Are Young People Just Greedy?

[Estelle]

I guess land in Canbera is leased as noone would buy land in such a miserable place.

Oldies can be grumpy. I'm learning why, but gee, the few grumpy ones really are a pain. Some seem to have reverted to two to four year old status.

A young family built a 4bed house near us recently on a block of land smaller than normal for the area and a fairly busy street. Fancy house and put it on the market after about 12months for $1.25M. No go. Went to auction at that price, no go. Back on the market for $1.1M. Has been sold to some poor sucker but haven't seen the sale price as yet. Other bigger and nicer houses in the area haven't reached that figure. Can't blame the Baby Boomers here.

I don't think we change much from generation to generation. Envy gets a look in I think.

[D4D]

Envy gets a look in I think.

Really? When I was a teenager I pushed trollies for pocket money as my folks were paying almost 20% interest on their mortgage and had no spare cash. I see teenagers today just hold out their hands and ask for money and the Parents give it to them. What is the lesson in that? Easy come easy go is the lesson. Not having to work hard to make a $. Sure there are some young people busting their backsides to get ahead, I bet that is due to upbringing. Most though just float through life thinking it owes them a living.

[cruisindub]

Schmik, I was thinking the very same thing.

My wife a I don't earn anywhere near 2k a week before tax. Intact, my wife is now the major bread winner of the hous bringing in $600 week, apparently, that's a great wage for our area.
We think we are doing ok,not struggling, could so better,but we are ok.
If we doubled our income to your 2k a week, how much better off would we be?? We'd think we'd hit the jackpot.

Prior to us buying our house, I worked 7 days,six nights a week, in two jobs, just to pay for our deposit.
Stacking shelves atnight,  working all day, it was a job we did to earn a living, and save for our humble house.
My wage now is pretty mediocre, but I have tike to do my renovations myself, hopefully saving money.
We hVe one car between us and share that. We buy the weekly specials and cut coupons, hunt for bargains.
Isn't this normal?

I had my first job at 13 years and have nevver been out of work since.
Isntthis normal?



We actually think we are doing ok. Apparently we are not?

[Estelle]

Really? When I was a teenager I pushed trollies for pocket money as my folks were paying almost 20% interest on their mortgage and had no spare cash. I see teenagers today just hold out their hands and ask for money and the Parents give it to them. What is the lesson in that? Easy come easy go is the lesson. Not having to work hard to make a $. Sure there are some young people busting their backsides to get ahead, I bet that is due to upbringing. Most though just float through life thinking it owes them a living.

Our oldies had no spare cash either, but they bought what they thought was necessary (good food was high on the list) and worked their tail off. We gave our kids what we thought was the best for them as well.

Bumming off society. Nothing to do with the generation. Was happening in the fifties and sixties and still going). Bound to be happening a lot earlier, I just wasn't around (thank goodness - life was just toooo hard way back beyond) to notice.

Not the kids fault. So and so has one, why can't I? been going on forever.

Nero probably had similar issues (did he have kids, at least those he knew about or admit to?).

Yep, will stick with envy.

I'll add on peer pressure.

[kylarama]

Oh goody...   a "back in my day" thread!

[Mrs smith]

MHO.
With all this you only live once crap I hear every where.
I think 90+% of the younger gen just seek "instant gratification" after growing up in a world of push the button and get an instant answer.
http://en.wikipedia.org/wiki/Deferred_gratification
I just hope it works out well for there kids. 

[lilstookie]

Schmik, I was thinking the very same thing.

My wife a I don't earn anywhere near 2k a week before tax. Intact, my wife is now the major bread winner of the hous bringing in $600 week, apparently, that's a great wage for our area.
We think we are doing ok,not struggling, could so better,but we are ok.
If we doubled our income to your 2k a week, how much better off would we be?? We'd think we'd hit the jackpot.

Prior to us buying our house, I worked 7 days,six nights a week, in two jobs, just to pay for our deposit.
Stacking shelves atnight,  working all day, it was a job we did to earn a living, and save for our humble house.
My wage now is pretty mediocre, but I have tike to do my renovations myself, hopefully saving money.
We hVe one car between us and share that. We buy the weekly specials and cut coupons, hunt for bargains.
Isn't this normal?

I had my first job at 13 years and have nevver been out of work since.
Isntthis normal?



We actually think we are doing ok. Apparently we are not?

I think its normal.
We have 1 wage which is less than $1000 , wife is stay at home mum. We saved and bought our Jackaroo, bikes and CT Cash over the years. We thing we are doing "OK" we eat well and are currently travelling.
But we have NO DEBT, NO Mortgage, No credit cards.
When I earn Money I pay Nothing out to no one , unless its for a patch of grass........
We have time and money to enjoy what we are doing......having a house is a Dream......just not ours right now.

[BLKWDW]

This post is a gee-up... right?

