:
Anyone noticed the flurry of articles in the media about BB's and SMSF people buying up all the houses? Apparently this is one of the reasons given by FHB for house prices staying so high.
I don't know all that many BB who finished work with enough cash to go out and have a real impact on the housing market. After a working life spent as a wage earner in a trade and bits and pieces of casual work I retired with just enough cash and super to own my house and car etc. My son blames all the problems on the BB generation, forgetting of course his house is worth twice what mine is and has bought and sold 7 properties by age 37. Not forgetting the cars 4wds etc as well.
I'm not having a whinge, just can't see how BB's can affect the housing price.
Maybe small business owners who sold their assets realised enough cash to buy extra properties.
SMSFFHB
What do these abbreviations stand for please?
Weedy Pigeon said
04:59 PM Jun 13, 2013
SMSF = Self Managed Superannuation Fund Apparently, rather than investing in shares, those with SMSF buy properties and rent them out.
FHB = First Home Buyers. All of whom are entitled to the grants from various state governments to prop up the housing industry.
jules47 said
05:08 PM Jun 13, 2013
Thanks - makes sense now!
Grams said
08:32 PM Jun 13, 2013
We are doing our home up to sell, it is a four bedroom transportable, with 2 bathrooms, fully carpeted, built in wardrobes, tinted windows, ducted reverse cycle aircon, and a large built in cupboard in the hallway and lounge. The cost to us 13 years ago $34,000, $9,500 to transport it to our block. We also bought a 2 room sleep out for the backyard, cost $1,500. So you can get a really nice house for a cheap price, or you could...
Now we are selling it as it is too big for us, we are looking at another cheap 3 bedroom house, near our daughters place, in fact it's about two houses down. So as Baby Boomers we are selling one and buying one...so we evened it out. We weren't going to buy, we were just going to rent, but we can buy and our mortgage will be less than half of the rent of a house. But it's going to be our retirement home.
Edited to add: we have a dishwasher, solar panels and solar hot water. It has all the mod cons you could want. I don't think the house we want to buy has room for them, but that's ok, as we don't have as many dishes now as we used to...lol
-- Edited by Grams on Friday 14th of June 2013 11:26:23 AM
-- Edited by Grams on Friday 14th of June 2013 11:27:08 AM
justcruisin01 said
08:38 PM Jun 13, 2013
Well maybe if they were to settle for something less than a two story mansion for their first home they would be in with a chance.
Too many want to start way beyond something that we were never able to even end up with.
JC
jules47 said
09:42 PM Jun 13, 2013
Total agreement there JC - they want at least four bedrooms, two bathrooms, fully carpeted, lush furniture, dishwasher etc., lush landscaping and two cars, and two kids!!! We started with a 12 square house, three bedroom, one bathroom, bare boards that we covered with seagrass matting, window coverings were basic holland blinds, and bare globes in the light sockets - gradually did some improvements - still ended up with a three bed, one bath house - though I did have a dishwasher!!!!!!
barina said
09:51 PM Jun 13, 2013
jules47 wrote:
Total agreement there JC - they want at least four bedrooms, two bathrooms, fully carpeted, lush furniture, dishwasher etc., lush landscaping and two cars, and two kids!!! We started with a 12 square house, three bedroom, one bathroom, bare boards that we covered with seagrass matting, window coverings were basic holland blinds, and bare globes in the light sockets - gradually did some improvements - still ended up with a three bed, one bath house - though I did have a dishwasher!!!!!!
McMansions they call them here a lot of the estates I call Coronation St 1 up 1 down...also ducted heated and aircon that they simply cannot live without, costs them a fortune run. I had a new home moved in the day I was due with first bare boards, no curtains for 6 mths and then I made them all. carpet came 8 mths later never had aircon, and just a normal useless space heater, no concrete outside, no clothes line all this in a satellite city....... but guess what I survived...what doesn't break you makes you stronger......
jules47 said
12:05 AM Jun 14, 2013
Yep - but didn't we love our homes back then? So much fun doing your own yard and garden - and when you got something new for the house, it was so exciting!
