Yep.
Say a 350k mortgage now might well be seen as tiny in 25 years time, when average salaries are sitting at 300k. Or maybe not.
50k now is a whole lot less money now in terms of wages than 50k 20 years ago.
Look at the average multiple of income for an average mortgage for a...
Friday night. Last night was dinner at my uncle's place.
Chicken just about to go in as well. Do dinner for tonight, 2 nights of lemon chicken pasta plus tones for stock. Hope that helps.
I think that is an excellent point.
I didn't finish uni until I was 23. But that was a 5 year degree (undergrad plus post grad).
I'm perfectly happy with where I am sitting, and knowing that I will be purchasing my first residence in my early 30s. It doesn't phase me in the slightest...
I must have better taste in friends then :D
I'm 28. Part owner of a business. Bought 2 investment properties and then sold them to do a rezoning and 30 lot subdivision on a large parcel of vacant land.
The constant language of "gen y does this" and "gen y are so self entitled" and "baby...
No. My circle of friends and business acquaintances aren't a bunch of self-entitled whingers. Some are buying, some are not buying. None of them, well, ok, one of them, are whingeing.
A few factors
1) Price. It just takes a bit longer to save
2) Dealing settling down (in terms of long term partnerships). The property market has increased the average price from 3x average wage to a bit under 6x average wage, as both people in a relation ship tend to work. If you are single...
Most of my friends have either
a) Bought a house/actively searching
b) renting with friends to save more money
c) At uni doing a MA while working full time so renting
d) Investing heavily in other areas and renting (that would be me)
e) Renting and spending money on other things but not...