I believe that it is not the housing that is not affordable but the lifestyle that people want.
That my opinion.
Chiliblue
What a great quote and I have to agree that the
lifestyle people want impacts on their ability to have their own PPOR when their requirements change unless they plan for the PPOR or IP in advance.
a) Friends 2 x adult children have followed their desired lifestyle (working and snow skiing - now living in Canada) and have not much in savings but plenty of different experiences.
b) Daughter's friends brought PPOR lived in it 6 months and then rented it out and moved to UK for 3 years, worked and travelled extensively, now back home, married and renting in a capital city with PPOR an IP.
c) Son's friends a little smarter, male brought a PPOR and girlfriend's sisters & a male mate boarded with him. Girlfriends parents lent her a deposit after she finished uni to buy her PPOR.
After meeting FHOG requirements boyfriend moved in then they got married, sold both places over time and built new brick PPOR, male mate lived with them as well and this couple repaid loan to girlfriend's parents.
What is the old saying "If you fail to plan you plan to fail"...
Bottom line I think the difference has been parents influence/knowledge as the parents of a) have relocated 8 times in 30 years to try different lifestyles themselves [large city, small city, acerage, large city, small, city, QLD beach, small city, NSW beach].
I know of 2 people who are renting within a short walk to the beach and paying a huge rent so they can have the lifestyle they want, but IMHO they cannot afford so they are setting themselves up to be pensioners with basic employer contributions only in superannuation.
Regards
Sheryn