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Firstly, you're in the UK, so what would you know about the Aussie Market? Secondly, Micheal has a high end property in a nice area, near the city. Not all properties are the same & while a 4.5% yield might be good for the property in question, 4.5% is not indicative of the whole of the...

Welcome to the forum Miggy. Stick around & learn. There's a lot of good stuff on here. Just don't listen to the trolls that come along every so often.

Someone who is 24 and has never invested is now a sophisticated investor?:rolleyes: I really have heard everything now!:eek:

See, different opinion here. I was pretty tough on my kids growing up, especially where finance was concerned. Don't get me wrong, we spent a fortune on them, especially their sport, but my aim was to produce two people that could (should they need to) be totally self sufficient when they...

No offence taken, although from where I'm sitting I don't think we're comparing apples with apples (although could quite easily be wrong here). Culture aside, I'm assuming there are a few differences between his situation & that of your children. You are an investor. From the quality of...

Trey you admit that you are earning a huge amount of money, & you stay with your parents & don't pay board. I find this attitude very selfish. Your parents have no doubt sacrificed much over the years in bringing you up. The least you could do is pay your way while you are at home. I'm...

I've got all sorts of stuff. Mostly lower priced homes, but not all. We've got stuff in Western Sydney, South Western Sydney, regional NSW, regional Vic. Homes, units, blocks of units. I like affordable housing because anyone can afford it.

No, timing played a part, just like it does today. It was easier to buy into Western Sydney 2 years ago than it is today. That is timing! Just like when we bought our first place & 2 years later prices had tripled. There was no way we could have bought, had we not timed it right, and then it...

That old chestnut AGAIN!! NO! I'm not backing you up at all. Young people these days look at a point in time, usually before an upswing in prices, so things are quite cheap, and think that they are comparing the income verses cost of housing, and everything else remains the same. Well, it...

http://www.realestate.com.au/property-house-nsw-macquarie+fields-115888343 http://www.realestate.com.au/property-house-nsw-cambridge+park-108450016 There's two in outer Sydney without even trying. One in South West, the other Western. Two areas with affordable housing.

We've started from scratch twice. The first was a really crappy home in a crappy area. Lived there for around 8 years, then lost it due to a failed Business. Second home, hubby was working in Sydney, so rented near to work. Looking to buy a home & could easily have afforded a place...

Same! Hubby commutes. Always has done.

Bollocks! There are homes available for around $300k or less in the outskirts of every major city in Australia. Yes, you might have to commute to live there. No, they might not be new, they might not be big & they most certainly won't be the dream home. What they will be is an average home...

Yes, I think there's a lot more now & I agree, too many uni grads, all expecting to be able to afford to buy something trendy.

Haha, yep! This too!

And there's the rub. While not specifically picking on you, you have just put into writing, what a lot of first home buyers want & the reason they don't actually buy. Rewind the clock backwards to when I was young. I would have LOVED to buy in a better place, closer to where I WANTED to...

Yes, I know, but I purposely chose a low income, presuming he was earning much higher than this.

Haha, yep! I remember that. Was young, single, renting a unit on my own. Had a very small B&W TV. Saved up $500 to upgrade to a colour one. Decided that I'd get a video player instead, so watched B&W videos. BTW, all those things were REALLY expensive back then, compared to the wages.

Hmm....lets see. Let's suppose you are earning $55k, although you are probably earning a darn sight more than that. So, 30% of $55k is $16500. Multiply that by 4 years = $66k. So, minimum you should have in the bank is $66k, and you are finding it difficult to get in? Here's something...

You can raise a child with all the financial education you want, that does not guarantee that they will actually live within their means, and invest. Of course, should they actually choose to put that education to good use, they will do very well. At the same time you will find that there...