Now do stamp duty. When I bought my first house in the 1980s it was 0.5%. Now it's 5%. Where I live the medium house is over $1,000,000, making stamp duty a ridiculous $50,000.
Notwithstanding that the states were supposed to abolish stamp duty when the GST came into effect. Stamp duty is the most absurd tax there is. How can the government justify taking 5% of the sale price to “stamp” the transaction, something that doesn’t even happen anymore - it’s all automated!
I'm a British Boomer and I always tell young people how easy we had it and how much we could just doss about listening to vinyl and sampling substances. But one big difference was, no one single bought a house back then, and rent was so cheap, and jobs so easy to come by no one wanted to own property. In fact owning a house was seen as deeply uncool.
Wish we had more self aware boomers in Britain! Love your comment, sounds like you've got a wealth of great times and memories from your younger adventures. Cheers from a British Gen Z-er 😁
No. we went to work straight from school - very few of us had a gap year, I got to go overseas in my 20s, but the experience was slightly marred by the fact that I was carrying a rifle.
Mate, if I ever see you out, I'm shouting you a beer. It's been a frustrating journey dealing with myopic boomers who insist on disparaging other generations incessantly.
I have been traveling the world for 13 years and have managed to lose the cash value of 3 X 3bedroom two story homes trading stock options so it is very possible that you can travel and save money for a house
OK, this hurts. I have said exactly this to my son, and now realise it isn't as relevant as I thought. Love your videos.
Tell him that.
Travel all you want, you will soon realize everyone else in the world, sans rich folks, have problems just like the rest.
I went overseas so I could afford a house!
How did you acquire citizenship for your new country before buying a house there? Isn't that typically lengthy and expensive?
Me too. No citizenship needed. But I am now a permanent resident.
@@Zihark_ yep but there are countries where that is possible, for example Japan.
@@Zihark_ Marry a local or rent.
Now do stamp duty. When I bought my first house in the 1980s it was 0.5%. Now it's 5%. Where I live the medium house is over $1,000,000, making stamp duty a ridiculous $50,000.
Notwithstanding that the states were supposed to abolish stamp duty when the GST came into effect. Stamp duty is the most absurd tax there is. How can the government justify taking 5% of the sale price to “stamp” the transaction, something that doesn’t even happen anymore - it’s all automated!
Amazing content Mate, keep up the good work.
This deserves more views
Love this guy
I'm a British Boomer and I always tell young people how easy we had it and how much we could just doss about listening to vinyl and sampling substances. But one big difference was, no one single bought a house back then, and rent was so cheap, and jobs so easy to come by no one wanted to own property. In fact owning a house was seen as deeply uncool.
Wish we had more self aware boomers in Britain! Love your comment, sounds like you've got a wealth of great times and memories from your younger adventures. Cheers from a British Gen Z-er 😁
Omg, a self aware Boomer, they DO exist! 😂😂
Even us older millenials have it better than the younger generations. Things really have gone to 💩
Thank you.
Love your work
So the more we can travel, the more expensive it is to stay.
gen x'er here, and yes, you are correct sir! and 2 houses not just 1!
No. we went to work straight from school - very few of us had a gap year, I got to go overseas in my 20s, but the experience was slightly marred by the fact that I was carrying a rifle.
Just because the opportunity cost is less, doesn't mean it's zero.
Mate, if I ever see you out, I'm shouting you a beer.
It's been a frustrating journey dealing with myopic boomers who insist on disparaging other generations incessantly.
but they're right.
As long as you don't have avocado sandwiches in London!
If u can't pay it from investments it means u can't afford it
People have money to travel?
Make sense
I have been traveling the world for 13 years and have managed to lose the cash value of 3 X 3bedroom two story homes trading stock options so it is very possible that you can travel and save money for a house
Now imagine if you just put that into index funds instead hmmm
The error is that the old London is not the same as the modern London. London today is much more crowded.
Isn't this a maths problem? If you keep travelling, you are gonna use up savings
The government ensured I was able to go over seas and buy a house. I just needed to sign on the dotted line and give them my life.