Observant little ...

I don't understand the answer, but I may have some ideas on the question...

child support

Child support is such a tricky issue. On one hand, I know dads that can't afford to support their current family because so much of their income goes to a child from a previous relationship. On the other hand, I know mums that are barely scraping by because their ex is writing off his income through a business, so that the child from the previous relationship is being treated much worse that the children from the current relationship.

There's now this new plan which allows dads to keep the money from a second job for themselves so they can set themselves up in their new life. My only problem with that is that I can just see so easily how it could be rorted so that the dad pays minimal child support, but lives the life of a king, because it's from the income from his "second job". What happens if the second job pays more than the first job? Is it done on the basis of whichever job earns him the most? Is it fair that a dad gets to keep up to half his income quarantined?

I don't have a problem with it as long as it is a true second job - ie casual or part-time work to supplement his primary income, and not two part-time jobs just to rort the system. But how would the system be able to tell?

Maybe I'm just too cynical and jaded after 10 years in this industry! ;o)

Also in the news today - apparently Australian houses are overpriced. Well, I knew this. The fact that I can't buy a house in a decent suburb on my income is just ridiculous! I earn more than my parents put together (though they do only work part-time) and my brother supports an entire family on less income than me. But then, apparently interest rates may fall, and the housing market has already slowed down, so I'm thinking that I may be back in the market by the end of this year.

On a completely different note, I came across this via Bliss (hey! That rhymes!) which is a very cool visual effect thingo - I can make the pink spots go away after a couple of seconds. Does that mean that I'm fixated? ;o)

Listening to: Wesley Davidson's little 4 song EP


Blogger the urban fox said...

Houses are hugely overpriced here too. I keep wondering how long it'll be before everyone realises that the boom in buy-to-let properties has created false inflation which will eventually collapse like the hollow pinata it is.

Then I realise if nobody notices, it'll continue indefinitely.

In London, the average house price is approximately 17 times the average income. Unsustainable, except that the banks keep propping up the market by lending people enormous mortgages.

It's definitely crazy that an Australian lawyer should have any difficulty buying a suburban house, so I guess maybe you've got the same crazy situation as us.

9:09 am  
Blogger OLS said...

Admittedly, I probably don't get paid as much as the average lawyer of my level of experience (the downside of working for government), however, I do still earn WAY over the average Aussie income.

I remember chatting to mate in London when I was over there about housing prices and she was saying something similar. But even rental prices seem to be insane in London!

At least in Brisbane, you can still rent cheaply. It's those bloody southerners buying up all of our property (because it's still cheap in comparison with Sydney or Melbourne) and then living off the rental until they come up here to retire. ;o)


3:40 pm  
Blogger Lord Bargain said...

i get to make a post about the job I do whilst doing it! yay!

there aren't enough houses, that's the bottom line. It's like anything, if there's a shortage, you have to pay through the nose to get one. There were less new houses built in the UK last year than any other year since the end of World War 2. Couple this with increased divorce rates and stuff, and there aren't enough houses to go round, hence the price is too high.

and whilst it is cheaper to rent (which it is whilst interest rates are where they are) why would you buy? And if it is cheaper to rent, "buy to let" will continue to thrive as the demand for rental property remains strong.

I take issue with Fox's comment about "banks keep propping up the market by lending people enormous mortgages". That's not strictly true. The purpose of last years regulation, and the professionalism of most of the people in the industry means people get the mortgage they can based on their earnings and circumstances.

The problem is, there's no answer, other than lower interest rates so people can more affordably make the repayments. Or changing the planning laws so more and more houses can be built.

[Your home is at risk if you do not keep up repayments on your mortgage or other loan secured on it.]

Just in case anyone wasn't sure.

6:37 pm  

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