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sleazius

FINANCIAL MEMBER
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About sleazius

  • Rank
    Ferry's Protegé

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  • Location:
    Sydney
  • Ride/s
    2007 911S, 2018 GT3

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1,136 profile views
  1. Start your own business doing it. Unfortunately you'll need to wash them, and they will likely crap themselves. The rates are currently $1100 a day per person (not a nurse, two 12 hour shifts - 24hrs) for in home care in Sydney. 1.5x on Sunday, and double time on public holidays. That is if you can find anyone to do it (good luck). Took us 3 months to find anyone who had the staff to do it. FYI, if the patient is immobile, most services consider you a 2 assist, which means $2200 a day.
  2. I never said boomers were evil I just want to point out! Just that there is a global demographic change heading our way. I'll just address a couple of things, if nothing else at least my post got people thinking! Re: the "the next generation will inherit" this is simply not true. I don't know how many of you have had a parent in aged care yet, but it gets expensive fast. My father-in-law is spending $200k a year as we speak. If he lasts as long as my grandmother did (15 years) there will be no estate left (she also died with no estate). How many boomers are retiring with $200k+ in passive income a year? I wouldn't think more than a few percent. Thankfully I neither need the money or care what happens to it as it isn't mine. The point is, the majority of my generation have no savings, and are relying on an inheritance, an inheritance that may likely never materialise. I used median precisely because it isn't skewed like averages are, it is the middle score, not an average. That said, I was playing slightly fast and loose with the stats, given that median income and median mortgages aren't directly correlated (some on median incomes might have owned a home for 15 years, others might be starting out and have an $850k mortgage), however it is a simplistic illustration of the problem at hand, and there is a problem. Comparing Australia to Japan is silly. That is like saying "well their house burnt down and we only lost half of ours so we're better off". We're both worse off in that scenario. Japan is facing a demographic catastrophe, thankfully we're better placed. The numbers in the population pyramid don't lie, we'll have twice as many people in aged care in approx 7 years as we do now, and double again 5 years after that. Here is a great website to check it out with actual numbers of people. https://www.populationpyramid.net/australia/2019/
  3. Disclaimer: Not financial / investment advice. If the median house price in Sydney is $1.027M, and the median weekly household income in Sydney (2016) is $2099 -> $109148, and even though that data is 3 years old, there has been limited wages growth so ... Houston, we have a problem. What is more likely, 150% wages growth in a very short amount of time, or a proper correction in house prices? If the boomers own the majority of the assets (this ones not up for debate, they do), and the chinese aren't buying, who exactly are boomers going to sell to? Given that is the median household income, I'm willing to bet that Gen X and younger largely fall on the wrong side of that. Its not rocket science. Boomers have driven up asset prices across every class in one almighty bubble, and now they're hitting retirement and want to deleverage who do they sell to? This change is being driven by demographics, nothing else. The oldest boomers are 73 right now. By and large they own the majority of the assets, not just here, but worldwide. Give it another 5-7 years and they'll start moving into aged care en mass. I'm in the health field, I can tell you there isn't enough aged care to cope with the coming tsunami, nor is there enough people to provide care for them all unless wages in the field are dramatically increased. We effectively need to double the amount of beds across the country in the next 7 years. For people my age and younger, one of the biggest opportunities heading our way is investment into companies who are catering to this market. Preferably those that cater to the high end. Either care in the home, or gold plated aged care facilities. If I had to guess, I'm also betting on some form of death tax being introduced. Either indirectly by ratcheting up the cost of aged care, or directly with a raft of new taxes around asset transfers. There just won't be enough tax payers to support all the oldies. Its not doom and gloom, its just a demographic change. I'm also not saying that *all boomers will get caught out* but if I was at the tail end of the boomer cohort I'd seriously be taking a good look at my investment strategy over the coming decade. Your mileage may vary, and some will do better than others because of chance or other factors. But if your investment strategy is '3 houses 50km from the city' like so many people I know, yeah, might want to change that up.
  4. I've been singing this tune for a few years now. Pile into aged care, that's where the returns will be. You've just got to keep following the boomers until they're gone if you want to make money. It will be a bit of a blood bath in RE for them, but ultimately, if on average your generation owns 4.3 homes, and over the course of your life they've increased 20x depending on location, does it really matter if there is a bit of a correction? You're still the richest generation that has ever lived by a long way (on average). To me it looks like the high end is going to be the hardest hit. Not many gen Xers or millenials have the scratch to cover a $5M+ property.
  5. Probably some strong gains in RE market short term till it goes seriously tits up. GFC eat your heart out. Going to be completely out of our hands and the ammo cupboard is bare. How long before the Aussie is trading at 50 cents if they try QE? I give it 3 months.
  6. Serious $$ for a garage queen. Probably won’t stay on our shores at that money.
  7. I’d take it sight unseen at $95k. It’s got to be worth more than that to the right buyer.
  8. Wow. Getting up there.
  9. In the best interest of the dealers to tow the line on pricing. It's only a rort if you aren't in on it.
  10. The answer to a question no one asked.
  11. I missed this somehow. I don't think I ever saw it run up the hill. I guess we just got an answer as to what might be in the back of the next GT3. Looks like it was parked in the Super Car area, but I only went there once, and the Porsche stands were empty except for the two Singers. Dug through my phone - no RSR - however consolation 935
  12. Envy makes people do stupid things. It's got nothing to do with the car, and everything to do with the expense of the car. Tall poppy is alive and well. Funnily enough I daily drove my Speed Yellow 997 for a period of about 9 months and never copped a single negative comment. Living in the outer west of Sydney has its benefits. The only time I ever caught anger was whilst driving the car a lot closer to the city (Blacktown to the Inner West). Many weird road rage incidents that had nothing to do with my driving. Tail gating and being cut off etc.
  13. Don't think that is the original harness (someone correct me if I'm wrong). Serious track kms? edit: I had a look at the photos again, there are close ups of panels we aren't interested in, but none of the ones that cop damage at the track. First guess is well used track car.

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