will gen y's create the next boom?, page-3

Gen Y have realised that owning a pad in one of the big Capital Cities now could be a dangerous move.

Have property prices peaked? Will they still have their jobs tomorrow?

It seems they are buying cheap pads in regional locations where any falls in real estate prices will be less catastrophic. Atleast they can rely on rental income that will almost cover their mortgage. Welfare payments provide the support base for these valuations.

Cannot believe that these two Gen Y'ers were offered $900k to buy a place. An architect and communications worker! Go back twenty years to the 90/91 recession. Architects and engineers couldn't find a job unless they were willing to work flipping burgers or cleaning toilets.

Very short memories. Glad these two didn't mortgage their whole lives for the sake of owning a tiny weatherboard with no room for the kids to play. Who would want to live in a 3 metre wide weatherboard where you can hear your neighbours snoring and stirring their cup of tea in the morning. Can't even belt out your hi fi.........