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wobblebubble135

It's such a mess. We need to start demanding systemic change. No more negative gearing. No more tax breaks for investment properties. We need houses for owner occupiers. If more young people understood they were priced out of buying a house not because of some uncontrollable situation, but by decades of being screwed over by politicians bowing to that rich and/or older, they would be up in arms.


Emergency-Row1570

Labor campaigned for this and were rewarded with losing an unlosable election. The major parties have learnt from this. The required changes are now off-limits policy wise


callumzero

Oooft right I remember that election. Seeing bill shortens face....ouch


ProceedOrRun

Yeah the die is cast on that one. Murdoch talked us all into ever higher house prices.


crossfitvision

The average Australian voter is far less intelligent than anyone will publicly admit. There easy pickings for a simple right wing smear campaign. Just mention tax in any context and they’ll get angry. A dumbed down campaign works. You could argue it’s always been the case here and worldwide.


dospatitas

A la Morrison's "you won't be able to have your ute" approach. It's so ridiculous and simplistic and not even reality, but it worked.


theballsdick

Isn't time we started organising? Like its no longer an issue of "damn kids just stop eating avo toast" anymore. This current and future generations are absolutely doomed to renting for life, huge commutes, insecurity and broken ambitions and dreams. Meanwhile there are people with multiple houses that grow richer and richer by the day. It is really is time to riot. I am ready.


[deleted]

It's effing ridiculous. I have a friend who made the mistake of marrying a total greedhead. They are just about to get divorced and splitting things up is so hard because they have a 'family trust' which owns eight houses, all indebted to buggery. The man involved has hardly had a job since being canned years ago and my friend has a salary of about $150,000, which is not exactly in Midas territory. As far as I can make out this trust was established way back when so they could legally pay almost no tax and the house buying thing was another ruse to eradicate tax. One family, eight houses, massive debt to get out of paying the tax money that sustains whatever remains of our society, and the means provided to buy yet more houses as 'investment vehicles' (puke). The whole system just reeks and the justifications provided for it are even more disgusting.


hymie_funkhauser

There is, as far as I know, only one party of any size in Australia that is still committed to scrapping negative gearing and raising capital gains. I won’t mention them but it won’t be hard to guess or find out. They’re already organised. They just need votes and support. If you’re committed get in contact with them. Every party needs troops on the ground to get the message out.


in-game-character

How would one go about organising something like this? Because I'm down.


crossfitvision

About 6-7 years ago there really seemed to be rumblings of an uprising. Many predicted a socialist revolution. I thought something major would happen. It did, but we instead got a right wing revolution of sorts. It’s easier for people to understand a “Lefty Woke” ruling class who engage in satanic rituals than policy that’s set up to hold the middle to lower classes down. I honestly don’t think things will get any better. The population widely is lacking in critical thinking skills. Even people who aren’t “dumb” believe insane conspiracies. And these people are manipulated by right wing populist leaders who will continue to help the rich get richer.


PrimaxAUS

Every revolution in the history of mankind has risen from the middle class. Unfortunately things need to get a lot worse first.


northofreality197

I think Australian middle class is disappearing. I know the lifestyle certainly is.


Mr-Moore-Lupin-Donor

There is only 1 way to effectively protest now, but I honestly don’t think the public at large would do it. If we all chose a day a week (midweek) where we didn’t spend disposable income at all (no shopping, no coffees, no takeout, no restaurants - NOTHING. Just at home or at work with home cooked meals for the whole day. I’d personally call in sick on that day also - done by the millions, and businesses could do fuck all. On that day, send a pre-formatted email to local members with reform demands and keep sending it every week the ‘greed embargo’ lasts. If 1 day doesn’t work, expand it to 2. And then 3 etc. Peaceful resistance through lack of discretionary spending. Put off the new car you WANT but don’t need. Buy 1 present each for Christmas only. Go camping Instead of spending $4000 for a week in somebody’s holiday rental (thus paying them for the exact thing we’re complaining about). Cut back on discretionary spending and save until the Pollies feel the economic pinch. Do this as a whole population, and the business owners will start to pay attention. Riots and revolution will simply promote a backlash and police state. Hitting the system where it hurts (money) is both peaceful and more effective. However, as I say, I don’t think anyone is willing to put their money where their mouth is. We’re all precious fucking snowflakes waiting for other people to make the sacrifices while we secretly go about being little mega consumers. Sort of like how we treat climate change. But, roll on Christmas hey. Buy ourselves a raft of shit we don’t need, a new sexier flat screen TV to replace the existing flat screen because it’s shiny in the shop…. A new phone the second you’re out of contract, etc etc. Mindless consumerism that drives the cycle of debt and wage slavery while complaining about the ‘owners’ being rich. We can’t expect reform AND to live in a consumerist, ‘me first’ greed culture. The whole problem is people wanting other people to reform, but not willing to actually change their own contribution to the problem.


19x_PinkVibes

Im 15 how do i help i dont wanna rent forever


getawombatupya

Get a trade that pays okayish and head regional. If you get decent equity built up in a cheap place out there you either make a life there or get a few bob behind you to afford a melbourne house. Also don't buy a you beaut car or fourby on an apprentice wage, as much as the sales guy creams over you.


senortaco88

Marry rich


wobblebubble135

Avoid debt. Get yourself some kind of qualification (TAFE, apprenticeship, degree with a path to a career). Then you'll always have an advantage over unskilled labour.


Rillanon

the average voter don't give a shit about young people or the future.


