Quote:
Originally Posted by car10002
If you think about it back in our grandparents day you never had the loans and assistance that you do now and it was a lot harder back in their day then it is now and things were cheaper but you didn’t earn as much or get the extra grants that you do now so it sort of evens out
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There has been plenty of coverage on this.
House prices grew so fast that people couldn't save a deposit fast enough before prices rose again and their required deposit went up.So couples would start saving and reach their $20'000 deposit, but by then the market had gone up and now they needed $30'000. So they started saving the extra $10k but by the time they did, they then needed $40'000.
Do you see what I mean? It was in the news fairly often, there are probably plenty of articles floating around with people talking about it.
Back in our grandparent's day they could get a loan and the faster they paid it off, the less interest they paid. So yeah you could go without curtains and a tv for a couple of years while every spare dollar paid down the mortgage faster. Not so anymore. You're strapped into near-poverty for decades.
They could also get a job straight out of school and it'd pay enough to buy a house, start a family and live comfortably to the point they could stay in that one job for the next 40 years, even off just the one income. That's also not so anymore.
Quote:
Originally Posted by car10002
How come our grandparents generation were happy to save a little more and wait longer and people of today won’t come up with more than they have to and get it quicker
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Because it's bloody hard to pay rent and save for a mortgage at the same time. The longer you rent, the less you can put towards your mortgage. What you're suggesting is an easy call to make if you can live out of your parents' basement free of charge which then permits you longer to save. Not everyone has that luxury.
The things you're comparing aren't really able to be compared. The game has changed and the picture you're painting isn't very fair.
Are you legitimately curious or just looking for a way to rag on younger generations?