Thinking About Becoming an Australian Citizen

[Vichel]

Originally Posted by HairyandScary

I never really used to complain about the the higher cost of living on the west cost Vichel because at least our rent was cheap and our house prices was low compared to places like Sydney. But after the real estate boom in Perth this has all changed.

Exactly - you had more left over after paying the rent or mortgage for everything else that was a bit more expensive back then. Now, the rent and mortgage takes a huge chunk out of your take-home pay plus everything else is quite a bit more expensive. I find meat and fish has increased substantially here in W.A. Not just a bit more expensive than the east, a lot more! So Perth's scared us off as a place to retire in. It'd be a case of our monthly income going all to basic living costs, and just existing here, not living.

Originally Posted by HairyandScary

I shouldn't be so bitter. I had a chance to buy into real estate here before the boom. But I didn't want to be tied down just yet Big mistake!
Now 6 years down the track, like all the newly weds I have been totally priced out of the real estate market here for good. You need almost $800 000 these days to get something decent.

I feel for you. Coz I see my two kids, who are in their early 20's, as being SOL when it comes to buying here. When we first moved to Perth, it seemed like they would have that opportunity here. Not anymore.

Originally Posted by HairyandScary

People here tell me the real estate market will come back. But I don't believe it will. Do not under estimate the sheer will of Australian Moms and Dads to invest in real estate market down here. Its the Great Australian Obsession.

When I lived in Vancouver, it seemed that people just came to accept, very quickly, that they were priced out of the real estate market beginning in the mid 90's. And were complacent to just rent. Here, there's a real fight against that, we're not as accepting of that fate. Like you said, it's an Obsession. I suppose because we've had such high rates of home ownership all along, due to cheap real estate prices, until just very recently. I know a lot of people in their 40's and 50's who bought their first homes when they were in their early 20's, some still living at home, and they owned them outright well before their 30th birthdays. Some even had two paid-for houses before they were 30. On average salaries. Those days are gone and it's hard to swallow I suppose.

Originally Posted by HairyandScary

The average Australian house price in the capital cities is about $500 000. Like the chinese real estate market, I believe this real estate bubble has only just begun

It doesn't help with the "land shortage" here in W.A. Had to laugh when I read that article in the paper this morning. I'm sure that keeps the prices up there. The other annoying thing is that the few smaller cities/big towns (with employment opportunities) that we have here in Oz are not much cheaper for housing. Some are even more expensive, like the mining towns in the northwest.

[HairyandScary]

Originally Posted by Vichel

Exactly - you had more left over after paying the rent or mortgage for everything else that was a bit more expensive back then. Now, the rent and mortgage takes a huge chunk out of your take-home pay plus everything else is quite a bit more expensive. I find meat and fish has increased substantially here in W.A. Not just a bit more expensive than the east, a lot more! So Perth's scared us off as a place to retire in. It'd be a case of our monthly income going all to basic living costs, and just existing here, not living.



I feel for you. Coz I see my two kids, who are in their early 20's, as being SOL when it comes to buying here. When we first moved to Perth, it seemed like they would have that opportunity here. Not anymore.



When I lived in Vancouver, it seemed that people just came to accept, very quickly, that they were priced out of the real estate market beginning in the mid 90's. And were complacent to just rent. Here, there's a real fight against that, we're not as accepting of that fate. Like you said, it's an Obsession. I suppose because we've had such high rates of home ownership all along, due to cheap real estate prices, until just very recently. I know a lot of people in their 40's and 50's who bought their first homes when they were in their early 20's, some still living at home, and they owned them outright well before their 30th birthdays. Some even had two paid-for houses before they were 30. On average salaries. Those days are gone and it's hard to swallow I suppose.



It doesn't help with the "land shortage" here in W.A. Had to laugh when I read that article in the paper this morning. I'm sure that keeps the prices up there. The other annoying thing is that the few smaller cities/big towns (with employment opportunities) that we have here in Oz are not much cheaper for housing. Some are even more expensive, like the mining towns in the northwest.

Vichel I really feel the younger generation have really been screwed over in this country. For them there is no were to go. Melbourne, Sydney, Perth, Brisbane are all very expensive to Buy and Rent. They have a really long hard life ahead of them, at least 50 years to pay off a mortgage In all honesty I think if your young and you have a degree in this country. Meaning it wouldn't be to hard for you to get duel citizenship with a country like the U.S. You would be much better off leaving this country and going there. I know unemployment is bad over there, but I think the U.S economy will eventually turn around. At least in the U.S there are still cities that don't need half a million big ones to buy property. Your life would be a lot easier over there in the long run

Oh and land shortages in Perth ... makes you laugh doesn't it
Perth is only surrounded by about a 1000 square miles of open scrub
I think it all about politicians protecting their own personal real estate investments...well thats my theory

[TropicalAussie]

Originally Posted by HairyandScary

Oh and land shortages in Perth ... makes you laugh doesn't it
Perth is only surrounded by about a 1000 square miles of open scrub
I think it all about politicians protecting their own personal real estate investments...well thats my theory

It's all a rort, isn't it?

[artemis agrotera]

something's gotta give -

we're somewhere between 20%-50% over valued ....(from what i have read)

I'm glad I bought a house young - before the boom in Melbourne (didn't travel etc, when all my friends were off doing that)

Now ... I can afford to travel & have a property.

Unfortunately a lot of people I know are struggling to find something that isn't 45km out of the city for a reasonable price ...