owning a home doesn't buy happiness, page-25

Given the choice would I like to mortgage my next 30 years for a tiny piece of dirt close to a polluted CBD in Sydney, Melbourne or Brisbane, OR would I like to take a more flexible approach to wealth generation that doesn't involve a lifetime debt????

My family prefers freedom or choice as to where to live and how to work.

If we chose to live in inner Melbourne we would be selling our soul to a professional organisation which demands blood and 100% loyalty for the term or our mortgage.

We'd rather explore life, look around the world and be rich in freedom rather than bet our future prosperity in the hope that the highly priced asset we borrowed to buy will continue to grow in value.

The baby boomers are selling their overpriced houses to this gen. This gen is going to be overburdened with debt and the malais will continue for decades.