Quote:
Originally Posted by leesa
This is probably going to be controversial but doesn't it bother you guys that the 'returns' you're seeing are coming at the expense of someone else and heavily impacting their life?
For you to gain $100k you're costing someone else considerable debt, debt that they may well not pay off before they die.
Your profit is coming at the expense of further inflating the market beyond the reach of many Australians who will never obtain security in one of the basic necessities of life, shelter.
Those people are your friends.. your family.. your kids... your friend's kids... their friends.
Does anyone have any feelings about that or all good?
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At the end of the day it sucks but it means that people are going to have to look outside of Melbourne and Sydney if they want to be able to afford housing without having to partner up or chase ever increasing spondoolies.
Hence why I've been asking advice about Adelaide, sure if like to stay on the regional outskirts of Melbourne but why pay $450-500K when it'll buy you within the metropolitan area of another capital city?
Instead of being 70KM out of where you work you could be 20KM out of work with a half hour commute?
Either people make sacrifices like this or the expectations lower to a single bedroom apartment, you're lucky to get a car spot and a single bedroom with $500K with an apartment in the nicer areas of inner Melbourne suburbia.
It's even worse in Sydney, double it.