Gerty Dancer said
12:23 AM Jun 14, 2013
jules47 wrote:
Total agreement there JC - they want at least four bedrooms, two bathrooms, fully carpeted, lush furniture, dishwasher etc., lush landscaping and two cars, and two kids!!! We started with a 12 square house, three bedroom, one bathroom, bare boards that we covered with seagrass matting, window coverings were basic holland blinds, and bare globes in the light sockets - gradually did some improvements - still ended up with a three bed, one bath house - though I did have a dishwasher!!!!!!
Yep, that's it exactly! And I still don't have a dishwasher, I am it!
My kids homes are mansions compared the homes they grew up in ...we moved often, being Army, but the old married quarters were very basic. But then the farmhouse I grew up in was even more basic, with an outhouse.
GaryKelly said
12:28 AM Jun 14, 2013
Three new things arrived for my "house" today, and I feel like a kid at Christmas - Coleman folding camp oven, piezo gas lighter, and 2 Vietnamese drip coffee makers. AGM battery arrives next week.
jules47 said
01:20 AM Jun 14, 2013
Luxury itself, Gary - woohoo!!!! Two drip coffee makers!!!!!! Expecting lots of visitors for coffee??
So true. Our eldest just had a four bedroom "macmansion" built complete with media room, four bathrooms, butler's pantry (but no butler!). It's all about having it now. This generation doesn't understand that some things are worth waiting for.
The dog lady said
04:03 AM Jun 14, 2013
I guess I'm lucky because my son has never complained, and in fact was grateful to be able to build himself a workshop at the other end of my property and move into the "liveable shed" when the GFC + divorce nearly bankrupted him. In return he helps me out now that I've retired, and does the "heavy" jobs for me at my house. And I get to see my granddaughter whenever I want (and occasionally when I don't want). But then, I did my best (all those years ago when he was a teenager) to make him see that life doesn't owe him a free ride. He had to pay board when he started working, and pay his own bills. (Yeah, I've always been a hard bitch) But I reckon all those 30-somethings who complain about their parents while still living at home at said parents' expense should get their marching orders. How many of you who are over 60 now could get away with living off their parents once they left school?
woosy said
06:14 PM Jun 14, 2013
Our home 2 bedroom no dish washer no air con but a place to come back
to after spending our time in the big play ground called oz we love our home
and garden but only to come back to O.A.P.
neilnruth said
09:00 PM Jun 14, 2013
It seems the Baby Boomers are getting the blame for a few things lately. It's the Baby Boomers though who are looking after their elderly parents because they are still alive. I wonder if the next generation will look after their Baby Boomer parents when they get old or will they be too busy working, still paying off their big mortgages?
PS Our first home was a furnished 2 bedroom rental which we paid $17/week for and hubby only got $25/week allowance.
Our first house purchase was again a 2 BR house that cost $30K - and we never got to live in it - but it did give us some equity when we finally were able to buy when in our 50's!! And our furniture was always second hand.
-- Edited by neilnruth on Friday 14th of June 2013 09:03:35 PM
the rocket said
11:05 PM Jun 16, 2013
don't know anyone, baby boomer or not that has the luxury of more than one home.
neilnruth said
04:24 AM Jun 17, 2013
Who said anything about owning more than one home?
Anyone noticed the flurry of articles in the media about BB's and SMSF people buying up all the houses? Apparently this is one of the reasons given by FHB for house prices staying so high.
I don't know all that many BB who finished work with enough cash to go out and have a real impact on the housing market. After a working life spent as a wage earner in a trade and bits and pieces of casual work I retired with just enough cash and super to own my house and car etc. My son blames all the problems on the BB generation, forgetting of course his house is worth twice what mine is and has bought and sold 7 properties by age 37. Not forgetting the cars 4wds etc as well.
I'm not having a whinge, just can't see how BB's can affect the housing price.
Maybe small business owners who sold their assets realised enough cash to buy extra properties.
What do these abbreviations stand for please?
FHB = First Home Buyers. All of whom are entitled to the grants from various state governments to prop up the housing industry.
