Thread: So what will a depression do to you.

Same here spuddy.

We are animals. We need shelter from the elements, nutrition, hydration and love. Everything else is sundry and not nearly as neccesary as we have grown to believe.

I was planning to retire ( or at least stop full time work ) in a couple of years, but now the numbers are not adding up, so may need to review that.

Last year I dug up our lawn and planted fruit trees, started growing veges, put water tanks in the backyard, just as a hobby. That may turn out to be a wise move, although a bit of a "Good Life" fantasy. If cost of veges and fruit go beyond affordability that creates health issues, and your health is more important than your finances. How many suburban backyards these days have ( or have room for ) a vege patch ? Forget the "al fresco" dining area and pool and put in a water tank and vege patch, I say.

We are just as happy bush camping , with only the cost of fuel to get there, as going on overseas holidays.

I think most people with that type of attitude will come out OK.

I suspect those that must have their McMansions, four star holidays, new cars every two years, the latest and greatest plasma TVs and appliances, and have their kids go to the best private schools, will be the ones getting a bit of a shock. It seems these obsessions are more driven by social or family or peer pressure ( "keeping up with the Joneses" mentality) than actual need.

That's my socialist rant for the day.

Originally Posted by Psimpson7

I am fully aware of the fluctuations in the house market, and if it does drop, it will go up again, but saying you want it to happen is probably not a particually sensible comment.

It's not just my children (they are only 2 and 5)... it's everyone's children. I didn't want it to be a case of a whole generation not being able to achieve the aussie dream. I remember telling work colleagues this was un-sustainable in 2004.

I am genuinely sorry for any offence.

We will likely weather it, my family is in a better position than the last recession (we had to have).

Sadly people will still get sick and have accidents so my work will likely remain stable enough and dear wife is in Govt dept. Fairly sure we will hold onto the basics. Ive stopped paying additional into my super and sent that money into the mortgage.

People still need shelter and we have never charged top dollar for rent, so even if this drops we hope to still hold onto our investment property.

Cautiously optimistic for my family, very concerned for some relatives and friends.

Originally Posted by Captain_Rightfoot

It's not just my children (they are only 2 and 5)... it's everyone's children. I didn't want it to be a case of a whole generation not being able to achieve the aussie dream. I remember telling work colleagues this was un-sustainable in 2004.

I am genuinely sorry for any offence.

With the greatest respect to all concerned - I don't really think you have anything to apologise for Captain. Your comments regarding the entire economic situation in this and other threads are , in my opinion, pretty close to the money.

The situation we now face where property values are going to (and indeed are now) fall causes emotive responses, and quite understandably, as many people have always followed the old addage of "safe as houses" etc. But one difference with property investment is that pricing must ultimately be affordable - otherwise very few investors can participate. This is where we are now - property is over priced - as in it is not affordable to the majority. And we all want our kids and loved ones to be in a position to prosper in the future.

Well I hope to retire next year,but that's not going to happen now,my supa has plummeted,from what it was a year ago,so looks like I,ll be working for a few years to come....no good whinging about it,just have get on with it.......hope I don't have to sell my defender,as long as there is work I,ll be all right

Originally Posted by longreach

Well I hope to retire next year,but that's not going to happen now,my supa has plummeted,from what it was a year ago,so looks like I,ll be working for a few years to come....no good whinging about it,just have get on with it.......hope I don't have to sell my defender,as long as there is work I,ll be all right

your avatar is very appropriate then

Originally Posted by Captain_Rightfoot

It's not just my children (they are only 2 and 5)... it's everyone's children. I didn't want it to be a case of a whole generation not being able to achieve the aussie dream. I remember telling work colleagues this was un-sustainable in 2004.

I am genuinely sorry for any offence.

I'm with you Captain. I don't understand why people look at their houses and think it is great they have doubled in price in 5 years or so. Why is it good?
Unless you own a bunch of them. As if you want to sell and cash in on your 'investment' then where are you going to live?
All it does is make it harder to get into the market for those not in it and make the people with multiple houses richer.
I'm all for getting richer but not at the expense of other people not being able to afford a place to live.