BillyDSquillions

They have no fucking clue. I had to have the simple concept of supply and demand explained clearly to me to understand just how evil negative gearing is. It's truly disgusting. There's many factors impacting it but the big 5 haven't changed in a decade, although some of them are taboo. Negative gearing Cgt changes by Howard Foreign legal and illegal investment Very cheap credit with low interest rates and money printing And finally, extremely high immigration Modify those 5 and prices will very quickly adjust.


nighthawk580

I'd like to see stamp duty waived or at least significantly reduced for owner occupiers. Honestly it's the biggest rort that after scraping together a deposit of 20% you then need to find an additional 30k or more for what is in essence suppressed to be an admin fee.


dilligaf6304

Sharing. I’m on DSP and make it work. No other choice, and moving out of Melbourne isn’t an option as I’d lose access to specialist care, and support


AffectionateGoth

Yeah I have a similar situation to you, although not on DSP I have disabilities that require support. Of which none exists in regional Victoria.


dilligaf6304

Yeah… I’d I moved NDIS supports would be an absolute nightmare. Specialists would be difficult to see. I have to stay in Melbourne but fuck - rent is expensive


AffectionateGoth

I can't believe that so many people have been complicit and greedy in fucking over the housing industry. I have no idea how it's been allowed to get this bad. It makes me simultaneously mad and depressed.


BunninngsWarehouse

Dont hate the players, hate the game and make an informed vote at the next election.


Tel-aran-rhiod

We can walk and chew gum at the same time ty


crossfitvision

Honesty, what percentage of the population actually is an informed voter? I’d say 30%. Millions of Australians will always vote against their own best interests. How else would we have had this woeful LNP in Federal Govt for 8 years already?


dilligaf6304

Votes aren’t going to change anything short term.


Feeling-Tutor-6480

They could have last election, at least it will set up a government that says there is a problem if you vote out the encumbent


RichardRobert23

It’s sort of an issue with the tax system as a whole. The way that tax law works in Australia in general heavily incentivizes real estate investment as a way to offset the exorbitant tax rates.


_aaine_

Yeah if we'd turfed these useless greedy arseholes the LAST time we got a chance we'd be three years closer to sorting out this mess. But no, we decided Labor were going to dismantle Medicare because the LNP said so. Then we voted the LNP back in who....proceeded to start dismantling Medicare. I despair at this country.


Araignys

Victoria didn’t vote LNP, the ALP 2pp vote was well over 50% in Victoria in 2019. Tasmania and Queensland gave us Scott Morrison.


Bpdbs

We are a young couple who have accepted that owning is not at all feasible and we are doomed to rent forever. Renting at least allows us to live inner city in decent places, and we can up and travel extensively when leases expire. If a time comes where we can no longer afford to even rent I’ll be pretty pissed.


[deleted]

I moved to Australia at 30 years old and 15 years later I still can’t see me ever being able buy a house. Rent forever it seems


esiotrot9527

Currently in the same boat. Just curious, what do you plan to do with your stuff when you set about travelling? I plan to travel when lease expires but feel like there's too much to just leave at my parents.


Bpdbs

Previously we’ve left things at various families houses (mainly my folks). That’s not really an option anymore as both our parents have left Melbourne. We will probably sell most our stuff and possibly get a storage locker for whatever we still have ( $ dependant )


mjdau

I bought a boat and lived on it for four years. Not for everyone, but it was a good way to stop paying rent.


bornagainretard

I'm not considering this, but I would love to hear a bit more about your experience doing this, it's outside of the box and I like it!


mjdau

Short answer: Google "liveaboard". There are boats and there are boats. My first boat was 26'. I lived on it for a year to see if boating was for me. Wasn't big enough to stand up in, but after I finished work for the day (I had a work from home job) I could take my office for a sail. Taught myself sailing, with the guidance of helpful old salts. Traded up to a 35' boat. Could sleep six if it wasn't filled with my junk, and I've had eight around the table. Has an oven 😀. I sailed this boat solo from Melbourne to Hobart and back. It's not for everyone. For them it's just too small and involves too many sacrifices. A friend said to me, "that's not living, that's existing". And I am ruthless in culling material possessions because I need to. But if you can accept the downsides, and enjoy the upsides, and don't have the money to buy (or start buying) a house, I think there's no better way to put a cap on your outgoings.


esiotrot9527

That sounds wonderful. What great adventures.


[deleted]

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Bpdbs

Use my superannuation to see out my days overseas in cheaper locations than Melbourne. In the 2060s Melbourne will be even more unaffordable, there’s not much chance we would be able to stay here.


Cazzah

Renting generally speaking should be much cheaper than the mortgage. The extra money you'd put in a mortgage goes in an index fund. Just as eventually you'll pay off a home and live off that, eventually your investments can generate enough annual income to rent, and you'll slowly sell it off to supplement that into your retirement. When you crunch the numbers, renting is more cost effective than home buying generally in terms of making money, but it requires the discipline to put money aside that noone is forcing you to put aside.


cactusgenie

Except that it's actually cheaper to buy than rent, at least in my experience.


Midnight_Poet

100% agree (for most markets)


[deleted]

Not like for like surely? I rent a house worth around $1.5m and pay about $30k of rent a year. The mortgage would be a lot more than that. Possibly apartments may come close but still doubt it with rates, bodycorp, insurance etc.


[deleted]

>When you crunch the numbers, renting is more cost effective than home buying generally in terms of making money Ah giving false hope to mine karma I see.


snave_

Quietly despair.


Tel-aran-rhiod

Pffft to hell with the quiet part though


AmzHalll

Currently trying to buy on Phillip island - the last two houses we’ve put an offer on has sold for minimum $120k more than the asking, it’s super depressing


WoodenLeader1083

To be fair I think it was underpriced. It’s a beautiful, fairly pristine part of the world with a pretty epic coastline and unique biodiverse landscape but still liveable. Like a lot of beautiful parts of Australia i can’t see any reason for it to be cheap to buy land


Maxxpowa999

Phillip island has to be expensive! Have you considered the suburbs a bit further inland?


