Latest news with #Boomers
The Advertiser
a day ago
- Business
- The Advertiser
We're trading repairs for housing affordability
SINCE 2022, there have been regular flooding events occurring along the entire Australian east coast, from north Queensland through NSW to Victoria. They have resulted in tens of thousands of homes damaged or destroyed. Houses damaged and destroyed in the Lismore floods of 2022 are still being repaired or rebuilt so that their owners can live in them once more. Flood events since then have occurred in Cairns, Ingham, Townsville, Brisbane, Kempsey, Port Macquarie, Taree, the Hunter Valley, the Sydney Basin and areas down the south coast into Victoria. That's all within just two and a half years. All areas hit by such disasters require renovation and rebuilding of people's homes. In the most recent floods, authorities estimate 10,000 houses have been affected. Thousands of tradespeople are engaged in the repair and reconstruction of these homes. With so many tradespeople occupied in these rebuild programs as disasters keep coming, the workforce required to construct the large numbers of new houses to address the general housing shortage just doesn't exist. Trying to train substantial numbers of new tradespeople to address the scale of the shortage seems impossible. It is reasonable to presume that more disasters, such as floods and fires, will provide plenty of ongoing reconstruction work and take large numbers of tradespeople away from new home builds. In two or three years, I expect they will still be repairing and rebuilding homes in Kempsey and Taree. Substantially reducing immigration into Australia for a number of years to allow a catch-up in the workload is required. The problem with that, of course, is that to maintain our economy and standard of living, it is reliant on an ever-increasing level of migration into this country. Many people would be surprised by how important it is to have a high level of immigration occurring on a constant basis. It's very much like an ongoing Ponzi scheme. If you stop, the whole system (economy and living standard) goes into decline. Things are bad enough now, but I believe house prices are going to go up substantially, while availability will plateau, or at least not increase substantially. THE Davidson Report found Newcastle council meetings were too long and overly political, from what I understand. So, at the first council meeting after the report, it felt like all the party politicians lined up to spend two hours attacking the lord mayor. One hour was devoted to recognising the University of Newcastle. It's not that hard to recognise; it's huge. Perhaps a positive is that our elected party politicians are now all voting together, albeit on everything, to drive out any 'non-party' views. They seem united in backing the opposite of lord mayor Ross Kerridge to me. Wow, maybe party politics is dead in Newcastle. HERE go the Boomers again, trying to kill off a proposed tax on super accounts over $3 million. They were successful in defeating changes to negative gearing, franking credits and capital gains tax concessions, so why not? This is a generation for whom university was free, jobs were plentiful, houses were cheap and for many, an era of two-income households. A lot of wealth was created. They are also being supported by the taxpayer in retirement and have their hands out for whatever is on offer. This comes at a terrible cost to younger generations, who see the future as a continual struggle and unfairly carry the tax burden. We have real poverty in Australia, with children who go without, which limits their potential. We have homelessness growing, and people living with insecurity over food, housing and healthcare. It is not good enough and can only be addressed through fair and sweeping tax reform. The Labor government has six years to turn the growing inequality gap around and we must all pay where we can afford to do so. The vulgar displays of wealth in this country show a cohort who have not paid enough tax and don't seem to think they owe society, from which they have done very well, any recompense. The pressure on public hospitals, schools, social housing and welfare is not sustainable. End the bleating from those who can afford to pay. TWO recent opinion pieces made some good points. One by Mark Kenny on party politics, and another on super changes by Jack Thrower. Thrower is an economist with the Australia Institute, which claims to be non-partisan. It was started by former Greens candidate Clive Hamilton and its director, Richard Denniss, is a former senior strategic advisor to Australian Greens leader Bob Brown, who taught at the Newcastle University and the Australian National University (ANU). Mark Kenny also writes for The Canberra Times, a left-centre paper. He is a professor at ANU and a former Fairfax and ABC employee. He is the director of the National Press Club. Their opinions are relevant, but thanks to the Herald, we can look at those opinions with more insight. Mind you, if you want a left-wing opinion, on just about anything, you can get it from the ANU. Even if the City of Newcastle was considered high performing, clearly some common sense is missing in the hard rubbish collection section ("Flooding leads to fight over rubbish", Newcastle Herald 23/5) if poor residents affected by flooding are told to wait and take their rotting rubbish inside. How about organising a priority collection for them? I'm sure those not affected by flooding could wait another week. It's not rocket science. MICHAEL Hinchey is spot on ("The centre is where you must hold", Letters, 28/5). The near-defunct Coalition needs to stop pandering to the climate change deniers (an ever-diminishing minority) and state clearly and categorically that they accept the reality of anthropomorphic climate change. Until they do so, they'll remain an anachronistic irrelevant force in Australian politics. Did 'Macadamus' predict the Coalition band getting back together? They won't pull a crowd, but they don't have to; the band just has to sit back and watch Albo turn into Milli Vanilli. I WONDER if Steve Barnett ("Insurgents are survivors somehow", Letters, 27/5) knows he is talking about old Israeli propaganda, suddenly replaced by 'Hamas is using the food to buy weapons.' From who? The surrounding Israeli Army. Then it changed to 'They are using it to buy war materials'. What, rubble? Then it morphed into selling it to get money from Palestinians. Why, when they can just take the money? None of these things can happen if there is enough food in Gaza to begin with. TO those who pen