Australia housing bubble

[danzvtil]

Nobody under 35 has had to deal with expensive interest rates, I remember in the early 00’s when I got married, we had a mortgage and TWO car loans, my mum went nuts saying we were overextended when she made do with the same XD wagon family car for 18 years.
Fast forward and it’s worse, every family member has a new car,JetSki,boat, the latest tv, $100/month iphone27, Bali holiday twice a year and designer clothes, but they can’t afford an increase in their mortgage. They will learn that prioritising expenses does not mean you are below the poverty line.

[hackney]

Originally Posted by danzvtil

Nobody under 35 has had to deal with expensive interest rates, I remember in the early 00’s when I got married, we had a mortgage and TWO car loans, my mum went nuts saying we were overextended when she made do with the same XD wagon family car for 18 years.
Fast forward and it’s worse, every family member has a new car,JetSki,boat, the latest tv, $100/month iphone27, Bali holiday twice a year and designer clothes, but they can’t afford an increase in their mortgage. They will learn that prioritising expenses does not mean you are below the poverty line.

Pretty spot on.Money has been cheap to purchase, as a result a lot have overextended by buying their ‘toy’s, redrawing off their mortgages with no thought of what can happen around the corner.They are now paying for that.I have absolutely no sympathy for them.Very bad financial management.

[Yellow_Festiva]

Originally Posted by danzvtil

Nobody under 35 has had to deal with expensive interest rates, I remember in the early 00’s when I got married, we had a mortgage and TWO car loans, my mum went nuts saying we were overextended when she made do with the same XD wagon family car for 18 years.
Fast forward and it’s worse, every family member has a new car,JetSki,boat, the latest tv, $100/month iphone27, Bali holiday twice a year and designer clothes, but they can’t afford an increase in their mortgage. They will learn that prioritising expenses does not mean you are below the poverty line.

One thing I have always said is if people were really struggling then there would be no cars at the McDonalds drive through..

And there is generally always a line of cars.

[Polyal]

Originally Posted by Yellow_Festiva

One thing I have always said is if people were really struggling then there would be no cars at the McDonalds drive through..

And there is generally always a line of cars.

?? Maccas et al have a fool proof business case.

When times are tough they are the cheapest going around, when times are good people eat it more than they should...win win.

Its scary how much cheaper it is to "feed" a family there than the local fish and chip shop.