It obviously depends on personal circumstances. If your renting and saving the money otherwise going on the mortgage and trading, investing, chasing dividends, starting a business etc etc then i think most would be miles ahead. If your blowing said saved money on all the random useless crap we all like then for any chance of any wealth creation property might be the go ie cant spend it if you dont have it. As long as some thought/planning has gone into it i dont see much of a problem but buying a house simply because its the thing to do is rather silly and naive imo.
I think baby boomers might be biased when it comes to property as they have lived through (and benefited greatly) from the huge boom over the last few decades. If renting is considered dead money then surely paying interest over the course of a 30 yr loan should be considered the same? Also with a huge budget blackhole that looks to never be filled, once the clowns in Canberra have shafted everyone they possibly can surely the tax benefits enjoyed by property investors would surely have to be reviewed and put to an end? That alone would level out prices and most likely reflect countries like Germany where yield will be in the low/mid digits + the added benefit of making property affordable for most and less of an avenue of speculation.
