Unaffordable Housing.

 

What a million dollars would get you in 1960

Above.. This is what you could get for a Million dollars in 1960..
(the very famous scene from James Bond - Dr. No.)

Below.. What you will get for a Million dollars in 2014.. (including bank interest)

What a million dollars will get you in 2010

Tragically, millions of 'Baby Boomers', living in places like this, are expecting that the next generation will happily buy these houses from them!
From our research based on IT graduate classes..
* 15 years ago, 80% of graduates believed they would buy their own houses.
* Today, 80% firmly believe they will NEVER pay current prices to own a house.
* 50% believe those prices will 'crash' soon - and then they may re-consider.

Statistics indicate that huge numbers of 25-35 year olds have moved back home with their parents. The 'Salvos' report that the traditional animosity between these adult children and their parents is being overcome, and that "Amazingly, they are all getting along just fine! - Nothing like a bit of hardship to force people to 'get along'".

Below - Rent a Balcony for just $215 per week!

Rent a Balcony for $215 / week

Man rents Newtown balcony for $215 a week!
(text below is from: News.domain.com.au) (Image: Charles Taperell)
"With Sydney’s global-index-topping rental prices, the high costs of housing can keep young people out of stable accommodation.
For this young man, the only entrance is through another tenants bedroom - and he pays $215 per week! "Another guy lives in the laundry. He’s got his whole house in there.”
"Bed bugs, security issues and the perils of unwritten lease agreements were just some of the elements young people were wrestling with when it came to finding affordable places to live."
“Young people are particularly vulnerable when it comes to housing,” says Joel Pringle, Campaign Manager for Australians for Affordable Housing (AAH). [Click Here to see their site.]

see..  A Housing Bubble?..


40 Fold Increase!

Written by Brian.F
We sold the  bedroom cottage shown below for $17,000 in 1978.
This house has just (2014) sold for $670,000 - That is a 40 fold increase!
In that same time (36 years) the average wage of Australians has increased only 8 fold. (according to government stats.) This is one of the best examples of "Unsustainable" I've ever seen!

Chester Street

The $670k is obviously the land, not this 1½ bedroom house. The Land; the Water; the Resources all belong to our children and their children! ONE generation does not have the right to speculate the value of these basic rights to a level beyond the reach of future generations.
My children are at the age where they 'should' be buying a house - but half a million dollars is well beyond them!

wip.