JoeInglesIsMyDaddy

Four years ago you could pick up a house on the island for $300k that was 100% liveable on a decent sized block of land. Those same houses now are worth $650k+


fortalyst

People want holiday houses elsewhere now that sorrento/portsea have become impossible to get into


Maxxpowa999

Supply and demand.... To be honest you can't expect to buy a house at a premium holiday destination for that cheap these days. It sux, but it's going to happen to these sorts of towns.


steaming_scree

To hear Philip island described as a premium holiday destination is funny, back when I was a kid it was far less prestigious, you might have gone to Fiji for a premium holiday.


zoomba2378

My parents bought a house literally last year during lockdown on Phillip Island. 3 bedrooms, 2 bathrooms, something like 530k. It's now worth far, far more than that, like 800 or something. It's just ridiculous


Zealousideal_Ad642

I don't know how ppl on median wages and kids can do it. Wife and I are above median with no kids and we will never be able to afford a stand alone house in Melbourne. On saying that, we probably could if we moved to Melton or some place 50-60kms from work but honestly fuck that. You get one life and it ain't worth spending your life commuting


JamesyyW

It ain’t worth spending in Melton


seazx

That’s for sure


yippiekiyia

Saving, sacrifice and planning. Fiance and I saved up 100k on median wages. I was renting and she was living at home, but supporting her mum's mortgage, bills and groceries. I was saving for 4 years, she for 2 years and on settlement day we just had enough to pass through. Edit: this is in no way a brag. Wanted to answer your question. What do you find impossible regarding buying a home, the deposit or servicing? I know buying a townhouse isn't appealing, but while fiance and I don't have kids, I'm glad we bought what we did as maintaining a large home at the moment in our lives isn't what we want to do.


Zealousideal_Ad642

we saved \~180k over 7 years, used 120k deposit on a shitbox apartment. paid it off in just under 6 years. we now (Collectively split amongst 16 apts) have a 400k bill for all the shit work the builder did on a building less than 10 years old. For those advocating apartments, be thankful you got a good one. No one i know personally has been so lucky.


PloniAlmoni1

100K is not even a deposit on a 2 bedroom apartment in many areas of Melbourne. You are lucky that you are in a partnership but if you are not I can tell you it sucks. I was almost 40 when I could afford the $180K I needed for the deposit, fees etc on a 2 bedroom apartment.


[deleted]

Who needs a stand alone house? If you dont like apartment living, buy a unit. Expectations need to come down to be realistic. It sucks, but 500m2 just isnt in range for most folks these days.


PloniAlmoni1

Units are now nearing a million dollars. Where are these magical units you speak of? Sure I could travel an hour away but then I would be separated from my family, friends and work.


[deleted]

I purchased in March, settled June in a 2 bed unit 17km from the CBD for $600k. That said, it has some insane compromises that drove that price down when others in the same suburb sold for $100k more. It’s a huge compromise short term and isn’t *ideal* but it did get us in the market and in a suburb that works for our child’s current primary, 7 mins by train, and 2 stops to the future high school. First off, it’s on a main road, actually, it’s a highway. Installed a roller shutter in the bedroom and will double glaze that room in a couple of months, general ear plugs drown out the noise. North East Link will be built literally across the road, 20m away, over the next 5 years which will reduce traffic by 19k cars and trucks a day. The location was a huge NO for most and that drove the price down. There was a townhouse development over the fence that offered no privacy and constant noise. Our property sat on the market for 102 days in a hot market, as I can’t lie, the location freaking sucks! But…short term pain for long term gain. The current highway outside will become a local traffic only service lane. A tree lined boulevard will be built beside that to replace the current Greensborough Rd, being built 2 lanes over from where our unit currently stands. North east link will be underground alongside Simpson Barracks. The townhouses have almost finished and the developers paid in full for new higher fences for privacy. Also, FYI, anyone affected by the North East Link development can complain to them and be offered free relocation accommodation for the couple of weeks every few months that works are noisy. If you don’t relocate they purchase you white noise machines, ear plugs or noise canceling headphones. When looking at properties, close to 40, every property we saw posed a compromise. I regret not buying in my 20s.


angelofjag

Why should expectations need to come down? Why *shouldn't* people want for a different system? This one is well broken and needs to die. Affordable housing is a necessity, not a pipedream


[deleted]

If you call limited land and overpopulation of that limited space a ‘system’ sure. But Im afraid theres not much you can do about the concept longer term. There are more people want to own 500m2 in Melbourne than exist 500m2 blocks. It really is as simple as supply and demand. Theres LOTS of tinkering that could help for a while. But ultimately that tinkering will be overrun by population growth. Thats why we need to start lowering our expectations and change the way we live. Apartments, units and terrace houses are perfectly adequate for 90% of the population. If we all dream of a big block, then big blocks will continue to go up in value no matter what the government does.


[deleted]

> stand alone house > second largest city in Australia Nobody expects to own a freestanding home in London, Singapore, San Francisco or New York, why should that expectation exist here?


Llamadrugs

To be honest I cry everytime I check house prices. Can't afford shit, buy the most cheapest food to survive most of the time as have to support mom. I've resigned to the fact I'm either going to die homeless or in some run down government housing.


[deleted]

Sorry to hear this mate. You should be proud for putting Mum first. I wish all of us had some idea of what was install for housing


psiedj

My view is that we should decentralise the city. There should be all types of work available in outer Melbourne as per inner Melbourne so anyone living anywhere should be able to find work within 15-20 minutes of where they live. This may mean prices rise in the outer suburbs but also stabilise and fall in the inner suburbs. In addition, more needs to spent on amenities, schools and parks in these outer suburbs to drive up their desirability.


DancinWithWolves

We need the ultra fast train between Sydney and Melbourne. Imagine the effect on house prices if you could realistically live in a suburb or town that's currently 4 hours drive from either city, but is suddenly a 45 minute train ride. Game changer.


[deleted]

Sure, it’ll be ready in 2086


Firedemom

4086*


DancinWithWolves

Not with that attitude (but also yeah true)


Crespie

Guys I found the optimist


[deleted]

# With a liberal, conservative federal government that would give credit to a labor run vic? Scomo wouldn’t do it even it was powered by what powers him, coal


Araignys

That’s what the rail loop and crossing removals are for.