long, biased political dissertations, I say there's none so blind as those who do not want to see. SINCE 2022, there have been regular flooding events occurring along the entire Australian east coast, from north Queensland through NSW to Victoria. They have resulted in tens of thousands of homes damaged or destroyed. Houses damaged and destroyed in the Lismore floods of 2022 are still being repaired or rebuilt so that their owners can live in them once more. Flood events since then have occurred in Cairns, Ingham, Townsville, Brisbane, Kempsey, Port Macquarie, Taree, the Hunter Valley, the Sydney Basin and areas down the south coast into Victoria. That's all within just two and a half years. All areas hit by such disasters require renovation and rebuilding of people's homes. In the most recent floods, authorities estimate 10,000 houses have been affected. Thousands of tradespeople are engaged in the repair and reconstruction of these homes. With so many tradespeople occupied in these rebuild programs as disasters keep coming, the workforce required to construct the large numbers of new houses to address the general housing shortage just doesn't exist. Trying to train substantial numbers of new tradespeople to address the scale of the shortage seems impossible. It is reasonable to presume that more disasters, such as floods and fires, will provide plenty of ongoing reconstruction work and take large numbers of tradespeople away from new home builds. In two or three years, I expect they will still be repairing and rebuilding homes in Kempsey and Taree. Substantially reducing immigration into Australia for a number of years to allow a catch-up in the workload is required. The problem with that, of course, is that to maintain our economy and standard of living, it is reliant on an ever-increasing level of migration into this country. Many people would be surprised by how important it is to have a high level of immigration occurring on a constant basis. It's very much like an ongoing Ponzi scheme. If you stop, the whole system (economy and living standard) goes into decline. Things are bad enough now, but I believe house prices are going to go up substantially, while availability will plateau, or at least not increase substantially. THE Davidson Report found Newcastle council meetings were too long and overly political, from what I understand. So, at the first council meeting after the report, it felt like all the party politicians lined up to spend two hours attacking the lord mayor. One hour was devoted to recognising the University of Newcastle. It's not that hard to recognise; it's huge. Perhaps a positive is that our elected party politicians are now all voting together, albeit on everything, to drive out any 'non-party' views. They seem united in backing the opposite of lord mayor Ross Kerridge to me. Wow, maybe party politics is dead in Newcastle. HERE go the Boomers again, trying to kill off a proposed tax on super accounts over $3 million. They were successful in defeating changes to negative gearing, franking credits and capital gains tax concessions, so why not? This is a generation for whom university was free, jobs were plentiful, houses were cheap and for many, an era of two-income households. A lot of wealth was created. They are also being supported by the taxpayer in retirement and have their hands out for whatever is on offer. This comes at a terrible cost to younger generations, who see the future as a continual struggle and unfairly carry the tax burden. We have real poverty in Australia, with children who go without, which limits their potential. We have homelessness growing, and people living with insecurity over food, housing and healthcare. It is not good enough and can only be addressed through fair and sweeping tax reform. The Labor government has six years to turn the growing inequality gap around and we must all pay where we can afford to do so. The vulgar displays of wealth in this country show a cohort who have not paid enough tax and don't seem to think they owe society, from which they have done very well, any recompense. The pressure on public hospitals, schools, social housing and welfare is not sustainable. End the bleating from those who can afford to pay. TWO recent opinion pieces made some good points. One by Mark Kenny on party politics, and another on super changes by Jack Thrower. Thrower is an economist with the Australia Institute, which claims to be non-partisan. It was started by former Greens candidate Clive Hamilton and its director, Richard Denniss, is a former senior strategic advisor to Australian Greens leader Bob Brown, who taught at the Newcastle University and the Australian National University (ANU). Mark Kenny also writes for The Canberra Times, a left-centre paper. He is a professor at ANU and a former Fairfax and ABC employee. He is the director of the National Press Club. Their opinions are relevant, but thanks to the Herald, we can look at those opinions with more insight. Mind you, if you want a left-wing opinion, on just about anything, you can get it from the ANU. Even if the City of Newcastle was considered high performing, clearly some common sense is missing in the hard rubbish collection section ("Flooding leads to fight over rubbish", Newcastle Herald 23/5) if poor residents affected by flooding are told to wait and take their rotting rubbish inside. How about organising a priority collection for them? I'm sure those not affected by flooding could wait another week. It's not rocket science. MICHAEL Hinchey is spot on ("The centre is where you must hold", Letters, 28/5). The near-defunct Coalition needs to stop pandering to the climate change deniers (an ever-diminishing minority) and state clearly and categorically that they accept the reality of anthropomorphic climate change. Until they do so, they'll remain an anachronistic irrelevant force in Australian politics. Did 'Macadamus' predict the Coalition band getting back together? They won't pull a crowd, but they don't have to; the band just has to sit back and watch Albo turn into Milli Vanilli. I WONDER if Steve Barnett ("Insurgents are survivors somehow", Letters, 27/5) knows he is talking about old Israeli propaganda, suddenly replaced by 'Hamas is using the food to buy weapons.' From who? The surrounding Israeli Army. Then it changed to 'They are using it to buy war materials'. What, rubble? Then it morphed into selling it to get money from Palestinians. Why, when they can just take the money? None of these things can happen if there is enough food in Gaza to begin with. TO those who pen long, biased political dissertations, I