Inflation now 4% !!!!
Grandpa Aerotart
I read that statistic while looking at the Sandringham Flying boat in the MOTAT museum in Auckland...interesting innit
I guess that is why most people travelled in ships.
The QF FO wages comparison I used because those are numbers I can find out by simply asking my father.
The overall comparison is the same...look at what houses cost across the spectrum 36 years ago and compare that to what people earned across the spectrum and it is clear that wages have lagged seriously behind real inflation.
If you apply 3% average inflation to that 1970 QF FO wage you get pretty close to a current QF FO wage. You cannot do the same with the house or the Bonanza...actually it works bloody close with the original 1970 Bonanza but not the federation house....and certainly not the new Bonanza.
Or put another way that FO wage is now roughly 4 times what it was in 1970 while that house price is now roughly 75 times what it was in 1970.
I very much doubt the numbers would be all that different comparing the average wage in Australia to the average house price in Australia over that same period.
I guess that is why most people travelled in ships.
The QF FO wages comparison I used because those are numbers I can find out by simply asking my father.
The overall comparison is the same...look at what houses cost across the spectrum 36 years ago and compare that to what people earned across the spectrum and it is clear that wages have lagged seriously behind real inflation.
If you apply 3% average inflation to that 1970 QF FO wage you get pretty close to a current QF FO wage. You cannot do the same with the house or the Bonanza...actually it works bloody close with the original 1970 Bonanza but not the federation house....and certainly not the new Bonanza.
Or put another way that FO wage is now roughly 4 times what it was in 1970 while that house price is now roughly 75 times what it was in 1970.
I very much doubt the numbers would be all that different comparing the average wage in Australia to the average house price in Australia over that same period.
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Yeah Chimbu that's right I did forget to mention that interest rates were high pretty much everywhere during that time, not just here, its cyclical worldwide thing. Oh yeah I dont tend to agree with you I DEFINITELY agree with you that I also hate all politicians!! 
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Politicians by their role, not their nature, prove that no one person may be all things to all people - the result is policy by compromise/committee. The peoples representatives end up standing for nothing and falling for everything The effect is paralysis.
Add 3 year terms for good measure, and it is solid proof that things get done in spite of them - not because of them.
I still think Howard rode the coat tails of Keating - but I do have the influence of being around economists and market analysts more often than than right wing idealogues.
Thankfully.
Add 3 year terms for good measure, and it is solid proof that things get done in spite of them - not because of them.
I still think Howard rode the coat tails of Keating - but I do have the influence of being around economists and market analysts more often than than right wing idealogues.
Thankfully.
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Some things in the RBA's 'basket' fell in price; not everything went up. But I suspect the things we 'want' to have are the things that went down, and the things we 'need' to have keep going up.
I agree with Vee Won Kutt, I thought most of us had more or less stopped buying bananas? We bought 3 nanas last week - what a guilty pleasure!
One thing to keep in mind about the cost of houses ..... only about 1/3 of households are paying a mortgage. Another thrid rent and the last third own outright. So the cost of houses in the RBA's 'basket' is discounted in terms of its influence on inflation.
Still, it doesn't help this little black duck. Sydney sized mortgage, child care, running 2 petrol fuelled vehicles out of necessity ..... mebbe it's time to lock in our rate too.
I agree with Vee Won Kutt, I thought most of us had more or less stopped buying bananas? We bought 3 nanas last week - what a guilty pleasure!
One thing to keep in mind about the cost of houses ..... only about 1/3 of households are paying a mortgage. Another thrid rent and the last third own outright. So the cost of houses in the RBA's 'basket' is discounted in terms of its influence on inflation.
Still, it doesn't help this little black duck. Sydney sized mortgage, child care, running 2 petrol fuelled vehicles out of necessity ..... mebbe it's time to lock in our rate too.
Silly Old Git
Or put another way that FO wage is now roughly 4 times what it was in 1970 while that house price is now roughly 75 times what it was in 1970.
It was very very hard to borrow money back then.
An FO wage was about $65K in "that" year 1989 and a median house in Darwhine around double that?
Using that as a rule here in Darwhine an FO should be being paid about $400k now?
Fark I think not.
Its the availability of cheap money that has shoved up prices ,kerist I didnt even have one of them new fangled things called a Bankcard in the 70s
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Banks hate losing. Look at ten year fixed rates and heavy equipment lease rates. Interest rates will be hard pushed to go beyond 7.50% in Oz.
Personally I always stick with variable rates, and for over ten years I have been better off, consistantly paying less than the fixed rates.
I hope this helps anyone who may be about to borrow!