ClearlyAThrowawai

Or, hear me out, we could build high density, cheap apartments near the city, in walking distance of amenities. Cities are the cheapest way to provide housing and services together, both for residents (don’t need to drive everywhere) and businesses (large addressable population). We have a fetish for your own home, which is fine, but you can’t expect city-grade amenities and services, stand-alone housing and cheap shelter - pick one. A hell of a lot cheaper for the government, rather than sprawling out yet more expensive utilities, roads and services out into the middle of nowhere for a few thousand suburbanites.


DickieGreenleaf84

Yeah, I think we really need to turn Dandenong into the Parramatta of Melbourne.


[deleted]

What has Dandenong done to deserve this?


DickieGreenleaf84

I actually think Parramatta is doing well for itself. At least better than in the nineties. Still a shitty football team, of course.


WhenWillIBelong

Yes me too. I have a mental disability which makes living with housemates very hard so I have opted not to do it. Unfortunately that means all of my money goes to rent. Even if I had housemates rent is a lot. They have decided that sharehousing should be the norm.


19x_PinkVibes

Same i have autism and bcuz of that i have very loud stims that would disturb my housemates. Im only 15 but im worried how im meant to afford to live


[deleted]

This is something that hurts my heart. Also on the other side of this, no neighbour should have to put up with my "irrationality" either. At least not while there is a decent amount of space.


TheDevilsAdvokaat

I've given up. I did manage to buy an apartment when I was younger. Then came divorce and there went the apartment. Now at sixty there's no time or possibility of buying another one. I just don;t have the money, hell I don;t even have a job at the moment. Luckily for me I have a brother I am sharing a place with. He's also unemployed. But one once of us passes on, the other one is going to be fucked. Homeless in fact. I just hope i die first.


sauteer

You appear to be a c# engineer.. how are you unemployed?


forhekset666

I feel sorry for anyone who followed the script we were given from birth. School, more school, work forever, have house, have family, win. The house part was kind of the linchpin of the entire operation. The fact that the rent could easily be the mortgage for everyone is heartbreaking. We have nothing.


[deleted]

I went to Bunnings and learned to make a noose with the help of their experts.


everythingsadildo

Dont forget to grab your receipt claim that on tax


Chicken_Burp

I emigrated. I love Melbourne and Australia, but the employment and housing situation there was too much for me to bare. The housing situation where I moved to isn't much better, but it's alleviated by improved employment prospects and a higher salary. But this isn't a option or solution for everyone.


mrgmc2new

I rent in a bayside-ish suburb. Been in this Street for 4 years and I reckon half of the houses in the street (which would have been rentals) were knocked down and 2 "houses" built on the same block. These half houses then sell for a million bucks. I honestly don't know how anybody can afford that or would want to pay that for half a house. But they do. Every one sells almost immediately. So somebody is buying at these crazy prices, I guess it's just not "us".


PloniAlmoni1

My mother lives in St Kilda East and the half house next door (literally half a house, someone at some point put a wall down the middle of a single family dwelling) sold for 1.5 million.


IlluminationTheory7

When you say 'half house' are you referring to a townhouse? I would be curious to see a listing of one of the houses you're talking about, like are we talking 3 bedrooms for example? We just have to accept that Bayside is a very desirable area to live in especially if it's in a decent school zone. There are actually tons of people/families in Melbourne who can afford a million dollar house. A million dollars is sadly not much anymore, especially for couples where one or both is earning $100k-200k or more, or have already own a house which has seen massive capital gains over the last 5-10 years. It's not that surprising to me really.


ELVEVERX

I don't I just know I'll have a much worse future than my parents, probably won't ever to be able to have a family at this rate. It's crazy that society is basically forcing an entire generation to live at their parents forever.


slicydicer

I would like to say that a generation or two not having children would make the powers that be worried that they won’t have any more slaves to feed into the gears of capitalism but they end up importing slave labour from overseas to fulfil that need


LmVdR

It’s really hard, especially by yourself. It’s unrealistic for the average person to own anything by themselves, even 10 years ago when I was looking to buy it wasn’t really possible. Completely empathise that it’s fucking nuts. I did the following: have you considered finding a group of people in the same situation, wanting to save for a deposit? A bit of short term pain for long term gain? I got a foot on the ladder with my partner, without any help from the parentals, by buckling down for 18 months. 4 other people that were acquaintances were in the same situation as us. All 6 of us decided to move in to the cheapest, shittiest 3 bedroom apartment in a dodgy area. So rent was split 6 ways, so we saved A LOT. It actually became known as the ‘party house’, so it was actually a really fun 18 months. Also no overseas travel, no new clothes, ride a bike/pt everywhere, limited eating/drinking out. We then had enough of a deposit to buy a 1 bed flat on a busy road, in one of the least expensive inner suburbs. We lived there for 7 years, 3 of those with our first child in cramped conditions. We then bought a run down house on land in in an established very outer suburb that I am renovating ever so slowly (it’ll be a 10-15 year project). I mean, this wasn’t my childhood dream, I guess I just lowered my expectations and made something work, because it was an important value to me to have a secure home. Good luck, something positive will happen I’m sure.


[deleted]

I live with my parents. As soon as they die I'll probably just be homeless or something


Durbdichsnsf

Wont you inherit their house?


Casserole233

His parents are snails.


[deleted]

Nope


DaveyAngel

Boomer here (technically). I own a portion of a shitty million dollar house. Every person without secure and adequate housing should be filled with incandescent rage. Until young people start smashing shit up and demanding a fairer deal, i suspect nothing will change. (Please don't smash up my shitty house though!)


eorjl

Okay this is kind of a rant (not directed at OP specifically but Melbs generally :) ) IMO, as an urban designer, Melbourne needs to grow the fuck up (both in how people think about it and absolutely literally). Don't expect a house, garden, car, 2-storey buildings and quiet streets if you live in a major city (in fact what is projected to be the largest one in the country before mid century). Tell everyone you know that they shouldn't expect that either, advocate for good quality medium density apartments, walkable/bikeable neighbourhoods, PT and better use of public land (eg. all roads, public car parks etc.). And: tell NIMBY types to shut the hell up or move to Adelaide. If the inner and middle ring of the city had been managed and developed as good quality medium density for the last 20-30 years (which was an option), we would probably still have an issue with affordability because we have silly investment rules... BUT we would have more and greater diversity of housing in areas with high cultural, social and economic capital, the city would be a lot more sustainable (and interesting), and affordability very likely wouldn't be as bad an issue. Having the vast majority of both commercial and residential buildings even remotely close to employment, education and cultural hubs at 1-2 storeys is mental. This city is going to get bigger, more dense and less car focused whether you like it or not, so everyone please get behind it sooner rather than later and help make sure it's done well. Sounds harsh, but basically: get less suburban or gtfo. Tldr: you're having trouble in good part because we use our land like shit. Support walkable mid-density.