say there's none so blind as those who do not want to see. SINCE 2022, there have been regular flooding events occurring along the entire Australian east coast, from north Queensland through NSW to Victoria. They have resulted in tens of thousands of homes damaged or destroyed. Houses damaged and destroyed in the Lismore floods of 2022 are still being repaired or rebuilt so that their owners can live in them once more. Flood events since then have occurred in Cairns, Ingham, Townsville, Brisbane, Kempsey, Port Macquarie, Taree, the Hunter Valley, the Sydney Basin and areas down the south coast into Victoria. That's all within just two and a half years. All areas hit by such disasters require renovation and rebuilding of people's homes. In the most recent floods, authorities estimate 10,000 houses have been affected. Thousands of tradespeople are engaged in the repair and reconstruction of these homes. With so many tradespeople occupied in these rebuild programs as disasters keep coming, the workforce required to construct the large numbers of new houses to address the general housing shortage just doesn't exist. Trying to train substantial numbers of new tradespeople to address the scale of the shortage seems impossible. It is reasonable to presume that more disasters, such as floods and fires, will provide plenty of ongoing reconstruction work and take large numbers of tradespeople away from new home builds. In two or three years, I expect they will still be repairing and rebuilding homes in Kempsey and Taree. Substantially reducing immigration into Australia for a number of years to allow a catch-up in the workload is required. The problem with that, of course, is that to maintain our economy and standard of living, it is reliant on an ever-increasing level of migration into this country. Many people would be surprised by how important it is to have a high level of immigration occurring on a constant basis. It's very much like an ongoing Ponzi scheme. If you stop, the whole system (economy and living standard) goes into decline. Things are bad enough now, but I believe house prices are going to go up substantially, while availability will plateau, or at least not increase substantially. THE Davidson Report found Newcastle council meetings were too long and overly political, from what I understand. So, at the first council meeting after the report, it felt like all the party politicians lined up to spend two hours attacking the lord mayor. One hour was devoted to recognising the University of Newcastle. It's not that hard to recognise; it's huge. Perhaps a positive is that our elected party politicians are now all voting together, albeit on everything, to drive out any 'non-party' views. They seem united in backing the opposite of lord mayor Ross Kerridge to me. Wow, maybe party politics is dead in Newcastle. HERE go the Boomers again, trying to kill off a proposed tax on super accounts over $3 million. They were successful in defeating changes to negative gearing, franking credits and capital gains tax concessions, so why not? This is a generation for whom university was free, jobs were plentiful, houses were cheap and for many, an era of two-income households. A lot of wealth was created. They are also being supported by the taxpayer in retirement and have their hands out for whatever is on offer. This comes at a terrible cost to younger generations, who see the future as a continual struggle and unfairly carry the tax burden. We have real poverty in Australia, with children who go without, which limits their potential. We have homelessness growing, and people living with insecurity over food, housing and healthcare. It is not good enough and can only be addressed through fair and sweeping tax reform. The Labor government has six years to turn the growing inequality gap around and we must all pay where we can afford to do so. The vulgar displays of wealth in this country show a cohort who have not paid enough tax and don't seem to think they owe society, from which they have done very well, any recompense. The pressure on public hospitals, schools, social housing and welfare is not sustainable. End the bleating from those who can afford to pay. TWO recent opinion pieces made some good points. One by Mark Kenny on party politics, and another on super changes by Jack Thrower. Thrower is an economist with the Australia Institute, which claims to be non-partisan. It was started by former Greens candidate Clive Hamilton and its director, Richard Denniss, is a former senior strategic advisor to Australian Greens leader Bob Brown, who taught at the Newcastle University and the Australian National University (ANU). Mark Kenny also writes for The Canberra Times, a left-centre paper. He is a professor at ANU and a former Fairfax and ABC employee. He is the director of the National Press Club. Their opinions are relevant, but thanks to the Herald, we can look at those opinions with more insight. Mind you, if you want a left-wing opinion, on just about anything, you can get it from the ANU. Even if the City of Newcastle was considered high performing, clearly some common sense is missing in the hard rubbish collection section ("Flooding leads to fight over rubbish", Newcastle Herald 23/5) if poor residents affected by flooding are told to wait and take their rotting rubbish inside. How about organising a priority collection for them? I'm sure those not affected by flooding could wait another week. It's not rocket science. MICHAEL Hinchey is spot on ("The centre is where you must hold", Letters, 28/5). The near-defunct Coalition needs to stop pandering to the climate change deniers (an ever-diminishing minority) and state clearly and categorically that they accept the reality of anthropomorphic climate change. Until they do so, they'll remain an anachronistic irrelevant force in Australian politics. Did 'Macadamus' predict the Coalition band getting back together? They won't pull a crowd, but they don't have to; the band just has to sit back and watch Albo turn into Milli Vanilli. I WONDER if Steve Barnett ("Insurgents are survivors somehow", Letters, 27/5) knows he is talking about old Israeli propaganda, suddenly replaced by 'Hamas is using the food to buy weapons.' From who? The surrounding Israeli Army. Then it changed to 'They are using it to buy war materials'. What, rubble? Then it morphed into selling it to get money from Palestinians. Why, when they can just take the money? None of these things can happen if there is enough food in Gaza to begin with. TO those who pen long, biased political dissertations, I say there's none so blind