Things that make you sad.

[dedja]

Its good that people are talking about their issues

It's the aggressive war on gender that pi$$es me off

Agree, best to say that I’m not on the same page as my daughters on this one.

[wenchbarwer]

That’s an interesting point.

Certainly the old days where we were all told to shut up and suck it up didn’t help, but have we gone too far the other way?

Don’t know, but the world seems much more complicated than it used to be.

IMO opinion no, we haven't, the severity of the root causes has though I think.

Be open and honest and talk to people when you're struggling, if the cafe is out of almond milk just get on with it.

Absolutely it is. Imagine being 23, trying to save for a house, find a life partner, navigating the social landscape? No thanks.

Tell me about it, I’ve got 3 daughters in their 20s.

I've got 3 sons in the same boat

[Brodlach]

That’s an interesting point.

Certainly the old days where we were all told to shut up and suck it up didn’t help, but have we gone too far the other way?

Don’t know, but the world seems much more complicated than it used to be.

IMO opinion no, we haven't, the severity of the root causes has though I think.

Be open and honest and talk to people when you're struggling, if the cafe is out of almond milk just get on with it.

Absolutely it is. Imagine being 23, trying to save for a house, find a life partner, navigating the social landscape? No thanks.

Didn’t we all have to do that though?

I know I think differently about this than most others.

[Booney]

That’s an interesting point.

Certainly the old days where we were all told to shut up and suck it up didn’t help, but have we gone too far the other way?

Don’t know, but the world seems much more complicated than it used to be.

IMO opinion no, we haven't, the severity of the root causes has though I think.

Be open and honest and talk to people when you're struggling, if the cafe is out of almond milk just get on with it.

Absolutely it is. Imagine being 23, trying to save for a house, find a life partner, navigating the social landscape? No thanks.

Didn’t we all have to do that though?

I know I think differently about this than most others.

It is not the same, you cannot think for one minute it is.

[Brodlach]

I don’t think they are too dissimilar.

Kids could save $5k a year just by doing what we kid as kids. Take your lunch to work and don’t spend $150 a month on an iPhone 15 pro max when an iPhone 8 will do.

[amber_fluid]

I don’t think they are too dissimilar.

Kids could save $5k a year just by doing what we kid as kids. Take your lunch to work and don’t spend $150 a month on an iPhone 15 pro max when an iPhone 8 will do.

I’m with you.
Daily coffees, brand name clothes, yearly holidays(most overseas), every concert that comes, every sporting event, etc etc

Stop all that or at least limit it and you’ll have a deposit on a house.

[wenchbarwer]

I don’t think they are too dissimilar.

Kids could save $5k a year just by doing what we kid as kids. Take your lunch to work and don’t spend $150 a month on an iPhone 15 pro max when an iPhone 8 will do.

5K when we were kids and 5K now are two completely different things

[Brodlach]

I don’t think they are too dissimilar.

Kids could save $5k a year just by doing what we kid as kids. Take your lunch to work and don’t spend $150 a month on an iPhone 15 pro max when an iPhone 8 will do.

5K when we were kids and 5K now are two completely different things

$5k back in those days was almost our yearly wage.

I’m thinking $5k a year for extra savings on top of what they should have and that’s $50k in 5 years.

Kids living at home earning $40-$50k a year should be saving at least $10k a year.

[wenchbarwer]

I don’t think they are too dissimilar.

Kids could save $5k a year just by doing what we kid as kids. Take your lunch to work and don’t spend $150 a month on an iPhone 15 pro max when an iPhone 8 will do.

I’m with you.
Daily coffees, brand name clothes, yearly holidays(most overseas), every concert that comes, every sporting event, etc etc

Stop all that or at least limit it and you’ll have a deposit on a house.

Median house prices at $700K - https://www.abc.net.au/news/2023-07-29/ ... /102664602

$10K per year savings, 10% deposit, that's 7 years. 20% deposit is 14 years. And they'll have no way to service a loan that big either. It ain't easy

[Brodlach]

I don’t think they are too dissimilar.

Kids could save $5k a year just by doing what we kid as kids. Take your lunch to work and don’t spend $150 a month on an iPhone 15 pro max when an iPhone 8 will do.

I’m with you.
Daily coffees, brand name clothes, yearly holidays(most overseas), every concert that comes, every sporting event, etc etc

Stop all that or at least limit it and you’ll have a deposit on a house.

We have 11 Uni kids at my work, out of those 11 there has been 7 that have gone overseas in the past 4 months. One has been overseas 3 times in 13 months

[Brodlach]

I don’t think they are too dissimilar.

Kids could save $5k a year just by doing what we kid as kids. Take your lunch to work and don’t spend $150 a month on an iPhone 15 pro max when an iPhone 8 will do.

I’m with you.
Daily coffees, brand name clothes, yearly holidays(most overseas), every concert that comes, every sporting event, etc etc

Stop all that or at least limit it and you’ll have a deposit on a house.

Median house prices at $700K - https://www.abc.net.au/news/2023-07-29/ ... /102664602

$10K per year savings, 10% deposit, that's 7 years. 20% deposit is 14 years. And they'll have no way to service a loan that big either. It ain't easy

Why start with a house, plenty of units available around $350k

Don’t need the biggest and best to start with, just get their foot in the door.

