In 1985, a house would be 2x your annual salary

In Australia we had a period qhere the government was matching superannuation contributions. So the boomers were doubling their own super from government funds, bought up all the housing using negative gearing tax laws they now want to roll back, and now they want the next generation to retire at 70. Bunch of cunts

>just buy a cuckshed in a rural area bro
>meanwhile boomers could easily afford houses in the center of big metropolitans

Ok wise guy, go buy a $1 house in Detroit and stay the night in it. Live stream it so we can watch you get murdered.

Back this up with any data faggot

welfare for the rich

job search agencies for the poor

thats straya for ya

Haha that's nothing sir, here in Bombay a 2000 sqft apartment costs $2 million usd which is over 1000 years worth of salary for an average man making $1200 usd a year (nation median income according to the government)

The world government is finally going to admit the Earth is flat and Australia is going to fall off the planet since it's upside down.

>gen xers and zoomers all want to live in the city
>hurrr why are citiies getting larger and property prices are through the roof

retard

>23
>102k AFTER taxes
>bought a 700k house a few months back

AMA

And don’t forget that 60% of our taxes go towards people above 50 of which 40% go directly into age care.

I wonder if we, the ones that actually pay for it will have the same benefits..

Government pays 100-300 dollars a day per granny depending on the level of care required but apparently young people is to blame for the welfare state because we get student loans lmao, the absolute state of boomers

Good goym

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its 15x where i kive

it the EU it is literally 18x annual salary

The average salary vs the average dwelling. And let me tell you the average dwelling is FUCKED UP.

s t o r e
o f
v a l u e

There are still nice houses in the midwest for under 100k.

Nani the fuck? How does that even work?

Papua New Guinea - 181.6x
Congo - 153.16x
China - 40.8x
Japan - 19.85x
Australia - 15.49x
United Kingdom - 13.13x
New Zealand - 9.46x
Canada - 7.59x
United States of America - 4.18x

towergateinsurance.co.uk/commercial-property-insurance/house-price-income-ratio

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>in 2018, a house is less than 2x my salary

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In Uk the cunts have raised retirement age to 70 and you can get a mortgage till age 80 to make it more affordable.

The Jew bankers created this fucking mess and now have us by the balls till we drop dead.

Osaka is cheaper than I expected. Nice place.

South Bombay, all the daddy's money people live her sir. Even the richest man in Asia mukesh ambani lives here in the most expensive house in the world, his house costs $2 billion usd sir.

Literally this imagine a beautiful rural countryside town with a bunch of Jow Forumsbois in it we would have nice roads and a great school
we can here the distant explosions out in the wood
where the Jow Forums tribe lives

I wish I had more homies (not more people just less old farts) my age in small town USA

Average salary is 50k. You can get a house for 100k.

Private, invite-only towns built from the ground up is what I intend to create in America for fellow anons who endured through this past decade. Many here have similar desires.

kys boomer apologist

youtube.com/watch?v=bH-nBcrTwYI

I'm liking this wavelength we are on I was thinking something similar like residency applications
Perhaps even children of the parents must apply for land when moving out but they will be protected if the parent inherits them the house

I really wish we could get a whale here to fund such a thing start off with 2k acres build some real estate write town bylaws list them under the application and work are way up from there

BLAME CENTRAL BANKING AND GOVERNMENT POLICIES

WE NEED A FREE MARKET

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a house here is 40x my current salary

lol yeah drop 150k on a shed in rural areas which will all be depopulated once the boomers die off

good idea

There's a Royal commission in Australia at the moment. They're uncovering a shit load of mortgage fraud that's been going on. Literally bank managers accepting envelopes filled with cash to give out huge mortgages people can't afford. Plus the Chinese money is going in reverse.

yeah well you faggots are also "entitled" to a new iphone which is like 2 months pay .

stop sppending money on dumb shit and buy a goddamn house

Next stage of the NWO's plan.
1. Pump the biggest global credit bubble in human history
2. Let it drop and ruin everything
3. Blame the current systems rather than the debt (e.g. ebil nationalists, trade wars, EU referendums, etc)
4. Put forward a solution (i.e. a single global currency)
5. Use global currency to control the world and create the one world government

>it's those damn millennial wasting their cash on avocado toast
You dumb, fucking faggot.
This isn't a buyer's market.

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it's literally an objective fact that single family starter homes have not been being built in the last 10 years and there's a shortage of them right now.

you're just another retarded brainlet who spouts opinions on Jow Forums without knowing anything about markets or reality

i bought because im not poor

One of my boomer relatives actually tried to defend this saying "well back then we didn't have expensive smart phones to waste money on so we could afford houses". Really bitch? I can't afford a house because I spend $700 every 2 years on a new phone?