as those who do not want to see. SINCE 2022, there have been regular flooding events occurring along the entire Australian east coast, from north Queensland through NSW to Victoria. They have resulted in tens of thousands of homes damaged or destroyed. Houses damaged and destroyed in the Lismore floods of 2022 are still being repaired or rebuilt so that their owners can live in them once more. Flood events since then have occurred in Cairns, Ingham, Townsville, Brisbane, Kempsey, Port Macquarie, Taree, the Hunter Valley, the Sydney Basin and areas down the south coast into Victoria. That's all within just two and a half years. All areas hit by such disasters require renovation and rebuilding of people's homes. In the most recent floods, authorities estimate 10,000 houses have been affected. Thousands of tradespeople are engaged in the repair and reconstruction of these homes. With so many tradespeople occupied in these rebuild programs as disasters keep coming, the workforce required to construct the large numbers of new houses to address the general housing shortage just doesn't exist. Trying to train substantial numbers of new tradespeople to address the scale of the shortage seems impossible. It is reasonable to presume that more disasters, such as floods and fires, will provide plenty of ongoing reconstruction work and take large numbers of tradespeople away from new home builds. In two or three years, I expect they will still be repairing and rebuilding homes in Kempsey and Taree. Substantially reducing immigration into Australia for a number of years to allow a catch-up in the workload is required. The problem with that, of course, is that to maintain our economy and standard of living, it is reliant on an ever-increasing level of migration into this country. Many people would be surprised by how important it is to have a high level of immigration occurring on a constant basis. It's very much like an ongoing Ponzi scheme. If you stop, the whole system (economy and living standard) goes into decline. Things are bad enough now, but I believe house prices are going to go up substantially, while availability will plateau, or at least not increase substantially. THE Davidson Report found Newcastle council meetings were too long and overly political, from what I understand. So, at the first council meeting after the report, it felt like all the party politicians lined up to spend two hours attacking the lord mayor. One hour was devoted to recognising the University of Newcastle. It's not that hard to recognise; it's huge. Perhaps a positive is that our elected party politicians are now all voting together, albeit on everything, to drive out any 'non-party' views. They seem united in backing the opposite of lord mayor Ross Kerridge to me. Wow, maybe party politics is dead in Newcastle. HERE go the Boomers again, trying to kill off a proposed tax on super accounts over $3 million. They were successful in defeating changes to negative gearing, franking credits and capital gains tax concessions, so why not? This is a generation for whom university was free, jobs were plentiful, houses were cheap and for many, an era of two-income households. A lot of wealth was created. They are also being supported by the taxpayer in retirement and have their hands out for whatever is on offer. This comes at a terrible cost to younger generations, who see the future as a continual struggle and unfairly carry the tax burden. We have real poverty in Australia, with children who go without, which limits their potential. We have homelessness growing, and people living with insecurity over food, housing and healthcare. It is not good enough and can only be addressed through fair and sweeping tax reform. The Labor government has six years to turn the growing inequality gap around and we must all pay where we can afford to do so. The vulgar displays of wealth in this country show a cohort who have not paid enough tax and don't seem to think they owe society, from which they have done very well, any recompense. The pressure on public hospitals, schools, social housing and welfare is not sustainable. End the bleating from those who can afford to pay. TWO recent opinion pieces made some good points. One by Mark Kenny on party politics, and another on super changes by Jack Thrower. Thrower is an economist with the Australia Institute, which claims to be non-partisan. It was started by former Greens candidate Clive Hamilton and its director, Richard Denniss, is a former senior strategic advisor to Australian Greens leader Bob Brown, who taught at the Newcastle University and the Australian National University (ANU). Mark Kenny also writes for The Canberra Times, a left-centre paper. He is a professor at ANU and a former Fairfax and ABC employee. He is the director of the National Press Club. Their opinions are relevant, but thanks to the Herald, we can look at those opinions with more insight. Mind you, if you want a left-wing opinion, on just about anything, you can get it from the ANU. Even if the City of Newcastle was considered high performing, clearly some common sense is missing in the hard rubbish collection section ("Flooding leads to fight over rubbish", Newcastle Herald 23/5) if poor residents affected by flooding are told to wait and take their rotting rubbish inside. How about organising a priority collection for them? I'm sure those not affected by flooding could wait another week. It's not rocket science. MICHAEL Hinchey is spot on ("The centre is where you must hold", Letters, 28/5). The near-defunct Coalition needs to stop pandering to the climate change deniers (an ever-diminishing minority) and state clearly and categorically that they accept the reality of anthropomorphic climate change. Until they do so, they'll remain an anachronistic irrelevant force in Australian politics. Did 'Macadamus' predict the Coalition band getting back together? They won't pull a crowd, but they don't have to; the band just has to sit back and watch Albo turn into Milli Vanilli. I WONDER if Steve Barnett ("Insurgents are survivors somehow", Letters, 27/5) knows he is talking about old Israeli propaganda, suddenly replaced by 'Hamas is using the food to buy weapons.' From who? The surrounding Israeli Army. Then it changed to 'They are using it to buy war materials'. What, rubble? Then it morphed into selling it to get money from Palestinians. Why, when they can just take the money? None of these things can happen if there is enough food in Gaza to begin with. TO those who pen long, biased political dissertations, I say there's none so blind as those who do not want to see.