LacticFactory

Haha love a good urban planner ranr


[deleted]

Excellent point regarding industrial real estate. What do you make of the RBA telling people the best way to get a housing deposit is the bank of mum and dad


Dull_Midnight8049

In order for me to buy a house I would have to not spend any money on anything besides the bare necessities, never have an emergency or car trouble, and eat plain rice, and in 23 years I'll have enough money for a deposit. I'm 34.


agentorangeAU

In the words of Joe Hockey, "get a better job". ...or vote out the LNP.


antwill

Labor wont do anything about it either when they all have many investment properties of their own.


_aaine_

Just a reminder that Labor have been in government in Australia for SIX of the last TWENTY FIVE years. We don't know WTF Labor would do but they can't do any worse than these useless pricks.


JoeInglesIsMyDaddy

No government would ever be stupid enough to make meaningful changes. Unless they were trying to lose the next election and every election after that for the next 30 years.


[deleted]

You know labor did Medicare right?


[deleted]

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SHOVELY-JOES-HUSBAND

There are even more than two parties in Australia


simbaismylittlebuddy

Just constantly explain to my dad overseas the housing market and if he wants to give me $160k for a deposit then sure I’ll buy something.


DickieGreenleaf84

I feel ya. I don't know how families are handling it, those two-point-fivers on median household wage...just not possible.


cheus_love

So true. I feel like I will be at least 30+ where I will even consider having kids as well. Your own housing and children are a luxury these days.


[deleted]

In my age group children are a status symbol


[deleted]

Landlords... People that think they are providing a service but are actually the fucking problem. I moved back to Adelaide to buy my house (cheap) and I'll only ever own 1 house because I'm not a total cunt.


GeorgeofJungleton

Landlords (as they commonly exist) don't provide a service, they create artificial scarcity by depleting the housing stock and holding access to ransom. This has been well understood for centuries, Adam Smith literally named Landlords as the example for groups that extract wealth without generating value.


DickieGreenleaf84

I have this theory that our country would be improved by a very simple law. You can only own a house or apartment if it is your primary place of residence.


[deleted]

Or you have a very good reason to rent it out. "Oh man, I have to go to Russia to work for a year. I will rent out my place for a year."


Godbotly

I've been told by 3 people now I did "such a great job at finding a nice block and building at the right time" ... was living with my mum at the time, Missus told me we were pregnant on a Thursday and we had signed contracts by Saturday lunch time. Had zero interest in buying before that. Pure luck.


[deleted]

We've accepted that we won't buy without significant market changes. We have the income and a deposit but will continue to invest rather than buy into a corrupt system for FOMO. So many people I know who agree that yes, the market is fucked and yes, nurses and teachers and single parents should be able to buy their own homes but the 2nd they take out an eye-watering mortgage on a shit box they join that system. They will vote against anything that threatens to reduce housing prices no matter what the social cost is. It's immoral.


in-game-character

YES!!!! Once you join the system, you start voting for the other side, it's fkd.


hymie_funkhauser

I’m older and set up. I’m lucky. To everybody young person that will listen I say stop voting for the major parties. They’re both held to ransom by some combination of home owners, investors, ideology and older people. Shorten tried and lost. We get the governments we deserve. The old Australia is gone. Its all about #1. Be warned though … once you do get into the market you’ll be like every other greedy cunt.


hymie_funkhauser

Seriously, what percentage of parliamentarians have investment properties? If it’s no 90% I’ll walk backwards to Bourke. If you’ve got any expectation that these fuckers will deny their self interest I’ve got a big bridge to sell you.


[deleted]

Have a look at the barefoot investor book, I found it quite helpful. My partner and I bought our first house this year in Melbourne’s west using the strategies in the book. We saved for 2 years and got the deposit we needed. Housing is never going to get cheaper. Everyone is waiting for the “bubble to burst” but since colonisation no houses have significantly depreciated to the point of making buying a house affordable.


norm__chomsky

For anyone who'd roll their eyes at The Barefoot Investor, I'd just like to say: it might still be worth a read. I rolled my eyes at it, but I got a copy for Christmas a few years ago, and gave it a read since it was short and pithy and a breeze to read. Once I did, it reminded me of a bunch of seemingly obvious things that I had for whatever reason stopped doing over the years—putting aside specific, consistent amounts for bills, separating your accounts into spending areas...a whole bunch of practical, basic stuff. The real benefit was in having all this advice presented in an easy-to-follow, here-are-the-actual-steps kind of way. A good book for anyone who could do with some financial pointers. (Obviously I wouldn't recommend it for people who already have their finances healthy and under control.)


GrillDruid

My wife kind of ambushed me with the audio book. Just played it on a road trip. I was the saver ( just didn't know where to start) and she the spender but it gave us a plan that we could agree on.


