Comments by "Helmuth Schultes" (@helmuthschultes9243) on "Data That Shows Australia Punching Above It's Weight" video.

  1. One caution I suggest is to not examine the average home costs as a pure number. While the pure number looks high, also the average income has to be considered. I have little feel for real average annual income, both Gross income AND what remains after tax (taxes) and basic community costs, so what remains as disposable income, that remains to pay for living expenses like food, clothes, energy (electricity, gas, car fuel) and what is able to pay off any required mortgage in reasonable time, say 15, 20 25 years, or less if feasible. Keep in mind in some countries .outrages can be huge time burdens beyond a generation, of 80 years for example. Taking current Victoria average of, from memory in this video, like US$ 660,000, so at current exchange more like AU$ 1 million. Truely scary for many younger generation, especially the saving enough, to qualify for that loan to even endup with a mortgage, and have that first home, often associated with starting the family, with baby too. But average wage is more like AU$80,000 so let us call the average home about 12 years of gross wages. However the modern home is now usually somewhat larger, spacious, well constructed, fully with airconditioning, double car garage, etc. My parents arrived end of 1959 as migrants, with a few possessions I wooden crates, little but prospect of starting a new life here. Our family was two adults, two children 8 and 12 yrs old,plus a cousin just on 20 yrs old (WW II orphan) My parents got jobs as assembly line workers, with GROSS annual income summing both, of barely over £950 (pre decimal times). They in six months took on purchase on 25 year mortgage, of a by current standards small home, and land for £12,000 only basic weatherboard wooden frame house, tiled roof, by current standards half the home area of lowend basic homes. All small dimensions, with 1 master bedroom, 2 small bedrooms, lounge, kitchen, small bathroom with bath tub, wash basin, outside access small laundry room that would not take more than a small washing machine and moderate wash trough, and a outside entry toilet room, no sewage, just weekly collected bucket. The lounge just big enough for a fold out sofa, couple of chairs not big enough for more than a small coffee table that had to be pushed aside to fold out the sofa, that was my parents bed for some 11 years, as the three bedrooms were children and cousin bedrooms. The master bedroom would now be regarded small as a children's room, the smaller bedrooms space for children size bed a small wardrobe, bedside table. There were no walking closets, no pantry. There was no car garage, just level bare ground no landscape garden. Fitted equipment 4 burner gas stove/ oven, lounge gas heater, on demand flowthrough gas hotwater , power points 1 each room, ceiling lights each room, no other appliances or furniture, no carpets. All extras were separate purchased, some furniture, small tables even some chairs, constructed from wooden crates used for possessions. A 17" B/W TV was already bought in the 1 yr delay as the home was being built, while we rented a house. That kind of property would by current standards not cost over $400,000, of which land would 75% of that amount, yet the £12,000 was comparable to over 12 years gross wages for my parents, and took 25 years to pay off, and still needed construction of a garage that also to q car space had a small Worksop and a laundry room, allowing the old house laundry space to expand kitchen a little allowing better space for the dinner table that made kitch space tight at dinner for 5 people, as dinner table would not fit in lounge space. Yes we expanded over the year adding house extensions doubling lounge and adding a extension bedroom, a new bathroom. By the way in today's market, even with all improvements, extensions and garage, the property is barely in the $800,000 value range. For what the present average AU$ 1 million buys, the average wage earner from two persons working, say at least $120,000 sum gross income, the housing is MORE affordable now than I the 1960s. A lot more is expected and you get people want everything and the best I.mediaty. There are so many more, Expensive, things,cards, huge TV, fancy mbole phone , computer/tablet, electronics ingeneral, appliances, all THE MUST HAVE being. From my view, it is attitude not price that puts people off owning a home, location, features, style, all and everything demands and unwillingness to save, plan and make do.😮
    2