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Interestingly, I understand that Canberra had negative returns over 2010 for houses, but positive returns for units. It would be interesting to see the changes based on dwelling type.

I actually thought Beebop WAS a chick... Seriously!

I think the idea with this is to look a bit deeper to see if we can draw any conclusions based on how much money people *actually have available* to spend on property. This is quite different from simply how much people earn. As has been discussed previously, incomes, tax rates, costs of...

Of course property is expensive - we're at the top of the cycle in most places. That doesn't mean the world is about to explode, however. I'm looking forward to the next big boom, which should be in full swing in the early 2020's.

+1 - very well said.

Well, um, yeah. The point I was making was that if you can find a job you love, you will likely do better than most people doing it only for the $$.

Spot on, you'll also do better at something you love.

Inevitably...

There's plenty of under 30's making 6 figures in my industry (IT). In Canberra we can't get enough of them. Anyone with an IT qualification and half a clue could be earning 6 figures in under 5 years, assuming they are starting with zero experience.

No, they're not. Law gets competitive, but when I did engineering there was very much a 'help each other out' culture. I also worked at a Big 4 accounting firm for some years, and it didn't seem particularly competitive. The people who do these things are also not alike. The mindset needed...

And do you think things were much different for Gen Xers like myself? The message from schools was always "go to uni to get a good job". We still had to think for ourselves.

I actually find the self-absorbed nature and whinging self-entitlement of some people to be far more selfishly evil than people who manage to provide for their futures while providing housing for those who can't or won't buy for themselves.

You also have it better if you are a lawyer, accountant or engineer, or studied IT, as there are HEAPS more jobs (especially in Canberra) for these skills. And these are just the ones I'm aware of. The degrees that don't do so well (e.g. Arts majoring in Italian Underwater Basket Weaving and...

There's a skills shortage now that didn't exist 15 years ago, which is why I had to work crappy low paid jobs while I studied. There are now more and better jobs. It's an advantage Gen Y have that they don't appreciate. Also, the Baby Boomers who raised Gen Y made it too easy for them. Not...

Beebop - would you consider buying a house then renting it to someone at less than the cost of ownership to be exploiting the renter?

Qualified people coming out of uni get great graduate salaries and can increase them significantly in only a few years. The problem is that many of the grads I see want everything on their own terms. There won't be 'an entire generation' on low wages. If anything, the current generation...

As do I. And, I suspect, many other investors do the same.

This is a good point. Although houses have gone up in price in the last few decades, they have also gone up significantly in size and features. Factor in interest rates coming down a bit and easier credit terms, and well, you get what we have now.

Canberra's turning into a strange place - it's getting very expensive to live here, and I think we're starting to see the divide between the well-offs and just-getting-bys getting larger. The cost of living here seems pretty high generally, and we are seeing some big $$ roles being offered...

The piggy bank's not that empty. Government has $$ tucked away.