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The counter to that is, if there was one thing you can tell your 16 yo kid, would it be to start early?

The secret is, as we all know in property, start early. So for some of us it's too late.

Net of savings. Common sense no? I may have a lot of outstanding debt, but maybe my debt is entirely offset by cash in offset account. Everything comes back down to the most basic, fundamental things. @ sea_change: no I don't believe in these debates. They're useful, but economics is just...

Is that gross debt or net debt? Doesn't sound right to me also. Our public net debt to GDP is a lot lower than that. I'm surprised private debt is that high

Interesting. I know and know of some fairly wealthy families (again, iconic brands). And certainly, their life revolves around ballet dancing, art, culture, and if any business is involved, grand ideas hardly any desire to execute the ideas. You'd think this kind of mentality would only...

That's also very true. For most rich families, the glory usually dissipates by the 3rd generation. Unfortunately, I don't think anyone has worked out how to motivate the 3rd generation once the ancestor's assets allow them to rent seek off society. You only need to look at certain iconic...

The secret is to be born rich. My mate just flipped his $2m PPOR he got a year ago, for $4m. Went into CBD bought another building for $5m in cash. Mr. Gu (often makes papers), just sold his $40m Footscray land for $60m. Bought 3 years ago. See the common theme? You need to start with a lot...

I tend to think timing and buying well is more important than buying whenever you can and holding for a long time. Obviously the latter has proven to work over time, but I have no doubt the returns in the first strategy is a lot higher.

Not sure if it's just me or some replies come across pretty sour grapes.