Yahoo
2 days ago
- Business
- Yahoo
3 Rare Coins Boomers Should Hold Onto for at Least Another Decade
When you reach retirement age — as most baby boomers have — it's tempting to start cashing in your investments and putting the money into savings accounts or other risk-free assets. That's not always the best policy, though — especially when it comes to assets that consistently rise in value, like rare coins. Find Out: Learn More: The reason rare coins increase in value is simple: They will always be rare and that rarity will always lure collectors and investors. This creates steady demand, which in turn keeps pushing prices higher. Maximizing the value of rare coins by holding on to them is particularly important for boomers who are either already retired or are closing in on retirement. When you live on a fixed income, rare coins can serve as an ace in the hole in case you need a sudden infusion of cash to pay for a medical procedure or some other unexpected expense. Beyond that, the proceeds from selling a valuable rare coin could add tens of thousands of dollars a year to your nest egg. Here are three rare and valuable coins boomers should hold on to for at least another decade because of their expected price appreciation. Values listed reflect the high end of the price range, which typically means it is in or near mint condition. High-end value: $100,000 This famous coin with the iconic image is prized by collectors because of a mistake during the minting process. The right front leg of the buffalo was completely removed from the surface of the die, making it appear to have only three legs. According to a blog post on the Altier Rare Coins website, this 'accidental creation' has propelled the 1937-D Buffalo Nickel into the 'spotlight of the most sought-after and most expensive rare coins. Such a unique characteristic not only sparks intrigue among collectors but also significantly enhances its value.' Read Next: High-end value: $114,000 The Altier Rare Coins blog refers to two types of Liberty Head Double Eagle $20 coins: Type II (minted from 1866 to 1876) and Type III (1877 to 1907). Both types are expected to see values rise sharply in the coming years because of their gold content and historical significance. Market trends indicate 'a steady increase in value' for Double Eagles, according to Altier Rare Coins, particularly for 'well-preserved specimens.' puts the ballpark value of an 1883 Liberty Head Double Eagle in average condition at $60,000. However, one in mint condition could go for $114,000 or more. High-end value: $129,250 If you're looking for a good investment opportunity, Altier Rare Coins considers the Franklin half dollar a 'stellar option.' These coins were minted between 1948 and 1963 and feature both 'aesthetic beauty and significant value' and have seen a 'consistent upward trajectory.' Although you'll find plenty of Franklin half dollars that won't command much from collectors, there are rarities that range in value from a few hundred dollars to nearly $130,000. More From GOBankingRates Surprising Items People Are Stocking Up On Before Tariff Pains Hit: Is It Smart? Clever Ways To Save Money That Actually Work in 2025 This article originally appeared on 3 Rare Coins Boomers Should Hold Onto for at Least Another Decade Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
News.com.au
2 days ago
- Business
- News.com.au
Buying a home 5 times harder now than in 1980
It is now five times harder for young Queenslanders to buy their first home than it was for their Boomer and Gen-X parents, according to shock new analysis exposing the enduring impact of the nation's longest property boom. Extensive PropTrack analysis over 45 years shows a typical house in Brisbane, which cost just $32,750 in 1980, is now valued at an astounding 420 per cent more in 2025 when adjusted for inflation. That's because the $32,750 spent on a home in 1980 equates to about $174,600 today, but the current median house price has skyrocketed to $910,000. The analysis reveals how much harder it is for the current generation to buy property compared to their parents' era, and has prompted experts to sound the alarm for first home buyers as saving for a deposit becomes more out of reach than ever before. SEE WHAT HOMES REALLY USED TO COST IN YOUR SUBURB PropTrack economist Angust Moore said young people were taking longer to enter the market, relying more on family support, or accessing government incentives to buy with a smaller deposit. 