Thursday, June 27, 2013

Auckland and auctions

Try to find the price of a house in Auckland when  you look through real estate adverts and you will most likely find the words, 'to be auctioned,' heading the advert. If you have a rough idea of what you wish to spend, it is going to take you a good deal of ringing around and asking before you get any idea of the ball-park figure for the home. If you do turn up to an auction the chances are that you will leave with your head hanging low. This is after all---Auckland, 'city of sails,' and now fialed dreams. If you are young, have a good income and even have a supportive partner, don't get your hopes up. You are not going to be living and owning a home in one of the 'desirable' suburbs because they are way beyond your capability to pay for it. Maybe it's time to take a look elsewhere; either in a more modest suburb or indeed, out of Auckland, if you can get a job. The good old days of Dad working and mum staying at home, yet still having a home that you could look forward to owning in 30 years are part of a myth-like past. The reality now is that most young people will rent or put themselves in charge of a mortgage that makes the eyes water. What sort of 'disposable' income will this generation have? Perhaps working two jobs (for both partners) may bring home the bacon, but more than likley it will be of the budget kind.
Let's get the focus away from Auckland and spread out a bit. Maybe then we wonlt all have to pay for the grandios schemes that will burden a few generations to come, re transport costs and other infrastructure. Do we ever learn?

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