Comments on: Are Australians Better or Worse Off Than Americans?

By: Dom

Dom — Mon, 04 Feb 2008 00:29:39 +0000

Is 49% interest rate too much to ask for? Looking at buying a small caravan....

By: Watcher

Watcher — Thu, 31 Jan 2008 23:56:50 +0000

Yes the babyboomer realestate permabulls should be aware that the iPod generation whom you outnumber vastly are going to exact their pound of flesh.

They may only be able to afford a caravan now but just wait till you are dependant on them in your old age, $500 to mow your lawn, no problem. Don.t take it personally though, they will need to do this so they can afford the same lifestyle you take forgranted and have children of their own.

Bring on 15pc Interest rates, we'll be hanging out on a Bali on a surfing safari while the dust settles.

By: Unpopular Truth

Unpopular Truth — Thu, 31 Jan 2008 05:19:25 +0000

The first letter proves their own point wrong in very simple terms. His house cost 2.5 times his yearly salary. One that I could get would cost 5 times mine. And no, it's not a Mc Mansion, it's a modest unit with 3 bedrooms with an extremely old kitchen (probably from the 80s). And no, I don't have a new car.. I have a 10 year old banger, recently upgraded from a 21 year old. Unfair expectations? Hardly. Baby Boomers have no idea how good they have it. Free education, free handouts, no tax on super, and the best land in capital cities. Don't cry too much when you're all too old to work and the Gen Y's like myself are asking twice what we get paid now in 5-6 years time because there's a skills shortage. I plan on taking every penny I can get because I know that it's the only way I'll ever get ahead and live in a place that's as good as the one you take for granted now.

By: Topographic

Topographic — Thu, 31 Jan 2008 03:25:48 +0000

The first letter in the article from Dave. R shows a lack of knowledge of the property market at the moment. He's able to give some numbers from the 70s, but nothing current. He also refers to house area in "squares", thats old school. A medium to large (500m2 to 800m2) block these days is as much as a small house and block, $300-$500k. There's no money left over for a NEW building of any kind. Unless you dont mind extreme debt. Singles however are almost completely priced out. Im not whinging, we bought 6 months ago, (small old house and small block) and by our calculations will be finished with the mortgage in 10 years, without suffering too much. I agree that times change, and so must expectations. Expectation crisis? yes, I struggled with it myself.

By: Zaphod

Zaphod — Thu, 31 Jan 2008 00:19:05 +0000

I'm not much of an economist, but can someone please tell me what's driving our economic boom other than resources? I certainly don't experience the benefit of all that digging, (maybe because i'm self employed).Most of our industries are moving or have moved to china, India etc.Our exports have dropped imports risen so what's going on?Further more, how many of these figures have been embelished ie.economic growth due to more credit spending?After all Australians have the highest amount of credit debt per capita in the world.

By: John

John — Wed, 30 Jan 2008 13:54:25 +0000

Dan-

I think you've absolutely hit the nail on the head.

I'm so sick of my aussie friends telling me that the growth in housing prices is a result of the aussie mining boom. While I agree that's part of the story, relaxation of credit lending tightness has certainly played its part in Australia- with both factors trumped by the magic of "expectation".

Is it evil of me to hope that interest rates go up 5% to prove the point?