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If you started from absolute scratch right now $0
How long do you think it would take you to save 20% deposit for a property/house?
What would the avg salary be? around 75k maybe use that as a guide.
12 months jobless ?? in Australia ? Recently ? Unless you were in hospital in traction .... Get on ya bike mate. YOU are not a fairdinkum investor. LL
If you started from absolute scratch right now $0
How long do you think it would take you to save 20% deposit for a property/house?
What would the avg salary be? around 75k maybe use that as a guide.
Never said I was, mate. Infact, if you read my earlier post in this thread I was being honest about my seemingly lagging skills in money management, and asked for advice.
While we're at it... What makes you so certain it's easy to get a job, and by not being continuously employed for the past few years it was all due to my own fault?
Let's deal with the money management first. Cut up your cc;s now. Always spend MUCH less than you earn. Don't smoke. Only EVER take on debt to buy an appreciating asset. Job done. Next ?
Employment. Well for quite some time Oz has had employment around the 6% levels. I forget how many years of consecutive economic growth, but (I think ) it's a record for developed countries. Full employment is considered 5% . So at 6% if you were unemployed ( and sincerely wanted a job ) you'd be part of the 1%. Good odds mate !! Times in Oz have been generally pretty good. Evidence is people pushing up property prices as we speak. So I state with some confidence that jobs are clearly there if you want them. LL
I agree with you LL. For those that want to buy a house the opportunities are there, even on low incomes. It annoys me aswell that the people hyping the media with 'housing prices being too unaffordable' are usually the ones that eat out 2 or 3 times a week or spend that extra bit of money on the nicer car they don't really need.
The area it took the longest was Peppermint Grove in Western Australian were first time buyers would need to save for 21.5 years to save the $769,000 required based on the median value in the area.
http://www.news.com.au/finance/real-estate/it-is-taking-first-home-buyers-longer-than-ever-to-save-for-a-deposit/story-fncq3era-1227161449920