How can young people afford this?

schitz011

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They can't. Thats the problem...
When I first bought property (subsequnetly sold prior to house price explosion :( ) it was ONLY R125000 and the payments were I think around R2500p/m. This was 1998/99 around there..

Now I looked at the possbilitiy of buying property and for us (the misses and I ) to be able to buy the house we would like we would need to both earn R25000 net each! and still the payments are too much..

Such is life..
 

nocilah

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the devide between rich and poor begins here...

that is where south africa will fail... if they dont watch this devide there will soon be no middle class.
 

bwana

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halicon said:
the devide between rich and poor begins here...

that is where south africa will fail... if they dont watch this devide there will soon be no middle class.
Hate to break it to you but SA already has a dual economy - the division between rich an poor began long ago and has yet to be properly addressed.
 

Highflyer_GP

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Those include areas such as Brixton, and close to Sophiatown/Pageview at R378 000.
those are k@k areas, its those old railway type houses where the typical shape of the house is a square with a tin roof at an incline from the four sides meeting at the top.

Johannesburg's north-eastern suburbs that offer value include Bez Valley (R388 000), Yeoville (R380 000)
those are even worse areas bordering on hillbrow. wtf is with these people, are they trying to force the youth into such degraded areas by making it sound middles class by forcing prices in the middle class bracket?

[edit] the article is slightly misleading because the north eastern suburbs are places like kempton park and edenvale which is proper middle class
 
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bwana

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Highflyer_GP said:
those are k@k areas, its those old railway type houses where the typical shape of the house is a square with a tin roof at an incline from the four sides meeting at the top.


those are even worse areas bordering on hillbrow. wtf is with these people, are they trying to force the youth into such degraded areas by making it sound middles class by forcing prices in the middle class bracket?
Urban gentrification?
 

Highflyer_GP

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bwana v.10 said:
Urban gentrification?
but it comes across as more of a forced gentrification. the proper middle class can no longer afford to buy in middle class areas and are now forced to fork out in working class areas. these are high crime areas and these people are going to become victims. sometimes i wonder if these estate agents have some kind of deal with the government by forcing this upon people. why doesn't government start at the source, eliminate all the filth and maybe people would consider moving in willingly. R380 000 is a ridiculous amount to pay for a pad in yeoville
 

tibby.dude

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Highflyer_GP said:
but it comes across as more of a forced gentrification.
Simple case of capitalist supply and demand at work here ... no hidden govt agenda or some socialist program involved here mate.
 

tibby.dude

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AdLo said:
Just some government racism, sexism and incompetence at work here. :rolleyes:
And what does the govt have to do with housing prices ???.

In fact interest rates are their lowest in decades no thanks to their sound economic policies and recently they even lowered transfer duties to make it easier for buy property.

The market decides these prices ... willing buyer ... willing seller .... it is as simple as that.
 

Gurr

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It's not like one can work overseas for 2 years and come back anymore.
hi,
please explain ? This is exacly what I intended to todo, after i gain couple years worth of experience in my field. This is the only way, I feel, youger people will be able to afford a decent house in SA ?

cheers
 

ajak

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Gurr said:
hi,
please explain ? This is exacly what I intended to todo, after i gain couple years worth of experience in my field. This is the only way, I feel, youger people will be able to afford a decent house in SA ?

cheers

My advice to you is, go overseas, get the training or whatever you want, come back, find a nice place you like, and squat :D :D :D
 

antowan

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It is government's fault that tiny places became so expensive. There should be minimum room size requirements. Companies like MNT etc are guilty of ruining the spacial departments of old. They build tiny sub-economic sized dens for people and flog them off at astronomical prices. If there is a minimum in force, it needs to be revised, but the way things have progressed thus far is out of line with the needs of the people of this country. Why should South Africans struggle to afford decent housing? I am now referring to those South Africans already earning a decent salary. Why should people who are earning good money have to struggle finding decent housing? Something is obviously wrong.
 

nocilah

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antowan said:
It is government's fault that tiny places became so expensive. There should be minimum room size requirements. Companies like MNT etc are guilty of ruining the spacial departments of old. They build tiny sub-economic sized dens for people and flog them off at astronomical prices. If there is a minimum in force, it needs to be revised, but the way things have progressed thus far is out of line with the needs of the people of this country. Why should South Africans struggle to afford decent housing? I am now referring to those South Africans already earning a decent salary. Why should people who are earning good money have to struggle finding decent housing? Something is obviously wrong.
i dont believe it is the goverment. the fault lies with those who are selling and buying houses atthat price. ultimately the consumer can control the rpice ut in this country the consumer often thinks they cant.

i am not saying the prices right now are justified. but we can't always be reliant on the goverment.
 
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tibby.dude

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antowan said:
There should be minimum room size requirements.
There are minimum room sizes and ceiling heights prescribed in the national building regulations .... see document SANS 10400
 

Gooku

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I think investor speculation is the biggest cause, in a property bubble

But there is hardly any prevention for it.
 

Highflyer_GP

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what i'd like to know is which body is empowered to protect the exploitation of consumers in the property market? and if such a body exists why is nothing being done? yes its a capitalist market, but to force youngsters into high crime areas such as yeoville where a place costs R380 000 is a bit ridiculous. surely there should be factors that should dictate pricing, crime being one of them.

my point is that if something is actually done to curb the crime rate in these known high-crime areas, the asking price might be warranted, and people will consider moving in willingly.
 

nocilah

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Highflyer_GP said:
what i'd like to know is which body is empowered to protect the exploitation of consumers in the property market? and if such a body exists why is nothing being done? yes its a capitalist market, but to force youngsters into high crime areas such as yeoville where a place costs R380 000 is a bit ridiculous. surely there should be factors that should dictate pricing, crime being one of them.

my point is that if something is actually done to curb the crime rate in these known high-crime areas, the asking price might be warranted, and people will consider moving in willingly.
it's a supply and demand thing... if there is a demand then people will buy. i remember when i first moved in sunninghill town houses were 250 000 - 300 000. This then jumped to insane prices in over a 2 years. now the same units can be anywhere from 380 - 450 000. And i talking crappy matchbox 1 bedroom town house aprtments where the walls are thin and you can hear your neighbour having sex.
 
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