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greedy - that'd only be true if income growth and property growth were linked, but they are not as proven by the last 30 years growth on both. Spending patterns change and so do costs of everything.

Article in The West Australian today about renting vs buying. The numbers they used were fairly realistic for perth. Buying: 550k house with 500k loan Weekly repayments of 752 (avg interest rate 7%) plus 5k a year in associated costs and bills Total after 30 yrs is 3.35mil house paid off...