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>you can still buy a literal shack in a shitty nigger neighborhood

Thanks based boomers

What do you think you're doing when you pay 10 times as much for an apartment in the city?

A house is still 2x my household income.

>There are people ITT that think houses aren't massively overpriced
Living in your mom's house is not the same as own your own.

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They're overpriced. We will see a sharper correction than 2008 soon. But it's also a result of inflation.

The current housing bubble is almost entirely driven by corporate entities buying up homes en masse and renting them out.

The government gave the top earners and corporations in the country massive tax breaks and years of easy credit and QE.

Everyone knows they are overpriced but people still need a place to live and Mr Goldfarb is more than happy to loan you 20x your salary for 50 years @4% variable.

>correction in 2008

Nigga prices stayed the same people refused to take losses just nothing sold and those that did was few and between. The only real correction was the sercuities which are still as fucked as they were then. Boomers thinking their poorly kept house is worth 300k is only going to stop once they're all dead.

Yah know, kids this day, they are just lazy. The things I worked for, they just want them, and they think they're hot stuff but they don't know shit.
MARYLOU! How many times do I have to tell yah, keep the Monster stocked, woman!

Wow.

Where I live anything under $200k gets you a piece of shit.

$50k is a good salary and that's STILL 1/4 the total amount to get a piece of shit house.

THANKS FOR THE PONZI BOOMERS ENJOY GOLFING 4 DAYS A WEEK.

It's totally true.

My GF's dad got a job at GM motor company in 1980. WITHOUT A COLLEGE DEGREE, he was able to earn about $28k a year. A nice house back then could be bought for $100k. With conservative spending he could literally pay off a nice home within 5 years.

Shit is retarded. Just look at current polls. nearly 60% of millennial cannot afford a home, and when asked were "seriously concerned" about debt.

As (((economists))) intended all along

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i bought a condo that's less than 1x my salary

economist.com/graphic-detail/2016/08/24/american-house-prices-realty-check

looks like it's more like a double in price rather than the quadruple that OP argues.

>6-10x your annual salary

LOL in which poor shithole do you live?
Here it's at least 30x.

BOOMERED

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Boomers won though.

If they bought a house in the 1970s by the the mid-80s after a decade and half of inflation, my uncles utility bills were more than their mortgage. A lot of my friends parents bought multiple houses because it was practically gifted by inflation.

Those house prices skyrocketed to insane values my late 1990s and 2000s and now are astronomical compared to what they paid for them.

On top of that they have fortunes in from the bull run market in the 1990s and right at retirment from the bull run market in the last 8 or so years. They're laughing at us.

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that's why we're moving from the fiat standard like they moved from the gold standard. I wonder in 10 years from now how many houses will I be able to purchase with my cheap bitcorn bags

yea, but you have a smartphone, so it cancels out.

t. boomer-leech that destroyed the country at least 3 generations into the future

And intrest rates didn’t change?
Nice larp brainlet

lmao me and my gf are literally living with parents for 3 years so we can put down a deposit on the absolute cheapest house on the market

you need at least 2 people to buy a house these days

unless you want to live in a 1 bedroom flat surrounded by subhumans and drug addicts

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This is not larping idiot. This is a well known fact.

quora.com/Did-people-who-bought-houses-in-the-70s-essentially-get-the-house-for-free-Was-the-price-so-low-that-the-cost-and-or-debt-was-inflated-away

And they didn't scam you with ARM mortgages back in the 1970s. They were all pretty much fixed.

> Adjustable rate mortgages returned to the market during the 1980s under the discretion of the Federal Reserve.

mortgagecalculator.org/helpful-advice/american-mortgage-history.php

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everybody complaining about why home prices are so high today and so cheap before. it doesn't matter really. in the same time period, stocks have always returned far higher then the return on a property. sure there are exceptions in localized areas but the same is true for some particular equities. the world has gotten wealthier from equities and those people have money to spend on whatever they want, properties included.

Larping moron?

> I looked at the house I grew up in bought in 1973 for $45,000 and noticed it had sold in 2015 for 2.55 million. I looked at average median salaries for a HS teacher and in 1973 it was $11k so the house would've been about 4 years worth of salary. In 2015 a HS teacher made $57k median. So that would be about 48 years of salary for the same house. I

> I have a family member who was an electrician in the 70s in the union, making $40K/year. His first home cost him $16K...that was in 1971 or so. It was a 5 bedroom victorian that today would sell for $300K.