[wenchbarwer]

Why start with a house, plenty of units available around $350k

Don’t need the biggest and best to start with, just get their foot in the door.

Was replying to amber's comment about a house deposit

Median unit prices are at $463500 - https://www.realestate.com.au/sa/adelaide-5000/

House prices are waaay more expensive than the Aunty article I linked

[wenchbarwer]

I just did a quick and dirty loan serviceability calculator at ING

On $45K per year, a single person could borrow $143,000. Two kids on $45K each, with $1800 per month expenses, can borrow $336,000. You're not getting anything for that...

[The Bedge]

Genuine question.

Is depression, mental illness, etc far more prevalent these days or is it just more out in the open and acknowledged rather than swept under the carpet?

Certainly the latter and only for the better IMO.

However, only recently have I discussed the resilience the "younger" people today seem to possess, not saying there's a link between clinical depression / mental illness and intestinal fortitude but the line is sometimes blurred by those who are finding their way in the modern world. I don't envy the millenials one bit.

It's both for me.. It's definitely more acknowledged and spoken about, but I feel like there is a significant increase in this area, and I blame social media / tech / apps etc to be honest.

The expectations for people are higher, they put "their best lives" out on Insta, Snapchat, FB and most of the time make it look perfect, and it's a hard life to maintain but also sets an unrealistic expectation or standard for others.. then you have apps like Tinder etc. that require nothing except a swipe of the finger to select a partner - again setting unrealistic expecations and standards.

I also feel that whilst there is a strong emphasis and focus on mental health - understanding it and discussing it - I'm not completely sold that the majority really give a shit.. more that they feel warm and fuzzy to let you know "my doors always open" when in reality, they are not.

[Brodlach]

Well said Bedge, got to teach your kids the right way.

[Brodlach]

I just did a quick and dirty loan serviceability calculator at ING

On $45K per year, a single person could borrow $143,000. Two kids on $45K each, with $1800 per month expenses, can borrow $336,000. You're not getting anything for that...

You be thinking/hoping kids who have saved for a number of years (min 5) for a decent deposit would be on more than $45k a year

[woodublieve12]

I just did a quick and dirty loan serviceability calculator at ING

On $45K per year, a single person could borrow $143,000. Two kids on $45K each, with $1800 per month expenses, can borrow $336,000. You're not getting anything for that...

You be thinking/hoping kids who have saved for a number of years (min 5) for a decent deposit would be on more than $45k a year

Are they paying rent or board, bills at this time???

[Brodlach]

I just did a quick and dirty loan serviceability calculator at ING

On $45K per year, a single person could borrow $143,000. Two kids on $45K each, with $1800 per month expenses, can borrow $336,000. You're not getting anything for that...

You be thinking/hoping kids who have saved for a number of years (min 5) for a decent deposit would be on more than $45k a year

Are they paying rent or board, bills at this time???

I did say living at home.

Someone earning $40 a year, $700 a week after tax taken home.

$200 saved( a week $10k a year)

$500 a week to live on. I doubt many parents are charging more than $100 a week board.

$400 to live on a week. They can’t live on that?

[Booney]

I just did a quick and dirty loan serviceability calculator at ING

On $45K per year, a single person could borrow $143,000. Two kids on $45K each, with $1800 per month expenses, can borrow $336,000. You're not getting anything for that...

And if you do you're living in the arse end of nowhere and doing nothing because the $336k loan is $2000 per month to pay.

The reality is so far from people's understanding that it astounds me at times.

There is simply no way you can think living, working, saving, buying a house now isn't harder than it has ever been.

[Trader]

I think this thread is covering the topic very well.

Mental health issues, soft youth coming through, and poor expectation setting.
Heck, the discussion about housing being tough is creating the excuse for the kids already, and the comparisons to median house prices, or even median unit prices is compounding that poor expectation.

Nothing wrong with living a modest lifestyle for a few years then entering the market in the 25th percentile, not the 50th.

Apparently the average hourly wage for a labourer in Australia is $33.06.
Lets round that down to $30.

Work a 40 hour week, as an 18 year old kid out of high school, 50 weeks a year = $60k

If your still at home with mum and dad, bills are bugger all, you might be paying nominal board, but essentially you can save a large wack of your salary. You aren't paying a mortgage, or rent, you aren't paying school fees for kids, etc. 18 year olds should easily be saving 25% of their wage, IMO.

After 3 years you have a $45k deposit.
Buy a unit for $250k, putting down $25k deposit, $20k closing costs and a $225k mortgage.

Sure its not the most glamorous place, but you can do it. It's a starter. Get your foot in the market and after 3 more years, upgrade if you want, or don't, its up to you.
And if you want something better, wait a few more years, why do you need to buy at 21? Wait til you're 25 and you now have over $100k saved.

But lets say you push ahead at 21, Now if you want, put a mate in the second bedroom, get $125 a week off him, that helps.
Instead of going out both Friday and Saturday nights each weekend, go out one, and babysit the other, not only do you save cash, you also put $150 cash in your pocket.

Just those two things alone put you nearly $20k up at the end of the year.

Life is about choices.
Growth is about initial sacrifice.
Delayed gratification doesn't really exist these days.

But I get accepting that truth is difficult for some, and its easier to just blame the government and/or boomers.