Your Facebook Friends List's Idea of Humour

[vixnix]

Do you dream of nothing more than enough retirement funds to take riverboat cruises in Europe?

You might be ready for Sydney's outer suburbs

[Sonic Johnny]

I don't get why people in Australia earning under $100k/yr still buy houses. The market value is so insanely overinflated that it equals out the same as a mortgage over the course of a lifetime and you can move whenever you get bored of where you are.

[redbreegull]

wen u gotta shit nd people think it's a joke :/

why is this a status

[vixnix]

Originally Posted by Sonic Johnny

I don't get why people in Australia earning under $100k/yr still buy houses. The market value is so insanely overinflated that it equals out the same as a mortgage over the course of a lifetime and you can move whenever you get bored of where you are.

Basically because the Chinese middle class is interested, so values will never come back down and are set to rise no matter what. So you either get in while you're working or retire in poverty.

I wouldn't care about poverty but I don't want to be a burden on my kids and if anything would like to leave them with some inheritance. I think that's what drives us breeders to try and buy a house somewhere and pay it off while we're working. Even if it near kills us to do it.

[Trotskilicious]

Originally Posted by vixnix

Basically because the Chinese middle class is interested, so values will never come back down and are set to rise no matter what.

you don't really understand economics do you

[Sonic Johnny]

She understands the hell outta Miranda Devine though

[vixnix]

Originally Posted by Trotskilicious

you don't really understand economics do you

If I was a betting kind of person, I would put money on me knowing at least as much as you.

[vixnix]

The friend I had dinner with the other night is the son of an economics professor and it was talking to him that confirmed my suspicions somewhat.

Slave classes are being established in the antipodes as we speak...

[vixnix]

If you've ever played and enjoyed monopoly, where prices continually rise until people are forced out of the game, one by one, then you may be interested in watching it unfold in real time, in Australia and New Zealand. Combined, our populations right now are less than 30 million people.

1.3 billion people in China includes a middle class that is larger than the combined total populations of our countries. Their purchasing power far outstrips ours, and property purchasing laws in China make it difficult for them to secure private ownership of property there. So we are an appealing market.

I have friends whose homes rose in value by $100k per year for 3 years in a row.

I have no problem with it personally, I mean who gives a shit who the rich landowning people are, in a country.

But that is the reality for middle class families right now. We're being priced out of the cities we grew up in. Not just by the erosion of workplace rights and shifting consumer patterns through the increase of retail as an industry, though those are factors, obviously. But also by much richer overseas cash buyers who have become interested in owning property in our countries.

It isn't xenophobic to point out a trend in home buying, not until you start saying idiotic stuff like "it's not fair" "they should stay where they are", etc.

I think we should let more people in. Just get them to pay tax so we can support a few refugees, too. Honestly, it doesn't matter. But it is what it is.

[Cool As Ice Cream]

Originally Posted by vixnix

Honestly, it doesn't matter. But it is what it is.

i see you have strong opinion on this subject.
thanks for sharing!

[Sonic Johnny]

Originally Posted by vixnix

I have no problem with it personally, I mean who gives a shit who the rich landowning people are, in a country.

yeah totally

[Trotskilicious]

Originally Posted by vixnix

If I was a betting kind of person, I would put money on me knowing at least as much as you.

why do you insist on spewing a bunch of ignorant crap all over the boards every other week?

[vixnix]

Yeah, or you could tell us why you disagree with me.

But you know, why do that, when your niche here is being a butthurt asshole.

[buzzard]

Originally Posted by vixnix

We're being priced out of the cities we grew up in.

To be fair, however, you didn't grow up in Sydney. The median figure for central Wellington, i.e. where you actually did grow up, remains at less than half that of where you have since elected to migrate. It certainly wouldn't be fair to suggest that a middle class family from Wellington has any more right to the opportunities that might stem from investment in Sydney than a family native to Beijing, though, right?

[Cool As Ice Cream]

ooh, touché!

hoi polloi! :bananadance:

[vixnix]

We moved to Sydney because we were priced out of Wellington. Median house prices in Wellington are much lower than Sydney but median incomes are also much lower, so our purchasing power in my home town is no better than it is here.

The suburb I grew up in was middle class. My parents bought a small home on one income and serviced it easily on one income. I've said it before but I'll say it again. Only one of my friends now lives in a mortgaged home in that suburb. She's a GP and her husband is a lawyer. They have twins and she was back at work within a year of them being born, to service the mortgage. And they bought the house from his mother, so without an agents' fees or a vendor who wanted to rip them off.

But I completely agree that we have no more claim to Sydney real estate than any other foreign investor. I have already said that...

[buzzard]

I'd be quite surprised if the income disparity between professionals of the same variety in Sydney as compared to Wellington was quite as significant as that difference in property values, though I haven't been out to dinner with the children of any experts on the matter and probably wouldn't bet money on a guess.

[vixnix]

Well, I mean be my guest and look into it. We have. And we're now living here.

[Cool As Ice Cream]

what about the median incomes in china?

[buzzard]

I'll flick your husband's CV around a bit and we'll see what comes back.

You'll get to see the $600,000 baby pandas at the zoo.

[buzzard]

The only way to fight back at China in this economic war of property investment is to buy up homes in their neighborhoods. Let's hope they're not eventually flooded by a newly constructed super dam.

[Trotskilicious]

its not disagreement vixnix, most of your assumptions about life and the world are factually incorrect or hyperbole. they almost always reveal your total lack of perspective. so yes, you are ignorant, a status that can be fixed. would you rather be stupid? cant fix stupid. stupid is ignorance plus arrogance.

[Disco King]

I would read a murder mystery in which the evidence that turns out to be the crux of the investigation pertained to property values in Wellington, and the detective were an economist from the University of Queensland.

[Disco King]

The detective's quirk could be that he keeps on having to correct Chinese immigrants when they call him an Austrian economist.

[Trotskilicious]

i wasnt really reading, did she correlate skinny, blonde women with small feet to the housing market yet?

[Sonic Johnny]

Well you got the small feet but right

[vixnix]

Originally Posted by Trotskilicious

its not disagreement vixnix, most of your assumptions about life and the world are factually incorrect or hyperbole. they almost always reveal your total lack of perspective. so yes, you are ignorant, a status that can be fixed. would you rather be stupid? cant fix stupid. stupid is ignorance plus arrogance.

This is more general jibber jabber from you. Pick out a point which is assumption or hyperbole and discredit it and correct my ignorance. Just calling me ignorant over and over again isn't helping anything is it. But I guess you get a kick out of it.

[Trotskilicious]

as always

[vixnix]

Pretty sure anal sex also affects housing markets. That also came up in conversation with the expert's son.

[Trotskilicious]

what about your gigantic man feet?