I'm not greedy but like my family to have nice things.  ->  ummm. OK.
It does come at a cost though especially with me being away from home 5-6days a week -> it's called a job
Combined me and my mrs would take home over 2k a week -> That is over $104 000 per year AFTER tax. That's about $140,000 pre tax.    According to the ABS, $80k puts you in the top 10% of all income earners in Aus.

Nope no gee up.
How does having nice things make me greedy? Going out and buying a 100k brand new car would make me greedy.
I know its a called a job but it comes at a cost of not being home with my 3 soon to be 4 kids and wife. A cost that i cant get back.
I know we earn alot but for what ever reason never seem to get ahead. my job is perm/casual so anytime spent with truck broken down is no pay and no holiday pay. We dont spend money on Shit either so its not like we are wasting it. Maybe its time to see someone about it.

Anyways i wasnt on here to brag or for sympathy but was answering the original post about us not being greedy. I work hard and long hrs for my money a min of 14hrs a day and regularly do up to 17hrs a day and my wife works 3 jobs so we dont expect things to fall in our lap or for free we work hard for what we do have.

[shanegtr]

Im not going to comment on states outside of WA as I have NFI what goes on out of here But we just moved back to Perth after 8 years living in the Pilbara. From my looking around, the only truely affordable housing in Perth is to either build as cheap as you can or buy establised in the ****ty suburbs. I belive (although most propably wrong ) that the current rental market here is a strong indication that housing is unafordable to buy. I spent 6 years in Karratha and watched the housing/rental prices skyrocket, and I can see the same thing happening here - although it will never (hopefully) get to that same level of craziness.

We brought our first home when I was at the end of my second year apprenticship - grand old age of 20. We hunted for a cheap well layed out house and managed to find one, just the street was a little busy, but certainly far from the worst to live on - but excellent location with shops just across the road and major high school a few minutes walk. We still own this house, but havent lived in it for the years we where up north.

For those who think negative gearing is to blame, I think not. Have a think about what it is - negative income! how sustainable do you think it would be to own 6 propertys all negative geared on an average or normal income. I think negative geared housing has had accountants talking it up more than its worth for too many years - but thats just my uneducated thoughts

Now we are just buying our second house - one to live in. And with 2 kids and a 3rd on the way we found it a scary thought to build in Perth - there is no way my kids would be happy living on a block with less than a couple of metres between the house and back fence. So we made the decision to buy something over 1300sqm. We dont need a huge house, just something comfortable for our family size. And trying to find something that met what we wanted within our (below average) budget was hard. Most houses where too small, we ended up buying a house that was a little more than we budgeted for but ticks all our boxes.
We could have built more affordably, but didnt like that lifestyle of a small block. We could have tried renting, but with 3 kids and two dogs I think we would have had a tough time in the current perth market. We could have kicked our tenant out of or house and lived easily, but the distance is a little over double to get to work - and I work 12hr shifts.

Honestly I would hate to be a first home buyer in the current market, we found it daunting with our first home spending all that money (and that waas under 130K at the time).

I own 3 cars, the newest being my cruiser which is a 97 so Im not greeding wanting a flash new car - unlike I would say a majorty of people in the north-west who all have landcruisers or prados on lease.

[bundyfamily]

There's definitely a "keeping up with the Jones" thing going on now days.


Sent from my iPad using Tapatalk HD

[schmik]

For those who think negative gearing is to blame, I think not. Have a think about what it is - negative income! how sustainable do you think it would be to own 6 propertys all negative geared on an average or normal income. I think negative geared housing has had accountants talking it up more than its worth for too many years - but thats just my uneducated thoughts

I think you missed the point of negative gearing.   It's based on the gamble that property will go up in value. It's got Sweet FA to do with the rental income or loss you make.   e.g,  that house you bought in 2003 for $300k is now worth $700K.   
$400k PROFIT (take out capitol gains tax).

Imagine you did buy 6.    $2.4 mil minus tax. Not bad.

In the eastern states it's all over anyway. The value of property is not going up by a significant amount any time soon.

AT BLKWDW. No offence intended but on that income you should be able to save $500 a week. $25k per year. 4 Years you have your $100k truck.

[shanegtr]

I think you missed the point of negative gearing.   It's based on the gamble that property will go up in value. It's got Sweet FA to do with the rental income or loss you make.   e.g,  that house you bought in 2003 for $300k is now worth $700K.   
$400k PROFIT (take out capitol gains tax).

Imagine you did buy 6.    $2.4 mil minus tax. Not bad.

In the eastern states it's all over anyway. The value of property is not going up by a significant amount any time soon.

Well I wasnt even touching on the capital gains issue (which in theroy will apply the same to positive geared). My point was more the fact that most people would only be able to afford 1 or maybe 2 investment properties negative geared, so it kinda slows the whole massive price increases in housing blamed on negative gearing.

6 was just some random number I pulled out of my .....

[becboo]

So are this generation greedy?


Where is the cutoff for each generation?  Is there a year?