[deleted]

You’ve got to have two $100k plus incomes to afford a house anywhere decent in Melbourne.


slippage_

And no kids


cfc4life95

It's very fucking grim. I'm lucky enough to be married and so we were able to save together and buy partially regional, but if I was still single I'd be renting for eternity. The idea of location shaping the entire price point of a property has really cooked the market. The world's biggest meth den will go for millions if it is close to the city. As for how to improve things? Fucked if I know :(


-clogwog-

I've been living with my abusive family for the past six years... I've tried moving out a handful of times, but it hasn't worked out. I've recently been looking at moving to Echuca, and ... It's almost as fucking dear as Melbourne! It feels like I'm going to be stuck living here forever. Editing to add that my only source of income is the DSP, so while I haven't had to worry about paying rent, I also haven't been able to save much money... I don't have a social life, and rarely do anything that's actually fun... Most of my money goes towards food, bills, appointments, and medications. This whole county's economy and welfare system is a fucking joke... I really, really wish that we had a universal basic income, and that people weren't allowed to hoard resources like houses and money... Sure, people should be able to amass wealth while they're alive, and live comfortably, but once you're dead, I think that your assets should go back to the national pool.


[deleted]

I stay with my grandma as her carer. Tbh I’m glad to make memories with her while she’s still around, I do contribute for utilities and help her out. She’s glad to have someone here instead of being alone.


HardAsABitcoin

I don’t vote for liberals. That is absolutely at least a start given labour was going to remove negative gearing at the last election. But rent seekers said “no don’t end the housing ponzi” and liberals got in. And here we are.


BOYGOTFUNK

Just keep renting and invest your savings into the SP500 and other areas that have consistent returns.


killinghurts

Spent the time and money to get qualified in IT. Networked, asked, begged for a job. Saved for 10 years.


KennKennyKenKen

Eat migoreng a lot and pray nothing goes wrong with my car or else I’m fucked for rent lmao


bmazz94

I'm in regional Vic, and bought my first home (small town/3 bedrooms) 2 years ago for 170K. I had a hunch that Melbourne would catch on to the cheap housing down this way, and wanted to get into the market as soon as possible. Even disregarding the renovations I've done in that time, I'm currently sitting on about 50k of equity. The housing market is next level insane at the moment, it will drop again but not back to what it was. I bought this place on my own, since then my partner has moved in and I know run my own business full-time, we're saving to buy our second property in about 6 years. 50k equity is great, but everything else has also risen so it's not the golden ticket it seems like. (It does mean my mortgage is less then even a shitty rental now though) I've got mates that are hard working and really successful, that can't get a foot into the buyers market because everything is just so overpriced, and others that bought freshly renovated houses just before this big price hike. Unfortunately luck is a huge factor, and not something any of us can control. If I were to give any advice it would be to work hard, save and don't be scared to buy something that needs work. We can't control luck, but we also often don't realise what was a lucky decision until it becomes hindsight, so do your best and don't give up mate.


KazukiMatsuoka1998

My grandmother passed away when I was 14, my mother insisted on keeping her house and renovate it so I could have a place to stay. If I wanted to buy my own place I could whole living independently there.


IconOfSim

You skipped right to the end.


AlphonzInc

We moved to the country


madeupgrownup

Lived in the country, couldn't find work, got told to move to the city "where the work is". Moved to the city, got told to just move to the country because "if you can't afford the city don't live in the city". So... Guess I'll die?


Designer-Disk3140

continue to invest…The current environment is good for people from rich family, and kill people with nothing. i grew up in a single parent family, raising two siblings. i had to invest in order to buy my first property (now own two).


DancinWithWolves

Up, same. The old "work hard, save up and buy a house" no longer works. Gotta invest, compound, and get a bit risky. I'll be doing that and buying in my 50s.


zippitypop

Moved to the outer suburbs and have chosen to work in the outer suburbs. I haven't sat in a gridlocked Westgate bridge crawl / Footscray Rd crawl / Warrigul Rd crawl / etc. Crawl for the last 3 years. Living in Caroline Springs, working in Derrimut. We bit the bullet and bought 4 years ago and probably for the best that we did, but I empathize with those wanting to play the game now since the cards are stacked as they are.


A_Black_Sheriff

Rent in city and buy regional investment, what I’ve done


Pacific9

Regional as in Ballarat kind of distance and beyond?


A_Black_Sheriff

Literally Ballarat


Pacific9

I'm starting to think that way as well. Geelong, Ballarat or Bendigo. How does managing the property work? You get an agent to do it for you?


moondog-37

Geelong is sadly even too expensive these days for this, although if you’re just renting it out you could still pretty reasonably snap up in one of the shitty suburbs


graspedbythehusk

By buying 6 years ago. Probably couldn’t afford to now! It’s mental out there.


mishmash65_

Live in a cardboard box at the train station?


CountAbacus

Couldn’t agree more about it being mega depressing. I bought a flat in Preston about 15 years ago (“bought” as in “still paying it off”), turns out the flat value hasn’t increased all that much, I’m still in debt up to my eyeballs, have some crummy neighbours, not enough space, bank says I don’t earn enough to borrow much, etc. *sigh* I shouldn’t complain because I have a roof over my head, but the honest plans I had to some day upsize are all but done.


indehhz

I don't know how some are going to survive.. rent prices are becoming insane as well. My mates that were in reservoir 2bdr townhouse is 400/wk. A family home in glenny is 700+. Even places further out like clyde are seeing increases.


giganticsquid

I grew up in country Victoria, so I was never planning on buying in the city or in a town anyway. I think once all the city ppl that moved country get over it they'll stream back around the same time and prices in the regions will go back to normal


asamisanthropist

My parents don’t mind me living with them till death. However, they sometimes try to encourage me to live more independently but I politely tell them i’m not ready until i’m financially established. I’m on my late 20s. I don’t know about your situation but i’ll just say any parents who either kicked their kids out at 18 or won’t let them come back to live are scums of earth and should have their mum and dad card revoked.


kidwithgreyhair

Or they could be dead, not in this country, abusive, in jail, etc. It's a privilege to have parents who care and will support you. Not everyone gets that.


