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1201 posts

Uber Geek
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  Reply # 1870730 22-Sep-2017 09:35
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GV27:

 

 

 

So you want me to explain how people coming here were able to buy houses 10 - 12 years ago? I'll start with "houses were a lot cheaper then" and now own several because boomers keep voting for councils and Govts which entrench their ability to invest in property at the expense of young people?

 

And it's rich to accuse Kiwi millennials of being entitled, given we've got a generation that gets money for turning a certain age profiteering of us. But that's cool. I'm sure people totally put off having kids and families forever because we have too much smashed avo on toast, and not because the older generations keep tilting the playing field in their favour. 

 

 

You not getting my point. They did not buy houses 10-12 years ago. 10-12 years ago they had nothing, not a dollar to their name. They bought houses after that, saved hard, and bought first house in the last 2-3 years. In other words, these people were worse off that you.

 

 

 

 


370 posts

Ultimate Geek
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  Reply # 1870736 22-Sep-2017 09:46
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Wiggum:

 

You not getting my point. They did not buy houses 10-12 years ago. 10-12 years ago they had nothing, not a dollar to their name. They bought houses after that, saved hard, and bought first house in the last 2-3 years. In other words, these people were worse off that you.

 

 

Ten years ago I had about $20 in my bank account and was racking up a massive student loan. I still have the loan and the bank account with about $20 in it. It's only because of the Kiwisaver subsidies that I can enter an affordable housing ballot.

 

Until relatively recently, renting was a far better proposition. Now rents have started to rise to preserve yields. It may have been possible to rent and save for a deposit at some point, but anyone who left university after 2010 faces a dramatically different proposition. 


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  Reply # 1870783 22-Sep-2017 09:50
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GV27:

 

Wiggum:

 

You not getting my point. They did not buy houses 10-12 years ago. 10-12 years ago they had nothing, not a dollar to their name. They bought houses after that, saved hard, and bought first house in the last 2-3 years. In other words, these people were worse off that you.

 

 

Ten years ago I had about $20 in my bank account and was racking up a massive student loan. I still have the loan and the bank account with about $20 in it. It's only because of the Kiwisaver subsidies that I can enter an affordable housing ballot.

 

Until relatively recently, renting was a far better proposition. Now rents have started to rise to preserve yields. It may have been possible to rent and save for a deposit at some point, but anyone who left university after 2010 faces a dramatically different proposition. 

 

 

Agree fully. Baby boomers did not cause this housing crisis, thats the point, you seem to want to blame them for everything.


bmt

418 posts

Ultimate Geek
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  Reply # 1871231 22-Sep-2017 21:42
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I saved 26% of my pay for 9.5 years and over the last year, $200 a week, towards a deposit. By the middle of next year I'll have been saving every single week for 11 years. I'll have saved $160-170k by then. I'm now well into the top tax bracket. I'm buying what's considered an affordable apartment for $650k.

 

And I still cannot buy it without the help of my brother, either through helping with the deposit or to be able to service the mortgage.

 

How do I compare to a baby boomer back in the day?  


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  Reply # 1871263 22-Sep-2017 22:50
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There is a whole generation between Baby Boomers and Millennials, you know. Gen X.

 

The Baby Boomers do not own all the houses in NZ to the exclusion of everyone who came after. We of Generation X own quite a few ourselves.






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