[schmik]

Well I wasnt even touching on the capital gains issue (which in theroy will apply the same to positive geared). My point was more the fact that most people would only be able to afford 1 or maybe 2 investment properties negative geared, so it kinda slows the whole massive price increases in housing blamed on negative gearing.

6 was just some random number I pulled out of my .....

I don't blame negative gearing... i blame the govt

There is a link earlier in this thread. It shows that baby boomers. Aged something like 46 to 66 account for 24% of our entire population.  This 24% owns 52% off the value of all housing in aus.

IMO, there had to be something (as well as superannuation) to fund their retirement.
Landcruiser 200's, European cruises,  young mistresses all cost money you know!   

I say the above with a touch of envy... but sheesh! after i have worked 45 years non stop i too would like a fruit for my labor.

mike

[Big Nath]

OK, so my wife and I are 29. We dint own a house. We do however own our 2 cars, a boat a CT and a few other toys.

Why no house? we much prefer spending time with our kids and not always at work. I'm a stay at home dad again, and i receive NO government help (happy with this) The way we see it is we need to be making memories with our kids at this early age, not work work work to make mortgage repayments.

case in point.

My brother in law, works 6 days a week, 8-6 plus is on call. We have ask him to come camping/skiing with us, he cant. he simply cant afford to take a few days off work. he owns 2 houses. 1 he rents out, 1 he lives in. he is 25. His wife is preggo with there 4Th child. he will have 4 under 5. he told me they keep getting preggo so quick as the government money helps them breath a little easier. he spends zero time with his kids and they are an absolute PITA. He has almost 8k on GO mastercard. His 50" plasma recently died. he still doesn't own it. GO does. He too is the sort of bloke that wants it NOW so goes into more debt

Personally that's not the life for me. i love making memories with my kids/family and doing things to benefit them. i have plenty of time to be old.

Dint get me wrong i know all about the hard life i was bought up that way, my old man become disabled when i was 13, so that's when i had to step up. How many 13yr olds do you know had to wipe your old mans a$$. He worked away lots when i was growing up and his words to me where he regretted doing that.

While i agree with your generalisation of young people, there are a few who look at life a little differant. 

Cheers!!

[Dogsbreakfast]

time with family is all important, especially 1-7 years old . Kids learn more in this period than they will for the rest of their lives. I can't believe people put their kids in childcare for the majority of this time in the hands of someone else to teach them? I purposely have set up my life so I get to spend as much time at home with them as possible and that my wife doesn't have to work so she can raise them to be respectable kids. If this means i live without a few luxuries than so be it. A kiddies smile/hug/love is worth more to me than a new plasma.

[D4D]

I can't believe people put their kids in childcare for the majority of this time in the hands of someone else to teach them?

I disagree with this statement. My wife works a couple days a week because she loves her job not because we need the $$. My son therefore spends a couple days a week in day care. It has taught him how to interact with other kids, how to share/negotiate etc. Being an only child he may have learnt that at home but never been able to practice it.

[Big Nath]

I disagree with this statement. My wife works a couple days a week because she loves her job not because we need the $$. My son therefore spends a couple days a week in day care. It has taught him how to interact with other kids, how to share/negotiate etc. Being an only child he may have learnt that at home but never been able to practice it.

thats the job of a parent. not daycare

[cruisindub]

We have a26" flat screen that Cost us a fortune at the time.
Anybody remember when that was a large screen.?
Can you even buy a26 anymore? Most are using those for a computer monitor!


We are not worthy!!

[D4D]

thats the job of a parent. not daycare

I think you need to re-read what I typed.

[Dogsbreakfast]

I disagree with this statement. My wife works a couple days a week because she loves her job not because we need the $$. My son therefore spends a couple days a week in day care. It has taught him how to interact with other kids, how to share/negotiate etc. Being an only child he may have learnt that at home but never been able to practice it.

no probs, thats just my opinion. My wife had the option, but she loves her kids more than her job.

[Hairs]

we much prefer spending time with our kids and not always at work. I'm a stay at home dad again, and i receive NO government help (happy with this) The way we see it is we need to be making memories with our kids at this early age, not work work work to make mortgage repayments.

Same here, a stay at home dad/carpenter, jack of all trades.
We have learned to prioritize were our coin goes. 

One of my favorite sayings is,
'Never get too busy making a living that you forget to make a life'
 

Hey cruisindub,
Our 68cm NEC is going on twenty one years old now.
 

[D4D]

My wife had the option, but she loves her kids more than her job.

I love the inference in this comment

[Big Nath]

I think you need to re-read what I typed.

I read it fine the first time. And my
Opinion still stands.

How would you cope if she didn't work there?

[D4D]

I read it fine the first time. And my
Opinion still stands.

Well you read it wrong therefore your opinion is null and void. We teach him at home however as he is an only child he gets to practice what we teach him at day care as he doesn't have any other siblings at home.

How would you cope if she didn't work there?

I don't understand your question?