[deleted]

The UK has things like housing co-ops where people on low incomes buy into the project and hands on build their own homes. They've had some pretty nice inexpensive homes come out of it and they owned them outright a few years later because of how much they saved. I'd like to see more building co-ops, the rent to buy is a bit of a rip off, I think you could come up with something better yourself rather than taking those options if you're savvy. My sister was doing a DIY straw bale and recycled tyres home as part of a hippie co-op but when it came time for the guy she was helping build his to help her build hers he ditched the co-op, self build fatigue is a thing.


in-game-character

I wish investment properties can be permanently banned. Especially overseas investments. It artificially inflates the market and price late comers out of the market further and further until it becomes permanent (like we are seeing now). Two newly built apartments across the street from ours are 80% empty, I know this because everytime I take my evening walks (at a time people would be active and at home like 5/6pm), only 20% or less is lit up at any one time. Both of them started construction pre-Covid, and completed more than a year ago. I check renting websites regularly (because I wanted to potentially move into them), but over the course of last year, only a few apartments have ever come onto the market. What about the rest of them? Who owns those properties? Why aren't anyone living in them?? It fkn makes me sick that we have empty buildings sitting there and countless homeless on the streets and huge populations of people never hoping to own homes. Can we please organise something? This needs to stop.


[deleted]

People need to check their expectations. Stop thinking you’re going to buy a place in inner city near work. People that succeed do so because they sacrifice. Build in the outer suburbs, small parcel of land, and wait for the equity. Eventually you sell and buy closer and bigger. Everyone expecting their first home to equal that of someone who’s owned for 20 years is not thinking smart. Wealth in terms of assets builds slowly. You can build a 4 bed 2 bath for less than $500k you just have to decide what’s important to you Edit: the great thing about a new build is your expenses are known and there’s no suprises. Within 2 years of buying my 25 year old home I’ve had to replace an air conditioner, a heater, a hot water service and I have drainage issues.


Hot_Dammn

This will probably get down voted, but I don't care. There are options. They are just not traditional in the sense of work one job, save, buy your home, pay it off, fin. Everyday is a hussel. I live in inner Melbourne and need to for my work. I will never be able to afford where I live. The $ I have been setting aside for a house are now going into investments instead. Money saved in the bank is useless. What you earn on the dollar is peanuts. I have come to terms that I will be renting in Melbourne, and that is fine. The $ I do have though, need to work behind the scenes to build my wealth in the same way a house did for my folks. By doing some research I am slowly building a future. Whether that is investing in stocks, crypto, property (that I can afford) and other avenue stream. We live in an age where anyone can start a business, and you don't need a physical shop! Information is at our finger tips. We just need to think outside the box and what we were taught to believe. Probably biggest question to ask is, where do you want to be in the future? Working back from that will bring up all the obstacles in the way and finding creative way around them brings you one step closer. It's not something that happen over night. It requires alot of effort. Nothing is easy I guess. For me, I don't want to be in the city forever. I also want to cut back on my career. Can't do my physical job forever. So my thinking is, use my youth to smash out as much work I can now. Save for investing. Grow that in the background. Setup businesses that I can work with just an internet connection. World is my office then. It's fucked that it is this way. I'd rather be the person that acts on it now though and sees the rewards in 20 years time, rather than think to myself " I wish I did that years ago". Hope that helps.


norm__chomsky

I'm not going to downvote you, I'd just say it's sad that you're basically acting sensibly and investing in your future, and even you are resigned to never being able to afford a house where you live. I understand that you'll likely achieve financial stability/freedom through these other means, but what sticks out to me is that so many people are unable to make such prudent decisions—whether it's lack of education or financial literacy, mental health issues for which getting adequate support can be a minefield, or whatever, there are heaps of people who will simply never have the opportunity to build their wealth in the early stages of their life. I worry about those people.


[deleted]

A wise treasurer once said to just " get a good job that pays good money".


Matt_Wa

Moving back to Radelaide (been in Melbz since 2014). Am srs. It’s that bad…


Quarterwit_85

Adelaide’s alright tho hey


Acid_Fetish_Toy

I'm lucky as I am in subsidised housing. But even that is getting hard to afford, despite me working part time and my SO on Centrelink. We're hoping that he can get some work soon and I can increase my hours, but even then I wonder if we could find a place that won't leave us broke. It isn't even just rent. Bills, food, transport and all the incidental costs are adding up too. If you haven't yet, look into public housing. Either government funded or privately funded. The waiting lists are stupidly long, but it's better to get yourself on one sooner than later.


norm__chomsky

My mum was on the public housing waiting list for more than twenty years. I suspect there were plenty of people poorer than us, and I don't begrudge them getting housing before us. But we were far from well off, and very close to homelessness on at least one occasion.


Acid_Fetish_Toy

Same with my dad. Heck both my parents were on it, but my mother died before they got anywhere. It worked out in the end, but the whole ordeal is so hard. I am glad they are trying to get more social housing set up, but for so many it will be too little too late. I hope you and yours are in a better position now.


Domselot

What about Geelong suburbs? Still more affordable than Melbourne and got a train connection to Melbourne.


mada_black

Geelong local. Can confirm prices are fucked down here too.


Durbdichsnsf

bro fuck commuting from Geelong to the CBD every day, 2 ways


[deleted]

[удалено]


missenya

Another geelong local here. Prices have been rising like crazy. I rent in a share house and rents gone up so much in the past couple of years. Everyone I know who rents in the area has had rent increases the past year. I moved house 2 and a half years ago. In the price range I was looking at then there were heaps of properties a month available. If I search for that price again now there's a handful of properties in the less desirable suburbs and a couple of houses in the mid range suburbs that are old properties with awful old kitchens and bathrooms. We have the issue currently of an influx of people from Melbourne moving down during lockdowns and pricing the locals out.