'The deposit hurdle is just unequivocally harder than it was four or five decades ago, and that has manifested in home ownership rates which have fallen over those years,' Mr Moore said. He said lower interest rates now than the 1980s and early 1990s, when they surged to a high of 17 per cent, had helped drive up property prices in that time due to greater competition and demand. Brisbane's median value surged from $32,750 in December 1980 to $95,000 in December 1990, $152,000 in 2000, $465,000 in 2010, and $910,000 by March 2025. Brisbane units show a slightly less dramatic trend, rising from $38,750 in 1980 to $636,000 today. The trend played out differently across suburbs, with blue-chip as well as entry-level areas included among the most striking examples of real price growth. A typical home in inner-city Hawthorne, priced at $2.125m in 2025, is worth more than ten times its inflation-adjusted 1980 value of $164,500. In Woodridge, homes cost $24,950 45 years ago – equal to about $133,000 today. But the Logan suburb's current median house price is $650,000. The long boom on the back of the Covid-19 pandemic has seen prices rise even more sharply than in the 1990s, when rates plummeted and the real estate market flourished. Newstead locals and engineers Toby Tremain and Georgia Stel, both 25, said they were being pushed out of their preferred suburb by astronomical house prices and currently preferred to rent and live in the city. 'We are both open to owning an apartment, we're not like we must have a house and live in the city,' Mr Tremain said. 'I understand that's not feasible. 'But I think the trade-off is, like living in this area right now for us is really enjoyable.' Rising prices aren't exclusive to the capital, with regional and coastal centres also recording huge real growth. On the Gold Coast, houses in Surfers Paradise were already more expensive than Brisbane in 1980 at $74,500. That figure would be equivalent to $397,200 considering rising living costs, yet a typical home in the Glitter Strip now costs $1.35m. Another Gold Coast example, Ashmore, was closer to Brisbane's median in 1980 at $43,950 — $234,300 in today's dollars. Its current house price is $1.138m. Further north, a house in Aitkenvale, Townsville had a median of $29,625 in December 1980, or $158,000 adjusted. It's now worth more than three times that amount at $514,000. Real Estate Institue of Queensland (REIQ) CEO Antonia Mercorella said price growth was driven by a chronic undersupply of housing. 'Scarcity continues to put upward pressure on prices, particularly impacting first-home buyers who now face a vastly different affordability landscape than previous generations,' Ms Mercorella said. 'If we want to enable sustainable price growth and ensure future generations the same opportunity to own a home, housing policy must be squarely focused on supply. 'Any attempt to improve affordability without significantly increasing housing stock is doomed to fall short.' Byron Bay's Beach Hotel sold for $140m Buyers agent Alex Pope said Baby Boomer and Gen X homeowners were unlocking equity in their properties to help younger family members buy through a guarantor loan. 'First-home buyers are often getting support from mum and dad, and in some ways it's very easy for the older generation who have fared really well from the market to do this,' Mr Pope said. 'As a young person who may have just started in a career, recently moved out of home and paying rent, you're in a really expensive time of life while your income is probably still quite low, so getting the deposit is the hardest part.' Mr Pope advised young buyers to treat their first home as a stepping stone – 'your first home isn't your last, but it does catapult you to the next'. By starting in a duplex, unit, or renovator, young buyers could build equity and eventually move into a more ideal property as their careers and incomes grew, he said. Only a tiny number of suburbs across Greater Brisbane remained at 2000 or even 1990 prices. Russell Island was most frequently highlighted in the data as having current prices comparable to historical values of various other suburbs. Prices in a handful of other outer suburbs including North Booval, Logan Central, Goodna and South Brisbane units were now on par with some values from 20-plus years ago. But the overwhelming majority of homes had now well-surpassed those old benchmarks, cementing a major decline in affordability.