We are doing our home up to sell, it is a four bedroom transportable, with 2 bathrooms, fully carpeted, built in wardrobes, tinted windows, ducted reverse cycle aircon, and a large built in cupboard in the hallway and lounge. The cost to us 13 years ago $34,000, $9,500 to transport it to our block. We also bought a 2 room sleep out for the backyard, cost $1,500. So you can get a really nice house for a cheap price, or you could...
Now we are selling it as it is too big for us, we are looking at another cheap 3 bedroom house, near our daughters place, in fact it's about two houses down. So as Baby Boomers we are selling one and buying one...so we evened it out. We weren't going to buy, we were just going to rent, but we can buy and our mortgage will be less than half of the rent of a house. But it's going to be our retirement home.
Edited to add: we have a dishwasher, solar panels and solar hot water. It has all the mod cons you could want. I don't think the house we want to buy has room for them, but that's ok, as we don't have as many dishes now as we used to...lol
-- Edited by Grams on Friday 14th of June 2013 11:26:23 AM
-- Edited by Grams on Friday 14th of June 2013 11:27:08 AM
Well maybe if they were to settle for something less than a two story mansion for their first home they would be in with a chance.
Too many want to start way beyond something that we were never able to even end up with.
JC
We started with a 12 square house, three bedroom, one bathroom, bare boards that we covered with seagrass matting, window coverings were basic holland blinds, and bare globes in the light sockets - gradually did some improvements - still ended up with a three bed, one bath house - though I did have a dishwasher!!!!!!
McMansions they call them here a lot of the estates I call Coronation St 1 up 1 down...also ducted heated and aircon that they simply cannot live without, costs them a fortune run. I had a new home moved in the day I was due with first bare boards, no curtains for 6 mths and then I made them all. carpet came 8 mths later never had aircon, and just a normal useless space heater, no concrete outside, no clothes line all this in a satellite city....... but guess what I survived...what doesn't break you makes you stronger......
Yep, that's it exactly! And I still don't have a dishwasher, I am it!
My kids homes are mansions compared the homes they grew up in ...we moved often, being Army, but the old married quarters were very basic. But then the farmhouse I grew up in was even more basic, with an outhouse.
This is part of the real reason for the housing shortage, another is low construction rate.
To blame baby boomers is simplistic and ignorant.
Sorry but this Mac will not deposit a hyperlink on this site.
Cheers
http://blog.rpdata.com/2012/06/302565-reasons-why-demand-for-housing-is-rising/
Here you go Cloak.
So true. Our eldest just had a four bedroom "macmansion" built complete with media room, four bathrooms, butler's pantry (but no butler!). It's all about having it now. This generation doesn't understand that some things are worth waiting for.
I guess I'm lucky because my son has never complained, and in fact was grateful to be able to build himself a workshop at the other end of my property and move into the "liveable shed" when the GFC + divorce nearly bankrupted him. In return he helps me out now that I've retired, and does the "heavy" jobs for me at my house. And I get to see my granddaughter whenever I want (and occasionally when I don't want
). But then, I did my best (all those years ago when he was a teenager) to make him see that life doesn't owe him a free ride. He had to pay board when he started working, and pay his own bills. (Yeah, I've always been a hard bitch
) But I reckon all those 30-somethings who complain about their parents while still living at home at said parents' expense should get their marching orders. How many of you who are over 60 now could get away with living off their parents once they left school?
Our home 2 bedroom no dish washer no air con but a place to come back
to after spending our time in the big play ground called oz
we love our home
and garden but only to come back to O.A.P.
It seems the Baby Boomers are getting the blame for a few things lately. It's the Baby Boomers though who are looking after their elderly parents because they are still alive. I wonder if the next generation will look after their Baby Boomer parents when they get old or will they be too busy working, still paying off their big mortgages?
PS Our first home was a furnished 2 bedroom rental which we paid $17/week for and hubby only got $25/week allowance.
Our first house purchase was again a 2 BR house that cost $30K - and we never got to live in it - but it did give us some equity when we finally were able to buy when in our 50's!! And our furniture was always second hand.
-- Edited by neilnruth on Friday 14th of June 2013 09:03:35 PM
don't know anyone, baby boomer or not that has the luxury of more than one home.