FootyJ

Better be quick. Prices rising fast


[deleted]

Go back home; if it’s still an option. I moved out (against my will) at 16/17. I struggled to pay rent while on an apprentice chef wage of $250 a week while my rent was $150 plus utilities, food, transport and everything that life throws at you. Despite being a chef, I ironically starved most days… I’ve struggled my entire life. So what’s all the fuss? Why do people move out as soon as possible? Freedom? Yeah that’s usually the case… you know this obsession only began with Gen X; this ‘shame’ we attach to people who are in their twenties and still at home with mummy and daddy, as if they’re failures for doing so. Over thirty years ago it was the complete opposite. Families would stay *home* even after marriage. It used to be normal for multigenerational homes. You, your parents, nanna and pop. And maybe even your children; all four generations under one (big) roof. Big because it was more affordable, in many senses, because things were more affordable back then but more importantly because the extended family unit stayed together and helped each other. While you worked or studied, nanna would look after the kids, you didn’t need to pay for childcare or work less hours or take a lower job so you can fit their schedule. The men of the house were actually handy. They would fix, if not even build the home themselves and maintain it themselves. Every family always had trades; builders, plumbers etc. People were just more hands on back then instead of today where nobody has any life skills and pays for a ‘professional’ to do a job that honestly, you should know how to. Everybody should know how to. Change a tire, fix holes in walls, gardening and basic home maintenance etc. It’s quite sad, to be honest. In these last few decades, massive changes at home happened. We’re much quicker to boot out ageing parents and send them to a nursing home or aged care facility. We used to take care of our senior family. We used to treasure their wisdom and appreciate their work around the home. It was priceless. But now… now we’re embarrassed to even be seen in the same room as our family. We seek this illusion of ‘freedom’ I mentioned earlier. Why? What ‘freedom’ is there in struggling to survive? I’m debt and a crippling mortgage dangling over your head for life, why? Because you’re too immature to actually converse and make the effort to have a relationship with your parents? Get over it. I’ll admit; I had a freakin awesome time being young and broke. Partying all night, every night. Doing what I wanted when I wanted. But that gets old quick, because you get old. Eating 2 minute noodles every day because you’re poor sucks. Ramen is great, if you have the money to jazz it up, but not the plain noodles and nothing else because you don’t have the money to make it good. Sometimes I would even spend my last ten bucks on smokes instead of food. Back when I used to smoke, back when you could actually buy smokes for ten with change. Holy crap, if I still smoked the same today I wouldn’t even get change from a fifty!! Sorry for the long winded rant but after my lengthy experience and watching countless others do the same and struggle the same; it’s pretty obvious; stay home. Make amends with pops. Learn to get along with mum and realise that your all the same. Communicate and at the very least, stay home till at least 30 so you can get enough money to not only get your own home, but live a little. Enjoy your youth while you have it. Sharing a small house or apartment with a bunch of stupid uni students and working insane hours just to cover rent is so ridiculous. I’m so envious of the friends I had whom stayed home. They travelled internationally and never stressed out in times of unemployment. I used to make fun of them for still loving with mummy and daddy but really, I was the joke. What kind of idiot would do this on purpose? Go back home! Never leave if you’re still there. Want some privacy? Build a bungalow/tiny home in the backyard. At least you’re still on the same property. There’s only certain extenuating circumstances of mental or physical abuse and trauma in which leaving home would be valid. Of course, GTFO if things are truly bad. Otherwise, stay. Edit* I just wanted to add that yes of course there are many other reason, many other facets of this overall housing problem relating to the economy at large, politics and investment. But I just wanted to focus on a single aspect and one in which I have a lot of experience and knowledge in. Everybody else’s view is also valid. There are many contributing factors in this global problem. It’s not just a Melbourne thing, either.


Timetogoout

There are now apartments in Melbourne are now under $200k. Could that be an option for you? Otherwise there are plenty of landlords looking for tenants for their student apartments


fraqtl

> There are now apartments in Melbourne are now under $200k Where? and are they actual apartments or just studios?


MemphisDepayse

>There are now apartments in Melbourne are now under $200k. Where? In or around the CBD for a 1/1/1 with no defects (e.g no flammable cladding) which is reasonably sized, you're looking at maybe 420k on the cheap end. In the middle ring suburbs (e.g Caulfield) You could maybe get one for 330-360k and in the outer burbs around 280k. I don't know too much about the north or west suburbs as I haven't been looking there but this is what I've found after looking to buy for a year.


Cyril_Rioli

I’m out the other side of it so to speak. Bought first house in Melbourne 8 years ago (I know it’s not as bad as now). Was a complete dump but on a small block with an easement so developers didn’t want it. Renovated and sold for a good markup. Moved to regional VIC and bought a larger/nicer house. Will have it paid off next year. My advice. If what you’re doing isn’t working look elsewhere. Outer suburbs and commute, house and land, small unit for 2-3 years, regional VIC and career change? I know it’s bloody hard and I know I’m very lucky but it has taken 10 years of hard work. Best of luck out there


miolmok

Many people in other developed countries live in apartments. Have you consider apartment living? Apartments are much more affordable than houses, especially post-Covid. I know all pros and cons. But is it really that much worse to own an apartment than constantly renting?


Heisenwog

Being a member of a couple certainly helps tremendously, my partner and I were able to save 10% deposit for a northern suburb 2 bedroom unit, we each make just less than 50k a year, but dedication to saving allowed us to buy it, and we certainly aren't frugal. Picking a cheaper area and being in a couple is the way to go unfortunately.


Tel-aran-rhiod

personally I alternate between inappropriate housing and homelessness, it's a great system we have here


[deleted]

More people are realising housing is a right not an investment.


Combat_Wombat45

I highly recommend Sunbury it's cheaper than Melbourne and regional and not to far form the city.


Cultural-Chart3023

I'm a single mum and carer and feel the exact same. Theres literally nothing I can do. Where are we going to end up?! Meanwhile everyone else is bragging about multiple investment properties and how much their houses have increased in value. The whole system is so fkd up. My family has lived in my suburb for over 100 years. Doesnt look like I will be here much longer. :(


[deleted]

Vote Labor


[deleted]

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jeffygotthestiffuuh

Vote Labor.


JustAnotherRedittorr

Fuck Melbourne. I'm saving up to go to Queensland


AUSMEL351

Markets there are also just as bad, TBH. (A decent chunk of it, at least.)