> In 1972 I bought a little 2br/1ba cottage-like place in Silicon Valley, on the San Francisco Peninsula. It was nothing special, built in the 1930s, and had originally sold for something like $3,500. Its main “feature” was an AM radio built into the kitchen wall. It sat on a 50-foot wide lot on a fairly busy residential street. I paid $23,600 for it. Seven years later I sold it for $56,000 to a relative, and that was a pretty fair price for it. My relatives remodeled the kitchen, and kept it until 2003, then sold it for $630,000.

quora.com/Did-people-who-bought-houses-in-the-70s-essentially-get-the-house-for-free-Was-the-price-so-low-that-the-cost-and-or-debt-was-inflated-away

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lol boomers act like it was hard, but their own words confirm the memes are true:

"Shortly after I graduated from college, I got my first job. It paid $10,000 a year. A few months later, I bought my first place—an efficiency condo for $29,000. I’d saved up enough money from summer jobs (such as $1.15 an hour at a Baskin-Robbins ice cream store) to be able to put 20% down. So I had about a $22,000 mortgage at 8% interest. My mortgage was around $250, and the condo fee was about $60."

this. varies a bit depending on the specific country, but the ratio is pretty much like this.

First understand that despite rise in housing price, rise in stocks was 10x more. So the people who happened to have their money in bluechips could easily cash out 10% and buy a house, even though house price rose significantly.

Second, foreign investors, noticeably chinese, are cashing in their monopoly money into usa assets for safekeeping. Our government completely sold us out.

Third, we are all living in the late stage cycle of western civilization. If boomers lived during caesar as an elder, we are living in the era of nero.

We are only here to be exploited as our owners try to hang on to society as long as possible. But the collapse is inevitable.

We will teach our children only one thing. That in eras of exploitation, you MUST VIOLENTLY REVOLT. Its either that, or become onions faggot cucks like we are, staking our lives on shit like CHAINLINK out of utter despair.

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Look, we're fucked

Too many people have mortgages, so we can't build more houses to lower prices, because then people will go into negative equity and get fucked. 2008x1000 will happen

This is the secret why they cant build houses.

Lower house prices will completely kill collateral. As a banker, i know this. We do 80% ltv loans. 20% may seem like a lot of cushion, but its not. At all. The system would collapse.

My gramps bought a house for 28k while making 10k when he was 30 and had a bachelors degree. He was an accountant. He’s now 84 and the house is worth 800k.

Yeah but the places where you can buy a 100k house, the only job openings are at Walmart and pay $8 an hour

Only because you insist on living next to 7 million people. People will SEETHE but this is fact.
>live in bumfuck nowhere?
There's cities outside of NY and San Francisco.
It was a lot easier.
In Melbourne, you could literally step off a boat from Greece with no skills whatsoever, walk to the nearest factory and get hired on the spot.
If you didn't like the job you could walk right out the door to the next factory.

I saw a chart a while back on the inflation adjusted income of doctors over the past few decades. In the 1970's the average doctor made the equivalent of almost a million dollars a year. It was pretty much a golden ticket to the upperclass.
My grandparents were lower class and they bought a fucking apartment complex in san francisco.

give me a break, by dollar value, foreign buyers make up just 5% of all US sales using the most current statistics. the price of housing is not dictated by 5% of the market, it's dictated by the 95% percentile, which are Americans.

damn son, your gramps bet on the wrong horse. 28k over 54 years would've yielded a lot fucking more then just 800k. actually from 1973-2016, 43 years only, would've yielded him 3.25million in a sp index.

Houses in good shape in decent areas around me start around $175k. I'm about to close on one for $181k. I make about $45k and gf makes about $32k.

You certainly can find shit houses for like $150k, but they're not houses most people other than investors/flippers want.

You should have bought the dip. I got my house in 2009 for 2x my annual salary.

You aren't wrong.

>WHY CAN'T I BUY A 200K HOUSE IN SAN FRANCISCO IT'S NOT FAIR

>Can easily get 2000 sq feet for 200k in the midwest

>EW WHY WOULD ANYONE WANT TO LIVE THERE

and then the government will flood it with infinity niggers

vancuck here

16-20x median gross now

youtube.com/watch?v=z_EqZrreW4g

>houses in japanese cities which are overpopulated as hell are affordable
what the fuck?

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Looked this dude up. If I had 40 billion dollars I wouldn't build a private skyscraper in India though.

Isn't much of the world economy de facto tied to real estate prices? Lots of small businesses use home equity lines of credit, boomers take out home equity lines of credit, banks (especially in places like Canada and Australia) are massively levered up on the housing market, lots of companies use mortgage-backed securities as collateral to borrow against, rich people are storing their wealth in empty houses, etc.

japan has very little restrictions on what you can build on your own land.

why does it look like she's holding a massive dong

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maybe 2x your wage, white collar cuck
i live in southern ct and can buy a house on the water in a year and a half of work

pic related

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>t communist cuck

just work hard lmao you faggot

Pls not again the biz offshore welder 400k$ a year meme.

500k, lurk more.

Thats the plan but it is failing so far.
Globalism is losing and nationalism is going global.
If they don't get a big war, they lose

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