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When I was 15 (Read 355 times)

Sir Grappler Truth Teller OAM

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Re: When I was 15
Reply #15 - Dec 13^th, 2025 at 12:59pm

Dnarever wrote on Dec 12^th, 2025 at 8:55pm:

Sir Grappler Truth Teller OAM wrote on Dec 12^th, 2025 at 8:39pm:

Yes - but I'll say it again...... in the lat 1980's a bloke where I worked bought a house in Marrickville for $45,000.... on about $600 a week.... now the same house would cost you $1.8m - twenty times the late 80's price -and if you are VERY lucky - you might bring in - before tax - $1500 a week...

Now you were saying? When I was fifteen I finished high school - A class and final year - child prodigy you see..... and due to poverty the Army gave me my first good pair of shoes when I joined at just under 17. Unless you were rich or had a solid family - you didn't go to uni then...

Quote:

the lat 1980's a bloke where I worked bought a house in Marrickville for $45,000..

In the early 80's I monitored a conversation where a guy was talking about buying a place at Glebe for $80K. Around the same time I bought a place in the west of sydney for $73K. $45 at Marrickville doesn't sound realistic at that time, maybe 15 years earlier unless it was falling down.

Late 80's was about the time of the start of the mad rise... I bought in Canada Bay for $185k in 1991.... I'd only need to be within a couple of years for that to escalate from around $80-$100k. The gold rush began in the late 1980's primarily due to the MADIF and guess what - immigration policies alongside government policy of 'investment housing' .... and hasn't stopped yet.

Even if we accept your figures - incomes have only gone up 3+ times while housing costs have gone up at least 10-15 times...

“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
― John Adams

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Sophia Gold Member Offline Posts: 9286	Re: When I was 15 Reply #16 - Dec 13^th, 2025 at 3:52pm The mid 80’s was a mad time when properties boomed double! I had a friend that sold her 3br brick home for $30K and banked it and waited to buy back in. Because of the doubling where similar house went to $60k…. she got left behind and never caught up. Whatever the market is doing, sell/buy in same market.
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Leroy Gold Member Offline Australian Politics Posts: 4038 Gender:	Re: When I was 15 Reply #17 - Dec 13^th, 2025 at 5:21pm I worked in real estate in the late eighties and on the wall in the office was a photo of an old man, underneath it said "photo of a young man waiting for the price of real estate to drop". I found a reference to it on facebook. https://www.facebook.com/share/v/1A7Q44kaBe/
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Sophia

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Re: When I was 15
Reply #18 - Dec 14^th, 2025 at 9:52am

Leroy wrote on Dec 13^th, 2025 at 5:21pm:

I worked in real estate in the late eighties and on the wall in the office was a photo of an old man, underneath it said "photo of a young man waiting for the price of real estate to drop".

I found a reference to it on facebook.
https://www.facebook.com/share/v/1A7Q44kaBe/

Yes I remember that pic.

We were in real estate too… buying, renovating, renting, then fixing/cleaning up again after tenants move on…then renting again… etc etc until we decided to sell to pay off and lower investment loan amount. We knew a lot of RE agents. But I had a formula that worked out at the time and friends asked how, I taught them and then they went on to invest.
Sigh… those were the days. When we could borrow a lot and buy to our hearts content.
Now times are so different.
Hubby and I often say, lucky we did what we did at the time because we can’t borrow much anymore now.
This, is what risk and opportunity is about.

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