Forbes
3 days ago
- Business
- Forbes
How Retirees (And Teens) Can Find Their First Side Hustle Customers
A simple side hustle (or two) can provide retirees with extra income. You don't have to be tech-savvy or a sales pro. All it takes is a passion for your project and someone to share it with. Notice it's 'someone,' not 'someones.' All it takes is one person. Patient zero. Then you're off to the races. The 2025 MarketWatch Guides Side Hustles Survey shows 72% of Gen Zers have worked a side hustle in the last year. But these often micro-entrepreneurial ventures aren't just for twenty-somethings. The same survey indicated 31% of those in the Baby Boomer/Silent Generation age bracket are running side gigs. With nearly one in four of all people using these small businesses to create additional spending cash, you can be sure they're becoming a viable strategy for retirees. At the other end of the spectrum, even teens are getting in the game. Teenage side hustles can go well beyond the lemonade stand meme popularized generations ago. These money-making opportunities can produce enough revenue to fully fund the annual contribution of a Child IRA. But it all starts with Customer #1. That person (or entity) validates your hustle. It gives you the confidence and the momentum to push on. After that, it all gets easier. Face it, the excitement of starting a new business—and that's precisely what a side hustle represents—can overwhelm you. But in a good way. The joy of creating something that never existed empowers you. The job of convincing someone to buy it, however, may overpower you. That's normal. That shouldn't hold you back. In fact, here's a piece of common-sense advice that may just calm any nerves you have. Most new entrepreneurs overlook their greatest asset—the people they already know. In business jargon, that's called your 'existing network.' Here's the crazy thing. You don't even have to use a sales pitch. You just need to have a normal chat over coffee (or whatever beverage you prefer). These people—friends, family, former coworkers—they all know you. You don't have to pretend to be someone you're not. Besides, they'd see right through that façade. Be yourself. Be conversational. Merely let them know what you're up to. And don't do all the talking. Purposely pause at points where it's natural for them to start asking questions. That's the key. Get them talking. Get them curious. Get them to probe you. The more they talk, the more they convince themselves they're interested. That's when you can switch into sales mode, if you even have to. Very often, they'll sell themselves. 'I received my first customer by doing market research and reaching out to a group of friends for feedback,' says Judy Ta, a business coach at Judy Ta LLC in Torrance, California. 'I would ask them about challenges they have, competitors, thoughts about my industry, and for feedback on my business idea. One expressed interest, so I transitioned it into a sales pitch, which led to a follow-up conversation and my first sale.' Retirees generally have vast personal and professional networks. You don't have to speak to all of them. Pick the ones most likely to offer reliable feedback. This is so natural that even an introvert can do it. So, rest easy. You don't need to be a social media influencer to make sales. After that first sale, strike while the adrenaline is still flowing. Don't let any lack of sales experience constrain you. You don't need a fancy online presence to get started (although, face it, this does help, especially if your potential buyers expect it). Many retirees succeed by leaning on that old-school tradition: the human connection. This means hawking your goods face-to-face. If you don't have a marketing background, you might find the act of selling a bit intimidating. 'I retired from the Air Force after 27 years and started my own company,' says Bill Barrington, founder of Barrington Leadership Group in Arlington, Virginia. 'My greatest challenges were self-promotion and marketing—neither are skills that are taught in the military.' Like any new skill, you can learn the art of selling through small steps and reframing the concept. Maybe you're not selling. Maybe you're solving a problem. Or perhaps you should consider how you learned new things when you were still in high school. What motivates teenagers? Independence? Control? Rewards? When you think about it, these are the same things that motivate many adults and, most especially, entrepreneurs. Why is it that teens know the purpose of all the remotes in your house? Why is it that, when your computer raises your ire, you call your teenage grandchild for advice? Heck, it's getting so bad you need a high schooler to show you how to run the dishwasher. It's not that they're smarter than you. It's that, when they put their mind to doing something, they energetically dive in. They can do that because they have a lot of free time. You know who else has free time? Retirees. And if you're ready to return the favor for all the times your eighth-grade grandson cleaned out your gutters (or the inbox in your email), now's the time to teach him about the power of compound interest. Better yet, you can have him run his own side hustle in tandem with you. Side-by-side side hustles. Not only can you both learn, but you can both learn together. You see how reframing works? You went from dreading the idea of 'selling' to enjoying quality time with your kids or grandkids. 'Many of the moms I coach start carts with their kids — not just to make money, but to build something together,' says Jennie Blackwood, founder of Social Graze Charcuterie Bar + Cart to Cashflow Coaching in Loomis, California. 'It becomes a bonding experience and a hands-on way to teach teens business basics, customer service, budgeting, and pride in ownership. Some even go on to run their own carts, and I've seen families use the earnings to open Roth IRAs or save for college. But beyond the money, it's about mindset. These moms are saying, 'I want my kids to see you don't have to follow the grain—if mom can build something from scratch, so can you.' And that belief is worth more than any startup capital.' Who knows? If you're working with your child or grandchild, consider practicing together to discuss the features and benefits of each of your side hustles. This will give you a chance to see what life is like on both sides of the selling fence. If you've never started a business before, particularly if you're retired, it's easy to fall prey to the burden of perfection. Accomplished entrepreneurs know that the secret to success is simply to start. Don't delay. Start scrappy. You can refine things as you go along. What's that famous GE catch phrase? 'Ready. Fire! Aim.' Don't be afraid to fix things on the fly. Don't overemphasize your 'grand opening.' This is only a side hustle. Speed tends to reward. Winners get there first. Those who hesitate fall behind. 