this post was submitted on 28 Apr 2024
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We compared the finances of 30-year-olds now, to 30-year-olds 30 years ago (www.abc.net.au)
submitted 7 months ago by trk@aussie.zone to c/australia@aussie.zone
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Feels bad man

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[–] trk@aussie.zone 2 points 7 months ago (2 children)

The problem is if it were sold today it’s a 100k loss.

How does that work? House prices have been going up since forever. Even if you bought at the highest peak and sold at the lowest trough of the last 5 or 6 years (if not longer) I'd be surprised if you managed to lose money on a house.

[–] Aussiemandeus@aussie.zone 1 points 7 months ago

Because one house is in the northern Territory and property prices fell out the arse after the gasplant build

[–] Nath@aussie.zone 1 points 7 months ago

It's a myth that house prices always go up. There are plenty of apartments in Melbourne CBD around $400k, which is what they cost ten years ago.

Yes, nice big 4 bedroom two bathroom houses in nice suburbs have massively increased in value. But the bottom end hasn't moved nearly so much, because the buying power of the bottom end purchasers hasn't increased by that much.