As a gen y I wanted to throw my situation out there. I'm currently working with a 65k py job and currently renting a room for 300pw in the city studio.
Gives me room to borrow about 400-500k from the bank. I have about 80k equity making me 80%~90% leveraged. I'd have monthly repayments to the bank of about 3000 for the next few years not including strata etc.
My personal opinion is that prices are way too high. Don't see the benefit at this point of buying a home then eating peanut butter and toast for 5 years to make ends meet. Rather put my equity into the stock market until I see a bargain in property.