'They get caught in the trap of 'I need everything perfect first,'' says Blackwood. 'Logo, pricing, website—they delay action until they have it all figured out. But done beats perfect every time. Share the journey. Show your face. Talk about your idea before it's polished. The people who support you early are buying you, not your branding.' Indeed, you'll find your confidence won't start building until after the first few sales, not before. Why? It's your authenticity and connection that seal the deal, not your product. After that, if your product truly solves a significant problem, it will begin selling itself. What evidence should you be looking for that your side hustle is selling itself? That depends on your product and the marketing method you use. If you're selling a book, you'll begin to see sales go up without any advertising. If you're providing a service like cleaning out gutters (or email inboxes), the phone will start ringing before you're done with your next job. This implies you've got sustainable word-of-mouth advertising. You stoke this by focusing on referrals, obtaining testimonials, and public visibility. (Of course, a consistent, well-performing product underpins all of this.) Remind satisfied clients to refer you to a friend. Ask them to provide a testimonial you can use. Above all, make sure people see you out there, wherever your potential customers hang out. 'Referrals were key,' says Chris Sorensen, CEO at PhoneBurner in Seattle, Washington. 'I made sure each customer had a great experience, then simply asked if they knew anyone else who could benefit. That steady word-of-mouth helped me grow without needing a big marketing budget.' Also, social sharing and gratitude posts offer a double bang. Not only do they get your name out, but they get your customers' names out, too. Everyone appreciates a 'thank you' (remember the response you got to those handwritten thank-you notes your mother forced you to write?). Doing this can create a reciprocity cycle that can, in turn, become a mini-marketing engine for organic growth. You don't need a business plan. You don't need a marketing degree. All you need is an idea, a network, and the will to act. It doesn't matter which end of the age spectrum you're on. Whether you're a senior side hustler seeking more spending money or a teen entrepreneur looking to fund a Child IRA, these tips work. Are you intrigued by the opportunities a side hustle can offer you? Use your hobby as a launching pad. It makes the journey easier than you can imagine. Not only does the internet offer a seamless distribution opportunity, but it also serves as a free resource library. Would you like to find out more about senior side hustles and other entrepreneurial topics? Click here to sign up for Chris Carosa's newsletter and receive a free three-step checklist to determine if your idea has what it takes to succeed.
Los Angeles Times
3 days ago
- Business
- Los Angeles Times
New 657-unit development proposed for former Boomers site in Fountain Valley
When Fountain Valley found out it would have to plan for thousands of housing units by the end of the decade, city staff began putting together a list of locations that could accommodate such projects. The opportunity sites, as they have been called, would provide land for projects to help the community reach its mandated Regional Housing Needs Assessment, under which the state tasked Fountain Valley with adding 4,839 units by 2029. A large-scale development has now been proposed at 16800 Magnolia St., the site previously occupied by Boomers, the family amusement center just off the 405 Freeway that provided entertainment such as arcade games, go-karts and miniature golf until June 2020. The proposed project was submitted by Holland Partner Group in March 2024. If approved, the developer would build a total of 657 apartment units in two separate, seven-story buildings. The 6.87-acre site would have vehicular access between the two buildings, courtyards and a public dog park. Amenities at each building would include co-working and fitness areas on the ground floor. The plan also calls for a pool, spa, lounge seating and barbecue areas on the upper level. Additionally, the buildings would provide 4,460-square-feet of commercial or retail space. 'This project has been carefully designed to meet the goals and the requirements outlined in Fountain Valley's general plan, the zoning regulations and the housing element,' said Matt Turk, senior development manager for Holland Partner Group. 'The mixed-use community will deliver much-needed housing alongside vibrant neighborhood retail space and a public dog park.' Planning commissioners took a look at the project during a study session on May 14. Omar Dadabhoy, the city's community development director, said the project is scheduled to return to the commission for a public hearing on June 11. 'There will be a density bonus and affordable housing agreement for the project,' said Steven Ayers, the city's principal planner. 'The project will include 78 deed-restricted low-income units, which is 15% of the base density of the project.' The project, as proposed, would have 95.6 units per acre, using a state density bonus law to achieve that number. If the development did not include affordable housing units, it would have been capped at 515 units. In September 2022, the City Council approved an ordinance that allowed some developments to have up to 75 units per acre. The conditions to qualify for that allowance included having a mixed-use site at least 400 feet away from a single-family residential zone, or when the nearest property line of a mixed-use zone is separated by the 405 Freeway. Only two of the initial 11 opportunity sites identified by city staff for potential housing developments met the criteria to be built out to the 75-unit-per-acre base density. Those sites, staff said, were Warner Square and the former Boomers. 'This is an area that the [general plan advisory committee], City Council and Planning Commission saw as an area that could hold more units than the rest of the properties in town that we included in our housing element,' Dadabhoy said. Ayers said the project would generate an estimated 3,138 daily trips to the area. There would be 980 parking spaces included at the site, including two seven-story parking structures. Ayers said state density bonus law required 776 parking spaces for the proposed development. 'We have 916 stalls that are going to be dedicated to residents,' Turk said. 'Those are going to be access-controlled in the parking garage, and then we have an additional 64 stalls that are going to be dedicated to retail guests and the public. The majority of those — 45 of those — are service parking stalls. So anyone who wants to go to the retail or go to the dog park is going to have a lot of options for parking.'
